Section 27: Administrative penalties.

(1) Supervisory and regulatory authorities may impose on—
(a) a financial institution;
(b) designated non-financial business and profession; or
(c) any officer of a financial institution or designated non-financial business and profession, for any breach of any requirement of this Act, such administrative sanctions as may be prescribed in a regulation made by the Attorney-General of the Federation under this Act.
(2) Any penalty imposed by a supervisory or regulatory authority by virtue of subsection (1) shall take precedence over and is not limited by any other sanction that may be imposed under any other regulation.