Section 44: Commissioners to disclose certain connections and interests.

(1) If a Commissioner -
(a) acquires or holds a direct or indirect pecuniary' interest in any matter that is under consideration by the Commission,
(b) owns any property or has a right in property or a direct or indirect pecuniary interest in a company or association of persons which results in the Commissioner's private interests coming or appearing to come into conflict with his functions as a Commissioner,
(c) knows or has reason to believe that a relative of the Commissioner -
(i) has acquired or holds a direct or indirect pecuniary interest in any matter that is under consideration by the Commission, or
(ii) owns any property or has a right in property or a direct or indirect pecuniary interest in a company or association of persons which results in the Commissioner’s private interests coming or appearing to come into conflict with his functions as a Commissioner; or
(d) for any reason, his private interests conflict with his functions as a Commissioner,
the Commissioner shall immediately disclose the fact to the Commission.
(2) A Commissioner referred to in subsection (1) shall take no part in the consideration or discussion of, or vote on, any question before the Commission which relates to any contract, right, immovable property or interest referred to in that subsection.
(3) A Commissioner shall, prior to accepting his appointment to the Commission, make a declaration of assets in accordance with paragraph 11 of Part I of the Fifth Schedule to the Constitution of the Federal Republic of Nigeria, 1999 and shall terminate all other engagements for gain, including appointment to any office in the public service. [Fifth Schedule]
(4) A Commissioner who contravenes subsection (1), (2) or (3) commits an offence and is liable on conviction to a fine not more than N1,000,000 or imprisonment for a term not more than six months or both. [Cap. C23, LFN 2004]