Such PFA or PFC has committed an offence and shall be liable on conviction to a fine not less than N10m and each of its Directors or Officers responsible for the offence shall be liable to a fine of not less than N5m or imprisonment for a term not exceeding three (3) years or to both fine and imprisonment.
- 8. What would happen to a PFA that fails to comply with the provisions of the PRA 2014 on investment and the Regulation on Investment issued by PenCom?
- 6. What would happen to a PFA or PFC that misappropriates pension funds?