Section 7 — Composition of the Board

(1) The Board shall consist of—

(a) the Chairman, who shall be the Executive Chairman of the Service appointed by the President subject to confirmation of the Senate;

(b) the following ex-officio members—

(i) a representative of the Minister responsible for Finance not below the rank of a Director,

(ii) a representative of the Minister responsible for National Planning not below the rank of a Director,

(iii) a representative of the Attorney-General of the Federation not below the rank of a Director,

(iv) a representative of the Minister responsible for Petroleum and Gas Resources not below the rank of a Director,

(v) the Governor of the Central Bank of Nigeria or a representative not below the rank of a Deputy Governor,

(vi) the Chairman of the Revenue Mobilisation, Allocation and Fiscal Commission or a representative who shall be a Commissioner representing one of the States of the Federation,

(vii) the Comptroller-General of the Nigeria Custom Service or a representative not below the rank of Deputy Comptroller-General,

(viii) the Registrar-General of the Corporate Affairs Commission or a representative not below the rank of a Director, and

(ix) Executive Directors appointed by the President under this Act.

(2) All members of the Board, except the Executive Chairman, and the Executive Directors shall serve on a part-time basis.

(3) The supplementary provisions set out in the First Schedule to this Act shall have effect with respect to the proceedings of the Board and other matters mentioned therein.