The Nigerian Institute of Management Establishment Act 2003 was enacted as an Act of National Assembly on the 19th of June 2003 establishing the Nigerian Institute of Management as a body corporate under that name and charged pursuant to section 1 (1) (a)-(d) with the general duty of:
Determining what standards of knowledge and skill are to be attained by persons seeking to become members of the management profession and raising those standards and skill from time to time as circumstances may permit.
Securing in accordance with the provisions of this Act the establishment and maintenance of register of members and publication from time to time of list of those members.
Regulating and controlling the profession of management in all its aspects and ramifications and Performing through the Council under this Act the functions conferred on it by this Act.