Section 4: Functions of the Board of Directors.

The Board shall be charged with the following functions, that is-(a) ensuring effective and efficient implementation of the objectives for which the Bank was established;
(b) supervising and monitoring the operations of the Bank with a view to ensuring that loans go to the target population who are in need of such loans;
(c) maintaining the highest level of integrity and honesty in the operations of the Bank;
(d) ensuring that loans given out are repaid for the benefit of other beneficiaries;
(e) making recommendations to the Federal Government on any changes in the policy of the Bank that it considers desirable and necessary for the improvement of the Bank and its operation;
(f) giving guidelines to the chief executive officer of the Bank; and
(g) approving major projects of the Bank such as acquisition of equipment, building, land, etc., for the use of the Bank.