This document outlines the purpose and procedures of the Finance and General-Purpose Committee (the Committee”) of the Board of Directors of the Nigeria Sovereign Investment Authority (“NSIA”).
The Finance and General-Purpose Committee is established in accordance with Section 24 of the NSIA (Establishment) Act 2022. The Committee shall exercise such powers and functions, relating to compensation, risk management and audit matters, in fulfilment of the requirements of Section 24(2) of the Act.
B. AUTHORITY AND PURPOSE
The Finance and General-Purpose Committee is a standing committee of the Board, established to assist the Board in fulfilling its responsibility to:
1. Oversight NSIA’s material and strategic financial matters, including those related to the funding of the Authority and subsidiary operations, as well as general operations structure.
2. Oversee the Authority’s IT, Procurement, financial strategy, operations and administrative activities.
3. Ensure the compensation structure and human capital management for NSIA’s employees is consistent with the NSIA’s long-term objectives as well as overseeing a plan for continuity and development of senior management for the Authority.