Library / B 143 Federal Republic of Nigeria Official Gazette No. 52
B 143 Federal Republic of Nigeria Official Gazette No. 52

Page 19 of 31
B 161
(2)  Notwithstanding anything contained in this regulation, the Authority
may direct an officer of the Authority, or any other person (“the Investigating
Authority”) specified in the order to investigate the affairs of any person
being investigated, including its books of account, and submit a report to the
Authority on such investigation, provided that the —
(a) investigating authority may, wherever necessary, employ any auditor
or any other person to provide assistance to it in any investigation in these
Regulations ; and
(b)  Authority may, on the request of the gas exchange or clearing house
or member of gas exchange or clearing house or trading licensee, as the
case may be, provide to him a copy of the report of the investigating authority.
(3)  A person being investigated shall produce before the investigating
authority directed to make the investigation under these Regulations, all such
books of account, authorisation and other documents in its custody or power
and to furnish them with any statement and information relating to the affairs
of the person being investigated as the investigating authority may require of
them within such time as it may direct.
(4)  On receipt of any information or report in this regulation, the
Authority may, after giving such opportunity to the person being investigated
to make a representation in connection with the report as in the opinion of
the Authority, seems reasonable, and after considering representation if
any, by order, in writing —
(a)  require the person being investigated to take such action in respect
of any matter arising out of the report as the Authority may deem fit ;
(b) suspend or cancel the licence or authorisation of the gas exchange
or clearing house ; or
(c) direct the gas exchange to cancel membership of a member :
Provided that no action specified in this regulation shall be taken unless an
opportunity of being heard is given to the person being investigated.
44.   Where during an investigation or intervention, the Authority is satisfied
that an act in contravention of these Regulations has been committed or
continues to be committed or that such act is about to be committed, the
Authority may, by order, temporarily restrain any person from carrying on
such act until the conclusion of such investigation or intervention or until further
orders, but such order shall not be made without giving notice and opportunity
of being heard to such person.
Power to
issue interim
orders