Section 126: Provisions relating to the furnishing of information by manufacturers

(1)
In addition to complying with the requirements of section 125 of this Act, the holder of an excise licence shall if so required by the Board -
(a)
produce for inspection such invoices and other books or documents in his possession relating to any excisable goods manufactured by him during the preceding twelve months as the Board shall require;
(b)
answer such questions as may be put to him by the Board regarding the description, manufacture, quantity, weight, volume, selling price, consignee, destination, cost of production and manufacturer's profits, and any other matter relating to such goods which the Board may reasonably think necessary for the purpose of carrying out the provisions of the excise laws or any regulations made thereunder;
(c)
produce such evidence as the Board may deem necessary in support of any information so furnished;
(d)
make such returns in such form and at such intervals as the Board may require,
and if any manufacturer shall neglect or refuse to comply with any such requirement as aforesaid, he shall be liable to a fine of two hundred naira.
(2)
Notwithstanding any other provisions of this Act, the powers conferred by subsection (1) of this section on the Board, in so far as they relate to questions regarding the cost of production and manufacturer's profits in respect of any excisable goods, shall be exercisable only by the Board itself.
(3)
The Board may require the holder of an excise licence to submit annually, or at such other times as it may require, a certificate of audit by an approved accountant not being an employee of the holder of the excise licence certifying -
(a)
the correctness of all the books and records required by or under this Act to be kept by the holder of the excise licence; and
(b)
any such matter referred to in paragraph (b) of subsection (1) of this section as the Board may require,
and any holder of an excise licence who without reasonable cause fails to submit such certificate of audit shall be liable to a fine of two hundred naira.
(4)
For the purposes of this section "an approved accountant" means an accountant who is a member of one of the professional bodies for the time being declared by the Board, by notice in the Federal Gazette, to be approved for such purposes.