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National Economic Intelligence Committee (Establishment, etc.) Act

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An Act to establish the National Economic Intelligence Committee with responsibil-

ity to analyse the annual budget, the monetary and fiscal measures and to moni-

tor, assess and enforce all such fiscal measures, revenue targets and growth indi-

ces of the Federal Government; and for matters connected therewith.

[1994 No. 17.]

[15 th February , 1994]

[Commencement.]

Establishment of the National Economic Intelligence Committee, etc.

(l) There is hereby established a body to be known as the National Economic Intelli-

gence Committee (in this Act referred to as “the Committee”).

(2) The Committee–
(a) shall be a body corporate with perpetual succession; and
(b) may sue and be sued in its corporate name.

Membership of the Committee

(1) The Committee shall consist –
(a) a chairman;
(b) twelve other members one of whom shall be a woman; and
(c) the secretary to the Committee.
(2) The chairman and members of the Committee shall be appointed by the President.

Tenure of office

(1) The chairman and members of the Committee shall hold office for such period as

may be specified in their letters of appointment.

(2) A member may at any time be removed from office by the President for inability

to discharge the functions of his office (whether arising from infirmity of mind or body or

any other cause) or for misbehaviour but shall not be removed from office except in ac-

cordance with the provisions of this subsection.

(3) A member may resign his membership by notice in writing addressed to the

President and that member shall, on the date of the receipt of the notice by the President,

cease to be a member.

(4) There shall be paid to every member of the Committee such honoraria and allow-

ances as the Federal Government may, from time to time, direct.

Functions of the Committee

Notwithstanding the provisions of subsection (2) of section I of this Act, the Co m-

m i ttee shall-

(a) analyse the annual budget and extract all economic measures requiring en-

forcement;

(b) work out details on the method of enforcing implementation of the annual

budget;

(c) analyse the monetary guidelines issued by the Central Bank of Nigeria (in this

Act referred to as “the Bank”) and monitor the implementation of all the meas-

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