Section 1: Establishment of the National Institute of Marketing of Nigeria.

(1) There is established a body to be known as the National Institute of Marketing of Nigeria (in the Act referred to as "the Institute") which-
(a) shall be a body corporate with-
(i) perpetual succession ;
(ii) a common seal which shall be kept in such custody as the council may direct ;
(b) may sue and be sued in its corporate name ; and
(c) may, subject to the Land Use Act, hold, acquire and dispose of any property, movable or immovable.
(2) The institute has the general duty of -
(a)
determining who are marketers for the purpose of this Act ;
(b) determining what standard of knowledge and skill are to be attained by persons seeking to become members of the marketing profession (in this Act referred to as "the profession") and reviewing those standards from time to time as circumstances may require;
(c)
securing, in accordance with the provisions of this Act, the establishment and maintenance of the register of Fellows, Full Members, Associate Members, Graduate Members, Student Members, Honorary Fellow and Corporate Members of the profession and the publication, from time to time, of the list of those members ;
(d) regulating and controlling the practice of marketing profession in Nigeria ;
(e) maintaining, in accordance with this Act, discipline within the profession ; and
(f) performing, through the Council established under section 4 of this Act, such other function conferred on it by the Act.