Section 113: Obligation of confidentiality by Pension Fund Administrators and Pension Fund Custodians

(1)
Notwithstanding the provisions of any other law, every member of the board, officer, employee, agent or any other person engaged by a Pension Fund Administrator or Pension Fund Custodian shall not make any unauthorized disclosure or use of any information which they may have received directly or indirectly in the course of their engagement with a Pension Fund Administrator or Pension Fund Custodian.
(2)
The obligation under sub-section (1) of this section shall continue even after the termination of appointment as a member of the Board, officer, employee or agent ofthe Pension Fund Administrator or Pension Fund Custodian.
(3)
The obligation specified in sub-section (1) of this section extends to members of the Board, officers, employees and any agent or other persons engaged by the Commission.
(4)
The provisions of sub-section (1) of this section shall not apply to communications made to the Commission, external auditors of the Pension Fund Administrator or Pension Fund Custodian in connection with the purposes of the Commission or pursuant to the provisions of this Act.
(5)
Any person who violates the provisions of this section commits an offence under this Act and is Iiable on conviction to a fine of N 10,000,000.00 or to a term of five years imprisonment or to both such fine and imprisonment.