Section 95: Failure to comply with Rules etc.

Without prejudice to any other provision of this Act, the Governor may impose any one or more of the following sanctions on any bank, specialised bank, other financial institution, or person for failure to comply with any of the provisions of this Act, the Central Bank of Nigeria Act or any other law relating to banking or any rule, regulation, guideline or directive made under it-
(Act No. 7. 2007.)(a) suspension of the authorised foreign exchange dealership licence for any period of time as the Bank may prescribe;
(b) prohibition from participation in any medium for transaction in foreign exchange;
(c) suspension from participation in bank clearing systems;
(d) forfeiture to the Bank of any pecuniary benefit obtained as a result of the violation or breach;
(e) suspension of any licence issued or given to any bank, specialized bank or other financial institution;
(f) imposition of a fine of at least N100,000,000; and
(g) any other sanctions the Bank may deem appropriate.