Section 3: Establishment of the Governing Board

1 There is established for the Fund a Governing Board (in this Act referred to as ’’the Board")

2 The Board shall consist of—
a a Chairman;
b one representative each of—
(i) Federal Ministry responsible for Finance, Budget and National Planning,
(ii) the Federal Inland Revenue Service,
(iii) all Farmers Association of Nigeria,
(iv) all Livestocks, Fisheries and Poultry Associations in Nigeria,
(v) National Food Reserve Agency,
(vi) Bankers Association of Nigeria,
(vii) the organised private sector to represent special interest,
(viii) the Agricultural Research Council of Nigeria,
(ix) the Federal Ministry responsible for Agriculture and Rural
Development, and
(x) the Federal Ministry responsible for Science and Technology;
c one person from each of the six geopolitical zones and should be rotational among the states in the zones at the end of each tenure; and
d the Executive Secretary.

3 The Chairman and members shall be appointed by the President.

4 The performance of the functions or exercise of the powers of the Board shall not be affected by a vacancy in the membership of the Board.

5 The appointment of a member shall not be invalidated by a defect or irregularity in or in connection with his nomination or appointment.

6 Members, other than ex-officio, shall be part-time members. [Schedule[]

7
The supplementary provisions set out in the Schedule to this Act shall have effect with respect to the proceedings of the Board and other matters contained in it.