The Federal Scholarship Board (FSB) is a Department of the Federal Ministry of Education headed by a Director, as the Secretary of the Board. It has no Governing Board as the name/nomenclature suggests.

THE MANDATE OF THE BOARD IS AS FOLLOWS:

1. Policy Formulation – Preparation of periodic master plans for a balanced and efficient utilization of foreign and local scholarship, and fellowship awards to deserving Nigerian undergraduate and postgraduate students. This may sometimes involve consultation with State Governments, the Ministries of Foreign matters and with other relevant agencies and bodies.
2. Implementation of Federal Government policy and programmes of foreign and local scholarship awards to deserving Nigerian scholars.
3. Implementation of Federal Government commitments to Bilateral Education Agreement (BEA) and Multi-Lateral (Commonwealth) Agreements on Scholarship and Fellowship awards to Nigeria.
4. Implementation of Presidential Special Scholarship for Innovation and Development (PRESSID) and NYSC EX-Corps Scholarship.
5. Collection, collation, analysis, publishing and dissemination of data and other information of student matters, Scholarship and Fellowship awards in relation to Nigeria.
6. Supervision and monitoring the activities of Federal Government Scholars in Tertiary Institutions locally and abroad.
7. Advising and coordinating States Scholarship Policies and Programmes through Annual Coordinating Committee Meetings of Secretaries of Federal and State Scholarship Boards.

THE BOARD OPERATES UNDER FOUR (4) DIVISIONS AS FOLLOWS:

1. Bilateral Education Agreement (BEA);
2. Nigerian Awards;
3. Commonwealth Scholarship & Fellowship Plan; and
4. General Duties