Section 97: Refusal to grant licences or permits.

(1) Where the Authority takes a decision refusing to grant, vary, cancel, suspend or revoke a licence, permit, certificate or other authorisation, the Authority shall subject to subsection (2), furnish a statement of the reasons for the decision to the applicant for the licence, permit, certificate or other
authorisation, or as the case may be, to the holder and to any other person who in accordance with rules made under this Act has filed an objection in the case or requested such a statement, provided that, no statement of reasons need be furnished in pursuance of a request by the holder of a licence, permit, certificate or other authorisation for the variation, cancellation, suspension or revocation of it.
(2) The Authority may refrain from furnishing a statement of reasons under subsection (1), if it has reason to believe that it might adversely affect the security interest of Nigeria or the relationship of Nigeria with any other country.
(3) The Authority may publish in such manner as it thinks fit particulars of, and of its reasons for, any decision taken with respect to a licence, permit, certificate or other authorisation or an application for such a licence, permit, certificate or other authorisation.
(4) A person who, for the purpose of obtaining for himself or another person a licence, permit, certificate or other authorisation or with regard to a variation or the cancellation or suspension or revocation of a licence, permit, certificate or other authorisation knowingly or recklessly furnishes to the
Authority any information which is false, commits an offence and is liable on conviction to a fine of at least N500,000 or imprisonment for a term of at least six months or both.