NASSIT has ended a three-day retreat for management, Board of Trustees and the Investment Committee. The retreat took place at the Golden Tulip Kimbima Essential Hotel from Thursday, 18th to Saturday, 20th July, 2019.
The three-day event was designed to apprise members of the Board on the various activities of the Trust, particularly its current investment portfolio.
Speaking to the participants, the Director General welcomed them to the retreat, saying that it is very pivotal to the very existence of the Trust.
According to him, the retreat laid a platform to school new entrants into the governance structure of the Trust, especially the Board Investment Committee members, and the Trustees’ role as supervisors that superintend the affairs of the Trust.
Mr. Mohamed F. Daboh went on to say that the retreat would hope to review the current investment portfolio of the Trust for proper monitoring and implementation.
The Director General drew the attention of members to Section 7 of the NASSIT Act (Act No. 5 of July 2001) which empowers NASSIT to invest surplus funds to complement benefit payment.
According him, there are critical provisions of the Section which give guidelines as to how the Trust’s investment portfolio should be carried out. He said Management would lead members into the issues that they would be challenged with as a Committee in the dispensation of their duty and to also inform new entrants about the entire portfolio of the Trust’s investment in other to enable they make sound judgement in their future deliberations. He concluded by registering his Management’s commitment to support the decision of the Board and to cooperate in the execution of the mandate of the Act.
On his part, the Chairman Board of Trustees, Prof. Joseph Lawrence Kamara joined the Director General in welcoming members to the retreat. He used the opportunity to congratulate the Investment Committee members on their appointment as it was the first time he was meeting them.
He expressed his gratitude to the Committee for the zest and zeal they had demonstrated in the short time of their appointment. He called on them to be faithful and committed to their national call as the future of the scheme rests on the decision of the Board. Presentations and discussion will be made in the next two days of the retreat.