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Companies and Allied Matters Act 2020 · Part B · Chapter 18

Section 544Penalties

(1)
Unless otherwise provided, a person who commits an offence under this Chapter is liable on conviction to a fine of at least N200,000.
(2)
A person who commits an offence under—
(a)
section 455,
(b)
section 467,
(c)
section 470,
(d)
section 482,
(e)
section 483, (f ) section 484,
(g)
section 486,
(h)
section 488,
(i)
section 491,
(j)
section 493,
(k)
section 508,
(l)
section 509,
(m)
section 514,
(n)
section 516,
(o)
section 518,
(p)
section 522,
(q)
section 524, and
(r)
section 527, is liable on conviction to a daily default fine of not less than N5,000.
Cite as: Companies and Allied Matters Act 2020, section 544

What this section means

From the guide: What is administration of a company under CAMA 2020?

  • Offences under a list of sections, including sections 455, 470, 482, 483, 484, 486 and 488, carry a daily default fine of not less than ₦5,000 (section 544).

Read the whole subject

Source: Companies and Allied Matters Act 2020 (Act No. 3 of 2020), Official Gazette No. 124, Lagos, 10 August 2020. General information, not legal advice.