NATIONAL ASSEMBLY SERVICE PENSIONS BOARD (ESTABLISHMENT) ACT, 2023

Section 6: Pension deduction and remittance.

2023Section 6 of 20Federal Republic of Nigeria

(1) All deducted funds for pension shall be remitted into staff pension account within 72 hours by the Clerk to the National Assembly.
(2) Pension money shall not be borrowed or used for any other purpose.
(3) Any person who contravenes the provisions of-
(a) subsection (1), commits an offence and is liable to a fine of N 100,000 per day for every day the violation subsists; or
(b) subsection (2), commits an offence and is liable to a fine of N 100,000,000 or imprisonment for a term of six years or both.

Cite this section

Section 6, NATIONAL ASSEMBLY SERVICE PENSIONS BOARD (ESTABLISHMENT) ACT, 2023 (2023).

https://repo.podus.ai/laws/national-assembly-service-pensions-board-establishment-act-2023/section/6/