Section 12: Service in the Authority to be pensionable

(1) Service in the Authority shall be approved service for the purpose of the Pensions Act, and accordingly, an officer and other persons employed in the Authority shall in respect of their service in the Authority be entitled to pensions, gratuities and other retirement benefits as are prescribed under that Act.
[Cap. P4.]
(2)
Nothing in this section shall prevent the appointment of a person to any office, on terms which preclude the grant of a pension and gratuity in respect of that office.
(3) For the purposes of the application of the Pensions Act, any power exercisable under the Act by the Minister or other authority of the Federal Government (not being the power to make regulations under section 23 thereof) is hereby vested in the Board and shall be exercisable by the Authority and not by any other person or authority.
(4) Subject to sub-section (2) of this section, the Pensions Act shall in its application by virtue of this section to any office, have effect as if the office were in the civil service of the Federation within the meaning of the Constitution of the Federal Republic of Nigeria 1999.
[Cap. P4. Cap. C23.)