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A key element of our definition
of self is to be a highly ethical organisation with
good corporate governance.
Our governing structure
thus aims to protect customers and the company from
risks inherent in this business and losses that could
occur as a result of human error or inadedequate systems
and control.
- Board
of Directors
- Managing
Director/ CEO
- Management Team
- Investment
Planning Committee
- Risk
Management Committee
- Investment
Management Committee
- EXCO
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| Trustfund Pensions PLC subscribes to the highest ethics of business integrity and transparency, and has institued beyond the rgulatory requirements, an elaborate governance framework that ensures an effective exercise of oversight functions by the Board of directors over the operations and risk management structures of the company. |
A key element of our definition of self is to be a highly ethical organization with good corporate governance. Transparency and accountability are fundamental elements of our internal practices and external relationships. The directors of Trustfund Pensions Plc are committed to high standards of ethics and corporate governance and have established a Code of Corporate Governance, which is in substantial conformity with the “Code of Corporate Governance for Banks and Other Financial Institutions, 2003”, as well as the “Code of Best Practices in Corporate Governance in Nigeria, 2003”. Trustfund’s governance structure thus aims to protect customers and the company from risks inherent in its business and losses that could occur as a result of human error or inadequate systems and controls. |
| The diagram below depicts Trustfund’s governance structure. |
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Board Level |
Role of the Board
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The principal responsibilities of the Board of Directors are to ensure that adequate systems, policies and procedures are in place for safeguarding the assets and capital of the company. The responsibilities of the board cover the following functions:
- Internal control and risk management;
- Financial reporting ;
- Performance Evaluation (of its activities as a body, its respective committees, individual directors, corporate performance and executive management); and
- Relationship with shareholders.
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| Membership |
| The board is made up of representatives of the company’s owners, who are objective, capable, and inquisitive, with a knowledge or expertise of the activities of and risks run by the company. The board is made up mainly of members who are independent from the daily management of Trustfund (that is, non-executive directors). |
| Independent Professional Advice |
| The Board has in place a procedure whereby directors have the right in furtherance of their duties to seek independent professional advice at the Company’s expense. Copies of any instructions and advice given by an independent professional adviser to a director are supplied by the director to the Company Secretary who, where appropriate, circulates to other directors sufficient information to ensure that other members of the Board are kept informed on issues which affect the Company. |
| Directors' Independence |
All the non-executive directors of Trustfund Pensions Plc are independent in character and judgement. No non-executive director:
• has been an employee of the NSITF group within the last seven years;
• has, or has had within the last three years, a material business relationship with the Group;
• receives remuneration from Trustfund Pensions Plc other than a director’s fee;
• has close family ties with any of Trustfund’s advisers, directors or senior employees;
• has served on the Board for more than five years. |
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