Independent Board Appraisal (2)

Welcome to your PART 2

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AUDIT & COMPLIANCE COMMITTEE SELF-ASSESSMENT

Please read each statement and rank your response based on a 5-point scale. A rating of “5” indicates that you strongly agree with the statement and “I” indicates that you strongly disagree with the statement.

Rating	Description
5	Strongly Agree
4	Agree
3	Somewhat Agree
2	Disagree
1	Strongly Disagree

A Remarks column is also provided for further comments, if applicable.

1 out of 20

III. Performance of Individual Members of the Committee (20%)

1.) I understand the vision, mission of Baobab MFB and I am aware of my duties and responsibilities as member of the Audit and Compliance Committee.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

2.) I am fully aware of the Baobab MFB Revised Charter, By-Laws and governing principles and policies and I keep myself updated on the latest best practices in corporate governance.

1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

3.) I faithfully attend Audit and Compliance Committee meetings.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

4.) I come to meeting on time and prepared about the issues to be discussed based on the agenda.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

5.) I actively participate in the discussion during the Audit and Compliance Committee meeting with independence, open mind and objectivity.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

Remark

2 out of 20

CREDIT & RISK COMMITTEE SELF-ASSESSMENT

Please read each statement and rank your response based on a 5-point scale. A rating of “5” indicates that you strongly agree with the statement and “I” indicates that you strongly disagree with the statement.

Rating	Description
5	Strongly Agree
4	Agree
3	Somewhat Agree
2	Disagree
1	Strongly Disagree

A Remark column is also provided for further comments, if applicable.

3 out of 20

I. Committee Structure and Composition (20%)

1.) The Credit & Risk Committee has at least three (3) regular members including at least one (1) independent director.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

2.) Majority of the Committee members are independent directors.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

3.) The Credit & Risk Committee is chaired by an independent director. In the absence of chairman of the committee, the members will choose a member, who is an independent director, to chair the meeting.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

4.) The frequency, duration and scheduling of the Credit & Risk Committee meetings are adequate to discuss matters relative to the performance of its duties and responsibilities.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

5.) Membership in the Credit & Risk Committee is being rotated for purposes of enrichment and best practices.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

6.) The frequency, duration and scheduling of Credit & Risk Committee meetings are adequate to discuss matters relative to the performance of its duties and responsibilities.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

7.) Membership in the Credit & Risk Committee is being rotated for purposes of enrichment and best practices.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

8.) The Credit & Risk Committee shall be made up of members with a balance of views, skills, knowledge and experience. There shall be at least a member with over 10 year’s management experience in the finance services industry.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

4 out of 20

II. Committee Duties and Responsibilities (60%)

1.) The Credit & Risk Committee performs oversight risk management functions specifically in areas of managing credit, market, liquidity, operational, legal, reputational and other risks of the Bank.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

2.) The Credit & Risk Committee serves as a catalyst in the development of a system to enhance risk management awareness and sensitivity in doing business aligned with the requirements of Basel II.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

3.) The Credit & Risk Committee oversees the Chief Risk Officer (CRO) and the annual plan of his activities.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

4.) The Credit & Risk Committee assists in the definition of business opportunities form a risk-return perspective ensuring that returns are commensurate with risks taken and they are consistent with the Baobab MFB’s risk philosophy without necessarily neglecting its developmental mandate in pre-identified areas.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

5.) The Credit & Risk Committee oversees the system of limits of discretionary authority that the Board delegates to management, ensures that the system remains effective, that limits are observed and that immediate corrective actions are taken when limits are breached.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

5 out of 20

6.) The Credit & Risk Committee ensures the development of a written plan and policy that will define the required risk management strategies in identifying, assessing, measuring, monitoring and controlling the major risks the Bank is confronted with (i.e. credit, market and liquidity, legal, operational and reputational risks, etc.), giving emphasis to the priority risk areas of concern.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

7.) The Credit & Risk Committee identifies practical strategies to reduce the chance of harm and failure or minimise losses if the risk becomes real.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

8.) The Credit & Risk Committee ensures that the risk management plan/strategies are embedded throughout the operations of the bank and implemented through proper communication to concern parties.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

9.) The Credit & Risk Committee conducts regular discussions on the Bank’s current exposure to risks based on regular management reports and calls the attention of concerned units/management for appropriate action(s) in reducing these risks, if needed.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

10.) The Credit & Risk Committee identifies/evaluates exposure to risks and assesses the probability of each risk becoming a reality and estimates its possible impact and cost. Priority areas of concern are those risks that are most likely to occur and are costly when they happen.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

6 out of 20

11.) The Credit & Risk Committee reviews and revises the risk management plans/policies/strategies as needed to ensure their relevancy, adequacy and effectiveness in the face of changing exposure to risks over time brought about by various factors (i.e. new products, processes, economic conditions, market volatility, new regulations, etc.).

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

12.) The Credit & Risk Committee evaluates possible stresses and strains that the resources of Baobab MFB may be subjected to given the myriad changes that would most probably occur in the environment taking into account emerging and interrelated risks.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

13.) The Credit & Risk Committee ensures that the Bank has a Crisis Management Plan (CMP), inclusive of Business Continuity Plan (BCP) and Disaster Recovery Programme(DCP) in place that is reviewed periodically and can be implemented automatically.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

14.) The Credit & Risk Committee reports regularly, or at least quarterly, to the Board on Baobab MFB’s overall exposure to risks, actions taken to reduce the risks and recommendations for further actions or plans as necessary as well as ad hoc reporting and evaluation of investment proposals.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

15.) The Credit & Risk Committee ensures adequate separation of duties in the risk management processes and procedures to avoid potential conflict of interest.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

16.) The Credit & Risk Committee demonstrates and ensures commitment to good corporate governance by assisting the Board in fulfilling its corporate governance responsibilities.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

17.) The Credit & Risk Committee recommends to the Board for approval, the definition of risk and return preferences, target risk portfolio, credit portfolio quality plan for the year and level of exposure to domestic and foreign banks

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

18.) The Credit & Risk Committee recommends to the Board for approval, credit risk appetite and credit portfolio strategy and ensure it is in line with the Bank’s corporate strategy;

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

19.) The Credit & Risk Committee reviews and recommends for approval of the board, as and when required, the establishment of or any material changes to:

(i) credit policies; (ii) credit guidelines; (iii) concentration risk guidelines and limits; (iv) regulatory compliance programmes for credit-related matters; (v) delegations of credit authority; (vi) the provisions for loan losses methodology; and (vii) other matters as required by regulation on the recommendation of the Management Credit Committee (MCC) and further review of the Credit & Risk Committee;

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

7 out of 20

20.) The Credit & Risk Committee exercises general oversight of the Bank’s credit portfolio and related risk management processes through a periodic review of reports on the following:

i. Credit and assets quality trends and statistics; ii. Reports on the lending activities of the major business units and lines of business which comprise the Baobab MFB's lending operations; iii. Reports on any category of credit or specialized credit activity that reflects areas of material or rapidly increasing risk (e.g., concentrations of credit, classified credits and non-performing assets, etc.); and iv. Report of the Bank’s Collateral Adequacy Assessment v. Any other matter that relates to the extension or administration of credit or the condition of the Bank's credit portfolio that is deemed appropriate by the Credit & Risk Committee or as required by regulation at a level and frequency established by the Committee.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

21.) The Credit & Risk Committee oversees the administration and effectiveness of, and adherence to the Baobab MFB’s credit policies through the review of processes and reports on the recommendation of the Management Credit Committee (MCC), other credit-related Management Committees and associated means as it deems appropriate. The review shall as a minimum, include the loan quality grading in accordance with the CBN Prudential Guidelines, internal and external audits and examinations of the Bank’s credit processes, the incidence of new problem assets and the frequency and reasons for credit policy exceptions.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

22.) The Credit & Risk Committee approves credit facility requests and proposals within limits defined by the Bank’s credit and risk policy and within the statutory requirements set by the regulatory/ supervisory authorities.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

23.) The Credit & Risk Committee reviews and assesses the adequacy of the provision for credit losses. In making its assessment, the Committee may review such measures of the adequacy of the provision as it deems appropriate, and shall periodically review the credit rating methodology used in computing the adequacy of the provisions.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

24.) The Credit & Risk Committee makes recommendation to the board on new credit products and processes.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

25.) The Credit & Risk Committee makes recommendation to the board on limit setting and assignment of credit approval authority on the recommendation of the Management Credit Committee.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

26.) Credit & Risk Committee makes recommendations to the board for approval of changes to Credit Policy Guidelines on after the review of request and/or presentation from the Management Credit Committee.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

27.) The Credit & Risk Committee reviews credit risk reports on a periodic basis.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

8 out of 20

28.) The Credit & Risk Committee receives and reviews credit exceptions in line with Board approval.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

29.) The Credit & Risk Committee makes recommendations to the Board on suggested changes to credit policy and strategy where appropriate.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

30.) Credit & Risk Committee approves credit write-offs in accordance with Credit Policy Guidelines and regulatory requirements.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

31.) Credit & Risk Committee may request attendance of their meeting(s) by invitation which they extend to relevant and required management officers of Baobab MFB such as the Chief Internal Audit, Head Legal, Head of Credit Administration and Portfolio Management, Head of Marketing/Business Development and Chief Compliance Officer (CCO).

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

32.) Credit & Risk Committee meets at least once every quarter. In addition to the quarterly meetings, the Committee can also schedule to meet every month to consider and approve urgent and important credit requests. The Chairman of the Committee may also request to hold Emergency Meetings where the need arises apart from the afore-stated quarterly and monthly Committee meetings. The decision of the majority at any such meeting will be the decision of the Committee. The Committee may also act by unanimous written resolution through a virtual meeting duly convened via formal notice and/or in lieu of a meeting.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

33.) The Secretary (Company Secretary) of the Committee provides notice of meetings as agreed with the Chairman of the Committee, but lack of notice shall not invalidate the proceeding of any meeting at which a quorum was formed with the Chairman of the Committee present or in his/her absence, with the Credit & Risk Committee Chairman’s designate. Notice of quarterly meetings shall be sent out to members of the Committee 14 days before the date of the meeting. Notice of monthly meetings shall be sent out to members of the Committee seven days before the date of the meeting.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

34.) The Secretary (Company Secretary of Baobab MFB) keeps minutes of the Committee meetings. The minutes of the Committee meetings shall be made available for approval at the next meeting of the Committee.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

35.) The Credit & Risk Committee demonstrates its responsibility of reporting and accountability by ensuring that reports of its proceedings and recommendations of each meeting are sent to the Board at the next practicable meeting of the Board. The reports to the Board shall include the quality of the Bank’s loan portfolio and any significant actions or approvals made by the Committee and other credit and risk related matters.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

36.) Overall, Baobab MFB has effective Credit & Risk Committee.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

9 out of 20

III. Performance of Individual Members of the Committee (20%)

1.) I understand the vision, mission of Baobab MFB and I am aware of my duties and responsibilities as member of the Credit & Risk Committee.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

2.) I am fully aware of the Baobab MFB Revised Charter, By-Laws and governing principles and policies and I keep myself updated on the latest best practices in corporate governance.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

3.) I faithfully attend Credit & Risk Committee meetings

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

4.) I come to meeting on time and prepared about the issues to be discussed based on the agenda.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

5.) I actively participate in the discussion during the Credit & Risk Committee meeting with independence, open mind and objectivity.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

Remark

10 out of 20

STRATEGY & FINTECH COMMITTEE SELF-ASSESSMENT

Please read each statement and rank your response based on a 5-point scale. A rating of “5” indicates that you strongly agree with the statement and “I” indicates that you strongly disagree with the statement.

Rating	Description
5	Strongly Agree
4	Agree
3	Somewhat Agree
2	Disagree
1	Strongly Disagree

A REMARKS column is also provided for further comments, if applicable.

11 out of 20

I. Committee structure and composition (20%)

1.) The Strategy & Fintech Committee has at least five (5) regular members.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

2.) The Strategy & Fintech Committee is chaired by a non-executive director with requisite broad experience, competence, skills and qualifications.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

3.) The frequency, duration and scheduling of Strategy & Fintech Committee meetings are adequate to discuss matters related to the performance of its duties and responsibilities.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

4.) Membership in the Strategy & Fintech Committee is being rotated for purposes of enrichment and best practices.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

12 out of 20

II. Committee Duties and Responsibilities (60%)

1.) The Strategy & Fintech Committee reviews Baobab MFB’s strategic plans and overall strategy and makes recommendations periodically to the Board in relation to market share enhancement, profitability growth, performance improvement, branch expansion, mergers, acquisitions, investments, divestments and business combinations.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

2.) The Strategy & Fintech Committee ensures development of the institutions strategy and discusses with management in order to determine the strategic direction and ascertain risks and mitigants associated with such strategic choice.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

3.) The Strategy & Fintech Committee reviews the process for development, approval and modification of the institution’s strategy before submitting for board approval.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

4.) The Strategy & Fintech Committee assists the management of Baobab MFB with identification of key issues, options and external developments impacting the institution’s strategy and they meet with management periodically to monitor progress of strategic goals.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

5.) The Strategy & Fintech Committee regularly acquaints and seeks the approval of the Board of Baobab MFB on status and/or progress with respect to implementation of any strategy.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

6.) The Strategy & Fintech Committee reviews and assesses annually the adequacy of the Committee’s Charter and recommends any proposed changes to the Board for approval.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

13 out of 20

7.) The Strategy & Fintech Committee exercises general oversight with respect to evaluation and development of technology-driven products and services of Baobab MFB. This includes providing a strategic vision for the institution in relation to technology-driven solutions and infrastructure.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

8.) The Strategy & Fintech Committee evaluates business plans developed by management for underlying marketing analysis supporting the business plan, level of profitability, safety and soundness, capital and liquidity needed to execute such strategies, contingency plans to remain viable under significant financial stress in relation to financial technology and associated businesses.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

9.) The Strategy & Fintech Committee assesses potential partnerships with outside Fintech firms. The committee also evaluates and understands the technologies that are proposed to be used to offer such digital products and services.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

10.) The Strategy and Fintech Committee oversees/ensures that the Baobab MFB’s IT processes, procedures, systems, practices and programmes are continuously and properly evaluated in conjunction with the Bank’s thrust on digital, internet banking facilities and technology infrastructure.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

11.) The Strategy and Fintech Committee also ensures that other IT-related developments are observed/evaluated accordingly.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

12.) The Strategy & Fintech Committee focuses in unifying and spearheading the bank’s drive towards accomplishing its developmental mandate and technological innovations that will ensure Baobab MFB is in tune with the dynamic local and global socio-economic environment.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

13.) The Strategy & Fintech Committee takes the lead in generating ideas and promoting awareness of development issues.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

14.) The Strategy & Fintech Committee ensures that the bank is advocating appropriate strategy, technology, development programmes and projects.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

15.) The Strategy & Fintech Committee ensures the expansion and strengthening of linkages within and outside the Baobab MFB towards a unified and distinct approach to accomplishing its growth and development mandate in line with the bank’s vision, mission, corporate goals and strategic objectives.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

16.) Overall, Baobab MFB has effective Strategy & Fintech Committee.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

14 out of 20

III. Performance of Individual Members of the Committee (20%)

1.) I understand the vision, mission of Baobab MFB and I am aware of my duties and responsibilities as member of the Strategy & Fintech Committee.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

2.) I am fully aware of the Baobab MFB Revised Charter, By-Laws and governing principles and policies and I keep myself updated on the latest best practices in corporate governance.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

3.) I faithfully attend Strategy & Fintech Committee meetings

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

4.) I come to meeting on time and prepared about the issues to be discussed based on the agenda.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

5.) I actively participate in the discussion during the Strategy & Fintech Committee meeting with independence, open mind and objectivity.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

Remark

15 out of 20

FINANCE & GENERAL PURPOSE COMMITTEE SELF-ASSESSMENT

Please read each statement and rank your response based on a 5-point scale. A rating of “5” indicates that you strongly agree with the statement and “1” indicates that you strongly disagree with the statement.

Rating	Description
5	Strongly Agree
4	Agree
3	Somewhat Agree
2	Disagree
1	Strongly Disagree

A REMARKS column is also provided for further comments, if applicable.

16 out of 20

I. Committee structure and composition (20%)

1.) The Finance & General Purpose Committee has at least three (3) members including the Chairman.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

2.) The Finance & General Purpose Committee is chaired by a member appointed by the Chairman of the Board or any assigned member of the Committee in his absence.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

3.) The frequency, duration and scheduling of Finance & General Purpose Committee meetings are adequate to discuss matters relative to the performance of its duties and responsibilities.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

4.) Membership in the Finance & General Purpose Committee is being rotated for purposes of enrichment and best practices.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

17 out of 20

II. Committee Duties and Responsibilities (60%)

1.) The Finance & General Purpose Committee review Baobab MFB's strategic and operational plans from the perspective of funding, capital expenditure and financing requirement as well as expenses.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

2.) The Finance & General Purpose Committee assesses the appropriation policy and the declaration of appropriation or other forms of distributions of profits made by Baobab MFB.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

3.) The Finance & General Purpose Committee establishes delegations of authority to the Committee or Management with respect to financial matters.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

4.) The Finance & General Purpose Committee reviews compliance with other regulatory requirements in relation financial and general matters.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

18 out of 20

5.) The Finance & General Purpose Committee reviews and oversees vendors, contracts, supplies, tender, bid evaluations and procurement policies as well as related matters and recommends them for Board approval.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

6.) The Finance & General Purpose Committee considers and reviews the management of finances Baobab MFB and appraises financial implications of any proposed activities and makes necessary recommendations to the Board for approval.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

7.) The Finance & General Purpose Committee considers and reviews the annual budgets and accounts of Baobab MFB and also regularly reviews reports on performance against budget for a financial year and avails its thoughts and/or recommendations to the Board.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

8.) The Finance & General Purpose Committee oversees the investment activities of Baobab MFB and formulates broad investment plans and strategies in collaboration with management for onward presentation to the board for considerations and approval.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

9.) The Finance & General Purpose Committee periodically reviews the Baobab MFB operating policies and procedures and makes recommendation to the Board for approval.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

10.) The Finance & General Purpose Committee establishes the major policy criteria for investment decisions in collaboration with management and makes recommendation to the Board for consideration and approval.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

11.) The Finance & General Purpose Committee determines areas of investment of available funds and their limits along with management interactions and makes recommendations to the board for their review and approval.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

12.) The Finance & General Purpose Committee reviews the overall bank assets held to determine their safety, value, investments and advisability of retaining or disposing of such assets and makes recommendations to the board for approval

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

13.) The Finance & General Purpose Committee determines the investment, reinvestment and disposition of funds or properties, as well as business combinations, such as capital reconstruction, capital reductions, takeovers, mergers and acquisitions in terms of their impact on Baobab MFB and makes necessary recommendations to the board in the areas that will be favourable to the bank.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

14.) The Finance & General Purpose Committee reviews critical and important accounts as well as suspicious transactions/activities as presented or reported by financial controls/internal control/internal/audit/Compliance at least once every twelve (12) months to determine the viability, profitability or otherwise of such accounts, transactions, assets, and/or whether the customers, transactions, activities and/or accounts are being managed in accordance with the corporate, strategic and/or regulatory requirements.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

15.) Overall, Baobab MFB has effective Finance & General Purpose Committee.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

19 out of 20

III. Performance of Individual Members of the Committee (20%)

1.) I understand the vision, mission of Baobab MFB and I am aware of my duties and responsibilities as member of the Finance & General Purpose Committee.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

2.) I am fully aware of the Baobab MFB Revised Charter, By-Laws and governing principles and policies and I keep myself updated on the latest best practices in corporate governance.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

3.) I faithfully attend Finance & General Purpose Committee meetings.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

4.) I come to meeting on time and prepared about the issues to be discussed based on the agenda.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

5.) I actively participate in the discussion during the Finance & General Purpose Committee meeting with independence, open mind and objectivity.

(1) Strongly Disagree (2) Disagree (3) Somewhat Agree (4) Agree (5) Strongly Agree

Remark

20 out of 20

Baobab Board Appraisal (final section)

Title