Section 21: Prohibition of receipt of commission, etc., by staff.

Any director, officer or employee of a mortgage institution or other persons being persons receiving remuneration from such mortgage institution, who asks for or receives, consents or agrees to receive any gift, commission, emolument, service, gratuity, money, property or thing of value for his own personal benefit or advantage or for that of any of his relations, from any person other than from the mortgage institution-(a) for procuring or endeavouring to procure for any person any loan, advance or credit facility; or
(b)
for permitting any person to overdraw any account with the mortgage institution, shall be guilty of an offence and liable on conviction to a fine of N10,000 or to imprisonment for a term of three years and in addition any money, property or thing of value accruing to any person by reason of the offence shall be forfeited to the Federal Government.