At NOVA, we believe adherence to the highest levels of Corporate Governance is critical to building long-term shareholder value. We have adopted best practice Corporate Governance principles which enables the Board to provide effective oversight within a framework of prudent and effective controls.
The major responsibilities of the Board include:
Provision of strategic direction by defining strategic goals, approving business strategy and monitoring implementation
Formulation of policies by which it intends to achieve its strategic goals
Oversight of the management of the business and the affairs of the Bank
Serves as the key decision-making body of the Bank
Our Board Committees include the following and complement the Board in the discharge of its fiduciary duties:
Finance, Nominations, Governance & General Purpose Committee
Risk & Audit Committee
Board Credit & Investment Committee
The Board conducts its affairs in accordance with its Board Charter and the provisions of the Nigerian Banks and other Financial Institutions Act (“BOFIA”), the Companies and Allied Matters Act (“CAMA”), the Central Bank of Nigeria’s (“CBN’s”) Code of Corporate Governance for Banks and Discount Houses in Nigeria 2014, and all other applicable laws and regulatory provisions.