Section 3: Functions of the Board.

The Board shall-(a) conduct the making of the Award in accordance with this Act;
(b) institute measures designed to promote intellectual and academic excellence among Nigerians for this purpose and shall liaise with academic, professional and research institutions in Nigeria;
(c) manage the Nigerian National Merit Endowment Fund established by section 9 of this Act;and
(d) do such other things which in the opinion of the Board are necessary to ensure the efficient performance of its functions under this Act.