Section 48: Sanctions on registered professionals.(as amened by Section 11 of the Financial Reporting Council of Nigeria (Amendment) Act, 2023.)

(1) The Council may suspend or deregister a professional registered under section 41 where the professional-
(a) has obtained the registration by fraud or misrepresentation;
(b) no longer satisfies the requirement of section 41 (5) ;
(c) has acted in breach of any rule or regulation made by the Council.
(2) Notwithstanding sub-section (1) of this section, where a registered professional has committed a breach of any rule made by the Council, the Council may issue a warning to the professional.