Section 36: Power of the Corporation to require information.

(1) Every insured institution shall submit to the Corporation such returns and information as may be required for the proper performance of the functions of the Corporation within the stipulated period.
(2) Any insured institution which fails to comply with the provisions of subsection (1), commits an offence under this Act and is liable on conviction to a fine of at least N1,000,000 and thereafter N250,000 for each day the offence continues, counting from the day immediately after the date of failure to make such return.
(3) In addition to the powers conferred on it under this Act, the Corporation, for the attainment of its public policy objectives or the performance of its functions, may require persons having access, at all reasonable times to supply to it information, in such form as the Corporation may direct, relating to, or touching on or concerning matters affecting the interest of depositors of insured institutions.
(4) Where a person lawfully required to supply information necessary to achieve the public policy objectives and functions of the Corporation-
(a) supplies any information which he knows to be false or supplies it recklessly as to its truth or falsity; or
(b) without reasonable excuse, fails to supply any information required by the Corporation,
the person commits an offence and is liable on conviction to a fine not more than N1,000,000 and in the case of contravention of subsection (4)(b), an additional fine of at least N250,000 for each day the offence continues, starting from the day immediately after the date of failure to supply such information.