Section 25: Penalty for pretending to be registered, etc.

(1) Any person who wilfully
(a)
takes or uses any style, title or description which consists of or includes the expression "Registered Insurance Broker" when he is not registered in the Register; or
(b)
takes or uses any name, title, addition or description falsely implying, or otherwise pretend, that he is registered in the Register, shall be liable on summary conviction to a fine not exceeding N50,000.00 or imprisonment for three months or both.
(2) Any body corporate which wilfully
(a)
takes or uses any style, title or description which consists of or includes the expression "Insurance Broker" when it is not enrolled in the List; or
(b)
takes or uses any name, title, addition or description falsely implying, or otherwise pretends, that it is enrolled in the List, shall be liable on summary conviction to a fine not exceeding N100,000.00.
(3) Reference in this section to the expression "Insurance Broker" includes references to the following related expressions that is to say "Assurance Broker", "Reinsurance Broker" and "Reassurance Broker".