Section 12: Removal from the Board.

A person shall be removed as a member of the Board where -
a the person -

(i) becomes bankrupt or makes a compromise with his creditors,

(ii) is convicted of a felony or any offence involving dishonesty or fraud,

(iii) becomes of unsound mind or is incapable of discharging his duties,

(iv) is guilty of serious misconduct in relation to his duties,

(v) possesses professional qualification and he is disqualified or suspended from practicing his profession in Nigeria by an order of a competent authority, and

(vi) becomes Ineligible under Section 8 (4) of this Act: or
b the President is satisfied that it is not in the interest of the Centre or of the public for the person appointed to continue in office.