Section 26: Offences and penalties.

(1) A person who —
(a) holds himself out as a member of the Institute of Mortgage Brokers and Lenders, or
(b) willfully makes falsification in any matter relating to the register, commits an offence.
(2) A person who commits an offence under this section is liable on —
(a) summary conviction, to a fine not more than N 100,000; or
(b) conviction on indictment, to a fine not more than N200,000 or imprisonment for a term not more than two years or both.