Section 13: Conflict of interest

(1) A member of the Council shall —
(a) ensure that personal interest shall not conflict with the member's duties under this Act;
(b) not make secret profit in the course of discharging official duties;
(c) fully disclose to the Council any personal, commercial, financial, or other interest, which may directly or indirectly hold or be connected with the business of the Commission or becomes the subject of consideration by the Council;
(d) subject to subsection (3), be ineligible to participate in any Council deliberation and voting-related matter; and
(e) not accept any gift or advantage in whatever form or manner, for anything done or likely to be done with respect to the responsibilities of the Council.
(2) A member of the Council, who contravenes the provisions of paragraphs (b) and (e), commits an offence and is liable on conviction to –
(a) in the case of a contravention of paragraph (b), a fine of at least N10,000,000 or imprisonment for a term not more than three years, or both; or
(b) in the case of a contravention of paragraph (d), a fine of at least N5,000,000, or imprisonment for a term not more than two years, or both.