NNPC Limited Gifts and Entertainment Policy

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According to the policy, what is the general principle regarding employees accepting gifts or hospitality from business partners?

Employees can accept modest gifts and hospitality on occasion, as a legitimate contribution to good business relationships (correct)

Employees are strictly forbidden from accepting any gifts or hospitality

Employees are required to accept all gifts and hospitality from business partners as a contribution to good business relationships

Employees are encouraged to accept gifts and hospitality from business partners

What is the purpose of the rules of behavior regarding gifts and hospitality for employees at NNPC Limited?

To ensure that employees accept all gifts and hospitality offered by business partners

To protect the reputation of NNPC Limited and its employees (correct)

To allow employees to influence business decision-making processes through gifts and hospitality

To encourage employees to solicit gifts and hospitality from business partners

What should NNPC Limited’s employees consider before accepting or offering a gift or hospitality?

The financial value of the gift or hospitality

Whether the gift or hospitality is a reward for a business transaction (correct)

The frequency of the gift

The relationship with the business partner

What is the recommended action if the answer to any of the consideration questions is 'yes'?

The gift or hospitality should not be offered or accepted Signup and view all the answers

According to the NNPC Limited Code of Conduct, what is the maximum value of a gift that can be accepted without prior approval?

N100,000 or equivalent Signup and view all the answers

Under what circumstances can occasional invitations to events be accepted without prior approval?

If the events do not exceed N100,000 in value per person and do not extend over a period of more than one day Signup and view all the answers

What type of gifts or hospitality requires management approval according to the NNPC Limited policy?

Gifts or hospitality with a value exceeding the specified limits, events for periods exceeding the length, or occurring more frequently than the norms set out in the policy, and travel or accommodation Signup and view all the answers

In which scenario can special occasions justify more valuable presents or entertainment according to the NNPC Limited policy?

When involving senior NNPC Limited executives and senior external parties Signup and view all the answers

What is prohibited according to the NNPC Limited Code of Conduct in relation to gifts and hospitality?

Accepting gifts or hospitality of an inappropriate nature or in inappropriate venues Signup and view all the answers

What is the maximum value for gifts and hospitality that should be reported to the relevant regulatory and compliance unit?

N100,000 Signup and view all the answers

In what manner should all accepted gifts be treated according to the NNPC Limited policy?

Declare and register all accepted gifts in the gift register, regardless of value or whether management approval is required Signup and view all the answers

What should be done if there is doubt about whether a gift is reasonable to give or accept according to NNPC Limited’s core values?

Consult GRC for guidance Signup and view all the answers

What should be done if an offer exceeds the value allowed by the policy according to NNPC Limited’s Code of Conduct?

Consult the line manager for approval before accepting the offer Signup and view all the answers

What is emphasized in relation to giving and receiving gifts and hospitality according to NNPC Limited’s Code of Conduct?

Differentiate between giving and receiving of gifts and hospitality directly or via an intermediary Signup and view all the answers

What aspect should employees consider when deciding what gifts are reasonable to give or accept according to NNPC Limited’s Code of Conduct?

NNPC Limited’s core values and the business counterparty’s rules and practices Signup and view all the answers

NNPC Limited Gifts and Entertainment Policy

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