A. INTRODUCTION

This document outlines the purpose and procedures of the Finance Committee (the Committee”) of the Board of Directors of the Nigeria Sovereign Investment Authority (“NSIA”).

B. AUTHORITY AND PURPOSE

The Committee has been established to carry out the following functions:
1. to exercise oversight responsibility with respect to NSIA’s material and strategic financial matters, including those related to the funding, budgeting, expenditure and general operational and financial structure;

2. to advise and, as appropriate, authorize NSIA’s Management (“Management”) with respect to such matters; and

3. to direct and, as appropriate, make recommendations to the Board with respect to such matters.

C. COMPOSITION OF THE COMMITIEE

1. The Committee shall have at least three members of the Board, appointed by the Board on the recommendation of the Chairman of the Board;
2. One of the Committee members shall also be the Committee’s Chairman;

3. Committee members should aim to serve for a term of at least three years;