Section 16: Offences

(1) If a person required to furnish information pursuant to section 14 of this Act fails to furnish the information as required under that section, shall be guilty of an offence and liable on conviction to a fine of N10,000 or to imprisonment for a term not exceeding six months or to both such fine and imprisonment.
(2) If a person, in purported compliance with a requirement to furnish information as aforesaid, knowingly or recklessly makes any statement therein which is false in a material particular, shall be guilty of an offence and liable on conviction to a fine of N10,000 or imprisonment for a term not exceeding three months or to both such fine and imprisonment.
(3) A person, who wilfully obstructs, interferes with, assaults or resists an officer of the Commission in the execution of his duties under this Act or who aids, invites, induces or abets any other person to obstruct, interfere with, assault or resist the officer shall be guilty of an offence and liable on conviction to a fine of N10,000 or to imprisonment for a term not exceeding six months or to both such fine and imprisonment.