Section 2: Establishment and Membership of the Board.

(1) There is established for the Council, a Board (in this Act referred to as "the Board") which shall have overall control of the Council.
(2) The Board shall consist of:
(a) a Chairman who shall be a professional accountant with considerable professional experience in accounting practices;
(b) two representatives from the Association of National Accountants of Nigeria ; and
(c) two representatives from the Institute of Chartered Accountants of Nigeria;
(d) one representative from each of the following:
(i) Office of the Accountant General of the Federation;
(ii) Office of the Auditor General for the Federation;
(iii) Central Bank of Nigeria;
(iv) Chartered Institute of Stockbrokers;
(iv) Chartered Institute of Taxation of Nigeria;
(vi) Corporate Affairs Commission;
(vii) Federal Inland Revenue Service;
(viii) Federal Ministry of Commerce ;
(ix) Federal Ministry of Finance ;
(x) Nigerian Accounting Association;
(xi) Nigerian Association of Chambers of Commerce, Industries, Mines and Agriculture;
(xii) Nigerian Deposit Insurance Corporation;
(xiii) Nigerian Institute of Estate Surveyors and Valuers;
(xiv) Securities and Exchange Commission;
(xv) National Insurance Commission;
(xvi) Nigerian Stock Exchange;
(xvii) National Pension Commission; and
(e) the Executive Secretary of the Council