Section 27: Operating a retail, community pharmacy or pharmaceutical company.

(1) A person shall not own or operate a retail or community pharmacy practice unless the person is registered as a pharmacist under this Act.
(2) The Council may approve satellite pharmacy owned by licensed pharmacists who have a minimum of 10 years post-registration experience provided that such satellite pharmacy is affiliated to a registered pharmaceutical premises for the purpose of regulation and control.
(3) A company owned by Nigerians or foreign company shall not own or operate a chain retail or community pharmacy unless such a company has a Nigerian pharmacist or pharmacists on its board of directors who shall solely or jointly own not less than 40% shares of the company.
(4) A corporate body shall not operate a pharmaceutical company for the purpose of manufacture, importation, exportation, storage, distribution or wholesale business without having as a member of the board of directors, at least one registered pharmacist who shall be a shareholder of the company.
(5) A person or corporate body shall not own or operate a private pharmacy in a public health facility.
(6) A pharmacist who makes a false statement under subsection (3) commits an offence and is liable on conviction to a fine equivalent to the value of the shares he claimed to own or a term of imprisonment for two years or both.