Section 49: Penalties.

(1)
Any person guilty of an offence under any provision of this Act shall, unless otherwise prescribed, be liable on conviction-
[1978 No. 37.]
(a) in the case of an individual, to a fine of N500 or imprisonment for one year or to both such fine and imprisonment: and
(b)
in the case of a body corporate, to a fine of N5,000.
[1963 No. 20.]
(2) Subject to the exercise by the Attorney-General of the Federation of his powers under any enactment (including the Constitution of the Federal Republic of Nigeria), any proceedings under this Act may be instituted by or on behalf of the superintendent or the Inspector-General of Police.
(3) All penalties imposed under this Act shall, when recovered, be paid into the Consolidated Revenue Fund of the Federation.