Section 99: Offences and Penalties.

(1)
A person who contravenes any of the provisions of this Act commits an offence and where no penalty is prescribed, shall be liable on conviction to a fine of not less than N250,OOO.00 or to a term of not less than one year imprisonment or to both fine and imprisonment.
(2)
Any person or body who attempts to commit any offence specified in this Act commits an offence and is liable, on conviction, to the same punishment as is prescribed for the full offence in the Act.
(3)
Without prejudice to section 174 of the Constitution of the Federal Republic of Nigeria 1999(as amended), the Commission may compound any offence provided for under this Act by accepting an amount less than the fine provided for the offence under this Act.
(4)
A Pension Fund Administrator, Pension Fund Custodian that reimburses or pays for a staff, officer or director directly or indirectly a fine imposed under this Act commits an offence and is liable on conviction to a fine of not less than N5,OOO,OOO.OOand also forfeits the amount repaid or reimbursed to the staff, officer or director.