Section 112 — Failure to notify change of address

A taxable person who fails to notify the relevant tax authority of any change of address within 30 days of such change, gives a wrong address or fails to comply with the requirement for notification of permanent cessation of trade or business under the relevant tax laws shall be liable to administrative penalty of—

(a) ₦100,000 for the first month in which the failure occurs; and

(b) ₦50,000 for each subsequent month the failure continues.