Section 16: Books of accounts

(1) A bank shall cause to be kept at its office, proper books of account with respect to the transactions of the bank.
(2) If any person being a director, secretary or officer of a bank-
(a) fails to take all reasonable steps to secure compliance with the provisions of subsection (1) of this section; or
(b)
has by his wilful act, been the cause of any default thereof by the bank,
he commits an offence under this section and is liable on conviction to a fine of N500 or to imprisonment for a term of three months or to both such fine and imprisonment.