Section 37: Inquiry and inspection.

(1) The Director may, and shall, on the application of a simple majority of the members of the committee, or of not less than one-third of the members of a registered society, hold an inquiry or direct any other person authorized by him in this behalf, by order in writing, to hold an inquiry into the constitution, working and financial state of a registered society.
(2) All officers and members of the society shall furnish such information relating to the affairs of the society are produce such books, accounts, papers and securities of the society as the Director or the person authorised by him may require for the purpose of the inquiry.
(3) The Director shall, on the application of a creditor of a registered society, inspect or direct any other person authorised by him in writing to inspect the books of the society, if the creditor-
(a) proves that an ascertained sum of money is then due to him and that he has demanded payment thereof and has not received satisfaction within a reasonable time; and
(b) deposits with the Director such sum as security for the costs of the proposed inspection as the Director may require.
(4) The Director shall communicate the results of an inspection held under this section to the creditor and to the society into whose books the inspection was made.
(5) Where an inquiry is held under subsection (1) of this section or an inspection is made under subsection (3) of this section, the Director may, by a certificate under his hand and seal, make an award apportioning the costs, as he may think right, between the registered society, the members demanding an inquiry, the officers or former officers of the society, and the creditor, if any, on whose application the inquiry was held.
(6) A sum awarded by way of cost under subsection (5) of this section shall be recoverable in the same manner as a fine imposed by any court having jurisdiction over the person or body against whom the award is made on the production, before the court, of the certificate referred to in that subsection.
(7) If an inquiry under subsection (1) of this section proves that the committee of the registered society is inefficient, the Director may, for the purpose of resuscitating the society, take over the management of its affairs for a period of two years after which the management shall be returned to the committee.
(8) An officer or a member of a registered society who-
(a) wilfully neglects or refuses to do any act or to furnish any information; or
(b) furnishes information knowing it to be false, contrary to the provisions of subsection (2) of this section is guilty of an offence and liable on conviction to a fine of N1,000 or imprisonment for a term of six months or to both such fine and imprisonment.