A. INTRODUCTION

This document outlines the purpose and procedures of the Board Audit, Risk and ESG Committee (the Committee”) of the Board of Directors of the Nigeria Sovereign Investment Authority (“NSIA”). The Committee is established in accordance with Section 24 of the NSIA (Establishment) Act 2011. The Committee shall exercise such powers and functions relating to audit, risk management and ESG matters, in fulfilment of the requirements of Section 24(2) of the Act.

B. AUTHORITY AND PURPOSE

1.  This Charter sets out the delegated authority of the Committee to carry out the responsibilities established for it by the Board and on behalf of the Board as articulated in this Charter
2.  The Board Audit, Risk And ESG Committee is a standing committee of the Board of Directors (“Board”) of the NSIA established to assist the Board in fulfilling its oversight responsibilities, including the oversight over:
   • The Financial Reporting, Internal Audit, Independent/External Audit and Enterprise-Wide
     Risk Management.
   • The Internal audit and activities relating thereto.
   • The appointment, compensation, and overseeing of all audit and non-audit services
     performed by auditors, including the work of any external auditor.
   • The resolution of any disagreements between Management and the external auditor
     regarding financial reporting and other matters.
   • ESG and sustainability matters