7. What happens to a PFA or PFC that fails to render monthly reports of any fraud, forgery or theft occurring in its organization to PenCom? – PensionNigeria

7. What happens to a PFA or PFC that fails to render monthly reports of any fraud, forgery or theft occurring in its organization to PenCom?

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.

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