The Ngozi Oditah Foundation is governed by a board of trustee chaired by Professor Fidelis Oditah. Each trustee is a person of high professional standing with widely acknowledged commitment to the development of Nigeria.
The trustees set policy and delegate authority to the president and senior staff for grants and operations. The programme staff member identifies and develops opportunities for the foundation’s goals, designs field programme strategies and recommends proposals for funding. The approved actions are reviewed at regular board meetings. All trustees, apart from the President, are independent and have yearly opportunities to see activities and projects that are being funded by the foundation. The board of trustees also has oversight over portfolio allocations and investment strategies for growing the initial start-up allocation (the endowment).
NOF’s funds come from returns on investments made out of an endowment bequeathed to it by Professor Fidelis Oditah in 2004. The endowment is invested and managed by an independent third-party asset manager to be a sustainable source of fund for NOF’s grant making and operations.
The trustees decide the appropriate percentage of NOF’s assets that is given in grants yearly and set limits to administrative expenses in order to optimize funds available for grants as well as reinforce the investment strategy for the long-term sustainability of the foundation’s financial assets.
The foundation’s processes and actions are governed by the following documents:
1. Articles of Incorporation: This sets forth the purposes for which the foundation was established
2. Trustees Code of Ethics: This describes the procedures for avoiding actual or apparent conflicts of interest by members of the board of trustees. It also set forth the standards of independence expected of the trustees.
3. Staff Code of Conduct: This describes the procedures for avoiding actual or apparent conflicts of interest by NOF staff members, including the management staff. It also itemizes and defines the core set of values that guide the work of the foundation- integrity, respect for all people, commitment to effectiveness, and leadership by personal example.