Annual Report 2011

Transcription

Annual Report 2011

Hope
Chams PLC
springs
eternal
2011
Annual Report
and Accounts
Chams PLC 2011 Annual Report
Table of Contents
Table of Contents
Consolidated Profit And Loss Account 27
3
Vision & Mission Statement
Consolidated Balance Sheet 28
5
Directors, Officers & Professional
Advisers7
Consolidated Statement
of Cash Flows 29
Chairman’s Statement 9
Notes to the Financial Statements
A Brighter Tomorrow! 10
Consolidated Statement of
Value Added 43
Corporate Governance12
Directors’ Report Consolidated Financial Summary
14
Products and Services 45
Report of the Audit committee22
Report of the Independent Auditors
Statement Of Significant Accounting
Policies 24
At A Glance
26
23
Subsidiaries46
List of Unclaimed Dividends
Corporate Directory 55
47
30
44
Hope springs eternal
4
Vision & Mission Statement
O UR EN V I SI O N ED F U T UR E
A company of Nigerian origin, we will be extremely influential and highly visible in global technology. Our trusted cutting edge technology will enhance the quality of life in a manner that glorifies
God. We would be employer of first choice.
O ur V ision
To be the leading provider of innovative and beneficial technologies that improves the quality of
life.
O ur Mission
To design and deploy innovative and beneficial technologies, while creating value for all our
stakeholders
O ur Core Va lues
1. Create a healthy and dynamic work environment characterized by Z-CASE
• Zero tolerance for excuses
• Candor
• An entrepreneurial spirit,
• Strong bonds between past and present Chams family
• Excitement
2. It is imperative to delight our customers by making our technologies available 24/7
3. We commit to giving back to society through group activities that will positively impact on
our communities.
4. Faith in God
5
6
Directors, Officers & Professional
Advisers
B OAR D O F D I R E CTOR S
BANKERS
yy
yy
yy
yy
yy
yy
yy
•
UBA PLC
Plot 226, Idowu Taylor Street
Victoria Island,
Lagos.
•
First Bank PLC
Adeola Odeku
Victoria Island
Lagos.
•
Zenith Bank PLC
Ajose Adeogun
Victoria Island
Lagos.
•
GTBank PLC
Awolowo Road
Ikoyi
Lagos.
•
Fidelity Bank PLC
Kofo Abayomi Street
Victoria Island
Lagos
•
Skye Bank PLC
Adeola Hopewell Street
Victoria Island
Lagos
•
Keystone Bank Limited
Allen Avenue
Ikeja
Lagos
•
Access Bank PLC
Awolowo Road
Ikoyi
Lagos
•
Wema Bank PLC
Idowu Taylor Street
Victoria Island
Lagos
Prof Adebayo Dada Akinde- Chairman
Sir. Demola Aladekomo
- Managing Director
Alh. Idi Mohammed Farouk - Member
Engr Akin Sawyerr
- Member
Alh. Tunde Yusuf
- Member
Mr. Femi Williams
- Member
Very Revd Ayo Richards
- Member
C O M PA N Y S E C R E TA R Y
•
Idowu Logile Esq.
L E G AL A D V I S E R s
•
Marriot Solicitors
91 A, Lewis Street,
Lagos.
•
Straddle Partners
199, Igbosere Road,
Opposite High Court,
Lagos.
REGISTERED OFFICE
•
8, Louis Solomon Close,
Off Ahmadu Bello Way,
Victoria Island, Lagos.
AUDITORS
•
BDO Professional Services
ADOL House,
15 IPM Avenue,CBD, Alausa,
Ikeja, Lagos.
REGISTRARS
•
First Registrars
Plot 2, Abebe Village Road
Iganmu, LagosBA Plc
7
Chams PLC
Notice of Annual General Meeting
NOTICE IS HEREBY GIVEN that the Twenty-Eighth Annual General Meeting of Chams Plc will be
held on Wednesday 21st November, 2012 at Chams PLC, Plot 1288, Ahmadu Bello Way, Garki,
Area 11, Abuja, at 11:00 am for the transaction of the following businesses:
ORDINARY BUSINESS
1. To receive the audited accounts of the Company for the year ended 31st December, 2011 and the reports of the Directors, Auditors and Audit Committee thereon.
2. To re-elect the Directors.
3. To fix the remuneration of the Directors.
4. To re-appoint the Auditors and authorize the Directors to fix the remuneration of the Auditors.
5. To elect/reelect members of the Audit Committee.
NOTES
a. PROXIES
A member of the Company entitled to attend and vote at the meeting is entitled to appoint a proxy to attend and vote instead
of him/her. A proxy need not be a member of the Company. A proxy for an organization may vote on a show of hand and on a
poll. To be valid, executed forms of proxy should be deposited at the registered office of the Company or with the Registrars not
less than 48 hours before the time of holding the meeting.
b. CLOSURE OF REGISTER
The Register of Members and the Transfer Books of the Company will be closed from Thursday 8th October to Wednesday 14th
October, 2012 both days inclusive.
c. AUDIT COMMITTEE
In accordance with section 359(6) of the Companies and Allied Matters Act, Cap C20 LFN 2004, a shareholder may nominate
another shareholder for appointment as a member of the Audit Committee by giving notice to the Company Secretary at least
21 days before the Annual General Meeting.
Dated this 30th day of October, 2012
BY ORDER OF THE BOARD
IDOWU LOGILE ESQ.
Company Secretary
8
Chairman’s Statement
D
istinguished Ladies and Gentlemen; it is my
pleasure to welcome you to this year’s Annual
General Meeting holding today 21st November,
2012. As is customary, we will be presenting to
you the audited Financial Statements for the financial year ended 31st December 2011, an overview of the
operating environment and the performance of your company for the year.
O verview of t h e O per a ting
E nvironment
It was clear before the end of 2011 that many economies,
particularly in Europe were in for a double dip recession instead of recovery. Members of the Eurozone continue to make
concerted efforts to ensure that bail-out packages are made
available to the worst-hit economies.
2011 in Nigeria was characterized mainly with the general
elections and efforts by the Central Bank of Nigeria (CBN) to
make banking services more efficient and responsive to demands in a world where change is rapid and resultant effects
are profound.
The year under review, like 2010, witnessed an almost nonexistent provision of credit by the banks despite the CBN’s
liquidity injection into the banking system.
The CBN cashless policy came alive with the introduction
of various instruments and guidelines to drive its operations
within the country. This was a good development for your
company as it not only got the CBN’s license as a PTSP but
also the approval to deploy the BITEL brand terminals. Your
company also got a license as a Mobile Payment Operator in
Nigeria.
While these initiatives have generally been applauded to be
steps in the right direction, there is no doubt that additional
structures and reforms are required in order to consolidate on
the gains made so far.
O ur P erform a nce
Regrettably, the projects we have on hand and opportunities
around us have not translated into the performance we envisaged when promises were made to the distinguished gathering at the last Annual General Meeting.
Inconsistencies in Government policies which affected some
of our major projects, notably the independent deployment
and management of ATM’s and the National ID Project coupled with the long incubation period of these projects have
led to the sub-optimal turnover.
Your Board of Directors and management have had great concern about the level of performance of your company in the
recent past. Realizing that urgent measures are required to
redress the situation, your Board of Directors directed management to carry out an internal stock taking exercise of the
company to assess the state of affairs of the company. More
importantly, the Board embarked on an external assessment
by engaging the services of consultants who have expertise
and vast experience in business turnaround to help us in the
reinvention and repositioning of your company for excellent
performance.
All your Directors participated actively in the exercise which
has culminated in a strategic business plan that covers the
next five years inclusive of a two-year corporate plan.
Execution of these plans have commenced from the last quarter of 2012. We see the light at the end of the tunnel and at
this time covet your understanding and prayers.
B o a rd of D irectors
There are no changes to the Board of Directors in the year under
review.
F uture O ut l ook
Several long-awaited Public Sector Projects have either been
awarded or are in execution stage. Our new strategic direction
is also taking us away from over dependence on Public Sector
business. We have the people and infrastructure to deploy in
this new direction.
I wish to express my profound appreciation to the management team for their dedication and sacrifices. I also thank my
colleagues on the Board for their painstaking commitment
and cooperation throughout the financial year. Finally, I thank
our esteemed shareholders for their faithfulness and support
for the company.
Thank you and God bless.
Bishop(Prof) A. D. Akinde
9
M a n a ging D irector ’ s S peec h
A Brighter Tomorrow!
Dear Shareholders
Y
ear 2011 was a year replete with notable events both in the political and business spheres with attendant effects on
the performance of your company, Chams Plc.
The year started on a bright note with signs that the global financial meltdown impacted by strategic interventions was
beginning to give way to a sound and promising future. Economic and structural reforms held sway all through 2011.
Whilst the reforms would seem to have benefited some sectors of the economy, for example, the Banks, Telecommunication,
Manufacturing and Insurance, a greater percentage of companies in the other sectors were not so lucky.
Businesses had to grapple with persistent threat of inflation throughout the year under review. In spite of CBN’s determined
efforts to reduce inflation to a single unit, it was never achieved. In fact, the Consumer Price Index obtained from the National
Bureau of Statistics (NBS) for the Month of December 2011 indicates that inflation rate in Nigeria only dropped marginally from
10.5% in November, 2011 to end the year at 10.3%.
Though the management of your company worked tirelessly to avert any possible adverse impact that the year under review
could have on our businesses, we still fell behind on our expectations primarily due to the following reasons:
1. Limited access to credit in the local banking sector due to current banking reforms
2. Policy inconsistency of government and its attendant effects on businesses and projects
3. Continued delay of the national budget and poor implementation which led to its extension to the 3rd and 4th quarters of the year 2011.
CONTINUO U S R E ST R U CT U R I N G
The year 2011 witnessed the commencement of a deliberate change of strategy for competiveness in view of the prevailing economic
challenges. We also restructured parts of our business to a central location as part of efforts at efficient use of space and other resources.
The Group restructuring is still ongoing and will continue until we find a right balance that will help us deliver on our promises to our
valued stakeholders.
CB N “ CASHL I T E ” P R OJ E CT
At Chams, we are already poised to take full advantage of the Central Bank of Nigeria’s “Cashlite” project. Our Approval-In-Principle
(AIP) mobile payment license was obtained in the previous year and our solution is already being deployed on a pilot phase with remarkable success. The solution characterized by our usual innovativeness, and ease of use and cutting edge technology promises to change
the face of payment in Nigeria. It must be mentioned that this singular solution is the future of transactional and payment processes
with its huge propensity to dramatically yield untold value for our esteemed stakeholders. We are primed to roll out in full force with a
view to capturing a substantial size of the market.
10
PAY MENT TER M I N AL SE R V I C E P ROV IDER ( P T S P ) L IC ENS E A ND
TE RMINAL CE R T I F I CAT I ON
In furtherance of the CBN’s “Cashlite” project, we were awarded a PTSP license by the apex bank through one of our subsidiary companies -Paymaster. The license is to enable your company deploy and maintain Point of Sales Terminals which is projected to be one of
the major channels of the Cashlite project. It is important also to note here that the Central Bank of Nigeria (CBN) also approved BITEL
POS/POT as one of the terminals to be deployed for the project. This particular brand of terminal is exclusively represented in Nigeria by
your company.
May we state here that the Cashlite project kicked off very well and has been gathering momentum by the day since then. We are
convinced that it is the best for our economy at this time. If the apex bank sustains the awareness of the project, it will only be a matter of time for our people to catch up with the culture of reducing the level of cash they carry around. Needless to mention that your
company is poised to take maximum advantage of this project with our innovative products and solutions.
Corporate Governa nce
As we said at our last AGM, your company appointed a Group Head, Internal Audit, as a result of our resolve to ensure a strong risk
management and adherence to Corporate Governance. The Board Committees were further strengthened in order to enable them
deliver on their mandate. These changes have helped in our overall objectives of maintaining integrity and independence of the Board
of Directors’ supervisory responsibilities and that of management.
Preparing for t h e F uture
The future, I can say with all sense of certainty is bright. Though we have had unexpected delays in several projects due to the prevailing
operating environment, we have sound strategies to survive the storm.
At our last AGM, we promised shareholders an improved performance based on our projections for the 2011. The first two quarters
of the year looked very promising and this was partly the basis for our promises. However, the general elections of 2011 stalled a lot of
businesses in the country as attention was focused on completing the exercise.
A lot of business activities suffered from this unfortunate incident and our company was not spared. The persistent security challenges
that have rocked several parts of the country also have had a very negative impact on businesses. These events have made our company
re-strategise in order to remain in business and deliver on our promises to shareholders.
It may have taken longer than expected, but we believe that with all the investments that we have made and the unfolding opportunities, our future is certainly bright. Perhaps because of the nature of our very dynamic Industry (ICT), the story of Chams is one replete
with challenges and victory. We have faced several odds right from the foundation of this Company to get to our current position. The
good story however is that we have always triumphed in the end. Today, there are still challenges that we face but because of our faith
in God and our dogged commitment coupled with your support, we are confident that it can only get better.
As a Company noted for innovation, Chams will not relent in the quest towards breaking new grounds in innovation. While working
on new solutions that will deliver additional value to our nation and make our shareholders smile. Several projects that have been in
development stage and the ones being pursued are all gradually coming through with one award after the other. One thing that we
will promise you by the grace of God is that your company has a brighter future. Paradoxically, new government policies make our
technologies very relevant to the future and this is where we believe that we will continue to have the edge over others.
I must sincerely commend you, our esteemed shareholders for your patience and continued support these past challenging years, be
assured that we are committed to returning a worthwhile and bountiful harvest for your faith and investment, which is why we are still
in business. Thank you for your attention and God Bless you.
Demola Aladekomo
11
Corporate Governance
T
he companies that make up the Chams Group are
advocates and practitioners of corporate governance
codes. The practice of corporate governance fosters
openness, transparency, accountability, honesty, selflessness, integrity, leadership and performance measurement. This is visible through the adherence of international
best practice in the following areas:
COMPLIANC E W I T H T H E COD E O F
COR PO R ATE GOV E R N A N C E
The Board as a whole is comprised of a number of sub-committees amongst which are audit and finance committees. The
Board is comprised of high profile non-executive members serving in various capacities in the sub-committees mentioned above
and involved in setting the emoluments of the managing director and other directors of the company. The non-executive directors are appointed for a fixed period and have to be re-elected
by the shareholders at an AGM. The company is committed to
full disclosure and transparency in providing information to all
stakeholders because of its belief that this is the most important
driving force in any good governance process.
R I SK MANAG E M E N T F U N CT I ON
Across the group, the internal audit function ensures that compliance, operational and financial controls are in place, in order
to minimize risk. The Internal Audit unit ensures that these functions are performed. The Audit Committee also has risk management oversight function to ensure full compliance.
PUBLISHING OF F I N A N C I AL
STATEMENT S A N D AU D I TOR S
RE PO R T
The implementation of audit exercises and the publishing of
company annual reports as well as group annual reports help
to foster transparency and openness. The use of highly qualified
external auditors from a reputable audit firm helps to minimize
external risks as well as ensuring that information contained in
our financial reports are accurate. Your company is continuously
working on improving the free flow of information to all stakeholders and the public.
12
CO MM U N ICAT IO N B ET W EEN
B OA RD O F DIRECTO RS A N D
S HAREH O L DERS
Apart from the Annual General Meetings, your company has
recognised the need to carry the shareholders along through
periodic sensitization of developments in the organization. This
is to ensure that there is an avenue for continuous flow of information and to foster better understanding.
CO RP O RAT E S O C IAL
RES P O NS IB IL ITY
Corporate Social Responsibility is an integral part of the activities of the companies in the Chams Group. We believe in giving
back to the society and this is done through activities such as
the Chams Theatre series ,a strategic contribution of Chams Plc
to the rejuvenation of the Arts in Nigeria and the soup kitchen
through which we reach the under-privileged and disadvantaged in the society.
The amount of donation and charitable gifts the Chams Group
made amounted to N27,936.465.11 in 2011.
G OAL CO N G RU EN C E A MO N G
STA KEH O L DER G RO U P S
This has to do with ensuring that there is synergy between directors and shareholders thereby reducing conflict and ensuring
that directors fully maximize the wealth of shareholders. Other
stakeholders are also taken into consideration such as suppliers,
employees and so on, in order to ensure that components of
each organization are working in tandem towards the realization of stated objectives.
REM U N ERAT IO N
The remuneration of directors and top-level management are
performance based. This is to ensure that the company does not
reward directors and managers for failure and non-performance.
Q UALITY CO NT RO L
Revalidation of ISO 9001: 2008
The organizations within the Chams Group work assiduously to
ensure that their operations meet international standards. This
can be seen through the award of ISO certification and recer-
tification to some member companies in the group while plans
towards getting ISO certified are in top gear for those yet to be
certified.
ATT ENDA N C E AT B OA RD
M EET ING S F O R T H E YEA R EN DED
3 1 ST DEC EM B ER 2 0 1 1
B OAR D FINA N C E A N D
COR PO R ATE GOV E R N A N C E
COMMITTEE
Director
The committee acts on behalf of the Board on matters relating to financial management. It reviews the budget, audited accounts and is responsible for providing useful advice to the company’s management team as and when required. The members
are as follows:
Name
No of
Meetings
Attendance
Bishop (Prof) A. D. Akinde
4
4
Mr. Demola Aladekomo
4
4
Alh. Idi Farouk
4
2
Alh. Tunde Yusuf
4
4
Engr. Akin Sawyerr
4
4
Mr. Femi Williams
4
4
Very Revd. Ayo Richards
4
4
Status
No of
Meetings
Attendance
Very Rev Ayo Richards
Chairman
4
4
AU DITO RS
Alh. Tunde Yusuf
Member
4
4
Member
4
4
Idowu Logile Esq.
Secretary
4
4
Olayinka Ikiebe
Member
4
4
Christiana Olaniyan
Member
4
4
The Auditors, Messrs BDO Professional Services have indicated
their willingness to continue in office in accordance with Section
357(2) of the Companies and Allied Matters Act CAP C20 LFN,
2004, a resolution will be proposed at the Annual General Meeting to authorise the Directors to fix their remuneration.
AUDIT CO MMI TT E E
This is established in accordance with part C of the code of
corporate governance. It comprises dedicated individuals with
proven integrity that have a thorough understanding of standard practice.
Name
Status
No of
Meetings
Attendance
1. Mr. Emmanuel Onochie
Chairman
3
3
2. Very Rev Ayo Richards
Member
3
3
3. Alh. Tunde Yusuf
Member
3
3
4. Mr. Moses Igbrude
Member
3
3
5. Mr Femi Williams
Member
3
3
6. Mr Doyin Owolabi
Member
3
3
Idowu Logile Esq.
Company Secretary
B OAR D MEET I N GS
The Board and its Committees met as follows:
Board/Committee Meeting
No of
Meetings
Board of Directors
4
Chams Plc Audit Committee
3
Board Finance and Corporate Governance
Committee
4
13
Directors’ Report
F or the ye a r ended 31 D ecember 2 0 1 1
T
he Directors present their annual report on the affairs of Chams Plc (“the Company”), and subsidiaries
(together “the Group”), together with the group audited financial statements and the auditor’s report for
the year ended 31 December 2011.
of Transaction and Point Of Sales terminals; ChamsAcccess
limited, licensed consortium for the deployment of ATMs in the
country also involved in the deployment of multi application terminals; and ChamsSwitch , engaged in provision of the e-payment transaction processing platform for the Nigerian Market.
Legal Form
O per ating Resu lts
The company was incorporated as a private limited company
on September 10th 1985 and became a public limited company
in 2007. At the 23rd Annual General Meeting of the Company
on 6 June 2008, the shareholders authorised the Directors to
change the name Chams Nigeria PLC to CHAMS PLC. Subsequent to the Placements authorised by the shareholders, an application was made to the Council of the Nigeria Stock Exchange
for the admission of all the issued and paid up shares of the
Company to the Daily Official List of the Exchange through Listing by Introduction.
The following is a highlight of the Company’s operating results
for the year under review:
Principal Activities
Group
Company
2011
2010
N’000
N’000
1,777,737
1,309,435 (1,090,951)
(784,415) 686,786
525,020 Loss before taxation
(1,198,400)
(596,616) Loss per share(Naira)
(26)
(13) Turnover
Cost of sales
Gross profit
The principal activities of Chams Plc and its subsidiaries continue
S h a re
to be provision of identification, transaction and payment solutions. This includes the development, deployment, implementation and maintenance of technolYear
Authorised
ogy based systems, computing
and solutions platforms, commuIncrease
Cummulative
nication infrastructure and other
1985
100,000
100,000
services designed to facilitate the
2004
99,900,000
100,000,000
operations of all forms of electronic business.
Subsidi aries
The company has four subsidiaries; CardCentre Nigeria Limited, engaged in the production
and manufacturing of Cards –
Identity, payments, Smart cards
et al; PayMaster Limited, engaged in the deployment of Point
14
2005
200,000,000
ca pita l History
Issued Share
Capital
Consideration
Increase
Cummulative
100,000
100,000
Cash
0
100,000
Cash
300,000,000
0
100,000
Cash
2006
0
300,000,000
99,900,000
100,000,000
Cash
2007
2,200,000,000
2,500,000,000
72,060,000
172,060,000
Cash
2007
2,500,000,000
5,000,000,000
172,060,000
344,120,000
Cash
2007
0
5,000,000,000
1,378,480,000
1,720,600,000
4 for 1 Bonus
2008
0
5,000,000,000
2,000,000,000
3,720,600,000
Cash
2008
0
5,000,000,000
975,000,000
4,696,060,000
Cash
2009
0
5,000,000,000
0
4,696,060,000.
Cash
2010
0
5,000,000,000
0
4,696,060,000
Cash
2011
0
5,000,000,000
0
4,696,060,000
Cash
Directors w h o served during
th e ye ar
The following Directors served during the year under review:
Name
Designation
Bishop A.D. Akinde
Chairman
Managing
Director
Alhaji Idi Mohammed Farouk
Member
Engr. Akin Sawyer
Member
Mr. Femi Williams
Member
Mr. Tunde Yusuf
Member
Very Revd Ayo Richards
Member
1. Directors’ interest in shares
The direct interest of directors in the issued share capital of
Chams Plc as recorded in the register of directors shareholding
and/or as notified by the directors for the purposes of sections
275 and 276 of the Companies and Allied Matters Act and the
listing requirements of the Nigerian Stock Exchange is as follows: Dec. 2011
Direct Units
Dec. 2010
Direct Units
Dec. 2009
Direct Units
1. Bishop A.D. Akinde
30,215,000
30,215,000
30,215,000
2. Engr. Akin Sawyerr
3,240,000
3,240,000
3,240,000
3. Alh. Tunde Yussuf
69,750,000
50,000,000
50,000,000
4. Alh. Idi Farouk
13,240,000
13,240,000
13,240,000
5. Demola Aladekomo 563,990,229 563,990,229 549,550,229
6. Olufemi Williams
7. Very Rev. Ayo
Richards
32,000,000
32,000,000
32,000,000
1,087,000
1,087,000
0
DI S CLOS URE OF SU BSTA N T I AL
SHAREHOLDI N G ( A BOV E 5%) AS
AT D ECEMB E R 2011
a. Demola Aladekomo
563,990,229
12.02
b. SmartCity
462,068,759
9.8
An a lysis of S h a re h o l ding
The analysis of the distribution of the shares of the Company as
at 31 December 2011 is as follows:
Range of shares
1-1,000
Number of
Shareholders
%
504
Number of shares
4.86%
329,680
1,266 16.08%
4,120,913
5,001- 10,000
911 15.05%
7,759,362
10,001 - 20,000
717
1,001- 5,000
8.76%
11,600,002
20,001 - 50,000
1662 11.15%
63,873,350
50,001 - 100,000
1090 14.34%
93,734,515
100,001 - 200,000
688
8.35%
114,568.671
200,001 - 500,000
727
9.66%
270,167,391
500,000 - 10,000,000
800 11.04%
1,661,120,886
10,000,001 and above
55
0.71%
2,468,785,230
8420
100%
4,696,060,000
Retirement of Directors
In accordance with the articles of association, Bishop A. D.
Akinde and Alhaji Tunde Yusuf appointed Directors since the last
Annual General Meeting will retire at this Annual General Meeting and being eligible offer themselves for re-election.
S t a tement of D irectors ’
responsibi l ities for t h e
fin a nci a l st a tements for
t h e ye a r ended 3 1 D ecember
2011
In accordance with the provisions of the Companies and Allied
Matters Act of Nigeria, the Directors are responsible for the preparation of financial statements, which give a true and fair view of
the state of affairs of the Company and of the profit or loss for
that year. In so doing, the Directors are required to ensure that:
a. Proper accounting records are maintained which disclose
with reasonable accuracy the financial position of the Company and which ensures the financial statements comply
with the requirements of the Companies and Allied Matters
Act.
b. Applicable accounting standards are followed.
c. Suitable accounting policies are adopted and consistently
applied.
d. Judgments and estimates made are reasonable and prudent.
15
e. The going concern basis is used, unless it is inappropriate to
presume that the Company will continue in business.
f.
Internal control procedures are instituted which, as far as is
reasonably possible, safeguard the assets of the Company
and prevent and detect fraud and other irregularities.
D on a tions a nd C h a rit a b l e
G ifts
The Company identifies with the aspirations of the community
as well as the environment within which it operates and made
voluntary donations to various charitable organizations and other institutions in the country details of which are shown below.
No donation was made to any political organization.
The Company during the year donated a total sum of
N27,936,465.11 to
Details of donations
N
Donation of 10 Averatec Computer systems
to Lagos State University
1,975,255.10
Donation of 10 Averatec computer systems
to Osun State University
1,975,255.10
Donation of 1 computer system to The
Apostolic Church Grammar Sch
197,525.10
Donation of 2 Averatec computer systems
for educational causes
395,041.02
Donation towards Community
Development – Eze Epara (Port-Harcourt)
200,000.00
Donation to OAU Tech Foundation
300,000.00
Donations in support of ‘I See Lagos
Project’
15,000,000.00
5,000,000.00
Donation to Nigerian Computer Society
1,196,689.19
Various corporate gifts to clients
830,000.00
Donations in support of funeral services
(Staff)
500,000.00
Donation to DATA Foundation
170,000.00
Donations regarding Chams 26th
Anniversary
100,000.00
Total
Information relating to changes in tangible assets is given in note
13 of the financial statement.
E mp l oyment a nd emp l oyees
a. Employment of physically challenged persons
The Company has a non-discriminatory policy on recruitment. Applications would always be welcomed from suitably qualified disabled persons and are reviewed strictly on
qualification. The Company’s policy is that the highest qualified and most experienced persons are recruited for appropriate job levels irrespective of an applicant’s state of origin,
ethnicity, religion or physical condition.
b. Health safety and welfare of employees
Health and safety regulations are in force within the Company’s premises and employees are aware of existing
regulations. The Company provides subsidies to all level of
employees for medical expenses, transportation, housing,
lunch etc.
c. Employees involvement and training
The Company is committed to keeping employees fully
informed as much as possible regarding the Company’s
performance and progress and seeking their opinion where
practicable on matters, which particularly affect them as
employees.
Training is carried out at various levels through both in-house
and external courses. Incentive schemes designed to encourage
the involvement of employees in the Company’s performance
are implemented whenever appropriate.
P ost B a la nce S h eet Events
Donations in support of Kaduna project
Donation to Nigerian Computer Society
F i x ed a ssets
46,689.19
27,936,465.11
There were no post balance sheet events which could have had
a material effect on the state of affairs of the Company as at 31
December 2011 or the profit for the year ended on that date,
which have not been adequately provided for or disclosed.
Comp li a nce wit h t h e Code of
Corpor ate G overn a nce
Chams Plc continuously strives to comply with global standards
of corporate governance. The Company has separated the posts
of Managing Director and Chairman and the Chairman is not involved in the day-to-day running of the Company. This is geared
towards avoiding the concentration of too much power in a
single individual.
The Board as a whole is comprised of a number of sub-Committees amongst which are Audit, Finance and Corporate Governance Committees. The Board is also comprised of high profile non-executive members serving in various capacities at the
16
sub-Committees mentioned above and is involved in setting the
emoluments of the Managing Director and other Directors of
the Company. The non-executive directors are appointed for a
fixed period and have to be re-elected by the shareholders at an
AGM. The Company is committed to full disclosure and transparency in providing information to all stakeholders because of
its belief that this is the most important driving force in any good
governance process.
B oard Fin a nce a nd
Corporate Governa nce
Committee
The Committee acts on behalf of the Board on matters relating
to Financial Management. It reviews the Budget and Audited
Accounts and is responsible for providing useful advice to the
Company’s management team as and when required.
The members are as follows:
Name
Status
Chairman
Alh. Tunde Yusuf
Member
Member
Idowu Logile Esq.
Secretary
Olayinka Ikiebe
Member
Christiana Olaniyan
Member
Audit Committee
This is established in accordance with part C of the Code of
Corporate Governance. It comprises dedicated individuals with
proven integrity that have a thorough understanding of the
Company’s business affairs including the associated risks and
controls put in place to mitigate those risks. The Company Secretary is the secretary of the Committee and they meet regularly.
The members are as follows:
Mr. Onochie Emmanuel
Chairman
Alh. Tunde Yusuf
Member
Member
Mr. Femi Williams
Member
Mr. Moses Igbrude
Member
Mr. Doyin Owolabi
Member
B oa rd M eeting
The Board and its Committees met as follows:
Board/Committee Meeting
No of
meetings
Board of Directors
4
Chams Audit Committee
3
Board Finance and Corporate Governance
Committee
4
Attenda nce at B oa rd
meetings for t h e yea r ended
3 1 December 2 0 1 1
Directors
No of
Meetings
Attendance
Bishop A.D. Akinde
4
4
4
4
Alhaji Idi Farouk
4
2
Mr. Tunde Yusuf
4
4
Mr. Femi Williams
4
4
Engr. Akin Sawyer
4
4
Chief Bankole Moroti
4
4
Auditors
BDO Professional Services have indicated their willingness to
continue in office. In accordance with Section 357(2) of the
Companies and Allied Matters Act CAP C20 LFN, 2004, a resolution will be proposed at the Annual General Meeting to authorise the Directors to fix their remuneration.
Idowu Logile Esq.
17
The Board of Directors
Bishop Prof Adebayo
Dada Akinde
Chairman
Demola Aladekomo
Managing Director
Alhaji Tunde Yusuf
Director
18
Alhaji Idi Farouk
Director
Very Reverend Ayo Richards
Director
Olufemi Williams
Deputy Managing Director
Engr Akin Sawyerr
Director
19
Chams Management Staff
Olufemi Williams
Deputy Managing Director
Demola Aladekomo
Managing Director
Idowu Logile
Company Secretary
Funke Alomooluwa
GM, ChamsCity
20
Olayinka Ikiebe
GM, Management Services
Rajiv Sharma
GM, ChamsVarsity
Olushola Omotayo
GM, Public Sector
Olumayowa Olaniyan
Group Head, Internal
Audit and Risk
Management
Chams PLC Subsidiary Heads
Femi Aderibigbe
Managing Director,
ChamsConsortium Limited
Charles Uwagbale
Managing Director,
PayMaster
Goke Idris
Managing Director,
Card Centre Nigeria Limited
Gavin Young
Managing Director,
ChamsSwitch
21
Report of the Audit Committee
TO THE MEMBERS OF CHAMS
PLC
In accordance with the provision of section 359 (6) of the Companies and Allied Matters Act Cap C20 Laws of the Federation of Nigeria
2004, we confirm that we have reviewed the audit plan and scope, and the Management Letter on the audit of the accounts of the
Company and the responses to the said Letter.
In our opinion, the plan and scope of the audit for the year ended December 2011 were adequate. We have reviewd the Auditors’
findings and we are satisfied with the Management responses thereon.
We also confirm that the accounting and reporting policies of the Company are in accordance with legal requirements and ethical
practices.
Mr Emmanuel Onochie
Chairman Audit Committee
27th March, 2011
M embers of t h e Audit C ommittee
yy
Mr Emmanuel Onochie - Chairman
yy
Mr Tunde Yusuf - Member
yy
The Very Rev. Ayo Richards - Member
yy
Mr Moses Igbrude - Member
yy
Mr Doyin Owolabi - Member
22
Report of the Independent Auditors
TO THE MEMBERS OF CHAMS PLC
We have audited the accompanying financial statements of
Chams Plc (“the Company”) and its subsidiary Companies (together “the group”), which comprise the balance sheets as at 31
December 2011, the profit and loss accounts, the statement of
cash flows, the value added statement for the year then ended
and the statement of significant accounting policies, the notes
to the financial statements and the five year financial summary,
as set out on pages 24 to 44.
D irectors ’ R esponsibi l ity
for t h e F in a nci a l
S t a tements
the purpose of expressing an opinion on the effectiveness of the
entity’s internal controls. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as
evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our opinion.
E mp h a sis of m a tter
Without qualifying our opinion, we draw attention to note 4
to the financial statements concerning accumulated losses and
negative cash flows.
The directors are responsible for the preparation and fair presentation of these financial statements in accordance with the
Statements of Accounting Standards issued by the Financial
Reporting Council of Nigeria and with the requirements of the
Companies and Allied Matters Act, CAP C20 LFN, 2004. This
responsibility includes: designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of the financial statements that are free from material
misstatement whether due to fraud or error, selecting and applying appropriate accounting policies, and making accounting
estimates that are reasonable in the circumstances.
O pinion
Auditors ’ responsibi l ity
The Companies and Allied Matters Act, CAP C20 LFN, 2004 requires that in carrying out our audit we consider and report to
you on the following matters. We confirm that:
Our responsibility is to express an independent opinion on
consolidated financial statements based on our audit. We conducted our audit in accordance with International Standards on
Auditing. Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance as to whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain evidence
about the amounts and disclosures in the financial statements.
The procedures selected depend on the auditors’ judgement,
including the assessment of the risks of material misstatement
of the financial statements, whether due to fraud or error. In
making those risk assessments, the auditor considers internal
controls relevant to the entity’s preparation and fair presentation
of the consolidated financial statements in order to design audit
procedures that are appropriate in the circumstances, but not for
In our opinion, these financial statements give a true and fair view
of the state of affairs of Chams Plc and its subsidiary Companies
financial position as at 31 December 2011 and of its financial
performance and its cash flows for the year then ended, in accordance with Statements of Accounting Standards issued by the
Financial Reporting Council of Nigeria and the requirements of the
Companies and Allied Matters Act, CAP C20 LFN, 2004.
R eport on ot h er l eg a l
requirements
i.
we have obtained all the information and explanations
which to the best of our knowledge and belief were necessary for the purpose of our audit
ii. in our opinion, proper books of account have been kept by
Chams Plc and its subsidiary companies and
iii. the entity’s balance sheet and profit and loss account are in
agreement with the books of account.
Chartered Accountants
Lagos, Nigeria
30 March 2012
23
Statement Of Significant Accounting
Policies
F or T h e Y e a r E nded 3 1 D ecember 2 0 1 1
The following are the significant accounting policies adopted by
the Company and its subsidiaries in the preparation of their financial statements:
1 . B a sis of Accounting
The consolidated financial statements have been prepared under the historical cost basis as modified by the inclusion of motor vehicles, furniture, fittings, building and equipment at professional valuation.
% per annum
Land
Buildings
Plant and machinery
Motor vehicles
Furniture and fittings
Equipment
IT Software
2
15
25
25
25
20
2 . B a sis of C onso l id a tion
The consolidated financial statements include the financial statements of Chams Plc and its subsidiaries: Card Centre Nigeria Limited, ChamsSwitch Limited and Chams Access Limited, all made
up to 31 December 2011. The group has a non-controlling
investment in Paymaster Limited, which is accounted for as an
associate. Chams Consortium Ltd is not consolidated because
it would have no material effect on the consolidated financial
statements as it is still in its pre-operation stage.
3 . T urnover
Turnover comprises the value of sales invoiced to third parties.
Contract revenue is recognised in phases throughout the life of
the project while related costs are matched against the phases.
Additional cost incurred for a phase not recognised as revenue is
treated as work in progress.
4 . F i x ed a ssets
Fixed assets are stated at cost or valuation less accumulated depreciation. The cost of assets includes purchase cost, installation
cost and other cost incurred to bring the assets to its present
location and condition.
5 . D epreci a tion of fi x ed
a ssets
Fixed assets are depreciated on a straight line basis at the following annual rates which are expected to write off the cost or
valuation of the assets over their anticipated useful lives:
24
6 . I nvestments
Long term investments: These are investments held for a period
exceeding one year. These include:
yy
investment in subsidiaries and unquoted companies.
yy
Long term investments are accounted for at cost less provision for impairment in value.
yy
Investments in associates: This class of investment is treated
using equity method in accordance with International Accounting Standards, IAS 28, on Accounting for Investments
in Associates.
yy
Investment income is accounted for on an accrual basis.
yy
Investment projects: These represent the development
costs of business lines which are amortised over a period
not exceeding 5 years.
7 . S tocks
These comprise saleable goods held and services rendered by
the Company at the balance sheet date.
These are valued at the lower of cost and net realisable value.
Costs include purchase cost, conversion-cost (materials, labour
and overhead) and other costs incurred in bringing the stock to
their present location and condition. Stocks are valued using the
First-in-first-out(FIFO) method.
The amount of any write off of stock to net realisable value and
all losses of stock are recognised as an expense in the period the
write down or loss occurs.
8 . D ebtors
Debtors are stated after deduction of specific provision for
any debt considered to be doubtful of recovery. Debts that are
known to be bad are written off and specific provision is made
for debts that are considered doubtful of recovery.
9 . T a x a tion
Income tax and education tax are provided by applying the current statutory rate on the taxable profit and adjusted profit respectively
1 0 . D eferred t a x a tion
Deferred tax, which is principally from timing difference in the
recognition of items for accounting and tax purposes, is calculated using the liability method. This represents taxation at the current rate of corporate income tax on the difference between the
net book value of qualifying fixed assets and their corresponding
tax written down values. This is in accordance with Statement of
Accounting Standards, SAS 19, on Accounting for Taxes.
1 1 . F oreign C urrencies
Transaction in foreign currencies are recorded in Naira at the
rates of exchange ruling at the time they arise. Foreign currency
balances are converted to Naira at the applicable rates at the
balance sheet date.
All differences arising therefrom are dealt with in the profit and
loss account.
1 2 . P rovisions
Provisions are recognised when the Company has a present obligation whether legal or constructive, as a result of a past event
for which it is probable that an outflow of resources embodying
economic benefits will be required to settle the obligation and a
reliable estimate can be made of the amount of the obligation
in accordance with the Statement of Accounting Standard, SAS
23, on Accounting for Provisions.
1 3 . S egment R eporting
The Company has three major business segments: Identity Management & Solutions, Payments, Collections & Transactional System and Digital Platform & ICT Training. Segment revenue and
cost represent operating revenue and expenses respectively that
are directly attributable to each business segment.
1 4 . R ent a l I ncome
Rental income represents income earned on the portion of the
Company owned building(s). The income is recognised on an
accrual basis.
1 5 . B orrowing costs
Borrowing costs associated with loans utilized in executing/acquisition of qualifying capital work in progress are capitalized
in accordance with the provisions of International Accounting
Standard No. 23. They include interest charges, establishment
fees and other incidental fees directly related to the creation and
arrangement of the facilities.
1 6 . R etirement benefits
The Company operates a defined contribution pension scheme
for members of staff which is independent of its finances and is
managed by Pension Fund Administrators. The scheme, which
is funded by contributions from employees and the Company
at 7.5% each of employees’ relevant emoluments is consistent
with the provisions of the Pension Reform Act, 2004. In addition, full provision is made in the financial statements for liabilities at the balance sheet date in respect of employees’ terminal
gratuities based on current relevant emoluments in line with SAS
8. The associated costs are charged to the profit and loss account for the year.
1 7 . C a s h a nd c a s h
equiv a l ents
For the purpose of the statement of cash flows, cash and cash
equivalents include cash in hand, cash balances with banks, net
of overdrafts, all of which are available for use by the company
unless otherwise stated.
1 8 . I nt a ngib l e Assets
Expenditure on research activities is recognised as an expense in
the period in which it is incurred. An internally generated intangible asset arising from development expenditure is recognised
only if it is anticipated that the development cost incurred on a
clearly -defined project will be recovered through future commercial activities. Capitalised development costs are stated at
cost less amortisation and impairment losses. Amortisation of
development cost is charged to profit and loss on a straight-line
basis over the estimated useful life of the underlying products
of 10 years.
25
At A Glance
PROFIT AND LOSS ACCOUNTS
GROUP
Turnover
Gross profit
Operating loss
Loss on ordinary activities before
taxation
Provision for taxation
Loss after taxation and extraordinary item
COMPANY
2011
N’000
2010
N’000
2011
N’000
2010
N’000
1,777,737
1,484,915
1,309,435
791,756
686,786
520,233
525,020
293,446
(972,162)
(1,525,942)
(379,252)
(932,949)
(1,198,400)
(1,801,323)
(596,618)
(1,205,986)
(38,582)
424,710
(36,054)
438,992
(1,236,982)
(1,791,898)
(632,672)
(1,147,700)
BALANCE SHEET FOR YEAR ENDED 31 DECEMBER 2011
GROUP
COMPANY
2011
N’000
2010
N’000
2011
N’000
2010
N’000
2,998,652
3,855,407
1,869,315
2,345,090
658,282
1,092,275
3,149,631
3,038,595
Net worth
4,011,215
5,151,734
6,831,722
7,381,689
Share capital
2,348,030
2,348,030
2,348,030
2,348,030
Fixed Assets
Net current assets
26
Consolidated Profit And Loss
Account
GROUP
Turnover
COMPANY
2011
2010
2011
2010
Notes
N’000
N’000
N’000
N’000
5
1,777,737
1,484,915
1,309,435
791,756
(1,090,951)
(964,682)
(784,415)
(498,310)
Cost of sales
Gross profit
686,786
520,233
525,020
293,446
478,234
259,151
392,983
276,810
(2,137,182)
(2,305,326)
(1,297,255)
(1,503,205)
(972,162)
(1,525,942)
(379,252)
(932,949)
2
207
2
2
(226,240)
(275,588)
(217,368)
(273,039)
9
(1,198,400)
(1,801,323)
(596,618)
(1,205,986)
Exceptional item
10
-
(5,616)
-
(380,706)
Taxation
12
(38,582)
424,710
(36,054)
438,992
(1,236,982)
(1,382,229)
(632,672)
(1,147,700)
-
(409,669)
-
-
(1,236,982)
(1,791,898)
(632,672)
(1,147,700)
(1,101,562)
(1,609,820)
(632,672)
(1,147,700)
(135,420)
(182,078)
-
-
(26)
(29)
(13)
(24)
Other operating income
8
Administrative expenses
Operating loss
Interest receivable and similar income
Interest payable and similar charges
Loss on ordinary activities before taxation
Loss after taxation before extraordinary
item
Extraordinary item
11
Loss after taxation and extraordinary item
transferred to revenue reserve
Attributable to:
Owners of the company
32
Non-controlling interests
Loss per share (Kobo) - Basic
37
The accounting policies on pages 24 to 25 and the explanatory notes on pages 30 to 42 form part of these financial statements.
Auditors’ Report on page 23.
27
Consolidated Balance Sheet
As At 3 1 D ecember 2 0 1 1
GROUP
COMPANY
2011
N’000
2010
N’000
2011
N’000
2010
N’000
13
2,998,652
3,855,407
1,869,315
2,345,090
14
160,231
-
115,231
-
Long term investments
15 (c)
126,709
126,709
1,630,204
1,894,907
Investment projects
18
93,157
103,160
93,157
103,160
3,378,749
4,085,276
3,707,907
4,343,157
Non current assets
Notes
Property, plant and equipment
Intangible assets
Current assets
Stocks
20
1,079,779
1,309,947
177,580
271,115
Trade debtors
21 (a)
1,515,716
1,539,644
1,111,686
1,102,518
1,440,280
1,308,928
2,540,384
2,592,583
230,769
223,058
1,847,060
1,791,337
Prepayments and other debtors
22 (b)
Due from related companies
23
Cash and bank balances
35
58,075
25,678
55,910
7,173
4,324,619
4,407,255
5,732,620
5,764,726
933,739
1,329,471
896,042
1,268,845
837,855
434,936
459,023
560,197
C urrent liabilities
Bank overdrafts
35
Trade creditors
Accruals and other creditors
25 (a)
1,500,854
1,121,537
858,576
574,211
Deposit for shares
29
-
10,030
-
9,030
Due to related companies
24
755
12,319
-
-
Short term loan
43
-
50,000
-
-
Taxation
12 (a)
Net current assets
Total assets less current liabilities
393,134
356,687
369,348
313,848
3,666,337
3,314,980
2,582,989
2,726,131
658,282
1,092,275
3,149,631
3,038,595
4,037,031
5,177,551
6,857,538
7,381,752
Non current liability
Deferred taxation
27
(25,816)
(25,817)
(25,816)
(63)
4,011,215
5,151,734
6,831,722
7,381,689
2,348,030
2,348,030
2,348,030
2,348,030
Capital and reserve
Share capital
28
Share premium
30
5,458,750
5,458,750
5,458,750
5,458,750
Fixed assets revaluation reserve
31
1,222,297
1,878,283
1,222,296
1,063,702
Capital reserve
19
(329,252)
(253,090)
-
-
-
-
(52,823)
-
(5,017,368)
(4,548,443)
(2,144,531)
(1,488,793)
3,682,457
4,883,530
6,831,722
7,381,689
328,758
268,204
-
-
4,011,215
5,151,734
6,831,722
7,381,689
Goodwill
Revenue reserve
32
Equity attributable to owners of the Company
33
Total equity
The financial statements on pages 24 to 44 were approved by the Board of Directors on 27th March 2012 and signed on its behalf by:
____________________________ )
) Directors
____________________________ )
Auditors’ Report on page 23
28
Consolidated Statement
of Cash Flows
Notes
GROUP
2011
N’000
COMPANY
2011
N’000
2010
N’000
2010
N’000
Cash flows from operating activities
1,838,834
893,062
1,348,819
1,083,727
(1,608,400)
(1,456,789)
(975,182)
(1,437,466)
(82,060)
(21,226)
(82,060)
(29,425)
148,374
(584,953)
291,577
(383,164)
12 (a)
(2,135)
(17,269)
-
(10,214)
34
146,239
(602,222)
291,577
(393,378)
711,006
146,341
711,006
1,300
Cash received from customers
Cash paid to suppliers and employees
Value added tax (net)
Income tax paid
Net cash provided by operating activities
Cash flows from investing activities
Proceeds from sale of fixed assets
(26,597)
(167,018)
(239,317)
(94,475)
(108,845)
-
(115,231)
-
(17,466)
-
(17,466)
-
2
207
2
2
-
125,000
-
125,000
558,100
104,530
338,994
31,827
-
50,000
-
-
(50,000)
-
-
-
Interest paid
(226,210)
(275,588)
(209,031)
(273,039)
Net cash provided by financing activities
(276,210)
(225,588)
(209,031)
(273,039)
Net increase/(decrease) in cash and cash
equivalents
428,129
(723,280)
421,540
(634,590)
(1,303,793)
(580,513)
(1,261,672)
(627,082)
(875,664)
(1,303,793)
(840,132)
(1,261,672)
Purchase of fixed assets
13
Purchase of intangible assets
Purchase of investment
Interest received
Cash received from sale of investments
17
Net cash provided by investing activities
Cash flows from financing activities
Long term loan
43
Term loan repayment
Cash and cash equivalents at the beginning
of the year
Cash and cash equivalents at the end of the
year
35
Auditors’ Report on page 23
29
1 The Company
2 Legal Form
The Company was incorporated in Nigeria as a private limited liability company on 10 September 1985
and commenced operations on 10 October 1985. It became a public limited company on 4 September
2008 and was listed on the floor of the Nigerian Stock Exchange on 8 September 2008.
3 Principal Activities
The Company and its subsidiaries offer complete end to end solution to small and large projects in the
areas of identity management, payments, collection and transactional systems, as well as providing
digital platform and ICT trainings.
4 Going concern considerations
The Company and its subsidiaries have an accumulated loss of N5.02 billion as at 31 December 2011
(2010: N4.55 billion), and negative cash flows of N0.9 billion for the year then ended (2010: N1.3 billion). The financial statements have, however, been prepared on a going concern basis as subsequent
to the balance sheet date, the Company and its subsidiaries have won contracts that are expected to
generate positive cash flows and profitability.
5 Turnover
GROUP
COMPANY
2011
N’000
2010
N’000
2011
N’000
2010
N’000
Identity Management & Solutions
700,316
28,053
700,316
237,667
Payments, Collections & Transactional
System
484,257
1,056,195
15,955
21,492
Digital Platform & ICT Training
593,164
400,667
593,164
532,597
1,777,737
1,484,915
1,309,435
791,756
700,316
28,053
700,316
237,667
Cost of sales
(520,675)
(19,661)
(520,675)
(165,994)
Gross profit
179,641
8,392
179,641
71,673
484,257
1,056,195
15,955
21,492
(327,227)
(686,736)
(20,691)
(14,786)
157,030
369,459
(4,736)
6,706
6(a) Segment reporting
The Company has three main business
segments:
- Identity Management & Solutions
- Payments, Collections & Transactional
System
- Digital Platform & ICT Training
Revenue and cost reported are directly
related to the segment.
(b) Identity Management & Solutions
Revenue
(c) Payments, Collections & Transactional System
Revenue
Cost of sales
Gross profit / (loss)
30
GROUP
(d)
2010
N’000
2011
N’000
2010
N’000
593,164
400,667
593,164
532,597
Cost of sales
(231,553)
(258,285)
(317,530)
(317,530)
Gross profit
361,611
142,382
275,634
215,067
Payments,
Collections &
Transactional Digital Platform &
System
ICT Training
Total
Digital Platform & ICT
training
Revenue
Identity Management & Solutions
7
COMPANY
2011
N’000
Segment balance sheet
N’000
N’000
N’000
N’000
2,099,056
449,798
449,798
2,998,652
100,000
26,709
-
126,709
Intangible assets
128,185
16,023
16,023
160,231
Group
Fixed assets (Net book value)
Investment projects
17,466
67,482
8,209
93,157
(18,071)
(3,872)
(3,872)
(25,815)
2,133,904
1,095,357
1,095,357
4,324,618
(1,750,355)
(957,991)
(957,991)
(3,666,337)
2,710,185
693,506
607,524
4,011,215
Fixed assets (Net book value)
990,737
37,386
841,192
1,869,315
864,008
32,604
733,592
1,630,204
49,373
1,863
41,921
93,157
(13,683)
(516)
(11,617)
(25,816)
3,038,289
114,652
2,579,679
5,732,620
Current liabilities
(1,381,215)
(51,139)
(1,150,635)
(2,582,989)
Intangible assets
61,072
2,305
51,854
115,231
3,608,581
137,155
3,085,986
6,831,722
Deferred taxation
Current assets
Current liabilities
Net assets
Company
Investment projects
Deferred taxation
Current assets
Net assets
GROUP
8
COMPANY
2011
2010
2011
2010
N’000
N’000
N’000
N’000
Fee income
85,251
24,945
-
21,492
Rental income
47,652
8,446
47,652
29,558
2,966
-
2,966
-
-
225,000
-
225,000
342,365
760
342,365
760
478,234
259,151
392,983
276,810
Other operating income
Miscellaneous income
Profit from disposal of investments
Profit from disposal of assets
31
GROUP
2011
N’000
COMPANY
2010
N’000
2011
N’000
2010
N’000
9 Loss on ordinary activities before taxation and extraordinary item
This is stated after charging/(crediting):
Directors’ emoluments
7,799
24,236
-
8,592
Auditors’ remuneration
15,000
21,020
7,000
15,000
487,004
695,882
340,750
334,717
-
159
-
159
(342,365)
(760)
(342,365)
(760)
-
5,616
-
380,706
This represents profit from disposal of DataCentre by
Chams Plc to Chams Access Limited.
-
-
-
-
This represents amortisation of the pre-operational cost
of Chams Switch Limited.
-
409,669
-
-
386,582
59,343
36,054
36,762
Depreciation
Exchange loss
Profit on disposal of assets
10 Exceptional item
This represents provision for diminution in value of
investments (Note 16)
11 Extraordinary item
12(a) Taxation
Profit and loss account
Income tax
Education tax
-
-
-
-
Capital gains tax
-
63
-
63
Deferred tax (Note 27)
-
(484,116)
-
(475,817)
386,582
(424,710)
36,054
(438,992)
356,687
314,613
313,848
287,300
-
-
19,446
-
38,582
(424,710)
36,054
(438,992)
Per profit and loss account
Balance sheet
Balance as at 1 January
Addition from Supercard liability taken over
Charge/(Writeback) for the year
Deferred tax (Note 27)
Payment during the year
Per balance sheet
-
484,053
-
475,754
395,269
373,956
369,348
324,062
(2,135)
(17,269)
-
(10,214)
393,134
356,687
369,348
313,848
(b) The charge for taxation in these financial statements is based on the provisions of the Companies Income Tax Act, CAP
C21, LFN 2004 (as amended). The charge for education tax is based on the provisions of the Education Tax Act, CAP
E4, LFN 2004.
32
13
(a)
Property, plant and equipment
Group
Land
Cost/valuation
At 1 January
Additions
Reclassification
Assets written off
Disposals
Transfer to intangible assets
At 31 December
Depreciation
At 1 January
Charge for the year
Asset written off
On adjustment
Impairment losses
On disposal
Transfer to intangible assets
At 31 December
Net book value
At 31 December 2011
At 31 December 2010
N’000
Buildings Plant and
machinery
N’000
N’000
402,361 1,643,205 1,116,510
11,400
1,407
(6,300)
- (386,292)
(4,900)
407,461 1,258,320 1,111,610
-
Motor
vehicles
Equipment
IT/Software
N’000
Furniture
and fittings
N’000
N’000
N’000
Total
N’000
200,846 1,180,635
508,113
12,334
1,448
(11,100)
(690)
- (120,640)
189,746 1,192,279
388,921
506,675
1,415
(1,407)
506,683
5,558,345
26,597
(18,090)
(391,192)
(120,640)
5,055,020
116,758
36,974
(18,250)
135,482
450,666
20,035
24,984
(4,900)
490,785
113,811
45,355
(6,941)
152,225
611,416
230,578
(517)
841,477
227,910
81,042
(83,813)
(44,137)
181,002
182,377 1,702,938
73,020
487,004
(7,458)
(83,813)
24,984
(23,150)
(44,137)
255,397 2,056,368
407,461 1,122,838
402,361 1,526,447
620,825
665,844
37,521
87,035
350,802
569,219
207,919
280,203
251,286 2,998,652
324,298 3,855,407
Leasehold land with a book value of N33.784 million was valued at N210 million by Messrs Jide Taiwo & Co (Estate Surveyors
& Valuers), independent valuers not connected with the Company, on the basis of open market value on 16 June 2009. Also
Datacenter with book value N244 million was valued at N900 million by Messrs Jide Taiwo & Co (Estate Surveyors & Valuers)
on 31 December 2009.
33
(b)
Company
Cost/valuation
Land
N’000
Plant and
Buildings machinery
N’000
N’000
Motor
vehicles Equipment
N’000
N’000
IT/Software
N’000
Furniture
and fittings
N’000
240,888 3,187,464
Total
N’000
At 1 January
135,924 1,643,206
89,337
113,368
917,343
47,398
Additions/transfer
221,400
-
-
3,430
12,282
681
1,524
239,317
-
1,407
-
-
-
-
(1,407)
-
(6,300)
-
-
-
-
-
-
(6,300)
-
(391,192)
Reclassification
Adjustment
(386,292)
(4,900)
-
-
-
351,024 1,258,321
84,437
116,798
929,625
48,079
Disposals
At 31 December
241,005 3,029,289
Depreciation
-
116,758
32,598
70,125
502,723
789
119,381
842,374
Charge for the year
-
36,974
12,373
26,664
198,085
9,480
57,174
340,750
On reclassification
-
-
-
-
-
-
-
-
On disposal
-
(18,250)
(4,900)
-
-
-
-
(23,150)
At 31 December
-
135,482
40,071
96,789
700,808
10,269
176,555 1,159,974
At 31 December 2011
351,024 1,122,839
44,366
20,009
228,817
37,810
64,450 1,869,315
At 31 December 2010
135,924 1,526,448
56,739
43,243
414,620
46,609
121,507 2,345,090
At 1 January
Net book value
The Company’s building located at No. 8 Louis Solomon Close was revalued and reported on 10 December 2007 by Messrs Jide
Taiwo & Co (Estate Surveyors and Valuers), independent valuers not connected with the Company, on the basis of open market
value. This was adjusted in the financial statements.
14 Intangible assets
Group Company
Cost/valuation
At 1 January
N’000
N’000
-
-
Additions
150,000
-
Transfers of intangible assests
169,485
169,485
At 31 December
319,485
169,485
-
-
Charge for the year
25,118
10,118
Transfer of amortisation Charge
44,136
44,136
Prior year adjustment
90,000
-
159,254
54,254
At 31 December 2011
160,231
115,231
At 31 December 2010
-
-
Amortisation
At 1 January
At 31 December
Net book value
Intangible assets represent the value of NCC licence acquired from SmartCity by Card Center Nigeria Limited and Software Development
Cost acquired from Supercard Limited by Chams Plc recognised in the book during the year.
34
GROUP
Equity
holding
%
COMPANY
2011
N’000
2010
N’000
2011
N’000
2010
N’000
15 Long-term investments
(a) Investment in subsidiaries
99.07
-
-
1,189,112
1,189,112
Supercard Nigeria Limited
81.25
-
-
-
264,702
Chams Access Limited
68.37
-
-
810,600
810,600
Chams Mobile Limited
100.00
26,709
26,709
26,709
26,709
Chams Switch Limited
84.34
-
-
598,951
598,952
26,709
26,709
2,625,372
2,890,075
Chams Mobile was not consolidated because it is still in its project form, and is not significant.
(b) Investment in associate
Paymaster Nigeria Limited
263,471
263,471
263,471
263,471
-
1,500
1,500
1,500
(c) Investment in unquoted entities
Unitec Nigeria Limited
Joint Komputer Kompany Limited
Total investment
-
100,000
100,000
100,000
100,000
100,000
101,500
101,500
101,500
390,180
391,680
2,990,343
3,255,046
Provision for diminution in value
- of Unitec Nigeria Limited
-
(1,500)
(1,500)
(1,500)
(263,471)
(263,471)
(1,358,639)
(1,358,639)
126,709
126,709
1,630,204
1,894,907
-
-
981,798
981,798
-
-
113,370
113,370
263,471
263,471
263,471
263,471
263,471
263,471
1,358,639
1,358,639
126,709
132,325
1,894,907
2,653,263
-
-
-
-
- of subsidiaries and associate (Note 15d)
(d) Provision for diminution in value of
subsidiaries and associate
16 Movement in investment
At 1 January
Additions during the year
Disposal during the year
-
-
-
(375,000)
Adjustments
-
-
-
(2,650)
Movement in provision for diminution
-
(5,616)
(264,703)
(380,706)
126,709
126,709
1,630,204
1,894,907
At 31 December
The Company bought over the shares of the non-controlling interest in Supercard Nigeria Limited to maintain a 100%
controlling interest. It also subsequently merged the operations of the Company by taking over its assets and liabilities.
The goodwill arising on acquisition has been included in these financial statements.
35
17 Disposal of investment
Amount realised from disposal
Cost of investment
Profit from sale of investment
GROUP
2011
2010
N’000
N’000
600,000
(475,000)
125,000
COMPANY
2011
2010
N’000
N’000
600,000
(475,000)
125,000
On 31 March 2010, the Board of Directors approved a sale of 750 miilion units (31.63%) of Chams Access Limited
ordinary shares of 50k each at 80k each to Computermart Nigeria Limited. As at the year end, N475 million (Note
22 b) of this consideration was unpaid.
GROUP
2011
N’000
18 Investment projects
Chams Varsity
Chams.Net
Chams Wallet
NIMC
2010
N’000
COMPANY
2011
N’000
2010
N’000
8,209
61,192
6,290
17,466
15,283
81,587
6,290
-
8,209
61,192
6,290
17,466
15,283
81,587
6,290
-
93,157
103,160
93,157
103,160
Investment projects represent expenses incurred on behalf of Chams Varsity, Chams.Net and Chams Wallet divisions, and will be converted to shares when these divisions become subsidiaries.
19 Capital reserve
Opening balance
Goodwill on consolidation
Closing balance
20 Stocks
Terminals and consumables
Work in progress
21(a) Trade debtors
Trade debtors
Provision for doubtful debts (Note 21(b))
(b) Provision for doubtful debts
At 1 January
Supercard debtors provision
Bad debt recovered
Provision for the year
At 31 December
36
GROUP
2011
2010
N’000
N’000
253,090
(349,859)
76,162
602,949
329,252
253,090
COMPANY
2011
N’000
-
2010
N’000
-
1,069,779
10,000
1,079,779
1,232,299
77,648
1,309,947
167,580
10,000
177,580
193,467
77,648
271,115
1,862,929
(347,213)
1,515,716
1,654,717
(115,073)
1,539,644
1,374,166
(262,480)
1,111,686
1,217,591
(115,073)
1,102,518
115,073
24,304
(2,484)
210,320
347,213
45,482
(14,825)
84,416
115,073
115,073
24,304
(2,484)
125,587
262,480
45,482
(14,825)
84,416
115,073
GROUP
2011
N’000
22(a) Prepayments and other debtors
Prepayments
Other debtors (Note 22(b))
Director’s current account
166,970
1,066,478
206,832
1,440,280
2010
N’000
399,968
803,049
105,911
1,308,928
COMPANY
2011
N’000
164,652
2,168,900
206,832
2,540,384
2010
N’000
358,788
2,127,884
105,911
2,592,583
(b) Other debtors
Term loan - Chams Access (Note 22(c))
Deposit for shares
Computermart Nig. Limited - sale of investment
Service charges
Calls in arrears
Withholding tax
Cash advance
Deposit for petrocard
PPM-Wiliams
Intermac Consulting
Staff debtors
Universal service provision fund
Deposit for assets
Input VAT
Due from related Company
Other debit balance
Miscellaneous
Provision for doubtful debts - staff debtors
Call in arrears written off
532,819
532,819
1,000,000
1,000,000
475,000
475,000
475,000
475,000
92,091
12,289
20,621
17,670
20,621
17,670
78,318
30,856
37,825
30,856
1,434
207
207
67
67
4,812
4,812
166,135
244,607
154,156
116,425
16,109
3,150
3,150
20,245
319,203
16,231
16,231
22,742
1,808
(57,175)
(57,175)
(57,175)
(57,175)
(20,621)
(20,621)
1,066,478
803,049
2,168,900
2,127,884
(c) Term loan represents loan given to Chams Access Limited at an interest-free rate effective from 31st December 2009.
GROUP
2011
N’000
23
24
Due from related companies
Supercard Nigeria Limited
Chams Switch Limited
Chams Mobile Limited
Chams Consortium Limited
Smart City Limited
Due to related companies
Smart City Limited
2010
N’000
COMPANY
2011
N’000
2010
N’000
230,769
230,769
216,768
6,068
222
223,058
230,769
1,428,747
2,967
130,892
25,166
23,152
367
5,000
1,847,060
216,768
1,390,082
88,375
93,918
6,068
(3,874)
1,791,337
755
755
6,819
5,500
12,319
-
-
37
GROUP
25(a)
COMPANY
2011
2010
2011
2010
N’000
N’000
N’000
N’000
-
3,168
-
3,168
Accruals and other creditors
Rent received in advance
VAT payable
Staff pension (Note 25(b))
Withholding tax
Accrued expenses
Directors’ current account
Sundry creditors
Due to other related Company
Other credit balances
Advances
Information Technology Development Levy
186,099
92,385
88,728
9,585
67,831
81,804
20,313
25,239
61,257
57,813
61,257
56,786
622,408
544,847
291,126
193,178
56,197
6,897
-
-
-
-
56,973
-
546
-
-
-
450,793
334,599
284,455
286,255
55,553
-
55,554
-
170
24
170
-
1,500,854
1,121,537
858,576
574,211
60,630
40,538
25,239
11,827
Staff pension
(b)
At 1 January
Transfer from Supercard
Deductions in the year
Remittance
At 31 December
8,896
-
8,896
-
30,528
50,303
18,401
22,719
(32,223)
(9,037)
(32,223)
(9,307)
67,831
81,804
20,313
25,239
GROUP
COMPANY
2011
2010
2011
2010
N’000
N’000
N’000
N’000
-
-
-
-
26 Dividend payable
Balance at 1 January
Dividend declared (Note 32)
-
-
-
-
-
-
-
-
Payment during the year
-
-
-
-
Balance at 31 December
-
-
-
-
192,818
(317,052)
192,818
(282,999)
(8,131)
-
(8,131)
-
27 Deferred taxation
Deferred tax from Supercard taken over
Writeback / (charge) for the year (Note 12)
-
484,116
-
475,817
184,687
167,064
184,687
192,818
(192,881)
(192,818)
(192,881)
(192,818)
Capital gains tax
Charge for the year (Note 15)
Per balance sheet
(17,622)
(63)
(17,622)
(63)
(210,503)
(192,881)
(210,503)
(192,881)
(25,816)
(25,817)
(25,816)
(63)
The group tax computation resulted in a deferred tax asset of N 757.7 million (2010: N495.4 million).This has
not been adjusted for in these consolidated financial statements as the asset may not be recoverable in the
foreseeable future.
38
GROUP
COMPANY
2011
2010
2011
2010
N’000
N’000
N’000
N’000
5,000,000
5,000,000
5,000,000
5,000,000
4,696,060,000 ordinary shares of 50 kobo each
2,348,030
2,348,030
2,348,030
2,348,030
2,348,030
2,348,030
2,348,030
2,348,030
2,348,030
2,348,030
2,348,030
2,348,030
-
10,030
-
9,030
5,458,750
5,458,750
5,458,750
5,458,750
Share issue expenses
-
-
-
-
28 SHARE CAPITAL
Authorised:
10 billion ordinary shares of 50 kobo each
Issued and fully paid:
29 Deposit for shares
30 Share premium
Adjustment from share capital
-
-
-
-
5,458,750
5,458,750
5,458,750
5,458,750
1,878,283
1,878,283
1,063,702
1,063,702
Prior year adjustment
31 Fixed assets revaluation reserve
(655,986)
-
-
-
Addition
-
-
-
-
Write back
-
-
158,594
-
Supercard asset revaluation reserve acquired
-
-
-
-
1,222,297
1,878,283
1,222,296
1,063,702
(4,548,443)
(2,716,025)
(1,488,793)
(118,495)
632,637
-
-
-
-
(222,598)
-
(222,598)
(3,915,806)
(2,938,623)
(1,488,793)
(341,093)
Post acquisition reserve of Supercard
-
-
(23,066)
-
Dividend declared
-
-
-
-
Loss for the year
(1,101,562)
(1,609,820)
(632,372)
(1,147,700)
(5,017,368)
(4,548,443)
(2,144,531)
(1,488,793)
32 Revenue reserve
Prior year adjustments
Cost of sales understated
Opening balance as reinstated
39
GROUP
33
2011
2010
2011
2010
N’000
N’000
N’000
N’000
601,595
435,358
-
-
24,710
14,924
-
-
Revenue reserves
(297,547)
(182,078)
-
-
At 31 December
328,758
268,204
-
-
(632,678)
(1,147,700)
Share capital
Share premium
34
COMPANY
Reconciliation of net loss to net cash provided by operating activities
Loss after taxation
(1,236,982)
(1,791,898)
Adjustment to reconcile net loss to net cash provided/(consumed) by operating activities:
Profit on sale of investments
-
(225,000)
(342,365)
(225,000)
(342,365)
1,953
-
(760)
Interest payable
226,210
275,588
209,031
273,039
135,420
182,078
-
-
Depreciation
487,004
695,882
340,750
334,717
Amortisation
52,587
(Profit) / Loss on sale of fixed assets
Interest received
Provision for impairment losses
(2)
37,587
(207)
(2)
(2)
24,984
Adjustment in investment
-
-
-
2,650
Provision for diminution in value of investments
-
5,616
374,748
380,706
9,632
234,462
4,386
-
-
-
(264,702)
-
20,621
-
20,621
-
Decrease in investment projects
-
18,982
10,003
18,982
(Increase)/decrease in intangible
(108,845)
-
115,231
-
230,168
(333,990)
93,535
62,834
Assets written off
Acquisition of subsidiaries
Call in arrears written off
Changes in assets and liabilities:
Decrease in stocks
Decrease/(increase) in trade debtors
23,928
(250,244)
(9,168)
(196,690)
(Increase)/decrease in other debtors
(131,352)
1,194,840
52,199
391,140
(7,711)
(2,094)
(55,723)
(178,363)
Increase /(decrease) in trade creditors
Increase in amount due from related companies
402,919
236,678
(101,174)
306,533
Increase /(decrease) in other creditors and accruals
379,317
641,787
284,365
256,340
9,030
-
9,030
(475,754)
-
(484,053)
25,753
-
Decrease in deposit for shares
Decrease in deferred tax liability
(76,162)
(602,949)
-
-
Increase /(decrease) in tax payable
Goodwill/Capital reserve on consolidation
36,447
42,074
55,500
26,548
Increase /(decrease) in non-controlling interests
60,554
19,557
-
-
-
-
82,704
-
Net movement in subsidiary acquired
Prior year adjustments
(19,539)
(222,598)
-
(222,598)
Increase in amount due to related companies
(11,564)
(238,686)
-
-
1,383,221
1,189,676
924,249
754,322
146,239
(602,222)
291,577
(393,378)
Total adjustments
Net cash provided by operating activities
40
GROUP
2011
N’000
35
Cash and cash equivalents
Bank and cash balances
Bank overdrafts
58,075
(933,739)
(875,664)
36(a) Information regarding Directors and Employees
(b)
(d)
2010
N’000
25,678
(1,329,471)
(1,303,793)
55,910
(896,042)
(840,132)
Analysis of the Company’s average weekly number of employees were:
Management staff
26
30
Senior staff
100
130
Junior staff
54
79
180
239
2010
N’000
7,173
(1,268,845)
(1,261,672)
15
64
14
93
15
72
16
103
N’000
N’000
N’000
N’000
482,662
30,528
513,190
Emoluments of Directors of the company were Fee:
Chairman
3,110
Other Directors
21,126
24,236
Fees (excluding pensions
contributions) include amounts paid to
The Chairman
1,460
The highest paid Director
1,460
636,332
50,303
686,635
255,819
18,401
274,220
359,125
22,719
381,844
3,110
21,126
24,236
1,350
7,242
8,592
1,350
7,242
8,592
1,460
1,460
1,350
1,350
1,350
1,350
Staff costs relating to the above were:
Wages and salaries
Pension contribution
(c)
COMPANY
2011
N’000
The table below shows the number of Directors and employees of the Group and Company whose emoluments during
the year (excluding pension contributions) were within the bands stated.
E moluments
N
Up to - 300,000
300,001 - 500,000
500,001 - 700,000
700,001 - 900,000
900,001 - 1,100,000
1,100,001 and above
E mployees
GROUP
2011
24
20
15
17
104
2010
1
31
29
19
24
135
COMPANY
2011
4
10
1
78
2010
4
9
6
6
78
41
37
(Losses)/ earnings per share
The calculation of (losses) / earnings per share is based on the (loss) / profit after taxation and the weighted average
number of ordinary shares issued and fully paid during the financial year.
38
Guarantees and other financial commitments
Capital commitments
There were no capital commitments authorised by the Directors as at 31 December, 2011 (2010 - Nil).
Contingent liabilities
The Directors are of the opinion that there were no contingent liabilities in respect of actions against the company, accordingly no provision has been made in these consolidated financial statements as at 31 December 2011 (2010 - Nil).
39
Major suppliers
The Company’s major supplier is Data Card Corporation.
40
Related party transactions
Related party transactions arose from transfer of fixed assets, rents due and payments to suppliers. As at 31 December
2011 balances due from and to related Companies were as stated in Notes 23 and 24 to the consolidated financial
statements respectively.
41
Comparative figures
Certain comparative figures have been restated in order to provide more meaningful comparison.
42
Subsequent events review
In the opinion of the Directors, there were no significant post balance sheet events that could have material effect on
the state of affairs of the Company and its subsidiaries as at 31 December 2011 and on the loss for the year ended on
that date, which have not been adequately provided for or disclosed in these consolidated financial statements.
43
Short term loan
This is a 90 day contract finance facility of N50 million obtained from WEMA Bank Plc for the execution of a unique
biometrics identity management system for National Open University of Nigeria. It carries an interest rate of 19% per
annum effective from the drawdown date of 12 November 2010.
42
Consolidated Statement of Value
Added
GROUP
2011
N’000
Sales of products and services
Other income
COMPANY
2010
%
N’000
2011
%
N’000
2010
%
N’000
1,777,737
1,484,915
1,309,435
791,756
478,234
259,151
392,982
276,810
2,255,971
1,744,066
1,702,417
1,068,566
(512,426)
(393,580)
(299,262)
(347,246)
(1,715,511)
(1,908,989)
(1,167,435)
(1,318,412)
%
Bought in materials and services:- Imported
- Local
28,034
100
(558,503)
100
235,720
100
(597,092)
100
513,190
1,831
686,635
123
274,220
116
381,844
64
38,582
138
59,343
11
36,054
15
36,762
6
-
-
63
-
-
-
63
-
226,240
807
275,588
49
217,368
92
273,039
46
- Depreciation
487,004
1,736
695,882
125
340,750
145
334,717
56
- Deferred tax
-
-
(484,116)
(87)
-
-
(475,817)
(80)
(1,236,982)
(4,412)
(1,791,898)
(321)
(632,672)
(268)
(1,147,700)
(192)
28,034
100
(558,503)
(100)
235,720
100
(597,092)
(100)
Value added /(eroded)
Applied as follows:
To pay employees:
Employees’ wages, salaries and other
benefits
To pay Government:
Income tax
Capital gains tax
To pay providers of capital:
Interest payable and similar charges
To provide for replacement of assets
and growth:
- Profit and loss account
Value added represents the additional wealth which the Company and its subsidiaries have been able to create by their own and their
employees’ efforts. This statement shows the allocation of that wealth among all stakeholders and amount retained for the future creation of more wealth.
43
Consolidated Financial Summary
3 1 D ecember
2011
N’000
ASSETS/(LIABILITIES)
Fixed assets
Intangible assets
Investment projects
Goodwill
Net current assets
Provision for liabilities and charges
CAPITAL AND RESERVES
Share capital
Share premium
Fixed assets revaluation reserve
Revenue reserve
Capital reserve
Goodwill
Total equity
TURNOVER AND PROFIT
Turnover
(Loss)/profit before taxation
and extraordinary item
Taxation
Extraordinary item
(Loss)/profit after taxation
and extraordinary item
Attributable to:
Owners of the Company
Non controlling interest
PER SHARE DATA (Kobo):
(Losses) / earnings per share
Basic
Earnings per share
Diluted
Net assets per share
2,998,652
160,231
126,709
93,157
658,282
(25,816)
4,011,215
GROUP
2010
2009
N’000
N’000
3,855,407
126,709
103,160
1,092,275
(25,817)
5,151,734
4,767,027
132,325
122,142
2,680,919
(509,870)
7,192,543
2,348,030 2,348,030 2,348,030
5,458,750 5,458,750 5,458,750
1,222,297 1,878,283 1,878,283
(5,017,368) (4,548,443) (2,716,025)
(329,252) (253,090)
349,859
328,758
268,204 (126,354)
4,011,215 5,151,734 7,192,543
1,777,737
1,484,915
2008
N’000
2011
N’000
2010
N’000
COMPANY
2009
N’000
2008
N’000
2007
N’000
3,725,250
1,566,959
587,950
3,743,855
(516,698)
9,107,316
1,869,315
115,231
1,630,204
93,157
3,139,601
(25,816)
6,821,692
2,345,090
1,894,907
103,160
3,038,595
(63)
7,381,689
2,585,872
2,653,263
122,142
3,866,527
(475,817)
8,751,987
3,176,574
3,130,174
4,083,893
(511,359)
9,879,282
1,850,363
568,509
12,419
(247,078)
2,184,213
2,348,530 2,348,030 2,348,030
5,462,603 5,458,750 5,458,750
1,063,702 1,222,296 1,063,702
191,768 (2,144,531) (1,488,793)
587,950
(52,823)
40,713
9,695,266 6,831,722 7,381,689
2,348,030
5,458,750
1,063,702
(118,495)
8,751,987
2,348,530
5,462,603
1,063,702
1,004,447
9,879,282
861,030
172,478
1,063,702
87,003
2,184,213
791,756
319,819
1,913,108
4,467,186
988,615
2,400,342
1,309,435
(1,198,400) (1,801,323) (2,474,699)
(38,582) (424,710)
140,540
- (409,669)
-
835,706
642,684
-
(596,618) (1,205,986)
36,054 (438,992)
-
(641,275)
119,427
745,990
783,025
627,397
847,859
1,046,818
247,502
-
(1,236,982) (1,791,898) (2,873,094)
193,022
(632,672) (1,147,700)
(992,645)
1,003,497
799,316
(1,101,562) (1,609,820) (2,591,029)
(135,420) (182,078) (282,065)
190,818
2,204
(632,672) (1,147,700)
-
(992,645)
-
1,003,497
-
799,316
-
(26)
(38)
(61)
4
(13)
(24)
(21)
27
46
85
110
153
206
146
157
186
21
265
46
127
(Loss)/earnings per share is based on (loss) / profit after taxation but before extraordinary item and the weighted average number of ordinary shares issued and
fully paid at the end of each financial year.
Net assets per share is calculated based on the net assets and the number of issued and fully paid ordinary shares at the end of each financial year.
44
Products and Services
C h a ms C ity
As a business unit, ChamsCity is positioned as a service provider.
It employs technology as an enabling platform for improved efficiency in business. With over 2000 computer systems and 3 centers in Lagos, Port-Harcourt and Abuja, ChamsCity has facilitated a
number of international IT conferences, professional examinations;
computer based testing, e-learning and training. Corporate organizations have also latched on its platform to enhance their recruitment and testing processes.
Following the merger and acquisition of Supercard Limited (a subsidiary of Chams Plc) with Chams PLC, ChamsCity acquired the capacity and resources for Identity management offerings and has
continued to manage clients and handle related projects.
Within the year, ChamsCity facilitated a number of computer based
testing and training for corporate multinationals and government
institutions. It also has handled biometric staff audit and verification for a number of states and government parastals. Some of
its major clients are Nigerian Airforce (NAF), Nigerian Customs Service, Osun State, Anambra State, NCC, Amnesty, Anambra State,
Bureau for Public Enterprises, Power Holding company of Nigeria,
National Identity Management Commission, Nigerian Computer
Society, etc.
C h a ms V a rsity
Set up as a strategic business unit within Chams PLC to deliver
quality ICT and industry specific training to corporate organisations,
government institutions and individuals.
ChamsVarsity is the ideal ICT training organization with the required
expertise to handle professional training with object-oriented delivery. It handles and delivers training solutions to both the corporate
citizenry and individuals in diverse IT career and executive courses.
ChamsVarsity also offers executive course packages like Preparation for Project Management (PMP), ITIL Foundation and Prince
2 training as well as the platform for writing such examinations.
Also, since training is a skills acquisition affair that is a penultimate
requirement for personal development and a solid career path,
ChamsVarsity has invested heavily in the provision of the right quality of trainers as well as infrastructure for the utmost conducive
learning.
In the period under review, ChamsVarsity expanded its frontiers
with the set up of on-campus training centers at the Lagos State
University and Obafemi Awolowo University (in progress).
To increase its offerings and enhance the quality of service delivery
to clients, ChamsVarsity is in process of concluding its partnership
deals with Blackboard/Eiffel Corp to facilitate e-learning.
In serving the public sector, ChamsVarsity successfully set up an elibrary centre for FRSC and also handles their requisite ICT training
to improve process and job efficiency.
N a ir a . com
Naira.com focuses on online infrastructure development and service provision for businesses or institutions that seek online presence and or seek to utilize ICT as an enabling tool for simplifying
its processes. Naira.com provides a safe and secure environment
for carrying out online payments using recognized local and international debit/credit cards.
2011 saw a number of activities for Naira.com from the set up
of the web portal and e-voting system for the Chartered Institute
of Personnel Management; also for the Nigerian Institute of Architects as well as Institute of Chartered Accountants of Nigeria
(ICAN). Also handled portal development for Nigeria Reinsurance;
IBA SEERIL Conference registration and payment; Young Lawyers’
Conference portal development
T ermin a l s a nd P rinters
The ripple effect of the CBN Cashlite policy has positively impacted
on the business of the Terminals and Printers unit. Banks today
have the need to promptly provide cards to their clients to enable
them carry out transactions out of the bank locations and even
online.
As exclusive distributors of DataCard printers, in Nigeria, the terminals and printers unit have sold, installed and are presently servicing a sizeable number of Datacard printers
The unit’s strategic focus is on ensuring a pervasive use of Datacard printers across financial, educational, health institutions in
Nigeria and its focused on the development of Marketing Channels - Webshop, Outlet Stores, Channel Partners, Service Centres
and Office Front Stores to achieve this objective.
One of the major highlights for the year was the Head of Service
contract award for Access Control through the NIMC. Also the
completion of the Valucard financial Instant Issuance solution was
another major high point in the year. Others clients include First
Bank of Nigeria Plc, Zenith Bank PLC, Epayplus, Mainstreet Bank
PLC, Integrated Healthcare, ASCON etc
45
Subsidiaries
creasing the internally generated revenue by 100% within a year.
C a rd C entre Limited
With the fast paced changing demands of customers and the economy, CardCentre recently upgraded their current production machines
to produce multi pins card in line with market demand and successfully
deployed two MX 6000 printers to be used for the personalization of
VISA chip cards. CardCentre in partnership with Unified Payment Systems Limited (Formerly ValuCard) has supplied financial cards. Other
corporate bodies subscribing to their services include Insurance Companies, Telecommunication companies and other corporate organisations.
Some of the major projects carried out in the year include ; Personalization of financial cards at ValuCard ,
issuance of IGR Cards for Anambra, supply of Ruim
Cards to Intercellular; supply of Smart ID Cards to the
Nigerian Customs.
C h a ms Access
Consequent upon the policy summersault by the Central Bank of Nigeria on ATM deployment by independent Automated Teller Machine
Consortium services, banks are now acquiring ATMs for themselves.
In the light of this ChamsAccess business extended
its frontiers to Ghana whilst prospecting local
banks and other financial institutions here in Nigeria. It has deployed ATMs to Energy Bank in
Ghana and is in partnership talks with a major Nigerian bank with a wide network across the country.
To further fortify their operational capacity, the company presently runs
an end to end test of their ATMs through the Nigeria Central Switch.
Chams Access has recently expanded services which were being rendered to NITDA National Information Technology Development Agency
in 2007 following recent update in the MOU to include the provision of
outsourced management for eighty five (85) Rural Information Technology Centres by the company.
C h a ms S witc h Limited
ChamsSwitch has over the years developed core competence in payment and collection processing systems as well as transaction switching
and processing. The switch offers flexible, safe and reliable switching
solutions for transactions and operates an ACI Base 24 eps - a switching solution which is the recommended best by International standards
and is currently used by international
Banks, VISA and Mastercard.
Some of the landmark achievements
are
yy
ChamsSwitch was the first Switch to successfully test and connect
to the Nigerian National Central Switch and was recently awarded
the right to deploy its revenue collection solution, PayCollect, to
consolidate and collect all revenue in Anambra State aimed at in-
46
yy
Towards ensuring the effectiveness and efficiency of their services,
ChamsSwitch engaged the services of Bankserv, the largest switch
in South Africa which has been in operation for over 30 years, to
refine its processes and procedures.
yy
The Switch till date has also developed diverse industry focused
solutions that render valuable services to private and public sector organizations. These solutions include Paycollect, Multipay and
Webpay which some sectors of the economy are presently subscribed to.
Its project milestones for 2011 include
yy
yy
yy
yy
yy
•
Abia State IGR and collections
Anambra State IGR
Nassarawa State PayCollect
Connectivity to 5 banks,
MultiPay live and in testing phase. Various Govt. & Corp. Customers in view
Schools focus – OAU, UNAAB etc
P a y M a ster
PayMaster; is a CBN licensed POS Terminal Solutions Provider (PTSP) deploying POS terminals and innovative solutions on POS terminals are
the main thrust of the company. PayMaster is equipped with requisite
manpower and skills for the deployment and provision of technical support for POS terminals deployed across the country. It is one of the
companies driving the cashlite Lagos agenda of the CBN.
In furtherance to the PTSP license issued
PayMaster limited, CBN also approved and
endorsed the Bitel terminal as one of the 4 brands of POS acceptable
for deployment for the Cashlite Nigeria project. To bridge any technical
gap, PayMaster is in Partnership with Bitel and IVERI for the development of additional value added offerings on the POS while also providing technical competence and support.
Also, the Bitel terminals were integrated with the Nigeria Interbank Settlement System (NIBSS) to facilitate seamless transaction on the POS.
C h a ms M obi l e Limited
ChamsMobile secured approval-in-principle from Central Bank to operate a mobile payment system in Nigeria. It has thus far completed its
pilot phase and gone through the different levels of audit by the apex
bank to obtain an operating license.
ChamsMobile offers a secure mobile payment solution to the vast array of the unbanked in the rural and suburban communities. Services
available include cash-in and Cash-out, cash transfer, balance inquiry
and mini account statement, phone credit top-up, utility payment etc.
ChamsMobile has commenced deployment of its mobile payment solution to closed communities and is extending its reach gradually.
List of Unclaimed Dividends
a s a t 3 1 D ecember 2 0 1 1
Account
No Name
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
39.
40.
41.
42.
43.
44.
45.
46.
47.
48.
49.
50.
51.
52.
53.
54.
55.
56.
57.
58.
59.
60.
61.
62.
63.
64.
65.
66.
67.
68.
69.
70.
71.
72.
720
6223
3459
4831
4286
6225
1217
7410
6882
6810
3307
3488
4830
1214
1854
1855
7880
6228
5874
6558
1860
722
1861
6557
6806
5022
4554
885
6797
1040
4835
3312
982
3681
8370
6192
1661
951
1865
1663
8023
4724
6496
3469
8372
4285
1893
8373
6497
6986
4816
5929
3497
3477
4767
4256
4768
7771
6698
4787
6668
3676
441
3675
1900
3672
4955
8148
3682
5706
4986
4998
A & B CAR CONCEPT NIG LTD
ABALI ISAIAH ORJI DR
ABARI JOHN
ABBA ALMUSTAPHA JAYE
ABBAS HABIBA
ABDU ADAMA PINADO
ABDUL MAJID WAKILU
ABDULKARIM JIDDA
ABDULKARIM MOSHOOD BIODUN
ABDULKARIM SANI
ABDULKARIM TUKUR
ABDULLAHI ABDULKADIR ALHAJI
ABDULLAHI ABU RIMI
ABDULLAHI AISHAT EBUN
ABDULLAHI BASHIR ANANGI
ABDULLAHI GUMEL JAMILA SANI
ABDULSALAM ZARIYAT OMOBOLA
ABDURRAHIM ABDUL
ABDUSSALAM NAJEEB MAHMOUD
ABE ADETOKUNBO OLUSEGUN
ABEJIDE EYITAYO BOSEDE
ABENGOWE NGOZI ANNABEL
ABERE SIJIBOMI
ABIDOLU OMOTAYO
ABIDOYE TAOFEEK OYEKUNLE
ABIMBOLA ONALAJA SAMUEL A
ABIMIKU JULIUS
ABINA OLAOLUWA
ABINLEKO ISMAIL ADEWALE
ABIODUN AFOLABI KAREEM
ABIODUN CELINA ABIKE
ABIODUN E. ADENIYI
ABIODUN HELEN TITILAYO
ABIODUN YACOOB A.
ABIOYE BILIKISU SHOLA
ABIOYE DORCAS OMODELE
ABOLAJI ABOLANLE KAFAYAT
ABOLARINWA KAYODE
ABOLO PAUL CHUKWUWETA
ABONYI EUPHEMIA OGECHUKWU
ABORE HAUWA UMAR
ABRAHAM OSAZELE
ABUBAKAR AISHA AMAIRA
ABUBAKAR AISHA IGE
ABUBAKAR ALI BALA
ABUBAKAR ALIYU
ABUBAKAR ALIYU
ABUBAKAR KABIRU
ABUBAKAR UDU FATIMA AMAL
ACHILIKE PIUS
ACHIMUGWU OJONUGWA VIVIAN
ADAJI ELIZABETH ADAJI
ADAMS NAZEEF UMAR
ADAMU ALIYU PAKI
ADAMU BINTA
ADAMU BITRUS
ADAMU IBRAHIM
ADAMU SULE SYLVESTER
ADAMU YAHAYA YUSUF
ADAMU YUSHAU
ADARAMAJA MOBOLAJI ABIODUN
ADEAGBO ADEBOWALE MUYIDEEN
ADEBAJO PEJU
ADEBAMBO ABAYOMI
ADEBAYO OLADIMEJI TAHIR
ADEBESIN ADEOLA RAHAMAN
ADEBISI MORUF ADETOLA
ADEBISI PAULINA ADUKE
ADEBO VICTOR ESECHE
ADEBOLA OLUSEGUN OLAJIDE
ADEBOMI EBUNOLUWA
ADEDAYO ADEYINKA ADEYEMI
Account
No Name
73.
74.
75.
76.
77.
78.
79.
80.
81.
82.
83.
84.
85.
86.
87.
88.
89.
90.
91.
92.
93.
94.
95.
96.
97.
98.
99.
100.
101.
102.
103.
104.
105.
106.
107.
108.
109.
110.
111.
112.
113.
114.
115.
116.
117.
118.
119.
120.
121.
122.
123.
124.
125.
126.
127.
128.
129.
130.
131.
132.
133.
134.
135.
136.
137.
138.
139.
140.
141.
142.
143.
144.
1905
8381
1907
6653
5467
429
5025
5717
1913
4518
7720
4516
3229
6542
704
1834
8130
104
3710
8631
7198
5886
1370
726
3708
1845
4964
688
1869
1870
4193
1872
5942
7740
1876
7086
5036
5349
2462
3
8137
8152
4
7401
3701
1882
3698
5
3323
4573
3697
8184
4187
8176
7195
1393
5912
3623
4918
6235
5913
5372
3641
5413
5346
4805
1919
1920
6176
4947
8178
4917
ADEDAYO M. OLAJUWON
ADEDEJI ADEFOWOPE GBENGA
ADEDIJI ISAAC OMOLOLU
ADEDIRAN OPEYEMI ADEWUMI
ADEDIRAN PAUL ADEBOWALE
ADEDOYIN GHOGHO TEMITOPE
ADEFILA MOTUNRAYO FELICIA
ADEGBERO KAYODE OLUSEYE
ADEGBITE ADEDOTUN OLAWEPO
ADEGBITE ADEYEMI LATEEF
ADEGBITE ADEYEMO OLAYINKA
ADEGBITE OLUKEMI OLUBUNMI
ADEGBOLA TITILOPE
ADEGBOYE JAMES BABATUNDE - OCCAM
ADEGBOYE KEHINDE ISAAC
ADEGBOYEGA MICHAEL OLUSEGUN
ADEGOKE TEMITOPE ADENIKE
ADEGOROYE GOKE
ADEJINMI OLADOYIN JANET
ADEJOKUN OLUBUKOLA ADEOLA
ADEJORIN ADETAYO PRINCE
ADEKANYE MUDASHIR ADENRELE
ADEKOLA TEMILADE
ADEKOYA OLATUNBOSUN
ADEKOYA OLUMIDE ADEMOLA
ADEKOYA OLUSOLA JULIUS
ADEKUAJO CHARLES & FRANCIS (MR.& MRS.)
ADEKUNLE BAMIDELE
ADEKUNLE EMMANUEL OLUDAISI
ADEKUNLE KAYODE OLUFEMI
ADEKUNLE TEMITOPE ALBERT
ADELAJA ADEBOLA AYODEJI
ADELANI ADEKUNLE AFEGBAI
ADELEKE BABATUNDE ABAYOMI
ADELEYE OLUGBENGA ABIODUN
ADELEYE OLUWASEUN BETTY
ADEMEFUN KOLA OLUFEMI
ADEMOLA SHAFIU ADEWOLE
ADEMOSU OLASUPO
ADEMOYE ABIODUN
ADENIJI TAOFEEK YOMI
ADENIRAN OYENIYI
ADENIYI ADEYEMI
ADENIYI TOLANI ALADE
ADENUGA OLATUNJI PETER
ADEOGUN IYIOLA
ADEOGUN JULIANAH YEMISI
ADEOLA ANIFOWOSHE
ADEOLA GANIYU OLAJIDE
ADEOLU AUGUSTINE ABIODUN
ADEOYE FREDRICK
ADEPOJU IYEBIYE OLUWADUNBARIN
ADEREMI ISAAC ADENIYI
ADEREMI TOYIN MARY
ADESANYA ADEBAYO MAYOWA
ADESEMOWO ADEFOLARIN OLAITAN
ADESEMOWO OYEBADE OBASANJO
ADESHINA BOLA
ADESINA OLABODE ADEBAYO
ADESULURE ROSEMARY MODUPE
ADESULURE ROSEMARY MODUPE
ADESUNLOYE ADEBISI
ADETAYO SOLOMON TUNDE
ADETOLA GABRIEL ADEBAYO
ADETORO TAIWO
ADETUGA ADEDOYIN TABURA
ADETULA BABATUNDE TIMOTHY
ADETUNJI ADEKOYA
ADETUNJI ADESOKAN ELIJAH
ADEUYI OLAOLUWA O
ADEWALE OLAIDE SHAKIRAT
ADEWOLE BABATUNDE FARUQ
Account
No Name
145.
146.
147.
148.
149.
150.
151.
152.
153.
154.
155.
156.
157.
158.
159.
160.
161.
162.
163.
164.
165.
166.
167.
168.
169.
170.
171.
172.
173.
174.
175.
176.
177.
178.
179.
180.
181.
182.
183.
184.
185.
186.
187.
188.
189.
190.
191.
192.
193.
194.
195.
196.
197.
198.
199.
200.
201.
202.
203.
204.
205.
206.
207.
208.
209.
210.
211.
212.
213.
214.
215.
216.
7746
1923
6723
6237
4916
8593
5381
1926
3315
6807
6796
3637
5498
8390
1930
6822
6
1932
7097
1933
1934
1935
1126
3342
3324
4941
4940
4938
3622
6977
8634
4202
4365
3449
4366
1943
6507
8051
3303
3367
8393
706
6545
8154
1752
8394
1668
1212
9
6241
4924
3630
4182
6242
3281
3231
3629
1953
5392
176
4380
1066
8396
7757
7757
8397
5358
7985
4612
4920
8398
1956
ADEWOLE SOLOMON FELIX
ADEWUMI BABATUNDE JOSEPH
ADEWUMI TINUOLA ADEWUMI
ADEYANJU AJIFOLAWE OLAITAN
ADEYANJU TIMOTHY AKANJI
ADEYEMI ADEBANJI ADEDEJI
ADEYEMI ADEKUNLE MARK
ADEYEMI EDNA
ADEYEMI M ADENIYI
ADEYEMI MUIBAT
ADEYEMI RAHMAT OLURANTI
ADEYEMI TAIWO RAHMAN
ADEYEMI TEMITAYO PHILIP
ADEYEMI WILLIAMS OLUSEGUN
ADEYEMO ADE
ADEYEMO ADESOLA ALEX
ADEYEMO SIMEON OLUSEGUN
ADEYERI SUNDAY OLUGBENGA
ADEYINKA ADEDAPO SUNDAY
ADEYINKA OLADIPUPO
ADEYINKA OLUKOLAPO ROTIMI
ADEYINKA OLUROTIMI
ADEYINKA OLUWAREMILEKUN
ADH NOMINEES LTD
ADH NOMINEES/ SALAUDEEN OLADIMEJI ISMAIL
ADIGUN OLAMIDE
ADIGUN OLASUNKANMI
ADIGUN OLAWALE AYINDE
ADIGUN OLAWUNMI ALADEKOMO
ADIGUN OMOWUMI T.
ADIGWE EZEKIEL NDUBUISI
ADIO ADEMOLA ALEXANDER
ADIO ARUNA ABIOLA
ADIRA AKISON
ADISA HAMMED OLANREWAJU
ADISA OLABISI TEMITOPE
ADO SANI MAI HULA
ADO YOLA ZAKARIYYA
ADOGIE ABDULRAHMAN ALENOGHENA (SOW)
ADOLPHUS EBELECHUKWU EZENWA
ADUBUOLA ATINUKE TOLULOPE
AFANU JOSEPH ABAYOMI
AFOLABI FAIDAT FOLASADE
AFOLABI OLAYEMI KAZEEM
AFOLABI OMOWUMI EUNICE
AFOLABI SUNDAY IBUKUN
AFOLABI TABITHA ADUNOLA
AFOLALU ABISOLA OLANREWAJU
AFOLARIN BANWO
AFONNE JOSEPH-CHUKWUEMEKA
AGADA E. AGADA
AGADA SOLOMON AGADA
AGARAWU KUDIRAT ADERONKE
AGBAEGBU NNAMDI
AGBAPU BETHRAM
AGBAPU CHIDOZIE
AGBOGO VANESSA O.
AGBOLUAJE KABIR LAWAL
AGBOLUAJE LUKUMAN OLAWUMI A
AGBOOLA OLAIDE
AGBOOLA RAPHAEL AYOOLA
AGBOTI AZUBUIKE EMMANUEL
AGENE OMOLUMEN
AGHEDO ANTHONY BLESSING
AGHEDO ANTHONY BLESSING
AGHETE EDWARD FRANKIN
AGSABO JACOB OGUNBIYI
AGU EMMANUEL CHUKWUEMEKA
AGUGUO JACINTA CHINYERE
AGUNBIADE FESTUS ADELOYE
AGUNBIADE RASHEED OLATUNJI
AGUSTO OLANDE ASHABI
Account
No Name
217.
218.
219.
220.
221.
222.
223.
224.
225.
226.
227.
228.
229.
230.
231.
232.
233.
234.
235.
236.
237.
238.
239.
240.
241.
242.
243.
244.
245.
246.
247.
248.
249.
250.
251.
252.
253.
254.
255.
256.
257.
258.
259.
260.
261.
262.
263.
264.
265.
266.
267.
268.
269.
270.
271.
272.
273.
274.
275.
276.
277.
278.
279.
280.
281.
282.
283.
284.
285.
286.
287.
288.
3634
3509
6699
1739
8162
1959
4375
732
733
4861
1965
8086
6437
4858
5395
3279
8087
8090
8402
1970
3663
4853
7262
1977
8084
976
137
6724
6805
7823
7756
8640
1988
2183
4215
5673
3659
707
1487
640
4379
2187
1177
8080
2190
6201
3657
6661
6571
3669
3655
2194
5642
3653
6560
298
6001
5497
3651
2200
3650
6186
7900
5517
7383
6568
7042
3791
6577
5787
3706
2209
AGWU CHUKWUEMEKA KALU
AHMAD ABDUKADIR
AHMADU JA’AFARU JIBIYA
AHMED TEMITAYO OLUWAFEMI
AHMODU AJARA
AIGBODJE OVO
AIMS ACHIEVERS CONSULTING LTD
AIYELEYE AYODELE PHILIP
AIYELEYE FRANCIS BANKOLE
AIYERIN OYEDELE
AIYERIN OYEDELE
AIYETAN BUNMI OLAMIDE
AJA KALU
AJADI OLAWALE FATAI
AJADI OLAYINKA
AJAEGBU CHIDI O
AJAGBUSI BOLARINDE
AJAH EKEOMA
AJALA ADESOYE OYINADE
AJAYI ADEDIRAN GABRIEL
AJAYI BABATUNDE
AJAYI COMFORT KEHINDE
AJAYI KEHINDE OLUWATOYIN
AJAYI OLANIYI OLALEKAN
AJAYI OLUWASHOLA MICHAEL
AJIBOLA-ODU OLUKEMI TOLULOPE
AJIBOYE GBENGA
AJIMOTOKIN ADETAYO VICTOR
AJISEFINNI ADEBOLA SIKIRU
AJOKU CHIBUZO NNAEMEKA
AJOLOKO IDOWU OLAWALE
AJOSE OLUWATOYIN AJOKE
AJOSE-ADEOGUN OLUREMI
AJOSE-ADEOGUN OLUYINKA
AJUGA BEDE CHIDIEBERE
AJUKWU CHINEDU CHRISTIAN
AKA HAKEEM OLAWALE
AKABOGU NCHEDO AUGUSTINA
AKACHUKWU IHUARU UZUEGBU
AKAIGWE CHRISTIAN OGOCHUKWU
AKAM GEOFFREY
AKAMELU OBIANUJU ADLINE
AKAN BASSEY ENENE
AKANDE ALABA DR & MRS
AKANDE AYODELE ALABA
AKANDE BABATUNDE JOSHUA ALAMU
AKANO OLASUMBO AKINTAYO
AKANUSI DICKSON
AKAPO DEMILADE EDWARD
AKEANYA CYTHIA
AKEREDOLU-ALE AKINSOLA
AKIGBOGUN AYOOLA OLABIRAN
AKINBAMBO RASHIDAT ADERONKE
AKINBOBOYE FRANCIS TAIWO
AKINDELE HAKEEM AMOO
AKINDELE OLUKAYODE OLADIPO
AKINGBADE KEHINDE MONSURU
AKINGBE AJIBOYE JOSHUA
AKINJOLA OLUGBENGA
AKINJOLE KEHINDE
AKINKUNMI ADEBAYO TAIWO
AKINLABI OLUWASEYI EMMANUEL
AKINLADE BUKOLA KUBURAT
AKINLADE FLORENCE OLUFISAYO
AKINMAMEJI JAMES TAIWO
AKINNOLA OLUWADAMILOLA OLUBOWA
AKINNUGBA ALICE UGONMA
AKINSANYA AYOWUNMI JULIANA
AKINSETE BABATUNDE ADELAKUN
AKINSOYINU ABDUL YEKINI
AKINSUNMADE AKINTOYE OLUKAYODE
AKINTAYO AKINWUNMI ADEWUYI
47
Account
No Name
289.
290.
291.
292.
293.
294.
295.
296.
297.
298.
299.
300.
301.
302.
303.
304.
305.
306.
307.
308.
309.
310.
311.
312.
313.
314.
315.
316.
317.
318.
319.
320.
321.
322.
323.
324.
325.
326.
327.
328.
329.
330.
331.
332.
333.
334.
335.
336.
337.
338.
339.
340.
341.
342.
343.
344.
345.
346.
347.
348.
349.
350.
351.
352.
353.
354.
355.
356.
357.
358.
359.
360.
361.
362.
363.
364.
365.
366.
367.
368.
4874
6979
3783
3782
2212
7253
2213
6174
3319
2216
7177
8110
8609
6543
6198
6195
6200
2219
2223
6463
6994
6802
3777
2227
3789
286
7874
3772
8033
5363
4356
437
7043
5333
3801
4357
4820
5782
6262
5641
6265
3803
5023
8591
642
102
3778
3812
3811
578
6569
3809
8115
8105
5357
5387
709
8409
3805
8104
6727
2248
2249
2250
8103
8101
6804
5008
2252
7747
5634
746
745
6919
2254
4619
748
4683
6454
2256
48
AKINWANDE JAMES ABIODUN
AKINWANDE MOSES FOLORUNSO
AKINYEMI IBIYEMI
AKINYEMI KEHINDE
AKINYEMI KOLA
AKINYEMI MORUF KEHINDE
AKINYEMI MUYIWA
AKODAOLU SAMSON ABAYOMI
AKOMOLAFE LADIPO
AKOSILE ADEGBOYEGA RAZAK
AKPAMGBO CHARLES OKECHUKWU
AKPAN ANTHONY PIUS
AKPAN ESSIEN EFFIONG
AKPAN UKEME PETERS
AKPEJI AUGUSTINE AYODELE
AKPEJI MONICA YETUNDE
AKPEJI STELLA OMOBOLANLE
AKPUOGWU ANAEFUNA
AKUMABOR IMUETINYAN VICTORIA
AKWAKWA EFE JOHN
ALAAFIN PETER ADEYEMI
ALAAFIN PETER ADEYEMI
ALABARAONYE KELECHI
ALABI MAHMOUD LAI
ALABI OLADELE ADEBIYI
ALABI OYETOLA OLAONIPEKUN
ALABI WASIU ADEBOWALE
ALAJA-BROWNE FOLAYEMI
ALAMAS MUSA NGALE
ALAMU AKEEM
ALAO EMMANUEL SEGUN
AL-ASA NIGERIA LIMITED
ALBABA YAKUBU
ALEJO OLAWANDE OLAYINKA
ALFRED DELE DAMILOLA
ALI A. A.
ALI AMBISISI DANLAMI
ALI AUDU
ALI FLORENCE KINYAR
ALI MOHAMMED MOHAMMED
ALIDU CHRISTOPHER
ALIGO CHINEDU VINCENT
ALIMHINGBE MICHAEL OWHEGOJABO
ALIYU HAMZA ABUBAKAR
ALLI ADEBAYO
ALLI BALOGUN TOKUNBO (DR)
ALLO ABIOLA
ALLO MORONKEJI
ALLO RASHEEDAY
ALLWELL-BROWN SIENNE
ALO ADEWALE DANIEL
ALOBA OLASUPO OLUWASEYE
ALOBA OLUWASEYI CALEB
ALOGBE OTHUKE EPHRAIM
ALOMO ABDULRASHEED ABIOLA
ALONGE AYODELE
ALUKO ADETORO
AMACHREE ABIYE AUGUSTINE
AMAO ABDUL - RASAQ OWOLABI
AMAO OLAJIRE OMOWUNMI
AMAYE FOME FOREMAN
AMEADAJI ILEMONA
AMEADAJI OJONE
AMEADAJI OJONUGA
AMEEN MUBARAK AHMAD
AMEEN MUHAMMED B A
AMINU AMINAT OMOLARA
AMODU FAUSAT OLUWATOYIN
AMONIYAN OLUWADUROTIMI OLADELE
AMOO TOPE SALIU
AMOS EMMANUEL
AMOS IKEDIUWA TROST
AMOS TROST
AMOS-OSEBEYO BOLARINWA-GD/M A/C
AMUND AYODEJI PAUL
ANAMENE COSTANCE NONYE
ANDEOBIH LTD
ANDY STEVE MOMOH
ANEKWE ERIC UGOCHUKWU
ANGEL TOLUWANI F. C.
Account
No Name
369.
370.
371.
372.
373.
374.
375.
376.
377.
378.
379.
380.
381.
382.
383.
384.
385.
386.
387.
388.
389.
390.
391.
392.
393.
394.
395.
396.
397.
398.
399.
400.
401.
402.
403.
404.
405.
406.
407.
408.
409.
410.
411.
412.
413.
414.
415.
416.
417.
418.
419.
420.
421.
422.
423.
424.
425.
426.
427.
428.
429.
430.
431.
432.
433.
434.
435.
436.
437.
438.
439.
440.
441.
442.
443.
444.
445.
446.
447.
448.
323
8410
295
6272
5042
5626
3462
6273
6688
950
3799
6520
5052
5552
3798
2266
2267
3455
1450
5048
6464
8413
6857
8094
3796
8414
3232
8093
3792
5946
7904
1039
2282
5837
5953
3813
2286
3740
1420
369
2236
3233
157
3341
2291
2292
4372
7853
2294
4727
8655
4714
8654
6276
3737
7102
3735
8620
4664
5462
5974
4302
1459
4402
2298
4403
8604
5638
4176
6975
4983
2299
924
4149
5629
3733
6519
755
2307
3729
ANGELA TELLA MORIAMO
ANGYU SIMON ISTIFANUS
ANIDUGBE KOFOWOROLA OLAITAN
ANOINTED FEET PRIVATE SCHOOL
ANOSIKE BENJAMIN NNAMDI
ANOSIKE ERIC IKENNA
ANOSIKE ONYEMAUCHE JAPHET
ANSARI RUTH
ANTHONY CHINONSO ANTHONY
ANUCHE NGOZI MAUREEN
ANUFORO IBE
ANULIGO GRACE UDUIFEOMA
ANUNOBI THEOPHILUS
ANURUKEM CHIMA
ANUUWA UCHECHUKWU CHUKWUDI
ANYAELE NNENNA
ANYANWU BERNARD OBIDINMA
APATA ADEDAYO TOBA
APEX IT SERVICES LIMITED
ARABI OLUWASEUN JOSEPH
ARAOYE CHRISTIANAH OLABISI
ARASE GRACE MUAME
ARAZU VIVIAN NNEKA
ARCHIBONG LOUIS EDEM
AREMU FOLAKE THERESA
AREMU TOYIN IYABO
ARIDOZ INVEST. & PROPERTIES LTD
ARIYO RAFIAT OLAJUMOKE
ARIYOH RILWAN ABIODUN
AROGBAOLA AKINWANDE NIYI
AROKOYU OLUSOLA FLORENCE
AROWOLO OLUSEUN GBADEBO
AROWOSHOLA OLUFUNMILAYO ADERINSOLA
ARUNA OLADEINDE WASIU
ARUNAH DENIS
ASALU SAMSON
ASEIN BOLA FUNMILAYO
ASHIRU IDOWU BASHIRU
ASHIRU-BALOGUN ADEOLA
ASIJE MICHAEL A.
ASIMOLOWO BASHIR OLABAMIJI
ASINOBI ONYEWUCHI CHIKEREM
ASINOBI OYEWUCHI (DR)
ASSOCIATED ASSET MANAGERS LIMITED
ASU ARCHIBONG UTONG
ASUBIOJO OLUWEMIMO COMFORT
ASUNMO RASAQ AJAYI 2
ASUZU DELIA
ATALABI BRENDA TEMILOLA
ATALOR ABEL
ATANDA AZEEZ ISHOLA
ATAWODI SALIU
ATE GIDEON ATIM
ATITEBI OMOBOLADE ADEOLA
ATOGWE IMONE JOHN
ATSANDA RAS CYRIL
ATTAH OGOCHUKWU
ATTAMAHCHUKWU VALENTINA OSAYEMWENRE
ATTAZAIKI ISMAIL
ATUBE EMMANUEL CHIBUZOR
AUDU MARY ADUN
AUDU MONDAY HAPPINESS
AUGUSTA OGBON
AVROSYN IMPEX LIMITED
AWAH HELEN C/O CHIKA UMEDEZIE
AWAZIE NDUBUISI CHUWUNYERE
AWE ADEBISI JANET
AWE OLAMIDE DAVID
AWODERU OLUWOLE
AWODOYIN OLUWATOSIN IFEDOLAPO
AWOFESO EZEKIEL ADEDAYO
AWOJOBI OLUSOJI A. IDOWU
AWOJOOPU BANKE YETUNDE
AWONUSI EYITAYO SAMUEL
AWOPETU OLUWAKEMI TOLULOPE
AWOSANYA WASIU OLALEKAN
AWUJOOLA OLUSESAN JOSHUA
AXHOLME NOMINEE LTD ‘JB’ ACCOUNT
AYEDIRAN FUNMILAYO
AYELE PATRICK ILOBA
Account
No Name
449.
450.
451.
452.
453.
454.
455.
456.
457.
458.
459.
460.
461.
462.
463.
464.
465.
466.
467.
468.
469.
470.
471.
472.
473.
474.
475.
476.
477.
478.
479.
480.
481.
482.
483.
484.
485.
486.
487.
488.
489.
490.
491.
492.
493.
494.
495.
496.
497.
498.
499.
500.
501.
502.
503.
504.
505.
506.
507.
508.
509.
510.
511.
512.
513.
514.
515.
516.
517.
518.
519.
520.
521.
522.
523.
524.
525.
526.
527.
528.
4815
2308
2311
5965
999
4976
3644
8006
8356
5536
8419
118
4982
4706
4984
1014
4399
4282
7840
7808
5000
7829
4410
590
1068
4590
7789
7534
7767
5859
3511
4991
5492
4412
2343
2344
4165
8644
2346
2347
2348
2350
3721
5890
17
8294
3470
4407
6845
4279
712
2357
6171
3728
7054
1462
2361
4214
4951
6440
3474
4780
8297
765
5820
1608
2365
105
8204
6715
5960
4300
3761
3760
4175
49
6830
158
975
315
AYENI AGNES OLAWUMI
AYENI ALEXANDER
AYENI OLORUNGBON DAVID
AYILARA FALILATU ASANI
AYINDE ABIMBOLA OMOTANWA
AYINDE GBENGA OLUBODE
AYODELE OLUSEGUN
AZIONU CHINEDU RAPHAEL
AZUONWUN COLLINS UCHENNA
BA’ABA ABUBAKAR
BABAJIDE ISIAKA AMOO
BABAJIDE OLUWASANMI
BABAJIDE SUNDAY ADELEKE
BABALOGBON TEMITOPE JOSEPH
BABALOLA ADEGBOYEGA ADESOJI
BABALOLA OLUSOLA
BABA-MANU MARYAM
BABA-MANU RUKAYYATU
BABATUNDE NEE ONAADEPO ADEJOKE
BABATUNDE OLUWATIMILEHIN ADEMIDE
BABATUNDE SEUN
BABAYARO BARAATU
BABFAL NIG LTD
BADEJOKO ADETOLA O.
BAJAH EMIKO
BAKARE BAKARE ADEBAJO AKEEM
BAKARE FAUSAT OLAYEMI
BAKARE PANIAGUA DAMILOLA
BAKARE PANIAGUA DAMILOLA
BALA MUSTAPHA DAWAKI
BALARABE LAWAL HALIMATU
BALOGUN ADENIYI SHAKIRU
BALOGUN ADENIYI SHAKIRU
BALOGUN Y.
BAMGBOPA ABDULAZEEZ KAYODE
BAMGBOPA KEHINDE
BAMGBOYE YOMI OLUWASEUN
BAMIDURO KEHINDE BUKOLA
BAMIGBETAN DELE
BAMIGBETAN DOTUN
BAMIGBETAN KAYODE
BAMIGBETAN OLUKAYODE
BAMIGBOJE BEATRICE
BANKOLE TAOFIQ ASHOLA
BARUWA FATAI
BARUWA IBRAHIM TEMITOPE
BASHIR FATIMA UMAR
BASIC POWER PRODUCTS LTD
BASSEY IFREKE IME
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CAC ALABUKUN BENEVOLENT GROUP
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CAPITAL CONSORTIUM LIMITED
CARDINAL DEVELOPERS & TRUST LTD
Account
No Name
529.
530.
531.
532.
533.
534.
535.
536.
537.
538.
539.
540.
541.
542.
543.
544.
545.
546.
547.
548.
549.
550.
551.
552.
553.
554.
555.
556.
557.
558.
559.
560.
561.
562.
563.
564.
565.
566.
567.
568.
569.
570.
571.
572.
573.
574.
575.
576.
577.
578.
579.
580.
581.
582.
583.
584.
585.
586.
587.
588.
589.
590.
591.
592.
593.
594.
595.
596.
597.
598.
599.
600.
601.
602.
603.
604.
605.
606.
607.
608.
3282
3340
7825
3390
1300
3742
5951
1416
483
8426
1127
5976
325
324
6285
5995
2381
5563
4967
3472
8659
2382
3751
8719
8649
4972
5551
150
3750
3325
20
3295
2386
6732
3297
2398
5033
5038
6812
5515
6006
5053
7765
6967
8429
3525
8263
3537
2412
6531
8431
1531
1161
1159
5338
6290
7089
3543
6541
2418
2419
2420
2422
2423
3235
2429
1804
8621
5018
26
305
162
4207
5024
6218
8624
4870
1292
4266
5798
CARDOSO OLAYEMI
CHAMS PLC 2008 PRIVATE PLACEMENT SUSPENSE ACCOUNT
CHIBUIKEM REX CHIDIEBUBE
CHIBUOGWU IJEOMA M
CHIBUZO-ONYEBUENYI CHIKA B.
CHIGBU KINGSLEY NDUBUSI
CHIMA KINGSLEY TOCHUKWU
CHINAKA CHINONYE
CHINECHEREM FABIAN E.
CHINWE HOPE OKEKE
CHIVALRY MERCHANTS & BROKERS LTD
CHRISTOPHER EMEKA
CHUKWU ANN
CHUKWU BOBBY THEOPHILUS
CHUKWU EVELYN CHIBOGU
CHUKWU GODWIN
CHUKWUEBUNI PATRISON
CHUKWUEDO AUSTIN IKECHUKWU
CHUKWUEKETE CHRISTOPHER
CHUKWUMA PAUL NNODI
CHUKWUMALU UJU MARYLINDA
CHUKWUMERIJE CHUBY NNAEDOZIE
CHUMPYPLANET ENT. & GEN. MERCHANISE
CHUNDUSU DAFON ISHAYA
CITY DEALS GLOBAL VENTURES
CLAD LIMITED
CLAD LIMITED
CLEARVIEW INVESTMENT CO. LTD
COLLINS IBEKWE
COLTROSS LTD
COMPSOLVE INTERNATIONAL LINK
CORE TRUST & INVESTMENT LTD
CORNERSTONE TRUSTEES A/C PETERS EMMANUEL OLULONIYIN
CRYSTALIFE ASSURANCE CO. LTD-NOMINEE A/C
CTC GLOBAL VENTURES
DADA OLUROPO OLUBODE
DADA TEMITOPE
DAIRO BABATUNDE FISAYO
DANBUGA ABDULKADIR JELANI
DANIA LAMIN GHAZI
DARAMOLA OLUREMI ALICE
DAUDA HEMAN
DAUDA MOSHOOD OLADIPUPO
DAVID DANIEL
DAVID DANLADI UGBEDE
DD INTEGRATED INVESTMENT SERVICES LTD
DEABODE INVESTMENT LIMITED
DE-CANON INV.-TRADED-STOCK-A/C
DELE-GIWA OLUFUNMILAYO
DERE WASIU ABIODUN
DIBOR ANTHONY AMACHI
DICK-NWOKE UGORJI NNANNA
DIKE ESE OGHENE
DIKE ODJUS
DIM JOHNSON UCHE
DIMKA EZEKIEL GOTOM
DIYAN OLUWATOSIN OLALEKAN
DOKUBO TONYE THEOPHILUS
DOPEMU SUNDAY OLAYIWOLA
DOSUNMU ADETOUN
DOSUNMU AJIBIKE
DOSUNMU OLUSEYE
DOYIN IFEDAYO
DR ADEPETUN ADEBAYO
DR KEWA SAMAILA MUSA
DR MRS SODIPO OLUFUNLAYO OLAYINKA
DRMOLOVA GBOLAHAN NOIMOT
DUDUS MOTIVE ENTERPRISES
DUNG RUTH JOHN
DURODOYE KAZEEM
DURODOYE KAZEEM KOLAWOLE
DURUIKE ALEX
DYNAMIC ADONAI COOPERATIVE SOCIETY
EBERE IFEANYI PAUL
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ECOBANK/TRANSWORLD INV. & SEC. LTD-TRDG
EDEM AKAN ISRAEL
EDET RICHARD E.
EDOMWONYI OGHOSANOR
EDOMWONYI OSARUGUE EDITH
Account
No Name
609.
610.
611.
612.
613.
614.
615.
616.
617.
618.
619.
620.
621.
622.
623.
624.
625.
626.
627.
628.
629.
630.
631.
632.
633.
634.
635.
636.
637.
638.
639.
640.
641.
642.
643.
644.
645.
646.
647.
648.
649.
650.
651.
652.
653.
654.
655.
656.
657.
658.
659.
660.
661.
662.
663.
664.
665.
666.
667.
668.
669.
670.
671.
672.
673.
674.
675.
676.
677.
678.
679.
680.
681.
682.
683.
684.
685.
686.
687.
688.
4875
3528
4232
4686
3533
4676
4793
7888
3532
1038
6527
7933
4265
8438
6526
4316
3538
6742
7197
3260
1688
2437
8605
7852
6294
4604
4885
3424
8607
2439
7098
5911
560
1741
153
8440
1242
4879
8441
4632
3527
4186
3261
4814
4796
4790
3326
232
7388
620
5906
1113
8000
5905
249
5412
411
6522
3408
3405
3595
3594
3592
3601
3589
3588
8445
5902
4343
4859
4342
5586
1194
15
7166
4921
5628
2458
5495
3546
EDUN AKINBODE OWOLABI
EDUN NGOZI ROSEMARIE
EDWARD HELEN
EGBENI NKEM EMMA
EGBO AMAECHI
EGBO AUGUSTINE ESEROGHENE
EGBO CHUKWUMA JOSEPH
EGBOO CHRISTIAN EZECHUKWU
EGBULEFU DENNIS OBINNA
EGEDE ROLAND EFE
EGEKENZE PATRICK IKECHI
EHIMIAGHE OIKELOME JOSEPH
EHIOGHIREN A. IKPONMWOSA
EJIDE EDNA CHIZOBA
EJIMOFOR UCHE
EJIMOKUN OLANREWAJU OLAMILEKAN
EKE CLINTON NNAMDI
EKE OGBONNA KEN
EKEANYA CYNTHIA OMONIGHO
EKEH LEO-STAN
EKEJI CHIKA
EKEOGU BRIDGET
EKPEMAUZOR CHINENYE NWANDIOLE
EKPERIGIN VALERIE OGECHI
EKPIKEN MAGNUS ETIM
EKPO AUGUSTINE PAULINUS
EKPO EDIMA BEN
EKUNDAYO MICHAEL OLU
EKWEALOR JOY UYO
EKWENSI CHIGOZIE DORIS JENNIFER
EKWUGHA PATIENCE CHIAMAKA
EKWUNIFE WISDOM OSITADINMA
ELAIHO JEROME
ELAIHO OBI STELLA
ELAKAMA LANCE MUSA
ELEGBEDE AMINAT OMOLOLADE
ELELU BOLAJI RAFIU
ELEMORO BABATUNDE
ELI-TOYO & ASSOCIATE LIMITED
ELOM HYGINUS FRIDAY NWENYI
ELUEHIKE CELESTINE
ELUWOLE OLASUNKANMI ADEWALE
EMEFIELE GODWIN IFEANYI
EMEH CYNTHIA EZINNE
EMEH EDWARD IFEANYI
EMEH VICTOR CHINOMSO
EMGC NOMINEES
EMMANUEL INNOCENT MEBEI
EMMANUEL KINGSLEY EYINECHUKWU
EMMANUEL OLUGBENGA OBISESAN
EMU FIDELIA OREVAOGHENE
ENENDU MIKE OGBONNA
ENGINEERING INSPIRATION NIG. LTD.
ENITINWA MOBOLAJI OLUWATOSIN
ENO BAKHARE OGHOGHO YEWANDE
ENUMA JOSEPH OBIEZE
ENYINNAYA IVIE
EQUERE MERCY NSEOBONG
EREZI AJIRI ROXY
EREZI JESUOVIE LOUIS
ERIH DAVID JNR
ERIH ESEBOMA
ERIH OINE
ERIH SANFORD A
ERIH VANESSA
ERNEST JOHN & CO LTD
EROMOSELE OSEMUDIAMEN EMMANUEL
EROMOSELE OSEMUDIAMEN OLUWASHINA-AYOMI
ESARA JAMES
ESSANG ETIM OKON
ESSANGENYI EDET EDET
ESSIEN EKAETTE MERCY
ESSIEN ROSEMARY
ESTATE OF ASALU AKINTUNDE
ESUMEH CHRISTOPHER IZU
ETSIAME CECILIA
ETSIAME CECILIA
ETTE ENE IKPONG
ETUK AKANINYENE ETIM
EVO NNANA SAMSON
Account
No Name
689.
690.
691.
692.
693.
694.
695.
696.
697.
698.
699.
700.
701.
702.
703.
704.
705.
706.
707.
708.
709.
710.
711.
712.
713.
714.
715.
716.
717.
718.
719.
720.
721.
722.
723.
724.
725.
726.
727.
728.
729.
730.
731.
732.
733.
734.
735.
736.
737.
738.
739.
740.
741.
742.
743.
744.
745.
746.
747.
748.
749.
750.
751.
752.
753.
754.
755.
756.
757.
758.
759.
760.
761.
762.
763.
764.
765.
766.
767.
768.
8446
2463
2464
4687
8117
648
1464
2469
2470
2472
2473
4337
6301
7140
1693
5770
2476
2477
2478
2479
5742
5815
5603
3617
7897
6648
770
7453
30
4939
2484
4943
2488
682
2492
5940
6839
4893
2493
5432
2495
8057
773
1698
6205
829
2505
40
156
4178
7851
6307
1133
8454
3283
161
1655
668
1630
1635
1641
8627
3236
209
1073
8357
8455
3311
3331
5583
4743
3501
7988
5365
8337
4332
5735
5863
7396
7447
EWALEIFOH ISAAC
EWALEIFOH ISAAC
EWERE HENRY OGBEMUDIA
EYETU BENJAMIN ONOSIGHO
EZE MICHEL UMEH
EZE OBINNA EMMANUEL
EZE VINCENET IFEANYI
EZEASOR AMECHI
EZEASOR CHIAMAKA FAVOUR
EZEASOR CHIOMA PRINCESS
EZEASOR ODINAKA AUGUSTA
EZEBUIKE DANIEL ILOAMAEKWU
EZEKA MARTIN CHUKWUNONYE
EZELIORA AMAKA JULIANA
EZEMA CHUKWUEMEKA
EZEMA JOHN CHIDI
EZEOKE FLORENCE ERIWUAKU
EZEOKE JOHN OBIAGBOSO
EZEOKE LAUREN NKIRU
EZEOKE MALACHY UCHE
EZERIOHA OKECHUKWU ANTHONY
EZIMAH COMFORT CHIGOZIE
EZUGWU CHIDINMA LOVETH
FABIYI MICHAEL TAIWO
FAD DATA CONSULT LIMITED
FADAHUNSI OLUWOLE OLADIPUPO
FADAYOMI MIKE
FADEYI OYEDEJI
FADIORA OLUROTIMI JACOB
FADIPE TUNDE ABODUNRIN
FAGBAMIYE SEYE
FAJANA MOTUNRAYO
FAJOBI OMOTOLANI
FAKOLADE TEMITAYO ONAOLAPO
FALAYE FOLUSO BAMIDELE
FALAYI TOMIKE
FALAYI TOMIKE
FALETI PHILIP OLUWOLE
FALOWO TUBOSUN TOKUNBO
FAMORITADE OLAYEMI
FAMUREWA ABAYOMI
FARI IBRAHIM UMAR
FARODOYE OLAKUNLE JOHN
FAROTIKA TOPE EBENEZER
FAROTIMI DAVID OLABODE
FASHINA TEMITAYO
FATAYI WILLIAMS EYONO
FATIREGUN IBIDUNNI
FATOBI FUNSHO
FATOKI LATEEFAT ABISOLA
FAWOLE OLUSOLA BABATUNDE
FEM INTERLINKS VENTURES
FETLOCK NIGERI A LIMITED
FICM LTD
FIELDCO LTD
FIRST INLAND SECURITIES & ASSETS MGT LTD
FIRST TRUSTEES A/C BOLADE OJE
FIRST TRUSTEES A/C OKOLOCHA GILBERT
FIRST TRUSTEES A/C OMOJOLA FOLA
FIRST TRUSTEES A/C OMOJOLA TOLUWALASE
FIRST TRUSTEES A/C OMOJOLA TOMI
FIRSTBANK/ENTERPRISE STOCKBROKERS -TRADG
FLOODGATE FIN. & SEC. LTD
FLOORTEX WEST AFRICA LTD
FOLA-ALADE ADEOLA REMILEKUN
FRANK PAPILL NIGERIA LIMITED
FUBARA TEKENA A.
G FOLAYAN
G. Q. SARITAN VENTURES LTD.
GALADANCHI HASSAN SHEHU
GALADIMA FATI BABA
GAMBO AHMAD SULAIMAN
GANI ALHASSAN MOHAMMAD
GANIYU BOLANLE FUNMILAYO
GANIYU SAHEED OYETUNDE
GANIYU-RAMONI SADIAT OYENIKE
GARBA HAUWA
GARBA SALISU KABUGA
GBADEGESIN MUTALIB OLAKUNLE
GBAFE RICHARD ABOLARINWA
Account
No Name
769.
770.
771.
772.
773.
774.
775.
776.
777.
778.
779.
780.
781.
782.
783.
784.
785.
786.
787.
788.
789.
790.
791.
792.
793.
794.
795.
796.
797.
798.
799.
800.
801.
802.
803.
804.
805.
806.
807.
808.
809.
810.
811.
812.
813.
814.
815.
816.
817.
818.
819.
820.
821.
822.
823.
824.
825.
826.
827.
828.
829.
830.
831.
832.
833.
834.
835.
836.
837.
838.
839.
840.
841.
842.
843.
844.
845.
846.
847.
848.
5926
5925
1580
1580
1580
5924
3557
3556
3545
3554
4907
4690
6703
3552
8161
7809
3289
242
8458
4273
2528
2530
4910
6309
8039
6704
8622
4914
5920
5608
4803
6705
6898
5919
4804
4819
1382
412
6222
1700
6922
830
831
832
833
834
835
8610
5918
5308
4623
6675
5327
3275
6673
38
1238
3238
6121
7202
3505
8613
6645
6928
7160
2544
4601
7870
5325
6811
4218
6654
1505
155
5887
8466
4264
3576
6450
3262
GBATEMAN JULIANA MEMBER
GEORGE ENAMETTE SIMON
GEORGE OLANREWAJU OLUSEGUN
GIDAUNIYA INV.& SEC.LTD-TRADED-STOCK-A/C
GILDASSET MANAGEMENT
GIWA OLUFOLAKEMI OLUFOLARIN
GIWA-OSAGIE HELEN
GLOBAL ASSET MGT. LTD-TRADED-STOCK-A/C
GOBIS NDIDI ENDURANCE
GODFREY MARVIN CHIDERA
GODSON MOSES
GOMES S. E. ADEBOWALE
GRACE PERFECT TOUCH SERVICES LIMITED
GRASSLE ‘O CONSULTING
GREENSPACE INVESTMENTS LTD
GSO
GT BANK/CALYX SECURITIES LTD - TRADING
GUNDU SESUGH PETER
GURAMA ADAMU
GYANG FLORENCE DUNG
HAAZORDOZ MERCHANT & TECH LTD
HABEEB HAJIA RAIHANATU
HABIB NAJIB MOHAMMED
HALLIDAY EMILIA
HAMISU GIDE
HANAFI ABDUL GANIY IBRAHEEM
HARRISON KORIBO BENEBO
HARUNA ANGO AMINU
HASSAN DANJARI
HASSAN FAUZZIYAH OLUWAKEMI
HASSAN NURUDEEN OLAWALE
HASSAN OLOLADE IDOWU
HASSAN SALISU
HASSANA IBRAHIM
HAVEN INVESTMENT & TRUST CO.
HIGHYIELD FUNDS MGT LTD
HOFLICH PATIENCE NORA
HUMURI TIMOTHY PWADA
HUNDUGA AMOS KAZUGA
HYCON MILLENIUM A/C KAMSI
HYCON MILLENIUM A/C KAOSI
HYCON MILLENIUM A/C MBACHU
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HYCON MILLENIUM A/C PETER
HYCON MILLENIUM SERVICES LTD
HYELDA LAWAL
IBANGA ANDIKAN IME
IBEAWUCHI JOHNSON NWABUEZE
IBEGBU MICHAEL CHIMEZIE
IBEH EBUKA EVERISTUS
IBEH IFEANYI CHINWENDU
IBEKWE COLLINS OKWUCHUKWU
IBEKWE IFEOMA JUSTINA
IBIDAPO-OBE OYEWUSI
IBIDUNMOYE OLADIPO FOLUSO
IBIOK OWOIDIGHE UDO
IBOK MARY AFAHA
IBRAHEEM MUFUTAU AJISAFE
IBRAHIM ASIYA MOHAMMED
IBRAHIM HAJIYA MARIAM
IBRAHIM JOSEPH KAIGAMA
IBRAHIM KAMARUDEEN OLATUNJI
IBRAHIM MUHAMMAD ILIYASU
IBRAHIM TAIWO
IBRAHIMMOHAMMED IBRAHIM
IDELE KENNETH
IDLOWU OLUFEMI OMOLOLU
IDOKO FAITH AISHETU
IDONIBOYE INYE B.
IDOWU ADEDAYO OLUSEUN
IDOWU OLAWALE EMMANUEL
IDOWU YINKA
IDRIS AHMED
IDUKPAYE IKPONMWOSA
IFEANYI AMAECHI DILLIBE
IFEYEWA CLUB OF NIGERIA
IFUKWU UJU OGONNA
IGBINAKENZUA EBOIGBE ELIAS
Account
No Name
849.
850.
851.
852.
853.
854.
855.
856.
857.
858.
859.
860.
861.
862.
863.
864.
865.
866.
867.
868.
869.
870.
871.
872.
873.
874.
875.
876.
877.
878.
879.
880.
881.
882.
883.
884.
885.
886.
887.
888.
889.
890.
891.
892.
893.
894.
895.
896.
897.
898.
899.
900.
901.
902.
903.
904.
905.
906.
907.
908.
909.
910.
911.
912.
913.
914.
915.
916.
917.
918.
919.
920.
921.
922.
923.
924.
925.
926.
927.
928.
6709
6710
8125
8595
2820
2560
6476
532
7826
3573
3582
5465
41
3493
6128
4625
4156
42
5774
4433
649
7946
8470
5253
5531
697
788
5861
5425
836
485
6323
3393
2582
1240
1239
5622
7204
8147
8138
5814
2585
5411
4824
5864
4806
4559
409
5880
3334
4080
4079
5549
6615
4076
5256
3373
5332
1708
1707
6622
789
4062
4071
8471
6459
6327
6134
8472
6221
2599
7790
4068
4067
8267
8474
573
2607
8475
974
IGBOKWE UCHENNA SUCCESS
IGBOZURUIKE EKENE EDWIN
IGE OLAOLUWA JOHNSON
IGHODO SYLVESTER
IGHO-OSAGIE PHILOMINA AMENAGHAWORO
IGHOOZE-IDAHOSA DONALD
IGOCHE EMMANUEL ECHE
IHEANYI OBIALOR
IHEDIKE JACOB NZUBECHUKWU
IHEJIRIKA ESTHER CHIDINMA
IHEJIRIKA JUSTUS AKUJOBI
IHONDE AIMALOHI AMENAWON
IHONVBERE GRACE
IKANI ANDREW EDEBO
IKOKWU CHIDIOGOR
IKUEZE CHIKA JOSEPH
IKUJINI OLUSOLA MONDAY
IKUMARIEGBE WILSON
IKUNWANNE NELSON ELOZONA
IKWUAGWU ELEKWACHI
ILOBAH ONUORA MICHAEL
ILOBINSO AUGUSTINE ETISIOBI
ILONWA KEVIN O
ILORI F. ADEYEMI EST. OF
ILORI F. ADEYEMI EST. OF
ILUPEJU OLAJUMOKE ABIMBOLA
ILUYOMADE IDOWU
IMAM AYUBA INDABAWA
IMAM MARYAM ISA
IMEH IMOH
IMP NOMINEE YRO
INYANG ESSIEN B.
INYANG ETIM QUEENETTE
IRIOGBE THOMAS OMONZOKPIA
IROBI DAVID CHIKEZIRI
IROBI NOBLE CHINENYE
IROEGBU AUGUSTINE NDIDI
IROEGBU RUFINA AMECHI
IROH IGIRI HOPE
IROKO IFEANYI CHUKWU
ISA DALHATU
ISAAC KENNETH
ISAAC MONICA ANIETIE
ISAH ISYAKU
ISAH ISYAKU RABIU
ISAH MEDINAT SALIHU
ISHOLA LATEEF TEMITOPE
ISICHEI YVONNE UZO
ISMAIL SHEHU
ISRANI KARINA
ITEGBOJE SOLOMON
ITF AJEDIRAN INIOLUWA OLUWAFEYISAYO
ITODO PAUL DANIEL
IWERIEBOR EHIEDU EMMNAUEL GOODLUCK
IWU ODINAKA INNOCENT
IWUCHUKWU ANGELA EBERECHUKWU
IWUOHA MABEL
IYANDA AYODEJI EMMANUEL
IYANDA TEMILOLUWA OGHENERUONA
IYANDA TOLUWANI OGHENEOVO
IYILADE OLUREMI
IYORE CHARLES
IZE-IYAMU FRANCIS
IZUGHA CHINWE JACQUELINE
JAMES EMEKA BABATUNDE
JASPER SAMUEL MSHELIA
JEBODA SOJI
JEGEDE ADEMOLA ANTHONY
JEJE MICHAEL OLUSOLA
JIBRIL ABDURRAHMAN HASSAN
JOE-NWAGBO JASON CHINEDU
JOGUNOMI RAFIU LASISI
JOHN NGOZI EMENIKE
JOHN OLADEJI VICTOR
JOHNSON A MARGARET
JOHNSON IDOWU TANIMOWO
JONAH UKAIBE
JOOJI TOR
JOSEPH JAMES
JOSHUA INVESTMENTS LIMITED
49
Account
No Name
929. 6880
930. 7237
931. 5550
932. 2610
933. 4065
934. 2611
935. 6953
936. 6686
937. 46
938. 1363
939. 652
940. 5247
941. 2621
942. 5268
943. 7948
944. 8270
945. 4769
946. 5352
947. 2634
948. 4013
949. 2636
950. 47
951. 2639
952. 2640
953. 6697
954. 7408
955. 5430
956. 5276
957. 2642
958. 6334
959. 3327
960. 7994
961. 4511
962. 5275
963. 2646
964. 5702
965. 5348
966. 4180
967. 5449
968. 7323
969. 1030
970. 979
971. 3332
972. 552
973. 3258
974. 5274
975. 8277
976. 4838
977. 7162
978. 8618
979. 3995
980. 5265
981. 2653
982. 6638
983. 6636
984. 2656
985. 2657
986. 1109
987. 7234
988. 7474
989. 52
990. 7047
991. 8478
992. 6874
993. 6635
994. 6338
995. 5690
996. 6798
997. 2668
998. 3336
999. 6660
1000.6341
1001.8480
1002.4763
1003.2672
1004.4493
1005.2674
1006.2675
1007.2676
1008.6103
50
JOSIAH DANIEL
JUBRIL AMINU BABATUNDE
JULIUS IBITAYO
JUNAID OLUFUNKE ADEBIMPE
JUNAID SIKIRU AREMU KASHIMAWO
K&F CONSULT LIMITED
KADIRI ABEL
KADIRI PATRICK AIGHUPUE
KADIRI YUSUF
KAJOPAIYE ADERONKE ADEOLA
KALE ADEDAYO ADEBOLA
KALU BLESSING
KANU DONALD
KANU SILAS ONWUCHEKWA
KANU UCHECHUKWU ONYENAPURUIBEYA
KAREEM SAHEED
KAWU PETO ABDULKAREEM
KAYODE RICHARD
KEHINDE DAVID OLALEYE
KELECHI ANYANWU
KEMI MOMOH
KING PRODUCTS AND SOLUTION LTD
KINGSLEY NWABUEZE KENECHUKWU
KIRPSON OBINNA FC
KOKORIAN JALOGHO JOSEPH AKPO
KOLADE OMONIYI
KOLA-OLALERE ESTHER KIKELOMO
KOLAWOLE JONATHAN FUNSO
KOLE-JAMES IFEOMA
KOMOLAFE ORIYOMI ADEYEMI
KONAC INDUSTRIES LTD
KPEREGBEYI OLA N.
KUFILE YINKA
KUFILE YINKA
KULANDAI SAMY VELANI
KUMBIYA KUMBIYA ADAMU ABDULLAHI
KUPONIYI OLUGBENGA TEMITOPE
KUPONIYI OPEYEMI TEMITOLA
KURFI RABI ADO
KURIOS NIGERIA LTD
KUTI KAYODE
KUTI KAYODE
L.A.PRO-SHARES LTD.
LADIPO KOLA JAMES
LAND OF PLENTY
LA’TEMMAC GLOBAL RESOURCES LTD.
LATIMORE VENTURES
LAWAL ARIYO NURUDEEN
LAWAL FUNMILAYO IGE
LAWAL HYELDA
LAWAL ISIAKA OLATUNDE
LAWAL OMOLOLA O.
LAWAL SILIFAT IYABO
LAWAL WAHEED MOLADE
LAWANI OLUDAMILOLA IBISOMI
LEMORU OLATUNBOSUN O.
LEMORU OLUWAFEMI
LEWIS-ASONYE OBINNA
LIASU QUADRY OLUWASEUN
LIKEMINDS BUSINESS SOLUTION LIMITED
LOGILE IDOWU
LONGE ADETOUN
MACPRINCE ELIJAH A.
MADAKI JOHN YAHAYA
MADU EBUBECHUKWU JOSEPH
MADU EMMANUEL IFEANYI
MADU PATRICK OBUNIKE
MAFIANA CHIEDU FELIX
MAFIMIDIWO ADENIYI BAMIDELE
MAGENTA ASSOCIATES NIG. LTD.
MAHAMUD HAMZA SALIHU
MAHMUD SHEHU
MAIGARI MOHAMMED MODIBBO
MAIMUNA MOHAMMED HARUNA
MAIRO OKHAI
MAJA OLAWALE MURTALA
MAKANJUOLA ADEBISI NURAT
MAKANJUOLA BABATUNDE RAHMON
MAKANJUOLA OLADAPO
MAKINDE AZEEZ ADENIYI
Account
No Name
1009.2678
1010.8040
1011.5674
1012.8694
1013.7230
1014.793
1015.7937
1016.6777
1017.7228
1018.3437
1019.1592
1020.5535
1021.842
1022.2686
1023.8484
1024.1791
1025.1787
1026.1790
1027.1789
1028.1788
1029.7993
1030.2690
1031.4037
1032.6108
1033.5689
1034.4877
1035.4288
1036.2699
1037.2700
1038.796
1039.7995
1040.7235
1041.2704
1042.2708
1043.2709
1044.2711
1045.880
1046.6679
1047.6500
1048.6498
1049.6689
1050.6813
1051.8601
1052.2715
1053.5513
1054.5238
1055.4491
1056.8487
1057.2718
1058.4494
1059.5418
1060.5419
1061.8338
1062.6345
1063.6346
1064.8695
1065.2720
1066.2723
1067.3314
1068.2727
1069.2728
1070.2730
1071.2731
1072.2738
1073.2739
1074.2742
1075.2743
1076.2748
1077.3264
1078.2749
1079.2753
1080.2758
1081.2762
1082.2763
1083.2768
1084.2772
1085.2773
1086.2774
1087.2775
1088.2777
MAKINDE JOSEPHINE TEMITOPE
MALAM SANI HADIZA
MALLAMI BUKAR MOHAMMED
MALOMO FLORENCE IDOWU FOLASHADE
MALOMO OLAYINKA SAMUEL
MAMAH NDUKAH NELSON
MARIMPEX FIN & INVESTMENT 2
MARTINS BABATUNDE OLADIPO (JUSTICE)
MARYMOND INVESTMENTS LTD
MARY’S GROTTO FELLOWSHIP (M.G.F.)
MAXIMUM DATA LIMITED
MAYALEEKE IBRAHIM ADEROGBA
MBACHU EBERECHUKWU PETER
MBADIWE AIRA
MBAEGBU JULIANA CHIKA
MBAGWU ADAEZE NGOZICHUKWU
MBAGWU ADINDU IKEMEFUNA
MBAGWU CHUKWUEMEKA IKEMEFUNA
MBAGWU NWAMAKA NKECHINYERE
MBAGWU UCHENNA FELICIA
MBAHAOTU CHIMA HENRY
MEDUGU ZAKARI JOSHUA
MENE ESTHER USIMEN
MENSHA SAMUEL KWAME
MESELE OLAMIDE OREOLUWA FOLASADE
MESELE OLUFEMI LAWRENCE
METCHO MUHAMMAD UMAR
MGBECHETA SAMUEL NTOMCHUKWU
MGBECHETA STANLEY NNAEZIE
MIBIOLA SIMON
MICHAEL PETER OGHENEORUNO
MIKETONAL GLOBAL CONCEPT LIMITED
MISS AKEREDOLU OMOBOLANLE
MISS OKEOWO MODUPE IBUKUNOLUWA
MISS OKEOWO OLAYINKA OLUWATOYIN
MISS OSINOWO FOLAJOMI OPEOLUWA
MODULOW NIGERIA LIMITED
MOHAMMED BASHARI
MOHAMMED HABIBU SABARI
MOHAMMED HALIDU
MOHAMMED IBRAHIM DOTTIJO
MOHAMMED LAWAN
MOHAMMED MAIMUNA
MOHAMMED SALIU
MOHAMMED SANI FATIMA
MOK EMMANUEL IFEANYI
MOLTEN TRUST LIMITED-DEPOSIT ACCOUNT
MOMOH KABIRU
MONICA A
MORAKINYO OLUWADUROTIMI HEZEKIAH A.
MOSES MICHAEL OSCAR
MOSES TOMBARI B.
MOSURO FOLARIN
MOYO-FALAYI MOFIYINFOLUWA EMMANUEL
MOYO-FALAYI MOFOGOFOLUWA
MPAMAUGO CHIDIEBERE DAVID
MR & MRS AKINDELE FESTUS & OLUREMI
MR ADARUGO OKEZI
MR ADEGBITE SAMUEL IGBAYILOLA
MR ADEMOLU OLUFEMI
MR ADENIYI OLUSEGUN AYODELE
MR ADENUPEBI ADEBAYO CLEMENT
MR ADEOSUN KAYODE LUCAS
MR AGUNBIADE DAWUD ADEBAYO
MR AINA AYOTUNDE AYINDE
MR AKINOLA MARTINS KOLAWOLE
MR AKINYEMI STEPHEN OLATUNJI
MR ANYAELE SAMUEL TIMOTHY
MR AYENI KAYODE
MR BOLAJI JOSEPH DAPO
MR EDU MUZZAMMIL OLUWASIJIBOMI
MR ESSIEN DOMINIC
MR IBIKUNLE AZEEZ OLAYINKA
MR IBITOWA NATHANIEL
MR IGBOANUGO OSITA HYGINUS
MR KOYEJO ADEYEMI
MR LASHORE STEPHEN IBITAYO
MR MADAMIDOLA AYINLA BASHIR
MR MICHAEL PRINCE UGO
MR NKEMERE OBIDIKE CHIMEZIE
Account
No Name
1089.2782
1090.2786
1091.2788
1092.2789
1093.3320
1094.3284
1095.2793
1096.2800
1097.3244
1098.2804
1099.2809
1100.1848
1101.2815
1102.2823
1103.2825
1104.2826
1105.2830
1106.2831
1107.2832
1108.4026
1109.8488
1110.4230
1111.4810
1112.7000
1113.1148
1114.7085
1115.1743
1116.3380
1117.7797
1118.7902
1119.4765
1120.7903
1121.6348
1122.5213
1123.7440
1124.5892
1125.1475
1126.6801
1127.56
1128.7397
1129.3382
1130.5298
1131.3292
1132.631
1133.6352
1134.5235
1135.6112
1136.3376
1137.4018
1138.4248
1139.1422
1140.290
1141.4668
1142.1006
1143.4116
1144.627
1145.4117
1146.632
1147.4118
1148.5669
1149.8686
1150.7832
1151.8053
1152.4136
1153.4717
1154.3347
1155.4771
1156.367
1157.3351
1158.2874
1159.7450
1160.238
1161.5310
1162.5483
1163.8597
1164.4512
1165.4639
1166.5312
1167.4785
1168.1719
MR OGUNLESI FOLA
MR OJENGBEDE ADESINA DAVID
MR OKEOWO GBOLADE OLUSEYI
MR OKI GODDY OGHENESEDE
MR OLANIRAN YAYA ADISA & MRS OLANIRAN REGINA MONILOLA
MR OLUMARTINS KAYODE
MR OLUYEMI OLAWALE DAVID
MR SHAIBU SULEIMAN
MR SULAIMAN TASIU KOLAWOLE
MR UMUKORO UFUOMA EDIRI
MR/MRS DATONG ISHAKU/COMFORT
MRS ABERE REMILEKUN
MRS AGBEDAHUNSI ANNE ABIMBOLA
MRS JOHNSON FADERERA OLUREMI
MRS OGUNLESI ELIZABETH
MRS OKEOWO MODUPE ABIOLA
MRS OLOPADE CATHERINE
MRS ORIOLA EUNICE ADUKE
MRS OWOLABI ROSAMOND IBIRONKE
MUDASHIRU WAIDI KAYODE
MUHAMMAD IBRAHIM ALHAJI
MUHAMMAD TIJJANI
MUHAMMED FATIMA.
MUHAMMED RAHMATU
MUILI FAOSAT ADETUTU
MUOBIKE NGOZI FIDELIA
MUODUMOGU CHINWE ANTHONIA
MUOGHALU OBIORA NONSO
MUSA AHMED BABANGIDA
MUSA BABATUNDE AHMED
MUSA YERIMA BELLO
MUSA YEWANDE HALIMAT
MUSA YUSUF ALIYU
MUSTAPHA ABDULLAHI TAGOJE
MUSTAPHA AUDU
MUSTAPHA NURENI OLAIYA
MUSTAPHA OLAREWAJU SHITTU
MUSTAPHA RILWAN OLADIMEJI
NDALOLO AMINAT
NDUKA NWADIKE ABEL
NDUKWE GODWIN CHIBUEZE
NDUKWU ANNA KATE
NEXT INTER’L LTD.
NGWABA (DR) MAURICE CHIKE
NIGERIAN INTER. SEC-TRADED-STOCK-A/C
NJEPU AUGUSTINE NNAEDOZIE
NJOKU EUNICE CHIOMA
NKACHUKWU OZOEMENAM EMMANUEL
NNAEBUE CHINWENDU EDITH
NNAMANI STANLEY OKONKWO
NOFSON NIGERIA LIMITED
NORTH CENTRAL
NTUI IYA
NURUDEEN-AHMED MUSILIU ALABA
NWACHUKWU BENSON OKEYCHUKWU
NWACHUKWU CHINELO NGOZI
NWACHUKWU JUDE CHIBUZOR
NWACHUKWU NKECHI ENYIDIYA
NWAEME TEMITOPE OWOWUNMI
NWAFOR FRANCISCA CHIDALU
NWAFOR OMOYEMI ADERIKE
NWAFOR PETER JACOB
NWAGBALI MICHAEL CHIBUZO
NWAGBO EMMANUEL E.
NWAGUGU BASIL OKUBASAR
NWAIGBO ONYEBUCHI
NWAIWU CHIMAOBI UCHECHUKWU
NWAKOGO PATRICK EKENE
NWAKUDO ANAYO STANLEY
NWANERI CHINOMSO VICTORIA
NWANKWO OBINNA CHARLES
NWANKWO OKECHUKWU JEREMIAH
NWAOBI UWADIMEGWU
NWAOHA CHINEDU ANGELA
NWAOKACHA EMMANUEL
NWEKE DAMIAN OKECHUKWU
NWEKE GRACE OBIAGELI
NWEKE MADUKA JAMES
NWEZE EMMANUEL
NWIGWE MARIA ONYEMA
Account
No Name
1169.5652
1170.7956
1171.7786
1172.1720
1173.6115
1174.5574
1175.5819
1176.6116
1177.6494
1178.4635
1179.5315
1180.8305
1181.7774
1182.7754
1183.8496
1184.5317
1185.8323
1186.7921
1187.5319
1188.6586
1189.8311
1190.5320
1191.6662
1192.1268
1193.4546
1194.3277
1195.5323
1196.4109
1197.4540
1198.350
1199.6107
1200.8701
1201.4096
1202.8313
1203.5326
1204.59
1205.6164
1206.8502
1207.8702
1208.6939
1209.8314
1210.2901
1211.4100
1212.2905
1213.577
1214.4097
1215.8503
1216.8602
1217.2909
1218.6585
1219.7715
1220.7122
1221.5825
1222.5446
1223.2914
1224.5389
1225.6359
1226.6587
1227.2915
1228.2916
1229.6360
1230.4098
1231.63
1232.6155
1233.2921
1234.1013
1235.4132
1236.6154
1237.7430
1238.6143
1239.564
1240.6873
1241.7435
1242.1723
1243.7666
1244.7899
1245.6846
1246.160
1247.4224
1248.2930
NWOBA EMMANUEL NWACHUKWU
NWODOH IKECHUKWU LIVINUS
NWOKEAFOR MICHAEL CHILEZIE
NWOKOCHA GEORGE
NWOKOLO STELLA
NWORAH ARINZE KINGSLEY
NWORDU MARTINA ENUMA
NWOSE THOMPSON CHUKWUDI
NWOSU AZUKA PEACE
NWOSU CATHERINE
NWOSU CHIJIOKE JUSTIN
NWOSU CHIKODI
NWOSUOCHA PATRICK ONYEMA
NWOYE EUNICE UCHE
NZEWUIHE IKECHUKWU KELECHI
OBA NWAKAEGO AGATHA
OBABOLUJO ABAYOMI
OBAFEMI O. OLANREWAJU KAYODE
OBAKOYA OLUFEMI OLUSEYI
OBANOYEN NUSI OLADUNNI
OBASANYA JOSEPHINE KEHINDE
OBASEKI JEREMIAH
OBASI ROYAL OBIOMA
OBEMBE OLAWALE
OBI CHUKWUMA JASPER
OBI NDIBE
OBI VIVIAN ADA
OBIAGWU SAMUEL CHUKWUMA
OBIAHU JOHN ARUA
OBIAKOR DENIS
OBIDIGBO SUNDAY SAMUEL
OBIECHINA ZITA CHIOMA
OBIKWERE JOY JUSTINA
OBIOHA CHIGOZIE INNOCENT
OBIORA EDWARD OBINNA
OBIORA IBE
OBIRE E. GLORY
OBISANYA FUNMILAYO OMOLARA
OCHAYI ELIZABETH EHIKOWOICHO
ODE FOLASHADE
ODEGBAMI HARRISON OLADELE
ODEGBAMI OLUWATOYIN ODEGBAMI IFEOLUWA & OTHERS (ADMORS TO THE ESTATE OF ODEGBAMI OLATUNJI ABIODUN )
ODEJIMI OLUTOSIN
ODIELIH CHUKWUDI CHINEDUM
ODIETE UDUMA JUSTINA
ODINDE DUKE CHUKUDI
ODIONYE AMARACHI
ODOGE EMMANUEL OMALE
ODOH ROBERT IHEANYICHUKWU
ODUGBESAN IBUKUN SONAIKE
ODUKOYA ABAYOMI
ODUKOYA OLALEKAN YESIRU
ODUMESI JOHN OLAYEMI
ODUNAIKE OLADAYO OLUFUNMI
ODUNAIYA OMOYOSOLA
ODUNLAMI SAMSON ADENIYI
ODUNTAN LANRE HASSAN
ODUNUGA OLUKEMI AFOLASADE
ODURUKWE FINECOUNTRY E. U.
ODURUKWE OLUWATOSIN ESTHER
ODUSANYA ODUFUNMILAYO OLUWAKEMI
ODUSANYA OLUFUNMILAYO ADESHOLA
ODUSANYA RUFUS OLUKAYODE
ODUSINA OLAYINKA S
ODUTOLA ADELANA
ODUTOLA OLUFUNKE
ODUYEBO NURUDEEN ALOWONLE
ODUYIGA JOSHUA KOLAWOLE
OFFEH BLESSING
OFFOR ANGELA IFEYINWA
OFI AYODELE OLUFEMI
OFILI ONYEKA UCHE
OFOMATA NKEMJIKA GLADYS
OFO-MUOGBO EDNAH ADAOBI ODUMCHEFU
OFOR ODINAKA BRIGHT
OFOR ODINAKA BRIGHT
OFUOKWU CHUKWUDI JOHN
OGBEIDE BERNADETTE
OGBENI KINSLEY I.
OGBONNIA-OKOYE ARINZE
Account
No Name
1249.4772
1250.3427
1251.65
1252.6148
1253.5279
1254.4548
1255.5299
1256.4122
1257.4734
1258.4725
1259.4114
1260.5342
1261.182
1262.66
1263.5665
1264.7858
1265.4112
1266.5834
1267.5302
1268.6780
1269.8706
1270.1622
1271.4551
1272.5300
1273.252
1274.964
1275.3321
1276.6935
1277.4213
1278.6153
1279.5454
1280.5295
1281.5286
1282.2951
1283.2952
1284.5283
1285.1169
1286.3873
1287.6936
1288.4566
1289.2957
1290.1241
1291.8205
1292.8509
1293.6823
1294.7048
1295.2962
1296.6367
1297.2969
1298.2975
1299.2977
1300.7438
1301.2982
1302.4565
1303.8512
1304.6938
1305.2985
1306.5108
1307.2986
1308.1173
1309.4679
1310.5618
1311.5788
1312.5745
1313.8336
1314.3862
1315.6481
1316.4036
1317.3861
1318.6608
1319.3374
1320.7460
1321.7891
1322.7966
1323.5803
1324.3901
1325.3000
1326.6942
1327.151
1328.6161
OGBUEHI IHEANYI O.
OGBUJIEZE ANSLEM-ZIXTON OKECHUKWU
OGEDENGBE MICHAEL FOLORUNSHO
OGHALI CHUKWUKA CHUKS
OGIDIOLU ADEGBENRO
OGIDIOLU ADEKANMI
OGIDIOLU ADEKANMI
OGIEVA VINCENT SUNDAY
OGIKE CHIBUZO J.
OGIKE TOCHI XAVIER
OGINNI AYODELE NATHANIEL
OGINNI OLUWASEUN & FAMUBO O.
OGINNI OLUWATOYIN AJAO
OGODO MICHEAL
OGU AMARACHUKWU FIDELIS
OGUADINMA EMMANUEL ONUDINACHUKWU
OGUEZUMA JACK DONATUS
OGUNBADEJO ABOSEDE ADETOUN
OGUNBADEJO BUKOLA ADIJAT
OGUNBANJO OLUFISAN ADEMOLA
OGUNBANJO OLUWAGBEMISOLA ADEDIWURA
OGUNBIYI ADESOJI
OGUNBUKOLA MATTHEW OLUSEGUN
OGUNDELE OLUBUNMI ADEJOKE
OGUNDERO IYABOSOLA
OGUNDERO OLUFOLAKE
OGUNDERO OLUMIDE ADEMOLA
OGUNDIMU GABRIEL OLASENI
OGUNGBE JIJOHO AYOSUNMOLE
OGUNGBESAN DARE EMMANUEL
OGUNGBESAN OLUWAFEMI SAMUEL
OGUNJIMI ALABI LOOKMAN
OGUNJIMI TENIOLA
OGUNKO TOLUTOPE BRENDA
OGUNKOYA OLUSANYA TAIWO
OGUNLEYE ABODUNRIN CATHERINE
OGUNLEYE TOSIN
OGUNNUBI ROBERTS
OGUNREMI ABIGEAL ANIKE
OGUNSOLU ALEXANDER OLUYEMI
OGUNTIMEHIN JOHN OLAWALE
OGUNTOYINBO OLAMIDE MICHAEL
OGUNWOYE SILAS MAYOWA
OHAKWE CHINEDU FIDEL
OHAZURUME SUNDAY MICHAEL
OHUNENESE JOHN
OIGBOCHIE LARRY
OJEI FAITH NGOZI
OJELEYE BOLANLE ADEJOKE
OJO ADEPEJU ADEBISI
OJO BLESSING OMOTAYO
OJO EMMANUEL OLUYINKA
OJO FRANCIS
OJO MICHEAL AKINWALE
OJO ROTIMI RIYELE
OJO SUNDAY OLUWABAMISE
OJOAGO OGUCHE
OJOMO OLAYIWOLA JOLADE
OJONIMI ANEDU
OJOSIPE ADEDAYO BABATUNDE
OKAFOR CHRISTOPHER CHINAKA
OKAFOR EDWIN EMEKA
OKAFOR OFILI CHARLES
OKALI OBINNA NDUBUISI
OKANLAWON OLUFUNKE ABOSEDE
OKANLAWON TAIWO USMAN
OKE OLUWOLE (HONOURABLE)
OKEAGU CHIJIOKE
OKEBUGWU CHRISTIAN NNAMDI
OKECHUKWU IZUNNA ABEL
OKECHUKWU JANET AMAKA
OKEDARA OLATUNDE
OKEKE EMMANUEL IKECHUKWU
OKEKE EMMANUEL UCHENNA
OKEKE PIUS JOHNSON O.
OKEKE SCHOLASTICA N
OKEOWO OLAJUMOKE OWUNOLUWA
OKEREKE AYAH
OKEREKE-ONYUIKE NDI (PROF)
OKESANYA SAIDAT ABIODUN
Account
No Name
1329.8210
1330.6606
1331.3898
1332.7798
1333.8252
1334.6371
1335.5602
1336.3377
1337.3897
1338.5463
1339.3012
1340.3257
1341.6943
1342.3013
1343.6033
1344.6786
1345.4609
1346.5612
1347.8516
1348.6373
1349.8215
1350.586
1351.5631
1352.4610
1353.6604
1354.3402
1355.5407
1356.8218
1357.8517
1358.3019
1359.8519
1360.7973
1361.4249
1362.7975
1363.3021
1364.363
1365.8523
1366.8524
1367.8525
1368.5095
1369.3891
1370.894
1371.8720
1372.5443
1373.8527
1374.5606
1375.8529
1376.6601
1377.4146
1378.6379
1379.4145
1380.4179
1381.3031
1382.6188
1383.4528
1384.4203
1385.5126
1386.882
1387.5125
1388.5453
1389.3886
1390.4200
1391.5113
1392.4199
1393.5617
1394.7075
1395.6993
1396.68
1397.3858
1398.5667
1399.3824
1400.6790
1401.7005
1402.241
1403.8193
1404.8533
1405.6179
1406.3869
1407.1146
1408.6945
OKESON PAUL NWORA
OKI HAMZAT DAMILOLA
OKOAKIH AWELE ABISOLA
OKOCHA CHRISTIAN CHUKWUELOKE
OKOCHA CHRISTIAN CHUKWUELOKE
OKOEGUALE ELOMHENSEBHOR GLADYS
OKOGWU JOSEPH NWABUAKU
OKOLI CHINEDU FRANCISCA
OKOLOKO EBRUBA JOHN
OKON CLEMENT EFFIONG
OKON EDIDIONG RACHAEL
OKON IDORENYIN ANDREW
OKON INNOCENT ETIM
OKON JEREMIAH
OKONKWO ABUMCHUKWU
OKONKWO FRANCIS OBALUM
OKONKWO IFEYINWA PROSPER
OKONKWO IFEYINWA PROSPER
OKONKWO IKECHUKWU CHUKWUEMEKA
OKONKWO LINUS ODINAKA
OKONKWO PRINCEMARIO AZUBIKE
OKORIE ANSELM
OKORIE BENJAMIN
OKORIE JOHNSON EZINWANNE
OKORIENTA MADUABUCHI STEPHEN
OKORO AUGUSTINE EZE
OKORO SAMUEL UGOCHUKWU
OKOROAFOR CHIKE SOPURUCHI
OKOROZE EDHEKA JOSHUA
OKOYE AMAKA STELLA C/O NWAGBO J.
OKOYE COSMOS AKACHUKWU
OKOYE COSMOS PATRICK
OKOYE IFEANACHO KIZITO
OKPALA JOHN CHUKWUEMEKA
OKPALA OBIJEKWU E
OKPALAOKA CHUKWUEMEKA NKEMAKONAM
OKPARA OBIOMA IKECHUKWU
OKPARA SUSAN CHIGOROM
OKPARAJI PETER REVERAND
OKPE UCHENNA MARTIN
OKPETUE CHUKWUDI
OKUDOLO TOLULOPE
OKUNGADE MOROLAYO ABIKE
OKUNLOLA RACHEL ARINOLA
OKWARA HADASSAH NGOZI
OKWUACHI BEN-BENSON NWAZE
OKWUOSA CHUKWUNOSO
OLABODE FUNMILOLA
OLADAPO OLANIYI JOSHUA
OLADAPO OLUWASEUN TEMITOPE
OLADELE AKEEM OLATUNBOSUN
OLADELE BISOLA YEMISI 2
OLADELE OLORUNFEMI THEOPHILUS
OLADEPO MONSURAT BOLAJI
OLADIMEJI MERCY
OLADIMEJI RILWAN ATANDA
OLADIPO IBRAHIM OLANREWAJU
OLADIPO MATINA AJIBADE
OLADIPO MUSBAU OLAYIWOLA
OLADIPO OLUFEMI GABRIEL
OLADIPUPO JOHNSON KAYODE
OLAIYA ABIOLA ELIZABETH
OLAJIDE AZEEZ
OLAJIDE KOLE
OLAJIDE NOAH ROTIMI
OLAJIDE OLAWALE SAMUEL
OLAJIDE PRINCESS OPEYEMI
OLAJUMOKE MOLADE
OLALEMI OLUWASEUN JOSHUA
OLALEYE EMMANUEL KOKUMO
OLALEYE WURAOLA
OLAMIDE OLUWATOMIWA DAVID
OLAMIDE OLUWATOMIWA DAVID
OLAMIDE SHONEKAN
OLANIPEKUN ADEBOLA OLAYEMI
OLANIYAN ABDULRASAQ ALIYU
OLANIYAN ADEMOLA ADELODUN
OLANIYAN ADEREMI
OLANIYAN OLUWASEYI OLUWATOYIN
OLANREWAJU AKEEM
Account
No Name
1409.3833
1410.8668
1411.3043
1412.3044
1413.6032
1414.3048
1415.810
1416.4150
1417.6077
1418.6045
1419.3249
1420.8669
1421.5568
1422.6382
1423.3828
1424.4533
1425.3815
1426.6046
1427.7088
1428.3310
1429.7991
1430.5131
1431.71
1432.1424
1433.3065
1434.8670
1435.1368
1436.1369
1437.8536
1438.6791
1439.6946
1440.6466
1441.4536
1442.3067
1443.6947
1444.8537
1445.6792
1446.693
1447.3819
1448.811
1449.5581
1450.4185
1451.5624
1452.3456
1453.3461
1454.5065
1455.814
1456.8606
1457.8327
1458.74
1459.6484
1460.6756
1461.6745
1462.7890
1463.5367
1464.5062
1465.8539
1466.6043
1467.4439
1468.3400
1469.3091
1470.3435
1471.3856
1472.3416
1473.6041
1474.5061
1475.5060
1476.6386
1477.1491
1478.5059
1479.6013
1480.8599
1481.8600
1482.296
1483.6899
1484.3109
1485.5058
1486.3113
1487.3114
1488.8191
OLANREWAJU OLUGBENGA SEUN
OLANREWAJU ORITOMI
OLANREWAJU SHEKONI
OLAOJO BABATUNDE FEMI
OLAOYE REUBEN AYOTUNDE
OLAREWAJU OLAKUNLE YEMI
OLARINDE ADETAYO RAHMAN
OLASENI OLUWATOSIN SOLA
OLATERU FOLASHADE ENITAN
OLATERU OLUWASEYE SAMSON MAYOWA
OLATUNBODE ADEDAYO
OLATUNJI FEMI
OLATUNJI OLUSOGO TUNDE
OLAWALE ISAAC WALE-AWE
OLAWALE OLALEKAN TAIWO
OLAWEPO MATTHEW KUNLE
OLAWUYI OLUSEGUN MICHAEL
OLAYANJU TUNDE TIMOTHY
OLAYINKA JANET FADEKE
OLAYINKA OLANIPEKUN M.
OLIKAGU CHIBUEZE ANTHONY
OLISA CHIGOZIE SAMUEL
OLOKETUYI OLANIYI SEGUN
OLORUNFEMI OLUSEGUN
OLORUNFEMI OLUSIMBO
OLORUNNISOLA JOHN ADEKANMI
OLORUNSUYI KHAFILAT
OLORUNSUYI OPEMIPO
OLORUNTOBA OLUSHOLA FOLORUNSHO
OLORUNTOLA EDWARD TOKUNBO
OLORUNTOLA FUNMILAYO FAUSAT
OLOWOGORIOYE VICTOR
OLOWOJOLU CHRIS ADEBAYO
OLOWO-OKERE MOPELOLA OMOYENI
OLOWOOKERE TAWAKALITU A
OLOWOSUKO OLUBUSOLA OMOWAARE
OLOYEDE ADELOLA JOHN
OLUBA JUDE CHUKWUEMEKA
OLUBAJO TEMITOPE OLUTOTIN
OLUBODE DEJI
OLUBORI OLUBUNMI OLUWASEUN
OLUBUNMI BABATUNDE GBADEBO
OLUDOTUN KOLAWOLE TIMOTHY
OLUMEKO DESTINY OLANIYI
OLUNIYI OLAWUMI OLANIYI
OLUNOWO KOFOWOROLA AMUDAT
OLUOKUN AYO
OLURODE ADELAYO SHERIFAT
OLUSEGUN OLAWALE OLUDARE
OLUSOLA OMOTAYO
OLU-TIMA TAMUNO OLUMIDE
OLUWABIYI INIOLUWA WHITNEY
OLUWABIYI OLUWAFUNMILAYO OPEYEMI
OLUWAGBEMIGUN ADENIKE ELIZABETH
OLUWARANTI ADEDUNMOLA OLUWASEUN
OLUWUNMI IFEOLUWA ELIZABETH
OLUYADE JANET ADEYINKA
OLUYORI OLUWAGBEMI DAVID
OMAKA EMMANUEL N.
OMEDE GLADYS
OMETORUWA IMUETINYAN IGHIWIYISI
OMIRINLEWO JONATHAN OLUWASEUN
OMIWOLE OLUSEGUN
OMOBUDE UWA
OMOEGUN SUNDAY OLUWOLE
OMOJADEGBE FRANCIS WOLE
OMOKHAFE OMOAREGBA JOSEPH
OMOKHUA AUSTIN
OMOKIDE KAMILU
OMONIYI SHERIFAT OLUWAFUNMILAYO
OMONUA PETER
OMOREGIE EFOSA
OMOREGIE OSAMUDIAMEN
OMOROTIONMWAN MC JOSE
OMOSANYA OLUFEMI SODIQ
OMOTARA OLUFEMI
OMOTAYO JOHN
OMOTESO MOFIYINFOLUWA OMOTAYO
OMOTESO OMOLOLU OMOLOLA
OMOTOSHO FATHIA ABIOLA
Account
No Name
1489.8192
1490.6667
1491.1494
1492.8543
1493.3117
1494.227
1495.6387
1496.5066
1497.75
1498.890
1499.6016
1500.6580
1501.4147
1502.3123
1503.5793
1504.3250
1505.4608
1506.6019
1507.3846
1508.8545
1509.4710
1510.3126
1511.3127
1512.1114
1513.6393
1514.8546
1515.7950
1516.4607
1517.3131
1518.1774
1519.698
1520.6926
1521.817
1522.5620
1523.4615
1524.5594
1525.3134
1526.6024
1527.3842
1528.3136
1529.3137
1530.3140
1531.3141
1532.3142
1533.3144
1534.5087
1535.3841
1536.7128
1537.6933
1538.1768
1539.5496
1540.6026
1541.6027
1542.6028
1543.6029
1544.8354
1545.3148
1546.5845
1547.1279
1548.3150
1549.5084
1550.1468
1551.6619
1552.8676
1553.7843
1554.6087
1555.4153
1556.192
1557.4692
1558.6640
1559.3158
1560.4673
1561.6860
1562.5794
1563.4741
1564.6398
1565.7451
1566.4572
1567.6752
1568.3969
OMOTOYE OYENIRAN ADEWALE
OMOYELE OLABAMBO
ONABAJO LILY OLUBUKOLA
ONABAJO OLUWASEUN EMMANUEL
ONABOWALE OLADIPO
ONAGORUWA OBAFEMI ONARIKE
ONAH STANLEY CHIDIMMA
ONATADE ELIZABETH TOSIN
ONI BABATUNDE
ONI FUNMILAYO TEMITOPE
ONI MOSOBALAJE YUSUFF
ONI OLUGBENGA OLAKITAN
ONI OLUWASEUN ISAAC
ONIFADE BABATUNDE BIYI
ONIOVO JOSIAH
ONIRU TIJANI
ONOCHIE ESTHER IJEOMA
ONOMASE OZIEOGHEKET CHRIS
ONOWUGBEDA JOSEPH
ONU LETICIA IFEYINWA
ONU PAUL CHIDIEBERE
ONUEGBU GODWIN
ONUMA KALU KALU
ONUMAJURU AUGUSTINE ONYEKACHI
ONUNWA OLUCHI GIFT
ONUOHA DORATHY AMUCHE
ONUOHA NGOZI THERESA
ONUORAH NKIRU NKECHI
ONWUAKPA CHIBUGOM CHIEMERIE
ONWUBIKO UCHENNA KINGSLEY
ONWUCHURUBA OKECHUKWU THEOPHILUS
ONWUDIANTI EMENIKE
ONWUDIWE JANET AJUMA
ONWUKA CHINEDU CHRISTOPHER
ONYEBUCHI JUSTINA NNENNA
ONYEBUCHI JUSTINA NNENNA
ONYECHE CHIOMA CHINEDU
ONYEGBULE UZOMA
ONYEJELEM HENRY ONYINYE
ONYEJIAKA CAROL NNEOMA
ONYEJIAKA CHIBUZO
ONYEJIAKA DEBORA
ONYEJIAKA DESTINY
ONYEJIAKA EKEOMA
ONYEJIAKA OKEY
ONYEKE SUNDAY
ONYEMA SUNNY AZUBUIKE
ONYEMAOBI CHINYERE PATIENCE
ONYEMATA CHARLES ENYINNAYA
ONYIA CHUKWUBUIKEM
ONYUTE ADAM FELIX
OPADIRAN DANIEL ADEFEMI
OPADIRAN ISAAC OLUFISAYO
OPADIRAN MARY OLAMIDE
OPADIRAN OLADAPO OLAOLUWA
OPARA CHIMA JOSIAH
OPARA GERTRUDE EBERECHUKWU
OPARA KENNETH & OLUCHI (MR & MRS)
OPEGBEMI SAAC OLUWASANMI
OPURUM DANIEL CHIBUEZE
OPURUM GODFREY N.
ORAELOSI BENSON
OREKOYA ROBO
ORELUSI ISOLA
ORIADETU ADEKUNLE ISMAIL
ORIDUN CAPITAL MANAGEMENT
ORIMOLADE EMMANUEL OLUMIDE
ORIOKE ODUN DUNNI
ORJI OLUOMACHI
ORJINTA NGOZI QUEENY
OROGE GLORIA URUEMU
OROGUN LUCKY KELVIN
ORTESE BENJAMIN O.
OSAGHAE OSASOGIE
OSAGIE KIZITO
OSAGIEDE BRIGHT
OSAKUE JOHN EVBAKHAVBOKEN
OSAMEYAN OLUFEMI MOYINOLUWA
OSANYIN OLATUNDUN
OSANYINLUSI GEORGE EGBEBI
51
Account
No Name
1569.5420
1570.3401
1571.6753
1572.6078
1573.4442
1574.8244
1575.3164
1576.5079
1577.5078
1578.6968
1579.5077
1580.1282
1581.5134
1582.5643
1583.1697
1584.5360
1585.8598
1586.6079
1587.8326
1588.6399
1589.8249
1590.3364
1591.3950
1592.8260
1593.3176
1594.6082
1595.6083
1596.5185
1597.3180
1598.5359
1599.6478
1600.5797
1601.5431
1602.5733
1603.5184
1604.1152
1605.1154
1606.8253
1607.3954
1608.4418
1609.6097
1610.6086
1611.5183
1612.3953
1613.4428
1614.5590
1615.7449
1616.6757
1617.5651
1618.7847
1619.5366
1620.6089
1621.1999
1622.929
1623.2000
1624.2001
1625.5650
1626.2003
1627.8555
1628.7002
1629.7149
1630.285
1631.8556
1632.5751
1633.2009
1634.8680
1635.80
1636.7259
1637.5180
1638.3317
1639.7952
1640.4582
1641.2014
1642.6404
1643.2015
1644.821
1645.2017
1646.822
1647.3269
1648.5178
52
OSARO EDEE JOHN
OSAWOTA LUCKY
OSENI HAKEEM OLANSILE
OSHIKOYA OLUDIYA
OSHIN ADESOLA AYINKE
OSHIOKHAMELE EMMANUEL OSHOBUGIE
OSHO DOLAPO OPEYEMI
OSHO IDAYAT ARIKE
OSHO OLADEHINDE T.
OSHO OLUWAFEMI OLUWASEUN
OSHO TAIRAT OMOWALE
OSHOJAH HARRIS SUNDAY
OSHOJAH VICTOR
OSO CLEMENT OLADIPUPO
OSO OLUWASOLABOMI MODUPE
OSUNFISAN OSUNFUYI VINCENT
OTABOR IVIE ROSE GODWIN
OTAIGHO BENJAMIN OGHENETEGOR
OTELE ABIOLA CHARLES
OTI STEPHEN OBIOHA CHUKWUEMEKA
OTIONO ELLA
OTOBO ODEZI FIDELIS
OTOH PAUL NGOZI
OTOLO YEMISI ESTHER
OTU PROMISE
OTU SOLOMON GODDIVINE
OTU VICTORY ABASIAKA
OTUFOWORA NOJEEM ADEBAYO
OTUYALO ADETUTU
OTUYEMI VICTOR ADEBAYO
OUT FINNER MOSES
OVIAWE OMOROGBE FRIDAY
OWA OLATUNDE SAMUEL
OWADUGE MARIAN ADENIKE
OWEH SUNDAY
OWO NNAMDI OKWUDILI CHUKWU
OWO OSEYEMI MARY
OWOLABI ABIOLA OLUBANKE
OWOLABI ENOCH AYOBAMI
OWOLABI KEHINDE KABIR
OWOLABI OLUFUNKE RASIDAT
OWOLABI OLUKUNLE ROTIMI
OWOLABI OLUMUYIWA OLUWOLE
OWOLABI SEGUN KAYODE
OWOLABI TAIWO ADEMOLA
OYADIRAN SAMUEL MAYOWA
OYEBODE ADEMOLA VICTOR
OYEDELE ABDULAZEEZ ADEMOLA TAIWO
OYEDIRAN HAKEEM MAKANJUOLA
OYEDOTUN JELIL SHINA
OYEGUNLE FUNKE AINA
OYEKANMI TEMITAYO ABOSEDE
OYELADE ABDULFATAI OLUWASHINA
OYELOWO MATHEW OLANIYI
OYENEKAN OLAJUMOKE DORCAS
OYENIYI TAIWO HASSAN
OYENUGA ADETOMI B
OYEWUMI AJIBIKE FADEKEMI
OYEYEMI ANITA TESSY
OYIBOKA EDITH NDIDI
OZEH CHRISTIAN SUNDAY
OZIGBO VALENTINE CHINETO
OZIGI VICTORIA ASIPITA
OZOKA UCHECHUKWU THERESA
OZONZEADI CHINWENDU MONICA
OZOYA ESIGIE GREG
PALMER KENNEDY
PANCHIRI FRANCIS MEDU
PANTELERIA LIMITED
PAPAI-AGUSTO&COMPANY LTD
PARTRICK ROSE ZIRRA
PATRICK LUCKY AYEBANUA
PATRICK NWACHI EHIOMA LAURETTA
PDC GLOBAL SERVICES
PEACEFORT INVESTMENT LTD
PENDER - OBODO KIKI OKIREMETU
PHIDO LILIAN IDEM
PINEFIELD INVESTMENT SERVICE
PLURAL LTD
POPOOLA AMOS KEHINDE
Account
No Name
1649.6094
1650.877
1651.824
1652.1286
1653.6744
1654.5885
1655.2025
1656.6407
1657.5173
1658.3979
1659.3308
1660.4298
1661.8060
1662.5460
1663.83
1664.4752
1665.1576
1666.8013
1667.5781
1668.4766
1669.3978
1670.6063
1671.4221
1672.3329
1673.7215
1674.7866
1675.4798
1676.4654
1677.4655
1678.6763
1679.7414
1680.5198
1681.3977
1682.8683
1683.5545
1684.6413
1685.6834
1686.7067
1687.2048
1688.6525
1689.2049
1690.6414
1691.85
1692.2052
1693.3276
1694.6893
1695.8559
1696.3924
1697.3923
1698.5204
1699.1047
1700.5202
1701.8560
1702.3920
1703.177
1704.3919
1705.4192
1706.7216
1707.7217
1708.1783
1709.5209
1710.3208
1711.7806
1712.88
1713.5595
1714.4223
1715.8563
1716.6528
1717.3305
1718.6885
1719.6057
1720.7791
1721.4166
1722.3253
1723.8250
1724.8225
1725.4168
1726.171
1727.8226
1728.8587
POPOOLA OLUBUSOLA EMILY
POPOOLA OLUFUNSO
POPOOLA ROTIMI
PROPERTY AND PECUNIARY INS BROKERS
RABIU GBOLAGADE TIRIMISIYU
RAIMI AJOKE MONSURAT
RAJI MOMOHJIMOH ANAKOBE
REWANE OMAJOLONE ARAYUWA
ROBERT BELEMA FREDERICK
RUFUS OLUSEGUN TEMIDAYO
RUTH WASA
SA’AD ABDUL ZAKIRAI
SAAD SAGAGI ABUBAKAR
SABITU ADEYEMI ISHAQ
SAB-KON SERVICES
SADIKU ABAYOMI AHMED
SADIQ BASHIR ABUBAKAR
SADIQ OYIZA KHADIJAT
SAFI MOHAMMED
SAHIRU ABDULAZIZ HASKE
SALAMI ADESOLA SURAJUDEEN
SALAMI BASIRAT ABIMBOLA
SALAMI ESTHER BUKKY OLABISI
SALAU BABATUNDE TAJUDEEN
SALAU OLUFUNMILAYO IBIDUN
SALIHU AHMED ABDULLAHI
SALISU IDRIS MAKAMAN DANMADAMI
SALISU KHADUJAT IDRIS
SALISU ZAINULABIDEEN
SALIU ABDULFATAI BAMIDELE
SALIU IBRAHIM OSIKEAMHE
SALIU OLAWALE OLANREWAJU
SALIU OLUSEGUN SAHEED A.
SAMUEL PEDRO
SANFEL INVESTMENT LIMITED
SANI IBRAHIM
SANI MOHAMMED BELLO
SANI NASIRU ALIERO
SANNI DELE
SANNI IBRAHIM OMOTAYO
SANNI TOYIN FOLASHADE
SANTRUST SECURITIES LTD-DEP A/C
SANUSI JOSEPH OLADELE
SCHOOL KITS LIMITED
SCHUBBS NIGERIA LIMITED
SEED MEDIA LIMITED
SEGUNMARU OLUWAFEMI ISMAIL
SHABAYO FOLAKEMI
SHADA TOLULOPE
SHAIBU OHIARE MICHAEL
SHALLYBROS TELECOMS LIMITED
SHEILE ESTHER ABOSEDE
SHITTU OLALEKAN
SHOBAYO OLAKUNLE STEPHEN
SHODEINDE AYODEJI UZENAT
SHODIPO IDOWU NIYI
SHODUNKE OLUSOLA
SHOEWU ADEBIMPE
SHOEWU OLUWARANTI
SHOMOYE OLUBUKOLA MOJISOLA
SHONEKAN OLAMIDE
SHONIBARE ADEMOLA ABRAHAM
SHONUGA DAVID OYEDELE
SHOTUNDE OMOLARA
SHUAIBU AMINU
SIBANI CLIFFORD MEESUA
SIDI ISHATU IDRIS
SIJUOLA RASAQ AJIBOLA
SMARTCITY RESORTS PLC
SOBO OLUWADARE OLABAMIJI
SOBOWALE KOLA
SODIMU OLAWALE IBUKUNOLU
SODIMU OYENIYI OLUWASEUN
SOFELA ADEBOLA EMMANUEL
SOKUNLE RAUFU OLAWALE
SOLID FOUNDATION CHILDREN SCHOOL
SONAIKE IFAMAJENTE SEUN
SONOIKI OLUSEYE ABODUNRIN
SONUGA TOLULOPE BUSAYO
SORONNADI MALACHY
Account
No Name
1729.91
1730.3220
1731.5347
1732.1454
1733.3222
1734.3494
1735.7470
1736.4697
1737.7220
1738.3322
1739.5150
1740.8046
1741.6060
1742.3916
1743.5459
1744.3947
1745.2063
1746.92
1747.5402
1748.1195
1749.5607
1750.562
1751.3945
1752.2068
1753.5810
1754.2070
1755.93
1756.3254
1757.7889
1758.6982
1759.2072
1760.7951
1761.6539
1762.6054
1763.2075
1764.5668
1765.5871
1766.2076
1767.855
1768.856
1769.4694
1770.7221
1771.8569
1772.5151
1773.2083
1774.3298
1775.223
1776.1397
1777.7908
1778.5139
1779.7155
1780.6817
1781.5656
1782.8348
1783.2114
1784.7979
1785.4454
1786.2115
1787.8571
1788.5836
1789.3931
1790.7875
1791.1186
1792.1189
1793.1185
1794.1187
1795.1191
1796.1188
1797.571
1798.6669
1799.6470
1800.8236
1801.6427
1802.4651
1803.4666
1804.2123
1805.8572
1806.5771
1807.2127
1808.6428
SOSAN ABIODUN NIGEL
SOWOLE MOBOLAJI OLAONIPEKUN
SOYEMI IBUKUNOLUWA SARAH
SOYODE KIKELOLA OJUOLAPE
SSUA INVEST. CO. LTD.
STEPHEN ROPO ASALA
STSL WEALTH MGT SPECIAL A/C
SULE EMMANUEL JNR
SUNMONU TEMITOPE TAYO
TAACO INVESTMENTS LIMITED
TAFIDA ISA
TAHIR HUSSAIN SULAIMAN
TAIWO ABAYOMI ABEL
TAIWO ADEKUNLE FATAI
TAIWO ADEMOLA FRANCIS
TAIWO JOSEPH ADEKUNLE
TAIWO MOTUNRAYO OLUWATAYO
TAIWO OLUYEMI
TALI FARRANT FAUEN NIMFA
TARPUL RESOURCES NIGERIA LIMITED
TAYO CAROLINE EBUN
TECHBENIK LIMITED
TEJUOSO BOLAJI OMODEINDE
TELLA OLUWADAMILOLA
TEMTSEN HELEN KANGYANG
THE ARK CONSOLIDATED INVESTMENTS
THE ROCK TRUST LTD
THE ROCK TRUSTS LTD
THEOPHILUS MMERENWANNE STEPHEN
THIKAN PETER TAMARAEMI
THOMAS SANDRA
THOMPSON OKECHUKWU
TIAMIYU KAZEEM ADEKUNLE
TIJANI OLADIPUPO MUHRTALA
TIJANI SAIDAT ABIMBOLA
TIJJANI GARBA JIDDA
TIJJANI HAFSAT
TIMEPLUS GLOBAL RESOURCES
TINUOLU GABRIEL OMOTUNRAYO ABIOLA
TITILOYE OLUWAYEMI FELIX
TITUS DORIS
TOBILOBA DELE
TOMORI GBEMISOLA
TOPMOST FIN.& INV. LTD.TRADED-STOCK-A/C
TOYFEM NIG. LIMITED
TRADERITE LIMITED
TRIDYNAMICS OIL & GAS LTD
TUEDOR SISAN
TURAKI SULEIMAN YAKUBU
TURNER MARIAM IDOWU
U2 SERVICES VENTURES
UBA PLC/DE-LORDS SECURITIES LTD- TRDNG
UCHEAGWU IGNATIUS NNAMENE
UCHENDU AUGUSTINE TOCHUKWU
UCHENDU UJU FRANCISCA
UDEAGBALA OBINNA KENNETH
UDEBUANI CLETUS OKWUCHUKWU
UDEMEZIE CHIKA EUPHEMIA
UDI EMMANUEL
UDOFIA INYANG EDEM
UDOH ALMOND OKON
UDOJI UGOCHUKWU KINGSLEY
UDUMEBRAYE DAMIAN OGHENETEJIRI
UDUMEBRAYE EDNA UFUOMA
UDUMEBRAYE GERALD OGHENEKARO
UDUMEBRAYE JESSICA ESE
UDUMEBRAYE JOHN-KAROL AROH
UDUMEBRAYE MICHAEL OGHENERUKEVWE
UFOEZE CHIZOBA ANGELA
UFOMBA OKWUDIRI STAMLEY
UGEGE ABHAMIEBAREKIOYA PETER
UGELE FESTUS PATRICK
UGWU LIVINUS EJIKE
UGWUANYI TITUS IFEANYI
UKA VICTOR CHIEDOZIE
UKAGHA NGOZI
UKANAH SUNNY AKPAN
UKATU FLORENCE CHINYERE
UKEGBU AZUBUIKE EMMANUEL
UKOGU CLEMENT IKECHUKWU
Account
No Name
1809.8238
1810.3434
1811.8573
1812.3476
1813.3567
1814.1237
1815.1433
1816.2137
1817.884
1818.3397
1819.2141
1820.6565
1821.7929
1822.6430
1823.1750
1824.1751
1825.1748
1826.1749
1827.4281
1828.4754
1829.5826
1830.6175
1831.5873
1832.360
1833.5846
1834.8364
1835.4462
1836.862
1837.7109
1838.4059
1839.4303
1840.4829
1841.517
1842.8577
1843.2154
1844.8352
1845.8578
1846.4056
1847.2156
1848.6432
1849.4799
1850.2165
1851.284
1852.6467
1853.2168
1854.267
1855.3499
1856.5553
1857.2171
1858.154
1859.5741
1860.5155
1861.3475
1862.4821
1863.327
1864.3436
1865.4841
1866.1223
1867.2175
1868.4744
1869.5663
1870.2176
1871.5154
1872.1222
1873.4052
1874.4050
1875.2180
1876.5852
1877.8011
1878.6135
UKOGU CLEMENT IKECHUKWU
UKPEBOR OSAZELE ELIJAH
ULOKANJO ANDY CHINEDU
UMAR BASHIR UMAR
UMAR DANJUMA DANGABAS
UMAR IBRAHIM MANYAHAYA
UME-EZEOKE CHUKWUNONSO ANGELINA
UME-EZEOKE CHUKWUNONSO ANGELINA C
UMELO KELECHI CHINAKA
UMOH IME ITA
UMUKORO ONOME UFUOMA
UNANKA IRUOMA PEACE
UNIQUE FUSSION
UNITY SISTERS CITY MISSION
UNUIGBOJE EDORE
UNUIGBOJE OJE
UNUIGBOJE OJEIRU
UNUIGBOJE OMOIKHUDU
UPPER ROOM INVESTMENT CLUB
UPPER ROOM INVESTMENT CLUB
URAMA SUNDAY EMMANUEL
USMAN ABUBAKAR ILIYASU
USMAN GARBA DANLAMI
USMAN REUBEN MONDAY
UVERE CHIJIOKE EMMANUEL
UWAJEH ALEX NKENCHOR
UWONWA RAPHEAL U.
UZO NWANKWO
UZOKA MADUABUCHI GODWIN
UZOZIE ROSELINE CHIOMA
VENUS CONSTRUCTION COMPANY LTD
VENUS CONSTRUCTION COMPANY LTD
VERHEIJEN DANLADI
VERSACORP WEALTHCREATION INV. LTD.
WAHAB DOSUNMU
WAKAMA AMAKIRI KINGDOM
WALE KUKU
WASIU ADEWALE AZEEZ
WASIU FALADE
WAZIRI AHMADU MAN
WAZIRI SILAS IDDAH
WILLIAMS JACOB OLUFEMI
WILLIE VICTOR
WILSON CHUKWUEMEKA EGIMEN
WISEPATH TREASURES LTD
WURAOLA AKINDELE OLUFEMI
YAKASAI MURTALA AMINU
YAKUBU ALFA BALARABE
YAKUBU DANLADI
YAROE BINOS DAUDA
YAYA JOHNSON OLATUNBOSUN
YEKINNI TAIWO SUNDAY
YERO MANSUR UMAR
YOLA ABDULMUMINI ADO
YOMI ONIWINDE
YOU-ON-ON ATIMANU BETEBEKEH
YUSUF ABDULMUMEEN
YUSUF ABDULRASAK ADEOLA
YUSUF AJADI AYODELE ZAINAB
YUSUF AMAJE MUHAMMED
YUSUF FARIDA DIKKO
YUSUF MOHAMMED OLUWASEUN
YUSUF MUMINI ADEKUNLE
YUSUF OLOLADE BILIKIS
YUSUF RAMOTA AMOKE
YUSUFF AZEEZ
YUSUFF MUSIBAU MUHAMMED
ZAKARI SUMAYYAH
ZANNAH KALLI
ZENABU YAKUBU
Chams PLC
PROXY FORM
28th Annual General Meeting to be held at Chams Plc, Plot 1288, Ahmadu Bello Way, Area 11, Abuja on Wednesday 21st
November 2012 at 11.00 am. I/We__________________________________________________________________________.being a member/members of CHAMS
Plc hereby appoint _________________________________________________________________________________
or failing him _________________________________ or failing him _____________________________________, as my proxy to attend
and vote for me/us and on my behalf at the Annual General Meeting of the company to be held on Wednesday, 21 November, 2012 and
at any adjournment thereof. Dated this_____________________________________________________.day of ________________________________2012 Shareholder’s name_______________________________________________________________________________________________
Shareholder’s Signature____________________________________________________________________________________________
S/ N
RE SO LUT IO N
FO R
AGAINST
1
To receive the audited Financial Statement for the year ended 31 December, 2011 and the Reports
of the Directors, Auditors and Audit Committee thereon
2
3
4
Please indicate with an ‘X’ in the appropriate square how you wish your votes to be cast on the resolutions set above. Unless otherwise
instructed, the proxy will vote or abstain from voting at his or her discretion.
Before posting the above form please tear off this part and return it for admission to the meeting
A d m i ss i o n C ar d
Please admit the Shareholder named on this Card or his duly appointed proxy to the Annual General Meeting of the company to be held
on 21st November, 2011 at the Chams Multi Purpose Hall, Plot 1288, Ahmadu Bello Way, Area 11, Garki, Abuja. The admission card must be produced by the Proxy in order to gain entrance into the Annual General Meeting. ________________________ _________________________ ________________________ _________________________
Name of Shareholder
Name of Proxy
Signature (Shareholder)
Number of Shares Held
53
Corporate Directory
He a d O ffice
S ubsidi a ries
8 Louis Solomon Close
Off Ahmadu Bello Way
Victoria Island
Lagos
ChamsMobile Limited
Victoria Island
Lagos
Abuj a O ffice
ChamsAccess Limited
Victoria Island
Lagos
Plot 1288, Ahmadu Bello Way,
Area 11, Garki,
Abuja
O ut l ets - C h a ms C ity
C entres .
Lagos
2A Isaac John Street,
GRA, Ikeja
Abuja
Plot 66, First Avenue,
Off Shehu Shagari Road,
Central Area,
Abuja
Abuja II
Area 3, Abuja
Port Harcourt
89, Stadium Road,
Behind Fedex Building, Port-Harcourt, Rivers State
Benin
34 Akpakpava Street,
Benin City,
Edo State
ChamsSwitch Limited
Plot 1288, Ahmadu Bello Way
Area 11, Garki,
Abuja
CardCentre Nigeria Limited
Victoria Island
Lagos
PayMaster Limited
Victoria Island
Lagos
w w w. c h a m s . c o m

Annual Report 2011

Transcription

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