Statement of Business PRINCIPLES & ETHICS Nigeria LNG Limited (NLNG) is a private joint venture company registered in Nigeria and formed by its shareholders to be a global LNG Company, helping to build a better Nigeria. Our mission is to market, produce and deliver LNG and NGLs to customers safely, rel ably and profitably, to grow the bus ness and its people to their full potential and to be a trusted partner with all stakeholders n the sustainable development of Nigeria's gas ndustry and of NLNG's host communities Our shared values of ntegrity teamwork excellence and caring for peop e underpin all the work we do and are the foundation of our Business Princip es. NLNG ins sts on honesty, integr ty and fairness in a aspects of our business and expects the same in our relationships with all those with whom we do business. We comply with all applicab e aws and regulations of the Federal Republic of Nigeria and the countries n which we operate In our interactions with employees, bus ness partners, communities and stakeho ders, we seek to listen and respond to them honestly and responsibly. As part of our Business Principles, we commit to contribute to sustainable development. This requires balancing short and long-term interests, integrating economic env onmental and social considerations nto bus ness decis on-making. Our Business Principles apply to all our activities large and small, and d scrib s the behaviour xpected of directors, emp oyees, subs diaries agents, intermediaries consultants joint venture or other business partners and any other persons, organ zations or bodies doing business with NLNG or any of its subsidiaries. We demand that our directors, officers and emp oyees adhere to the highest egal and eth cal standards to ensure and reinforce NLNG's status as a responsible corporate c tizen and to maintain the utmost confidence of our stakeholders. In NLNG we recogn se the importance of matching our words with action. Consequent y, the applicat on of our Business Princip es & Ethics is underpinned by policies and procedures which are designed to ensure that those who work for us understand these principles and that they act in accordance with them. We also recognise that maintaining the trust and confidence of customers, shareholders, emp oyees, contractors, suppliers and business partners as well as society and the community in which we work, is vital to our success. In NLNG, we intend to earn th s trust by conducting ourselves according to our Business princip es and Ethics. As part of our compliance system, we provide employees and stakeholders with safe and confidential channe s to raise concerns and report instances of non-compliance.It is the responsib ty of NLNG employees and stakeholders to report suspected breaches of the Business Principles and Ethics to NLNG using our Comp ance Hotl ne. NLNG's operat ons must comp y with all applicable laws rules and regulations, as well as this Statement of Bus ness Princip es and the policies and procedures that support them Act ons contrary to the Statement of Business Pr nciples are harmful to our Company and ts reputation. Violations of our Business Princip es will result n sanctions. It is the responsibility of the management of NLNG to ensure that company stakeho ders are aware of these principles and those who work for us behave in accordance with this Statement. , i i i i . i , , respect, l, l i i ll l l i . i l , ir i i i , e e e l i , , , , i l i i i l i l l i ili li i l , i l . i i i i l l l l i l Tony Attah Managing Director / Chief Executive Officer September 2017
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S ta tement o f Bus iness PRINCIPLES & ETHICS
Nigeria LNG Limited (NLNG) is a private joint venture company registered in Nigeria and formed by its shareholders to be a global LNG Company, helping to build a better Nigeria.
Our mission is to market, produce and deliver LNG and NGLs to customers safely, rel ably and profitably, to grow the bus ness and its people to their full potential and to be a trusted partner with all stakeholders n the sustainable development of Nigeria's gas ndustry and of NLNG's host communities
Our shared values of ntegrity teamwork excellence and caring for peop e underpin all the work we do and are the foundation of our Business Princip es.
NLNG ins sts on honesty, integr ty and fairness in a aspects of our business and expects the same in our relationships with all those with whom we do business.We comply with all applicab e aws and regulations of the Federal Republic of Nigeria and the countries n which we operate
In our interactions with employees, bus ness partners, communities and stakeho ders, we seek to listen and respond to them honestly and responsibly.
As part of our Business Principles, we commit to contribute to sustainable development. This requires balancing short and long-term interests, integrating economic env onmental and social considerations nto bus ness decis on-making.
Our Business Principles apply to all our activities large and small, and d scrib s the behaviour xpected of directors, emp oyees, subs diaries agents, intermediaries consultants joint venture or other business partners and any other persons, organ zations or bodies doing business with NLNG or any of its subsidiaries.
We demand that our directors, officers and emp oyees adhere to the highest egal and eth cal standards to ensure and reinforce NLNG's status as a responsible corporate c tizen and to maintain the utmost confidence of our stakeholders.
In NLNG we recogn se the importance of matching our words with action. Consequent y, the applicat on of our Business Princip es & Ethics is underpinned by policies and procedures which are designed to ensure that those who work for us understand these principles and that they act in accordance with them.We also recognise that maintaining the trust and confidence of customers, shareholders, emp oyees, contractors, suppliers and business partners as well as society and the community in which we work, is vital to our success. In NLNG, we intend to earn th s trust by conducting ourselves according to our Business princip es and Ethics.
As part of our compliance system, we provide employees and stakeholders with safe and confidential channe s to raise concerns and report instances of non-compliance.It is the responsib ty of NLNG employees and stakeholders to report suspected breaches of the Business Principles and Ethics to NLNG using our Comp ance Hotl ne.
NLNG's operat ons must comp y with all applicable laws rules and regulations, as well as this Statement of Bus ness Princip es and the policies and procedures that support them Act ons contrary to the Statement of Business Pr nciples are harmful to our Company and ts reputation. Violations of our Business Princip es will result n sanctions.It is the responsibility of the management of NLNG to ensure that company stakeho ders are aware of these principles and those who work for us behave in accordance with this Statement.
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Tony AttahManaging Director / Chief Executive OfficerSeptember 2017
NLNG VENDOR CONSEQUENCE MANAGEMENT MATRIX
S/N Type of Breach Description Applicable Sanction Duration
1 Poor Performance
Persistent underperformance or failure to deliver as per
specified terms and conditions with respect to quality,
delivery and warranty.
(i) Put Vendor On Hold pending investigation based
on poor performance or breach. 3 Months
(ii) If outcome of investigation shows vendor
negligence, vendor will be counselled to improve
performance and placed on Probation.
6 Months
(iii) Subsequently, if performance remains
consistently poor, vendor shall be placed on
Suspension.
1 Year
2 Commercial Bid withdrawal at
Award stage
Withdrawing from contract pre award due to inability to
meet commitments at bid price. Suspension# 1 Year
3 Withdrawal from Contract Withdrawing from contract post award for any reasons
deemed within contractors’ control or expected risk. Suspension## 3 years
4 Breach of Ethical Standards
* Bribery & Corruption in order to obtain commercial
advantage
* Anti-competitive arrangements with competitors.
* Restrictive arrangements with customers or resellers.