Section 59: Prohibition of proliferation financing.

(1) All acts of proliferation financing of weapons of mass destruction are prohibited.
(2) A person or body corporate who contravenes subsection (1), commits an offence and is liable on conviction to—
(a) in the case of a natural person—
(i) imprisonment for a term of at least 25 years and up to a maximum of life imprisonment,
(ii) a fine not exceeding N100,000,000, or
(iii) both imprisonment and fine; or
(b) in the case of a body corporate, to—
(i) a fine of at least N200,000,000,
(ii) imprisonment of principal officer for a term of at least 25 years and up to a maximum of life imprisonment, and
(iii) the winding up of the body corporate, and its prohibition from reconstitution or incorporation under any form or guise.
(3) A person or body corporate, within or outside Nigeria, in any manner, who, directly or indirectly, and willingly provides, solicits, acquires, collects, receives, possesses, or makes available property, funds or other services, or attempts to provide, solicit, acquire, collect, receive, possess or make available property, funds or other services with the intention or knowledge, or having reasonable grounds to believe that it will be used, in full or in part to—
(a) finance the proliferation of weapons of mass destruction, or
(b) do any other act intended to cause death or serious bodily injury to a civilian or any other person not taking active part in the hostilities in a situation of armed conflict, when the purpose of that act, by its nature or context, is to encourage the proliferation of weapons of mass destruction, commits an offence.
(4) A person or body corporate who commits an offence under subsection (3) is liable on conviction to—
(a) in the case of a natural person—
(i) imprisonment for a term of at least 25 years and up to a maximum of life imprisonment,
(ii) a fine not more than N100,000,000, or
(iii) both imprisonment and fine; or
(b) in the case of a body corporate, to—
(i) a fine of at least N200,000,000,
(ii) imprisonment of the principal officer for a term of at least 25 years and up to a maximum of life imprisonment, and
(iii) the winding up of the body corporate, and its prohibition from reconstitution or incorporation under any form or guise.