Section 264 Investments and Securities Act

Section 264 of the Investments and Securities Act 2025 is about Liability for false statement in a warehouse receipt. It is under Part XV (Commodities Exchange and Warehouse Receipts) of the Act. It provides as follows:

An issuer of a warehouse receipt, its employee, agent or servant who knowingly issues or aids in the fraudulent issuance of a receipt for commodities knowing that the receipt contains a false statement, commits an offence and is liable on conviction to a fine of not less than N10,000,000 or imprisonment for a term not more than three years or both.