Podcast
Questions and Answers
Which of the following is the correct abbreviation for Delegation of Authority?
Which of the following is the correct abbreviation for Delegation of Authority?
- NNPC
- DFA
- DOA (correct)
- PIA
Who is responsible for approving changes to a subsidiary's logo?
Who is responsible for approving changes to a subsidiary's logo?
- Board Establishment Committee
- Board Strategy, Finance and Investment Committee
- Board Audit Committee (correct)
- CEO
Which committee is responsible for approving changes to NNPC's organization structure?
Which committee is responsible for approving changes to NNPC's organization structure?
- Board Establishment Committee (correct)
- Board Audit Committee
- Board Sustainability Committee
- Board Strategy, Finance and Investment Committee
Which committee is responsible for approving NNPC's strategy formulation?
Which committee is responsible for approving NNPC's strategy formulation?
How many levels of tender committees are recognized within the DFA?
How many levels of tender committees are recognized within the DFA?
Which decision making area is responsible for approving changes to a subsidiary's mission and values?
Which decision making area is responsible for approving changes to a subsidiary's mission and values?
How are assigned financial limits determined?
How are assigned financial limits determined?
Which focus area covers matters related to Risk Management and Assurance?
Which focus area covers matters related to Risk Management and Assurance?
Which matters are reserved for shareholders and the Board?
Which matters are reserved for shareholders and the Board?
Which committee must sign off on the results of tenders evaluation for it to be valid?
Which committee must sign off on the results of tenders evaluation for it to be valid?
What is the consequence for contraventions of the DFA?
What is the consequence for contraventions of the DFA?
Who must endorse the expenditure for NNPC Limited and its subsidiaries?
Who must endorse the expenditure for NNPC Limited and its subsidiaries?
When should the annual budgets be presented to the Board for approval?
When should the annual budgets be presented to the Board for approval?
Which board is responsible for approving contracts within defined financial thresholds with the Secretariat of Supply Chain Management (SCM)?
Which board is responsible for approving contracts within defined financial thresholds with the Secretariat of Supply Chain Management (SCM)?
Which body is responsible for approving the procurement strategy, prequalification/bids evaluations reports, and negotiated contracts for consultancy and non-consultancy services?
Which body is responsible for approving the procurement strategy, prequalification/bids evaluations reports, and negotiated contracts for consultancy and non-consultancy services?
Which document details matters reserved for shareholders, the Board, and the matrix of delegated authorities for strategy & policy, governance, legal, HR, finance, risk, and assurance matters?
Which document details matters reserved for shareholders, the Board, and the matrix of delegated authorities for strategy & policy, governance, legal, HR, finance, risk, and assurance matters?
Which function is responsible for maintaining custody of the Delegation of Authority (DOA)?
Which function is responsible for maintaining custody of the Delegation of Authority (DOA)?
The Delegation of Authority (DOA) and Delegation of Financial Authority (DFA) Framework for NNPC Limited Walkthrough Session took place on July 18, 2022.
The Delegation of Authority (DOA) and Delegation of Financial Authority (DFA) Framework for NNPC Limited Walkthrough Session took place on July 18, 2022.
True or false: The NNPC Tenders Board is responsible for approving the procurement strategy, prequalification/bids evaluations reports, and negotiated contracts for consultancy and non-consultancy services?
True or false: The NNPC Tenders Board is responsible for approving the procurement strategy, prequalification/bids evaluations reports, and negotiated contracts for consultancy and non-consultancy services?
True or false: The DFA (Delegated Financial Authority) is a sub-set of the DOA (Delegation of Authority) and details the financial authority limits delegated to various cadres of Management?
True or false: The DFA (Delegated Financial Authority) is a sub-set of the DOA (Delegation of Authority) and details the financial authority limits delegated to various cadres of Management?
True or false: The Board has reserved authority for certain decision items and financial thresholds across the Company and its subsidiaries?
True or false: The Board has reserved authority for certain decision items and financial thresholds across the Company and its subsidiaries?
True or false: The GRC function is responsible for maintaining custody of the Delegation of Authority (DOA)?
True or false: The GRC function is responsible for maintaining custody of the Delegation of Authority (DOA)?
True or false: The Delegation of Authority (DOA) framework covers matters reserved for shareholders and the Board of Directors?
True or false: The Delegation of Authority (DOA) framework covers matters reserved for shareholders and the Board of Directors?
True or false: There are six (6) Decision Focus Areas within the DOA framework?
True or false: There are six (6) Decision Focus Areas within the DOA framework?
True or false: The Human Resource Management focus area is responsible for approving changes to NNPC Limited's legal structure?
True or false: The Human Resource Management focus area is responsible for approving changes to NNPC Limited's legal structure?
True or false: The Finance focus area is responsible for approving the Company's annual budget and financial statements?
True or false: The Finance focus area is responsible for approving the Company's annual budget and financial statements?
True or false: The Delegated Financial Authorities (DFA) define the financial approval limits for expenditures and commitments to third parties across NNPC Limited and Subsidiary levels.
True or false: The Delegated Financial Authorities (DFA) define the financial approval limits for expenditures and commitments to third parties across NNPC Limited and Subsidiary levels.
True or false: The CFO issues a converted DFA at the beginning of each year, using the same FX rate as the annual budget.
True or false: The CFO issues a converted DFA at the beginning of each year, using the same FX rate as the annual budget.
True or false: Contract variations are applicable to all committees chaired by the CEO/MDs.
True or false: Contract variations are applicable to all committees chaired by the CEO/MDs.
True or false: The Delegation of Authority (DOA) - Strategic Decisioning team is responsible for maintaining custody of the Delegation of Authority (DOA).
True or false: The Delegation of Authority (DOA) - Strategic Decisioning team is responsible for maintaining custody of the Delegation of Authority (DOA).
True or false: The DFA shall be considered in the development and application of other policies, including the procurement policies to be established by NNPC Limited and its subsidiaries.
True or false: The DFA shall be considered in the development and application of other policies, including the procurement policies to be established by NNPC Limited and its subsidiaries.
True or false: Management shall implement automated controls over all aspects of the expenditure cycle, including budgeting, requisition, tendering, contracting, delivering, invoicing, and payment.
True or false: Management shall implement automated controls over all aspects of the expenditure cycle, including budgeting, requisition, tendering, contracting, delivering, invoicing, and payment.
True or false: No expenditure shall be approved unless it is covered within the budget and funded, with the exception of Payroll and any Significant Recurring OPEX which has been assigned an unrestricted budget.
True or false: No expenditure shall be approved unless it is covered within the budget and funded, with the exception of Payroll and any Significant Recurring OPEX which has been assigned an unrestricted budget.
True or false: Results of tenders evaluation shall be signed off by at least 2/3rd of members of the evaluation committee either physically or electronically for it to be valid.
True or false: Results of tenders evaluation shall be signed off by at least 2/3rd of members of the evaluation committee either physically or electronically for it to be valid.
Match the following events with their respective times during the 'DOA and DFA Framework for NNPC Limited: Walkthrough Session' on July 18, 2022:
Match the following events with their respective times during the 'DOA and DFA Framework for NNPC Limited: Walkthrough Session' on July 18, 2022:
Match the following teams with their respective topics during the 'DOA and DFA Framework for NNPC Limited: Walkthrough Session' on July 18, 2022:
Match the following teams with their respective topics during the 'DOA and DFA Framework for NNPC Limited: Walkthrough Session' on July 18, 2022:
Match the following decision making authorities with their roles in decision making items:
Match the following decision making authorities with their roles in decision making items:
Match the decision making item numbers with their corresponding descriptions:
Match the decision making item numbers with their corresponding descriptions:
Match the following key elements of the delegated financial authorities with their descriptions:
Match the following key elements of the delegated financial authorities with their descriptions:
Match the following decision items reserved for the NNPC Limited Board with their corresponding categories:
Match the following decision items reserved for the NNPC Limited Board with their corresponding categories:
Match the following focus areas with their key type of actions:
Match the following focus areas with their key type of actions:
Match the following decision items with the bodies they are reserved for:
Match the following decision items with the bodies they are reserved for:
Match the following focus areas with their descriptions:
Match the following focus areas with their descriptions:
Match the following focus areas with their actions:
Match the following focus areas with their actions:
Match the following groups with their respective responsibilities within the NNPC Limited's Delegation of Authority (DOA) Framework:
Match the following groups with their respective responsibilities within the NNPC Limited's Delegation of Authority (DOA) Framework:
Match the following components and stakeholders with their custodians in the NNPC Limited's DOA Framework:
Match the following components and stakeholders with their custodians in the NNPC Limited's DOA Framework:
Match the following key design elements with their descriptions in the Delegation of Authority Framework:
Match the following key design elements with their descriptions in the Delegation of Authority Framework:
Match the following guiding principles with their corresponding standards in the Delegation of Authority Framework:
Match the following guiding principles with their corresponding standards in the Delegation of Authority Framework:
Match the following policy statements with their corresponding areas of focus:
Match the following policy statements with their corresponding areas of focus:
Match the following aspects of the DFA policy with their related details:
Match the following aspects of the DFA policy with their related details:
Match the following statements to the appropriate NNPC Limited policy:
Match the following statements to the appropriate NNPC Limited policy:
Match the following key considerations for defining the limits and developing the DFA with their corresponding activities:
Match the following key considerations for defining the limits and developing the DFA with their corresponding activities:
Match the following facts to their respective topics:
Match the following facts to their respective topics:
Match the components of the Legal Architecture with their corresponding levels:
Match the components of the Legal Architecture with their corresponding levels:
Match the following figures with their corresponding facts:
Match the following figures with their corresponding facts:
Match the following prevention tips to their respective hazard categories:
Match the following prevention tips to their respective hazard categories:
What is the consequence for contraventions of the Delegation of Financial Authority (DFA)?
What is the consequence for contraventions of the Delegation of Financial Authority (DFA)?
Who is authorized to approve the Company's annual budget and financial statements within NNPC Limited?
Who is authorized to approve the Company's annual budget and financial statements within NNPC Limited?
Which legislative act corresponds to Level 1 in the Legal Architecture components mentioned in the text?
Which legislative act corresponds to Level 1 in the Legal Architecture components mentioned in the text?
What percentage of people with Low Back Pain (LBP) recover within 12 weeks using conservative care options?
What percentage of people with Low Back Pain (LBP) recover within 12 weeks using conservative care options?
What is a requirement for the results of tenders evaluation to be considered valid?
What is a requirement for the results of tenders evaluation to be considered valid?
Which key consideration is mentioned in the text for defining the limits and developing the Delegation of Financial Authority (DFA)?
Which key consideration is mentioned in the text for defining the limits and developing the Delegation of Financial Authority (DFA)?
What is the consequence for contract splitting as mentioned in the text?
What is the consequence for contract splitting as mentioned in the text?
Who must pre-approve subsidiary budgets according to the text?
Who must pre-approve subsidiary budgets according to the text?
What is required for a payment to be made according to the text?
What is required for a payment to be made according to the text?
Which body is responsible for approving annual budgets before the start of the next financial year?
Which body is responsible for approving annual budgets before the start of the next financial year?
What is the responsibility of the NNPC Tenders Board (NTB) in relation to contracts?
What is the responsibility of the NNPC Tenders Board (NTB) in relation to contracts?
In the NNPC Limited's DFA, who determines the financial authority limits delegated to various management cadres?
In the NNPC Limited's DFA, who determines the financial authority limits delegated to various management cadres?
What consequence is outlined for contraventions of the DFA within NNPC Limited?
What consequence is outlined for contraventions of the DFA within NNPC Limited?
Who is responsible for presenting the annual budgets to the Board for approval?
Who is responsible for presenting the annual budgets to the Board for approval?
What is required for results of tenders evaluation to be considered valid based on the text?
What is required for results of tenders evaluation to be considered valid based on the text?
Which focus area has the responsibility for approving changes to NNPC Limited’s legal structure?
Which focus area has the responsibility for approving changes to NNPC Limited’s legal structure?
Who is tasked with maintaining custody of NNPC Limited's Delegation of Authority (DOA)?
Who is tasked with maintaining custody of NNPC Limited's Delegation of Authority (DOA)?
Who issues a converted DFA at the beginning of each year using the same FX rate as the annual budget?
Who issues a converted DFA at the beginning of each year using the same FX rate as the annual budget?
What is the responsibility of Management concerning expenditure cycle controls?
What is the responsibility of Management concerning expenditure cycle controls?
Which area within NNPC Limited's DOA framework is responsible for matters related to Risk Management and Assurance?
Which area within NNPC Limited's DOA framework is responsible for matters related to Risk Management and Assurance?
Which body reserves authority for certain decision items and financial thresholds across NNPC Limited and its subsidiaries?
Which body reserves authority for certain decision items and financial thresholds across NNPC Limited and its subsidiaries?
Study Notes
Delegation of Authority and Financial Authority Abbreviations
- DOA stands for Delegation of Authority
- DFA stands for Delegation of Financial Authority
Decision Making and Approvals
- The Board reserves authority for certain decision items and financial thresholds across NNPC Limited and its subsidiaries
- The CFO is responsible for approving the Company's annual budget and financial statements
- The GRC function is responsible for maintaining custody of the Delegation of Authority (DOA)
- The Finance focus area is responsible for approving contracts within defined financial thresholds with the Secretariat of Supply Chain Management (SCM)
- The NNPC Tenders Board is responsible for approving the procurement strategy, prequalification/bids evaluations reports, and negotiated contracts for consultancy and non-consultancy services
- The Board is responsible for approving changes to a subsidiary's mission and values
- The CEO/MDs approve contract variations
Financial Authorities and Limits
- The DFA defines the financial authority limits delegated to various cadres of Management
- The CFO issues a converted DFA at the beginning of each year, using the same FX rate as the annual budget
- Assigned financial limits are determined based on budget and funding
- No expenditure shall be approved unless it is covered within the budget and funded, with the exception of Payroll and any Significant Recurring OPEX which has been assigned an unrestricted budget
Tenders and Evaluation
- Results of tenders evaluation shall be signed off by at least 2/3rd of members of the evaluation committee either physically or electronically for it to be valid
- Contract variations are applicable to all committees chaired by the CEO/MDs
- The NNPC Tenders Board is responsible for approving contracts
Consequences and Compliance
- The consequence for contraventions of the DFA is outlined in the policy
- Management shall implement automated controls over all aspects of the expenditure cycle
- Contract splitting is not allowed and has consequences outlined in the policy
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
Test your knowledge on the approval limits and tender committees within NNPC Limited. This quiz will cover topics such as contracting, procurement, code of ethics, and consequence management policies. See how well you understand the levels of tender committees and their role in decision-making.
