INTRODUCTION

In order to meet its compliance obligations under:

  1. The CBN Code of Corporate Governance for Microfinance Banks in Nigeria, 2018 and
  2. The FRCN Nigerian Code of Corporate Governance, 2018

Baobab MFB has initiated this independent assessment of its Board and all Directors.

In pursuit of this exercise, an independent consultant (DataPro Limited) has been engaged to conduct both a general Board Assessment and the Peer review of members.

  1. The General Assessment shall benchmark Baobab MFB Board of Directors against established and best practices and principles of the Code of Corporate Governance using attached Form IBA1.
  2. A Peer review assessment of members by themselves shall be conducted using established criteria and rating system as detailed in form IBA2
  3. Form IBA2 is divided into two (2) parts:
  • Part I is to enable a board member provide relevant information and/or details regarding other members of the board.
  • Part II is to enable a board member provide relevant information and/or details concerning board committees where he/she served during the immediate past financial year and/or other committees of the board.
  1. All completed Form IBA2 shall be submitted to DataPro who shall consolidate, compute the average rating and present the result.
  2. The Final Board Review Assessment report shall be derived from both the General Assessment and the individual Director’s Peer Review.