Section 3

(1) Subject to the provisions of subsection (2), a person appointed as a member of the Board (not being an ex-officio member) shall hold office for a term of three years and may be eligible for re-appointment for one further term of three years and no more

(2) The Minister may, with the approval of the President, at any time remove any member of the Board from office if the Minister is of the opinion that it is not in the interest of the Commission for the member to continue in office and shall notify the member in writing to that effect.

(3) The members of the Board except the Registrar-General shall be part-time members of the Board.

(4) A member of the Board ceases to hold office if-

(a) he resigns his appointment as a member of the Board

by three month notice under his hand and addressed to the Minister;

(b) he becomes of unsound mind or is incapable of discharging his duties;

(c) he becomes bankrupt or has made arrangement with his creditors;

(d) he is convicted of a felony or any offence involving fraud or dishonesty;

(e) he is guilty of serious misconduct relating to his duties; or

(f) in the case of a person who possesses professional qualifications, he is disqualified or suspended from practising his profession in any part of Nigeria by an order of any competent authority made in respect of him personally.

(a) dies;

(b) is removed from office in accordance with subsection (2);

(c) resigns from office in accordance with subsection (4) (a); or

(d) completes his tenure of office; or

(e) ceases to hold office in accordance with paragraphs (b) to (f) of subsection (4).

(6) A vacancy on the Board shall be filled by the appointment of another person to the vacant office in accordance with the provisions of this Act, as soon as it is reasonably practicable after the occurrence of such vacancy.

(7) Where a vacancy on the Board is created as a result of death, removal or resignation of a member of the Board, a replacement of the immediate past member shall be appointed to complete the unexpired period of his predecessor's term of office.

4. The Board shall-

(a) review and provide general policy guidelines for performing of the functions of the Commission in accordance with international commercial best practice;

(b) have general oversight on the administration of the Commission;

(c) review and approve the strategic plans of the Commission;

(d) receive and consider management reports and advise the Minister on the reports;

(e) determine the terms and conditions of service of employees of the Commission;

(f) fix the remuneration, allowances and benefits of employees of the Commission, in consultation with the National Salaries, Income and Wages Commission;

(g) ensure compliance with the provisions of this Act; and

(h) do such other things as are necessary to ensure the effective and efficient performance of the functions of the Commission.