Section 16: Federal Inland Revenue Service to collect levy and pay into the fund.

(1) The Federal Inland Revenue Service shall assess and collect the levy imposed under Section 12 of this Act.
(2) The Federal Inland Revenue Service shall, while assessing any company for either company income tax or Petroleum profit tax for an accounting period of the company, also assess such company for the levy or tax due under this Act.
(3) The levy imposed under section 12 of this Act shall be due and payable within 60 days after the Federal Inland Revenue Service has served notice of the assessment on a company in such form as the Federal Inland Revenue Service may, from time to time, determine.
(4) Where a levy due under Section 12 of this Act is not paid within the time specified in that section, the Federal Inland Revenue Service shall serve on the company, a demand note for the unpaid tax plus a sum which is equal to 2 percent of the levy.
(5) Any company, Agency or Organisation that fails within two months after a demand note, to pay the levy or the import duty imposed under section 11 of this Act commits an offence and shall on conviction shall be liable to a fine of not less than N 1,000,000.00 and the Chief Executive Officer of the company, Agency or Organisation shall be liable to be prosecuted and punished for the offence in like manner as if he had himself committed the offence, unless he proves that the act or omission constituting the offence took place without his knowledge, consent or connivance.
(6) The institution of proceedings or imposition of a penalty under this Act shall not relieve a company or Organisation from liability to pay to the Federal Inland Revenue Service such levy or levies that may become due under this Act.