Section 5: Functions and powers of the Council.

The Council shall-(a) advise the Minister on policies, plans and programmes for the enhancement of the number, quality and effective utilisation of the managerial manpower resources of the country in all sectors of the economy;
(b) formulate policies and guidelines for the co-ordination of management education and training activities;
(c) develop, regulate and promote high national standards of management education, entrepreneurial development and supervisory training programmes in line with international standards;
(d) accredit every management consultant, trainer or institution operating within Nigeria;
(e) accredit every registered management training firm or institution upon the fulfillment of criteria set by the Council;
(f) keep and maintain a register of all management consultants, management training institutions, their training programmes, curriculum, location, standards, duration, type and cost;
(g) sanction or prohibit any management trainer, consultant or training institution for commencing, undertaking, carrying on or engaging in training programmes without accreditation;
(h) assess periodically, the training programmes and management development training offered by the private and public institutions with a view to determining their competence; and
(i) to perform any other functions as may be necessary to achieve the goals and objectives of the Council.