10 Questions
What is the primary purpose of the policy discussed in the text?
To establish guidelines for trade credits granting
Who is authorized to grant exceptions to the application of the policy discussed in the text?
GCEO
What is required to be recorded as accounts payable as per the discussed policy?
Proper documentation as per the policy
What is the purpose of the Imprest Management policy discussed in the text?
To manage NNPC Limited and its Subsidiaries' imprest funds
What happens if a debtor cannot be located?
The outstanding debt is written off
Who is authorized to grant exceptions to the application of policies within NNPC Limited?
GCEO
What is the first right of NNPC staff for movable assets approved for disposal according to the text?
To purchase the assets at a reserved price through secret balloting
How should the disposal of assets to salvage buyers be conducted according to the text?
Through an open competitive bidding
What department is responsible for overseeing the receipt of payment for disposed assets according to the text?
Finance and Treasury Department
In what circumstance can disposed assets be transferred to the buyer according to the text?
Upon receipt of evidence of payment from Treasury Department
Learn about the procedures for debt collection, including when legal proceedings fail and debts are written off. Explore compliance guidelines for debt recovery and the importance of regular reviews.
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