A. Introduction
The Compensation Committee is a standing committee of the Board of Directors (“Board”) of the Nigeria Sovereign Investment Authority (“NSIA”), established to assist the Board in fulfilling its oversight responsibility for ensuring that the compensation structure for the NSIA’s employees is consistent with the NSIA’s long-term objectives.
B. General
The Compensation Committee’s responsibilities include:
1. Compensation and Employee Benefit Plan and Programs
a. On an annual basis, review and approve the overall compensation programs from a competitive market position for all of the NSIA’s staff
b. Review and recommend to the Board the design (including appropriate performance benchmarks) of the annual incentive compensation plan for the NSIA staff.
c. Review the NSIA’s employee benefit plans for their competitiveness and compliance with applicable laws and regulations and recommend to the Board any additions, terminations or changes in such plans as may be desirable and appropriate.
