- Dangote Group

Transcription

- Dangote Group

Growing a Sweet Harvest
About Us
About Us
4
5
6
10
Vision, Mission, Values
Global Sugar Market
Chairman’s Statement
Company Rerview
Operational Review
Our Operation
Our People
Our Approach to Sustainabilty
Health and Safety
Food Safety
Our Approach to Risk Management
Group Managing Director's Review
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19
20
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Corporate Governance
Corporate Governance Report
Board of Directors
Report of the Directors
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39
43
Financials
Financial Highlights
Statement of Director's Responsibilities in Relation
to the Financial Statements
Statement of Management's Responsibilities for the
Preparation and Approval of the Financial Statements
Statement of Directors' Responsibilities for the
Report Of The Audit Committee
Report of the Independent Auditors
to the Members of Dangote Sugar Refinery Plc
Consolidated and Separate Statement of Profit or
Loss and other Comprehensive Income
Consolidated and Separate Statement of Financial Position
Consolidated Statement of Changes in Equity
Separate Statement of Changes in Equity
Consolidated and Separate Statement of Cash Flows
Notes to the Consolidated and Separate
Financial Statements
Non IFRS Statement- Statement of Value Added
Non IFRS Statement- Financial Summary
Non IFRS Statement Five Year Financial Summary
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108
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Supplementary Information
Off loading at Apapa port, Lagos
Notice of Annual General Meeting
Directors And Professional Advisers
Corporate Information
Share Capitalisation History
E-Dividend Mandate Form
Proxy Form
Unclaimed Dividend Position as at 31st December, 2014
DANGOTE SUGAR R EF I N ERY P LC
ANNUAL REPORT
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2014
Operational
Review
Corporate
Governance
Financial
Statements
Vision, Mission, Values
Vision
Our vision is to be one of the world's leading integrated sugar
DANGOTE SUGAR R EF I N ERY P LC AN N UAL R EPORT 2014
producers, respected for the quality of our products and the way
we conduct our business.
Mission
To deliver consistently good returns to our shareholders by
selling high-quality products at affordable prices, backed by
excellent customer service.
To satisfy market demand by producing the very best refined
granulated sugar using exceptional resources and processes that
comply with international standards and industry best practices
To help Nigeria towards self-sufficiency in sugar production by
moving from importation and refining to creating new
plantations with their own refining facilities, close to major
centres of demand, with a target to produce 1.5 million tonnes of
refined sugar by 2024 across more than150,000 hectares of
newly planted land.
To provide economic benefits to local communities by way of
direct and indirect employment.
To set a good example in areas such as governance,
sustainability, health and safety.
Values
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Customer Service
Entrepreneurship
Excellence
Leadership
Apapa Refinery, Lagos, Nigeria
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Global Sugar Market in 2014
About Us
Sugar is a commodity whose price is determined by the dynamics of global supply and demand. Sugar
production is affected by weather and the amount of land under cultivation, while the consumption of
sugar is driven by macro-economic factors such as increasing wealth and population growth in the
developing world, set against conscious reductions in sugar consumption elsewhere.
Although global sugar consumption is rising at present, its growth is being outpaced slightly by the
increase in sugar production. Over the last two years, favourable weather conditions and new sugar
projects have created surplus stocks that led to a fall in the global price of raw sugar from more than
$450 per tonne to less than $350.
Operational
Review
Corporate
Governance
Financial
Statements
Global Sugar Production 2009/2010 - 2014/2015 (M MT)
180
177.6
175
175
172.3
172.5
170
165
162.2
160
155
153.4
150
145
140
2009/2010
2010/2011
2011/2012
2012/2013
2013/2014
2014/2015
Estimates Of World Sugar Production, Consumption And Global Surplus For 2013/2014 (million
Tonnes, Raw)
Source
Czarnikow
F.O. Licht
ISO
KINGSMAN
USDA
Production
184.0
181.4
182.7
180.3
175.7
Consumption
181.1
175.2
178.8
175.1
168.7
Surplus
2.9
4.7
4.0
5.2
1.5
Taking an average of these estimates, sugar consumption has been on a steady increase over the past
few years. In 2014, consumption rose by approximately 2.0% to 175.8MT from 172.3MT in 2013.
ANNUAL REPORT
2014
5
“
To this end, our Board is following a prudent course
of action that will support our backward integration
projects and enable our Company to sustain a
stronger financial footing in the future.
”
Aliko Dangote, GCON
Chairman
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ANNUAL REPORT
2014
About Us
Distinguished shareholders,
My colleagues on the Board, invited guests,
ladies and gentlemen. It is my pleasure to
welcome you all to the 9th Annual General
Meeting of our company, Dangote Sugar
Refinery Plc, at which I will also present to you
the Annual Report and Financial Statements
for the year ended 31st December, 2014.
2014 was a year of challenges in our operating
environment, particularly in the areas of
declining purchasing power and security
issues in the North Eastern part of the country.
The situation and its impact on our business
was a harsh reality, which we had to face and
manage to the best of our ability.
Despite challenging circumstances in the past
year, the Group posted a turnover of ? 95
billion in 2014. Profit Before Tax (PBT) stood at
? 15.3 billion, and Profit After Tax (PAT) ? 11.6
billion. Earnings per share totaled 97kobo per
share an 8% increase over the corresponding
period in 2013.
Worthy of mention is the resounding and
unprecedented success of the recent
presidential elections in Nigeria which gives
much cause for optimism and we look forward
to a stable future in the country, in which our
business will thrive and continue to grow.
2014 Dividends
It remains the Company's policy to return part
of its profits as dividends to shareholders at the
end of each business year. The dividend paid
depends on the Company's financial
performance, investment decisions, liquidity
levels and banks balances. In view of the
significant investments required for our
backward integration projects, your company
is in need of additional funding. As such, your
“2014 was a year of challenges
in our operating environment,
particularly in the areas of
declining purchasing power
and security issues in the north
eastern part of the country”
Board has taken the decision to reduce the
dividend payment for the year from 60 kobo
per share to 40 kobo per share. This is a
transitional situation, requiring our short term
sacrifices in order to build for the future, and is
necessary for us to maintain prudent capital
and liquidity levels, to sustain our operations,
in tandem with our backward integration
projects.
Operational
Review
Corporate
Governance
Financial
Statements
To this end, your Board is following a prudent
course of action that will support our
backward integration projects and enable our
Company to sustain a stronger financial
footing in the future.
The Global Sugar Market
Conditions in the global sugar market were
generally favourable to our refining business
in 2014. The consumer demand in emerging
markets remains subdued, despite population
growth and the seeming gradual recovery in
market economies, world sugar prices
reflected surplus supply conditions and
maintained a downward trend.
From the very late 1990's up until 2014, the
Global Sugar Manufacturing industry has had
to contend with increasing production and
volatile price levels. The increasing diversion of
sugar stocks to ethanol production in Brazil
did however, limit the buildup of surplus
stocks. Raw sugar prices declined during the
year, which led to a reduction in the dollar
value of our raw sugar imports within the
period.
Also, the European Commission confirmed
the abolition of sugar quotas from October
2017, and this placed a further cap on world
sugar prices. As European sugar producers
position themselves for a post-quota market,
we will continue to expect more volatility in
market prices.
Nigerian Sugar Market in 2014
The Nigerian Sugar Market has seen an
increase in investment activity during the year
owing to the various initiatives that were
prompted by the implementation of the
Federal Government's National Sugar
Development Plan. This plan has seen the
ANNUAL REPORT
2014
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existing sugar operators invest in sugar
plantations across the country in addition to
consolidating their own refining activities.
Despite a sluggish global demand trend, our
market remained strong in the year. We had to
contend with heightened insecurity in north
eastern Nigeria, along with other consumer
oriented businesses. Access to our key
markets was hampered, while we also had to
grapple with reduced consumer purchasing
power and the periodic menace of low-priced
unlicensed imported sugar. Notwithstanding
this, our local sales volumes exceeded
780,000 tonnes in 2014, a slight reduction on
the prior year.
Our Strategy
Recall that we have already begun the
implementation of our sugar development
plans. Ten years from now, our target is to
produce 1.5 million tonnes of refined sugar
from locally grown sugarcane that is
processed at our own, onsite facilities in
locations close to key Nigerian markets. We
will maximise opportunities to benefit from
the extended value chain in sugar production,
with the production of fuel ethanol and the
generation of electricity from our factories. We
believe that our expansion project will
g e n e r a t e m o r e t h a n 10 0 , 0 0 0 j o b
opportunities in the coming decade.
In 2014, we carried out an evaluation of our
projects with the help of our technical
partners. As a result of this evaluation, we have
adjusted our expansion plans in line with
market conditions and will now implement
the overall project in stages.
We have begun with the rehabilitation of the
Savannah Sugar operations as a model for our
plan, which will then be replicated across our
o t h e r p r o j e c t s i t e s . Th e S a v a n n a h
rehabilitation will be undertaken in parallel
with the greenfield development of a 23,000
hectars project in Taraba State within the next
3-5 years. This will be followed by the
development of our other sites to cumulate
the project within the 10 year plan.
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Oil and Currency Impact in Short-Medium
Term
The beginning of 2015 has seen a carryover of
the challenging business environment with
even more impact on our cash resources. The
devaluation of the naira amongst other
uncertainties cast a shadow on the business
environment. Lower oil prices and the naira
depreciation had an impact on our raw
material costs and we recognise that passing
these costs fully to the already liquidity
squeezed consumer environment is a major
challenge.
The Central Bank of Nigeria closed the
RDAS/WDAS Foreign Exchange Window and
directed all demand for foreign exchange to
the Interbank Foreign Exchange Market. This
development together with a general shortage
of foreign currency and any further
devaluation of the naira, will make the current
business year difficult for us, as we consolidate
and invest for the future.
However, we have a firm belief in the viability
of the Nigerian economy, and maintain a
positive outlook for future investment. The
Board will continue to guide our Company by
employing strategies that will guarantee a
sustainable future for our business.
“We are driven by a desire
to contribute positively
towards the development
of the communities in
which we operate, and to
society at large.”
Improvements in Governance and Risk
Management
We are driven by a desire to contribute
positively towards the development of the
communities in which we operate, and to
society at large. As such, our Environment,
Health & Safety, and Social Investment
Agendas were enhanced during the year
under review across all our operations.
ANNUAL REPORT
2014
About Us
The Board is a firm believer that the
sustainability of our business is interwoven
with the health & safety of our people and a
strong attitude of caring for our environment.
This is guided by good corporate governance
and effective risk management initiatives that
are now being implemented within the Group.
Dangote Sugar will continue to implement its
sustainability agenda, which is the platform it
uses in the delivery of its commitments with
focus on environmental awareness,
promoting health and safety and minimising
the risks within our operations.
Board of Directors
Since the last Annual General Meeting, there
have been no changes in the Board
composition. The Board is currently made up
of two (2) Executive Directors, Eight (8)
Non–Executive Directors including the
Chairman, three (3) of which are Independent.
Three (3) Directors will retire by rotation at this
meeting and the Directors eligible will present
themselves for re-election at this meeting.
Details of the members of the Board of
Directors are shown on pages 39 to 42 of the
annual report.
Despite our present economic challenges, the
Board remains very confident that our
company is positioned strongly to enhance its
leadership position and our expansion
strategy will deliver business success and
long-term value for shareholders.
My sincere appreciation goes to my fellow
Directors for their contributions. I also
appreciate our esteemed shareholders,
customers, suppliers and every stakeholder
for their continued support and partnership.
Operational
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Corporate
Governance
Financial
Statements
Our employees remain the key to our success,
and without their commitment, all the
operational improvements we have recorded
over the years, would not have been possible. I
am confident that we have the right strategy,
the people and resources to continuously
deliver sustainable growth for the company,
and returns to shareholders in the years
ahead.
Thank you.
Aliko Dangote, GCON
Chairman
Apapa Refinery Jetty
ANNUAL REPORT
2014
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Company Overview
Dangote Sugar Refinery Plc (“Dangote Sugar”
or “DSR”) is a household name in the sugar
refining sector of the Nigerian Food and
Beverage Industry. Our entry into the sugar
business dates back to the 1970s with the
import and sale of sugar by our parent
company, Dangote Industries Limited.
Today, Dangote Sugar is a leading brand that
has made a remarkable impact on the
Nigerian sugar sector. Our sugar refining
facility at Apapa is the largest in Sub-Saharan
Africa, with 1.44MT per annum installed
capacity. Our core competences include:
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Refining of raw sugar to make highquality Vitamin A fortified and nonfortified granulated white sugar
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Marketing and distribution of our refined
sugar grades in 50kg, 1kg, 500g & 250g
Ibese, Ogun State, Nigeria
packages
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Cultivation and milling of sugar cane to
finished sugar from our subsidiary,
Savannah Sugar Company Limited
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line with our strategy, “Sugar for Nigeria,”
which in turn is an integral part of
Nigeria's National Sugar Master Plan
In addition, our business provides key valueadded support services for our customers
including logistics, supply-chain
management, credit and risk advice, sales and
merchandising.
We operate to international standards of food
production, health and safety and have been
honoured with numerous awards for our
work.
Dangote Sugar Refinery Plc was listed on the
main board of the Nigerian Stock Exchange
(NSE) on 18th March, 2007. With more than
102,000 shareholders as at 31st December,
2014, the authorized share capital of DSR Plc is
? 6 billion, amounting to 12 billion shares of
50 kobo each. Dangote Industries Limited has
a majority shareholding of approximately
67.66% while 32.34% is held by other
shareholders.
Development of greenfield projects in
Raw Sugar
Sugar Shed
Shed at
at Apapa
Apapa Refinery
Refinery
Raw
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ANNUAL REPORT
2014
Operational Review
ANNUAL REPORT
2014
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ANNUAL REPORT
2014
Our Operations
About Us
Dangote Sugar Refinery, Apapa
Our flagship refinery complex is located at
Apapa Wharf in Lagos, with a dedicated jetty
that berths large shipments of raw sugar from
Brazil. The facility was commissioned in 2000,
with an initial refining capacity of
600,000MTPA. Over the years, the facility has
undergone two major upgrades that have
turned it into one of the largest sugar
refineries in the world with 1.44MTPA refining
capacity. The refinery is powered efficiently
with gas and/or Low-Pour Fuel Oil (LPFO)
with 16MW of in-house generating capability.
Over 2013-14, the facility benefited from
further upgrades that now enable it to achieve
more efficient sugar yields. We continue to
improve its efficiency and are installing a new
high-pressure boiler, upgrading automation
and improving energy conservation.
The energy-saving project is an advanced
engineering intervention to improve the
efficient use of energy in our sugar refining
process. When completed, the scheme is
expected to reduce our cost of production,
increase productivity and further improve the
quality of our refined sugar. Together, these
initiatives will enhance our competitive
position in the Nigerian sugar industry.
Operational
Operations
reviews
Review
Our refining operations are supported by
warehouses located strategically across the
country and served by more than 400 trucks
that take our finished products to market.
Corporate
Governance
Financial
Statements
Sugar for Nigeria - The Future of our
Business
Nigeria has always imported sugar, either raw
for refining or in its refined and granulated
forms. This dependence on imports is a
reflection on the fact that until recently,
Nigeria has had no native sugar production
industry of any scale and there was little
incentive to create one. Yet Nigeria is a
country that is blessed with abundant fertile
land suitable for planting sugar cane.
Recognising this paradox, the Federal
Government drew up the Nigerian Sugar
Master Plan, which is an ambitious drive to
make Nigeria self-sufficient in this most basic
commodity, at the same time reducing
outflows of Nigerian cash for imports and
creating thousands of jobs in sugar
production. This policy of ‘Backward
ANNUAL REPORT
2014
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Our Operations
Integration’ – achieving self-sufficiency by
turning importers into producers has already
achieved spectacular success in the Cement
industry where, benefiting from favourable tax
incentives and the phasing out of imports, our
sister company, Dangote Cement Plc, has
almost single-handedly made Nigeria selfsufficient in cement.
Dangote Sugar is an integral part of this
national plan. In 2012, we committed
ourselves to becoming an integrated sugar
business, serving local and export markets
from integrated plantation and refinery sites
that we plan to build across Nigeria. Our goal
over the next ten years is to reach a capacity to
produce 1.5 million tonnes of refined sugar
every year from locally grown sugarcane. At
the same time, we will sustain and improve
our existing refining operations as necessary.
Pursuing this goal will ensure that Dangote
Sugar becomes a global force in sugar
production, for the benefit of our shareholders
and all Nigeria.
We have set out to achieve this target by the
planting and cultivation of sugarcane on new
plantations covering more than 150,000
hectares of land across a number of sites in
Nigeria. The implementation of our
development plan has commenced with the
rehabilitation and expansion of Savannah
Sugar in Adamawa State, which was acquired
in December 2012. As shown in the map
below, we plan other integrated sites in
locations close to suitable land with good
irrigation, close to key markets. We have
begun acquiring additional sites and are
engaging competent technical partners to
plan and develop the necessary agricultural
work, factory design and project planning.
Sokoto
Katsina
Yobe
Jigawa
Zamfara
Borno
Kano
Kebbi
Bauchi
Kaduna
Gombe
Niger
Adamawa
Plateau
Abuja
FCT
Kwara
Nasarawa
Oyo
Taraba
Kogi
Ekiti
Osun
Ogun
Benue
Ondo
Enugu
Edo
Anam
bra
Lagos
Delta
Bayelsa
Imo
Rivers
Ebonyi
Abia
Cross
River
KEY
Green Field Projects
Akwa
Ibom
Savannah Sugar Estate
Highlights of Dangote Sugar's Expansion Plan
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?
Move from port-based refining to fully integrated sugar production within Nigeria, thereby
helping Nigeria to achieve self-sufficiency in sugar production
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Develop, in the next 5-10 years, the capacity to produce 1.5 million tonnes of sugar a year
from more than150,000 hectares of locally grown cane at existing and new plantations
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Create more than 100,000 new employment opportunities
ANNUAL REPORT
2014
Our Operations
About Us
Operational
Operations
reviews
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Corporate
Governance
Financial
Statements
New Sugarcane plantation at Savannah
Savannah Sugar Company Limited (SSCL) is
an existing cane sugar production operation
located on 32,000 hectares of land in Numan,
Adamawa State, Nigeria, with a milling
capacity of 50,000 tonnes of sugar per annum.
At present, however, SSCL produces refined
sugar from just 6,750 hectares of sugar cane
cultivated on its sugarcane fields. As part of
our growth strategy, SSCL is undergoing
rehabilitation and expansion so that much
more of its land can be planted and harvested
effectively. Investments have already been
made and are ongoing in land preparation
and development, farm machinery,
environmental improvements, employee
welfare and manpower training and
development.
This expansion project will increase sugar
milling capacity to some 260,000 tonnes of
sugar per annum, from sugar cane produced
on approximately 25,000 hectares of
cultivated land. Rehabilitation of the SSCL
estate has commenced and land
development and planting of new areas to
sugarcane will continue over the next two
years. The project will include the
development of 25,000 hectares of land by
2018, an out-growers scheme and the
refurbishment of infrastructure within the
estate, as well as a significant upgrade to its
existing factory. In addition, a new factory is
also under consideration to process the
increased cane supply.
SSCL employs 700 full-time staff, and 4800
part-time staff, with seasonal workers during
the harvest season.
ANNUAL REPORT
2014
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Our Operations
Expansion Projects
Apart from the rehabilitation of Savannah
Sugar’s plantation and factory infrastructure,
our growth strategy to farm more than
150,000 hectares of planted sugarcane by
2023 includes the creation of integrated
plantation and refinery facilities at the
following locations:
• Lau/Tau, Taraba State
• Hadejia, Jigawa State
• Zaria kalakala, Kebbi State
• Kpada, Kwara/Kogi States
Integrated sugar mills will be sited at these
locations to:
• Refine white sugar from locally grown
sugarcane to sell into local markets and
where appropriate, to export to other
markets across West Africa.
•
Generate power from bagasse for own
use, with any excess electricity being sold
to the national grid.
•
Produce Fuel Ethanol (ethyl alcohol).
•
Produce Animal feed from molasses and
bagasse .
•
Produce Bio-Fertilizer from pressmud/filter cake during sugar
manufacturing.
Expansion Project Phase 1
This first phase of the project has begun with
pre-project implementation activities
including:
• New site selection/suitability (soil
Assessmtnt, topography, climate, water
and Irrigation potential)
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•
Project design, detailed studies and
development of implementation strategy
•
Partnership with technical consultants to
conduct feasibility studies and develop
appropriate designs
•
Investment in farm machinery and
equipment
•
New sites survey and land development;
Seed cane production; planting; irrigation;
industrial development; housing and
amenities
This phase also includes the rehabilitation and
expansion of Savannah Sugar’s estate, which
will be used as a model for the other locations.
We have begun with the following activities:
•
Land development and expansion of cane
production at Savannah.
•
Refurbishment/Upgrade of SSCL facilities
(factory, housing & amenities).
•
Reintroduction of a robust out-growers
scheme.
•
Char ting community relations &
development initiatives guided by
consultations and engagements with the
local communities in which we will
operate. The initiative will be
implemented through various
environmental, healthcare, educational,
skills acquisition and job creation
programmes to make a positive impact on
the living standards in these communities,
aimed towards fostering a sound cordial
relationship with them.
Lau/Tau, Taraba State Project
The Lau & Tau Sugar Project will be the first of
the new sites to be developed over the next
three years. The area is located on the south
bank of the Benue River in Taraba State, about
30 km Northeast of Jalingo.
The project will be an independent sugar
estate, as per the Savannah model, with its
own sugarcane plantation and mill. Land
acquisition for the site is nearing completion
and pre-project development activities have
commenced on the site. Soil and topographic
surveys of the land have been concluded and
verification of irrigation water availability is
underway to better determine bulk water
supply and the location of abstraction points.
An environmental and social impact
assessment is also in progress.
ANNUAL REPORT
2014
Our Operations
About Us
Initially, 18,000 hectares growing to 23,000
hectares will be planted with room for the
development of nearby lands as an outgrowers scheme. The project will produce 2.3
million tonnes of sugarcane. Lau/Tau will have
a cane milling factory capable of handling
12,000 tonnes/day, and the aim is to produce
250,000 tonnes of refined sugar per annum.
The main source of irrigation for the Lau and
Tau project will be the Benue and Lamurde
Rivers. To achieve our target for factory
commissioning in 2018, we have started
building up our cane supply with the
establishment of a sugarcane nursery at Lau &
Tau. The seed cane nursery will be used to
plant a commercial nursery, and thereafter to
fully develop the total area to be planted.
The cane from the nursery will be used to plant
sugarcane during the next three years, with a
target of 2018 for the first commercial harvest.
This will coincide with the commissioning of a
new factory at the site.
ANNUAL REPORT
2014
Operational
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Corporate
Governance
Financial
Statements
17
Our Operations
Hadejia, Jigawa State Project
The Jigawa State project site is a 21,449
hectares of land located at Hadejia. An
environmental and soil impact assessment is
underway. In addition, soil surveys and
topographical assessments have been
completed. Our technical partner have
commenced the agricultural design as part of
a detailed feasibility study. Factory
requirements will be met by the design of a
12,000tonne/day sugarcane milling facility.
These projects will have integrated sugar
operations on 60,000ha area in Kebbi State,
and 36,000ha at Kwara/Kogi States.
The approvals for the sites have been obtained
from the relevant authorities and the soil and
topographical surveys concluded. We are now
finalising the land acquisition processes. Once
concluded, the pre-project activities will
commence at these locations to ensure the
target deadline is met.
Expansion Project Phase 2: Kebbi And
Kwara/kogi States Projects, 5-10 Years
The second phase of expansion into new sites
will cover two further locations in Kebbi and
Kwara/Kogi states over the next 5 to 10 years.
New Sugarcane Nursery at Lau/Tau, Taraba State Project Site
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ANNUAL REPORT
2014
Our People
About Us
Our people continue to be the driving force
behind our business, therefore, our human
resources and manpower development
strategies are aligned with our business
objectives and aspirations.
The Group has designed and is implementing
a performance management system, which
will help us to identify gaps in our reward
system and address specific training
development needs of our employees.
During the year under review, we reviewed
our organisational development, with talent
management, performance management,
employee engagement and competitive
appraisal systems redesigned to motivate our
employees. We are building capability and
leadership among our people and attracting
some of the best talent in the marketplace.
The development of relevant competences
remains an important priority for
management.
The Company has maintained harmonious
industrial relations with employees. With our
robust aspirations for the future, our
employees are carried along with
developments in the company with periodic
briefing by our management.
We will
continue to upgrade the skills and
competences of our people to firmly position
us as a leading sugar industry business.
Operational
Operations
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Corporate
Governance
Financial
Statements
During the year, in addition to 'on the job
learning', 96% of employees attended inhouse training, local and international
learning and developmental courses to
upgrade their skills for optimal performance.
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3
1. Employee Long Service Award Recipient
2. Employee SAP Super User Award recipient
3. Cross section of staff at the SAP Super User Awards
ANNUAL REPORT
2014
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Our Approach To Sustainability
Our sustainability approach is driven by a
desire to contribute and impact positively
towards the development of the immediate
communities we operate in and society at
large.
In 2014, our Environmental, Health and Safety,
and Social Investment efforts were enhanced
with the consolidation of existing and
development of new group-wide policies that
will guide our approach to this very important
aspect of our businesses. These efforts are
coordinated by a central group directorate at
our parent company, Dangote Industries, who
work with the sustainability team in Dangote
Sugar to ensure that policies and standards
are implemented to meet the specific
requirements of each business.
1
For Dangote Sugar, this sustainability agenda
guides the delivery of our commitments in this
area, with focus on promoting Health and
safety within our operations, as well as
supporting our commitments to the host
communities of our projects.
2
3
1. Savannah Sugar Staff School Children
2. & 3. Presentation of the Patrol Vehicles to NAFDAC
20
Health and Safety
About Us
We are committed to the implementation and
maintenance of Occupational Health and
Safety Management Systems (OHSMS) that
aim at the prevention of occupational injury
and ill–health to all people who have access
to the organisation's workplace. A strong
commitment to continuous improvement is
needed for production, sales and delivery of
refined granulated white sugar in compliance
with relevant legal, statutory and other
requirements.
a safe working environment, with minimal risk
to their health, as we strive to achieve zero
accidents in our operations.
In addition, the Staff Welfare Unit organizes
health awareness talks, seminars and
programmes with professionals in the health
sector on various health issues and diseases
such as HIV/AIDS, high blood pressure,
personal hygiene, Ebola, Diabetes, and other
serious diseases.
Operational
Operations
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Corporate
Governance
Financial
Statements
During the year under review, we enhanced
our commitment to ensuring zero accidents
across our operations, with an improved
health and safety strategy, with the objective
of building and reinforcing a winning safety
culture amongst employees.
Our slogan remains: “Safety First. If it is not
safe, don't do it.”
The occupational health & safety policy is
documented, monitored and sustained
through adequate communication,
supervision and awareness creation to all
employees, suppliers and all stakeholders in
line with the requirements of the OHSAS
18001:2007 safety system.
Health, safety and environmental workshops
are organised for all employees with a broad
focus on continuous improvement to ensure
1
2
1. OH & S Certificate
2. Cross section of DSR HSE officers & Fire Marshals
ANNUAL REPORT
2014
21
Food Safety
The Dangote Sugar Refinery Plc food safety
policy ensures that our operations in refining,
sales and distribution of granulated white
sugar meet statutory, regulatory and
consumer food safety requirements, using the
most appropriate food grade production
facilities under hygienic conditions, whilst also
maintaining effective communication with
stakeholders on food safety issues.
Our food safety policy is supported by
measurable objectives that are monitored,
maintained and continually reviewed with the
objectives:
a. To provide wholesome and nutritious
sugar that supports healthy living
b. To achieve 100% compliance with all
relevant customers', statutory and
regulatory food safety requirements
c. To ensure that all relevant parties in the
food production chain are aware of, and
comply with the company's food safety
requirement.
Dangote Sugar Refinery Plc is FSMS (Food
Safety Management System) I SO
22000:2005, certified, and we are working
towards the achievement of the FSSC 22000
(Food Safety System Certification); before the
end of the 2015 business year. The FSSC
22000 (Food Safety System Certification) is a
Global Food Safety Initiative (GFSI).
This food safety certification and other efforts
in the continuous improvement of our
product quality and standards has made
Dangote Sugar the preferred brand of most
multinational corporations in the Nigerian
food and beverage sector.
“Our food safety policy is
suppor ted by measurable
objectives that are monitored,
maintained and continually
reviewed to achieve 100%
compliance, with applicable
customers, Statutory/regulatory
food safety requirements”
22
1
2
picture to be adviced
3
1. Employees handling the Retail Sugar Packaging
2. Dangote Sugar Retail Packaging Plant @ Ikeja
3. Vee Processor: the Vitamin A Mixer. Vitamin A
is added to our sugar for the required
25,000 iu/kg minimum
ANNUAL REPORT
2014
Our Approach To Risk Management
About Us
Risk management remains integral to our
operational strategy and the achievement of
our long-term goals. Given the volatile
environment we operate in, our businesses
are subject to risks and uncertainties. The
Board, therefore, have during the year under
review paid particular attention to sharpening
our focus on the following key risk areas:
credit, market, liquidity, operational and safety
risks.
A new approach to risk management was
developed, with a robust risk framework
piloted by the Audit and Audit/Risk
Management Committee of the Board of
Directors, in line with internationally accepted
standards.
The Board of Directors are advised by its audit
and audit/risk management committee
where appropriate; they regularly review the
significant risks and decisions that could have
a material impact on our business. These
reviews provide a clear position on the level of
risk that we can take in pursuit of our business
strategies, and the effectiveness of the
management controls in place to mitigate the
risk exposures.
The risk management department has been
strengthened by the appointment of
professional risk managers to ensure a holistic
fit-for-purpose approach, with a robust
framework for timely identification,
measurement, control, reporting and
monitoring of risks in the company. This
approach has been designed to provide
reasonable assurance that our assets are
safeguarded, while the risks facing the
businesses are assessed on a continuous basis
to mitigate any eventualities.
Operational
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Corporate
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Periodically, the audit and audit/risk
committee, through the Group risk team
review and assess the internal controls and
procedures, approved by the Board of
Directors; testing effectiveness and the
remedial actions to be taken should the need
arise.
As a result, our people are more aware that
our success as an organisation does not just
depend on our ability to identify and exploit
the opportunities that are available in the
markets we operate in. In addition, we must
adopt a prudent approach to risk
management, which if not well managed
could impact on our ability to meet our targets
and profitability and could also be detrimental
to our reputation.
ANNUAL REPORT
2014
23
these factors by commissioning an alternative
boiler fuel system (using low pour fuel oil), which
sustained our operations, whilst also benefitting
from lower raw sugar prices during the year.
We were able to increase selling prices to offset
cost increases brought about by currency
devaluation in the last quarter of 2014. Our sales
team worked continuously with our trade
customers to sustain their needs in troubled parts
of the country and we were also able to improve
the supply of high quality refined sugar to our
corporate customers.
Group sugar production totaled 838,993 tonnes
for the year, compared to 819,996 tonnes
produced in 2013. A total of 832,660 tonnes of
refined sugar was produced at the Apapa refinery
(2013: 814,910 tonnes). At Savannah, sugar
production increased to 6,333 tonnes from 5,036
tonnes produced in 2013, reflecting the
beginning of our rehabilitation and expansion
activities.
Graham Clark
Group Managing Director
“Our sales and marketing
objectives during the year
remained the sustenance of
our leadership position and
enabled us to maintain the
largest market share in
Nigeria.”
During 2014, our primary focus was to enhance
our operational efficiency, focus on our growth
plans, increase sugar production, and to continue
to provide for the needs and requirements of our
customers, employees and stakeholders
generally. Regular communication with our
investor community continued via quarterly
financial and performance updates designed to
give a better understanding of the key drivers of
our business, as well as describing our
achievements, challenges and aspirations for the
future.
Our performance in 2014 was negatively
impacted by operational challenges including
disruptions to the supply of natural gas (our
primary energy source) to the Apapa Refinery,
currency depreciation and the challenges of the
security situation in North-Eastern Nigeria.
We were, however, able to mitigate the impact of
24
Group sugar sales volume was 781,319 tonnes
(2013: 804,258 tonnes). Local sales declined by
3%, reflecting the challenges faced in the
domestic market. No sugar was exported in the
year compared to 15,000 tonnes exported in
2013, this being due to unattractive export prices
prevailing during 2014.
Turnover for the year reached ? 95billion, (2013
? 103billion), and the refinery achieved a gross
operating margin of 23% compared to 26% in
2013. Group profit before tax and profit after tax
stood at ? 15.3b and ? 11.6billion, respectively,
compared to ? 16.3billion and ? 10.8billion
achieved in 2013. Group earnings per share
increased from 90 to 97 kobo per share. During
the year, our cash needs were met from cash
generated from our Apapa Refinery operations.
Investments made in respect of the various
projects we have embarked upon in sugar
production and equipment/operational
upgrades were funded from these internal
resources, as well as our expansion project
needs. These investments are the foundation that
will support our sustainable growth over time by
improving our operational efficiencies, output
and returns to shareholders in the years to come.
As part of our operational focus, we continue to
implement various projects at the Apapa Refinery
geared towards achieving improved operational
efficiency and increased output.
ANNUAL REPORT
2014
About Us
We are also in the process of upgrading our
quality systems, working towards achieving the
Food Safety System Certification (FSSC 2200); a
Global Food Safety Initiative (GFSI) recognised
scheme, before the end of 2015. This certification
will further boost our food safety standards and
position our product as the preferred brand to
companies in the pharmaceutical and food and
beverage industries in Nigeria.
Our activities were further enhanced in the year
with a strengthened Enterprise Wide Risk
Management approach. This will enable us to
better manage existing and emerging business
risks via a process that effectively identifies,
measures and monitors the risk environment in
which we operate. The introduction of a capital
projects function will also help us to successfully
undertake capital projects through planning,
project management and formal tracking against
our project objectives.
Our sales and marketing objectives during the
year remained the sustenance of our leadership
position and enabled us to maintain the largest
market share in Nigeria. To achieve this, we
focused on the upgrading of our sales and
marketing strategy by developing and
implementing new initiatives to maximise our
strengths in the market. Fixed-term supply
agreements were negotiated with corporate
customers, customer performance incentives
were continued and technical and market
support was provided where needed. To this end,
we established new distributors, enforced
rigorous compliance to our trade terms and
facilitated customer forums to enable us to work
with our customers to maximise their growth
potential.
Our sugar development projects continued in the
year, with technical evaluation and design
activities for our identified opportunities being
progressed. The agricultural and factory
rehabilitation of Savannah is ongoing, and a total
of 1,223 hectares was redeveloped in the year,
with plant, equipment and field machinery
deployed as necessary. This redevelopment area
will increase to a targeted 2,735 hectares in 2015,
and accelerate thereafter to fully develop all
available land over the next 3 years.
Operational
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Corporate
Governance
Financial
Statements
The 2014, sugar production season at Savannah
commenced in January 2014 and ended in April
2014. Cane production during the year was
negatively impacted by the challenges faced on
the estate in the prior year. As a result, cane yields
remained low, although higher than the prior
season average, and a total of 123,494 tonnes of
cane was harvested, compared to 102,181
tonnes of cane harvested in 2013. The 2015
harvest commenced in January 2015, with
improved cane yields being recorded to date
following new area planted and improved cane
husbandry on the estate. The sucrose content in
the cane is also much improved and sugar
production in the coming season stands to
exceed prior-year achievements.
Our additional expansion plans on the identified
sites continues to gain momentum, with our goal
remaining to achieve 1.5 million tonnes of
refined sugar per annum in the next 10 years,
from locally grown sugar cane that is produced
and processed at the new facilities in Nigeria. We
have redrawn our project implementation plans
to develop these new projects in two phases.
Retail Sugar Packaging Plant
ANNUAL REPORT
2014
25
The first phase will include the ongoing
rehabilitation and expansion of Savannah to
ultimately produce 260,000 tonnes of refined
sugar per annum. In parallel, we will commence
the development of the Lau/Tau project in Taraba
State and will also mobilise to commence the
development of a second new site at Hadejia in
Jigawa State. Site evaluation and technical design
work is progressing in respect of these two new
sites and land acquisition procedures are nearing
completion at Lau/Tau and continue at Hadejia. It
is anticipated that these projects will span a 5year horizon, the intention being to produce up to
750,000 tonnes of refined sugar in this first
phase.
When the first phase of our development is
nearing completion, the second phase of our
expansion plan will be to commence
development in Kebbi, Kwara and Kogi States.
Site evaluation and technical analysis of these
sites is underway in order to complete all
preliminary work well ahead of the development
timetable for these sites.
As an organisation, sustainability and equitable
growth remain key drivers of our business
operations. During the past year, various
sustainability initiatives have been progressed to
improve our environmental, health and safety
and social investment agendas. Ultimately these
initiatives will contribute to improved operational
efficiency, the reduction of operating costs and
better management of operational risk.
The implementation of enhanced health and
safety initiatives continues in order to improve
the working environment of our employees.
Ongoing safety awareness campaigns and the
implementation of improved workplace safety
procedures is part of our drive to upgrade and
heighten workplace safety awareness amongst
our workforce, service providers and visitors to
our facilities. We will continue to strive towards
an accident free environment with health and
safety procedures designed to lift the wellbeing
and productivity of our workforce.
The outlook for 2015 remains challenging in the
face of external factors such as currency
devaluation that might have an impact on our
business. Attention will be focused to mitigating
the potential negative impact of these factors as
we strive to sustain our growth during 2015.
Graham Clark
Land preparation activities at Savannah
26
ANNUAL REPORT
2014
Growing
Growing aa Sweet
Sweet Harvest
Harvest
About Us
Operational
Operations
reviews
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Corporate Governance
D
D AA N
NG
GO
O TT EE SS U
UG
G AA RR RR EE FF II N
N EE RR YY PP LL CC
AA N
NN
NU
U AA LL RR EE PP O
O RR TT 22 00 11 44
Corporate
Governance
Financial
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28
ANNUAL REPORT
2014
About Us
declared. Consequently, we have requested
all shareholders to complete the detachable
form in the annual report, in order to provide
our registrars, Veritas Registrars Limited, with
their bank and other details.
Board of Directors
The Board currently consists of ten (10)
members, the Chairman, Group Managing
Director, Deputy Group Managing Director
and seven non-executive Directors, three (3)
of whom are Independent Directors. The
Board has the overall responsibility for
ensuring that the Company is appropriately
managed towards the achievement of the
Company’s strategic objectives. The Board is
headed by a non–executive Chairman.
Aliko Dangote, GCON
Chairman of the Board
Dear Shareholder,
Dangote Sugar Refinery Plc. (DSR) is
committed to best practice and procedures in
Corporate Governance. The Board put in place
mechanisms that assist it to review, on a
regular basis, the operations of the Company
so as to ensure that our business is conducted
in accordance with good Corporate
Governance and global best practices.
Transparency in Financial Reporting and
Internal Control
Dangote Sugar Refinery Plc produces a
comprehensive annual report and financial
statements in compliance with the Company
and Allied Matters Act. We put in place
adequate internal control procedures and
ensure that the documents reveal the
business and provide detailed audited
financial statements in accordance with the
relevant accounting standards and
regulations.
E-dividend
Consistent with the Dangote Sugar Refinery
Plc business strategy, shareholder value
Creation and commitment to good Corporate
Governance, we are encouraging our
shareholders to embrace the e-dividend. This
is to enable us to pay the dividend due to
shareholders by crediting their bank accounts
with dividends immediately after they are
Operational
Review
Corporate
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Financial
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Responsibilities of the Board Of Directors
The general responsibilities of the Board
include but are not limited to the following:
• Defining the vision, goals, objectives and
strategic priorities including recruiting and
evaluating the performance of the Officers;
reviewing the company’s organisation and
remuneration structure; and establishing a
succession plan for the GMD and the senior
officers.
• Establishing the overall business objectives
and strategies, and through an
institutionalised strategic planning
process, consider whether they continue to
be appropriate in the context of the
business environment, taking
responsibility for issuing the audited
financial statements and ensuring the high
quality and reasonableness of the
accounting and financial management.
• Reviewing the short, medium and longterm strategic, financial and business plans
including reviewing the annual budget of
the company as well as major risks to
which the company is exposed.
• Providing a broad oversight of the overall
activities and affairs of DSR and the
effective performance of management and
monitoring the deployment of financial
and human resources for the achievement
of those plans.
ANNUAL REPORT
2014
29
• Reviewing and approving all major capital
expenditure and material projects such as
investments, divestments, mergers and
acquisitions or other business
combinations.
• Establishing procedures for the approval of
and approving all significant acquisitions
and major contracts outside the ordinary
course of business.
• Approving the declaration of dividends,
stock buy-backs and new issuances of
shares, restructure of the capital and share
reconstructions including those associated
with employee equity or incentive
programmes.
• Approving the framework for the
delegation of authority to the GMD and
Management and defining the powers
reserved for the Board.
• Approving the appointment of other
directors including their training as may be
recommended by the governance
committee.
• Ensuring that an effective management
team is in place and appointing key officers
of the Company, including the GMD,
company secretary and internal auditor.
• Approving a competitive compensation
structure for the non-executive Directors
subject to the Articles of Association and
laying the statutory Directors’ fee before the
AGM for approval upon the
recommendation of the governance
committee.
• Approving a mandate or charter for the
Board and establishing Board Committees
as well as approving their mandates or
charters.
• Receiving concise reports from Board
Committees at the next Board meeting
after the committee meeting and a written
report or copies of the minutes.
30
• Setting performance objectives and
approving key performance indicators for
the company and its committees and
ensuring the regular evaluation of the
effectiveness and performance of and the
operations of the Company and associated
companies.
• Periodically reviewing the organogram and
approving all major changes to the
structure of the organisation as well as
reviewing the management succession
plan and human resources plan.
• Overseeing employee compensation plans
to ensure that they are consistent with the
sustainable achievement of business
objectives, prudent management of
operations and consistent with ongoing
assessments of the risks to which the
company is exposed.
• Approving a risk management framework,
setting the risk threshold, monitoring the
major risks to the Company and ensuring
that management takes actions to mitigate
those threats, which may include but are
not limited to those pertaining to
operations, raw raterials, product or
stock availability, quality, price, liquidity,
interest and exchange rate changes,
capital market dynamics, on-going
availability of capital and fash flow to
operate the business, profitability,
insurance, safety, people and reputation
risks.
• Ensuring that an effective and secure
Whistle Blowing Policy and adequate
structures by which staff and stakeholders
can raise concerns about possible or
potential improprieties are in place.
• Ensuring there is an appropriate
framework of internal controls in place and
monitor ongoing reports on the adequacy
and continuous improvement in such
controls.
ANNUAL REPORT
2014
About Us
• Reviewing IT systems policies and disaster
recovery plans; and
• Approving that the appointment,
reappointment or removal of the external
auditor be put to the Annual General
Meeting for approval and recommending
to the general meeting, the appointment
of the external auditor as determined by
the audit committee.
• Approving all policies and revisions thereof,
including those pertaining to corporate
disclosure and communications, finance
and accounting, credit, risk management,
operations, IT, liquidity, funding,
profitability and capital management.
• Overseeing the correctness of
communications with shareholders and
stakeholders including communities,
interim and annual financial statements,
shareholder meeting materials, etc.
• Checking that compliance documents are
filed correctly and in a timely manner with
applicable company, securities and other
regulators, including but not limited to, the
Securities and Exchange Commission, the
Nigerian Stock Exchange the Corporate
Affairs Commission, NAFDAC, SON and
similar filings with other applicable
authorities.
• Approving policies to improve the
corporate governance system and ensuring
that DSR operates within the laws of the
Federal Republic of Nigeria and
institutionalising conduct that promotes,
maintains and enhances the integrity and
reputation of the company; and
• Establishing high standards of business
conduct and ethical behaviour for directors,
officers and employees including
disclosing potential areas of conflict of
interest and ensuring that there is an
ongoing process for ensuring compliance
with those standards.
The Board carries out the above responsibility
through the Board Committees whose terms
of reference clearly set out their roles,
responsibilities, scope of authority and
procedures for reporting to the Board. Each
committee is chaired by a Non Executive
Director to ensure strict compliance with the
principles of good corporate governance
practice, while a representative of the
shareholders chairs the Audit Committee.
Operational
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Financial
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The various Committees of the Board assist
the Board of Director’s in fulfilling their
oversight functions regarding financial
reporting, risk management, Internal control,
employee welfare etc in line with regulatory
and corporate governance practice
requirements.
Meetings of the Board of Directors
The Board of Directors holds at least four (4)
meetings a year, to consider important
corporate events and actions such as approval
of corporate strategy, annual corporate plan,
review of internal risk management and
control systems, performance review; direct
the affairs of the Company, its operations,
finances and formulate growth strategies. It
may however, convene a meeting whenever
the need arises. During the year under review,
the Board of Directors and the board
committees convened several meetings.
Record of Directors’ Meeting
In line with the provisions of Section 258(2) of
the Companies and Allied Matters Act, Cap.
C20 Laws of the Federation of Nigeria, 2004,
the record of Directors’ attendance at Board
meetings is available for inspection at the
Annual General Meeting.
Committees of the Board of Directors
Th e B o a r d d e l e g a t e d s o m e o f i t s
responsibilities to standing committees that
consist of Executive and Non – Executive
Directors. In compliance with the practices of
good corporate governance, the Chairman of
the Board of Directors is not a member of any
of these committees. The committees are the
Governance, Finance and Audit/Risk
ANNUAL REPORT
2014
31
Management Committees. The committees
report to the Board of Directors on their
activities and recommendations, which are
ratified by the full Board, at a meeting.
Finance Committee
The Committee is comprised of six Directors,
with an Independent Director as Chairman.
Members of the Committee are:
Ms. Bennedikter Molokwu
Mr. Olakunle Alake
Alhaji Abdu Dantata
Engr. Abdullahi Sule
Mr. Graham Clark
Ms. Maryam Bashir
-
Chair Person
Member
Member
Member
Member
Member
Responsibilities of the Finance Committee
• Review and recommend for approval by
the Board, the financial and business plan
of the Company as well as its quarterly and
annual operating and capital budgets and
forecasts as well as revisions thereto
proposed by management.
• Ensure the completeness and accuracy of
financial statements – quarterly, half year
and annual accounts, make reports and
recommendations and oversee the proper
disclosure of its financial information.
• Review the capital appropriation plans of
the Company and provide advice and
guidance on the authorization limits
established by the Board.
• Review, as it is deemed appropriate, the
Company’s financial policies, capital
structure, matters affecting the capital like
mergers and acquisitions, divestments and
acquisitions, loan repayments, guarantees,
assumptions of debt, foreign currency
transactions and major disposals not in the
ordinary course of its business or that of its
subsidiaries.
• The Committee shall periodically review
32
investment and operation performance
plans, make recommendations regarding
the financial, accounting, actuarial and
investment policies, practices and
guidelines, tax planning and compliance
programmes and provide guidance and
advisory recommendations.
• Develop alternative strategies to improve
funding and ensure a balance between
strategic priorities and resource availability.
• Appraise major equity or other
investments, any share repurchase plans
or disposals of shareholding interests of
more than 5% or take-over action,
participation in joint ventures,
partnerships or similar initiatives and make
recommendations to the Board.
• Annually review the company’s dividend
policy and make recommendations to the
Board on the dividend to be declared.
• In accordance with the Company’s policies
and practices for the review of contractual
obligations as approved by the Board, the
committee shall review summaries
prepared by management of certain
contractual obligations including certain
human resources, business process,
outsourcing contracts and certain
consulting contracts.
• Periodically review major banking,
investment advisors, subsidiaries,
customer and competitor activities and
relationships and the impact of the
company’s actions on those relationships
and the short and long term interests.
• Review with management and the
governance committee the company’s
retirement strategy, gratuity, defined
benefit and contributions plans and make
recommendations performance and
funding of the plan assets.
ANNUAL REPORT
2014
About Us
Board Governance Committee
The Committee comprise of five Directors,
with an independent Director as Chairman.
Members of the Committee are:
Dr. Konyinsola Ajayi, SAN
Mr. Uzoma Nwankwo
Ms. Maryam Bashir
Mr. Graham Clark
-
Chairman
Member
Member
Member
Member
•
•
Ensure that a fair and competitive
Remuneration Policy which defines the
criteria and mechanism for determining
levels of remuneration and the frequency
for review of such criteria and mechanism
is in place. The policy should define a
process, if necessary with the assistance of
external advisers or professional executive
recruitment firms, for the determination of
Executive and Non-executive
compensation, as well as providing to
what extent Executive Directors rewards
should be linked to corporate and
individual performance.
•
Conduct periodic reviews of the
organogram, size, composition,
effectiveness of the senior management
and the human resources policies of the
organisation for the Executive Directors
and key officers against current industry
practice and emplace professional
executive recruitment publications for DSR
thereby creating a clear understanding of
the different methods of recruiting,
training, motivating, retaining and
remunerating Executive Directors and key
officers.
•
Determine and recommend the criteria
necessary to measure the performance of
Directors and the senior executives and
the Directors in discharging their functions
and responsibilities including setting
performance bonuses or incentives.
•
Annually evaluate the skills, competences,
knowledge and experience required on
the Board and all aspects of the Board’s
structure, composition, responsibilities,
processes and roles and make
recommendations on the performance
Responsibilities of the Board Governance
Committee:
• Regularly review the Board structure, size
and composition and provide
recommendations to the Board with
regards to any adjustments deemed
necessary.
•
Regularly review the required mix of skills
of the Board, experience and other
qualities of the Directors in order to assess
the effectiveness of the Board as a whole,
its Committees and the contribution of
each Director.
•
Make recommendations to the Board on
the appointment of new Executive and
non-executive Directors, including
alternate Directors, the composition of the
Board generally and ensure that a balance
exists between executive and nonexecutive Directors.
•
Identify and nominate candidates for the
approval of the Board, to fill Board
vacancies as and when they arise.
Investigate the eligibility of new Director’s
for appointment and their backgrounds,
along the lines of the approach required
for listed companies by the SEC/NSE, prior
to their appointment including the
determination of the independence or
otherwise of a prospective independent
Director.
•
Recommend Directors who are retiring
per the Articles of Association or under the
provisions of CAMA to be put forward for
re-election at the AGM.
Establish the general human resources
policies including the retirement age, the
exit criteria, retirement and termination
payments and benefits for executive and
Non- executive Directors and Key Officers
and review and propose necessary
changes of the policies.
ANNUAL REPORT
2014
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33
of individual, committee and Board. This
performance evaluation or appraisal may
be conducted internally by the
governance committee but at least once
in three years by an external consultant.
•
•
The Directors’ fees should be fixed by the
Board and approved by the shareholders
in an annual general meeting while the
Board of Directors would approve the
remuneration of each Executive Director,
including the GMD, individually taking into
consideration direct relevance of skill and
experience to the company at the
particular time.
•
The Committee should put in place in
collaboration with the Company Secretary,
induction and continuing education
programmes to keep the skills required on
the Board at its optimum level and in
par ticular ensure that corporate
governance training permeates the
organisation.
•
Provide the policy and framework for
compliance with laws, regulations and
principles of corporate governance and to
provide the mechanisms for periodic
assessment of compliance, including
compliance by significant vendors and
consultants.
•
Monitor changes and proposed changes in
laws, regulations and rules affecting the
organisation and obtain regular updates
from the Legal Counsel or Company
secretary regarding compliance matters.
•
34
Ensure that a duly approved trust deed
governs the policy and administration of
the employee Shares ownership or
Incentive scheme and to recommend
acceptable changes to the policy or other
developments to the Board.
Communicate with the Board regarding
the organisation’s policy on ethics, code of
conduct and fraud policy as it relates to
internal control, financial reporting
activities and all disclosures and related
party transactions.
•
The Committee must put in place a
mechanism, whereby the findings of any
inspections by regulatory agencies and
auditor observations, including
investigations of standards, hazards,
compliance, misconduct or fraud are
considered and acted upon.
Audit/Risk Management Committee
The Committee comprises of seven Directors,
the Members of the Committee are:
Mr. Uzoma Nwankwo
Mr. Olakunle Alake
Ms. Maryam Bashir
Mr. Graham Clark
-
Chairman
Member
Member
Member
Member
Member
Member
Responsibilities of the Audit/Risk
Management Committee
Risk assessment and risk management are the
responsibility of Dangote Sugar Refinery Plc’s
management. The committee has an
oversight role and in that capacity will receive
reports from management concerning the
Company’s risk management principles,
policies, processes and practices so that it can
review and report to the Board that:
• Adequate systems are in place for the
effective identification and assessment of
all areas of potential material business risk
• Adequate policies, processes and
procedures have been designed and
implemented to manage identified
material risks and
• Appropriate action is undertaken to bring
the identified material risks within the
company’s risk tolerance levels.
Actions the committee will undertake to fulfill
its duties and responsibilities include the
following:
• Ensure the design and implementation of
the risk management framework and
internal control systems, in conjunction
with existing business processes and
systems, to manage the Company’s
material business risk exposures.
ANNUAL REPORT
2014
About Us
•
•
•
Monitor the risk profile of the Company
against the agreed company risk appetite
and risk management framework.
Ensure the establishment of processes and
procedures for the monitoring and
evaluation of the Company’s risk
management systems to assess the
effectiveness of those systems in
minimizing material risks that may impact
adversely on the business objectives of the
Company.
Establish reporting guidelines for
management to report to the committee
on the effectiveness of the management of
the Company’s material business risk
exposures.
•
Evaluate the adequacy and effectiveness
of the Company’s risk management
systems by reviewing the Company’s risk
registers.
•
Review and make recommendations on
the strategic direction, objectives and
effectiveness of the Company’s risk
management policies.
•
Receive reports from management
concerning the implications of new and
emerging risks, legislative or regulatory
initiatives and changes, organizational
change and major initiatives, in order to
assess and evaluate the potential impact
on the strategy and business objectives of
the Company.
Committee are elected annually at the general
meeting. Members of the committee are :
Mr. Segun Olusanya
Chairman/Shareholder Representative
Hadjia Muheebat Dankaka (OON)
Shareholder Representative
-
Mallam Dahiru Ado
Shareholder Representative
-
Mr. Olakunle Alake
-Director
-Director
-Director
Corporate
Governance
Financial
Statements
Responsibilities of the Audit Committee
The Committee carries out all such other
functions as are stipulated by the Companies
and Allied Matters Act. Cap C20 Laws of the
Federal Republic of Nigeria, 2004; in addition
to the responsibilities stated below:
•
Evaluate DSR’s interim and annual
financial statements for reasonableness,
completeness and accuracy and
consistency with information known to
committee members and appropriate
accounting policies and principles prior to
issue and approval by the Board and, with
the internal and external auditors review
the integrity of DSR’s financial reporting
process.
•
Review significant accounting and
reporting issues including complex or
unusual transactions, proposed
adjustments and areas of judgement
involved in the compilation of the
company’s results under accounting
standards or IFRS as well as recent
professional and regulatory
pronouncements especially their impact
on financial statements. The Committee
can use their own system to assess
appropriateness and conformity with IFRS
or relevant accounting standards.
•
Review with management, the internal
auditors and the external auditors the
Audit Committee
In addition to the Board standing committees,
there is the audit committee, which also plays
an important role in the Company. The audit
committee is made up 6 (six) members, three
members of the Board of Directors and 3
members representing the shareholders.
In compliance with the requirement of
Corporate Governance practice, a shareholder
chairs the committee. Members of the audit
Operational
Review
ANNUAL REPORT
2014
35
results of the audit including resolving any
difficulties that were encountered,
adjustments and assessing any improved
reporting suggestions proposed by them.
•
Review with the general counsel the
status of legal matters that may have an
effect on the financial statements and
ensure the financial statements reflect
appropriate accounting principles.
•
Review annual and interim financial
statements prior to filing with regulators to
ensure that statements written by the
management’s concerning their
responsibility for the assessment of the
effectiveness of the internal control
structure and the procedures for financial
reporting are correct.
•
The Board retains responsibility for
implementing recommendations that may
arise from the financial reporting process.
Securities Trading Policy
In compliance with the provisions of Section
14 of the Amended Listing Rules of the
Nigerian Stock Exchange, 2014, the Directors
and Employees of the Company, their
immediate families, that is spouse, son,
daughter, mother or father, and other insiders
as defined under Section 315 of Investments
and Securities Act, (ISA) and Rule 110 (3) of
the SEC Rules and Regulations, are prohibited
from buying or selling shares of the Company
during the period stated below, in order to
avoid occurrence of insider trading of the
stocks of the Company, as defined under the
Investments and Securities Act, 2007.
Consequently, and in accordance with Section
14.4 of the same Rules, compliance of the
Rules by the Employees and Directors of the
Company, will be disclosed in the Company's
unaudited quarterly Financial Statements and
the Audited Financial Statements.
36
Closed Period
The closed period shall be at the time of:
a. Declaration of Financial results (quarterly,
half-yearly and annually);
b. Declaration of Dividends (interim and
final);
c. Issue of Securities by way of Public Offer or
Rights or Bonus, etc.;
d. Any major expansion plans or winning of
bid or execution of new projects;
e. Amalgamation, mergers, takeovers and
buy-back;
f. Disposal of the whole or a substantial part
of the undertaking;
g. Any changes in policies, plans or
operations of the Company that are likely;
to materially affect the prices of the
Securities of the Company;
h. Disruption of operations due to natural
calamities;
i. Litigation/dispute with a material impact;
j. Any information which, if disclosed, in the
opinion of the person disclosing the same
is likely to materially affect the prices of the
securities of the Company.
Period of Closure
The period of closure shall be effective 15
(Fifteen days) prior to the date of any meeting
of the Board of Directors proposed to be held
to consider any of the matters referred to
above or the date of circulation of Agenda
papers pertaining to any of the matters
referred to above, whichever is earlier, up to
24 hours after the sensitive information is
submitted to the Exchange. The trading
window shall thereafter be opened.
Employees and Directors should inform the
Company Secretary in writing of their dealings
with the Company's shares on quarterly basis,
on or before two weeks to the end of the
quarter; and also confirm that they complied
with the Company's Securities Trading Policy.
ANNUAL REPORT
2014
About Us
Operational
Review
Corporate
Governance
Financial
Statements
ANNUAL REPORT
2014
37
Board of Directors
Aliko Dangote, GCON (Centre)
FR: Ms. Bennedikter Molokwu, Mr. Graham Clark, Ms. Maryam Bashir, Alhaji Sani Dangote
BR: Engr. Abdullahi Sule, Mr. Uzoma Nwankwo, Alhaji Abdu Dantata, Mr. Olakunle Alake, Dr. Konyinsola Ajayi, SAN
About Us
Operational
Review
Corporate
Governance
Financial
Statements
ANNUAL REPORT
2014
39
Board Of Directors
40
Aliko Dangote, GCON
Chairman (Non Executive)
Graham Clark
Aliko Dangote is the
f o u n d e r a n d
President/CEO, Dangote
Group. He is a Business
Studies graduate of AlAzahar University, Cairo,
Egypt. For his philanthropy and contributions
to the growth of Nigeria’s economy, he was
awarded: the ZIK Award for professional
leadership (1992), the Sir Ahmadu Bello
International Award, the Cross River State Roll
of Honour Award (2002), the Thisday
Newspapers Award for CEO of the Year
(2005). His national awards include OON in
2000, CON in 2005 and currently GCON. He
occupies various offices in service to the
Federal Government of Nigeria.
Mr. Graham Clark is the
Group Managing
Director of Dangote
Sugar. Mr. Clark is an
Australian, a Certified
Chartered Accountant,
with over 30 years' experience in the African
Sugar Industry. Mr. Clark was the Managing
Director of Ilovo Sugar, the largest sugar
company in Africa before he joined Dangote
Sugar in November 2013. Prior to joining Ilovo
sugar, he was the Finance Director of Lonrho
Sugar Corporation, with presence in Malawi,
Zambia, Swaziland and Mauritius. Mr. Clark is a
fellow of the Australian Institute of Chartered
Accounts.
Abdullahi Sule
Sani Dangote
Dep. Group Managing Director
Non-Executive Director
Engr. Abdullahi Sule has
over 30 years’ experience
in the Oil & Gas, Steel
Production, Machine
Shop Operations and
Sugar industries both in
Nigeria and the US. He was the pioneer MD of
Sadiq Petroleum Nig. Ltd, MD/CEO of African
Petroleum Plc (now Forte Oil), Director for
Business Development (Africa) at Osyka
Corporation, Houston, Texas and Country
Manager (Nigeria) at Tetra Technologies Inc,
Houston, Texas. He was the MD/CEO of
Dangote Sugar Refinery Plc (2007-2009) and
Country Director of Fairport Process
Equipment UK (2008-2011) till he was
reappointed MD/CEO of DSR Plc in December
2011. He became Deputy Group MD of
Dangote Sugar in November 2013. He holds a
BSc. in Mechanical Engineering and MSc. in
Industrial Technology from Indiana State
University, USA.
Alhaji Sani Dangote joined
in 2007. He has been on
the Board of several other
companies including
Nigerian Textile Mills Plc,
Nutra Sweet Limited, Gum
Arabic Limited, Dangote
Textile Mills Limited, Alsan Insurance Brokers,
Dan-Hydro Company Limited, Dansa Food
Processing Company Limited and Dangote
Farms Limited. He has also been Deputy
Chairman of African Gum Arabic Producers
Association and President of Lagos Polo Club.
He was also appointed as Consul-General of
the Romanian Embassy in Nigeria. He is
member of several Chambers of Commerce,
Fellow of the Chartered Institute of Shipping of
Nigeria and President of the Fertilizer
Producers and Suppliers Association. He is an
alumnus of Harvard Business School, Harvard
University.
ANNUAL REPORT
2014
Board Of Directors
About Us
Olakunle Alake
Bennedikter Molokwu
Independent
Operational
Review
Ms. Bennedikter
Molokwu joined in 2007.
She is a Fellow of the
Institute of Directors and
a member of the
Nigerian Bar Association,
International Bar Association, International
Federation of Women Lawyers and Chartered
Institute of Bankers. She received an LLB
degree from the University of Nigeria, Nsukka
in 1975 and was called to the Nigerian Bar in
1976. She also received a Master's degree in
International and Comparative Law from Vrije
Universiteit Brussel, Belgium, in 1978.
Corporate
Governance
Mr. Olakunle Alake is
Fellow of the Institute of
Chartered Accountants
of Nigeria. He started his
c a r e e r
w i t h
P r i c e Wa t e r h o u s e i n
September 1984 and
joined the Dangote Group in July 1997 as
Financial Controller and Head of Strategic
Services. He was promoted to the position of
Group Strategist/Executive Director in 2001.
He received a Bachelor's degree in Civil
Engineering from Obafemi Awolowo
University, Ile- Ife, in 1983.
Konyinsola Ajayi, SAN
Abdu Dantata
Independent
Non–Executive Director
has been a Managing
Partner of the law firm of
Olaniwun Ajayi & Co.,
Legal Counsel in Nigeria
since 1980 and has over
25 years of legal experience in Energy and
Natural Resources, International Business
Transactions, Banking, Capital Markets,
Construction and Engineering, Privatization as
well as Litigation and Arbitration. He is
Member of the International Bar Association,
London, the Nigerian Bar Association and the
Nigerian Economic Summit Group.
Financial
Statements
Alhaji Abdu Garba
Dantata serves as a NonExecutive Director of
Dangote Sugar Refinery
Plc. In addition, he has
served as Executive
Director, Sales and Marketing at Dangote
Group, having responsibility for coordinating
the sales and marketing of all products
manufactured or imported by the Group. He
has been Chairman of Agad Nigeria Limited.
ANNUAL REPORT
2014
41
Board Of Directors
Uzoma Nwankwo
Maryam Bashir
Independent
Mr. Uzoma Nwankwo
joined in 2007. He held
senior positions in
several international
organizations such as
Citicorp North America,
Citibank Nigeria and First
Bank of Nigeria Plc. He was Consultant/Lead
Advisor to many companies locally and
internationally in the areas of financial
management, mergers and acquisitions and
business process improvement. He joined
Dangote Industries Limited in 2005 as
Executive Director, Corporate Finance and
Treasury. He holds: M.Sc. in Agricultural
Engineering (Michigan State University, USA,
1983), MBA with specialization in Financial
and International Business Management
(University of Michigan, USA, 1987).
42
Ms. Maryam Bashir was
appointed on 31
December 2013. She has
17 years of financial and
banking experience. She
received a BSc. in Business Administration
from Ahmadu Bello University, Zaria in 1983,
before obtaining her Master of Business
Administration degree in Finance from
University of Jos in 1990. She commenced her
working career in the banking sector as an
Assistant Supervisor in the Operations
Department of International Merchant Bank
Limited (IMB) and joined the United Bank for
Africa Plc (UBA) between 1994 and 2004,
where she occupied various positions
including the post of an Executive Director.
ANNUAL REPORT
2014
Report of The Directors
About Us
The Directors are pleased to submit their
report together with the audited financial
statements of the Company for the year ended
31st December, 2014. The Company’s
corporate governance statements forms part
of this Director’s Report. In the opinion of the
Directors, the state of the Company’s affairs is
satisfactory, and the financial statements
presented gives a true and fair view of the
state of the Company during the financial year
under review.
1. Business Review And Results For The Year
? ’000
The Company’s revenue for the year was ? 94,855,203
The profit for the year after taxation was ? 11,635,780
Dangote Sugar Refinery Plc’s outlook for 2015
and beyond shows confidently that the
company will continue operational existence
for the foreseeable future as at the time when
the Consolidate Financial Statements were
approved.
2. Principal Activities
The Company refines raw sugar into edible
sugar and sells refined sugar, at its 1.44million
MT/PA Apapa sugar refinery. The company has
begun its backward integration project with a
10 year sugar development plan, to produce
1.5 million MT/PA of sugar from locally grown
sugarcane. The project has commenced with
its acquisition of Savannah Sugar Company
Limited (SSCL) at Numan, in Adamawa State
and other Green Project sites across Nigeria.
3. Legal Form
The Company was incorporated on the 4th of
January, 2005 as a Public Limited Liability
Company. DSR shares were listed in the
Nigerian Stock Exchange, on the 18th March,
2007, and has since being traded on the NSE.
4. Directors Responsibilities
The Directors are responsible for the
preparation of the financial statements, which
give a true and fair view of the state of affairs of
the Company at the end of each financial year
and of the profit or loss for that period, and
comply with the provisions of the Companies
and Allied Matters Act, C20 Laws of the
Federation of Nigeria 2004.
In doing so, the Directors responsibilities
include ensuring that:
a) p r o p e r a c c o u n t i n g r e c o r d s a r e
maintained;
b) applicable accounting standards are
followed;
c) suitable accounting policies are adopted
and consistently applied;
d) judgments and estimates made are
reasonable and prudent;
e) the going concern basis is used, unless it
is inappropriate to presume that the
Company will continue in business and;
f) Internal control procedures are instituted
which as far as is reasonably possible,
safeguard the assets, prevent and detect
fraud and other irregularities.
Operational
Review
Corporate
Governance
Financial
Statements
5. Directors and their Interests
I. The names of all the Directors who held
office during the year under review and,
are currently in office are as follows:
Aliko Dangote (GCON)
Chairman
Mr. Graham Clark
Abdullahi Sule
Dep. Group Managing Director
Sani Dangote
Olakunle Alake
Bennedikter Molokwu
Mr. Uzoma Nwankwo
Alhaji Abdu Dantata
Ms. Maryam Bashir
The Director’s biographical details appear on
pages 40 to 42 of this report. Since the last
Annual General Meeting, there has been no
changes on the DSR’s Board composition. The
appointment of Directors is governed by the
Company’s Articles of Association and the
Company Allied Matters Act, CAP 20. It also
sets out the responsibilities of the Directors.
II.
In accordance with Article 62(b) (c) of the
Company’s Articles of Association, the
Directors retiring by rotation are Messrs,
ANNUAL REPORT
2014
43
Olakunle Alake, Maryam Bashir and
Konyinsola Ajayi, SAN and being eligible,
offer themselves for re-election.
III. No Director has a service contract not
determinable within five years.
IV. The Directors’ interest in the issued share
capital of the Company as recorded in the
Register of members and/or as notified by
them for the purpose of Section 275 of the
Companies and Allied Matters Act, C20
Laws of the Federation of Nigeria 2004 are
as follows:
Directors’ Shareholding
Number of shares held as at:31- Dec- 13 31-Dec- 14
? ’000
? ’000
Aliko Dangote
653,095,014 653,095,014
Graham Clark
Nil
Nil
Abdullahi Sule
1,044,000
1,547,987
Sani Dangote
Nil
Nil
Olakunle Alake
6,864,000 6,864,000
Bennedikter Molokwu1,383,400 1,483,400
Nil
Nil
Uzoma Nwankwo
834,692
384,692
Abdu Dantata
1,044,000 1,044,000
Maryam Bashir
Nil
Nil
6. Corporate Governance
In Dangote Sugar Refinery, our actions and
interactions with our consumers, employees,
government officials, suppliers, shareholders
and other stakeholders reflect our values
beliefs and principles.
Our business is largely self-regulated and we
pride ourselves as leading our peers in the
industry and Nigeria in this regard. In addition
to self-regulation, we are committed to
conducting business in line with best practice,
in accordance with applicable laws and
regulations in Nigeria and the requirements of
the Nigerian Stock Exchange as well as in
compliance with the code of corporate
governance in Nigeria.
The Company complied with these corporate
governance requirements during the year
44
under review as set out below:
Board of Directors
The Board of Directors is responsible for the
oversight of the business, long-term strategy
and objectives, and the oversight of the
Company's risks while evaluating and
directing the implementation of controls and
procedures including, in par ticular,
maintaining a sound system of internal
controls to safeguard shareholders'
investments and the Company's assets. There
are currently Board meetings during each
fiscal year.
Strategy and Management
? Input into the development of the longterm objectives and overall commercial
strategy for the Company.
?
Oversight of the Company's operations.
?
Review of performance in the light of the
Company's strategy, objectives, business
plans and budgets and ensuring that any
necessary corrective action is taken.
?
Extension of the Company's activities into
new business or geographic areas.
?
Any decision to cease to operate all or any
material part of the Company's business.
Structure and Capital
? Changes relating to the Company's capital
structure including reduction of capital,
share issues (except under employee
share plans) and share buy backs.
?
Major changes to the Company's
corporate structure.
?
Changes to the Company's management
and control structure.
?
Any changes to the Company's listing or
its status as a Plc.
Financial Reporting and Controls
? Approval of preliminary announcements if
interim and final results
ANNUAL REPORT
2014
About Us
?
Approval of the annual report and
accounts, including the corporate
governance statement
?
Approval of the dividend policy
?
Declaration of the interim dividend and
recommendation of the final dividend
?
Approval of any significant changes in
accounting policies or practices
?
Approval of treasury policies including
foreign currency
Internal Controls
Ensuring maintenance of a sound system of
internal control and risk management
including:
? Receiving reports from the finance and
risk Committee in, and reviewing the
effectiveness of the Company's risk and
control processes to support its strategy
and objectives
?
Undertaking an annual assessment of
these processes through the finance and
risk Committee and
?
Approving an appropriate statement for
inclusion in the report
Contracts
? Major capital projects
?
?
Contracts which are material strategically
by reason of size, entered into by the
Company in the ordinary course of
business, for example, bank borrowings
and acquisitions or disposals of fixed
assets of amounts above the threshold
reserved for Executive Directors under the
schedule of limits and authorities
Communication
? Approval of resolutions and
corresponding documentation to be put
forward to shareholders at a general
meeting
?
Approval of all circulars and listing
particulars, approval of routine
documents such as periodic circulars
about scrip dividend procedures or
exercise of conversion rights could be
delegated to a Committee
?
Approval of press releases concerning
matters decided by the Board
Operational
Review
Corporate
Governance
Financial
Statements
Board Membership and other
Appointments
Changes to the structure, size and
composition of the Board, following
recommendations from the Board
Governance Committee.
Ensuring adequate succession planning for
the Board and senior management following
recommendations from the Board
?
Appointments to the Board, following
recommendations by the Board
?
Appointment of Non-Executive Directors
including independent Directors
following recommendations by the Board
?
Membership and Chairmanship of Board
Committees
?
Continuation in office of Directors at the
end of their term of office when they are
due to be re-elected by shareholders at
the AGM or otherwise as appropriate.
Major investments including the
acquisition or disposal or interest of more
than (5) percent in the voting shares of
any Company or the making of any
takeover offer
ANNUAL REPORT
2014
45
?
?
Appointment or removal of the Company
secretary following recommendations by
the Board Governance Committee.
Continuation in office of Non-Executive
Directors at any time.
?
Appointment, reappointment or removal
of the external auditor to be put to
shareholders for approval, following the
recommendation of the Audit
Committee.
?
Appointment to Boards of subsidiaries.
Remuneration
? Approval of the remuneration of Directors,
Company Secretary and other Senior
Executives following recommendation by
the Board Governance Committee.
?
?
Approval of the remuneration of the NonExecutive Directors, subject to the articles
of association and shareholder approval
as appropriate following
recommendations by the Board
The introduction of new share incentives
plans or major changes to existing plans,
to be put to shareholders for approval
following recommendations by the Board
Delegation of Authority.
? The division of responsibilities between
the chairman and the chief executive,
which should be in writing.
?
Approval of terms of reference of Board
Committees.
?
Receiving reports from Board Committees
of their activities.
Performance Evaluation Process
? The Board Governance Committee
oversees a formal evaluation process to
assess the composition and performance
of the Board, each Committee, and each
individual Director on an annual basis.
46
The assessment is conducted to ensure
the Board, Committees and individual
members are effective and productive
and to identify opportunities for
improvement and skill set needs.
?
As part of the process, each member
completes a detailed and through
questionnaire. While results are
agg regated and summarized for
discussion purposes, individual responses
are not attributed to any member and are
kept confidential to ensure honest and
candid feedback is received. The
governance and remuneration
Committee reports annually to the full
Board on the outcome of its
assessment. A Director will not be
nominated for re-election unless it is
affirmatively determined that he/she is
substantially contributing to the overall
effectiveness of the Board.
Code of Business Conduct and Code of
Governance for Directors
The Company has a code of business which
defines the Company's mission within a
corporate governance framework. The code is
applicable to all employees as well as
Directors and business partners of the
Company in business conduct. In our bid to
continue to create awareness on the essence
and importance of compliance and ethics to
every aspect of the Company's operations and
to bring compliance front of the mind, the
Company emphasizes on the importance of
compliance and has put in measures to
ensure that the laid out procedures are
followed at all times.
7. Substantial Interest In Shares
The Registrar has advised that according to the
Register of Members on 31st December, 2014,
apart from Dangote Industries Limited with
8,119, 200,00 ordinary shares of 50k each and
Alhaji Aliko Dangote with 653,095,014
ordinary shares of 50k each, no other
shareholder held more than 5% of the issued
share capital of the Company.
ANNUAL REPORT
2014
About Us
8. Fixed Assets
Movements in fixed assets during the year are
shown in Note 14 to the Accounts. In the
opinion of the Directors, the market value of
the Company’s properties is not less than the
value shown in the accounts.
9. Donations And Charitable Gifts
Dangote Sugar Refinery Plc. identifies with the
causes and aspirations of our operational
environment by supporting charitable and
worthy causes in the areas of education,
health, skills acquisition, poverty alleviation
and sports amongst others. During the year
under review, the following donations were
made by the Company: Beneficiary
Nigerian Ports Authority
HSE Committee
Ephraim Consulting
(Corporate Governance
Book Launch)
Surveillance Vehicles
for NAFDAC
?
30,000.00
10. Post Balance Sheet Events
There were no significant developments since
the balance sheet date which could have had
a material effect on the state of affairs of the
Company as at 31st December, 2013 and the
profit for the year ended on that date which
have been adequately recognized.
11. Company's Distributors
The Company's products are sold through
many Distributors across the whole Country.
Operational
Review
Corporate
Governance
Financial
Statements
12. Suppliers
The Company obtains its materials at arm's
length basis from overseas and local suppliers.
Amongst its main overseas and local suppliers
are SUCRES ET DENREES, Broadbent UK,
Belvoir UK and Dangote Agrosacks, Gaslink
Nigeria Ltd, Vitachem Nigeria Ltd, Biochemical
Derivatives Nigeria Ltd, Istabaraqim Nigeria
Ltd, Bulk Commodities Dubai, Fairport UK,
Unatrac, and ErriKs UK, amongst others.
100,000.00
15,960,000.00
16,090,000.00
During the year under review no donation was
made to any political party or organization.
13.Analysis of Shareholding as at 31st December, 2014
Range
1- 10,000
10,001 - 50,000
50,001 - 500,000
500,001 – 1,000,000
1,000,001- 10,000,000
10,000,001- 50,000,000
50,000,001 – 100,000,000
100,000,001 – 500,000,000
500,000,001 – 12,000,000,000
No. of Holders
85,153
12,894
3,524
154
200
32
7
3
2
101,969
Holder%
83.51%
12.64%
3.46%
0.15%
0.20%
0.03%
0.01%
0.00%
0.00%
100.00%
Units Units %
190,394,312
1.58%
267,056,536
2.23%
437,406,850
3.64%
114,692,849
0.96%
539,463,400
4.50%
555,512,995
4.63%
495,619,806
4.13%
627,559,238
5.23%
8,772,295,014 73.10%
12,000,000,000 100.00%
ANNUAL REPORT
2014
47
14. Human Resources
1. Employment and Employees
The Company reviews its employment policy
in line with the needs of business. We remain
an equal opportunities employer, with
employment policies that are not
discriminatory to gender, race, religion or
disability to our existing and potential
employees. We are focused on attracting and
retaining outstanding talents in the Company,
to add value to the company and ensure all
stipulated high performance indices are met.
2. Health, Safety and Environment
The Company continuously strives to improve
its operations to ensure a safe and conducive
working environment. It maintains a high
standard of hygiene in all its premises through
sanitation practices and the regular
fumigation exercises have been further
strengthened by the installation of pest and
rodent control gadgets. Fire-fighting
prevention and drills are carried out
periodically at all our facilities, while firefighting equipment are installed in our offices
and plants.
Health, Safety and Environment workshops
amongst others are organized for all
employees with a broad focus on good
housekeeping to ensure a safe working
environment. The company provides fully paid
nutritionally balanced meals for staff in the
canteen. Regularly, the Company updates its
staff on current issues as they relate to
diseases including HIV/AIDS, High Blood
Pressure and other serious diseases through
health talks, health assessments and
information sharing.
3. Employee Development
The Company continues to place premium on
its human capital development for improved
efficiency of the business and maintenance of
a strategic manpower advantage over
competition. During the year under review,
the Company invested in the training and
development of its workforce through in-
48
house and external training programmes
locally and overseas across all job functions,
while continuously encouraging employees to
develop themselves to their full potentials.
Employees are carried along on developments
in the Company through quar terly
management briefings and provision of
information through the Corporate
Communications and Human Resources/
Admin departments
4. Retirement Benefits
In line with the provisions of the Pension
Reform Act of 2014, the Company operates
the uniform contributory pension scheme for
all employees, independent of its finances.
The fund is managed on behalf of the
employees by Pension Fund Administrators.
The scheme is funded by the employees and
DSR's contributions of 10% each, of the
employee's monthly basic, housing and
transport allowances, remitted to the
employee's choice Pension Fund
Administrator, on a monthly basis.
15. Audit Committee
The Company has an audit Committee set up
in accordance with the provisions of Section
359(3) of the Companies and Allied Matters
Act Cap. C20 Laws of the Federation of Nigeria,
2004. It comprises an equal number of NonExecutive Directors and ordinary shareholders
elected at the Annual General Meetings. It
evaluates annually, the independence and
performance of external auditors, receives the
planning, interim and final audit presentation
from the external auditors and also reviews
with management and the external auditors
the annual audited financial statements
before its submission to the Board. During the
year, the Committee approved the audit plan
and scope of the external auditors for the
financial year and reviewed quarterly and half
yearly financial results before presentation to
the Board. The Committee also received
reports from management on the accounting
system and internal controls framework of the
Company. The members of the statutory audit
ANNUAL REPORT
2014
About Us
Committee during the 2014 financial year are
as follows.
Mr. Segun OlusanyaShareholder/Chairman
Mallam Dahiru AdoShareholder/Member
Hadjia Muheebat Dankaka (OON)Shareholder/Member
Dr. Konyinsola Ajayi, SAN -Director/Member
Ms. Bennedikter Molokwu -Director/Member
Mr. Olakunle Alake
-Director/Member
Federation of Nigeria 2004. Details of the
Audit Committee and its responsibilities are
shown under the Corporate Governance
Report on pages 35 to 36.
16. Auditors
Messrs Akintola Williams Deloitte (Chartered
Accountants), the Auditors to the Company
have indicated their willingness to continue in
office in accordance with Section 357(2) of
the Companies and Allied Matters Act. Cap
C20 Laws of the Federation of Nigeria, 2004.
A resolution will be proposed authorizing the
Directors to fix their remuneration.
Operational
Review
Corporate
Governance
Financial
Statements
By Order Of The Board
The functions of the Audit Committee are as
laid down in Section 359(6) of the Companies
and Allied Matters Act, Cap. C20 Laws of the
Chioma Madubuko
Company Secretary/Legal Adviser
FRC/2014/NBA/00000007451
3rd Floor, Greenview Development
Nig. Ltd Building,
Terminal “E” Apapa Port Complex.
Lagos, Nigeria.
Dated this 31st day of March, 2015
1
2
1. Some of DSR Backward integration equipments
2. DSR and Pan African equipment officials
ANNUAL REPORT
2014
49
50
ANNUAL REPORT
2014
BGrowing
uildina
g Sweet
P r o s pHarvest
erity
About Us
Operational
Review
Financials
Corporate
Governance
Financial
Statements
Cross
Cross section
section of
of shareholders
shareholders at
at an
an AGM
AGM
D A N G O T E SDUAGNAGRO TREE FC IENMEERNY T P P
L CL C AANNNNUUAAL L RREEPPOORRTT 2 0 1 4
51
85
Financial Highlights
Group
2014
? ’000
Group
2013
? ’000
Change
Turnover
94,855,203
103,153,735
-8
Profit before taxation
15,273,152
16,265,159
-6
3,637,373
5,419,227
-33
11,635,779
10,845,932
7
-
10,741
-100
11,635,779
10,856,673
7
12.27
10.52
17
40kobo
60kobo
-33
Share capital
12,000,000
12,000,000
0
Shareholders’ funds per
51,413,720
46,977,941
9
Earnings per share
97kobo
90kobo
8
Dividend
40kobo
60kobo
-33
Taxation
Profit after taxation
Other comprehensive income/
Expenditure
%
Transferred to revenue reserve
Net profit margin
Proposed dividend
50 kobo share data (kobo)
52
ANNUAL REPORT
2014
Statement of Director's Responsibilities in
Relation to the Financial Statements
for the Year Ended 31st December, 2014
About Us
The Directors of Dangote Sugar Refinery Plc are responsible for the preparation of the financial
statements that present fairly the financial position of the Company as at 31st December, 2013,
and the results of its operations, cash flows and changes in equity for the year then ended, in
compliance with International Financial Reporting Standards ("IFRS").
In preparing the financial statements, the Directors are responsible for:
? properly selecting and applying accounting policies;
?
presenting information, including accounting policies, in a manner that provides relevant,
reliable, comparable and understandable information;
?
providing additional disclosures when compliance with the specific requirements in IFRSs
are insufficient, to enable users to understand the impact of particular transactions, and
conditions on the Group's financial position and financial performance; and
?
making an assessment of the Group's ability to continue as a going concern.
Operational
Review
Corporate
Governance
Financial
Statements
The Directors are responsible for:
? designing, implementing and maintaining an effective and sound system of internal controls
throughout the Company;
?
maintaining adequate accounting records that are sufficient to show and explain the
Company's transactions and disclose with reasonable accuracy at any time the financial
position of the Company, and which enable them to ensure that the financial statements of
the Company comply with IFRS;
?
maintaining statutory accounting records in compliance with the legislation of Nigeria and
IFRS;
?
taking such steps as are reasonably available to them to safeguard the assets of the
Company; and preventing and detecting fraud and other irregularities.
The financial statements of the Company for the year ended 31st December, 2014 were
approved by Directors on the 31st day of March, 2015.
SIGNED ON BEHALF OF THE DIRECTORS BY:
________________
Deputy Chief Executive Officer
FRC/2013/ICAN/00000002065
________________
Chief Financial Officer
FRC/2013/ICAN/00000002246
___________________
Chief Operating Officer
FRC/2013/ICAN/00000002214
ANNUAL REPORT
2014
53
Statement of Management's Responsibilities for the
for the Year Ended 31st December, 2014
In accordance with the provisions of the Companies and Allied Matters Act of Nigeria, the
Directors are responsible for the preparation of annual financial statements, which give a true
and fair view of the state of affairs of their Company at the end of the financial period and of their
profit or loss for the year ended. Their responsibilities among others include ensuring that:
I.
The Company keeps proper accounting records that disclose, with reasonable accuracy, the
financial position of the Company and comply with requirements of the Companies and
Allied Matters Act of Nigeria;
II. Appropriate and adequate internal controls are established to safeguard its assets, prevent
and detect fraud and other irregularities;
III. The Company prepares its financial statements using suitable accounting policies supported
by reasonable and prudent judgments and estimates that are consistently applied; and
IV. It is appropriate for the financial statements to be prepared on a going concern basis
The Directors accept responsibility for the annual financial statements, which have been
prepared using appropriate accounting policies supported by reasonable and prudent
judgments and estimates in conformity with International Financial Reporting Standard (IFRS)
and the requirements of the Companies and Allied Matters Act of Nigeria.
The Directors are of the opinion that the financial statements give a true and fair view of the state
of the financial affairs of the Company and of its profit.
The Directors further accept responsibility for the maintenance of accounting records that may
be relied upon in the preparation of financial statements, as well as adequate systems internal
financial control.
Nothing has come to the attention of the Directors to indicate that the Company will not remain
a going concern for at least twelve months from the date of this statement.
Signed on behalf of the Management of the Company by:
____________________________
31st March, 2015
54
____________________________
31st March, 2015
ANNUAL REPORT
2014
Statement of Directors' Responsibilities for the
About Us
The Directors of Dangote Sugar Refinery Plc are responsible for the preparation of the consolidated
financial statements that give a true and fair view of the financial position of the Group and Company
as at 31st December, 2014, and the results of its operations, cash flows and changes in equity for the
period ended, in compliance with International Financial Reporting Standards ("IFRS") and in the
manner required by the Companies and Allied Matters Act of Nigeria, the Financial Reporting Council
of Nigeria Act, 2011.
In preparing the consolidated financial statements, the Directors are responsible for:
?
?
?
?
Operational
Review
Corporate
Governance
Financial
Statements
properly selecting and applying accounting policies;
presenting information, including accounting policies, in a manner that provides relevant,
reliable, comparable and understandable information;
providing additional disclosures when compliance with the specific requirements in IFRSs are
insufficient to enable users to understand the impact of particular transactions, other events and
conditions on the Group and Company's financial position and financial performance;
making an assessment of the Group's ability to continue as a going concern.
The Directors are responsible for:
?
?
?
?
designing, implementing and maintaining an effective and sound system of internal controls
throughout the Group and Company;
maintaining adequate accounting records that are sufficient to show and explain the Group's and
company's transactions and disclose with reasonable accuracy at any time the financial position
of the Group and Company, and which enable them to ensure that the financial statements of the
Group and Company comply with IFRS;
maintaining statutory accounting records in compliance with the legislation of Nigeria and IFRS;
taking such steps as are reasonably available to them to safeguard the assets of the Group and
Company; and
preventing and detecting fraud and other irregularities.
Going Concern:
The Directors have made an assessment of the Group's and Company's ability to continue as a going
concern and have no reason to believe the Group and Company will not remain a going concern in the
year ahead.
The consolidated financial statements of the Group and Company for the year ended 31st December,
2014 were approved by directors on 31st March, 2015.
On behalf of the Directors of the Group
_________________________
Director
________________________
Director
ANNUAL REPORT
2014
55
Report Of The Audit Committee
To the Members of Dangote Sugar Refinery Plc
for the year ended 31st December, 2014
In compliance with Section 359(6) of the Companies and Allied Matters Act, Cap C20 LFN, 2004,
we have:
a. reviewed the scope and planning of the audit requirements;
b. reviewed the external Auditors' Memorandum of Recommendations on Accounting Policies
and Internal Controls, together with Management Responses;
c. ascertained that the accounting and reporting policies of the Company for the year ended
31st December, 2014 are in accordance with legal requirements and agreed ethical
practices.
In our opinion, the scope and planning of the audit for the year ended 31st December, 2014
were adequate and the Management Responses to the Auditors findings were satisfactory.
_________________________
Segun Olusanya
Chairman, Audit Committee
Dated this 22nd day of April, 2015
Members of the Audit Committee
Mr. Segun Olusanya
Mallam Dahiru Ado
Hadjia Muheebat Dankaka, OON
Mr. Olakunle Alake
56
ANNUAL REPORT
2014
Report of the Independent Auditors
to the Members of Dangote Sugar Refinery Plc
Akintola Williams Deloitte
235, Ikorodu Road, Ilupeju
P.O.Box 965, Marina
Lagos, Nigeria
Tel: +234 (1) 271 7800
Fax: +234 (1) 2717801
www.deliotte.com/ng
Report on the Financial Statements
We have audited the accompanying consolidated and separate financial statements of Dangote Sugar
Refinery Plc (“the Company”) and its subsidiary (together referred to as “the Group”) which comprise the
consolidated and separate statements of financial position as at 31st December 2014, the consolidated and
separate statements of profit or loss and other comprehensive income, consolidated and separate
statements of changes in equity, consolidated and separate statements of cash flows for the year then
ended, a summary of significant accounting policies and other explanatory information.
Directors' Responsibility for the Financial Statements
The Directors are responsible for the preparation and fair presentation of these consolidated and separate
financial statements in accordance with the Companies and Allied Matters Act CAP C20 LFN 2004, the
Financial Reporting Council of Nigeria Act, 2011, the International Financial Reporting Standards and for
such internal control as the Directors determine is necessary to enable the preparation of consolidated and
separate financial statements that are free from material misstatement, whether due to fraud or error.
About Us
Operational
Review
Corporate
Governance
Financial
Statements
Auditors' Responsibility
Our responsibility is to express an opinion on these consolidated and separate 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 about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditors' judgment, 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 auditors consider internal controls relevant to the entity's preparation and fair
presentation of the financial statements in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal
control. 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
audit opinion.
Opinion
In our opinion, the consolidated and separate financial statements give a true and fair view of the financial
position of Dangote Sugar Refinery Plc and its Subsidiary as at 31st December, 2014 and of its financial
performance and cash flows for the year then ended in accordance with the International Financial
Reporting Standards, the Companies and Allied Matters Act CAP C20 LFN 2004 and the Financial Reporting
Council of Nigeria Act, 2011.
Other reporting responsibilities
In accordance with the Sixth Schedule of Companies and Allied Matters Act CAP C20 LFN 2004 we expressly
state that:
i)
We have obtained all the information and explanation which to the best of our knowledge and belief
were necessary for the purpose of our audit.
ii)
The Group has kept proper books of account, so far as appears from our examination of those books.
iii)
The consolidated and separate statements of financial position and the consolidated and separate
statements of profit or loss and other comprehensive income are in agreement with the books of
account.
Onwu Ijeoma – FRC/2013/ICAN/00000001364
For: Akintola Williams Deloitte
Chartered Accountants
Lagos, Nigeria
14th April, 2015.
ANNUAL REPORT
2014
57
Consolidated and Separate Statement of Profit or
Loss and other Comprehensive Income
Group
Group
Company Company
Year ended Year ended Year ended Year ended
Note 31-Dec-14 31-Dec-13 31-Dec-14 31-Dec-13
? '000
? '000
? '000
? '000
Continuing operations
Revenue
Cost of sales
Gross profit
6 94,855,203 103,153,735 94,103,677 102,467,361
7 (76,227,193) (78,555,261) (72,369,075) (75,497,463)
18,628,010 24,598,474 21,734,602 26,969,898
Selling and distribution expense
Administrative expenses
Investment income
Other income
7.1 (1,955,669) (3,434,861) (1,835,803) (3,418,895)
8 (6,644,389) (8,710,872) (4,955,453) (7,201,142)
9
285,594
1,491,638
285,594 1,491,637
10
5,066,049
2,387,944
2,289,193 2,258,019
Profit from operating activities
Finance costs
9.1
Profit before tax
15,379,595
(106,443)
16,332,323
(67,164)
17,518,133 20,099,517
(45,292)
-
15,273,152
16,265,159
17,472,841 20,099,517
Income tax expense
11
(3,637,373) (5,419,227) (5,564,151) (6,561,905)
Profit for the year
12
11,635,779
10,845,932 11,908,690 13,537,612
Other comprehensive expenditure:
items that will not be reclassified
subsequently to profit or loss:
Actuarial gain/ (loss) on gratuity
scheme (net of tax)
27.5
Total other comprehensive income/(loss) for the year
Total comprehensive income for the year
-
-
-
-
-
10,741
10,741
-
10,741
10,741
11,635,779
10,856,673 11,908,690 13,548,353
11,649,425
(13,646)
11,635,779
10,980,516 11,908,690 13,537,612
(134,584)
10,845,932 11,908,690 13,537,612
Profit for the year attributable to:
Owners of parent
Non-controlling interest
Total comprehensive income for the year attributable to:
Owners of parent
11,649,425
(13,646)
11,635,779
Earnings per share
Basic and diluted earnings
per share (Kobo)
13
97
10,991,257 11,908,690 13,548,353
(134,584)
10,856,673 11,908,690 13,548,353
90
99
The accompanying notes and IFRS statements on pages 63 to 107 form an integral part of these
consolidated and separate financial statements.
58
ANNUAL REPORT
2014
113
Consolidated and Separate Statement of Financial Position
About Us
Group
31-Dec-14
? '000
Group
31-Dec-13
? '000
Company Company
31-Dec-14 31-Dec-13
? '000
? '000
14
15
16
17
19
11.4
50,472,720
263,885
189,337
1,122,679
2,488,822
54,537,443
41,847,307
301,711
109,693
487,215
555,465
43,301,391
29,346,717 26,250,037
203,752
256,912
109,693
3,214,923 3,214,923
32,765,392 29,831,565
20
17
21
16
18
22
15,098,890
675,686
14,012,843
1,409,315
864,647
6,202,478
38,263,859
11,826,595
12,124
19,273,525
290,877
8,455,366
39,858,487
14,047,767 11,097,891
42,083,720 38,027,061
1,409,315
290,877
864,647
6,116,963 7,864,788
64,522,412 57,280,617
92,801,302
83,159,878
97,287,804 87,112,182
23
24
25
6,000,000
6,320,524
39,288,074
51,608,598
6,000,000
6,320,524
34,838,649
47,159,173
6,000,000 6,000,000
6,320,524 6,320,524
46,205,678 41,496,988
58,526,202 53,817,512
25.1
(194,878)
51,413,720
(181,232)
46,977,941
58,526,202 53,817,512
LIABILITIES
Borrowings
Deferred tax liability
Total non-current liabilities
26
11.4
4,611,315
4,611,315
385,052
4,741,717
5,126,769
4,229,514 4,359,916
4,229,514 4,359,916
11.3
27.4
28
26
29
5,936,185
1,527,748
25,226,985
2,385,052
1,700,297
36,776,267
4,756,600
5,910,930 4,737,924
1,356,067
1,311,654 1,356,067
23,073,810 23,609,260 21,508,166
536,094
2,000,000
1,332,597
1,700,244 1,332,597
31,055,168 34,532,088 28,934,754
Total liabilities
41,387,582
36,181,937
38,761,602 33,294,670
Total equity and liabilities
92,801,302
83,159,878
97,287,804 87,112,182
Assets
Note
Non-current assets
Property, plant and equipment
Intangible assets
Other assets
Biological assets
Investments
Deferred tax assets
Total non-current assets
Current assets
Inventories
Biological assets
Trade and other receivables
Other assets
Held for sale investment in subsidiary
Cash and cash equivalents
Total current assets
Total assets
EQUITY
Share capital
Share premium
Retained earnings
Current tax liabilities
Retirement benefit obligation
Trade and other payables
Borrowings
Other liabilities
Total current liabilities
Operational
Review
Corporate
Governance
Financial
Statements
These financial statements were approved and authorised for issue by the Board of Directors on 31st
March, 2015 and were signed on its behalf by:
________________________
Abdullahi Sule
Deputy Chief Executive Officer
FRC/2013/NSE/00000002065
_______________________
Olakunle Alake
Chief Operating Officer
FRC/2013/ICAN/00000002214
____________________
Modupe Oguntade
FRC/2013/ICAN/00000002246
The accompanying notes and non-IFRS statements on pages 63 to 107 form an integral part of these
consolidated and separate financial statements.
ANNUAL REPORT
2014
59
Consolidated Statement of Changes in Equity
Share
Capital
? '000
Group
Balance as at
1st January 2012
6,000,000
Profit for the year
Other comprehensive
income (net of tax)
Actuarial loss on gratuity
Total comprehensive
income for the year
Dividend paid
Balance as at
31st December 2012
Profit for the year
Share
Premium
? '000
Attributable
to equity
Retained holders of
Earnings the parent
? '000
? '000
6,320,524
26,813,185
10,796,416
39,133,709
10,796,416
-
(60,966)
(60,966)
(60,966)
(60,966)
- 10,735,450 10,735,450
- (3,600,000) (3,600,000)
Noncontrolling
interests
? '000
Total
? '000
- 39,133,709
- 21,592,832
-
(121,932)
(121,932)
- 10,735,450
- (3,600,000)
6,000,000
6,320,524
33,948,635
10,980,516
46,269,159
10,980,516
- 46,269,158
(134,584) 10,845,932
-
-
10,741
10,741
44,939,892
57,260,416
(134,584) 57,125,831
Other comprehensive
loss (net of tax)
Actuarial gain gratuity
10,741
Total comprehensive
income for the year
Effect of acquisition
of subsidiaries under
common control
-
- (4,101,243) (4,101,243)
(46,648) (4,147,891)
Dividend paid
-
- (6,000,000) (6,000,000)
- (6,000,000)
Balance as at
31st December, 2013
6,000,000
6,320,524
Profit for the year
34,838,649
47,159,173
(181,232) 46,977,940
11,649,425
11,649,425
(13,646) 11,635,780
-
-
Other comprehensive
income for the year
-
-
Dividend paid (Note 25)
-
- (7,200,000) (7,200,000)
Balance as at
31st December, 2014
60
-
6,000,000
6,320,524
39,288,074
51,608,598
ANNUAL REPORT
2014
-
-
- (7,200,000)
(194,878) 51,413,720
Separate Statement of Changes in Equity
About Us
Company
Balance as at 1st January, 2012
Profit for the year
Share
Capital
? '000
6,000,000
Share
Retained
Premium
Earnings
? '000
? '000
6,320,524 26,813,185
10,796,416
Attributable
to equity
holders of
the parent
? '000
39,133,709
10,796,416
Operational
Review
Total
? '000
Corporate
Governance
39,133,709
10,796,416
Financial
Statements
Other comprehensive income (net of tax)
Actuarial loss on gratuity
-
-
Dividend paid
-
- 10,735,450 10,735,450 10,735,450
- (3,600,000) (3,600,000) (3,600,000)
Balance as at Ist January, 2013
6,000,000
Profit for the year
Other comprehensive loss (net of tax)
(60,966)
(60,966)
6,320,524
-
33,948,635
13,537,613
10,741
(60,966)
(60,966)
(60,966)
(60,966)
46,269,159 46,269,159
13,537,613 13,537,613
Actuarial gain gratuity
-
-
Dividend paid
-
- 13,548,354 13,548,354 13,548,354
- (6,000,000) (6,000,000) (6,000,000)
Balance as at 31st December, 2013
Profit for the year
Dividend paid (Note 25)
6,000,000
-
Balance as at 31st December, 2014
6,000,000
6,320,524
41,496,988
10,741
53,817,512
10,741
53,817,512
- 11,908,690 11,908,690 11,908,690
- (7,200,000) (7,200,000) (7,200,000)
6,320,524
46,205,678
58,526,202 58,526,202
ANNUAL REPORT
2014
61
Consolidated and Separate Statement of Cash Flows
Group
31-Dec-14
? '000
Group
31-Dec-13
? '000
Company
31-Dec-14
? '000
Company
31-Dec-13
? '000
11,635,779
10,845,932
11,908,690
13,537,612
11.1
14
15
3,637,373
3,572,263
115,705
5,419,227
2,885,292
-
5,564,151
2,685,729
85,638
6,561,905
1,725,252
-
12
15,224
79,062
15,224
63,551
21
(1,033,748)
342,165
34,936
139,168
Note
Cash flows for operating activities
Profit for the year
Adjustments for non-cash income and expenses:
Income tax expense recognised in
profit and loss
Depreciation
Amortisation of intangible assets
Impairment loss on property, plant
and equipment
(Write back) /Impairment loss
recognised on trade receivables
Impairment loss recognised on
other receivables
Fair value adjustment on biological assets
Finance cost
Investment income
Transfer of asset
Disposal
Actuarial gain on gratuity scheme
Effect of acquisition under common control
21
17
9.1
9
14
14
27.5
Changes in operating assets and liabilities:
(Increase)/decrease in inventories
Increase in biological asset
(Increase)/decrease in trade & other receivables
(Increase)/decrease in other assets
(Increase)/decrease in Held for sale
investment in subsidiary
Increase/(decrease) in trade and other payables
Increase/(decrease) in employee benefits
Cash generated from operations
Retirement benefits
Interest Paid
Tax paid in the year
11.3
Net cash from operating activities
Cash flows from investing activities
Purchase of investment in subsidiary company
Purchase of Property, plant and equipment
Purchase of intangible asset
Interest received
Non cash adjustment
Payment in respect of acquisition
under common control
75,629
155,725
(1,501,971)
373,915
106,443
67,164
(285,594) (1,491,638)
54,781
7,506
15,344
- (15,178,674)
(3,272,296)
202,948
6,218,802
(1,198,082)
2,203,709
(873,254)
5,775,944
49,529
(864,647)
2,520,874
171,680
20,123,888
(2,611,105)
95,195
8,208,313
(864,647)
2,468,741
(44,413)
13,614,709
(4,176,748)
95,195
6,954,658
(106,443)
(4,521,548)
(5,877,803)
(45,292)
(4,521,548)
(5,877,803)
15,495,897
2,330,510
9,047,869
1,076,855
14 (12,220,406) (10,280,806)
15
(77,879)
(301,711)
9
285,594
1,491,638
32.1
Net cash used in investing activities
14,421
342,166
45,292
54,781
(285,595) (1,491,637)
43,672
15,344
7,506
-
-
(3,214,923)
(12,012,691) (12,305,802)
(2,949,877)
2,923,412
(4,106,014) (12,884,872)
(1,008,745)
49,529
- (3,214,923)
(5,848,811) (10,195,311)
(32,478)
(256,912)
285,595
1,491,637
-
-
(5,595,694) (12,175,509)
Cash flows from financing activities
Dividends paid
Loan obtained during the year
Payment of loans
25
26
26
Net cash used in financing activities
Net increase / (decrease) in cash
and cash equivalents
Cash and cash equivalents at
beginning of year
Cash and cash equivalents at
end of December 2014
62
(7,200,000)
2,000,000
(536,094)
(6,000,000)
(532,784)
(7,200,000) (6,000,000)
2,000,000
-
(5,736,094)
(6,532,784)
(5,200,000) (6,000,000)
(2,252,888) (16,508,076) (1,747,8245) (17,098,654)
22
8,455,366
24,963,442
7,864,788
24,963,442
22
6,202,478
8,455,366
6,116,963
7,864,788
ANNUAL REPORT
2014
About Us
1. General Information
Dangote Sugar Refinery Plc (the Company) was
incorporated as a public limited liability
company on 4th January, 2005 and commenced
operations on 1st January, 2006. The Group
became quoted on the Nigerian Stock.
Exchange in March, 2007 and its current
shareholding is 68% by Dangote Industries
Limited and 32% by the Nigerian public.
The ultimate controlling party is Dangote
Industries Limited.
The registered address of the Group is located at
GDNL Administrative Building, Terminal E, Shed
20 NPA Apapa Wharf Complex, Apapa, Lagos.
The consolidated financial statements of the
Group for the year ended 31st December, 2014
comprises the Group and its subsidiary Savannah Sugar Company Limited.
1.1. The Principal Activity
The principal activity of the Group is the refining
of raw sugar into edible sugar and the selling of
refined sugar. The Group's products are sold
through distributors across the country.
1.2. Going Concern Status
The Group has consistently been making profits.
The Directors believe that there is no intention or
threat from any party to curtail significantly its
line of business in the foreseeable future. Thus,
these financial statements are prepared on a
going concern basis.
1.3. Operating Environment
Emerging markets such as Nigeria are subject to
different risks than more developed markets,
including economic, political and social, and
legal legislative risks. As has happened in the
past, actual or perceived financial problems or an
increase in the perceived risks associated with
investing in emerging economies could
adversely affect the investment climate in Nigeria
and the country's economy in general. The global
financial system continues to exhibit signs of
deep stress and many economies around the
world are experiencing lesser or no growth than
in prior years. These conditions could slow or
disrupt Nigeria's economy, adversely affecting
the Group's access to capital and cost of capital
for the Group and more generally, its business,
results of operation, financial condition and
prospects.
2. Financial Period
These financial statements cover the financial
year from 1st January, 2014 to 31th December,
2014, with restated comparative for year end 1st
January, 2013 to 31st December ,2013.
Operational
Review
Corporate
Governance
Financial
Statements
3.
Application of new and revised
International Financial Reporting Standards
(IFRSs)
3.1 New and revised IFRSs/IFRICs affecting
amounts reported and/or disclosures in this
financial statements
In the current year, the Group has applied a
number of new and revised IFRSs issued by the
International Accounting Standards Board
(IASB) that are mandatorily effective for an
accounting period that begins on or after 1st
January, 2014.
Amendments to IFRS 10, IFRS 12 and IAS 27
Investment Entities
The Group has applied the amendments to IFRS
10, IFRS 12 and IAS 27 Investment Entities for the
first time in the current year. The amendments to
IFRS 10 define an investment entity and require a
reporting entity that meets the definition of an
investment entity not to consolidate its
subsidiaries but instead to measure its
subsidiaries at fair value through profit or loss in
its consolidated and separate financial
statements. To qualify as an investment entity, a
reporting entity is required to:
•
•
obtain funds from one or more investors for
the purpose of providing them with
investment management services; commit
to its investor(s) that its business purpose is
to invest funds solely for returns from capital
appreciation, investment income, or both;
and
measure and evaluate performance of
substantially all of its investments on a fair
value basis.
Consequential amendments have been made to
IFRS 12 and IAS 27 to introduce new disclosure
requirements for investment entities.
ANNUAL REPORT
2014
63
As the Company is not an investment entity
(assessed based on the criteria set out in IFRS 10
as at 1st January, 2014), the application of the
amendments has had no impact on the
disclosures or the amounts recognised in the
Group's consolidated financial statements.
Amendments to IAS 32 Offsetting Financial
Assets and Financial Liabilities
The Group has applied the amendments to IAS
32 Offsetting Financial Assets and Financial
Liabilities for the first time in the current year. The
amendments to IAS 32 clarify the requirements
relating to the offset of financial assets and
financial liabilities. Specifically, the amendments
clarify the meaning of 'currently has a legally
enforceable right of set-off' and 'simultaneous
realisation and settlement'.
The amendments have been applied
retrospectively. As the Group does not have any
financial assets and financial liabilities that
qualify for offset, the application of the
amendments has had no impact on the
disclosures or on the amounts recognised in the
Group's consolidated financial statements. The
Group has assessed whether certain of its
financial assets and financial liabilities qualify for
offset based on the criteria set out in the
amendments and concluded that the application
of the amendments has had no impact on the
amounts recognised in the Group's consolidated
financial statements.
Amendments to IAS 36 Recoverable Amount
Disclosures for Non-Financial Assets
36 Recoverable Amount Disclosures for NonFinancial Assets for the first time in the current
year. The amendments to IAS 36 remove the
requirement to disclose the recoverable amount
of a cash-generating unit (CGU) to which
goodwill or other intangible assets with
indefinite useful lives had been allocated when
there has been no impairment or reversal of
impairment of the related CGU. Furthermore, the
amendments introduce additional disclosure
requirements applicable to when the
recoverable amount of an asset or a CGU is
measured at fair value less costs of disposal.
These new disclosures include the fair value
hierarchy, key assumptions and valuation
techniques used which are in line with the
64
disclosure required by IFRS 13 Fair Value
Measurements.
The application of these amendments has had
no material impact on the disclosures in the
Group's consolidated financial statements.
Amendments to IAS 39 Novation of
Derivatives and Continuation of Hedge
Accounting
39 Novation of Derivatives and Continuation of
Hedge Accounting for the first time in the current
year. The amendments to IAS 39 provide relief
from the requirement to discontinue hedge
accounting when a derivative designated as a
hedging instrument is notated under certain
circumstances. The amendments also clarify that
any change to the fair value of the derivative
designated as a hedging instrument arising from
the novation should be included in the
assessment and measurement of hedge
effectiveness.
The amendments have been applied
retrospectively. As the Group does not have any
derivatives that are subject to novation, the
application of these amendments has had no
impact on the disclosures or on the amounts
recognised in the Group's consolidated financial
statements.
IFRIC 21 Levies
The Group has applied IFRIC 21 Levies for the first
time in the current year. IFRIC 21 addresses the
issue as to when to recognise a liability to pay a
levy imposed by a government. The
Interpretation defines a levy, and specifies that
the obligating event that gives rise to the liability
is the activity that triggers the payment of the levy,
as identified by legislation. The Interpretation
provides guidance on how different levy
arrangements should be accounted for, in
particular, it clarifies that neither economic
compulsion nor the going concern basis of
financial statements preparation implies that an
entity has a present obligation to pay a levy that
will be triggered by operating in a future period.
IFRIC 21 has been applied retrospectively. The
application of this Interpretation has had no
material impact on the disclosures or on the
amounts recognised in the Group's consolidated
ANNUAL REPORT
2014
About Us
3.2 New and revised IFRSs in issue but not yet
effective
The Group has not applied the following new
and revised IFRSs that have been issued but are
not yet effective:
IFRS 9
IFRS 15
Amendments to IFRS 11
Amendments to IAS 16 and IAS 38
Amendments to IAS 16 and IAS 41
Amendments to IAS 19
Amendments to IFRSs
Amendments to IFRSs
Financial Instruments 5
Revenue from Contracts with Customers 4
Accounting for Acquisitions of Interests in Joint
Operations 3
Clarification of Acceptable Methods of
Depreciation and Amortisation 3
Agriculture: Bearer Plants 3
Defined Benefit Plans: Employee Contributions 1
Annual Improvements to IFRSs 2010-2012
Cycle 2
Cycle 1
1 Effective for annual periods beginning on or
after 1st July, 2014, with earlier application
permitted.
after 1st July ,2014, with limited exceptions.
Earlier application is permitted.
after 1st January, 2016, with earlier
application permitted.
IFRS 9 Financial Instruments
IFRS 9 issued in November 2009 introduced new
requirements for the classification and
measurement of financial assets. IFRS 9 was
subsequently amended in October 2010 to
include requirements for the classification and
measurement of financial liabilities and for
derecognition, and in November 2013 to include
the new requirements for general hedge
accounting. Another revised version of IFRS 9
was issued in July, 2014 mainly to include
a) impairment requirements for financial assets
and
b) limited amendments to the classification
and measurement requirements by
introducing a ‘fair value through other
c o m p r e h e n s i v e i n c o m e ’ ( F V TO C I )
measurement category for certain simple
debt instruments.
Operational
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Financial
Statements
Key requirements of IFRS 9:
All recognised financial assets that are within the
scope of IAS 39 Financial Instruments:
Recognition and Measurement are required to
be subsequently measured at amortised cost or
fair value. Specifically, debt investments that are
held within a business model whose objective is
to collect the contractual cash flows, and that
have contractual cash flows that are solely
payments of principal and interest on the
principal outstanding are generally measured at
amortised cost at the end of subsequent
accounting periods. Debt instruments that are
held within a business model whose objective is
achieved both by collecting contractual cash
flows and selling financial assets, and that have
contractual terms of the financial asset give rise
on specified dates to cash flows that are solely
payments of principal and interest on the
principal amount outstanding, are measured at
FVTOCI. All other debt investments and equity
investments are measured at their fair value at
the end of subsequent accounting periods. In
addition, under IFRS 9, entities may make an
irrevocable election to present subsequent
changes in the fair value of an equity investment
(that is not held for trading) in other
comprehensive income, with only dividend
income generally recognised in profit or loss.
With regard to the measurement of financial
liabilities designated as at fair value through
profit or loss, IFRS 9 requires that the amount of
change in the fair value of the financial liability
that is attributable to changes in the credit risk of
that liability is presented in other comprehensive
income, unless the recognition of the effects of
changes in the liability’s credit risk in other
comprehensive income would create or enlarge
an accounting mismatch in profit or loss.
Changes in fair value attributable to a financial
liability’s credit risk are not subsequently
reclassified to profit or loss. Under IAS 39, the
ANNUAL REPORT
2014
65
entire amount of the change in the fair value of
the financial liability designated as fair value
through profit or loss is presented in profit or
loss.
In relation to the impairment of financial assets,
IFRS 9 requires an expected credit loss model, as
opposed to an incurred credit loss model under
IAS 39. The expected credit loss model requires
an entity to account for expected credit losses
and changes in those expected credit losses at
each reporting date to reflect changes in credit
risk since initial recognition. In other words, it is
no longer necessary for a credit event to have
occurred before credit losses are recognised.
The new general hedge accounting
requirements retain the three types of hedge
accounting mechanisms currently available in
IAS 39. Under IFRS 9, greater flexibility has been
introduced to the types of transactions eligible
for hedge accounting, specifically broadening
the types of instruments that qualify for hedging
instruments and the types of risk components of
non-financial items that are eligible for hedge
accounting. In addition, the effectiveness test has
been overhauled and replaced with the principle
of an ‘economic relationship’. Retrospective
assessment of hedge effectiveness is also no
longer required. Enhanced disclosure
requirements about an entity’s risk management
activities have also been introduced.
The directors anticipate that the application of
IFRS 9 in the future may have a material impact
on amounts reported in respect of the Group’s
financial assets and financial liabilities. However,
it is not practicable to provide a reasonable
estimate of the effect of IFRS 9 until the Group
undertakes a detailed review.
IFRS 15 Revenue from Contracts with
Customers
In May 2014, IFRS 15 was issued which
establishes a single comprehensive model for
entities to use in accounting for revenue
arising from contracts with customers. IFRS 15
will supersede the current revenue
recognition guidance including IAS 18
Revenue, IAS 11 Construction Contracts and
the related Interpretations when it becomes
effective.
66
The core principle of IFRS 15 is that an entity
should recognise revenue to depict the transfer
of promised goods or services to customers in an
amount that reflects the consideration to which
the entity expects to be entitled in exchange for
those goods or services. Specifically, the
Standard introduces a 5-step approach to
revenue recognition:
Step 1: Identify the contract(s) with a customer.
Step 2: Identify the performance obligations in
the contract.
Step 3: Determine the transaction price.
Step 4: Allocate the transaction price to the
performance obligations in the contract.
Step 5: Recognise revenue when (or as) the
entity satisfies a performance obligation.
Under IFRS 15, an entity recognises revenue
when (or as) a performance obligation is
satisfied, i.e. when ‘control’ of the goods or
services underlying the particular performance
obligation is transferred to the customer. Far
more prescriptive guidance has been added in
IFRS 15 to deal with specific scenarios.
Furthermore, extensive disclosures are required
by IFRS 15.
The Directors do not anticipate that the
application of IFRS 15 will have a material impact
on the Group’s consolidated financial
statements.
Amendments to IFRS 11 Accounting for
Acquisitions of Interests in Joint Operations
The amendments to IFRS 11 provide guidance
on how to account for the acquisition of a joint
operation that constitutes business as defined in
IFRS 3 Business Combinations. Specifically, the
amendments state that the relevant principles
on accounting for business combinations in IFRS
3 and other standards (e.g. IAS 36 Impairment of
Assets regarding impairment testing of a cashgenerating unit to which goodwill on acquisition
of a joint operation has been allocated) should
be applied. The same requirements should be
applied to the formation of a joint operation if
and only if an existing business is contributed to
the joint operation by one of the parties that
participate in the joint operation.
A joint operator is also required to disclose the
relevant information required by IFRS 3 and
other standards for business combinations.
ANNUAL REPORT
2014
About Us
The amendments to IFRS 11 apply prospectively
for annual periods beginning on or after 1
January 2016. The directors do not anticipate that
the application of these amendments to IFRS 11
will have a material impact on the Group’s
consolidated financial statements.
Amendments to IAS 16 and IAS 38 Clarification
of Acceptable Methods of Depreciation and
Amortisation
The amendments to IAS 16 prohibit entities from
using a revenue-based depreciation method for
items of property, plant and equipment. The
amendments to IAS 38 introduce a rebuttable
presumption that revenue is not an appropriate
basis for amortisation of an intangible asset. This
presumption can only be rebutted in the
following two limited circumstances:
a) when the intangible asset is expressed as a
measure of revenue; or
b) when it can be demonstrated that revenue
and consumption of the economic benefits
of the intangible asset are highly correlated.
The amendments apply prospectively for annual
periods beginning on or after 1st January, 2016.
Currently, the Group uses the straight-line
method for depreciation and amortisation for its
property, plant and equipment, and intangible
assets respectively. The Directors believe that the
straight-line method is the most appropriate
method to reflect the consumption of economic
benefits inherent in the respective assets and
accordingly, the directors do not anticipate that
the application of these amendments to IAS 16
and IAS 38 will have a material impact on the
Group’s consolidated financial statements.
Amendments to IAS 16 and IAS 41 Agriculture:
Bearer Plants
The amendments to IAS 16 and IAS 41 define a
bearer plant and require biological assets that
meet the definition of a bearer plant to be
accounted for as property, plant and equipment
in accordance with IAS 16, instead of IAS 41. The
produce growing on bearer plants continues to
be accounted for in accordance with IAS 41.
application of these amendments to IAS 16 and
IAS 41 will have a material impact on the Group’s
consolidated financial statements as the Group
is not engaged in agricultural activities.
Amendments to IAS 19 Defined Benefit Plans:
Employee Contributions
The amendments to IAS 19 clarify how an entity
should account for contributions made by
employees or third parties to defined benefit
plans, based on whether those contributions are
dependent on the number of years of service
provided by the employee.
Operational
Review
Corporate
Governance
Financial
Statements
For contributions that are independent of the
number of years of service, the entity may either
recognise the contributions as a reduction in the
service cost in the period in which the related
service is rendered, or to attribute them to the
employees’ periods of service using the
projected unit credit method; whereas for
contributions that are dependent on the number
of years of service, the entity is required to
attribute them to the employees’ periods of
service.
application of these amendments to IAS 19 will
have a significant impact on the Group’s
consolidated financial statements.
Cycle.
The Annual Improvements to IFRSs 2010-2012
Cycle include a number of amendments to
various IFRSs, which are summarised below.
The amendments to IFRS 2
(I) change the definitions of ‘vesting condition’
and ‘market condition’; and
(ii) add definitions for ‘performance condition’
and ‘service condition’ which were
previously included within the definition of
‘vesting condition’. The amendments to IFRS
2 are effective for share-based payment
transactions for which the grant date is on or
after 1st July, 2014.
The amendments to IFRS 3 clarify that
contingent consideration that is classified as an
asset or a liability should be measured at fair
value at each reporting date, irrespective of
whether the contingent consideration is a
financial instrument within the scope of IFRS 9 or
IAS 39 or a non-financial asset or liability.
Changes in fair value (other than measurement
period adjustments) should be recognised in
profit or loss. The amendments to IFRS 3 are
ANNUAL REPORT
2014
67
effective for business combinations for which the
acquisition date is on or after 1st July, 2014.
The amendments to IFRS 8
(I) require an entity to disclose the judgements
made by management in applying the
aggregation criteria to operating segments,
including a description of the operating
segments aggregated and the economic
indicators assessed in determining whether
the operating segments have ‘similar
economic characteristics’; and
(ii) clarify that a reconciliation of the total of the
reportable segments’ assets to the entity’s
assets should only be provided if the
segment assets are regularly provided to the
chief operating decision-maker.
The amendments to the basis for conclusions of
IFRS 13 clarify that the issue of IFRS 13 and
consequential amendments to IAS 39 and IFRS 9
did not remove the ability to measure short-term
receivables and payables with no stated interest
rate at their invoice amounts without
discounting, if the effect of discounting is
immaterial. As the amendments do not contain
any effective date, they are considered to be
immediately effective.
3. Application of New and Revised
International Financial Reporting Standards
(IFRSs)
The amendments to IAS 16 and IAS 38 remove
perceived inconsistencies in the accounting for
accumulated depreciation/amortisation when
an item of property, plant and equipment or an
intangible asset is revalued. The amended
standards clarify that the gross carrying amount
is adjusted in a manner consistent with the
revaluation of the carrying amount of the asset
and that accumulated depreciation/
amortisation is the difference between the gross
carrying amount and the carrying amount after
taking into account accumulated impairment
losses.
The amendments to IAS 24 clarify that a
management entity providing key management
personnel services to a reporting entity is a
related party of the reporting entity.
Consequently, the reporting entity should
disclose as related party transactions the
amounts incurred for the service paid or payable
68
to the management entity for the provision of
key management personnel services. However,
disclosure of the components of such
compensation is not required.
application of these amendments will have a
significant impact on the Group’s consolidated
Cycle
The Annual Improvements to IFRSs 2011-2013
Cycle include a number of amendments to
various IFRSs, which are summarised below.
The amendments to IFRS 3 clarify that the
standard does not apply to the accounting for the
formation of all types of joint arrangement in the
financial statements of the joint arrangement
itself.
The amendments to IFRS 13 clarify that the
scope of the portfolio exception for measuring
the fair value of a group of financial assets and
financial liabilities on a net basis includes all
contracts that are within the scope of, and
accounted for in accordance with, IAS 39 or IFRS
9, even if those contracts do not meet the
definitions of financial assets or financial
liabilities within IAS 32.
The amendments to IAS 40 clarify that IAS 40 and
IFRS 3 are not mutually exclusive and application
of both standards may be required.
Consequently, an entity acquiring investment
property must determine whether:
(a) the property meets the definition of
investment property in terms of IAS 40; and
(b) the transaction meets the definition of a
business combination under IFRS 3.
application of these amendments will have a
significant impact on the Group’s consolidated
4. Significant Accounting Policies
The principal accounting policies applied in the
preparation of these financial statements are set
out below. These policies have been consistently
applied to all the years presented, unless
otherwise stated.
ANNUAL REPORT
2014
About Us
4.1 Statement of Compliance
These consolidated and separate financial
statements have been prepared in accordance
with International Financial Reporting Standards
(IFRS) as issued by the International Accounting
Standards Board (IASB) and Interpretations
issued by the International Financial Reporting
Interpretations Committee of IASB (together
"IFRS”) that are effective at 31st December, 2014
and requirements of the Companies and Allied
Matters Act (CAMA) of Nigeria and the Financial
Reporting Council (FRC) Act. 2011 of Nigeria.
4.2. Basis of Preparation
The consolidated and separate financial
statements have been prepared on the historical
cost basis except for the revaluation of certain
financial instruments. Historical cost is generally
based on the fair value of the consideration given
in exchange for assets.
The principal accounting policies are set out
below:
4.3. Subsidiaries
Consolidation of a subsidiary begins when the
Company obtains control over the subsidiary and
ceases when the Company loses control of the
subsidiary. Specifically, income and expenses of
a subsidiary acquired or disposed of during the
year are included in the consolidated statement
of profit or loss and other comprehensive
income from the date the Company gains control
until the date when the Company ceases to
control the subsidiary. Profit or loss and each
component of other comprehensive income are
attributed to the owners of the Company and to
t h e n o n - c o n t r o l l i n g i n t e r e s t s . To t a l
comprehensive income of subsidiaries is
attributed to the owners of the Company and to
the non-controlling interests even if this results in
the non-controlling interests having a deficit
balance.
When necessary, adjustments are made to the
financial statements of subsidiaries to bring their
accounting policies into line with the Group’s
accounting policies.
All intragroup assets and liabilities, equity,
income, expenses and cash flows relating to
transactions between members of the Group are
eliminated in full on consolidation.
The results of subsidiaries acquired or disposed
of during the year are included in the Group
statement of comprehensive income from the
effective date of acquisition or up to the effective
date of disposal, as appropriate. Total
comprehensive income of subsidiaries is
attributed to the owners' of the Company and to
the non-controlling interests even if this results in
the non -controlling interest having a deficit
balance.
Operational
Review
Corporate
Governance
Financial
Statements
In the Company's separate financial statements,
investments in subsidiaries are carried at cost
less any impairment that has been recognised in
profit or loss.
4.4. Transactions Eliminated on Consolidation
Inter-Company transactions, balances and any
gains on transactions between Group
companies are eliminated. Unrealised losses are
also eliminated but to the extent that there is no
evidence of impairment.
4.5. Non-controlling Interest
Non-controlling interest is the equity in a
subsidiary not attributable, directly or indirectly,
to a parent company and is presented separately
in the consolidated statement of profit or loss, in
the consolidated statement of comprehensive
income and within equity in the consolidated
statement of financial position. Total
comprehensive income attributable to noncontrolling interests is presented on the "Noncontrolling interest" in the statement of financial
position, even if it can create negative noncontrolling interests.
Changes in the ownership interest of a subsidiary
that do not result in loss of control are accounted
for as an equity transaction. Consequently, if
Company acquires or partially disposes of a noncontrolling interest in a subsidiary, without losing
control, any difference between the amount by
which the non-controlling interest is adjusted
and the fair value of the consideration paid or
received is recognised directly in equity.
4.6 Acquisition of Entities Under Common
Control
Business combinations arising from transfers of
interests in entities that are under the control of
the shareholder that controls the Group are
accounted prospectively as of the date that
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transfer of interest was effected. The assets and
liabilities acquired are recognised at the carrying
amounts recognised previously in the Group
controlling shareholder’s consolidated financial
statements. The difference between the
consideration paid and the net assets acquired is
accounted for directly in equity.
4.7 Functional and Presentation Currency
These financial statements are presented in
Naira, which is the Group's functional currency.
All financial information presented in naira has
been rounded to the nearest thousand.
4.8 Revenue Recognition
Revenue is derived principally from the sale of
goods and is measured at the fair value of
consideration received or receivable, after
deducting discounts, volume rebates, value
added tax and any estimated customer returns.
Sales are stated at their invoiced amount which
is net of value added taxes and discounts.
Sale of Goods
Revenue from the sale of goods is recognised
when all the following conditions are satisfied:
•
•
•
•
•
the Group has transferred to the buyer the
significant risks and rewards of ownership of
the goods;
the Group retains neither continuing
managerial involvement to the degree
usually associated with ownership nor
effective control over the goods sold;
the amount of revenue can be measured
reliably;
it is probable that the economic benefits
associated with the transaction will flow to
the Group; and
The costs incurred or to be incurred in
respect of the transaction can be measured
reliably.
Specifically, revenue from the sale of goods is
recognised when goods are delivered (or
collected, if sold under self-collection terms) and
legal title is passed. Amount relating to shipping
and handling whether included as part of sales is
billed separately is recorded as revenue and cost
incurred for shipping and handling are classified
under selling and distribution expenses.
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4.9 Interest Income
Interest income from a financial asset is
recognised when it is probable that the
economic benefits will flow to the Group and the
amount of revenue can be measured reliably.
Interest income is accrued on a time basis, by
reference to the principal outstanding and at the
effective interest rate applicable, which is the
rate that exactly discounts estimated future cash
receipts through the expected life of the financial
asset to that asset's net carrying amount on initial
recognition.
4.10 Pensions and other Post-employment
Benefits
The Group operates a defined contribution
based retirement benefit scheme for its staff, in
accordance with the amended Pension Reform
Act of 2004 with employee contributing 8% and
the employer contributing 10% each of the
employee’s relevant emoluments. Payments to
defined contribution retirement benefit plans
are recognised as an expense in statement of
profit or loss when employees have rendered the
service entitling them to the contributions.
4.11 Taxation
Income tax expense represents the sum of the
tax currently payable and deferred tax.
4.11.1 Current Tax
The tax currently payable is based on taxable
profit for the year. Taxable profit differs from
profit as reported in the statements of profit or
loss and other comprehensive income because
of items of income or expense that are taxable or
deductible in other years and items that are
never taxable or deductible.
The Group's liability for current tax is calculated
using tax rates that have been enacted or
substantively enacted by the end of the reporting
period.
Current income tax is the expected amount of
income tax payable on the taxable profit for the
year determined in accordance with the
Companies Income Tax Act (CITA) using statutory
tax rates at the reporting date. Education tax is
assessed at 2% of the assessable profits.
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4.11.2 Deferred Tax
Deferred tax is recognised on temporary
differences between the carrying amounts of
assets and liabilities in the financial statements
and the corresponding tax bases used in the
computation of taxable profit. Deferred tax
liabilities are generally recognised for all taxable
temporary differences.
Deferred tax assets are generally recognised for
all deductible temporary differences to the
extent that it is probable that taxable profits will
be available against which those deductible
temporary differences can be utilised. Such
deferred tax assets and liabilities are not
recognised if the temporary difference arises
from goodwill or from the initial recognition
(other than in a business combination) of other
assets and liabilities in a transaction that affects
neither the taxable profit nor the accounting
profit.
The carrying amount of deferred tax assets is
reviewed at the end of each reporting period and
reduced to the extent that it is no longer
probable that sufficient taxable profits will be
available to allow all or part of the asset to be
recovered.
Deferred tax assets and liabilities are measured
at the tax rates that are expected to apply in the
period in which the liability is settled or the asset
realised, based on tax rates (and tax laws) that
have been enacted or substantively enacted by
the end of the reporting period. The
measurement of deferred tax liabilities and
assets reflects the tax consequences that would
follow from the manner in which the Group
expects, at the end of the reporting period, to
recover or settle the carrying amount of its assets
and liabilities.
Deferred tax assets and liabilities are offset when
there is a legally enforceable right to set off
current tax assets against current tax liabilities
and when they relate to income taxes levied by
the same taxation authority and the Group
intends to settle its current tax assets and
liabilities on a net Current and deferred tax are
recognised in profit and loss, except when they
relate to items that are recognised in other
comprehensive income or directly in equity, in
which case, the current and deferred tax are
recognised in other comprehensive income or
directly in equity respectively. Where current tax
and deferred tax arises from the initial
accounting for a business combination, the tax
effect is included in the accounting for the
business combination.
4.12 Property, plant and equipment
i. Recognition and Measurement
Items of property, plant and equipment are
measured at cost less accumulated depreciation
and accumulated impairment losses.
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Cost includes expenditure that is directly
attributable to the acquisition of the asset. Fixed
assets under construction are disclosed as
capital work-in-prog ress. The cost of
construction recognised includes the cost of
materials and direct labour, any other costs
directly attributable to bringing the assets to a
working condition for their intended use, the
costs of dismantling and removing the items and
restoring the site on which they are located, and
borrowing costs on qualifying assets.
Purchased software that is integral to the
functionality of the related equipment is
capitalized as part of the equipment.
When parts of an item of property, plant and
equipment have different useful lives, they are
accounted for as separate items (major
components) of property, plant and equipment.
Gains and losses on disposal of an item of
property, plant and equipment are determined
by comparing the proceeds from disposal with
the carrying amount of property, plant and
equipment, and are recognised in the statement
of comprehensive income.
ii. Subsequent Costs
The cost of replacing a part of an item of property,
plant and equipment is recognized in the
carrying amount of the item if it is probable that
the future economic benefits embodied within
the part will flow to the Group and its cost can be
measured reliably. The carrying amount of the
replaced part is derecognized. The costs of the
day-to-day servicing of property, plant and
equipment are recognized in profit or loss as
incurred.
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Depreciation is calculated on the depreciable
amount, which is the cost of an asset, or other
amount Working Draft substituted for cost, less
its residual value.
Depreciation is recognized in profit or loss on a
straight-line basis over the estimated useful lives
of each part of an item of property, plant and
equipment which reflects the expected pattern
of consumption of the future economic benefits
embodied in the asset. Leased assets are
depreciated over the shorter of the lease term
and their useful lives unless it is reasonably
certain that the Group will obtain ownership by
the end of the lease term in which case the assets
are depreciated over the useful life.
The estimated useful lives for the current and
comparative periods are as follows:
Buildings
Plant and Machinery
Motor Vehicles
Computer Equipment
Tools and Equipment
Furniture and Equipment
Freehold land is not depreciated.
– 50 years
– 15 years
– 4 years
– 3 years
– 4 years
– 5 years
Depreciation methods, useful lives and residual
values are reviewed at each financial year end
and adjusted if appropriate. Capital work-inprogress is not depreciated. The attributable cost
of each asset is transferred to the relevant asset
category immediately the asset is available for
use and depreciated accordingly.
Properties in the course of construction for
production, supply or administrative purposes,
or for purposes not yet determined, are carried at
cost, less any recognised impairment loss. Cost
includes Group’s accounting policy. Depreciation
of these assets, on the same basis as other
property assets, commences when the assets are
ready for their intended use.
4.12 Property, Plant and Equipment
Depreciation is recognised so as to write off the
cost of assets (other than properties under
construction) less their residual values over their
useful lives, using the straight-line method. The
estimated useful lives, residual values and
depreciation method are reviewed at each year
end, with the effect of any changes in estimate
72
accounted for on a prospective basis.
Assets held under finance leases are depreciated
over their expected useful lives on the same
basis as owned assets or, where shorter, the term
of the relevant lease.
4.13 Leases
Leases are classified as finance leases whenever
the terms of the lease transfer substantially all
the risks and rewards of ownership to the lessee.
All other leases are classified as operating leases.
Operating lease payments are recognised as an
expense on a straight line basis over the lease
term, except where another systematic basis is
more representative of the time pattern in which
economic benefits from the leased assets are
consumed. Contingent rentals arising under
operating leases are recognised as an expense in
the period in which they are incurred.
In the event that lease incentives are received to
enter into operating leases, such incentives are
recognised as a liability. The aggregate benefit of
incentives is recognised as a reduction of rental
expense on a straight line basis, except where
another systematic basis is more representative
of the time pattern in which economic benefits
from the leased assets are consumed.
Where there are no agreed lease terms, rent
payable is recognised as incurred.
4.14 Intangible Assets
Intangible assets acquired separately Intangible
assets with finite useful lives that are acquired
separately are carried at cost less accumulated
amortisation and accumulated impairment
losses. Amortisation is recognised on a straightline basis over their estimated useful lives. The
estimated useful life and amortisation method
are reviewed at the end of each annual reporting
period, with the effect of any changes in estimate
being accounted for on a prospective basis.
Intangible assets with indefinite useful lives that
are acquired separately are carried at cost less
accumulated impairment losses.
Derecognition of Intangible Assets
An intangible asset is derecognised on disposal,
or when no future economic benefits are
expected from use or disposal. Gains or losses
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arising from derecognition of an intangible asset,
measured as the difference between the net
disposal proceeds and the carrying amount of
the asset, and are recognised in profit or loss
when the asset is derecognised.
4.15 Impairment of Tangible and Intangible
assets other than Goodwill
At the end of each reporting period, the Group
reviews the carrying amounts of its tangible and
intangible assets to determine whether there is
any indication that those assets have suffered an
impairment loss. If any such indication exists, the
recoverable amount of the asset is estimated in
order to determine the extent of the impairment
loss (if any). Where it is not possible to estimate
the recoverable amount of an individual asset,
the Group estimates the recoverable amount of
the cash-generating unit to which the asset
belongs. Where a reasonable and consistent
basis of allocation can be identified, corporate
assets are also allocated to individual cashgenerating units, or otherwise they are allocated
to the smallest group of cash-generating units for
which a reasonable and consistent allocation
basis can be identified.
Intangible assets with indefinite useful lives and
intangible assets not yet available for use are
tested for impairment at least annually, and
whenever there is an indication that the asset
may be impaired.
Recoverable amount is the higher of fair value
less costs to sell and value in use. In assessing
value in use, the estimated future cash flows are
discounted to their present value using a pre-tax
discount rate that reflects current market
assessments of the time value of money and the
risks specific to the asset for which the estimates
of future cash flows have not been adjusted.
4.15 Impairment of Tangible and Intangible
Assets other than Goodwill
If the recoverable amount of an asset (or cashgenerating unit) is estimated to be less than its
carrying amount, the carrying amount of the
asset (or cash-generating unit) is reduced to its
recoverable amount. An impairment loss is
recognised immediately in profit or loss.
Where an impairment loss subsequently
reverses, the carrying amount of the asset (or
cash-generating unit) is increased to the revised
estimate of its recoverable amount, but so that
the increased carrying amount does not exceed
the carrying amount that would have been
determined had no impairment loss been
recognised for the asset (or cash-generating
unit) in prior years. A reversal of an impairment
loss is recognised immediately in profit or loss.
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4.16 Inventories
Inventories are stated at the lower of cost and net
realisable value. Cost of engineering spares and
consumable stock is determined on a first in first
out basis. Cost of other stock (Raw materials,
packaging materials, work in progress and
finished goods) is determined on the basis of
standard costs adjusted for variances. Standard
costs are periodically reviewed to approximate
actual costs.
Goods in transit are valued at the invoice price.
Cost of inventory includes purchase cost,
conversion cost (materials, labour and
overhead) and other costs incurred to bring
inventory to its present location and condition.
Finished goods, which include direct labour and
factory overheads, are valued at standard cost
adjusted at year-end on an actual cost basis.
Costs, including an appropriate portion of fixed
and variable overhead expenses, are assigned to
inventories by the method most appropriate to
the particular class of inventory, with the majority
being valued on an average cost basis. Net
realisable value represents the estimated selling
price for inventories less all estimated costs of
completion and costs necessary to make the
sale.
4.17 Provisions
Provisions are recognised when the Group has a
present obligation (legal or constructive) as a
result of a past event, it is probable that the
Group will be required to settle the obligation,
and a reliable estimate can be made of the
amount of the obligation (when the time value
of money is material).
The amount recognised as a provision is the best
estimate of the consideration required to settle
the present obligation at the end of the reporting
period, taking into account the risks and
uncertainties surrounding the obligation. Where
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a provision is measured using the cash flows
estimated to settle the present obligation, its
carrying amount is the present value of those
cash flows.
When some or all of the economic benefits
required to settle a provision are expected to be
recovered from a third party, a receivable is
recognised as an asset if it is virtually certain that
reimbursement will be received and the amount
of the receivable can be measured reliably.
4.17.1 Onerous Contracts
Present obligations arising under onerous
contracts are recognised and measured as
provisions. An onerous contract is considered to
exist where the Group has a contract under
which the unavoidable costs of meeting the
obligations under the contract exceed the
economic benefits expected to be received from
the contract.
4.17.2 Environmental Costs
Costs incurred that result in future economic
benefits, such as extending useful lives,
increasing capacity or safety, and those costs
incurred to mitigate or prevent future
environmental contamination are capitalized.
When the Group’s management determine that
it is probable that a liability for the future
remediation cost is recorded as a provision
without contingent insurance recoveries being
offset (only virtually certain insurance recoveries
are recognized as an asset on the statement of
financial position). When we do not have a
reliable reversal time schedule or when the
effect of the passage of time is not significant, the
provision is calculated based on undiscounted
cash flows.
Environmental costs, which are not included
above, are expensed as incurred.
4.18 Financial Instruments
Financial assets and financial liabilities are
recognised when the Group becomes a party to
the contractual provisions of the instrument.
Financial assets and financial liabilities are
initially measured at fair value. Transaction cost
that are directly attributable to the acquisition or
issue of the financial assets and financial
liabilities (other than financial assets or financial
liabilities at fair value through profit or loss) are
74
added to or deducted from the fair value of the
financial assets or financial liabilities, as
appropriate, on initial recognition. Transaction
costs directly attributable to the acquisition of
financial assets or financial liabilities at fair value
through profit or loss are recognised
immediately in profit or loss.
Financial Assets
Financial assets are classified into the following
specified categories: financial assets at fair value
through profit or loss?(FVTPL), ‘held-to-maturity?
investments, available-for-sale (AFS) financial
assets and loans and receivables. The
classification depends on the nature and
purpose of the financial assets and is determined
at the time of initial recognition. All regular
purchases or sales of financial assets are
recognised and derecognized on a trade date
basis. Regular purchases or sales are purchases
or sales of financial assets that require delivery of
assets within the time frame established by
regulation or convention in the market place. The
Group’s financial assets comprise other loans
and receivables.
Effective Interest Method
The effective interest method is a method of
calculating the amortised cost of a debt
instrument and of allocating interest income
over the relevant period. The effective interest
rate is the rate that exactly discounts estimated
future cash receipts (including all fees on points
paid or received that form an integral part of the
effective interest rate, transaction costs and
other premiums or discounts) through the
expected life of the debt instrument, or (where
appropriate) a shorter period, to the net carrying
amount on initial recognition.
Income is recognised on an effective interest
basis for debt instruments other than those
financial assets classified as at FVTPL.
Loans and Receivables
Loans and receivables are non-derivative
financial assets with fixed or determinable
payments that are not quoted in an active
market. Loans and receivables (including trade
and other receivables) are measured at
amortised cost using the effective interest
method, less any impairment. Interest income is
recognised by applying the effective interest rate,
except for short-term receivables when the
recognition of interest would be immaterial.
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Impairment of Financial Assets
Financial assets, other than those at FVTPL, are
assessed for indicators of impairment at the end
of Working Draft each reporting period. Financial
assets are considered impaired when there is
objective evidence that as a result of one or more
events that occurred after the initial recognition
of the financial asset, the estimated future cash
flows of the investment have been affected.
For all categories of financial assets, objective
evidence of impairment could include:
•
significant financial difficulty of the issuer or
counterparty, or
•
breach of contract, such as a default or
delinquency in interest or principal
payments; or
•
It is becoming probable that the owner will
enter bankruptcy or financial reorganisation; or
•
the disappearance of an active market for
that financial asset because of financial
difficulties.
For certain categories of financial asset, such as
trade receivables, assets that are assessed not to
be impaired individually are, in addition,
assessed for impairment on a collective basis.
Objective evidence of impairment for a portfolio
of receivables could include the Group’s past
experience of collecting payments, an increase in
the number of delayed payments in the portfolio
past the average credit period of 30 days, as well
as observable changes in national or local
economic conditions that correlate with default
on receivables.
For financial assets carried at amortised cost, the
amount of the impairment loss recognised is the
difference between the asset’s carrying amount
and the present value of estimated future cash
flows, discounted at the financial asset’s original
effective interest rate.
For financial assets carried at cost, the amount of
the impairment loss is measured as the
difference between the asset’s carrying amount
and the present value of the estimated future
cash flows discounted at the current market rate
of return for a similar financial asset. Such
impairment loss will not be reversed in
subsequent periods.
The carrying amount of the financial asset is
reduced by the impairment loss directly for all
financial assets with the exception of trade
receivables, where the carrying amount is
reduced through the use of an allowance
account. When a trade receivable is considered
uncollectible, it is written off against the
allowance account. Subsequent recoveries of
amounts previously written off are credited
against the allowance account. Changes in the
carrying amount of the allowance account are
recognised in profit or loss.
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Derecognition of Financial Assets
The Group derecognises a financial asset only
when the contractual rights to the cash flows
from the asset expire, or when it transfers the
financial asset and substantially all the risks and
rewards of ownership of the asset to another
entity. If the Group neither transfers nor retains
substantially all the risks and rewards of
ownership and continues to control the
transferred asset, the Group recognises its
retained interest in the asset and an associated
liability for amounts it may have to pay.
If the Group retains substantially all the risks and
rewards of ownership of a transferred financial
asset, the Group continues to recognise the
financial asset and also recognises a
collateralised borrowing for the proceeds
received.
On derecognition of a financial asset in its
entirety, the difference between the asset’s
carrying amount and the sum of the
consideration received and receivable and the
cumulative gain or loss that had been recognised
in other comprehensive income and
accumulated in equity is recognised in profit or
loss.
4.19 Cash and Cash Equivalents
Cash and cash equivalents consist of cash, highly
liquid investments and cash equivalents which
are not subject to significant changes in value
and with an original maturity date of generally
less than three months from the time of
purchase.
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4.20 Financial Liabilities and Equity
Instruments Issued by the Group
Classification as debt or equity
Debts and equity instruments are classified as
either financial liabilities or as equity in
accordance with the substance of the contractual
arrangements and the definitions of a financial
liability and an equity instrument.
Equity Instruments
An equity instrument is any contract that
evidences a residual interest in the assets of an
entity after deducting all of its liabilities. Equity
instruments issued by the Group are recognised
at the proceeds received, net of direct issue costs.
Incremental costs directly attributable to the
issue of ordinary shares and share options are
recognized as a deduction from equity, net of any
tax effects.
4.20 Financial Liabilities and Equity
Instruments Issued by the Group
Financial Liabilities
Financial Liabilities are classified as either
financial liabilities, at fair value through profit or
loss (FVTPL) or other liabilities. The Group only
operates the category of other financial liability.
Other Financial Liabilities
Other financial liabilities (including borrowings
and trade and other payables) are subsequently
measured at amortised cost using the effective
interest method.
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when, and only when the Group’s obligations are
discharged, cancelled, or they expire. The
difference between the carrying amount of the
financial liability derecognised and the
consideration paid, and payable is recognised in
profit or loss.
4.21 Earnings per Share
The Group presents basic and diluted earnings
per share (EPS) data for its ordinary shares. Basic
EPS is calculated by dividing the profit or loss
attributable to ordinary shareholders of the
Group by the weighted average number of
ordinary shares outstanding during the period,
adjusted for own shares held, if any. Diluted EPS
is determined by adjusting the profit or loss
attributable to ordinary shareholders and the
weighted average number of ordinary shares
outstanding, adjusted for own shares held, if any,
for the effects of all dilutive potential ordinary
shares.
4.22 Foreign Currency Transactions and
Translation
Items included in the financial statements of
each of the Group are measured using the
currency of the primary economic environment
in which the entity operates (the functional
currency). The financial statements are
presented in Naira, which is the Group's
functional and presentation currency.
4.22a Foreign Currency Transactions and
Translation
Foreign currency transactions are translated into
the functional currency using the exchange rates
prevailing at the dates of the transactions.
Foreign exchange gains and losses resulting from
the settlement of such transactions and from the
translation at year-end exchange rates of
monetary assets and liabilities denominated in
foreign currencies are recognized in the
statement of profit or loss and other
comprehensive income.
The effective interest method is a method of
calculating the amortised cost of a financial
liability and of allocating interest expense over
the relevant period. The effective interest rate is
the rate that exactly estimates future cash
payments (including all fees and points paid or
received that form an integral part of the effective
interest rate, transaction costs and other
premiums or discounts) through the expected
life of the financial liability, or (where
appropriate) , a shorter period, to the net carrying
amount on initial recognition.
Non-monetary assets and liabilities in a foreign
currency that are measured in terms of historical
cost are translated using the exchange rate at the
transaction date and are not restated.
Derecognition of Financial Liabilities
The Group derecognises financial liabilities
Non-monetary assets and liabilities
denominated in foreign currencies that are
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stated at fair value are translated to the
functional currency at foreign exchange rates
prevailing at the dates the fair value was
determined and are not restated.
4.23 Borrowing costs
Borrowing costs directly attributable to the
acquisition, construction, or production of
qualifying assets, which are assets that
necessarily take a substantial period of time to
get ready for their intended use or sale are added
to the cost of those assets, until such time as the
assets are substantially ready for their intended
use or sale.
Investment income earned on the temporary
investment of specific borrowings pending their
expenditure on qualifying assets is deducted
from the borrowing costs eligible for
capitalization.
All other borrowing costs are recognised in profit
or loss in the period in which they are incurred.
4.25 Segment information
Information reported to the Chief Operating
decision maker of the Group for the purposes of
resource allocation and assessment of segment
performance focuses on its sole product, refined
sugar based on different geographical location.
Segment reporting has been prepared based on
the geographical information of the group
5. Critical accounting judgements and key
sources of estimation uncertainty
In the application of the group’s significant
accounting policies, described in note 4, the
directors are required to make judgements,
estimates and assumptions about the carrying
amounts of assets and liabilities that are not
readily apparent from other sources. The
estimates and associated assumptions are based
on historical experience and other factors that
are considered to be relevant.
Actual results may differ from these estimates.
The estimates and underlying assumptions are
reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the
period in which the estimate is revised if the
revision affects only that period, or in the period
of the revision and future periods if the revision
affects both current and future periods.
5.1 Critical judgements in applying accounting
policies
The following are the critical judgements, apart
from those involving estimations (see note 5.2
below), that the directors have made in the
process of applying the Group’s accounting
policies and that have the most significant effect
on the amounts recognised in the consolidated
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The key assumptions concerning the future, and
other key sources of estimation uncertainty at the
reporting date, that have a significant risk of
causing a material adjustment to the carrying
amounts of assets and liabilities within the next
financial year, are discussed below.
5.1.0 Revenue Recognition
In recognising revenue, critical judgement is
made with respect to the mode of delivery.
Where the customer opts to make personal
arrangement to take delivery of goods by
bringing his own truck, revenue is recognised as
soon as the truck is loaded and a waybill is
generated. However, where the customer opts
for delivery to be made using DSR trucks, revenue
is recognised only when the goods are delivered
at the address provided and receipt of same is
acknowledged on the waybill.
5.1.1 Allowance for credit losses
The Group periodically assesses its trade
receivables for probability of credit losses.
Management considers several factors including
past credit record, current financial position and
credibility of management, judgement is
exercised in determining the allowances made
for credit losses.
Provisions are made for receivables that have
been outstanding for 365 days, in respect of
which there is no firm commitment to pay by the
customer.
Furthermore, all balances are reviewed for
evidence of impairment and provided against
once recovery is doubtful. These assessments are
subjective and involve a significant element of
judgement by management on the ultimate
recoverability of amounts receivable.
5.1.2 Fair values of biological assets
The fair value of the biological asset is derived
using a replacement cost approach.
ANNUAL REPORT
2014
77
Management uses estimates for the costs to
replace the biological asset by segmenting the
assets into their various life circles less expected
costs to produce and sell the sugar and
molasses, which are determined by considering
historical actual costs incurred on a per hector
basis. The estimated selling price and costs are
subject to fluctuations based on the timing of
prevailing growing conditions economic and
market conditions as obtained from the various
units directly involved in the sales and biological
transformation of the assets.
5.2 Key Sources of Estimation Uncertainty
The following are the key assumptions
concerning the future, and other key sources of
estimation uncertainty at the end of the
reporting period, that have a significant risk of
causing a material adjustment to the carrying
amounts of assets and liabilities within the next
financial year.
5.2.1 Useful Life of Property, Plant and
equipment
The Group reviewed and revised the estimated
useful lives of its property, plant and equipment
on transition to IFRS on 1 January, 2011, and
under IFRS, has reviewed them annually at each
reporting date. Useful lives are estimated based
on the engineer’s report, as at each reporting
date. Some of the factors considered include the
current service potential of the assets, potential
cost of repairs and maintenance.
There is a degree of subjective judgment in such
estimation which has a resultant impact on profit
and total comprehensive income for the year.
5.2.2 Valuation of Deferred Tax
The recognition of deferred tax assets requires an
assessment of future taxable profit. Deferred tax
assets are only recognised to the extent that it is
probable that taxable profits will be available
against which deductible temporary differences
can be utilised. The availability of future taxable
profits depends on several factors including the
group's future financial performance and if
necessary, implementation of tax planning
strategies.
6. Revenue
Sale of sugar - 50kg
Sale of sugar - Retail
Sale of molasses
Freight income
Group
Group
Company
Company
31-Dec-14
31-Dec-13
31-Dec-14
31-Dec-13
? '000
? '000
? '000
? '000
90,549,360 100,381,353 89,811,404 99,732,874
1,234,714
557,729 1,234,714
557,729
58,390
120,927
44,820
83,032
3,012,739 2,093,726 3,012,739 2,093,726
94,855,203 103,153,735 94,103,677 102,467,361
Revenue comprises of both domestic and export sales.
6.1 Segment Information
Information reported to the chief operating decision maker (the Managing Director) for the purposes
of resource allocation and assessment of segment performance is based on the entity as a whole as
there is no other distinguishable component of the entity that engages in business activities from
which it earns revenues and incurs expenses whose operating results are regularly reviewed by the
Managing Director to make decisions about resources to be allocated to the segment and assess its
performance and for which discrete financial information is available.
Segment information is presented in respect of the group's reportable segments. For Management
purposes, the Group is organised into business units by geographical areas in which the group
operates and the locations that comprise such regions represent operating segments. The Group has
4 reportable segments based on location of the principal operations as follows:
Ghana, Northern Nigeria, Southern Nigeria, Eastern Nigeria and Lagos.
78
ANNUAL REPORT
2014
About Us
6.2 Geographical information
The group's revenue from external customers by region of operations is listed below.
Ghana
Nigeria:
Lagos
North
West
East
Group
31-Dec-14
? '000
-
Group
31-Dec-13
? '000
1,794,738
Company Company
31-Dec-14 31-Dec-13
? '000
? '000
- 1,794,738
26,504,641
38,296,462
25,987,415
4,066,685
94,855,203
56,097,204
30,065,627
11,143,855
4,052,311
103,153,735
26,504,640 56,097,204
37,544,935 29,379,253
25,987,415 11,143,854
4,066,687 4,052,312
94,103,677102,467,361
Segment Cost of Sales
31-Dec-14 31-Dec-13
? '000
? '000
- 1,322,354
Segment Profit
31-Dec-14 31-Dec-13
? '000
? '000
472,384
Operational
Review
Corporate
Governance
Financial
Statements
Group
Ghana
Nigeria:
Lagos
North
West
East
Company
Ghana
Nigeria:
Lagos
North
West
East
Group
Ghana
Lagos
North
West
East
Company
Ghana
Lagos
North
West
East
Segment Revenue
31-Dec-14
31-Dec-13
? '000
? '000
1,794,738
26,504,641
38,296,462
25,987,415
4,066,685
94,855,203
56,097,204
30,065,627
11,143,855
4,052,311
103,153,735
Segment Revenue
31-Dec-14
31-Dec-13
? '000
? '000
1,794,738
26,504,640
37,544,935
25,987,415
4,066,687
94,103,677
56,097,204
29,379,253
11,143,854
4,052,312
102,467,361
9,136,869 41,332,152
7,367,772 14,765,052
28,784,332 24,704,294 9,512,130 5,361,333
25,369,765
8,210,738
617,650 2,933,117
2,936,227 2,985,723 1,130,458 1,066,588
76,227,193 78,555,261 18,628,010 24,598,474
Segment Cost of Sales
31-Dec-14 31-Dec-13
? '000
? '000
- 1,322,354
Segment Gross Profit
31-Dec-14 31-Dec-13
? '000
? '000
472,384
19,136,870 41,332,152
7,367,770 14,765,052
27,108,178 21,646,494 10,436,757 7,732,759
23,187,800 8,210,740 2,799,615 2,933,114
2,936,227 2,985,723 1,130,460 1,066,589
72,369,075 75,497,463 21,734,602 26,969,898
Total Segment Assets Total Segment Liabilities
31-Dec-14 31-Dec-13 31-Dec-14 31-Dec-13
? '000
? '000
? '000
? '000
92,801,302 83,159,878 41,387,582 36,181,937
92,801,302 83,159,878 41,387,582 36,181,937
Total Segment Assets Total Segment Liabilities
31-Dec-14 31-Dec-13 31-Dec-14 31-Dec-14
? '000
? '000
? '000
? '000
97,287,804 87,112,182 38,761,602 33,294,670
97,287,804 87,112,182 38,761,602 33,294,670
ANNUAL REPORT
2014
79
6.3 Information about Major Customers
There is a single customer who buys industrial Non- Fortified Sugar that represents more than 10% of total
sales during the year.
6.3.1 Large Corporate/Industrial Users
These are leading blue chip companies in Nigeria, and they include manufacturers of confectioneries and
soft drinks. This group typically accounts for 30% of the company's sales. They buy Non-Fortified sugar
exclusively.
6.3.2 Distributors
The company sells unfortified sugar mainly to pharmaceutical, food and beverage manufacturers, while
Vitamin A-fortified sugar is sold to distributors who sell to small wholesalers, confectioners and other
smaller value-adding enterprises who provide the distribution network to the Nigerian retail market. The
Company sells a small amount of sugar directly to retail customers. Retail packaging comes in various sizes
of 250g, 500g, and 1kg under the brand name “Dangote Sugar”. Sales to Distributors account for 70% of the
company's revenue.
6.3.3 The Company provides a delivery service to customers by transporting refined sugar to other
destinations. Freight income represents revenue earned in this respect during the year. The associated cost
of providing this service is included in cost of sales.
7. Cost of sales
Raw material
Direct labour cost
Direct overheads
Other overheads
Depreciation
Fleet expenses
7.1 Selling and distribution expenses
Carriage expenses
Selling and marketing expenses
80
Group
31-Dec-14
? '000
60,018,765
3,122,304
7,034,802
495,928
3,232,313
2,323,081
76,227,193
Group
31-Dec-13
? '000
65,567,707
608,065
8,283,193
19,778
2,159,542
1,916,976
78,555,261
1,012
1,954,657
1,955,669
2,008,962
1,425,899
3,434,861
ANNUAL REPORT
2014
Company
Company
31-Dec-14 31-Dec-13
? '000
? '000
59,619,604 63,801,527
1,522,499
539,917
6,050,947
8,210,618
405,976
18,898
2,446,968 1,009,527
2,323,081
1,916,976
72,369,075 75,497,463
720,090
1,115,713
1,835,803
1,992,996
1,425,899
3,418,895
About Us
8. Administrative Expenses
Salaries and related staff cost
Depreciation
Utilities
Rents
Audit fees
Management fee
Directors' remuneration
Impairment loss
Fair value adjustment on biological asset
Legal and professional fees
Gratuity
Subscription and donations
Advertisements and promotions
Transport and travelling
Security expense
Insurance
Others
9. Investment Income
Interest income on bank deposits
Group
31-Dec-14
? '000
2,117,611
425,723
257,366
112,039
44,000
605,529
84,954
294,442
217,038
216,094
23,725
1,877
118,403
70,862
86,582
1,968,144
6,644,389
Group
31-Dec-13
? '000
2,976,528
725,748
182,907
59,679
40,700
2,007,544
91,946
576,953
373,915
180,591
284,969
63,404
131,620
176,372
87,433
750,563
8,710,872
Company
31-Dec-14
? '000
1,581,724
324,399
171,968
112,039
32,000
590,462
84,954
225,680
163,939
23,724
1,877
118,403
70,862
86,582
1,366,840
4,955,453
Company
31-Dec-13
? '000
2,175,547
715,723
129,819
58,385
32,000
2,007,544
91,946
544,885
160,359
281,199
63,404
98,365
152,111
51,017
638,838
7,201,142
285,594
285,594
1,491,638
1,491,638
285,594
285,594
1,491,637
1,491,637
Operational
Review
Corporate
Governance
Financial
Statements
Interest is earned on bank deposits at an average rate of 11.45 % p.a. on short term (30 days) bank deposits.
9.1 Finance cost
The average effective interest rate on funds borrowed generally is 10% per annum for the Group and
Company (2013: 10% and 12% per annum respectively).
Group
31-Dec-14
? '000
Insurance claims
1,222,799
Insurance claims on burnt assets
47,223
Sales of scrap materials
1,435,877
Fleet Income
487,005
Electricity supply
73,856
Exchange Gain
285,775
Bad debt recovered
11,543
Export grant
Fair value adjustment on Biological assets (Note 17) 1,501,971
5,066,049
10. Other Income
Group
31-Dec-13
? '000
35,350
1,879,269
238,011
235,314
2,387,944
Company
31-Dec-14
? '000
1,222,799
208,215
487,005
73,856
285,775
11,543
2,289,193
Company
31-Dec-13
? '000
2,962
1,879,269
140,474
235,314
2,258,019
ANNUAL REPORT
2014
81
11. Taxation
11.1 Income tax recognized in profit or loss
Current Tax
Income tax based on profit for the year
Education tax expense
In respect of prior years
Group
31-Dec-14
? '000
Group
31-Dec-13
? '000
Company
31-Dec-14
? '000
Company
31-Dec-13
? '000
5,302,009
399,124
5,701,133
4,352,695
391,727
469,237
5,213,659
5,295,430
399,124
5,694,554
4,346,197
391,727
469,237
5,207,161
(2,063,760)
3,637,373
132,109
73,459
5,419,227
(130,403)
5,564,151
1,281,284
73,460
6,561,905
Deferred tax
Deferred tax (income)/expense
In respect of prior years
The tax rates used in the above comparative figures are the corporate tax rate of 30% payable by
corporate entities in Nigeria. Education tax rate of 2% is also payable.
11.2 The income tax expense for the year can be reconciled to the accounting profit as follows:
31-Dec-14 31-Dec-13 31-Dec-14 31-Dec-13
? '000
? '000
? '000
? '000
Profit before tax
15,273,152 16,265,159 17,472,841 20,099,517
Income tax expense calculated at 32 %( 2013:32%) 4,887,408
5,204,850
5,591,309 6,431,845
Effect of capital gains tax rolled over
80,775
80,775
Effect of Investment allowance,
not recognised in accounting
1,694
(98,602)
55,169
(98,602)
Effect of expenses which are not
deductible in determining profits
55,169
23,017
21,884
Effect of concessions (research and development
and other allowances)
(1,324,150)
(49,007)
Effect of income items that are exempt from tax
(406,430)
(406,430)
Effect of minimum tax adjustment
6,579
6,498
Others
93,660
66,423
49,667
(10,263)
Education tax at 2% of assessable profits
Effect of Capital gains tax rolled over
41,395
41,395
Capital gains on disposal of assets
(subject to tax at different rates)
(124,382)
(124,382)
Adjustments recognised in the current year in
relation to the deferred tax of prior years
73,459
73,459
Adjustments recognised in the current year in
relation to the current tax of prior years
469,237
469,237
Income tax expense recognised in profit or loss.
3,637,373
5,419,227
5,564,151
6,561,905
82
ANNUAL REPORT
2014
About Us
11.3 Current tax liabilities in the statement of
financial position
Balance, beginning of the year
Effect of acquisition of subsidiary under
common control (Note 32.2)
Charge for the year (Note 11.1)
Payment made during the year
11.3.1 Current Tax Liabilities
Income tax
Education tax
Provision in respect of under
accruals in earlier years
11.4 Deferred tax balances
Deferred tax assets
Deferred tax liability
Net deferred tax assets/ (liabilities)
Company
31-Dec-14
? '000
Company
31-Dec-13
? '000
Operational
Review
4,756,600
5,408,566
4,737,924
5,408,566
Corporate
Governance
5,936,185
4,756,600
5,910,930
4,737,924
5,302,009
399,124
4,352,695
391,727
5,295,430
399,124
4,346,197
391,727
5,701,133
469,237
5,213,659
5,694,554
469,237
5,207,161
Financial
Statements
2,488,822
555,465
(4,611,315) (4,741,717) (4,229,514) (4,359,916)
(2,122,493) (4,186,252) (4,229,514) (4,359,916)
11.4.1 Deferred tax
Group
Opening Movements Recognised
balance recognized directly in
equity
? '000
? '000
? '000
31-Dec-14
Deferred tax (liabilities)/assets in relation to:
Property, plant and equipment @ 30%
Exchange difference
Provisions
Unrelieved losses @ 30%
Capital gains tax on revaluation of land @ 10%
31-Dec-13
Deferred tax (liabilities)/assets
in relation to:
Exchange difference
provisions
Unrelieved losses @ 30%
Capital gains tax on revaluation
of land @ 10%
Group
31-Dec-13
? '000
12,178
5,701,133
5,213,659
5,694,554 5,207,161
(4,521,548) (5,877,803) (4,521,548) (5,877,803)
Balance end of the year
Group
Group
31-Dec-14
? '000
(6,615,874)
(80,775)
(17,752)
467,665
2,442,285
(381,801)
(4,186,252)
(49,772)
(41,395)
772,274
109,204
790,311
Closing
balance
? '000
1,273,449 (5,392,197)
- (122,170)
754,522
576,869
- 2,442,285
- (381,801)
1,273,449 (2,122,492)
Effect of Movements Recognised Recognised
Opening
balance acquisition recognized
directly
directly
of subsidiary in the year
in equity
in equity
under
by the
common
company
control
? '000
? '000
? '000
? '000
? '000
400,838
-
(3,401,406)
356,171
1,327,871
(2,277,753)
(80,775)
(17,752)
(284,741)
1,114,414
(936,714)- (6,615,873)
(80,775)
(17,752)
(4,604)
467,664
- 2,442,285
(381,801)
- (381,801)
(3,000,568)(975,512)(205,568) (4,604) (4,186,252)
ANNUAL REPORT
2014
83
Company
31-Dec-14
Exchange difference
Provisions
31-Dec-13
Exchange difference
Provisions
Opening Movements Recognised
balance recognized
directly
in the year
in equity
by the
company
? '000
? '000
? '000
(4,726,291)
(80,775)
17,752
429,398
(4,359,916)
Closing
balance
? '000
170,314
(41,395)
1,483
130,402
- (4,555,977)
- (122,170)
17,752
430,881
- (4,229,514)
(3,401,406) (1,324,885)
(80,775)
17,752
400,838
33,163
(3,000,568) (1,354,745
- (4,726,291)
(80,775)
17,752
(4,603)
429,398
(4,603) (4,359,916)
12. Profit for the year is arrived at after charging:
Impairment of property, plant and equipment
Depreciation of property, plant and equipment
(Write back) /Impairment loss recognised
on trade receivables
Impairment loss recognised on other receivables
Defined contribution plans
Defined Benefit Plan
Auditors remuneration
Amortisation of Intangible assets
Group
31-Dec-14
? '000
3,572,263
Group
31-Dec-13
? '000
79,062
2,885,292
Company
31-Dec-14
? '000
2,685,729
Company
31-Dec-13
? '000
63,551
1,725,252
(1,033,747)
75,629
161,554
216,094
40,700
115,705
342,165
155,725
191,622
191,731
32,000
-
34,936
14,421
117,531
32,000
85,638
139,168
342,166
93,39
229,32
32,00
-
10,845,932 11,908,690
13,537,612
10,845,932 11,908,690
13,537,612
13. Earnings per share
The earnings weighted average number of ordinary
shares used in the calculation of basic earnings
per share are as follows:
Profit for the year
11,635,779
Earnings used in the calculation of basic earnings
per share from continuing operations
11,635,779
Weighted average number of ordinary shares for the
purpose of basic and diluted earnings per share
12,000,000
Basic and diluted EPS (kobo)
97
84
12,000,000 12,000,000 12,000,000
90
99
113
ANNUAL REPORT
2014
1,582,102
13,220,648
15,660,284
Net book value:
Balance, 31st December, 2013
241,570
-
1,340,532
14,331,988
15,743,438
7,237,967
1,564,509
-
5,673,458
358,651
1,031,354
-
405,890
265,043
-
Charge for the year
Disposal
Impairment
4,283,453
21,569,955
153,059
-
669,599
17,242,386
Accumulated depreciation and impairment:
common control(Note 32)
Charge for the year
Impairment
2,681,206
-
21,416,896
6,021,310
3,244,334
-
9,576,069
55,781
14,561,180
12,151,252
Plant &
Machinery
? '000
4,929,330
Freehold
Land & Buildings
? '000
Additions during the year
Reclassifications
Disposal
Impairment
Cost:
common control(Note 32)
Disposal
14. Property, Plant and Equipment
Company
807,287
854,565
1,669,072
164,279
-
1,504,793
898,274
576,414
-
30,105
2,476,359
117,001
-
2,359,358
1,996,164
43,752
-
319,442
Tools &
Equipment
? '000
4,074,516
4,964,392
5,856,310
1,523,442
(8,895)
(6,269)
4,348,032
723,604
988,897
79,062
2,556,469
9,930,826
656,296
(16,401)
(21,493)
9,312,424
1,447,208
4,343,235
-
3,521,981
Motor
Vehicles
? '000
Notes to the Consolidated and Separate Financial Statements
119,707
14,568
32,982
12,110
-
20,872
364
3,029
-
17,479
152,689
117,249
-
35,440
5,161
7,232
-
23,047
Computer
Equipment
? '000
149,864
62,475
89,711
30,360
-
59,351
19,854
17,597
-
21,900
239,575
117,749
-
121,826
48,051
28,893
-
44,882
Furniture
& Fittings
? '000
860,877
896,870
38,951
35,993
-
2,958
2,958
-
-
899,828
-
899,828
899,828
-
-
Aircraft
? '000
14,468,197
6,090,351
-
-
-
2,406,637
-
-
14,468,197
7,238,847
1,138,999
-
6,090,351
1,657,751
(54,781)
4,487,381
Capital Work
In Progress
? '000
Total
50,472,720
41,847,307
16,507,095
3,572,263
(8,895)
(6,269)
12,949,996
2,885,292
79,062
7,579,005
66,979,815
54,797,303
11,081,407
1,138,999
(16,401)
(21,493)
19,093,963
10,280,806
(54,781)
25,477,315
? '000
Notes to the Consolidated and Separate Financial Statements
Balance, 31st December,2013
Charge for the year
Impairment
Disposal
Transfer to Savannah
Accumulated depreciation and Impairment:
Charge for the year
Impairment
Reclassification
Disposal
Impairment
Transfer to Savannah
Cost:
Disposal
-
-
-
1,848,996
1,848,996
-
-
? '000
4,181,882
891,704
768,199
123,505
(26,424)
669,599
98,600
-
6,500,146
4,950,081
1,550,065
-
4,929,330
20,751
-
Buildings
? '000
9,408,073
10,201,205
6,244,839
5,194,381
1,050,458
-
4,283,453
910,928
-
15,652,912
15,395,586
257,326
-
12,151,252
3,244,334
-
Plant &
Machinery
? '000
268,183
249,384
194,299
106,748
87,551
-
30,105
76,643
-
462,482
356,132
106,350
-
319,442
36,690
-
Tools &
Equipment
? '000
3,319,619
4,602,589
4,573,268
3,245,542
1,369,314
(6,269)
(8,895)
2,556,469
625,522
63,551
7,892,887
7,848,131
152,746
(16,401)
(21,493)
(70,096)
3,521,981
4,326,150
-
Motor
Vehicles
? '000
94,319
8,661
27,372
20,106
7,266
-
17,479
2,627
-
121,691
28,767
92,924
-
23,047
5,720
-
Computer
Equipment
? '000
33,059
43,032
41,516
29,873
11,643
-
21,900
7,973
-
74,575
72,905
1,670
-
44,882
28,023
-
Furniture
& Fittings
? '000
60,876
896,869
38,952
2,959
35,993
-
2,959
-
899,828
899,828
-
899,828
-
Aircraft
? '000
7,905,148
6,066,415
-
-
-
7,905,148
6,066,415
699,734
1,138,999
-
4,487,381
1,633,815
(54,781)
Capital Work
In Progress
? '000
29,346,717
26,250,037
12,011,950
9,367,808
2,685,730
(6,269)
(8,895)
(26,424)
7,579,005
1,725,252
63,551
41,358,665
35,617,845
4,709,811
1,138,999
(16,401)
(21,493)
(70,096)
25,477,315
10,195,311
(54,781)
? '000
Total
-
5,608,442
14.2 Property, Plant and Equipment
Company
Net book value:
1,848,996
Land
•Balance represents official vehicles of 2 directors which was transferred to them by the entity, The vehicle has a cost of ? 16,401,000 and an accumulated depreciation of ? 8,895,103 which gives a
netbook value of ? 7,505,897
•Balance represents cost of Land incurred on Lau Sugar Project and Kwara Sugar Project transferred from other receivables to Land.
14.3 Impairment loss recognized during the year
Impairment loss (? 15.2million) and (? 15.2million) for the Group and Company were recognised in the current year respectively. This represents Net book value of Motor vehicle destroyed by fire
during the year (2013: Group – ? 79.06million, Company- ? 63.5million).
14.4 None of the Company's assets are pledged as security for any liabilities.
The Group borrowing are secured on an all asset debenture over the present and future fixed and floating assets of Savannah Sugar Company Limited to be shared pari-passu with other existing
lenders.
About Us
15. Intangible assets
Cost
Balance at 1st January, 2013
Additions
Group
? '000
301,711
-
Company
? '000
256,912
-
Balance at 31st December, 2013
Additions
301,711
77,879
256,912
32,478
379,590
289,390
-
-
Amortisation expense
115,705
85,638
115,705
85,638
301,711
256,912
Balance at 31 December 2014
263,885
203,752
Accumulated amortisation
Balance at 1st January, 2013
Amortisation expense
Operational
Review
Corporate
Governance
Financial
Statements
This represents investment in respect of new SAP software with a useful life of 3 years. This will be amortised
on a straight line basis over the useful life of the software.
16. Other assets
Prepaid rent
Prepaid insurance
Prepaid Lease
Advance payment to Vendors
Current portion
Non-current portion
Group
31-Dec-14
? '000
282,908
147,060
1,168,684
1,598,652
Group
31-Dec-13
? '000
362,452
24,441
13,677
400,570
Company
31-Dec-14
? '000
282,908
92,834
1,033,573
1,409,315
Company
31-Dec-13
? '000
362,452
24,441
13,677
400,570
1,409,315
189,337
1,598,652
290,877
109,693
400,570
1,409,315
1,409,315
290,877
109,693
400,570
ANNUAL REPORT
2014
87
17. Biological Assets
Carrying value at the beginning of the year
(Usage)/Additions
Fair value adjustment
Carrying value as at year end
The carrying value comprises of:
Roots
Standing Cane
Reconciliation of changes in Biological assets
Carrying value as at 1st January
Gain or loss arising from changes in fair
value less cost to sell
Increases arising from purchases
Decreases attributable to sales and biological
assets classified as held for sale
Carrying Value as at 31st December
Group
31-Dec-14
? '000
499,339
(202,945)
1,501,971
1,798,365
Group
31-Dec-13
? '000
609,454
263,800
(373,915)
499,339
Company
31-Dec-14
? '000
-
Company
31-Dec-13
? '000
-
1,122,679
675,686
1,798,365
487,215
12,124
499,339
-
-
499,339
609,454
-
-
1,501,971
271,124
(373,915)
363,481
-
-
(474,069)
1,798,365
(99,681)
499,339
-
-
In terms of IAS 41: Agriculture, sugar cane growing crops are accounted for as biological assets and are
measured and recognised at fair value.
18. Held for Sale Investment in Subsidiary
Group
31-Dec-14
? '000
864,647
Group
31-Dec-13
? '000
-
Company
31-Dec-14
? '000
864,647
Company
31-Dec-13
? '000
-
Amount represents investment made by the company in 2008 in Algeria for the intended purpose of
expansion of the Company's activities through an Algerian Company SPA Dangote, Algeria. Subsequent to
the payment for the Land, the Algerian Government, without revoking the Algerian company's title to the
Land, refused the siting of the proposed Refinery at the Port citing that the site is not suitable for the
intended purpose.
The company lost control over this company in late 2010. The balance has been disclosed as a Held for Sale
Investment in subsidiary in 2014 (2013: Other receivables) as Management has obtained ownership to the
land and is committed to selling the Land within the next 12 months.
88
ANNUAL REPORT
2014
About Us
19. Investment in Subsidiary
Group
31-Dec-14
? '000
-
Group
31-Dec-13
? '000
-
Company
31-Dec-14
? '000
3,214,923
3,214,923
Company
31-Dec-13
? '000
3,214,923
3,214,923
Operational
Review
Corporate
Governance
The Group owns 95% shareholding in Savannah Sugar Company Limited. The Principal activities of
Savannah Sugar Company Limited are Planting of Sugar cane, processing, packaging and selling of refined
sugar and molasses and registered address is Km 81, Yola Gombe Road (Near Numan) Adamawa State.
Financial
Statements
19.1 There are no significant restrictions on the use of the subsidiary assets.
19.2 Dangote Sugar Refinery provides financial support to Savannah Sugar in terms of payment of salaries
and wages, purchase of assets and settlement of liabilities.
Raw materials
Packaging materials
Work-in-process
Finished goods
Chemicals and consumables
Spare parts
Allowance for obsolete inventory
Group
31-Dec-14
? '000
3,332,462
117,806
76,712
8,167,676
387,396
3,853,976
(837,138)
15,098,890
Group
31-Dec-13
? '000
7,479,108
37,595
104,074
585,468
685,206
3,772,282
(837,138)
11,826,595
Company
31-Dec-14
? '000
3,026,374
111,145
76,711
8,158,937
315,542
2,359,058
14,047,767
Company
31-Dec-13
? '000
7,49,108
37,594
104,074
580,161
236,997
2,659,957
11,097,891
20.1 No inventory was pledged as security for any liability.
20.2 The cost of inventory recognised in profit or loss during the year is
Group
31-Dec-14
? '000
60,018,765
Group
31-Dec-13
? '000
65,567,707
Company
Company
31-Dec-14 31-Dec-13
? '000
? '000
59,619,604 63,801,527
20.3 There was no write down of inventories and neither was any there reversal of previously write
down during the period (2013: Nil)
20.4 There are no inventories that are expected to be recovered after more than 12 months. (2013: Nil)
ANNUAL REPORT
2014
89
21. Trade and other receivables
Trade receivables
Allowance for doubtful debts
Staff loans and advances
VAT receivable
Deposit for Land
Insurance claim receivable in relation
to burnt assets destroyed in fire
Negotiable Duty Credit Certificates
Other receivables
Refundable Sugar price differential
Allowance for impaired other receivables
Amount due from related parties -(Note 31.3)
Group
Group
31-Dec-14 31-Dec-13
? ’000
? ’000
7,522,278
8,720,281
(682,087) (1,715,834)
6,840,191
7,004,447
Company
31-Dec-14
? ’000
7,522,278
(682,087)
6,840,191
Company
31-Dec-13
? ’000
7,651,599
(647,151)
7,004,448
298,873
1,032,679
-
211,624
1,023,273
-
77,389
248,279
864,647
152,959
248,279
864,647
666,911
374,500
666,911
374,500
805,683
805,683
805,683
805,683
1,436,725 6,982,740
1,315,787
1,289,159
- 2,019,466
2,019,466
(276,412)
(200,783)
(80,095)
(65,674)
3,208,193 1,021,587 31,300,346 25,409,164
7,172,652 12,269,078 35,243,529 31,022,613
14,012,843 19,273,525 42,083,720 38,027,061
21.1 Trade Receivables
The average credit period on sales of goods is 30 days. Allowances for doubtful debts are recognised against
trade receivables outstanding beyond 365 days based on estimated irrecoverable amounts. Previous
experience has shown that receivables that are past due after 365 days are doubtful of recovery. Allowances
for doubtful debts are recognised against trade receivables due over 180 days and below 365 days based on
estimated irrecoverable amounts determined by reference to past default experience of the counterparty
and an analysis of their current position.
Before accepting any new customer to buy on credit, the customer must have purchased goods on cash
basis for a minimum period of six months in order to test the financial capability of the customer. Based on
good credit rating by the credit committee of the Group, the customer may be allowed to migrate to credit
purchases after the presentation of an acceptable bank guarantee which must be valid for one year.
Trade receivables disclosed above include amounts (see below for aged analysis) that are past due more
than 30 days as at the reporting date for which the Group has not recognised an allowance for doubtful
debts because there has not been a significant change in credit quality and the amounts are still considered
recoverable.
90
ANNUAL REPORT
2014
About Us
21.2 Age analysis of trade receivables that are past due but not impaired
Group
Group
31-Dec-14 31-Dec-13
? ’000
? ’000
0-30 days
3,555,159 3,555,159
30-60 days
1,669,754 1,669,754
61-90 days
1,419,689 1,419,689
91-180 days
195,589
359,845
Total
6,840,191
7,004,447
21.2 Age analysis of trade receivables that are past due and impaired
Group
Group
31-Dec-14 31-Dec-13
? ’000
? ’000
Above 365 days
682,087
1,715,834
Allowance for credit losses
Balance brought forward
1,715,835
507,983
Effect of acquisition under common control
- 1,052,127
Impairment losses recognised on receivables
155,724
Amount written off during the year as uncollectible
Amounts recovered during the year
(1,033,748)
682,087
1,715,834
Company
31-Dec-14
? ’000
3,555,159
1,669,754
1,419,689
195,589
6,840,191
Company
31-Dec-13
? ’000
1,625,398
1,763,534
2,873,547
741,969
7,004,448
Company
31-Dec-14
? ’000
682,087
Company
31-Dec-13
? ’000
647,151
647,151
46,479
(11,543)
682,087
507,983
139,168
647,151
Operational
Review
Corporate
Governance
Financial
Statements
21.3 Concentration Risk
About 32% of the trade receivables are due from a single customer. The Group evaluates the concentration
of risk with respect to trade receivables as low, as the concentration is with a well- established local blue
chip company. Its customers otherwise are diverse, including both corporate entities and a large number of
individual end users. The requirement for impairment is analysed at each reporting date on an individual
basis for corporate and individual customers.
22. Cash and Cash Equivalent
For the purpose of the statement of cash flows, cash and cash equivalents include cash on hand and in
banks and short term deposits with 30 days tenure. Cash and cash equivalents at the end of the reporting
period as shown in the statement of cash flows can be reconciled to the related items in the statement of
financial position as follows:
Cash in hand
Bank balances
Short term deposits
Group
31-Dec-14
? ’000
13,091
6,189,387
6,202,478
Group
31-Dec-13
? ’000
13,953
3,791,413
4,650,000
8,455,366
Company
31-Dec-14
? ’000
13,091
6,103,872
6,116,963
Company
31-Dec-13
? ’000
13,271
3,201,517
4,650,000
7,864,788
The short term deposits are placed on call of 30 days tenure with interest ranging between 9% to 13%. All
short term deposits have been liquidated as at end of 31st December, 2014.
ANNUAL REPORT
2014
91
23. Share capital
The balance in the share capital account was as follows:
Group
31-Dec-14
? ’000
Group
31-Dec-13
? ’000
Company
31-Dec-14
? ’000
Company
31-Dec-13
? ’000
Authorised:
12,000,000,000 Ordinary shares of 50k each
Allotted, called up issued and fully paid:
12,000,000,000 Ordinary shares of 50k each
6,000,000
6,000,000
6,000,000
6,000,000
6,000,000
6,000,000
6,000,000
6,000,000
24. Share premium
Authorised:
12,000,000,000 ordinary shares of
50k each issued at 52.67k premium
6,320,524
6,320,524
6,320,524
6,320,524
Share premium represents the excess of the shareholders' value over the nominal share capital at the point
of the commencement of operations in January 2006.
25. Retained earnings
Balance at the beginning of the year
Profit for the year
common control (Note 32).
Re-measurement of defined benefit obligation
Payment of dividend (Note 31.1).
25.1 Non-controlling interest
Share of loss for the year
Balance at end of year
92
Group
Group
31-Dec-14 31-Dec-13
? ’000
? ’000
34,838,649 33,948,635
11,649,425 10,980,516
Company
Company
31-Dec-14 31-Dec-13
? ’000
? ’000
41,496,988 33,948,635
11,908,690 13,537,612
- (4,101,243)
10,741
10,741
(7,200,000) (6,000,000) (7,200,000) (6,000,000)
39,288,074 34,838,649 46,205,678 41,496,988
(181,232)
(13,646)
(194,878)
(46,648)
(134,584)
(181,232)
ANNUAL REPORT
2014
-
-
About Us
26. Borrowings
Bank loans
Related party loan (Note 26.1)
Current
Non-current
Balance on acquisition under common control
Additions
Payments
Group
31-Dec-14
? ’000
385,052
2,000,000
2,385,052
Group
31-Dec-13
? ’000
921,146
921,146
Company
31-Dec-14
? ’000
2,000,000
2,000,000
Company
31-Dec-13
? ’000
-
2,385,052
2,385,052
536,094
385,052
921,146
2,000,000
2,000,000
-
-
1,453,930
-
921,146
2,000,000
(536,094)
2,385,052
(532,784)
921,146
2,000,000
2,000,000
Operational
Review
Corporate
Governance
Financial
Statements
-
26.1 On 12th December, 2014, the Group received a loan of ? 2 billion from a related party-Dangote
Industries Limited for Short term Working Capacity purpose over a period of 90 days at the prevailing
market interest rate of 13.5%. The loan is repayable in full at the end of the tenor plus interest on maturity.
The Loan is not secured by assets of the company.
26.2 Group
Fixed interest rate agricultural loan with remaining maturity period not exceeding 3 years. The loan is at an
interest rate of 9%.
27. Retirement Benefit Obligation
27.1 Defined Contribution Plans
The Group operates a defined contribution retirement benefit plan for all qualifying employees. The assets
of the plans are held separately from those of the Group in funds under the control of trustees.
The employees contribute 8% of their gross salary (basic, housing and transport) while the Group
contributes 10% of gross salary on behalf of the employees to the same plan.
The obligation of the Group and Company to the employer with respect to the retirement benefit plan is
recognised as an expense in the statement of profit or loss and amounts are ? 117.5million.
(2013:? 93.3million) and ? 161.5million, (2013: ? 191million) respectively.
27.2 Defined benefit plans
The Group operated a defined benefit plan for all qualifying employees up till 30th September, 2013.
Under the plan, the employees were entitled to retirement benefits which vary according to length of
service. At the date of discontinuation, qualified staff as at this date are to be paid their retirement benefit at
the point of exit hence the recognition as a current liability as it is payable on demand. The amounts stated
in the financial statement as at 2013 are based on actuarial valuation carried out in 2013.
For the purpose of comparison the present value of the defined benefit obligation, and the related current
service cost and past service cost stated in the books up till 30th September, 2013 was measured using the
Project Unit Credit Method.
ANNUAL REPORT
2014
93
The present value of the defined benefit obligation, and the related current service cost and past service
cost, were measured using the Project Unit Credit Method.
The most recent Actuarial Valuation was carried out in 2014 using the staff payroll of 30th September, 2013.
In calculating the liabilities, the consultant took the following into recognition:
** length of service rendered by each member of staff at the review date
** discounting of the expected benefit payments.
Investment risk
The present value of the defined benefit plan liability is calculated using a discount rate
determined by reference to high quality corporate bond yields; if the return on plan
asset is below this rate, it will create a plan deficit. Currently, the plan has a relatively
balanced investment in equity securities, debt instruments and real estates. Due to the
long-term nature of the plan liabilities, the board of the pension fund considers it
appropriate that a reasonable portion of the plan assets should be invested in equity
securities and in real estate to leverage the return generated by the fund.
Interest risk
A decrease in the bond interest rate will increase the plan liability; however, this will be
partially offset by an increase in the return on the plan's debt investments.
Longevity risk
The present value of the defined benefit plan liability is calculated by reference to the
best estimate of the mortality of plan participants both during and after their
employment. An increase in the life expectancy of the plan participants will increase
the plan's liability.
Salary risk
The present value of the defined benefit plan liability is calculated by reference to the
future salaries of plan participants. As such, an increase in the salary of the plan
participants will increase the plan's liability.
27.2a Financial Assumptions
The principal financial assumptions used for the purposes of the actuarial valuations were as follows:
?
Long term average discount rate (p.a)
?
Average pay increase (p.a)
?
Average rate of inflation (p.a)
27.3 Demographic Assumptions
Mortality in Service
The rates of mortality assumed for employees are the rates published in the A67/70 tables, published
jointly by the institute and the Faculty of Actuaries in the UK.
Sample age
25
30
35
40
45
Withdrawal from Service
Age band
Less than or equal to 30
31 - 39
40 - 44
45 - 50
51 - 60
94
ANNUAL REPORT
2014
About Us
27.4 Movement in gratuity
Balance as at 1 January
Current service charge
Finance cost
Actuarial losses - change in assumption
Actuarial losses - experience
Benefits paid from plan
Curtailments Gains/Losses
Group
31-Dec-14
? ’000
1,356,067
216,094
(44,413)
1,527,748
Group
31-Dec-13
? ’000
1,260,869
122,819
121,845
(145,277)
129,933
(81,237)
(52,885)
1,356,067
Company
31-Dec-14
? ’000
1,356,067
(44,413)
1,311,654
Company
31-Dec-13
? ’000
1,260,869
122,819
121,845
(145,277)
129,933
(81,237)
(52,885)
1,356,067
Operational
Review
Corporate
Governance
Financial
Statements
As at the date of the valuation, no fund has been set up from which payments can be disbursed. Dangote
Sugar Refinery expects to settle its obligations out of its existing reserves. The contribution into the gratuity
scheme was discontinued in 2013. At the date of discontinuation, all qualified staff as at date are to be paid
their entitlement at the point of exit which classifies the outstanding balance as a current liability as it is
payable on demand.
27.5 Retirement benefit plans
The amount included in the other comprehensive income arising from the entity's obligation in respect of its
defined benefit plans is as follows:
Group
Group
Company
Company
31-Dec-14 31-Dec-13 31-Dec-14 31-Dec-13
? ’000
? ’000
? ’000
? ’000
Actual (gain)/losses recognised in the year
(15,344)
(15,344)
Tax impact
4,603
4,603
(10,741)
(10,741)
28. Trade and other payables
Trade payables
Accruals & sundry creditors
Other credit balances
Due to related entities (Note 31.4)
Group
Group
Company
Company
31-Dec-14 31-Dec-13 31-Dec-14 31-Dec-13
? ’000
? ’000
? ’000
? ’000
6,726,020 15,596,813
6,398,704 15,477,683
16,154,096 1,996,036 15,775,706
1,843,771
369,340 2,993,535
142,285
2,778,671
1,977,529
2,487,426
1,292,565
1,408,041
25,226,985 23,073,810 23,609,260 21,508,166
The average credit period on purchases of goods from suppliers is 90 days. No interest is charged on the
trade payables.
ANNUAL REPORT
2014
95
28.1 Other credit balance is made up of the following:
Other Suppliers' accounts
VAT Payables
Contractors account
Other creditors
29. Other liabilities
Advance payment for goods
Group
31-Dec-14
? ’000
227,055
142,285
369,340
Group
31-Dec-13
? ’000
2,200,118
152,365
155,742
485,310
2,993,535
Company
31-Dec-14
? ’000
142,285
142,285
Company
31-Dec-13
? ’000
2,200,118
422,812
155,741
2,778,671
1,700,297
1,332,597
1,700,244
1,332,597
This represents advance payment by customers for finished goods
30. Financial Instruments
30.1The Group manages its capital to ensure that it will be able to continue as a going concern, while
maximising the return to stakeholders through the optimisation of its capital structure.
The capital structure of the Group is made up of equity comprising issued capital, share premium and
retained earnings. The Group is not subject to any externally imposed capital requirements.
The Group’s risk management committee reviews the capital structure of the Group on an annual basis. As
part of this review, the committee considers the cost of capital and the risks associated with each class of
capital. The gearing ratio as at 31st December, 2014 of 10% (see below) was at the lower end of the target
range.
Gearing ratio
The gearing ratio at year end is as follows:
Debt (ii)
Cash and bank balances (including cash and
bank balances in a disposal group held for sale)
Net Debt
Equity (ii)
Debt to equity ratio (%)
Group
31-Dec-14
? ’000
2,385,052
Group
31-Dec-13
? ’000
921,146
ii.Equity includes all capital and reserves of the Group that are managed as capital.
Company
31-Dec-13
? ’000
-
(6,202,478) (8,455,366) (6,116,963) (7,864,788)
(3,817,426) (7,534,220) (4,116,963) (7,864,788)
51,608,598 47,159,173 58,526,203 53,817,512
(7%)
(16%)
(7%)
(15%)
i.Debt is defined as both current and non-current borrowings.
96
Company
31-Dec-14
? ’000
2,000,000
ANNUAL REPORT
2014
About Us
30.2 Categories of financial instruments
Group
Group
Company
Company
31-Dec-14 31-Dec-13 31-Dec-14 31-Dec-13
Loans and Loans and Loans and Loans and
receivables receivables receivables receivables
? ’000
? ’000
? ’000
? ’000
Assets
Trade and other receivables (Note 30.2.1)
Cash and cash equivalents
9,242,700 14,514,646
6,202,478 8,455,366
15,445,178 22,970,012
Operational
Review
Corporate
Governance
9,034,512
8,745,496
6,116,963
7,864,788
15,151,475 16,610,284
Financial
Statements
30.2.1 Defined as total trade and other receivables excluding prepayments, accrued income and amounts
relating to taxation.
30.3 Liabilities
Borrowings
Other
Other
Financial
Financial
Liabilities Liabilities
2,385,052
921,146
22,880,116 17,592,848
25,265,168 18,513,994
Other
Financial
Liabilities
2,000,000
22,174,411
24,174,411
Other
Financial
Liabilities
17,321,453
17,321,453
30.3.1 Defined as total trade and other payables excluding taxation and social security.
The borrowings disclosed above are classified as financial liabilities measured at amortised cost. The
directors consider that the carrying amount of borrowings is approximately equal to their fair value.
30.4 Significant accounting policies
Details of the significant accounting policies and methods adopted (including the criteria for recognition,
the basis of measurement and the bases for recognition of income and expenses) for each class of financial
asset, financial liability and equity instrument are disclosed in note 4.
30.5 The Group is exposed to market risk, credit risk and liquidity risks. The Parent Company’s internal audit
and risk management team is responsible for monitoring its exposure to each of the mentioned risks. This
policy provides guidance over all treasury and finance-related matters and is underpinned by delegated
authority guidelines and detailed procedures. The main objectives of the policy are to ensure that sufficient
liquidity exists to meet the operational needs of the business, to maintain the integrity and liquidity of the
investment portfolio, and to manage the impact of foreign exchange and interest rate volatility on the
company’s net income.
30.6 Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate
because of changes in market prices. Market prices are affected by interest rate risk and foreign exchange
currency risk. Financial instruments affected by market risk include cash and cash equivalents, trade and
other receivables and trade and other payables. Market risk exposures are measured using sensitivity
analysis.
ANNUAL REPORT
2014
97
30.6.1 Interest rate risk management
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in market interest rates. The Group is exposed to fluctuations in interest rates on its
borrowings. The Group pays fixed/floating rate interest on its borrowings. The company actively monitors
interest rate exposures on its investment portfolio and borrowings so as to minimise the effect of interest
rate fluctuations on the income statement. The risk on borrowings is managed by the company by
maintaining an appropriate mix between fixed and floating rate borrowings. All loans, cash and cash
equivalent are fixed interest based and therefore the company does not have any exposure to the risk of
changes in Market rates
30.6.2 Interest rate sensitivity
The sensitivity analysis below have been determined based on the exposure to interest rates for Related
party loan at the prevailing market interest rate of 13.5% at the end of the reporting period. A 250 basis
point increase or decrease is used when reporting interest rate risk internally to key management personnel
and represents management's assessment of the reasonably possible change in interest rates. A 250 basis
points reflects a N50million impact on finance cost. A positive number below indicates an increase in profit
or equity for a 250 basis points change in the Finance cost. A negative number below indicates a decrease in
profit or equity for a 250 basis points change in the Finance cost.
30.6.3 Foreign currency risk management
Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in foreign exchange rates. The Group's exposure to the risk of changes in foreign
exchange rates is limited to foreign currency purchases of operating materials (e.g. finished equipment and
other inventory items) and trade receivables that are denominated in foreign currencies. Foreign exchange
exposure is monitored by the Group's treasury unit.
The Naira carrying amounts of the Group’s foreign currency denominated monetary assets and monetary
liabilities at the reporting date are as follows:
US DOLLARS
Trade and other payable
Bank Balance
Liabilities
31-Dec-14 31-Dec-13
$’000
$’000
14,038,557 15,475,912
-
Assets
31-Dec-14 31-Dec-13
$’000
$’000
5,019
442,994
Exchange rate of $1 = 170.18
Foreign currency sensitivity analysis
The Group is mainly exposed to the US dollar.
30.6.4 Foreign currency risk management
The following table details the Group’s sensitivity to a 15% (2013: 3%) increase and decrease in the Naira
against the US Dollar. 15% is the sensitivity rate used when reporting foreign currency risk internally to key
management personnel and represents management's assessment of the reasonably possible change in
foreign exchange rates. A positive number below indicates an increase in profit or equity for a 15% change
in the exchange rates. A negative number below indicates a decrease in profit or equity for a 15% change in
the exchange rates.
Liabilities
31-Dec-14 31-Dec-13
$’000
$’000
Assets
31-Dec-14 31-Dec-13
$’000
$’000
US DOLLARS
Effect on Profit or loss/Equity for a
15% (2013:3%) appreciation
2,105,783.51
464,277.36
(753)
(13,290)
Effect on Profit or loss/Equity for a
15% (2013:3%) depreciation
(2,105,784)
(464,277)
753
13,290
This is mainly attributable to the exposure outstanding on US dollar receivables and payables at the end of
the reporting period.
98
ANNUAL REPORT
2014
About Us
30.7 Credit risk management
Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or
customer contract, leading to a financial loss.
The Group is exposed to credit risk from its operating activities (primarily for trade receivables) and from its
investing activities, including deposits with banks and other financial institutions. The Group has a credit
management committee that is responsible for carrying out preliminary credit checks, review and approval
of bank guarantees to credit customers. A credit controller also monitors trade receivable balances and
resolves credit related matters.
Operational
Review
Corporate
Governance
Financial
Statements
30.7.1 Trade receivables (see note 20)
Concentration of risk
About 32% of the trade receivables are due from a single customer whose credit history is good. The Group
evaluates the concentration of risk with respect to trade receivables as low, as its customers are otherwise
diverse including both corporate entities and lots of individual end users. The requirement for impairment is
analysed at each reporting date on an individual basis for corporate and individual customers.
30.7.2 Deposits with banks and other financial institutions
Credit risk from balances with banks and financial institutions is managed by the Group’s treasury
department in accordance with its corporate treasury policy that spells out counterparty limits, list of
financial institutions that the Group deals with and the maximum tenure of fixed term funds. Surplus funds
are spread amongst these institutions and funds must be within credit limits assigned to each counterparty.
Counterparty credit limits are reviewed by the Corporate Treasurer periodically and may be updated
throughout the year. The limits are set to minimise the concentration of risks and therefore mitigate financial
loss through the potential counterparty’s failure.
30.7.3 Maximum exposure to credit risks
The carrying value of the Group’s financial assets represents its maximum exposure to credit risk.
The maximum exposure to credit risk at the reporting date was:
Group
Group
Company
Company
31-Dec-14 31-Dec-13 31-Dec-14 31-Dec-13
? ’000
? ’000
? ’000
? ’000
Trade receivables
Note 21
6,840,191
7,004,447
6,840,191
7,004,448
Other receivables
Note 21
3,964,459 11,247,491
3,943,186
5,613,450
Deposits with banks
Note 21
- 4,650,000
- 4,650,000
Amount due from related party
Note 31.3
3,208,193 1,021,587 31,300,946 25,409,164
14,012,843 23,923,525 42,084,323 42,677,062
30.8 Liquidity risk management
The Company monitors its risk to a shortage of funds by maintaining a balance between continuity of
funding and by continuously monitoring forecast and actual cash flows and by matching the maturity
profiles of financial assets and liabilities. To manage liquidity risk, our allocation of letters of credit on raw
sugar and spares/chemicals are spread over dedicated banks. Therefore, the establishment of these Letters
of Credit which are commitments by the banks provides security to our funds placed on deposit accounts. In
other words, our funds placed are substantially tied to our obligations on raw sugar and spares.
ANNUAL REPORT
2014
99
30.8.1 Liquidity maturity table
The following table details the Group's and Company's remaining contractual maturity for its financial
liabilities with agreed repayment periods. The tables have been drawn up based on the undiscounted
cashflows of financial liabilities based on the earliest date on which the Group and the Company can be
required to pay. The tables include both interest and principal cash flows.
Group
Carrying
amount
? ’000
Financial liabilities at amortised cost
Non-interest bearing:
Borrowings
Contractual amount
Less than More than
one year
one year
? ’000
? ’000
25,226,985 25,226,985
2,385,052 2,385,052
27,612,037 27,612,037
Total
? ’000
- 25,226,985
2,385,052
- 27,612,037
Company
Carrying
amount
? ’000
Financial liabilities at amortised cost
Non-interest bearing:
Borrowings
Contractual amount
Less than More than
one year
one year
? ’000
? ’000
23,609,260 23,609,260
2,000,000 2,000,000
25,609,260 23,609,260
Total
? ’000
- 23,609,260
- 2,000,000
- 25,609,260
Financial liabilities that can be repaid at any time have been assigned to the earliest possible time period. It
is not expected that the cash flows included in the maturity analysis could occur significantly earlier, or at
significantly different amounts.
100
ANNUAL REPORT
2014
31.
Related Party Information
31.1
Identity of Related Parties
About Us
Operational
Review
Related parties Nature of related party transactions
Corporate
Governance
Dangote Transport Limited services
prior to 2010.
Fellow subsidiary company that provided
haulage services prior to 2010
Dangote Textile Industries Limited
(LPFO)
Fellow subsidiary company that exchanges
inventory of Automotive Gas Oil (AGO) and
low pour fuel oil
Dansa Foods Limited
An entity controlled by the Directors of the
Company that has trading relationship
with the Company.
National Salt Company of Nigeria
(NASCON)
Fellow subsidiary from which the Company
purchases raw salt as input in the production
process
Dangote Nigeria Clearing Limited
Fellow subsidiary Company which is a
registered custom broker that provides
clearing services
Savannah Sugar Company Plc
Subsidiary- Exchange of spare parts
Dangote Industries Limited
(see note 28.3)
Parent company that provides management
support and receives 2% of turnover as
management fees
Greenview Development
Company Limited
Fellow subsidiary - Property rentals,
concessionaries of Lands were factory
and office building are located
Dangote Cement Plc
Related company - Supply of diesel and LPFO
Bluestar Investments U.K
Financial
Statements
Provision of agency and logistics services
Dangote Flour Mills Plc
Related company -Supplies of power
Dangote Pasta Limited
Related company -Supply of AGO LPFO
Dangote Noodles Limited
Related company- Supply of AGO LPFO
Dangote Agrosacks sacks
Related company- Supplies empty bags
for bagging of finished sugar
Key management personnel
(see note 31.7)
ANNUAL REPORT
2014
101
31.2 Effective 30st September, 2012, a majority shareholding in Dangote Flour Mills Plc, and its subsidiaries
Dangote Noodles Limited, Dangote Pasta Limited and Dangote Agrosacks was acquired by Tiger Brands, an
unrelated South African Company. Alhaji Aliko Dangote retains 10% of the controlling interest in the
Company, and sits on the Board of the new Companies as a Director, in his personal capacity. Thus, these
companies still meet the definition of a related party as the Companies are under the significant influence of
the ultimate controlling party of the Company.
During the year, group entities entered into the following trading transactions with related parties that are
not members of
102
Group:
Sales of goods & services
NASCON PLC
DANGOTE AGROSACKS LIMITED
SAVANNAH SUGAR COMPANY LIMITED
DANGOTE NIGERIA LIMITED -CLEARING
DANCOM TECHNOLOGIES
DANGOTE FOUNDATION
DANGOTE CEMENT
DANGOTE INDUSTRIES LIMITED
GREENVIEW DEV. COY. LIMITED
BLUESTAR INVESTMENTS
DANGOTE FLOUR
BLUESTAR SHIPPING
DANGOTE PORT OPERATIONS
DANGOTE NOODLES
Year ended
31-Dec-14
? ’000
1,754
388
115,608
18874
7
31,807
53,915
186,926
2
22,950
Company:
Sales of goods & services
NASCON PLC
DANGOTE AGROSACKS LTD
Year ended
31-Dec-14
? ’000
-
Year ended
31-Dec-13
? ’000
33171
51,155
-
Year ended
31-Dec-13
? ’000
-
ANNUAL REPORT
2014
Purchases of goods
& services
Year ended Year ended
31-Dec-14 31-Dec-13
? ’000
? ’000
166,089
225,852
2,226,838
40,890
5,353,580 24,164,773
4,741
84,962
92,715
590,462
2,997,544
Purchases of goods
& services
Year ended Year ended
31-Dec-14 31-Dec-13
? ’000
? ’000
166,089
225,852
2,188,622 1,650,192
About Us
31.3 The following balances were outstanding from related parties at the end of the reporting period
Amount owed by related parties
Dangote Textile Industries Limited
Dansa Foods Limited
Dangote Nigeria Clearing Limited
Savannah Sugar Company Plc
DIL Strategic Supplies
Dangote Pasta Limited
Dangote Noodles Limited
Dangote Group Transport Maintenance
National Salt Company of Nigeria Plc
Dangote Nigeria Limited
Dancom Technologies
Dangote Cement Plc
Dangote Ports Operations
Dangote Foundation
Dangote Agro sacks Limited
Dangote Fertilizers
Group
Group
Company
Company
31-Dec-14
11,038
243,632
246,535
216,709
56,153
801,242
16,157
2
54,015
59
576,224
979,984
6,443
3,208,193
31-Dec-13
31-Dec-14
11,038
243,632
28,092,152
246,535
216,709
56,153
643,320
16,157
2
54,015
59
31-Dec-13
11,038
23,263
24,342,055
198,529
216,709
56,153
454,238
13,351
30,037
52,266
60
11,462
3
25,409,164
11,038
23,263
198,529
216,709
21,535
454,238
13,351
30,037
52,266
60
558
3
1,021,587
576,224
1,137,907
6,443
31,300,346
Operational
Review
Corporate
Governance
Financial
Statements
31.4 The following balances were due to related parties at the end of the reporting period.
Amount owed to related parties
Dangote Cement Plc
Greenview Development Company Limited
Dangote Agrosacks Nigeria Limited
Bluestar Shipping
National Salt Company Plc
Dangote Foundation
Dancom Technologies
Dangote Group Transport Maintenance
DNL Clearing
MHF Property
Dangote Ports Operation
Dangote Intraplant
Bluestar Investments U.K
Obajana Transport
Group
31-Dec-14
1,342,785
134,345
65,482
30,715
28,932
1,922
11
238,474
134,863
1,977,529
Group
31-Dec-13
1,915,723
166,152
140,514
238,474
2,903
23,660
2,487,426
Company
31-Dec-14
657,821
134,345
65,482
30,715
28,932
1,922
11
238,474
134,863
1,292,565
Company
31-Dec-13
859,999
166,152
140,513
38,474
2,903
1,408,041
ANNUAL REPORT
2014
103
31.5 Sales of goods to related parties were made at the company's usual market price without any discount
to reflect the quantity of goods sold to related parties. Purchases were made at market price and there was
no discount on all purchases.
The amounts outstanding are unsecured and will be settled in cash. No guarantees have been given or
received.
Dangote Industries Limited (D.I.L) in recognition of the requirement of Transfer Pricing Regulations that all
transactions between connected taxable persons shall be carried out in a manner that is consistent with
arm’s length principle, has come up with basis of computing its Management fees and Royalty taking into
cognizance certain principles.
Therefore Dangote Sugar Refinery Plc shall pay management fee to Dangote Industries Limited (D.I.L)
based on DIL’s reimbursable expenses plus service charges at 7.5% of such expenses with effect from 1st
January, 2014.
Royalty payment shall be made in addition to Management Fees payable, from 1st January, 2015 at the rate
of 0.5% of the total revenue.
The amount due from the holding company represents current account balances
31.6 Loans to and from related parties
On 12th December, 2014, the Company received a loan of ? 2 billion from a related party - Dangote
Industries Limited - for Short term Working Capacity purpose over a period of 90 days at the prevailing
market interest rate of 13.5%. The loan is repayable in full at the end of the tenor plus interest on maturity.
The Loan is not secured by an asset of the company.
31.7 Key Management Personnel
104
List of Directors of DSR Plc
1
Aliko Dangote (GCON) Chairman
2
Mr. Graham Clark
3
4
Alh. Sani Dangote
5
Mr. Olakunle Alake
6
Mr. Uzoma Nwankwo
7
8
9
Alh. Abdu Dantata
10 Ms Mayram Bashir
Deputy Group Managing Director
Board Member
"
"
"
"
"
"
List of Key Management Staff
1
Mr. Graham Clark
2
3
Mr. Martin Welch
4
Mr. Mayroud El-sunni
5
Engr. Braimah Ogunwale
6
Mr. Abdulsalam Waya
7
Mr. Murtala Zubair
8
Mr. Chris Okoh
9
Mrs . Modupe Oguntade
Deputy Group Managing Director
Group Technical Manager
ED - Engr. & Oprs
General Manager, Refinery
Head, Sales/marketing
Dgm, HR/Admin
Process Manager
ANNUAL REPORT
2014
About Us
31.8 Directors and Key Management Personnel
The Remuneration of directors and other members of key management personnel during the year
comprised short term benefits of ? 200.670 million (2013:? 152.661 million)
31-Dec-14
? '000
200,670
200,670
Short-term benefits
Post-employment benefits
Other long-term benefits
Share-based payments
Termination benefits
Total
Directors
31-Dec-13
? '000
152,661
152,661
Group
31-Dec-14 31-Dec-13
? '000
? '000
Directors' emoluments comprise:
Fees
salaries
others
Emoluments of the highest paid Director were
Operational
Review
Corporate
Governance
Financial
Statements
Company
31-Dec-14 31-Dec-13
? '000
? '000
18,500
240,670
69,585
328,755
18,500
60,716
73,445
152,661
16,500
240,670
68,133
325,303
18,500
60,716
73,445
152,661
200,670
31,144
200,670
31,144
The number of Directors excluding the Chairman with gross emoluments within the bands stated below
were:
Group
Group
Company
Company
31-Dec-14 31-Dec-13 31-Dec-14 31-Dec-13
? '000
? '000
? '000
? '000
? '000
0-19,000
8
8
8
8
20,000-25,000
26,000-31,000
2
2
38,000-43,000
2
2
Employees
Average number of persons employed during the year:
Management
Senior staff
Junior staff
Aggregate payroll costs:
Wages, salaries, allowances and other benefits
Provision for gratuity
Pension cost
63
318
982
1,363
40
332
930
1,302
53
213
401
667
26
229
396
651
4,628,064
214,258
170,619
5,012,941
3,272,472
191,622
120,499
3,584,593
3,239,315
126,181
3,365,496
2,430,450
191,622
93,392
2,715,464
ANNUAL REPORT
2014
105
The number of employees with gross emoluments within the bands stated below are:
Group
31-Dec-14
Number
13
140
168
593
449
1,363
? '000
401-600
601-800
801-1,000
1,001-2,000
2,001-Above
Group
31-Dec-13
Number
305
186
246
341
224
1,302
Company
31-Dec-14
Number
5
45
88
293
236
667
Company
31-Dec-13
Number
8
81
73
279
210
651
32. Subsidiary Acquired
Year
2013
Savannah Sugar
Company Limited
Principal
Activity
Date
of Acquisition
Growing of cane and
production of sugar
01-Jan-13
Proportion Of Consideration
Voting Equity
Transferred
Interests
(? '000)
Acquired
95%
3,214,923
Savannah was acquired to facilitate the Group's backward integration plan.
32.1Consideration transferred
The consideration was cash of ? 3.214 billion paid to Dangote Industries Limited.
32.2 Assets acquired and liabilities recognised at the date of acquisition.
2013
? '000
Current assets
Inventories
Trade and other receivables
Cash and bank balances
Non-current assets
Biological asset
Deferred tax
Current liabilities
Current tax liabilities
Non-current tax liabilities
Borrowings
Intercompany loans
Deferred tax
106
1,505,539
75,582
134,775
16,687,326
609,454
-
(16,396,432)
(12,178)
(1,453,930)
(1,107,592)
(975,513)
(932,969)
ANNUAL REPORT
2014
About Us
32.3 Non-Controlling Interest
The Non-controlling interest (5% ownership interest in Savannah Company Limited recognised at the
acquisition date was measured by the proportionate share of net assets method at ? 46.648million.
32.4 Net cash outflow on acquisition of subsidiaries
Consideration paid in cash
Less: cash and cash equivalent balances acquired
Operational
Review
Corporate
Governance
2013
? '000
3,214,923
(134,775)
3,080,148
Financial
Statements
32.5 Effect of acquisition of subsidiary under common control
The group has opted for merger accounting in accounting for subsidiary acquired
2013
? '000
Purchase consideration
Parent Company's share of Net Assets acquired (95% in Savannah)
Effect of acquisition of subsidiary under common control
3,214,923
886,320
4,101,243
33. Contingent Liabilities
The Company is subject to additional assessed tax liability to the tune of ? 7.2 million, ? 17million and
? 75.99 million based on the tax audit carried by Lagos State Inland Revenue Service for Tax year 2011, 2012
and 2013 respectively.
The total of ? 4,312,736,234.98 was assessed by FIRS based on the Nationwide VAT and WHT verification
exercise for the period from 2008 - 2013. This includes the withholding tax of ? 2,529,600,000 paid on
dividend for the period under review which was remitted to FIRS through our Registrars, Veritas Registrars.
Letter of objection to the liabilities assessed against the company with all required documents have been
acknowledged by FIRS without any response. No provision has been made for this assessment based on
the evidences provided by the company against the claims for which responses were yet to be received as at
the year end.
The Company is subject to disputes and claims that arise in the normal course of business. As at 31st
December, 2014, the entity was subject to claims and disputed amounts of ? 31 million (2013: ? 244
million) We have made adequate provisions for these contingencies for the current year based on advice
from the Company's legal experts that this is the estimated likely liability payable by the Company.
Contingent Assets
None
34. Capital Commitments
As at 31st December, 2014, there were capital commitments in respect of the Lagos factory expansion
which amounted to ? 716 million (2013: ? 475.8 million).
35. Event after the Reporting Period
At the board meeting held on 31st March, 2015, the Board recommended a dividend of 40 kobo per
ordinary share to be paid to shareholders (total value ? 4, 800,000,000) for the year ended 31st December,
2014. This is subject to approval at the Annual General Meeting of the Group.
ANNUAL REPORT
2014
107
Non IFRS Statement - Statement of Value Added
31-Dec-14
? '000
94,855,203
5,351,644
100,206,847
Group
31-Dec-13
? '000
%
103,153,735
3,879,582
107,033,317
Less: Bought in materials and services:
- Imported
(76,074,068)
- Local
(3,169,753)
(81,499,773)
(3,395,824)
Revenue
Other income
Value Added
20,963,026 100
Company
31-Dec-14
31-Dec-13
? '000
? '000
%
%
94,103,677
102,467,361
2,574,787
3,749,656
96,678,464
106,217,017
(71,940,643)
(2,997,527)
%
(78,917,721)
(3,288,238)
22,137,720 100 21,740,294 100 24,011,058 100
Applied as follows:
To pay employees
Salaries, wages and
other benefits
2,117,610
10
2,976,528
13
1,581,723
7
2,175,547
11
To pay government
Taxes
5,701,133
28
5,213,659
24
5,694,554
27
5,207,161
20
Growth and payment of dividend
Deferred taxation
(2,063,760) (9)
205,568
1 (130,402) (2) 1,354,744
6
Depreciation
3,572,263 17
2885292 13 2,685,729
12 1,725,252
7
Profit for the year
11,635,780 54 10,845,932 49 11,908690
56 13,537,612
56
Other comprehensive
income/(loss) for the year
10741
10,741
0
20,963,026 100 22,137,720 100 21,740,294 100 24,011,057 100
Value added represents the additional wealth the Group has been able to create by its own and its
employees' efforts. This statement shows the allocation of that wealth among employees, capital
providers, government and that retained for future creation of more wealth.
This report is not prepared under IFRS. Instead, it has been prepared in compliance with the Company
and Allied Matters Act (CAMA) requirement.
108
ANNUAL REPORT
2014
Non IFRS Statement - Financial Summary
About Us
Group
Dec-2014
? '000
50,472,720
Intangible assets
263,886
Investments
Other assets
189,337
Biological assets
1,122,679
Held for sales investment in subsidiary
864,647
Biological assets
Deferred taxation assets
1,991,324
Net current assets
2,061,905
56,966,498
Group
Dec-2013
? '000
41,847,307
301,711
109,693
487,215
555,467
10,159,385
53,460,778
Borrowings
Deferred taxation liabilities
Gratuity provision
(4,259,509)
(1,527,748)
51,179,241
(385,052)
(4,741,717)
(1,356,067)
46,977,941
6,000,000
6,320,524
39,078,470
(219,753)
51,179,241
6,000,000
6,320,524
34,838,649
(181,232)
46,977,941
Revenue and profit
Revenue
94,855,203
103,153,735
15,273,151
11,401,300
16,265,159
10,845,932
Capital and reserves
Share capital
Share premium
Retained earnings
Per share data- (Kobo)
Earnings per share (Kobo) - Basic
Earnings per share (Kobo) - Annualised
Earnings per share (Kobo) - Net assets
97
97
426
Operational
Review
Corporate
Governance
Financial
Statements
90
90
391
Earnings per share are based on profit after taxation and the weighted average number of issued and
fully paid ordinary shares at the end of each financial year.
This report is not prepared under IFRS. Instead, it has been prepared in compliance with the Company
and Allied Matters Act (CAMA) requirement
ANNUAL REPORT
2014
109
Non IFRS Statement Five Year Financial Summary
Company
Dec 2012
Dec 2011
Dec 2010
IFRS
IFRS
NGAAP
? '000
? '000
? '000
17,898,310 16,283,504 15,509,562
Dec 2014
IFRS
? '000
29,346,717
Intangible assets
203,752
Investments
3,214,923
Other assets
Held for sales investment in subsidiary
864,647
Dec 2013
IFRS
? '000
26,250,037
256,912
3,214,923
109,693
-
Biological assets
Net current assets
30,348,545
63,978,584
(3,877,709)
(1,311,654)
58,789,221
29,701,930 31,759,739 25,702,743 26,167,048
59,533,495 50,530,600 42,886,639 42,651,598
(4,359,916) (3,000,568) (2,837,360)
(91,468)
(1,356,067) (1,260,873)
(915,570) (585,533)
53,817,512 46,269,159 39,133,709 41,974,597
6,000,000
6,320,524
46,468,697
58,789,221
6,000,000
6,320,524
41,496,988
53,817,512
Deferred taxation liabilities
Gratuity provision
Capital and reserves
Share capital
Share premium
Retained earnings
Revenue and profit
Revenue
864,647
7,904
-
6,000,000
6,320,524
33,948,635
46,269,159
864,647
35,745
-
972,337
2,651
-
6,000,000 6,000,000
6,320,524 6,320,524
26,813,185 26769129
39,133,709 39,089,653
94,103,677 102,467,361 106,888,054 107,218,642 89,980,499
17,472,841 20,099,517 16,331,679 10,921,229 16,146,930
12,171,708 13,537,612 10,796,416
7,403,597 11,282,240
Per share data- (Kobo)
Earnings per share (Kobo) - Basic
99
113
90
62
94
Earnings per share (Kobo) - Annualised
99
113
180
62
94
Earnings per share (Kobo) - Net assets
490
448
386
326
326
This report is not prepared under IFRS. Instead, it has been prepared in compliance with the requirement of
the Companies and Allied Matters Act (CAMA).
Earnings per share are based on profit after taxation and the weighted average number of issued and fully
paid ordinary shares at the end of each financial year.
110
ANNUAL REPORT
2014
Tour of Savannah Sugar
ANNUAL REPORT
2014
111
Notice of Annual General Meeting
NOTICE IS HEREBY GIVEN that the Ninth Annual General Meeting of DANGOTE SUGAR REFINERY PLC. will
be held at the Latana Hall, Eko Hotel & Suites, Victoria Island, Lagos, on Friday, 22nd day of May, 2015 at
11a.m. to transact the following businesses:
Ordinary Business
1. To receive the Financial Statements for the year ended 31st December, 2014, the Reports of the
Directors, Auditors and Audit Committee thereon.
2. To declare a Dividend.
3. To re-elect Directors.
4. To authorize Directors to fix the remuneration of the Auditors.
5. To elect Members of the Audit Committee.
Special Business
6. To fix the remuneration of the Directors.
Proxy
A member of the Company entitled to attend and vote is entitled to appoint a proxy to attend and vote
instead of him/her. A proxy need not also be a member. A form is enclosed and if it is to valid for the
purposes of the meetings, it must be completed and deposited at the office of the Registrar, Veritas
Registrars Limited, Plot 89A Ajose Adeogun Street, Victoria Island, Lagos, not less than 48hours before the
time for holding the Meeting.
Closure of Register and Transfer Books
The Register of Members and Transfer Books of the Company will be closed from Tuesday 28th to Thursday
30th April, 2015, both dates inclusive, to enable the Registrar prepare for the payment of Dividend.
Dividend and Dividend Warrants
If the dividend recommended by the Directors is approved by members at the Annual General Meeting, it
will be paid to Shareholders whose names appear in the Company's Register of members at the close of
business on Monday, 27th April, 2015. Shareholders who have completed the E-Dividend Mandate Form
will receive a direct credit of the Dividend into their bank accounts on Friday, 22nd May, 2015, while the
Dividend Warrants of Shareholders who have not completed the E-Dividend Mandate Form will be posted
by Monday, 25th May, 2015.
Unclaimed Share Certificates and Dividend Warrants
All Shareholders are hereby informed that the Registrars of the Company are holding the Share Certificates
and Dividend Warrants which have been returned by the Post Office as “unclaimed”. Some Dividend
Warrants sent to Shareholders registered addresses are yet to be presented for payment or returned to the
Registrars of the Company for validation.
Audit Committee
In accordance with section 359(5) of the Companies and Allied Matters Act [Cap C20, Laws of the
Federation of Nigeria, 2004], a nomination (in writing) by any member or a shareholder for appointment to
the Audit Committee should reach the Company Secretary at least 21 days before the date of the Annual
General Meeting.
BY ORDER OF THE BOARD
CHIOMA MADUBUKO
Company Secretary/Legal Adviser.
FRC/2014/NBA/00000007451
3rd Floor, Greenview Development Nigeria Ltd Building,
Terminal “E” Apapa Port Complex,
Lagos, Nigeria.
Dated this 31st day of March, 2015
112
ANNUAL REPORT
2014
Directors And Professional Advisers
About Us
Board of Directors
Alhaji Aliko Dangote, GCON
Mr. Graham Clark (Australian)
Alhaji Sani Dangote
Mr. Olakunle Alake
Alhaji Abdu Dantata
Mr. Uzoma Nwankwo
Ms. Maryam Bashir
-
Operational
Review
Chairman
Deputy Managing Director
Non Executive Director
Independent Non-Executive Director
Corporate
Governance
Financial
Statements
Company Secretary/Legal Adviser
Chioma Madubuko (Mrs)
Auditors
Akintola Williams Deloitte (Chartered Accountants)
235 Ikorodu Road, Ilupeju, Lagos.
Bankers
Access Bank Plc
Diamond Bank Plc
Ecobank Nigeria Plc
Fidelity Bank Plc
First Bank of Nigeria Plc
First City Monument Bank Plc
GTBank Plc
Jaiz Bank Plc.
StanbicIBTC Bank Plc
Standard Charted Bank Nigeria Ltd
UBA Plc
Zenith Bank Plc
ANNUAL REPORT
2014
113
Corporate Information
Capital Market Information
NSE Ticker Symbol
Date Listed
Financial Calendar (year End)
Authorized/Paid Up Share Capital
Dansug
18th March, 2007
31st December
12,000,000,000 Ordinary Shares of 50k each
Shareholder Information
RC Number
Date of Incorporation
613748
January 2005
Registered Office
3rd Floor, GDNL Building
Terminal E, Shed 20
NPA Wharf Port Complex
Apapa
Lagos
Factory
Shed 20 Apapa Wharf
Apapa
Lagos
Subsidiary
Numan, Adamawa State
Registrar And Transfer Office:
Veritas Registrars Limited (formerly Zenith Registrars Ltd)
Plot 89a, Ajose Adeogun Street, Victoria Island, Lagos
Corporate Communications Contact
Ngozi Ngene
+234 1 761 7881
[email protected]
Investor Relations
Carl Franklin
+44 207 399 3070
[email protected]
114
ANNUAL REPORT
2014
Share Capitalisation History
About Us
Issued &
Issued
Authorised
Fully Paid Up
& Fully Pd
Year
Authorized [ ? ’000]
[ ? ‘000]
[ ? ‘000]
[ ? ’000]
Consideration
Increase Cumulative No. of Shares Increase Cumulative No. of Shares
27-12-04
50,000
50,000
50,000
500
500
500
Cash
30-06-06
0
50,000
50,000
49,500
50,000
50,000
Scheme
Shares
26-07-06 5,950,000 5,000,000 12,000,000 4,950,000 5,000,000 10,000,000 Bonus & Stock
Split from
? 1.00 to 50k
27-03-08
0 5,000,000 12,000,000 1,000,000 6,000,000 12,000,000
Bonus
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
115
V ERITAS R EGISTRARS
(formerly Zenith Registrars)
RC: 510155
Plot 89A, Ajose Adeogun Street, P.O. Box 75315, Victoria Island, Lagos
Telephone: (01) 2708930-4, 2784167 –8; Fax:(01)2704085
[email protected];
www.veritasregistrars.com
Mandate For E-dividend
e - DIVIDEND MANDATE
FORM FOR DANGOTE SUGAR
Affix
Passport
Photograph
(to be stamped by the Bank)
I/We hereby request that from now, all dividends due to me/us from my/our shareholding in
Dangote Sugar Refinery Plc becredited to my/our bank account named below.
/
Date: DD/MM/YYYY
/
Surname/Company’s Name
Other Names (for Individual Shareholder)
Present Postal Address
City
State
E-mail Address
Mobile (GSM) Phone Number
Clearing House Number
Bank Name
Branch Address
Bank Account Number
Bank Sort Code
Company Seal/Incorporation No. (Corporate Shareholder)
Shareholder’s Signature or Thumbprint
Shareholder’s Signature or Thumbprint
For Bank’s use only
Date account was established:
Authorized Signature and Stamp of Bankers
/
/
Authorized Signature and Stamp of Bankers
ANNUAL REPORT
2014
7
The Registrars
VERITAS Registrars Limited (formerly Zenith Registrars Ltd)
Plot 89A Ajose Adeogun Street,
P. O Box 75315
Victoria Island
Lagos
ANNUAL REPORT
2014
DANGOTE SUGAR REFINERY PLC. RC: 613748
The Registrar
Veritas Registrars Limited (formerly Zenith Registrars Ltd)
Plot 89a, Ajose Adeogun Street Victoria Island, Lagos.
PROXY FORM
Ninth Annual General Meeting to be held at Latana Hall, The Eko Hotel & Suites, Victoria Island, Lagos on Friday, 22nd May, 2015.
I/WE ...............................................................................................................................................................................................................................................................
of .....................................................................................................................................................................................................................................................................
being a shareholder of Dangote Sugar Refinery Plc, hereby appoint ........................................................... or failing him/her
....................................................................................................................or ..................................................................................................................................................
as my/our Proxy to act and vote for me/us on my/our behalf at the 9th Annual General Meeting to be held on Friday, the 22nd day of May, 2015
and at any adjournment thereof.
DATED THE .................... DAY OF ................................... 2015
NO.
I/We desire this proxy
to be used in favour
of/or against the
resolution as
indicated alongside
(strike out whichever
is not required).
1.
2.
3.
3.1
3.2
3.3
4.
5.
6.
SHAREHOLDER’S SIGNATURE .........................................................
ORDINARY BUSINESS
FOR
AGAINST
To receive the Financial Statements for the year ended 31st December, 2014,
the Reports of the Directors, Auditors and Audit Committee thereon.
To declare a dividend
To elect or re-elect Directors
Re-election of Olakunle Alake, as a Director, who is retiring by rotation
Re-election of Maryam Bashir, as a Director, who is retiring by rotation
Re-election of Konyinsola Ajayi, SAN as a Director, who is retiring by rotation
To authorize Directors to fix the remuneration of the Auditors.
To elect the members of the Audit Committee
Special Business
To fix the remuneration of the Directors.
Please indicate with an “X” in the appropriate column, how you wish your votes to be cast on the resolutions set out above. Unless
otherwise instructed, the Proxy will vote or abstain from voting at his/her discretion.
This proxy form should NOT be completed and sent to the registered office if the member will be attending the meeting.
NOTE
i. A member (shareholder) entitled to attend and vote at the Annual General Meeting is entitled to appoint a proxy in his stead. All
proxy forms should be deposited at the registered office of the Registrar (as in notice) not later than 48 hours before the meeting.
ii. In the case of Joint Shareholders, any of them may complete the form, but the names of all Joint Shareholders must be stated.
iii. If the shareholder is a Corporation, this form must be executed under its Common Seal or under the hand of some officers or an
attorney duly authorised.
iv. The Proxy must produce the Admission Card sent with the Notice of the meeting to gain entrance to the meeting.
v. It is a legal requirement that all instruments of proxy to be used for the purpose of voting by any person entitled to vote at any
meeting of the shareholders must bear appropriate stamp duty from the Stamp Duties office (not adhesive postage stamps).
Before posting this form, please tear off this part and retain it for admission to the meeting.
ADMISSION
C A R D
NAME AND ADDRESS
OF SHAREHOLDER(S):
NUMBER OF SHARES HELD:
Please admit……………………………….. …. to the 9th Annual General Meeting of Dangote Sugar Refinery Plc, to be held at Latana Hall,
The Eko Hotel & Suites, Victoria Island, Lagos on Friday, 22nd May, 2015 by 11a.m prompt.
Signature of person attending: ....................................................................................
•
The Shareholder or his /her proxy should produce this admission card in
order to obtain entrance to the Annual General Meeting.
•
You are requested to sign this card at the entrance in the presence of the
Company Secretary or her Nominee on the day of the Annual General
Meeting.
Please be advised that to enable a Proxy gain
entrance to the meeting, the Proxy Form should be
duly completed and delivered to the Company
Secretary not later than 48 hours before the time
fixed for the meeting.
The Registrars
P. O Box 75315
Victoria Island
Lagos
ANNUAL REPORT
2014
SUGAR
Veritas Registrars Limited (formerly Zenith Registrars Limited)
Plot 89A, Ajose Adeogun Street, P.O. Box 75315, Victoria Island, Lagos
Telephone: (01) 2708930-4, 2784167 –8; Fax:(01)2704085
[email protected];
www.veritasregistrars.com
e-BONUS (DIRECT CREDIT TO CSCS ACCOUNT)
Account No:_________________
I/We have _______________ units of Dangote Sugar Refinery Plc shares.
I/We hereby request and authorise you to credit my/our CSCS account (statement
attached) with BONUS accruing on my/our holdings.
I/We indemnify the Directors of Dangote Sugar Refinery Plc against all claims and
demands (and any case expense thereof which may be made in consequence of your
complying with this instruction:
Ibese, Ogun State, Nigeria
Shareholder’s Name:
…………………………………………………………………………………………………
SURNAME
OTHER NAMES
Shareholder’s Address: ………………………………………………………………………………………………………….
………………………………………………………………………………………………………..
Mobile Tel:
…………………………………………………………………………………………………………
Account
No:_________________
Date:
……………………………………………………………………………………………………….
I hereby affirm that the information given above are true of me ._____________________
Shareholder’s Signature
1. Please attach copies of CSCS statement
2. CSCS transaction listing
3. Name of Stockbrokers
FOR REGISTRAR’S USE ONLY
Action taken:
Credited
DATE
Not Credited
Officer’s Name & Sign:_______________________________
Pending
Unclaimed Dividend Position as at 31st December, 2014
About Us
The Company has been declaring Dividend since it became a public Company in March,
2007. Currently, the dividend account indicates that some dividend warrants have not been
presented to the Bank for payment, while others were returned to the Registrar unclaimed,
because the addresses have changed or could not be traced.
Financial Year Dividend
No
11/04/2007
27/04/2007
09/09/2007
31/10/2007
09/04/2008
08/09/2008
03/07/2009
30/07/2010
25/05/2011
18/05/2012
14/05/2013
1
2
3
4
5
6
7
8
9
10
11
Final/Interim
Final
Interim 1
Interim 2
Interim 3
Half Year Interim
Final
Final
Final
Final
Final
Final
Total Dividend
Declared ( ? )
11,388,819,816.78
3,433,139,219.03
3,257,223,236.85
3,192,370,844.23
5,000,000,000.00
10,200,000,000.00
3,780,817,535.25
10,800,000,000.00
6,480,000,000.00
3,240,000,000.00
7,200,000,000.00
Operational
Review
Corporate
Governance
Net Amount
Unclaimed as
at 31-Dec-14
1,079,570.00
575,157.00
747,539.00
517,180.00
452,470.00
2,803,380.00
16,723,000.00
53,786,700.00
3,801,871.00
79,117,815.00
97,057,570.00
Financial
Statements
We therefore request that all affected shareholders should fill the Shareholders information
update and the mandate for e-dividend payment forms or please contact: -
The Registrars
P. O Box 75315
Victoria Island
Lagos
ANNUAL REPORT
2014
List of unclaimed dividends warrants
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
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
7
9
218461
215022
144
150
124330
116790
202
216
233
236
215358
247
249
263
268
272
215423
118349
231626
119585
310
217322
319
110485
344
364
365
121234
445
447
482
449
122399
489
466
475
212682
220774
480
227253
121125
538
531
533
555
559
563
575
583
587
623
596
626
629
699
703
679
685
213637
208362
221398
221399
221400
801
214018
209317
50256
50258
31434
94959
50302
50303
29977
20579
91088
31443
99581
50327
18105
91090
91092
31455
25521
50332
43934
50348
39039
31457
50352
50368
94961
50373
50372
91098
31458
39040
39043
50402
43944
31462
50405
31469
19406
31465
29980
43951
20583
37567
43952
43961
91100
48320
39053
31476
49097
94965
31479
48326
31484
43969
48332
43982
89800
94967
50433
89051
31491
31494
50462
50463
50464
50465
49101
44006
69
70
71
72
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
213976
841
852
935
858
865
938
882
939
898
900
941
908
911
912
920
931
962
124691
985
969
209545
979
123246
1021
1023
221642
221641
1030
1037
1050
228891
212940
1051
221570
224341
1084
223941
208325
1091
215936
1413
1103
1109
1111
206083
206748
206082
1420
1144
1146
1154
1159
1171
1178
1179
1180
1207
1212
1429
1232
216560
1240
213072
1256
1262
1273
1274
39090
24926
50478
25531
31502
27945
31509
44026
31512
31505
44028
31514
48344
44030
31506
44033
50483
104533
49112
50497
49109
44042
31519
31529
50502
44046
31571
31572
48349
44049
38939
23313
44101
39114
44102
23315
31537
48374
44107
44056
31573
50533
25532
13488
19993
104538
44116
104539
50534
48358
44065
99603
31547
44066
39126
31548
31549
89059
48361
44123
50520
38822
39135
50539
31555
89060
48363
44080
2004 Investment Club
2hs Commercial Ventures
A. Musa Surajo
Aanthony-ola Theresa Oyeronke
Aaron Friday
Aba Folakemi Caroline
Abah Adaora Ifeyinwa Edith
Abailim Peter Uchenna
Abajingin Olalekan Tunde
Abalaka Daniel
Abal-yamani Mohammed K Kafa
Abandi Frankline Emmanuel
Abangwu Peace Anayochi
Abanire Balikis Ajoke
Abanire Sariat Atinuke
Abanofor Valentine Chukwudubem
Abanum Godspower
Abanum Sebastine Oghenemurok Or
Abari Joy
Abarigwe Emeka
Abarshi Ramatu Aliyu
Abarshi Rilwan Hussein
Abasiene Uno Edet
Abass Abibat
Abass Babatunde Olayode
Abassah Nneoma Silverline
Abassah Silverline Nneoma
Abatan Timothy Olayinka
Abatan Tokunbo Modupe
Abatuba Aromnde S
Abba Abdulkadir Bala
Abba Abdulmumin
Abba Abdulrazaq Yalwa
Abba Ahmed Tanko
Abba Gana Ibrahim
Abba Jaye Bishir
Abba Maimuna
Abba Saadatu
Abba Ugo C.
Abba Umma Ahmed
Abba Usman
Abba Waziri Rukkayyatu
Abba Zaharadden Dauda
Abbas Sanusi Amina Yarbichi
Abbas Titilayo Adedapo
Abbas Yahaya
Abbulazeez Hamzat
Abbulkadir Zainab Zainab
Abbulmalik Abdullahi Alabi
Abdlazeez Olalekan Abdl-semiu
Abdu Adama Pinado
Abdu Ahmed
Abdu Ali Sanusi
Abdu Bashir
Abdu Daura Lawal
Abdu Maisauki Auwalu
Abdul Ibrahim
Abdul Azeez Salahudeen Ariyayo
Abdul Olubukola Temitope
Abdul Risi
Abdulai Ojone Salametu
Abdulazeez Ibrahim
Abdulfatai Adejoke Salimat
Abdulfatai Babatunde Adeniyi
Abdulfatai Hassan Adesegun
Abdul-gadir Amina Yunusa
Abdulganiyu Muideen Atilola
Abdulhalim Ahmad Muhammad
ANNUAL REPORT
2014
Abdulhameed Isiaka
Abdulhamid Aminu Isa
Abduljamiu Moshood Kam-salem O A
Abdulkadir Bashir
Abdulkadir Abdulkadir Kabir
Abdulkadir Abraham Ebenezer
Abdulkadir Aisha Aisha
Abdulkadir Aminu Aliyu Abba
Abdulkadir Fatima Abdulkadir
Abdulkadir Ibrahim Mohammad
Abdulkadir Ismail Tsauni
Abdulkadir Khadija Khadija
Abdulkadir Mohammed Dikko
Abdulkadir Muhammad Bissallah
Abdulkadir Mujahid Kabir
Abdulkadir Salimat
Abdulkadir Yusuf
Abdulkareem Hakeem Agboola
Abdulkareem Halidat Amoke
Abdul-kareem Haolat Bamidele
Abdulkareem Khadijat
Abdulkareem Oziggis Tijjani
Abdulkareem Taofeek Amolegbe
Abdulkarim Halima Abubakar
Abdullah Tawfiq Ola
Abdullahi Abba Muhammad
Abdullahi Abdulhannan
Abdullahi Abdulmannan
Abdullahi Abdulmutalabi Lawal
Abdullahi Abdussalamu Uba
Abdullahi Abubakar Naamo
Abdullahi Abubakar Sadiq
Abdullahi Abubakar Urologist
Abdullahi Abubakar Yaro
Abdullahi Adam
Abdullahi Alhaji Yakubu
Abdullahi Aliyu
Abdullahi Almustapha Dangani
Abdullahi Amar
Abdullahi Aminu Adamu
Abdullahi Aminu Kurna
Abdullahi Bako Idris Doma
Abdullahi Bala
Abdullahi Bashir Musa
Abdullahi Bashir Muhammed
Abdullahi Firdausi
Abdullahi Garba Sagagi
Abdullahi Hafsat
Abdullahi Hajara Umar
Abdullahi Hamza Darma
Abdullahi Haruna
Abdullahi Hassan Waziri
Abdullahi Hayatu
Abdullahi Ibrahim Fagge
Abdullahi Idris Atogbo
Abdullahi Idris Abdullahi
Abdullahi Idris Ojotu
Abdullahi Khadijat
Abdullahi Labo Muntari
Abdullahi Mohammed
Abdullahi Mohammed
Abdullahi Mohammed Bodmas
Abdullahi Mohammed Nda
Abdullahi Muhammad Danladi
Abdullahi Muhammed Rahmat
Abdullahi Murtala Mohammed
Abdullahi Mustapha Ako
Abdullahi Mustapha K/naisa
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
137
138
139
140
141
142
143
144
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
1432
1276
1278
1283
1288
1290
1306
1309
1323
221363
1339
1341
118556
1438
1349
1355
121955
225007
1368
1373
1376
212506
1467
1472
1475
1478
208247
1493
1500
1501
1513
1514
1515
1516
229829
1518
1523
217049
1528
1530
1536
1544
1555
115816
1575
1578
1585
116828
1606
1612
1622
1635
1642
1646
124743
1722
1730
1732
1738
1757
1869
1880
1887
1906
1908
1911
1913
1918
44127
48365
39137
44082
24929
31558
44085
31560
44087
44135
31564
89062
31580
44137
31566
43346
50541
39146
19994
39148
39149
50542
44142
31583
31584
20594
37577
19424
31588
31589
50552
50553
50554
50555
23330
99618
44152
44154
39172
49118
31593
39176
37543
44158
49122
93734
89069
50571
93735
39192
49125
44163
50583
23331
44168
39216
31611
31613
50590
50594
89072
94983
50632
25540
27947
25541
101844
24934
205
206
207
208
209
210
211
212
213
214
215
216
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
1924
118720
1927
224262
1970
1974
1998
2013
2044
2046
2085
2056
2082
2097
2102
121683
2106
2115
116883
2141
2161
2165
124537
2191
2199
2203
2208
2210
2224
2225
207914
2235
2253
120370
208332
110781
2307
2309
2310
2331
2341
215428
2351
208546
232458
2387
2388
2389
2393
2390
214519
2401
2421
217790
230269
2470
2476
2478
2489
2503
2543
2557
2581
2584
2588
2599
232623
228543
39221
50647
31623
104543
50661
50663
50681
50684
50689
94994
50703
91119
50700
99624
50711
50737
50712
94997
31630
93743
91124
27952
99625
50767
25544
49138
25545
25546
25547
31632
50791
50792
50797
31634
31635
50817
38825
50825
50826
90110
95009
50840
50838
24936
27957
31642
31643
31644
31646
31645
39231
27958
50856
49145
50865
95028
99630
50877
50881
27960
50904
50907
50918
38946
101852
31652
104545
31654
Abdullahi Mustapha Kiru
Abdullahi Mustapha Lawal
Abdullahi Nafisatu
Abdullahi Nasiru
Abdullahi Ningi
Abdullahi Nuraddeen
Abdullahi Saadanu
Abdullahi Sadiq Ango
Abdullahi Salisu Hassan
Abdullahi Shuaibu
Abdullahi Sophie Henrietta
Abdullahi Sulaiman Mazakuka
Abdullahi Suleiman H.
Abdullahi Ubale Na' Abba
Abdullahi Umar Farouk
Abdullahi Ummu-hani
Abdullahi Usman Abu
Abdullahi Yakubu Asma'u
Abdullahi Yakubu Dutse
Abdullahi Yusuf
Abdullahi Yusuf Muhammad
Abdullahi Yusuf Usman
Abdulmalik Halima
Abdulmalik Maryam Dalhat
Abdulmalik Ramatu Moh'd
Abdulmalik Umar
Abdulmumin Zainab
Abdulmumini Hannatu
Abdulmumiw Bello Aisha
Abdulmumiw Bello Yasmin
Abdul-qadir Abdulsalam Yunusa
Abdul-qadir Aisha Yunusa
Abdul-qadir Aliyu Yunusa
Abdul-qadir Bilkis Ibrahim
Abdulqadir Yaqub Abdulqadir
Abdulrafiu Mrs Amina Folashade
Abdul-rahaman Jamila Ali
Abdulrahaman Yusuf
Abdulraheem Khadijat Abdulkareem
Abdulraheem Nurudeen Toyin
Abdulraheem Tajudeen
Abdulrahman Abdulrahman
Abdulrahman Folake
Abdulrahman Maryam
Abdulrahman Taofeeq
Abdulrahman-jalloh Sefinat Joke
Abdulramman Adamu
Abdul-rasheed Adam Akintayo
Abdulrauf Muhammad Monsor
Abdulsalaam Kunle Gafar
Abdulsalam Ayo Musliudeed
Abdulsalam Kabiru
Abdulsalam Oladele Luqman
Abdulsalam Ozohu Hadiza
Abdulssalam Nasiru Kabara
Abdurrazaq Olanrewaju Murtala
Abdu-said Muhammad
Abdu-said Said
Abdussalam Abdullateef
Abe Augustine Olutoyin
Abel Pauline Pambolo Peac Hes
Abelakun Taiwo Victor
Abepoju Charles Olufunsho
Abhoghophia Otto Nneka
Abhulimen Augustine Aigbiremon
Abhulimen Kate Nwamaka
Abhulimhen Akugbe
Abia Christopher Hannah
About Us
Abia Obiora Shadrack
Abia Richard Edem
Abia Usoro Collins
Abibu Abdulazeez Alh. H
Abidoye Bunmi Betty
Abidoye Halimat Oluwatobi
Abienekpen Fred. Isabo.
Abijoroh Henry
Abimaje Yahaya S Yahaya S
Abimbola Abiodun Temitope
Abimbola Blessing Ameh
Abimbola Emmanuel Ifeoluwa
Abimbola Tolulope
Abimiku Lorentzen Alash'le
Abiodun Adedayo
Abiodun Adeleke Atanda
Abiodun Akolonbo
Abiodun Esther Yetunde
Abiodun Olayinka Tony
Abiodun Omomiyi Moses
Abiola Ajibola Oyediran
Abiola Ayodeji Emmanuel
Abiola Joseph Adebayo
Abiola Oiuwakemi Adedoyin
Abiola Rafiu Alao
Abiola Tajudeen
Abioluwajumi Lucky
Abiona Abayomi Ayinde
Abiona Olufunmilayo Kehinde
Abiona Olukunle Solomon
Abiona Stephen
Abiose Olatunde Moruff
Abioye Julius Adelani
Abioye Mary Abiodun Pastor Mrs
Abioye Raphael Oladejo
Abisoye Bashiru
Abo Ahmed M Ringim
Aboaba Michael Taiwo
Aboaba Olanrewaju Ayodapo
Abodunde Alice Olayemi
Abodunrin Folorunso
Abodunrin Jimoh Adegboye
Abodunrin Peter Olufemi
Aboh Patience Akinsheye
Abohi David Lambusu
Abok Abi
Abok Anap
Abok Asang
Abok Jnr Samuel Atu
Abok Nyam
Aboki Umar
Abolade Adeyemi
Abolaji Oluseyi
Abolarin Olutayo
Abolarinwa Simbiat Bisola
Abonde Kazeem Abiade
Abonyi Oliver Chikaodili
Aborhawk Llmited
Aborisade Segun Jonathan
Aboullahi Baba Isa
Abraham Bankoleoluwa Samuel
Abraham Ladi
Abraham-ajayi Ayodeji Adedamola
Abrakang Sunday Egere
Abrre Peacebe
Abu Ehi Helen
Abu Emmanuel Eleojo
Abu Faruk Dr
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
273
274
275
276
277
278
279
280
281
282
283
284
285
286
287
288
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
2602
2645
2607
2628
117083
2654
2665
2670
223105
224768
3061
231562
2690
2694
2696
2705
2708
2725
229105
114912
2731
2741
2749
2754
121995
2778
221277
120633
2785
2790
216043
2799
2801
2805
2808
3068
2821
120236
123081
2834
3071
231559
3076
2852
2860
2866
231560
3067
220449
2906
2907
2912
218553
2920
231561
2941
2948
2969
2972
2978
225300
2984
231977
220064
3018
3093
3037
3046
8470
48386
31656
31657
31685
31660
50941
104546
31686
50944
20603
23333
19434
19435
44191
44193
31662
43360
50947
31689
19997
44199
44201
99632
31692
105103
31693
39280
44209
39250
48396
23336
31667
50952
44214
4516
39254
44268
31697
31669
89081
23337
44272
50955
25562
104552
23339
50959
44276
39260
23341
49152
50977
50961
23343
31674
31677
31678
44246
44249
44251
104553
50966
89812
101857
39285
39272
18107
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
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
3102
3113
3120
219078
3149
3151
3152
3164
214606
3179
3203
214552
3213
3214
123027
3226
3232
3235
230646
3256
3267
3269
3272
218795
3276
3287
3318
3328
3331
210968
217740
3341
3347
229298
3398
231566
3428
3438
3444
206698
3464
3484
3485
3488
3498
3532
3569
3570
3571
3573
3575
3588
3597
3612
221663
223186
223187
3656
3665
3683
3685
216911
3499
3711
3715
3739
3752
3763
31705
50985
91138
50991
25565
50998
50999
51004
27975
51009
20606
51018
51019
23798
25567
51024
37987
31713
51030
51036
31717
51042
31718
51045
20609
51051
44293
25569
25570
51068
27977
51073
20612
99644
31728
37590
31735
90121
51098
51117
51103
51111
51112
31739
51128
44304
44310
44311
51141
99655
99656
104558
44315
44317
39345
23355
23356
31754
44325
44329
51148
31771
51149
51150
39331
20615
31762
39339
Abu Feliwetu
Abu Gidado Aishatu
Abu Inekole Calista
Abu Owoicho Joseph
Abubakar Umar Bawa
Abubakar Abba Ibrahim
Abubakar Abdulkarim
Abubakar Abdullahi Barau
Abubakar Abdullahi Muhammad
Abubakar Adamu Ibrahim
Abubakar Ahmad Muhammad
Abubakar Ahmad Sadiq
Abubakar Aisha
Abubakar Aisha Giwa
Abubakar Aisha Yahaya
Abubakar Ali Haruna
Abubakar Aliyu
Abubakar Amorley Hauwa
Abubakar Amudat Bimbo
Abubakar Asma'u
Abubakar Audu Arobana
Abubakar Baffa Jakada
Abubakar Basiru Turaki
Abubakar Bilkis Deola
Abubakar Fatima Hayfaa
Abubakar Fatimah Inno
Abubakar Fatsuma Banaru
Abubakar Giwa Baba
Abubakar Hafiz
Abubakar Halima
Abubakar Hamza Adam
Abubakar Hassan Umar
Abubakar Hauna Jummai
Abubakar Hauwa Bello
Abubakar Husaina Adamu
Abubakar Hussein
Abubakar Ibrahim Bobo
Abubakar Ibrahim Shuaibu
Abubakar Isah Zuwaida
Abubakar Jamila
Abubakar Jibrin Shakirat Bukola
Abubakar Khadija Sadiq
Abubakar Kwalli Abdulmalik
Abubakar Lamido
Abubakar Mahmud
Abubakar Maryam
Abubakar Maryam Sadiq
Abubakar Muhammad
Abubakar Muhammad
Abubakar Muhammad Lawal
Abubakar Muhammad Maijamaa
Abubakar Muhammed
Abubakar Musa
Abubakar Musa
Abubakar Mus'ab Sadiq
Abubakar O Lami
Abubakar Rabi Ahmed
Abubakar Sadiq Haruna
Abubakar Sadiq Jamila
Abubakar Salamatu
Abubakar Sambo
Abubakar Sani
Abubakar Suleiman
Abubakar Tanimu
Abubakar Umar Suleiman
Abubakar Usman Al-amin Imam
Abubakar Yakubu Aliyu
Abubakar Zahrau Abdullahi
ANNUAL REPORT
2014
Abubakar-sanusi Saadhtu
Abudlraamam Momodu Lawal
Abudu Fisat Oluwakemi
Abudu Isiaka Oshiokhale
Abulu Festus Ighodalo
Abulu Mary Izegbua
Abulu Osereimen Jude
Abus Henry Israel Judith I Bhas
Abusomwan Clinton
Abuwa Ochuko Efe
Achebe Wisdom Ogechukwu
Acheneje John Ocholi
Achi Ivechukwu Kelvin
Achi James Nyikwagh
Achigbue Mathew
Achikeh Chinedu Austine
Achilonu Alphonsus
Achimugu Akowe Andrew
Acholonu Obinna Ikechi
Achong Jeff Sunday
Achor Lauretta Nnenna
Achor Uzoma Cordelia
Achua Martin Dibang
Achuagu Amobichukwu John
Achugbu Ebele Anioma
Achusim Ujunwa Mercy
Adache Austine S M
Adagbon Johnson Ofunim
Adagha Annabelle Odjuvwueder Hie
Adagha Vivian Akpeoweoghene
Adaghegbe Augusta I
Adah Dan
Adah Rosa M Cath.min. Rev Bro Andrew
Adah Ruth Otelahu
Adam Maryam Salisu
Adama Mohammed
Adamoh Al Amin Olalekan
Adamolekun Olurotimi Opeyemi
Adams Aisha Oluwatoyin
Adams Gladys
Adams Kolapo Olabisi
Adams Thomas Bode
Adams Tony
Adams Zakaria
Adamson Sidiqat Temitope
Adamu Ahmad
Adamu Bature
Adamu Bello Salamatu
Adamu Bisi Husseni
Adamu Bitrus Jugu
Adamu Bukata
Adamu Eleojo
Adamu Fatima Bello
Adamu Haruna Ishaq
Adamu Hauwa Yusuf
Adamu Jumba Anas Al-hassan
Adamu Jumba Faisal Al-hassan
Adamu Lauratu Usman
Adamu Maryam Lawan
Adamu Muhammad Muhammad
Adamu Muhammed Auwalu
Adamu Musa Shaawa
Adamu Nasiru Mohammed
Adamu Saidu
Adamu Salihu
Adamu Suleiman Minjibir
Adamu Umar
Adamu Usman Gosho
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
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
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
228426
3780
116457
3819
3820
3830
3841
3842
3843
116743
3857
3876
229196
225514
3915
3926
3933
3965
3976
3987
212973
216539
4028
4312
4050
218721
4113
4114
117884
223623
4177
4201
215317
4256
219196
4259
4263
124832
4352
4361
4367
114535
4373
4383
207062
4435
4472
123951
4489
4509
209099
4523
4525
4607
222966
214664
4638
4639
4668
4671
4686
4694
4702
4722
4750
4755
4758
4771
23354
51157
51164
31773
31774
31775
31776
31777
51172
105206
51177
101869
23805
44363
51190
51196
51198
51216
51227
95050
51267
91150
51257
51373
95056
51379
93760
31783
95080
51389
95066
49160
91161
51354
51400
51355
51358
51421
51425
95083
91166
51429
39362
51437
31796
90135
31798
51491
51481
90136
51495
25583
51488
51526
51541
51545
91177
51537
51555
51557
51566
51570
51574
95113
51598
49167
31811
24946
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
529
530
531
532
533
534
535
536
537
538
539
540
541
542
543
544
4814
4855
4869
4876
4881
222243
4960
4970
206039
5027
5041
117981
5068
228705
5097
121325
121950
227367
5152
5164
5168
5172
116952
207090
5191
218357
5210
216452
5233
122007
5243
5273
5290
5296
5307
5318
5320
5382
218998
5427
5429
5439
215716
213749
5458
5462
5483
5522
219157
5506
5518
5551
5559
5566
5574
5575
110762
5588
5603
212363
110476
5627
206820
5630
5632
5638
5648
215217
51631
51645
51649
51653
1718
51686
51697
51703
31816
39369
51734
93793
95155
105212
51752
51767
29627
51762
51791
95168
93795
51797
51800
51802
51807
51811
51814
93798
93799
31819
99673
51844
51849
51850
51851
51852
51854
93803
95188
51883
51884
51886
51892
31826
51895
51899
51906
89099
93810
31829
51920
51937
99674
51941
51945
95209
95221
51952
51956
95223
51973
39375
51974
31833
51967
93812
31834
51977
Adamu Zainab
Adamu Zakari
Adamu-biu Hasiya
Adamu-ibrahim Mariam Nkechi
Adamu-ibrahim Ngozi Nafisat
Adanikin Amoke Olufunmilayo
Adapule Janet
Adara Olurotimi Sunday
Adara Udeh Benedicta Ifeyinwa
Adaramaja Mobolaji Abiodun
Adaramola Titilayo Oluwafunke M Agda
Adaro Christopher Oghenerue Mu
Adayi Daniel Rev. Fr.
Ade & Wasiu
Adeagbo Adebukola Taoheed
Adeagbo Iswatu Adetutu
Adeagbo Rasidatu Eniola
Adebambo Francis Taiwo
Adebanji Johnson Abolaji
Adebanjo Ademola Sesan
Adebanjo Oluseyi Adeleke
Adebanjo Oluwatosin Rebecca
Adebanjo Tojomimo Samson A
Adebayo Lasisi Alaka
Adebayo Abiola
Adebayo Adeyinka Peter
Adebayo Cecilia Bosede
Adebayo Charles Abiodun
Adebayo Clara
Adebayo Josephine Eyitayo Adunni
Adebayo Kamorudeen Olalekan
Adebayo Mohammed Toyin
Adebayo Olawale Lukmon
Adebayo Oriyomi Shakiru
Adebayo Peter Oludare
Adebayo Philip-adesola
Adebayo Ramota Romoke
Adebesin Babafunmilayo Adewemimo
Adebileje Festus Akin
Adebimpe Agboola Muili
Adebimpe Sadiat Abolanle
Adebinpe Enitan Oluwatosin
Adebisi Abdulwasiu Adewale
Adebisi Adeola Samuel
Adebisi Najeem Adeyinka
Adebiyi Adebukola Modupe
Adebiyi Grace Chidi
Adebiyi Maryam Mopelola
Adebiyi Michael Adebayo
Adebiyi Oluwafemi Enitan
Adebiyi Patience Adeola Olukemi (chief)
Adebiyi Samson Adekunle
Adebiyi Tiwalade Adeyinka
Adebowale Bolaji Ayuba
Adebowale Meek Mukaila
Adebowale Odunayo Folashade
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Adebowale Tosin
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Adeboye Taiwo
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Adedayo Adegbenga Ominiabohs
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About Us
Adedeji Adewale Adebusuyi
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Adedoyin Cecilia Folashade
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Adegboyega Popoola Emmanuel
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Adegite Adedayo David
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Adegoke Omowumi Olaoluwa
Adegoke Samuel Ademola
Adegoke Uduak Margaret
Adegoke Yinusa Adeyemi
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
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
609
610
611
612
5654
5666
231663
5727
5742
215685
118533
5764
5791
213564
5807
212281
5852
5853
5858
5862
217250
5866
5868
5879
5881
218400
5886
224683
5900
5907
5929
215554
5936
5948
215085
5972
5976
207692
6024
6000
212330
6023
121651
211959
6078
124015
211371
230123
6123
116584
120274
6152
6155
6160
6163
6164
6200
6214
6231
6251
6256
6286
119393
226850
122832
6341
6361
6395
6412
6414
6426
6448
51979
51983
90160
52004
52007
91215
31839
49185
90165
95239
52028
90168
31840
31841
52047
52048
52051
31842
7
95246
52053
90170
52057
31846
52062
52065
52074
91224
52078
52084
52093
93825
52103
52118
101898
95261
90175
52117
52155
105109
13536
52159
52160
31852
13538
31855
25587
52173
95271
52175
52176
93828
52187
13541
93831
31856
91242
52227
52244
52241
52251
52253
13393
93837
31862
31863
52288
31864
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
6449
6466
208369
6494
6497
6508
6509
6528
6545
111339
6575
6591
216680
215768
6605
6606
111220
6612
6620
123393
6638
6650
6666
6676
6677
6684
229694
6704
6708
6743
6762
6765
6778
6802
6826
6838
6883
229693
6931
6950
220560
6957
6958
6964
231382
6972
6976
6983
221546
6986
6996
205492
7024
219947
7048
7068
7077
230677
7086
120595
7097
7100
7102
7103
7104
7117
7146
7153
31865
52294
52315
95308
90182
95319
95320
52328
52338
31869
52352
31868
52376
52378
52379
52380
52383
99685
95330
52396
52398
52405
52411
105217
52418
52424
52427
52431
52432
52452
31874
31875
95344
52476
52487
49196
13556
52512
39399
95359
99691
52552
52553
90192
52554
52557
95372
52561
52582
31878
52562
93853
52578
31879
52597
52604
52610
52611
52615
52658
104563
31882
52620
43380
52621
52627
49200
52640
Adegor Godwin
Adegun Funmilola Ayodele
Adegun Kehinde Elijah
Adejimi Adu Funmilola Ololade
Adejobi Adejumoke
Adejobi Oyebade Micheal
Adejoh Enemona Runcie
Adejoh Mike And Bunmi
Adejoro Beatrice Omono
Adejumo Adebisi Adeniyi
Adejumo Adekemi Taiwo
Adejumo Gbenga Tajudeen
Adejumo Susan
Adejumo Taiwo Adebayo
Adejumobi Adebeju Idayat
Adejumobi Adeyinka Alabi
Adejumobi Fatai Gbolahan
Adejumobi Medinah Adebimpe
Adejumobi Oluwatoyin Abiola
Adejuwon Nat Aderemi
Adejuwon Olufunke Welade
Adejuyigbe Kayode Toyin
Adejuyigbe Olawale John
Adekan Ganiyu
Adekanbi Bolade Samuel
Adekankun Babatunde
Adekanmbi Toyibat Olusolape
Adekanmi Michael Adekunle
Adekanmi Williams Olaniyi Williams Olaniyi
Adekanye Olajide Felix
Adekanye Patience Odiri Oluwafunmilayo
Adekeye Oluwaseun Lydia Moronfade
Adeko Adeshola Aderonke
Adekola Adebisi Olusegun
Adekola Alexander Ojeake
Adekola Idowu Adeyinka
Adekola Rafiu Olabisi
Adekola Yetunde
Adekoya Kehinde Adekunle
Adekoya Gbenga Paul
Adekoya Mudashiru
Adekoya Oluwaseun Abiola
Adekoya Stella Olabisi
Adekpe Salome N
Adeku Akeem Alabi
Adekunle Ademola Abdul-rahman
Adekunle Aderemi Abayomi
Adekunle Aina Mulikat
Adekunle Aminat
Adekunle Ayisat Olaitan
Adekunle Babatunde Joseph
Adekunle Bamidele
Adekunle Nurudeen Oluwasesan
Adekunle Olusegun
Adekunle Samuel Kayode
Adelabu Abiodun Durojaye
Adelabu Ayinla Mamndu
Adelaja Ezekiel Dele
Adelakun Adeboye David
Adelakun Rilwan Abiodun
Adelani Adekunle Afegbai
Adelanwa Olamide
Adelekan Ademola
Adeleke Adedayo Adebobola
Adeleke Adetunji Owoade
Adeleke Adeyemi Adefemi
Adeleke Atolani
Adeleke Iyabo Elizabeth
ANNUAL REPORT
2014
Adeleke Iyabo Monsurat
Adeleke Moradeke Adesola
Adeleke Muritala A
Adeleke Sunday Ademola
Adeleke Taofeeq Adewale
Adeleru Grace Folashade
Adeleru Ruth Adetola
Adeleye Adepeju Olubunmi
Adeleye Elizabeth Adeyoola
Adeleye Iyaniwura Omooja
Adeleye Olaleye Oluwayemisi
Adeleye Tolulope R
Adelodun Adebola Muibat
Adeloju Kudirat Bolanle
Adelola Adebola
Adelola Adeola
Adelola Henry Adekunle
Adelola Yemi
Adelowo Oluwatimilehin Adedap O
Adeloye Juliana Lola
Adelugba Aderemi
Adelusi Abiola Abike
Ademakinwa Samuel Adewole
Ademiluyi Adebambo
Ademiluyi Adedokun Ayoade
Ademo Oluwakemi & Adetunji
Ademola Adebambo
Ademola David Oluwatobi Adeol Uwa
Ademola Funmilayo
Ademosu Ope Oluwa Olufunmila Yo
Ademoyega Adeyemi Obafolarin
Ademu Mohammed Lawal
Ademuyiwa Adenike Ebunoluwa
Adenaike Shakiru
Adenekan Collins Oladipupo
Adenekan Sefi
Adeniji Ademola Adeleke
Adeniji Adesina Olutosin
Adeniji Oluwaseun Taiwo
Adeniji Titilola Olasumbo
Adeniji Yetunde
Adenike Gbindin-idowu Olajumoke
Adeniken Olusola
Adenikinju Tomide Christopher
Adenipekun Taiwo Ademola
Adeniran Adebimpe Ajoke
Adeniran Adekunle Isiaka
Adeniran Adetutu
Adeniran Adeyemi Michael
Adeniran Adeyinka Oritoke
Adeniran Emmanuel
Adeniran Esther Oyinlola
Adeniran Sunday Adelowo
Adeniregun Marian Oluremi
Adeniyi Adebayo
Adeniyi Anthony Babatunde
Adeniyi Bankole Ebenezer
Adeniyi Bashiru Olayemi
Adeniyi Elizabeth Olatoke
Adeniyi Elizabeth Olufunke
Adeniyi Funmilayo .a.
Adeniyi Ibidunni Stella
Adeniyi Inioluwa Praise
Adeniyi Isaac
Adeniyi Iyanuoluwa Glory
Adeniyi Michael Sunday
Adeniyi Olutoyin Bosede
Adeniyi Oreoluwa Adetoni
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
681
682
683
684
685
686
687
688
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
7165
7167
7173
216243
7188
7196
7199
7202
7213
7230
7236
7242
7286
7296
7301
223378
7335
218910
7353
7382
7362
7393
7403
7417
7424
7492
7503
7523
7530
7531
117827
7554
7569
7607
7619
7625
7629
210223
7644
120161
7653
7697
111274
7705
7731
7740
7744
7749
7759
7762
7764
7786
7811
7813
7815
7819
7822
213612
7831
7835
7851
7860
7870
7878
114854
7879
7896
7898
31884
52645
52648
91305
52671
52675
91307
52678
52687
52694
13558
95398
52725
52730
52733
52753
95407
52779
52764
31893
31892
95411
52791
52800
52803
95424
52841
52849
95427
52854
52884
93867
52867
52891
44368
52900
52901
52934
52909
99695
52913
93873
52950
52949
52963
52967
93876
52970
52973
52976
52979
52994
53001
9
31908
95464
53003
53005
53008
6531
53019
53022
53028
105223
53039
53035
91336
91337
749
750
751
752
753
754
755
756
757
758
759
760
761
762
763
764
765
766
767
768
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
7899
7904
7911
114688
7921
7923
7928
205817
213371
7942
7943
7972
122276
8009
8014
8015
8039
8041
8047
8067
217641
8082
8083
232347
8103
8104
8108
8111
222367
8136
8137
215690
124414
111971
8174
8178
117005
8195
8198
8219
8226
8238
227946
115518
8268
8276
8279
8264
121304
8301
8320
212434
8334
8336
8348
8352
8377
8379
8386
8397
8402
8420
8428
8439
8446
8447
208770
8452
53047
53051
53056
53097
53059
53061
53064
53100
53101
53071
53072
53087
53111
31916
53118
53119
53129
31917
53133
53137
53178
91350
53142
53143
93886
49223
53153
53155
95491
53161
53162
101919
53187
53188
53190
53193
49228
53204
53205
53214
53218
49233
53230
53240
53235
53238
53239
95507
53248
31924
53261
53266
91375
53271
90211
91376
53288
53290
53294
53297
53299
53304
53308
53314
53317
90213
53320
99701
Adeniyi Tajudeen Gbadebo
Adeniyi Temiloluwa Grace
Adeniyi Wosilat Folashade
Adenle John Oyewole
Adenmosun Aoegbemi Adedola
Adenola-modede Oluwadare Temitope
Adenowo Abekunle Azeez
Adenowo Nojeem Bola
Adenuga Abeni
Adenuga Atinuke
Adenuga Felicia Remi
Adenuga Hamzat Adebanjo
Adenugba Duro Tunji
Adenusi Mojisola Olaitan
Adeoba Olasumbo Christiana
Adeogun Busayo Seun
Adeoke Babatunde Olusola Ade Leke
Adeola Adebimpe
Adeola Christianah Ojuolape
Adeola Joseph
Adeola Joshua Olunatoyim
Adeomi Adeleye Abiodun
Adeosin Abiola Olubunmi
Adeosun Adeboye
Adeosun Dolapo
Adeoye Abiodun Mathew
Adeoye Adedapo
Adeoye Adetutu Frances
Adeoye Babatunde
Adeoye Babatunde Kamaru-deen
Adeoye Moses
Adeoye Moses Adeyemi
Adeoye Oluwagbenga John
Adepegba Bunmi M
Adepitan Abiodun Samuel
Adepoju Adebimpe
Adepoju Adedoyin Temitope
Adepoju Adedoyin Temitope
Adepoju Boluwatife
Adepoju Dorcas Olawafunmilayo
Adepoju Ibitomi
Aderanti Aderemi Taiwo
Aderemi Olayinka Rebecca
Aderemi Rukayat Adenike
Aderibigbe Adewale Muhideen
Aderibigbe Hajarat
Aderibigbe Julius Adetunji
Aderibigbe Moruff Olasile Adisa
Aderibigbe Rukayat
Aderibigbe Umar
Aderibigbe Yakubu Ayodele
Aderinto Adeola
Aderiye Adedayo Sunday
Aderoba Adedoyin
Aderogba Flora Adebimpe
Aderoju Abiodun Adetunji
Aderoju Folasade Grace
Aderoju Suraju Akanni
Aderombi Adeyinka Kehinde
Aderonmu Adetunji Victor
Adesakin Bamidele
Adesalu Musiliu Oluwasegun
Adesanmi Banke Eniola
Adesanu Hakeem Opeola
Adesanwo Ademolu Olufunso
Adesanwo Aderonke Elizabeth
Adesanya Adebola Ayomide
Adesanya Adedayo Ayomikun
About Us
Adesanya Adefolake Josephine
Adesanya Adesina Akanni
Adesanya Afolabi Sunday Kofowo Rola
Adesanya Babatunde Oluwagbemiga
Adesanya David Abiodun
Adesanya Emmanuel Mobolaji
Adesanya Ganiyu Kareem
Adesanya Kehinde Husein
Adesanya Michael Adegbenga
Adesanya Mofoluwake Esther
Adesanya Mofoluwaso Deborah
Adesanya Oluwatoyin Esther
Adesemoye Adedeji Jones
Adeshida Emmanuel Abayomi
Adeshina Adegbenga
Adeshina Adeleke Opeyemi
Adeshipo Olukemi Adetokunbo
Adeshiyan Babajide Adetayo
Adeshoga Morenike Olusola
Adesina Abosede Felicia
Adesina Adegbaye Ali
Adesina Adewumi Saliu
Adesina Adeyinka Omolara
Adesina Adiat Olabimpe
Adesina Gabriel Olulakin
Adesina Gani
Adesina Jacob Sunday
Adesina Johnson Adegoke
Adesina Mary Iyabo
Adesina Olukemi Tolani
Adesina Olumuyiwa Afolabi
Adesina Oluwakemi
Adesina Omolola Adebimpe
Adesina Wakeel Amobi
Adesioye John
Adesipe Omowumi
Adesiyan Abdulrasaq Adedayo
Adesoji Adewale Gbenga
Adesoji Oladele Anthony
Adesokan Risikat Folashade
Adesola Ademola Afolabi
Adesola Gbenga Muideen
Adesope Gabriel Abiodun
Adesoye Adebayo Samuel
Adesoye Aderinsola Muibat
Adesoye Raymond Shofolahan
Adesoye Toyin
Adesuyan Reuben Bamidele
Adesuyi Comfort Adebimpe
Adetayo Adebisi Adebimpe
Adetiba Ademuyiwa Olufemi
Adetifa Bolanle Ebunoluwa
Adetimehin Adesina Y
Adetimehin Julius Oluwole
Adetokunbo Olukemi Titilayo
Adetola Azeez Afolabi
Adetomiwa Adewole Sunday
Adetomiwa Adeyinka Yusuf
Adetona Kehinde Adewale
Adetoro Olatoyosi Adeolu
Adetosoye Aderinsola
Adetoye Mofoluwakemi Ania
Adetoyinbo Christianah Olufunke
Adetula Fola Beatrice
Adetula Olaide Fausat
Adetula Olubukola Linda
Adetula Temilade
Adetula Victor Adebola Olubun Mi
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
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
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
8454
8464
231874
212454
8490
8508
229305
8519
8525
8546
224616
8562
8566
8571
8604
120876
8617
8622
8623
8625
8651
220816
8661
209110
209710
8676
230906
8706
8710
225538
8734
8738
8740
8748
8755
223153
8760
8761
8784
8808
8812
212244
8826
8827
8833
231733
110496
8856
208384
8859
119831
8881
8885
8903
112646
8917
8925
209560
113191
8953
8961
8977
8981
8998
123200
9044
3910
207333
39422
91380
53329
95533
53334
53342
53346
53347
53352
31934
91383
53370
53373
39424
53393
53412
53399
53401
53402
53404
49250
49251
95550
53430
53431
93912
53433
53440
53441
53443
31940
53448
31942
91397
53458
39425
31943
53461
53471
53486
53487
53504
53494
53495
53500
53502
49259
53511
53524
53513
53526
53527
53529
53537
95575
53547
53553
53563
31960
53570
91410
53575
53577
53587
53686
95588
53604
101927
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
929
930
931
932
933
934
935
936
937
938
939
940
941
942
943
944
945
946
947
948
949
950
951
952
9061
9067
9068
9073
9080
9085
9101
9120
123663
122937
9135
9138
210826
9150
9156
210244
9172
9184
9190
9198
9213
9231
9233
115978
115368
206641
9246
9305
114691
9308
9323
218372
123591
212833
9337
9338
9343
213797
9359
124765
9372
9373
9376
9379
9386
209160
9390
9394
9418
9429
9434
9440
209221
227265
9475
9482
230397
209496
9494
9499
9510
9513
219274
212652
226855
217666
9588
9595
25597
53610
53611
95591
53614
27993
53624
53631
53694
53697
31955
53638
39433
53645
53650
91430
24950
95600
53665
53668
53673
95609
53709
91436
31965
99706
91434
95621
53760
95622
53737
53762
53764
53765
53744
53745
53747
31971
53769
53771
53772
53773
53775
101933
53780
53786
53781
93945
53795
53797
91443
53803
53815
53806
99707
44376
48415
20623
27995
53828
53833
31975
101943
95644
53849
53871
53854
53856
Adetunji Abdulraheem
Adetunji Adetokunbo
Adetunji Kemi Racheal
Adetunji Olufunke
Adetunji Yinusa Aderemi
Adetutu Olumide Ademola
Adeusi Damilola Adebambo
Adeusi Olusegun Adegboyega
Adewale Adebola Regina
Adewale Inioluwa Ruth
Adewale Johnson Adebayo
Adewale Oladunjoye Anthony
Adewale Olukayode Akinropo
Adewale Rachael Abosede
Adewole Elizabeth Abimbola
Adewole Esther Ajiri(mrs)
Adewole Olanike Olayeni
Adewole Oluwafolajimi Oluwashubomi
Adewole Oluwatomisin Adeola Solomon
Adewole Opeyemi Olu
Adewoye Gideon Adeniyi
Adewoye Idowu Itunu
Adewoye Omoniyi
Adewoyin Adewumi Foluso
Adewoyin Kate
Adewoyin Omolola Olusayo
Adewumi A.odunayo
Adewumi Eyitayo Folasade
Adewumi Grace Femi
Adewumi Kola James
Adewumi Solomon Ajiboye
Adewumi Veronica Olufunke
Adewuni Ademola Bashir
Adewunmi Adedayo
Adewunmi Annabella Adewuyiwa
Adewunmi Bola
Adewunmi Dele Stephen
Adewunmi Fausat Adesola
Adewunmi Oluwaseun Funmilayo
Adewusi Atinuke Nimota
Adewusi Esther Olufunke
Adewusi Johnsonm
Adewusi Olufemi Michael
Adewusi Olukayode Ayotunde
Adewusi Tolulope Alexandra
Adewusi Yetunde
Adewuyi Bamidele Aderinola
Adewuyi Kehinde Moyosore
Adewuyi Matthew & Olubunmi Mr&mrs
Adewuyi Monsurat Oluwayemisi
Adewuyi Oluwatosin
Adeyanju Adedeji Robert
Adeyanju Adeola Omowumi
Adeyanju Nimota Abeni Bolarinw A
Adeyanju Olatokunbo Babkemisola
Adeyefa Caleb Oluremi
Adeyegbe Aduke Olawunmi
Adeyeloja Adebayo
Adeyemi Abigail Modupe
Adeyemi Abiodun Ajoke
Adeyemi Adebimpe Olubunmi
Adeyemi Ademuyiwa
Adeyemi Aderonke Enitan
Adeyemi Ajoke Omowunmi
Adeyemi Elizabeth
Adeyemi Elizabeth Olatoun
Adeyemi Emmanuella
Adeyemi Folashayo Blessing
ANNUAL REPORT
2014
Adeyemi Funsho Zacchaeus
Adeyemi Gideon Adewale
Adeyemi Hassan
Adeyemi Isaac Adebayo
Adeyemi Johnson Olufemi
Adeyemi Julius Kolawole
Adeyemi Mathew Funsho
Adeyemi Oladele Temitope
Adeyemi Olalekan Kazeem
Adeyemi Olufemi
Adeyemi Olugbenga Gabriel
Adeyemi Olurotimi Ayodeji
Adeyemi Oluwasayo
Adeyemi Omolara Florence
Adeyemi Oreoluwa Adetunji
Adeyemi Rasheed Abimbola
Adeyemi Sakiru
Adeyemi Stella Omolola
Adeyemi Sunkanmi Olatunde
Adeyemi Temitope Elizabeth
Adeyemi Yekini Babatunde
Adeyemo Abraham Ademuyiwa
Adeyemo Adebayo Olasunkanmi
Adeyemo Adefemi Jomoh
Adeyemo Adekunle Samson
Adeyemo Adeniji Abimbola
Adeyemo Adenike Adebola
Adeyemo Olanrewaju Stephen
Adeyemo Olubukola Jadesola
Adeyemo Oludayo Michael
Adeyemo Olutola
Adeyemo Olutola Yetunde
Adeyemo Oluyombo
Adeyemo Omotola Olawunmi
Adeyemo Samson Bolarinwa
Adeyemo Sekeenat Olawunmi
Adeyemo Taiwo Adeyinka
Adeyeri Adedayo O.
Adeyeri Adewale Munir
Adeyeri Steve Kunle
Adeyeye Adediwura Iyadunni
Adeyeye Adekeye Ojo
Adeyeye Adeolu
Adeyeye Akeem Adesola
Adeyeye Iyadunni Mary
Adeyeye Joel Adebayo
Adeyeye Noah Ayodele
Adeyeye Opeyemi A
Adeyiga Adesola Adekunle
Adeyinka Aderinsola Helen
Adeyinka Ayodele
Adeyinka Kareem Yusuf
Adeyinka Olasumbo Omoteso
Adeyinka Olusola Olutoyin
Adgidzi Godwin Adgidzi
Adhama Aminu Hafizu
Adi Ahmed K.
Adi Anthony Ejike
Adiabuia Solomon
Adibe Andrew Chukwuma
Adibe Virtus Tochukwu
Adibite Arit
Adiele Priscilla Onyegecha
Adifagbade Sikiru Alade
Adigun Ahmed Oluwole
Adigun Jeremiah Temitayo
Adigun Motungboreoluwa Debor Ah
Adigun Olawale
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
953
954
955
956
957
958
959
960
961
962
963
964
965
966
967
968
969
970
971
972
973
974
975
976
977
978
979
980
981
982
983
984
985
986
987
988
989
990
991
992
993
994
995
996
997
998
999
1000
1001
1002
1003
1004
1005
1006
1007
1008
1009
1010
1011
1012
1013
1014
1015
1016
1017
1018
1019
1020
9603
9604
9605
9609
9615
9634
110926
9670
111004
9705
9732
9742
9753
9758
113017
9776
9781
123772
9796
9795
9835
206432
9829
211227
207129
9881
231385
123207
221501
9917
9946
9954
208268
9966
9984
9986
9992
10002
10006
231844
230830
10015
10020
10023
10030
213777
10060
10069
10077
10081
10086
10092
207304
10118
10152
10168
10175
10183
10202
10215
10244
10266
10282
10288
119313
10302
10317
10319
53858
53859
53861
53863
53867
53888
53891
31984
105228
99710
53914
53915
53920
53923
53929
20634
53933
105229
4652
53936
44395
44401
53940
53943
53954
25609
53956
101950
53973
53968
53976
53978
53980
53982
53987
53991
89110
28001
53994
53995
53999
25610
95682
44406
28002
28003
54017
44407
90245
30006
20639
99715
24953
54034
54049
54054
54055
95686
95687
31997
49292
54083
54088
54091
54139
54099
95702
54104
1021
1022
1023
1024
1025
1026
1027
1028
1029
1030
1031
1032
1033
1034
1035
1036
1037
1038
1039
1040
1041
1042
1043
1044
1045
1046
1047
1048
1049
1050
1051
1052
1053
1054
1055
1056
1057
1058
1059
1060
1061
1062
1063
1064
1065
1066
1067
1068
1069
1070
1071
1072
1073
1074
1075
1076
1077
1078
1079
1080
1081
1082
1083
1084
1085
1086
1087
1088
10324
10345
10353
10383
10411
10392
10499
10503
10505
10511
225774
216437
10522
227268
10532
10534
10535
10536
10537
219750
218938
86875
10551
226338
113188
218303
120724
10582
10583
10589
10607
10628
211087
10639
10671
218854
10651
10653
211621
210495
10679
10680
10693
10716
124968
10762
10765
214632
10774
230503
10791
222310
10794
10795
10801
10807
10808
123185
10822
10825
10840
10871
10906
232415
10916
10920
215330
120860
32001
54115
54121
54150
54171
54156
20642
30010
32014
25620
18120
32016
95716
54220
99722
54222
54223
54224
54225
24233
54227
54228
54230
37598
54235
54238
54240
54242
24956
20647
54249
54264
20649
32022
54278
54279
54270
54272
54282
54283
25628
25629
20651
54292
54310
32033
91478
54316
20659
54318
54320
20662
54321
20661
54324
54326
54327
54329
54334
54337
54344
44410
54359
28015
54363
54364
18127
54371
Adigun Oluwafemi Matthew
Adigun Oluwafikunoremi Esthe R
Adigun Oluwatamilore Joseph
Adigun Ruth Ebun
Adigun Wahab Ajani
Adikai-michael William
Adikamkwu Samuel Eziafa
Adimah Comfort Ogoh
Adinoyi Abdulkareem Bala
Adio Oluseyi Cecilia
Adisa Adekemi Faosat
Adisa Ismail Olanrewaju
Adisa Olalekan Saheed
Adisa Oluwatobi
Adisa Tinuola Yetunde
Adisi Victor Chikelue
Adja Odumo Solomon
Adjeh Anthony Edafe
Adji Mohammadu Laila
Adji Sureya
Ado Bayero Fatima
Ado Sule Sabiu
Ado Usman Danladi
Adoga Vera Ayibean
Adollo Christopher Obayemi
Adolor Theodora Nonye
Adon Aderes Ltd
Adooh Neenebari Matthew
Adu Olayinka
Adu Olayinka Barakat
Adubi Olabisi Atinuke
Adubor Cynthia
Adugbe Gabriel Afolabi
Aduku Hassan
Aduloju Oluwaseyi Ilesanmi
Aduma Francis
Adungbe Samuel Baye
Aduodeh Selina Erumerone
Aduroja Fehintola Patience
Adurosakin Saka Oluwaranti
Aduwo Oyinye Irene
Aduye Frederick Onyisi Sund Ay
Aeley Ventures Ltd
Afabor Aaron
Afam Onyedikachi Godslight
Afambu Victor Chukwuyem
Afekhuai Omua Jennifer
Afelumo Vincent Nike Janet
Afeni Temitope Ilesanmi
Afeola Olanrewaju & Funmilay O
Affam John
Affia Ime Udo
Affiah Eme Enobong
Afilaka Segun Gideon
Afolabi Adeola
Afolabi Akinwale Gbenga
Afolabi Ayodeji
Afolabi Babatunde
Afolabi Florence Tinuade
Afolabi Idowu
Omoniwa
Afolabi Mike
Afolabi Olakunle Rasheed
Afolabi Olufunbi Adebowale Ishola
Afolabi Oluwagbemileke
Afolabi Ozofu
Afolabi Peter Ayo
Afolabi Segun
Afolabi Sekinat Ololade
About Us
Afolabi Stella Foluke
Afolabi Victor Kehinde
Afolabi Yejide Olakorede
Afolayan Jejeloye Adetutu Flor Ence
Afolayan Jejeloye Rebecca Olushola
Afolayan Olawale Hammed
Agada Fredrick Gozie
Agada James Ojonide
Agada Julius Sunday
Agada Nichodemus Uchenna
Agada Okwuchukwu
Agada Rose
Agaga Oluwadamilare Amos
Agagu Abisoye
Agaldo Samuel Danlami
Agam Alexander E
Agam Etu A
Agam Ike
Agam Rosemary Akpe
Agama Esther Ede
Agameh Owepke Mary
Agamwonyi Omoevbaria Helen
Aganmwomyi Cordelia Chinyere
Agape Multi Purpose Co Op Society Ltd
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Agba Akomaye Simon
Agba John Nwankwo Eyisi
Agbabiaka Hamza
Agbadugo Jude Chijioke
Agbai Gabriel Chukwuma
Agbai Peter Okoji
Agbaje Oluwayemisi
Agbaje Festus Sunday
Agbaje Hakeem Olatunde
Agbaje John
Agbaje Oluseyi
Agbaje Saheed Opeyemi
Agbakpro Emamoke Gilbertho
Agbakpro Mary Elomense
Agbaleke Obiora Anderson
Agbamuche Diana Nwamaka
Agbarakwe Kingsley Chidiebere
Agbasi Uju Sandra
Agbasiere Izuchukwu
Agbasimalo Nnamdi Charles
Agbata Benneth Nwafor
Agbata Chukwuemeka Fred
Agbazue Cyprian Udechukwu
Agbe (dr) James Terna
Agbe Eric Ewokpokpo & Vict Oria
Agbe James Terna
Agbebaku Edore Oje
Agbedahunsi Gregory Babawale
Agbedahunsi Mojisola Elizabet
Agbe-davies Olusunmade
Agbede Yeside Ifeoluwa
Agbedeyi Oluwatosin Abisola
Agbelese Olubunmi Olufunlola
Agbetola Abayomi Abdulrahman
Agbi Adesua Edith
Agbi Michael
Agbi Simon Bamijoko
Agbiboa Umole Philip
Agbidi Sylvester
Agbo Agnes
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
1089
1090
1091
1092
1093
1094
1095
1096
1097
1098
1099
1100
1101
1102
1103
1104
1105
1106
1107
1108
1109
1110
1111
1112
1113
1114
1115
1116
1117
1118
1119
1120
1121
1122
1123
1124
1125
1126
1127
1128
1129
1130
1131
1132
1133
1134
1135
1136
1137
1138
1139
1140
1141
1142
1143
1144
1145
1146
1147
1148
1149
1150
1151
1152
1153
1154
1155
1156
10932
10952
10959
10982
11002
11005
226562
11024
209734
11029
11030
11033
11034
11035
11036
221684
11047
11048
218843
11049
11051
11081
11087
11094
214813
11107
11117
11123
11139
11141
11144
11153
11155
122376
222535
11219
11224
11225
11229
11233
11234
218542
222684
11271
11282
11292
11294
11295
11300
218880
11312
224350
11342
11357
11362
11381
11387
221437
11442
11443
11444
11445
222766
11482
11484
215073
214138
214109
30020
30022
30023
30026
28017
28018
54390
54395
54396
54399
54400
95727
54402
91483
54403
54408
28024
28025
28026
25635
32044
30030
30031
32049
54452
54428
54433
95731
54440
54442
54443
93977
93979
54464
28035
101972
23822
54470
54473
54477
95739
99732
54488
54492
95742
30032
30034
30035
54500
54502
28044
28046
25645
54513
24958
54520
54525
54532
28051
28052
28053
28054
54543
54550
54551
54558
54560
39494
1157
1158
1159
1160
1161
1162
1163
1164
1165
1166
1167
1168
1169
1170
1171
1172
1173
1174
1175
1176
1177
1178
1179
1180
1181
1182
1183
1184
1185
1186
1187
1188
1189
1190
1191
1192
1193
1194
1195
1196
1197
1198
1199
1200
1201
1202
1203
1204
1205
1206
1207
1208
1209
1210
1211
1212
1213
1214
1215
1216
1217
1218
1219
1220
1221
1222
1223
1224
11521
11529
112700
11531
11543
11549
225368
11568
11572
11576
11583
11587
213902
11612
11639
11640
11648
11653
11605
11668
11676
11678
11684
212690
11721
11727
11735
11756
11765
11774
11793
11799
11808
11827
11842
11844
11845
11847
11860
214779
11866
215348
11871
11872
11975
11976
11876
229372
11981
11882
11889
11898
11983
11901
11912
11932
218723
11941
11942
11991
11945
11946
221526
11955
11995
12003
12009
12011
99735
20674
32065
30038
54568
18135
30043
54579
20678
54581
25654
28055
38003
99738
54611
32067
54614
54616
54624
54619
54622
54623
93981
30050
54639
54641
54644
32080
30053
32083
54660
54662
89116
32086
25657
54685
54686
54689
54694
11
19467
54696
32088
32089
44453
44454
24235
54701
54704
32091
19468
25658
101992
37600
44435
20692
44460
32093
37601
6759
39517
19472
32099
44447
44462
54709
54711
6908
Agbo Chinenyenwa Chibunduo Ra J
Agbo Innocent Okwudili
Agbo Kenneth Chukwuemeka
Agbo Wilfred Chukwuemeka
Agboifo Bernadette Aiferaomo
Agboinghale Frederick
Agbola Olugbemi Abel Olasebikan
Agbolade Stephen Olaide
Agbolade Susan Emike
Agboluaje Sulaimon
Agboluaje Tawakalitu Olanike
Agbomeji Olusegun Aliu Oluwato Sin
Agbomoniyi Agbomoniyi Aderemi
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Agbon Odion Paulina
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Agbonifo Sunday Enofe
Agbonifo Sunday Enofe
Agbonika Philip
Agboola Adebukola
Agboola Adeniyi Olufemi
Agboola Akinwale
Agboola Bola Mufutau
Agboola Felix Olakunle
Agboola Margaret
Agboola Nurat Adetoun
Agboola Oluseye Hezekiah
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Agboola Oluwakemi
Agboola Rafiu Adejare
Agboola Raphael Adeniran
Agboola Timothy Kolawole
Agbro Ufuoma Martha
Agburuga Godpower Claude
Agede Kenneth Orseer
Agede Mark Danteni
Ageh Ebenezer
Ageh Uzuazoraro
Ageless Resources
Agene Patrick
Agezeh Samson Illikefe
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Aghaji Dumkenechukwu Leonar D Lo
Aghaji Okigbo Christopher Al Exan
Aghaji Ugochukwu Clarence Wi Llia
Aghamiogie Esther
Aghara Josephine Njideka
Aghayedo Faith
Aghedo Wilfred
Agholor Ifeanyi Williams
Agiamah Maria Oghenewogaga
Agida Patrick Etchue
Agim Harold Obiawuotu
Agina Obiageli Gloria
Agoi Michael Mobolaji (prince)
Agomuo Ubani Chetachi Daberechi
Agomuo Ubani Chinweoke Chichebem
Agomuo Ubani Chizurum Chidiuto
Agomuo Ubani Nmesomachi Chinezerem
Agonor Udukhomoh Lucky
Agoro Risikat Adunni Odunay O
Agoro Saheed
Agorye Christiana Ashiye
Agosu Sikiru
Agu Bro Uchenna
ANNUAL REPORT
2014
Agu Ephraim Ugochukwu
Agu Hilary Ejiofo
Agu Ignatius Anayo
Agu Iloabuchi Patrick
Agu Monica Ukamaka
Agu Ogwo Ukaogo
Agu Sunday Peter
Agubata Okechukwu Benson
Agubuike Chinedu Johnson
Aguda Oluwafunmilayo Adebun Mi
Aguebor Nosakhare
Aguele Roseline
Agukwu Maria Ojoma
Agulebe Chiahemba
Agunbiade Adeniyi Victor
Agunbiade Ajebola Joy
Agunbiade Fatiu Babatuhde
Agunbiade Kayode
Agunbiade Muhammed Jamiu
Agunbiade Rafai Yetunde
Agunbiade Wande
Agunbiade Zulifat Amoke
Agunloso Olufemi
Aguode Gabriel Sunday
Agupusi Anthonia Chinasa
Agusto Mudafiat
Aguzue Chidiebgre Hope
Agwom Ruth Adala
Agwu Chukhu Ekwe
Agwu Michael Mbadiwe
Agwulonu Emmanuela Agbomma
Agwuna Onochie Chukwunonelu. C
Agyo Kilishi Fatima
Ahamioje Nelson Omoike
Ahaotu John Okechukwu
Aharanwa Divine Chibueze
Aharanwa Felicia Chinyere
Ahatty Phillip
Ahimie Ojekhoa Ohifeme
Ahimie Omoruan Oiseoruemi Obaika
Ahindi Dyangale Donacdson
Ahiru-balogun Adeola Abiodun
Ahjuwa Nigeria Enterprise
Ahmabu Jonathan John
Ahmad Abba Sharif
Ahmad Abdulhalim Muhd
Ahmad Abdulsalam
Ahmad Abubakar Tunau
Ahmad Adamu
Ahmad Ali Sani
Ahmad Baba Ibrahim
Ahmad Fadimatu
Ahmad Fatika Fatima
Ahmad Fatsuma Lelu
Ahmad Jamila Usman
Ahmad Munir Gwarzo
Ahmad Nura Saadu
Ahmad Rahma Qatti
Ahmad Ramatu Ladi
Ahmad Rufai Balkisu
Ahmad Saidu
Ahmad Salihu Meje
Ahmad Sokoto Hadiza
Ahmad Tanko Shaaibu
Ahmad Yunusa
Ahmadu Abiola Kazeem
Ahmadu Ahmadu Fidi
Ahmadu Asamau
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
1225
1226
1227
1228
1229
1230
1231
1232
1233
1234
1235
1236
1237
1238
1239
1240
1241
1242
1243
1244
1245
1246
1247
1248
1249
1250
1251
1252
1253
1254
1255
1256
1257
1258
1259
1260
1261
1262
1263
1264
1265
1266
1267
1268
1269
1270
1271
1272
1273
1274
1275
1276
1277
1278
1279
1280
1281
1282
1283
1284
1285
1286
1287
1288
1289
1290
1291
1292
215340
12020
12058
122652
12038
12050
12360
12362
12085
12366
12112
12117
12121
12132
124389
12137
12140
12162
12164
12189
221980
12207
227616
210773
12245
12256
214512
12267
12284
211854
12386
12308
216549
12314
221480
12321
12325
217573
208996
12354
12399
12412
212920
117210
12466
12467
12482
12495
12502
12506
12512
216431
12532
12536
205603
12547
12557
118427
12569
12571
12583
12590
118990
12616
12630
12667
12689
232285
54717
32103
39532
99744
39527
54715
43402
39564
54722
39566
44480
32112
39540
104862
44517
39544
32114
54734
54735
54737
32120
19484
48432
19498
54739
44500
28059
49320
32130
105005
19499
39557
23829
32131
44527
23375
44507
89831
44529
20696
32148
23831
89128
13618
54764
5908
54767
28073
89129
101996
32151
54785
9766
25671
28079
19501
54799
54802
101998
28081
32158
32160
54822
54827
54834
54845
54854
54858
1293
1294
1295
1296
1297
1298
1299
1300
1301
1302
1303
1304
1305
1306
1307
1308
1309
1310
1311
1312
1313
1314
1315
1316
1317
1318
1319
1320
1321
1322
1323
1324
1325
1326
1327
1328
1329
1330
1331
1332
1333
1334
1335
1336
1337
1338
1339
1340
1341
1342
1343
1344
1345
1346
1347
1348
1349
1350
1351
1352
1353
1354
1355
1356
1357
1358
1359
1360
12693
12699
12705
12715
215956
12728
12747
224687
12768
12771
222375
223377
12839
12840
12845
12858
12862
12863
115885
112454
12889
218112
209051
12921
117887
12926
12936
12946
12947
12967
115221
209635
12999
13004
215647
13008
13020
13033
229686
13054
13063
13088
211549
13103
216049
205540
217113
13154
13161
120147
13167
13177
13181
13193
13202
13221
13712
216565
214884
218158
13390
114338
13401
13431
214865
13482
13487
208060
91506
54861
54864
7006
43408
102001
19502
54899
28089
54900
25676
32177
32180
54932
54935
54942
54946
3244
54951
54954
54964
54969
18151
25678
38010
54977
54983
91515
32184
25681
55003
55009
44539
32188
32189
55013
95783
55019
55023
55024
89132
18155
39589
43412
91523
95804
55071
25686
55064
95805
13622
55079
32196
55081
32197
55088
95845
94003
55283
28095
6029
94005
95829
55160
102017
55177
44544
55295
Ahmadu Daniel Mathew
Ahmadu Hajara
Ahmadu Kakaki Babangida
Ahmadu Matthew Adakara
Ahmadu Momoh Bello
Ahmadu Ussafi Khadi
Ahmed Bin Ibrahim
Ahmed Abdullahi Zubairu
Ahmed Abubakar
Ahmed Accama Idris
Ahmed Aisha Abba
Ahmed Alheri Maryam
Ahmed Aliyu Sabiu
Ahmed Babawuro Mohammed
Ahmed Bayero Radhiya
Ahmed Bello Hammawa
Ahmed Bilkisu
Ahmed Folashade Abimbola Si Miat
Ahmed Garba
Ahmed Hussein
Ahmed Ibrahim
Ahmed Ismail Ibrahim
Ahmed Masaudu
Ahmed Mohammed Raji
Ahmed Mohammed Sani
Ahmed Muhyiddeen Ringim
Ahmed Odion Aliat Soughie
Ahmed Olajumoke
Ahmed Ruqaiyatu Bappa
Ahmed Sa'ad (lt Col)
Ahmed Sahabo Salihu
Ahmed Shifau
Ahmed Sulaiman Bagana
Ahmed Suleiman
Ahmed Suleman Aliyu
Ahmed Talatu Gawarza Dass
Ahmed Tukur
Ahmed Uba Maryam
Ahmed Umma Wudil
Ahmed Zainab Datti
Ahmodu Abubakar
Ahua Samuel Akor
Ahunna Ijeoma Monica
Aibinuomo Rachael Temilola Stslwm
Aideloje Olohita
Aideyan Aisosa Winner
Aigbe Hannah
Aigbefo Lawrenta Osebhajimend E
Aigbo Abraham Aigbo
Aigbodion Dennis Idemudia
Aigbogun Patricia Ehizuwa
Aigbogun-brai Felicitas
Aigbokhan Margaret Elomense
Aigbologa Nelly Nora Yeri
Aigbomian Eunice Efe
Aih Hamza Abubakar
Aikhenomia Egbomiade Emmanuel
Aikhomu Emmanuel Oriarewo
Aikpitanyi Godfrey Imuetinyan
Aikpitanyi-iduitua Godwin A.
Ailende Roselyn Ruare
Aileru Folake Olaide
Aimiuwu Catherine
Aina Anthony Gbenga
Aina Festus Olajide
Aina Ololade
Aina Oluwatosin
Aina Oluwayemisi Temitope
About Us
Aina Opemipo Oluwayemisi
Aina Samuel Dotun
Aina Sunday Omotayo
Aina-badejo Tinuade Sewande
Ainoko Joy Alami
Airhunmwunde Iyen Daniel Iyen Daniel
Aisha Mohammed Baba Yola
Aitanun Victor Asuenimhen
Aitimon Patrick Aimienmon
Aituaefe Erhohon Joshua
Aiwoyo Osaromme Henry
Aiyedenu Grace
Aiyenimelo Akin Olubode
Aiyenomuro Adele Segun
Aiyeola Adijat Motunrayo
Aiyeola Segun
Aiyeomoni Nicholas Emedane
Aiyeoribe Samuel Olufemi
Aiyesa Olayinka Rachael
Aiyetoro Rilwan Gbolahan
Ajade Hakeem
Ajadi Tawa
Ajaegbu Uche Merit
Ajaelo Francisca Chinyere
Ajaelu B. Kizito Chiedozie
Ajaero Chimaobi Joshua
Ajagba Chioma
Ajagbe Iseoluwa Emmanuel
Ajagbe Josiah Kayode
Ajagunna Mary Yemi
Ajah Simon Nnaemeka
Ajaka Chibuzo Eunice
Ajakaiye Adeola Jacob
Ajakaiye Ayorinde
Ajakaiye Babatunde Peter
Ajakaiye Elizbeth Olufunke
Ajakaiye Tomiwa Oluwaseye
Ajala Abolaji Yekinni
Ajala Edward Ibikunle
Ajala Ganiu Babatunde
Ajala Matthew Adebowale
Ajalode Adedunmola Mopelola
Ajanah Elizabeth Ohunjene
Ajanah Hamza
Ajanaku Samuel Oluwatosin
Ajani James Adebanji
Ajani Julius Ajao
Ajani Olufunsho Adeyemi
Ajani Serifah Opeyemi
Ajani-adeigbe Dauda Asimiyu
Ajani-lawal Isiaka Ilori
Ajao Adewale
Ajao Alice Bisi
Ajao Fatimoh Adebisi Bami Dele
Ajao Isaiah Olusegun
Ajao Oluwatosin Adegoke
Ajayi
Mrs Taiwo Mercy
Ajayi Akinolu Temitope
Ajayi Bidemi Olugbenga
Ajayi Dare
Ajayi Ezekiel Oluranti
Ajayi Feyisara Ebunolu
Ajayi Folasade Opeyemi
Ajayi Israel Olugbolade
Ajayi Mahmood Ahmed
Ajayi Mercy Bolanle
Ajayi Michael Femi
Ajayi Morufat Yetunde
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
1361
1362
1363
1364
1365
1366
1367
1368
1369
1370
1371
1372
1373
1374
1375
1376
1377
1378
1379
1380
1381
1382
1383
1384
1385
1386
1387
1388
1389
1390
1391
1392
1393
1394
1395
1396
1397
1398
1399
1400
1401
1402
1403
1404
1405
1406
1407
1408
1409
1410
1411
1412
1413
1414
1415
1416
1417
1418
1419
1420
1421
1422
1423
1424
1425
1426
1427
1428
13496
13555
13568
13571
212346
13591
13594
13601
209777
13603
13721
13655
13678
13722
13706
115244
211527
122306
13775
13806
13829
13836
13837
220032
13881
13882
13885
219425
220517
13911
220518
13924
13938
13942
13951
13964
13969
120494
13970
13977
14029
232560
14059
212859
14097
14099
14103
14105
14109
14115
14125
212410
14147
229524
14160
14165
14173
14185
14194
14200
14202
14212
14214
14261
14263
14264
14265
14273
28092
95838
91533
55216
25688
55222
55224
55227
55301
55229
32214
91539
91540
55307
90282
55313
55323
95852
32216
55343
55356
55360
55361
55398
55383
55384
55385
94011
104572
55392
39610
102019
32224
55404
13643
55411
32225
55424
55413
102020
55436
55440
55441
55453
39612
55458
55459
55461
49354
55467
55470
55475
55474
55478
28099
55482
55486
55491
55498
55502
55504
55510
55512
44546
18162
20703
25695
102024
1429
1430
1431
1432
1433
1434
1435
1436
1437
1438
1439
1440
1441
1442
1443
1444
1445
1446
1447
1448
1449
1450
1451
1452
1453
1454
1455
1456
1457
1458
1459
1460
1461
1462
1463
1464
1465
1466
1467
1468
1469
1470
1471
1472
1473
1474
1475
1476
1477
1478
1479
1480
1481
1482
1483
1484
1485
1486
1487
1488
1489
1490
1491
1492
1493
1494
1495
1496
14275
211659
14280
14284
14305
14324
14326
214483
14358
14379
14380
14381
14387
14392
14393
14398
224384
14400
123777
14427
231732
14440
212481
14461
14465
14478
14479
14482
228994
14495
14519
14540
14579
14583
14584
14600
14637
14640
219177
14654
210298
14677
14921
14681
223191
14685
14717
119462
210117
14737
14745
14747
14754
14760
231178
14765
223630
224548
14769
214076
214075
14805
14807
14816
14821
14832
211167
14853
55540
24245
55541
55544
55549
55557
32236
28100
55578
91559
43419
30059
55590
55594
13646
13649
55597
55598
55601
55607
55608
55613
55616
55619
43420
55626
55627
23838
20709
38014
55645
55650
55661
91566
55663
55668
55682
102035
55696
55691
94028
32250
55699
55700
91569
32251
44550
55752
55753
55721
95911
32254
32255
32256
55729
94027
55755
55733
55737
55758
55759
95926
95927
24971
18164
55766
55774
55775
Ajayi Nathaniel Oluwadusi
Ajayi Olubunmi Eniola
Ajayi Olumayowa Micheal
Ajayi Olumide Abayomi
Ajayi Oluwabunmi Eva
Ajayi Oluwafemi
Ajayi Oluwafunmilayo
Ajayi Oluwaseun Samson
Ajayi Oluwatomilola Temitope
Ajayi Oluwatope
Ajayi Richard Richard Itopa
Ajayi Samuel Olaitan
Ajayi Taiwo Eniola
Ajayi Taiwo Olasunkanmi
Ajayi Wale Ayodele
Ajayi-yusuf Abdurrazaq
Ajeigbe Jacob Bukola
Ajekiigbe David Akinwale
Ajemigbitse Adetutu A
Ajere Babatunde Olusayo
Ajetunmobi Okagwu Christabel
Ajetunmobi Temitope Adeola
Ajetunmobi Wasiw Adegbenga
Ajibade Akeem
Ajibade Benseil Abidemi
Ajibade Bolajoko Oluwatoyin
Ajibade Christianah Olufunmil Ayo
Ajibade Iyanda Anafi
Ajibade Mutiat
Ajibade Olukunle Abiodun
Ajibade Wasiu Akanni
Ajibade Yunusa Garba
Ajibo Ifeanyi
Ajibode Islamiat Bolatito
Ajibola Adebayo
Ajibola Emmanuel Olamuyiwa Ib Idap
Ajibola Hannah Oluwakemi Ife Dara
Ajibola Henry V.
Ajibola Ijeoma
Ajibola Monisola Temitope
Ajiboye Amos
Ajiboye Joseph Olanrewaju
Ajiboye Joseph Oluwasegun
Ajiboye Olalekan
Ajiboye Sunday Anthony
Ajibuwa Comfort
Ajidagba Babasola
Ajidagba Michael Olusegun
Ajide Kazeem Olawale
Ajidele Tokunbo Aminat
Ajieh Ossai Franklin
Ajifowowe Alfred Femi
Ajifowowe Femi Alfred
Ajiga Oluyinka Abideen
Ajijala Margaret Bosede
Ajijola Bayo Mak Raheem
Ajikobi Kudirat Modupe
Ajileye Sunday Israel
Ajilore Abosede Modupe
Ajilore Oluwole Mobolarinde
Ajilore Victor Olufemi
Ajimoti Omowumi Adekemi
Ajimuda Omotola Olusegun
Ajjid Mohammad Hassan
Ajoagu Kingsley Onyeka
Ajoagu Solomon
Ajobere James Olusegun
Ajodo Hycienth Ojodomo
ANNUAL REPORT
2014
Ajodo Sunday
Ajogbor Alfred
Ajogwu Chamberlain Ezugwu
Ajoku Chinonso Angelina
Ajomale Adeniyi
Ajomale Temitope Olusegun
Ajomale Tosin Temitope
Ajoni Justina Ojekemi
Ajose Victoria Taiwo
Ajulo Temitope Olubukola
Ajulo Vincent Meni
Ajulu Chukwuemeka Uchenna
Ajumo Emmanuel Olatunji
Ajumobi Samuel Busola
Ajumogobia Awune
Ajumogobia Soemineta
Ajumuka Anthony
Ajunam Stella Ifeanyichukwu
Ajuogu John O.
Ajuyah Solomon
Ajuzie Helen Ogechi
Aka Esther Aghofuyemi
Aka Olayinka Gladys
Akabogu Lauretta Nchedo
Akabueze Emeka
Akadri Joseph Saka
Akadri Muibi Adeoye
Akaeme Augustine Kenechukwu
Akaeze Obiora Adolphus
Akagha Chinedu Obinna
Akaiso Bassey Etim
Akali Andrew Inocent
Akamigbo Anthony
Akamni Gbemisoye Oludare Joh Nson
Akamnonu John Oguguo
Akanbi Ayodele Adebowale
Akanbi Olatunde Mutaleeb
Akanbi Oluwafemi & Oby
Akanbi Rafiu Omoniyi
Akanbi Shefiu
Akande Adejoke Adeoti
Akande Ademola Oluwatobi
Akande Aduragbemi Adebanke
Akande Alaba Nadezarat
Akande Alabi Joseph
Akande Atilolaoluwa
Akande Funmilayo Temitope
Akande John Olukayode
Akande Katryne Ekaette
Akande Mojirayo Sherifat
Akande Olaide Kazeem
Akande Olawumi Kikelomo
Akande Olufunke Adebola
Akande Oluwafemi Joshua
Akande Oluwanifemi Olubukola
Akande Oluwatosin
Akande Oluyinka George
Akande Omobola Olaronke
Akande Peter Wusa
Akang David Basil
Akang Esther Basil
Akangbe Lola
Akangbe Toye Kehinde
Akanihu Francis Nwankwo
Akaniro Chioma Nwakaku
Akanji Idowu Titilope
Akanji Rasheed Animashaun
Akanle Olabopo Oyetunde
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
1497
1498
1499
1500
1501
1502
1503
1504
1505
1506
1507
1508
1509
1510
1511
1512
1513
1514
1515
1516
1517
1518
1519
1520
1521
1522
1523
1524
1525
1526
1527
1528
1529
1530
1531
1532
1533
1534
1535
1536
1537
1538
1539
1540
1541
1542
1543
1544
1545
1546
1547
1548
1549
1550
1551
1552
1553
1554
1555
1556
1557
1558
1559
1560
1561
1562
1563
1564
14858
14859
14866
229279
14894
14896
14907
52362
121305
232419
14938
218970
14957
14961
220831
14980
228544
14990
215807
123921
15000
15010
15021
15022
15023
223019
15062
15074
15078
15080
15096
15098
15107
15112
15124
15125
15132
15142
223840
15170
15171
215753
210082
15179
15187
15188
15193
222911
227636
15221
15223
15225
118844
15241
15260
15271
15278
15284
15300
15305
15306
15307
15309
210482
15330
217720
15381
214939
55777
55778
55783
55792
55796
94032
38018
13658
38019
55813
13660
55820
43422
99766
55825
55826
25710
55831
55833
55838
55839
55843
55846
29691
55847
55856
28106
55869
55870
55874
55880
55882
28107
95951
55899
55900
28109
32268
25712
102047
55916
91577
28121
28116
28120
55921
32271
25713
55936
55938
55940
105111
20716
102051
55947
55949
55952
55954
32285
55966
55967
55968
55969
105242
55980
56004
56006
56014
1565
1566
1567
1568
1569
1570
1571
1572
1573
1574
1575
1576
1577
1578
1579
1580
1581
1582
1583
1584
1585
1586
1587
1588
1589
1590
1591
1592
1593
1594
1595
1596
1597
1598
1599
1600
1601
1602
1603
1604
1605
1606
1607
1608
1609
1610
1611
1612
1613
1614
1615
1616
1617
1618
1619
1620
1621
1622
1623
1624
1625
1626
1627
1628
1629
1630
1631
1632
15407
15420
210418
212112
215016
218628
211820
215499
15523
15526
15528
15530
15561
15564
15567
15580
15596
15611
15625
212345
15641
15660
15667
15672
210997
15686
15702
15710
15712
15714
15723
15727
15734
116619
15763
15768
15781
15808
228625
15699
15835
220688
15867
15872
15901
15911
15925
223210
15935
223270
15952
15979
15988
15990
110507
16030
16037
16048
120585
16056
16057
16074
16090
114644
16101
16117
16158
122454
56024
56030
56038
56068
56069
56070
56079
56081
56088
56091
32293
56093
56116
56118
56120
38956
56133
56142
56154
56155
94048
95981
56166
56170
56172
95987
56181
56185
56186
56187
56192
56195
56197
56204
56218
56220
56225
43425
102055
56239
56250
56260
56263
25715
56282
96016
56297
56300
56304
24972
96018
96025
29698
89141
56356
56339
56343
56359
56361
105246
56362
94057
56375
56385
56378
56395
56407
91630
Akanmu Folajimi Adekunle
Akanmu Olusegun Alani
Akanni Adetunji Oluwagbenga
Akanni Oladehinde I.
Akanni Sheriff Ishola
Akanni Taofik Olayinka
Akano Edward Francis Njeman Ze I
Akano Eric Eziukwu
Akano Ralph Uzoma Prince
Akapan Isaac John
Akapo Olusegun Solomon
Akaranwolu Henry Ezinwa
Akasu Global Ventures
Akatanimo Hakeem Ayinde
Akatu Solomon Ted
Akawushim-nwosu Abigail Nkechi
Ake Adam
Ake Olumide Thomas
Akede Philip
Akeeb Nikki Lateefat
Akeem Adewale Oyebayo
Akeh Rena Kamsyochukwu
Akeju Adetoun Atinuke
Akeju Adeyemi Opeyemi
Akeju Ajibola Andrew
Akeju Fehintola Adetutu
Akeogba Youth Club Ofigbanke
Akeredolu Funmilola
Akeredolu Olufemi Rotimi
Akeredolu Paul Omowaye
Akerele Ojo
Akerele Olatunde Oluwaseye
Akerele Rachael Ebun
Akerele Wilson Ademola
Akhabhoa Precious Onomhene
Akhabhoa Princess Osereme
Akhabue Peter Ibolo
Akhata Charity Amu
Akhidime Gladys Izegboya
Akhigbe Benedict
Akhigbe David Agbonifo
Akhigbe Emmanuel Emmy
Akhigbe Fidelis
Akhigbe Idorenyin
Akhigbe Omon Augstin
Akhigbe Omuwa Naomi
Akhile Omo Emmanuel
Akhilele Daniel Osaremen
Akiba Bosede Shemau
Akibo Michael Adekunle
Akibon Ashiru Adepowon
Akibu Magaji
Akigwe Ifeanyichukwu Michael
Akikibofori Owajimimin
Akimsola Olajide Enitan
Akin Bello Tiwalola Omotilewa
Akinade Mujibat Oluwatoyin
Akin-ajayi Oluwabukola Oladuni
Akinbami Temitope Oluwatobi
Akin-bello Akintomiwa Moromolaol Uwa
Akin-bello Anjolaoluwa Omoyelemi
Akin-bello Ayokunmi Gbemisola
Akinbile Akintunde Michael
Akinbiyi Oladoyin Abiola
Akinbo Olusegun Samson
Akinbola Lateefat Aina
Akinbolusere Olufisayo Akinyinminu
Akinbowale Olubode John
About Us
Akindayini Gbenga Samuel
Akinde Olawale Akeeb Abiola
Akinde Sulaimon Gbolahan
Akindele Olujoke
Akindele Shulammite Abidemi
Akindele Toluope Rasheedat
Akindolie Victoria Oladiwura
Akindolu Busayo Kikelomo
Akinfenwa Adenike Titilayo
Akinfenwa Cecilia Adekunbi
Akinfenwa Morounfolake Olariike
Akinfenwa Victor Akinsola
Akingbade Funmilayo Bunmi
Akingbade James Oluwasegun
Akingbade Olanrewaju Ajibade
Akingbesote Olumide
Akingbulugbe Tunde Akinwunmi
Akinjayeju Olubukola Omoyeni
Akinjiyan Mojibayo
Akinjo Ebunoluwa Anuoluwa
Akinjokun Adesina Adebayo
Akinkugbe Ayomide
Akinkugbe Olukayode
Akinkunmi Abigail Abioye
Akinkunmi Akinyinka Olugbenga
Akinkunmi Oyebisi Grace
Akinla Martha Olufunke
Akinlabi Mariam Titilayo
Akinlabi Oluwajomiloju Lagos
Akinlabi Oluwayojusimi Annabel
Akinlade Alice Olufunlayo
Akinlade Bosede Olusola
Akinlade Kehinde Felicia
Akinlade Messrs Lanre & Teslim
Akinlawon Gilbert Olushola
Akinleye Ajibola Olufowoke
Akinleye Josiah Akande
Akinlolu Olayiwola Atanda
Akinlosotu Akintunde Olaniyi
Akinlotan Debo Francis
Akinloye Yetunde Olajumoke
Akinluyi Oluwatosin Fikayo
Akinmade Ibironke Omojola
Akinmadeyan Raphael Olu
Akinmusire Olabisi Oluwafummilol A
Akinnayajo Caleb Owoyele
Akinniranye Olubukola
Akinniyi Damilola Mayowa
Akinnukawe Shola Tony
Akinnuoye Yewande Kemi
Akinola Ajibola Sikiru
Akinola Florence Fummilayo
Akinola James Iddwu
Akinola Joshua Adegbola
Akinola Olayemi
Akinola Saliu Ayanlayo
Akinola Taiwo Anthony
Akinola-bakare Oluyomi Folasade
Akin-olugbade Owugbade
Akin-olugbemi Titilayo
Akinosho David Akinlawon
Akinpe Ganiyu Akanbi
Akinpelu Ibrahim Olalekan
Akinpelu Jimoh Oladipupo
Akinpelu Oulius Adeyemi
Akinrelere Olusoji
Akinrinlade Stephen Adelanke
Akinsanmi Latifat Aina
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
1633
1634
1635
1636
1637
1638
1639
1640
1641
1642
1643
1644
1645
1646
1647
1648
1649
1650
1651
1652
1653
1654
1655
1656
1657
1658
1659
1660
1661
1662
1663
1664
1665
1666
1667
1668
1669
1670
1671
1672
1673
1674
1675
1676
1677
1678
1679
1680
1681
1682
1683
1684
1685
1686
1687
1688
1689
1690
1691
1692
1693
1694
1695
1696
1697
1698
1699
1700
16215
16264
16286
16298
16312
117764
215138
16328
16329
113839
16335
16350
16377
16381
16398
16418
119014
16450
16455
221756
123880
16511
16519
16521
16555
116441
16566
16569
207740
112599
16587
212163
207351
16611
207562
223537
16674
16677
16678
16681
16707
228272
16718
229375
16755
229376
16771
16773
16776
16782
220631
16817
16843
16872
16881
16882
16883
16884
16885
16886
16887
16888
16889
16890
16891
16892
16893
16895
56444
56470
56491
56498
91641
32313
56522
28132
96066
56523
56517
56529
96070
32316
96072
25717
56551
56558
91647
56567
32321
56590
56599
94065
56618
56626
32322
56629
94070
99776
30066
7161
56644
32324
56656
56672
91659
56679
105249
56682
56696
96111
56706
91662
56729
56730
96121
56741
56743
56748
56775
56763
91666
56782
13682
13683
13684
13685
13686
13687
13688
13689
56789
13690
13691
56790
13692
56792
1701
1702
1703
1704
1705
1706
1707
1708
1709
1710
1711
1712
1713
1714
1715
1716
1717
1718
1719
1720
1721
1722
1723
1724
1725
1726
1727
1728
1729
1730
1731
1732
1733
1734
1735
1736
1737
1738
1739
1740
1741
1742
1743
1744
1745
1746
1747
1748
1749
1750
1751
1752
1753
1754
1755
1756
1757
1758
1759
1760
1761
1762
1763
1764
1765
1766
1767
1768
16896
212101
16933
16934
222390
16955
121001
211284
17056
17059
17061
17063
116641
17078
17084
17104
227809
224271
17137
17144
207645
210444
113024
17173
17205
17210
110505
17240
17251
17297
17301
17313
207260
121638
17336
121308
17349
17351
117734
117850
17390
17396
17475
220262
17480
17482
219604
17494
17501
17503
17508
216069
17514
17520
17533
17548
17549
17555
17562
17563
123141
17582
17598
216341
17627
17628
17633
17642
56793
56809
56811
56813
102066
39657
56841
29704
56851
30067
56852
56853
56860
56858
89146
56865
37622
18169
56879
20018
20020
20021
37547
99788
20029
28136
56941
56908
23382
56918
56919
32361
56947
20066
56931
32366
32364
20056
32369
56951
56956
43430
56977
25729
56979
56980
25733
25734
56986
56988
102084
102085
25741
56993
24997
25746
25747
24998
25748
25749
20724
30070
89841
30073
18171
30074
20731
32384
Akinsanya Adekunle
Akinsanya Waidi
Akinsete Tolu
Akinshipe Simisola Comfort
Akinsipo Raobil Isola
Akinsola Christie Olufemi
Akinsola Gloria Omotayo
Akinsola Harry Femi
Akinsola Jeremiah Aremu
Akinsola Kazeem Adisa
Akinsola Olufunmilola Omolabak E
Akinsulire Adewole Tayo
Akintade Oluwasanmi Lawrence
Akintade Samuel Adeoye
Akintan Olufunso Racheal
Akintaro Oladimeji Akinyemi
Akintayo Johnson Shola
Akinteye Olubunmi Abu
Akintimehin Olajide Tope
Akintobi Akintunde Oluseyi
Akintola Olanisimi Fredrick
Akintola Taiwo O
Akintomide Adetola Ajibola
Akintomide Anthony Olubunmi
Akintoye Oluwakemi Agbeke
Akintoye Sunday Akintola
Akintunde Adebola Aminat
Akintunde Akinola Oluwaseun
Akintunde Aremu Olawuyi
Akintunde Awotunde
Akintunde Olufemi John
Akintunji Pauline Titilayo
Akintunwa Adesokeji Fred
Akinwale Akinsola Olumuyiwa
Akinwale Akintunde Hezekiah
Akinwande Abigail Olajumoke
Akinwola Oyindamola Dorcas
Akinwole Muyiwa Sunday
Akinwole Oladotun Remilekun
Akinwolere Catherine Omolara
Akinwunmi Adebayo Wasiu
Akinwunmi Julius Babajide
Akinwunmi Safiya Laraba
Akinwunmi Temidayo S.
Akinyemi Adeola Oluwayemisi
Akinyemi Adewale Muniru
Akinyemi Durojaye Yekini
Akinyemi Faith Toluwani
Akinyemi Folashade Florence
Akinyemi Julius Olusola
Akinyemi Olujide Abiodun
Akinyemi Richard Olusegun
Akinyode Olusola
Akiode Daniel Oladele
Akiolu Ajibade Fatai
Akiolu Aminat Adepeju
Akiolu Fatiu Adegbola
Akiolu Fuad Ademola
Akiolu Gboyega Tajudeen
Akiolu Kuburat Fadeke
Akiolu Kuburat Adejoke
Akiolu Kudirat Amope
Akiolu Margaret Olanike
Akiolu Modinat Adetola
Akiolu Moshood Kayode
Akiolu Muinat Titilayo
Akiolu Mulikat Abiola
Akiolu Taofiq Adeyemi
ANNUAL REPORT
2014
Akiolu Titilola Omotayo
Akiwowo Abiola O.
Ako Morayo Phoebe Ijeoma
Akobe-ajibolu Abiola
Akobo Seddon Benjamin
Akodu Eunice Fehintola
Akomolafe A. Adeleye
Akomolafe Johnson Adeniyi
Akoni Stephen
Ako-njoku Ebith Obiageli Nonye
Akonoghrere Rita Oghenekevwe
Akonton Temitope Eyitayo
Akor Adikwu Joseph
Akor Paulina Egwa
Akorede Abubakar Folorunsho
Akoshile Rasaki
Akpa Romanus Onyeanaoke Chukwu
Akpa Sandra Ogonna
Akpabio Akpabio George
Akpabio Godfrey Thompson
Akpabio Nse Edward
Akpabio Patience Christopher Ibanga
Akpaibor David Oshioke
Akpam Naomi Tini
Akpan Charles Asanga
Akpan Clement
Akpan Edet Davies
Akpan Eno Gift
Akpan Friday
Akpan Mercy
Akpan Mfon Oladimeji Magnus
Akpan Nseobong Jeremiah
Akpan Okon Etuk Udoh
Akpan Otuekong Umoh
Akpan Peter Ekpenyong
Akpan Silas Henry
Akpan Sunday Abraham
Akpan Sunday Jacob
Akpan Sylvester Ekanem
Akpan-ubi Adeola And Donald
Akpasubi Victor Eseomo
Akpata Julius Oyebanji
Akpo Emily
Akpo Raymond Ogheneyerume
Akpobasah Efe Dorothy
Akpobudu Onos Valentine
Akpoguma Hitler Augustine
Akpoigbe Stephen Avwoghokoghen E
Akpojotor Utieyin Ogheneuwore
Akpoka Charity Osobhaleakho
Akpokugbe Joy
Akpomerhohwo Solomon Ebruphiyo
Akpomiemie Khalin
Akpomughe Godspower
Akporhuarho Lucky Friday
Akpoteta Oghenevwogaga
Akpotoma Faith Ejiro
Akpotuzor Josephine Onudiniru
Akpoviri Emuowhochere Benson
Akpovwa Aghogho
Akpu William Uderika
Akpunonu Chioma Cynthia
Aku Danjuma A
Akubude Ifeoma Eunice
Akubugwo Emmanuel Iroha
Akubuilo Chukwudi Joseph
Akubuo Kelechi Kelvin
Akudolu Chimuanya Daniel
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
1769
1770
1771
1772
1773
1774
1775
1776
1777
1778
1779
1780
1781
1782
1783
1784
1785
1786
1787
1788
1789
1790
1791
1792
1793
1794
1795
1796
1797
1798
1799
1800
1801
1802
1803
1804
1805
1806
1807
1808
1809
1810
1811
1812
1813
1814
1815
1816
1817
1818
1819
1820
1821
1822
1823
1824
1825
1826
1827
1828
1829
1830
1831
1832
1833
1834
1835
1836
17644
229122
17661
17669
17670
17703
17714
17745
218416
17766
17767
17768
17772
17795
17796
17826
17829
17832
17841
221026
17870
17913
17914
115370
17934
17941
17950
17952
17969
213063
17998
18001
210835
18009
18018
230403
18035
18040
18055
228547
18094
18100
228548
18124
121083
18169
18172
18184
18209
18219
18229
18238
18240
18558
18289
18323
18327
18349
18355
124984
218741
18383
18384
18414
18446
18469
18472
214651
39673
20732
38030
18172
18173
44562
18175
32391
89843
20736
57075
57076
57079
57085
57086
91678
96141
91679
49377
91683
57115
102092
91680
57193
91681
99797
90389
91682
57154
57197
39677
90391
90392
57166
32399
57175
57200
25763
96161
32403
57211
6940
32405
90393
57243
102095
18177
102097
99799
57262
24793
57266
96175
57281
57292
32409
32410
91695
38038
57322
96182
49389
94094
57334
57347
11794
13703
57361
1837
1838
1839
1840
1841
1842
1843
1844
1845
1846
1847
1848
1849
1850
1851
1852
1853
1854
1855
1856
1857
1858
1859
1860
1861
1862
1863
1864
1865
1866
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
18506
18533
18535
114905
18546
18563
18576
18609
18615
18637
18640
18641
18657
18658
18663
18665
122527
18709
18727
18741
18735
18743
18749
214890
18786
18788
18791
18793
18798
18800
18802
18803
18804
18805
18806
18807
18808
18809
18811
18816
18828
18836
205500
18840
114692
229515
212478
215744
18896
215743
18959
122990
18973
18979
207138
26455
18984
18986
18987
209989
220074
19061
19085
19159
212576
19193
19199
19209
57379
57388
30085
57390
32420
25766
32423
32430
23385
57419
90402
91710
39701
57423
32433
18
30087
57454
99806
39703
44576
32439
44578
48449
48450
102118
44583
44584
43440
44585
44587
44588
44589
44590
44591
44592
44593
44594
39705
7213
28154
57465
32446
89152
57472
44603
23390
89846
44605
89847
44618
32455
20744
102119
30090
44620
32451
32452
57494
39722
32461
28157
57511
32466
44674
39729
32468
32470
Akudung Anawish Philip
Akuenebu Philip Ikenna
Akujobi Ikechukwu Cyril
Akuka Chidera Wilson
Akuka Churchill Chika
Akunne Jude Ikechukwu
Akura Chinedu Elvis
Akwarandu Chinny Ihuoma
Akwolu Charles Chibuko
Akwuaka Felicia Ifeoma
Akwuaka Ukamaka Agatha
Akwuba Chikwendu Fred
Akwugo Onuekwusi
Alaba Funmilola Adedayo
Alaba Iteoluwakiiti Teniola
Alabi Aderonke Dorcas
Alabi Adeyinka Akeem
Alabi Adumola Eunice
Alabi Ayodele Habeebat
Alabi Babatunde Olasehinde
Alabi Folashade Blessing
Alabi Moshood
Alabi Mosinmiloluwa
Alabi Olalekan M.
Alabi Olasubomi Emmanuel
Alabi Olubunmi Abidemi
Alabi Oluwabusayo Joshua
Alabi Oluwafemi Iyiola
Alabi Omobolanle Esther
Alabi Rufus Kehinde
Alabi Samuel Olusegun
Alabi Seminire Helen
Alabi Sunday Oluwaninyo
Alabi Taiwo Abosede
Alabi Tony Durojaiye
Alabi Tunji
Alaboru Charles Ovie
Alabson Martin
Alade David Adeseye
Alade David Olamipo
Alade Omotoyosi Sekinat
Alade Samuel Omotayo
Alade Sukanmi Martins
Aladejana Dada Abiola
Aladesua Philips & Yemisi Mr. & Mrs.
Aladeusi Faruk
Aladi Valentine Okezie
Alafah Jephter Okwuisi
Alagbe Akintunde Samson
Alagbe Oyebanji Benjamin
Alagoa Yela Joseph
Alaja-browne Carlene Angella
Alaje Vincent Akin
Alake Mabel Modupe
Alakija Wole
Alamai Umar Atuman
Alambe Robert
Alamutu Kamilu Idowu Mobolaj I
Alaneme Anderline Ngozi
Alangrange Securities Ltd Deposit
Alani Aminat Oluwabusayo
Alao Ahmed Opeyemi
Alao Alatunbosnn Kayode
Alao Musa
Alara Olugbenga
Alasa Hassanat Olaide
Alasa Omoh
Alashe Olasimbo Rukayat
About Us
Alausa Yusuff Alausa
Alawoya Oluranti Abidemi
Alawuba Oliver
Alayaki Kabirat Olabisi
Alayande Esther Emiloye
Al-aziz Adebayo Rafiu
Albert Thomas Oscar
Alebiosu Victoria Ulunma
Aleem Kamorudeen Folorunso
Alegun Wilson Prince
Alejolowu Omokolade Oluwaseyi
Aleke Ifeanyi
Alemoh Ewela Ernest
Alemongwa Andy Ojore
Alenkhe Mary
Aleogena Paul
Aleshinloye Olawale Abiodun
Alfa Samuel Ojochogwu
Alfred Mangai Abams
Alh Musa Adamu
Alh. Bashir Badamasi Mariam
Alh.ahmed Usman
Alhaji Muhammad
Alhaji Musa Alhaji Yakubu
Alhaji Mustapha Abdulhadi
Alhaji Saleh Sunusi
Alhaji Sunusi Hussain
Alhaji Tijjani Abdullahi
Alhaji Yakubu-onalo Abdulmalik
Alhaji Yau Anas
Alhaji Yau Fatima
Alhaji Yau Hajara
Alhaji Yau Khalid
Alhaji Yau Maryam
Alhaji Yau Sumaiya
Alhaji Yau Ummassalamat
Alhaji Yau Zainab
Alhaji Yav Zulaihat
Alhamdu Keziah
Alhassan Abdu Mohammed
Alhassan Aminu
Alhassan Emmanuel
Alhassan Haru
Alhassan Ibn Nuhi
Alhassan Maju
Ali Abubakr
Ali Ahmadu Nguru
Ali Akims Hussaini
Ali Alhajiji Umar
Ali Gyanku Mailafiya
Ali Mohd Umar
Ali Muhammad Zarah
Ali Ozoemena Cyprian
Ali Saleh
Ali Salfa Mamtur
Ali Sani Mahmud
Ali Suleiman Baba
Ali Sunday Idoko
Ali Sunday Jeremiah
Aligana Muhammad Dr.
Alika Egiliwe Donald
Alikah Golda
Alimi Ganiat Bolanle
Aliu Mwuese Sheila
Aliyu Abba Gabasawa
Aliyu Abdulmalik
Aliyu Abubakar
Aliyu Abubakar Saddio
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
1905
1906
1907
1908
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
221812
19215
19451
19230
19452
212534
211682
219388
19281
19301
19316
19466
218188
19335
232332
19472
19364
19365
19380
207734
19476
19389
19402
19479
232333
118997
19434
19441
209387
19497
212166
19505
19507
212167
19511
19514
208932
19543
19559
19566
19584
19611
19618
19619
19645
217396
205582
219320
119844
19680
19682
19708
19739
19740
19746
19760
19766
19770
123147
19776
19793
19803
116176
124870
19860
19915
19885
228808
105011
32471
9125
19512
38841
39778
44685
44687
20750
39747
32475
32492
44691
39754
39758
44694
57569
39759
28162
48465
57580
39764
105010
96209
39767
44699
44673
39774
32495
104580
89854
89166
57586
89856
24262
105012
44707
99832
57597
57602
57610
102130
57630
13716
57656
57657
99833
25004
57665
57667
57668
29719
57700
57701
57704
57710
99835
57714
57720
57716
32508
57733
57746
57749
28167
94105
57761
57765
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
19903
212633
214017
19935
19954
19968
217785
19983
19985
19987
19992
20007
20010
20029
20030
19947
228388
20043
20069
210919
119300
213709
20101
209379
20146
20145
221628
20149
20155
20163
20172
20175
20178
20183
20191
20215
20216
206278
20220
20234
20240
20245
20253
111513
220019
20326
218067
225260
223031
20335
20340
20341
20354
20361
20366
211125
20391
20405
20418
20431
20449
20486
206745
20633
20499
20529
20636
20639
96234
91724
30105
28168
57797
30106
57820
89168
102146
38043
57805
28172
57808
57813
57814
32520
38045
57825
25786
30110
32522
57840
23853
32526
18185
102162
57861
57863
57865
32531
20764
32532
20766
18186
57875
57880
18187
18189
89171
57885
57886
32537
102171
57898
96243
99840
57920
57921
57922
1906
39808
38844
57928
57932
25797
57938
39811
57948
39814
32549
25799
19517
44721
48478
28184
13725
32564
44757
Aliyu Adamu
Aliyu Ahmad Maryam
Aliyu Aisha Larai Mahmud
Aliyu Amina
Aliyu Babura Zainab
Aliyu Fatima Binta
Aliyu Fatima Yola
Aliyu Gusau Shehu
Aliyu Hassah Yunus
Aliyu Idris
Aliyu Kayode
Aliyu Lawantare Muhammad A. Maidab Aro
Aliyu Lubabatu Yola
Aliyu Mohammad
Aliyu Mukhtar S.
Aliyu Muraddeen
Aliyu Musa
Aliyu Musayyib
Aliyu Omoh Suwedat
Aliyu Rano Aminu
Aliyu Sabonbirni Hafsatu
Aliyu Salihu
Aliyu Sulyman
Aliyu Sulyman Asma'u Azini
Aliyu Usamatu Sisa
Aliyu Usman
Aliyu Zainab
Aliyu Zayyanu
Aliyu Zurmi Ibrahim
Alka Ayuba
Alkali Habiba Hajia
Alkali Egbeamiuwa Mohammed A Ishe
Alkali Friday Abuh
Alkali Ibrahim
Alkali Ibrahim Mohammed G.w
Alkali Khadijah Mohammed
Alkasim Sanusi
Allanana John Alu
Alli Abosede Adijat
Alli Adekunle Kazeem
Alli Christianah Olufunmilola
Alli Ronke Sidikat
Alli Temitope Bushirat
Alli Tunde Wakeel
Alliu Abdul Fatai
Alliu Kayode
Allu Tiku Gyobe
Allwell Uzodinma
Al-muminaat The Believing Women Org
Alo Gloria Agboemomo
Alo Olusola Akinola
Alofe Gbenga John
Alomaja Afolabi
Alominle Olalekan Mustapha
Alonge Adenike Dorcas
Alonge Jessica Temitope
Alonge Oladeji
Alonge Oluwatimilehin Josh
Alonge Samson Oluranti
Alonge Titus Adebanjo
Alozie Abel Collins
Alozie Goodluck Gift
Altis Equity Investments Limited
Aludogbu Michael Ijeoma
Alufohai Ewah
Aluko Samuel Idowu Samuel Idodu
Aluko Joel Sunday
Aluko Olufunmilola
ANNUAL REPORT
2014
Aluko Oluwakemi
Aluko-agborume Ronke Grace
Alumona Veronica Okike
Aluyi Jonah Aimuaemwosa
Amade Abdul
Amadi Caroline Nkechi
Amadi Chinyere Charity
Amadi Edwin Eddeh
Amadi Emenike
Amadi Felix Onwuzurigbo
Amadi Gibson Chidomere
Amadi Julian Ugo
Amadi Lawrence Chukwudi
Amadi Rita Henrietta Chizom Am
Amadi Roseclare Chinma
Amadi Tony Uchenna
Amadi Wina Ifeoma
Amadife Chisom Judith
Amadu Samsom Ojo
Amaechi Chukwuemeka Marinus
Amaechi Esomonu Rmanus
Amaechi Roseline Chinyere
Amaechina Uju
Amafule Innocent Emeka
Amah Rosemary Nkolika
Amah Willis Timipre
Amah-boniface Emelda Ozioma
Amaihian Samuel Odemore
Amaji Chiaka Anthony
Amajuoyi-agwunedu Ijeoma A. Ijeuru
Amako Ngozi Francesca
Amakor Bede Obioma
Amakor Hilary Nwoke
Amakwe Chidi Clement
Amaliechi Anthony Ikechukwu
Amanah David Timimene
Amanamba Chisom Uzoamaka
Amanambu Chimezie Mr. & Mrs
Amanchukwu Ikenna
Amangbo Mary Unoma
Amangbo Samuel Ikechukwu
Amankwe Charles Chukwuenweniw E
Amanze Ekanem Juliana
Amao Dimeji
Amao Oladiran Olubukola
Amazing Grace Private School
Ambah Olamide Adeola
Ambali Aishat Doyin
Ambaliadeola Wasiu
Ambi Anyy
Ambo Danladi
Ambrose Jummai
Amechi Benedict Adiele
Amede Oghenetega Naomi
Amedu Dauda
Amedu Inusa Lucky
Ameh Charles Anawo
Ameh Godswill
Ameh Ocheche Andrew
Ameh Titus Eneojo
Ameriwho Margaret
Amina Mohammed Baba Yola
Amina Muhammad Yusuf
Aminu Aliyu Kurami
Aminu Abu
Aminu Azizah Mojiyinola
Aminu Bello Mubarak
Aminu Dutse Hafsat
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080
2081
2082
2083
2084
2085
2086
2087
2088
2089
2090
2091
2092
2093
2094
2095
2096
2097
2098
2099
2100
2101
2102
2103
2104
2105
2106
2107
2108
20556
215143
120143
20571
212238
20581
209474
20606
20647
231760
20627
20632
20657
20658
20674
20688
20709
20714
20715
212806
20737
20743
20752
20760
225581
20792
20818
20840
20841
20850
20852
20857
20858
209046
20896
20914
20920
20931
224089
20940
20950
20961
110548
20974
20979
205934
121170
21033
21034
21044
21053
116778
21066
21071
215458
21090
221898
117886
21120
21137
21173
20202
21204
122463
116660
21228
21252
21256
5385
57992
44759
57980
24268
20773
39842
89863
104583
44745
57989
44752
102176
57998
44777
30117
49413
43457
39846
25009
39848
58032
96254
96260
90421
58053
25800
99843
49415
58075
58077
58081
58082
32577
38050
58103
25804
28186
30121
32579
49418
58121
58128
32581
58132
58151
58152
20778
58154
58155
18197
20779
44778
20783
58170
20789
102186
20792
25012
20799
58192
1918
58194
20803
20804
20805
58204
58205
2109
2110
2111
2112
2113
2114
2115
2116
2117
2118
2119
2120
2121
2122
2123
2124
2125
2126
2127
2128
2129
2130
2131
2132
2133
2134
2135
2136
2137
2138
2139
2140
2141
2142
2143
2144
2145
2146
2147
2148
2149
2150
2151
2152
2153
2154
2155
2156
2157
2158
2159
2160
2161
2162
2163
2164
2165
2166
2167
2168
2169
2170
2171
2172
2173
2174
2175
2176
21257
21294
21321
21329
21335
21360
21385
211667
21390
21401
212760
208920
21411
123939
21444
21463
209705
21469
21488
21494
21500
21503
21535
205446
21541
21548
21562
122547
224696
123549
21586
21591
21601
21612
21615
121747
21636
21641
21645
228993
21661
21675
217282
124532
21718
21730
230308
212318
21763
21766
21771
21778
21795
209016
21810
21825
21845
21871
222284
21889
21891
21897
21899
21904
21946
21932
21933
21940
58206
9463
58223
25015
25808
32591
58232
89173
28188
20807
58239
30137
58237
20808
30138
20812
20816
58251
96283
58259
25810
20818
39873
99853
96286
32601
30144
58284
38052
58285
89174
20821
58290
58298
38053
58301
58311
30153
18209
20833
28194
30158
58327
58335
32614
105119
58351
30166
58359
58360
58363
58368
25816
30171
32617
30173
58401
32622
58415
20844
20846
58424
99858
32626
13748
13736
13737
13743
Aminu Halima Ibrahim Kofa
Aminu Ibrahim Bolaji
Aminu Idris
Aminu Mahadi Ahmed
Aminu Mohammed Suraka
Aminu Muhammad Murtala
Aminu Munayatu
Aminu Safiya Sahiba
Aminu Sakina
Aminu Sani Sani
Aminu Yunusa
Aminu Zara
Amiolemen Richard Aimiewan-u
Amiolemen Rosemary Omare S. Ra
Ammed Aminu Abubakar
Amobi Ifeoma Phina
Amodu Adamson Olalekan
Amodu Amina Rachel
Amodu Amos Tijani
Amogbonjaye Abdulazeez
Amoka Irmiya Samson
Amokeodo Rufus Oluwafemi
Amole Benjamen Bioye
Amole Oyeyemi Ramota
Amoo Kazeem Olanrewaju
Amoo Mulikat Owoola
Amorighoye Darnley Oshof
Amos Samson Chila
Amosa Sanusi Babatunde
Amosu Olatunde George
Amosu Oluwaseyi Durojaiye
Amosun Noah Oyebande
Amosun Sunday Adefemi
Amu Agatha Nkechi
Amuchie Chika Paulin
Amuda Isiaka
Amuda Saidat Oyinade
Amuju Suleman Oziobanyi
Amuka Amaechi Nnamdi
Amuna Sunday Samuel
Amupitan Lennox Kehinde
Amusa Ganiatu Abiola
Amusa Ganiyu Abolore
Amusa Sulemon Babatunde
Amusan Adebimpe Mariam
Amuzat Rasaq Lekan
Amuze Christopher Osayande
Amuzie Iloegbunam Peter
Amuzie Nnadozie Joseph
Amzat Titiloye
Anaba Iweadighiuru Alex Ifeanyi
Anabareonye Ifeoma
Anadu Shaaibu
Anadueme Emmanuel Chukwuma
Anaele Sonitus Ekwutos
Anaenyeonu Nnamdi Ikechukwu
Anagbogu Emeka Nestor
Anaguih Calistus Ikechukwu
Anagwe Bishung Augustine Sunday
Anakebeh Moses Nkachukwu
Anamelechi Okechukwu
Ananaba Nwayisunday Violet
Ananenu Vivien
Ananti Ikechukwu Madike
Ananwa Chidi Anthony
Ananwude Phoebe Uche
Anas Abdulmajid
Anas Fatimah
About Us
Anas Hafsat
Anazodo Daniel Chukwuemeka
Andah Onimisi Mulumba
Andem Grace Andy
Andrawus Kezia
Andrew Yohanna
Anebi Anyebe
Anefu Ejembi
Anegbe Sylvanus Amhanogho
Aneke Chimaobi Hyacinth
Aneke Christian Anayochukwu
Aneke Emmanuel Chukwuemeka
Aneke Joyce Chinonye
Anekwe Raphael Zelibe
Anele Uchenna Young
Anene Grace Ego
Anene Jane Obiageli
Anene Nkiruka Eucharia
Aneni Ehimen Chima
Anenih Ebose Blessing
Anesah Ebibebefiede Edwin
Anetoh Chidozie Leonard
Ango Peter
Angyu Comfort Mbosire
Ani Amobi Cresent
Ani Chinwuba Anthony
Ani Gabriel Etiti
Ani Monisola Olufunlayo - Imf
Ani Precious D
Ani Udoka Morgan
Ani Ugochukwu
Aniagoh Edwin Obiora
Anibaba Dupe Rashidat
Anibi Olaide Afusat
Aniche Ikenna Chiedozie
Anidobi Uchechukwu
Aniedobe Michael Okechukwu
Anieke Silvanus Okenna
Aniekwe Wilfred Uchechukwu
Anielo Ebenezer Ikechukwu
Aniemena Ngozi Phillipa
Aniewe Chika Bonaventure
Anifowose Joel
Anigbashim Egbaga David
Anigbogu Kypra Anigbogu
Anih Chika
Anikpe Ozo Hope
Anikwe Nneka Obiageli
Animasaun Ademola
Animashaun Abdulkabir-belko
Animashaun Ismaila Adebayo
Animashaun Mutiat Adeola
Animba Godfrey
Anioma Frank
Anionwu Felix Osita
Aniugbo Roseline Chinasa
Anjolaiya Ganiyu Agbolade
Ankwedel Nitte Yila
Annam Funto Otolorin
Anochie Chinyere Henrietta
Anochie Christian Ndubisi
Anodu Chimereze Nnamdi
Anogu Christopher Ig
Anoke Emmanuel
Anonyai & Anonyai Associates
Anonyai Anthony
Anonyai Arusu
Anonyai Henrietia
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
2177
2178
2179
2180
2181
2182
2183
2184
2185
2186
2187
2188
2189
2190
2191
2192
2193
2194
2195
2196
2197
2198
2199
2200
2201
2202
2203
2204
2205
2206
2207
2208
2209
2210
2211
2212
2213
2214
2215
2216
2217
2218
2219
2220
2221
2222
2223
2224
2225
2226
2227
2228
2229
2230
2231
2232
2233
2234
2235
2236
2237
2238
2239
2240
2241
2242
2243
2244
21978
21983
21994
21998
22001
22007
22021
121913
22039
22042
22050
22070
22078
208648
217733
22088
22110
232251
121513
22129
113888
22182
22183
22195
22199
216392
22242
123863
22250
22261
212660
22276
211947
22285
22293
208090
219371
22308
22311
22321
22323
22329
120940
22384
22387
113667
22396
22410
22412
22431
22447
22460
22464
22465
113520
22486
22487
22512
22545
215941
210188
208707
22574
227540
22588
22589
205664
22602
58441
32628
20862
58445
58446
30174
58454
102199
58461
58462
25020
25820
38063
18214
38065
58477
20873
30176
32633
20875
27807
20879
30181
28199
30183
18217
58515
18218
32635
25825
58524
30189
58525
18220
18221
58567
102208
32636
32637
58537
58538
18225
32644
20890
38075
58576
32642
18232
58565
18234
27808
30194
20898
44792
96297
20899
20900
104873
102213
58638
32653
30196
58646
105253
58653
58654
58655
58658
2245
2246
2247
2248
2249
2250
2251
2252
2253
2254
2255
2256
2257
2258
2259
2260
2261
2262
2263
2264
2265
2266
2267
2268
2269
2270
2271
2272
2273
2274
2275
2276
2277
2278
2279
2280
2281
2282
2283
2284
2285
2286
2287
2288
2289
2290
2291
2292
2293
2294
2295
2296
2297
2298
2299
2300
2301
2302
2303
2304
2305
2306
2307
2308
2309
2310
2311
2312
22603
22641
22654
231575
219799
222622
219603
22700
22704
113181
22734
205559
22799
22812
22838
214888
22934
22941
22953
22975
23017
23025
23041
23042
23088
23118
23130
23151
23178
23196
23214
23221
112731
227648
23241
120952
23263
23264
23265
23269
23281
23290
23299
211141
23315
219098
215951
23351
117699
23392
23402
224093
23488
23490
23496
23517
23536
23553
114877
23596
23679
23680
23684
23708
23725
23727
23742
23750
58659
32656
20904
58684
28201
11180
32657
27810
91751
58707
19523
58714
32665
58743
58753
58781
58794
25837
18237
58814
29726
25840
58841
58842
18239
58872
58881
91770
44795
94136
90443
5784
58960
91773
96339
58965
58976
58978
58979
43465
102227
99886
58996
59013
29729
59017
59026
59027
59045
25846
28210
59056
99891
59057
30206
28215
23878
90448
59091
25852
96350
96351
13772
96354
32703
59137
25856
59147
Anosike Eric Ikenna
Anosike Lilian Odochi
Anowai Ugonna Arinze
Anozie Ben Dabirichukwu
Anozie Cletus Chimezie
Anozie Joy Uchechukwu
Antagio Ventures
Anthony Blessing
Anthony Linus Onyeji
Anthony Samson Oghenerozo
Antia Christiana Inyang
Anufa Pedro Omoefe
Anugom Uzoma.k.
Anugwa Henry C.
Anukem Vitalis Chimezie
Anukua Charles Uzochukwu
Anunihu Lawrence Uwakwe
Anuniru Uchechukwu Moses
Anunobi Chinyere Lilian
Anusiem Chidi Christopher
Anwara Helen Ejimoleh
Anyachor Ferdinand Uzochukwu
Anyachor Oscar Chima
Anyaegbu Maureen
Anyaegbu Pamela Onyinyechukwu
Anyaeriuba Ezesinachi Chima
Anyakudo Phllips
Anyalebechi Augustine Uchechi
Anyalewechi Israel Okey
Anyali Tevin Chifum
Anyanaebechi Uzochukwu Samuel
Anyanechi Ejike Ireneaus
Anyanechi Ijeoma Christiana
Anyanso Helen Nwanganga
Anyanwu Adaku
Anyanwu Akudo Akundu
Anyanwu Caroline
Anyanwu Chidi R
Anyanwu Chiemezie Claire
Anyanwu Chisa
Anyanwu Christian Chidiebube
Anyanwu David Omeziri Maduabu Chi
Anyanwu Henry Alagbaoso N.
Anyanwu Onyeka Chinedu Emmanu El
Anyanwu Peter Chukwuemeka
Anyanwu Sabina Aku
Anyanwu Samuel Ezedinachi
Anyanwu Ugochukwu Obidike
Anyanwu Victor Ikenna
Anyaso Anyaso Onyekachi
Anyi Emeka Sampson
Anyichie Angela Ogechukwu
Anyijiofor Franca Uche
Anyika Allbright
Anyikwa Cosmas Chukwudi
Anyoha Chimchetaram Adaeze
Anyoha Chukwudalu Angel
Apake Matakhi Ebenezer
Apata Omotola Olamide
Apeh Boniface
Apeh Margaret Eteme
Apeh Matthew B. C
Apeyo-mathew Francisca Jennifer
Apoe Kennedy Folorunso Mabel Ebun
Apollo Queen Tangson
Apollos Acheseomie
Apologun Chris Pendo
Apples Investment Ltd
ANNUAL REPORT
2014
Apresai Doubra
Arabi Zuhriya Amina Idrees
Araka Chiweta Onuora
Aramide Moshood Ademide
Aranmude Omonzee Maria
Araromi Tola Timothy
Arasah Dauda Yunusa
Arasomwan Osasu Peter
Arawole Mrs Olabisi Olubunmi
Arayomi Joseph Oladeinde
Ardo Maryam Yahya
Are Moroof
Aremu Adenike Elizabeth Olu Wato
Aremu Babajide Adedayo & O. Olabimpe
Aremu Josephine Yemi
Areo Tolulope Ayodeji
Arewa Sylvester Agbonlahor
Arhamerene Juliana Nkonye
Ariama Victor Eme
Aribilola Aribilola James
Arije Mary Olubunmi
Arikoro Samuel Oghenekevwe
Arimoro Joy Naomi
Arimoro Omotayo
Arisa Chikezie
Ariyibi Eunice Omolara
Ariyo Aderogba Olusola
Ariyo Peter Kehinde
Armiyau Abdullahi
Arobieke Regina Ifeolu
Arogundade Fatai Kehinde
Arogundade Olatomiwa
Arogundade Olutoyin Shonibare
Arogundade Rapharl Ademola
Aroh Magdalene Chimezie
Aroh Ugonwa Nnenna
Aroloye Philip Adesoji
Aroluwayin Marion Feyishade
Aromashodu Abimbola
Aromeh Godwin Wilson
Arong Vincent Aidams
Arosantin John Olufemi
Arowobusoye Akinlabi Ignatius
Arowolo Ajoke Funmilayo
Arowolo Kehinde Ayodeji
Arowolo Rafat Ayoka
Aroworowon Idiat
Arowosafe Susan Jagundina
Arthur-worrey Iquo Henshaw
Arubasa Ajevuawa
Aruku Amurade Samuel
Aruwayo-obe Kiishi
Asabe Barri Monday Asabe
Asabor Isiuwa Ayo
Asadu Chinweike
Asaka Marcus Erhamwonyi
Asanya Ikechukwu Asanya
Asebiomo Olusola Samuel
Asekun Topeyemi
Asemota Magdalene
Ashagidigbi Mobayoji Oluwatoni
Ashagidigbi Oluwanifemi Mariam
Ashaju Julius Babatope
Ashaye Awujoola Olamide
Ashgar Umar Zanna
Ashi Awele Cynthia
Ashima Tuoyo
Ashimole Chidinma Joy
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
2313
2314
2315
2316
2317
2318
2319
2320
2321
2322
2323
2324
2325
2326
2327
2328
2329
2330
2331
2332
2333
2334
2335
2336
2337
2338
2339
2340
2341
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2343
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2363
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2365
2366
2367
2368
2369
2370
2371
2372
2373
2374
2375
2376
2377
2378
2379
2380
114423
219074
230509
124715
23862
23863
23864
23889
23891
23899
23902
223162
23925
24010
23954
231499
23956
23960
23963
23985
24019
24020
24022
24024
116953
24039
24042
225582
24049
24053
24059
24095
24097
24111
24116
24125
24151
24154
213958
230872
213764
24270
232056
24280
124722
24327
24330
24332
24358
24365
24374
24377
223375
213485
24381
24398
24413
24427
24435
112995
24443
24462
24467
24471
24491
24494
24498
24505
59148
32704
59158
105120
59196
59197
59198
32709
91797
39934
32710
25029
102245
59223
20924
30211
32717
59236
59237
32718
94150
91802
28231
28232
32721
19526
59267
59269
59273
102249
20083
59288
24282
25861
25862
94151
94152
59301
32735
32737
25035
59348
91810
23881
96380
59379
59380
59381
59395
59400
32739
59405
32740
59415
59407
25871
32742
30217
89183
30220
102257
32747
105122
5816
18245
102259
59451
18246
2381
2382
2383
2384
2385
2386
2387
2388
2389
2390
2391
2392
2393
2394
2395
2396
2397
2398
2399
2400
2401
2402
2403
2404
2405
2406
2407
2408
2409
2410
2411
2412
2413
2414
2415
2416
2417
2418
2419
2420
2421
2422
2423
2424
2425
2426
2427
2428
2429
2430
2431
2432
2433
2434
2435
2436
2437
2438
2439
2440
2441
2442
2443
2444
2445
2446
2447
2448
24514
24518
24538
24540
212737
118609
24549
24556
24573
24584
24594
24600
24617
209848
214967
24637
231070
217485
24682
24687
24695
24699
210353
24704
123313
24761
224860
215311
24801
24812
24815
24817
24831
24835
232461
24848
24852
24857
209019
24864
113278
219011
220128
24892
24893
24894
24920
24926
24928
115820
24944
228551
24978
24980
24995
25001
122869
25005
25025
25071
118275
25123
25126
25135
25144
213347
25160
25161
99911
59460
32749
91818
32750
32752
32753
48491
89185
89871
59475
89872
32760
32765
32766
43474
32768
44815
59495
37643
59499
39970
32772
32770
32773
59505
38089
99922
59516
44846
25043
25886
28246
32776
28248
59524
99926
28249
25889
20933
59530
59538
32777
102266
94157
59542
59552
59556
59558
59560
59567
59572
59587
59588
59596
59599
59602
39994
59608
59633
59654
59662
32784
59664
59668
59676
59679
59680
Ashinze Caroline Ngozi
Ashiofu Amaka
Ashiru Mary Iyanuoluwa
Asho Kabiru Tsafe
Asiemo Cindy Ijata
Asiemo Frank Ejiro Ogene
Asiemo Raymond Ogale
Asikogu Suzan Chinedu
Asimi Mohammed Jamiu
Asimolowo Akinboyejo
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Asinya Ekom Ese
Asita Onisoduenyiya P.
Asiuloka Daniel
Asogwa Uchenna
Asogwa Wilfred Obinna
Asogwa Yirginia Nkeiruka
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Asoluka Solomon Austin
Asough Nguavese
Asubiojo Oluwatoyin Temitope
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Atiku Patrick
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Atilola Iyabo Debby
Atim Grace Kgwua
Ativie Ajibola Julie
Atobasire Adeyemin Olasunbo
Atobatele Aderonke Opeyemi
Atobatele Ayodeji Oluseyi
Atolagbe Kolawole Yusuf
Atolani Abosede Adejoke
Atoyebi Abdulhakeem
Atoyebi Atinuke Abosede
Atoyebi Ayofe Oluwafemi
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Atoyebi Kehinde Jones
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Atta Azmira Martha
Attah Eunice Adaobi
Attah Kedono Davis
Attah Lovetta Ifesinachi
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Attahiru Anita Asabe
Attahiru Malami Yabo
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Atuboyedia-obianime Tamunosipiribi Esther
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About Us
Atukum Mallem Rifkatu
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Awonaya Idowu Anthony
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ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
2449
2450
2451
2452
2453
2454
2455
2456
2457
2458
2459
2460
2461
2462
2463
2464
2465
2466
2467
2468
2469
2470
2471
2472
2473
2474
2475
2476
2477
2478
2479
2480
2481
2482
2483
2484
2485
2486
2487
2488
2489
2490
2491
2492
2493
2494
2495
2496
2497
2498
2499
2500
2501
2502
2503
2504
2505
2506
2507
2508
2509
2510
2511
2512
2513
2514
2515
2516
25188
25197
25207
120172
25230
223137
25245
25249
25257
25262
25270
25275
25286
25312
25316
25317
25318
25328
108279
216935
25365
25366
25372
25380
25436
25442
25448
25449
25451
25452
225258
220331
25475
25483
207210
25516
25518
205453
25537
25547
25560
119733
25571
25579
25593
25605
25626
25627
25629
25633
208467
25665
25686
25702
25712
25716
25721
25726
25738
25757
25804
25806
207817
25821
25882
25883
25898
25899
59692
96412
94165
59713
59714
59722
59728
99929
94167
59738
59740
40001
99930
96420
59764
23890
59765
91846
59778
44849
59788
59789
28253
32791
59843
59845
59847
59848
59850
59851
59854
59855
59867
91848
91850
59883
28256
59885
91853
59890
59893
59895
32798
59904
59909
59910
59915
28257
59916
59918
30224
59936
94179
59951
59955
102282
96459
59958
59963
59969
32807
90470
24806
59999
23895
60021
32810
60028
2517
2518
2519
2520
2521
2522
2523
2524
2525
2526
2527
2528
2529
2530
2531
2532
2533
2534
2535
2536
2537
2538
2539
2540
2541
2542
2543
2544
2545
2546
2547
2548
2549
2550
2551
2552
2553
2554
2555
2556
2557
2558
2559
2560
2561
2562
2563
2564
2565
2566
2567
2568
2569
2570
2571
2572
2573
2574
2575
2576
2577
2578
2579
2580
2581
2582
2583
2584
25904
223244
25947
25949
25956
25964
214482
25982
228392
26018
26022
26034
26082
26084
26095
26103
26145
26117
220976
26176
26187
26202
124411
26207
213141
223600
26310
213997
26347
26320
26331
26346
26368
26432
26391
26398
221008
26402
26404
26407
26418
229735
123409
206813
26434
26435
26441
26458
26456
26463
221001
205467
26522
26533
206350
26558
26574
26577
225072
26578
226292
26601
26618
26621
119951
26626
26645
26663
60033
96471
94185
89875
32812
28261
96478
60053
60067
60068
28262
60077
60103
60104
60111
60114
94189
96491
60131
60136
60140
96494
60168
94190
60169
104593
40015
25906
99940
89876
32823
89190
99941
60225
60209
60213
60234
60216
60217
60218
96512
94194
60236
30227
28263
25908
60238
32828
60239
49477
20942
18254
13789
60259
60263
40024
27
20948
60273
38092
60279
60287
60291
38095
40025
60296
102289
32840
Awonuga Ibikunle Oladipo
Awopejo Tolulope
Awopileda Olubunmi
Awosan Monisola
Awosanya Jimmy Olusesan
Awosanya Oladimeji Opeyemi
Awosika Babatunde Oluwasegun
Awosika Olakanmi Samuel
Awosiyan Titus Oluwagbemiga
Awosope Eunice Kunnuade
Awotiwon Emiloju Olowoeribi
Awotoye Adewale Adetunji
Awotunde Peter Olaniyi
Awoyemi Adetayo Olumide
Awoyemi Eniola Opeyemi
Awoyemi Funmilayo
Awoyemi Johnson Bankole
Awoyemi Olutayo Samuel
Awoyinfa Obadurotimi Obafun Mllo
Awuhe Alexis Alueshuma
Awulor Edith Oseremekhian
Awulu Charity Ojonugwa
Awure David Abiodun
Awuya Moses Ekom
Ayabina Tamarapreye Rose
Ayagi Ibrahim Lurwan
Ayalogu Chike
Ayalogu Chukwunonso
Ayalogu Nebolisa
Ayalogu Obianuju
Ayalomhe Isaac Oshioaguwe
Ayanbadejo John Olugbemisola
Ayandeji Mudasiru Bola
Ayandipe Bolanle Omolara
Ayankoya Atolani (mrs)
Ayanlaja Stephen Adewale
Ayanlere Onohoomen Omuekpen
Ayanleye Oluwakemi Amudat
Ayannuga Stella Oluwatosin Abo Sede
Ayansina Lateef Ayoade
Ayantoye Idowu Sunday
Ayanu Olusegun Charles
Ayanyemi Julius Olufemi
Ayara Momodu Ali
Ayebamieye Ebi Blessing
Ayedun-aluma Victor And Bridget
Ayekun Ifedolapo Adenike
Ayela - Vhangue Osazoduwa Osasieme
Ayelabola Aderonke Stella
Ayelagbe Samuel Adekunle
Ayemere Franklyn E.
Ayeni Bolanle Mary
Ayeni Islamiyat Olusola
Ayeni Micheal
Ayeni Oladimeji
Ayeni Olamilekan Abiodun
Ayeni Olatunde Abubakar
Ayeni Olubunmi Yewande
Ayeni Oluwapelumi Oluwadami Lare
Ayeni Titilola
Ayewoh Ignatius Oriarewo
Ayeye Emily Faderera
Ayibaware Investment Company Ltd
Ayide Christiana Iguoma
Ayinde Olatunji Tajudeen
Ayinde Olayinka Bolanle
Ayinde-yakub Safuriat Olasumbo
Ayininuola Oluwasola Oluwaseyifu Nmi
ANNUAL REPORT
2014
Ayinla Adeleke
Ayinla Ola Samson
Ayisire Eseoghene
Ayitogo Danjuma Onyapa Ahmed
Ayo Idowu
Ayo Mike Udieguome
Ayoade Abosede Olu
Ayoade Fatai Aderemi
Ayobanjo Adeseye Oke
Ayobanjo Oladunni Juliet
Ayodeji Abosede Deborah
Ayodeji Fehintola Ojuolape
Ayodele Ayodeji Simeon Oladip Upo
Ayodele Ayomide Solomon Olaji De
Ayodele Elizabeth Adeyoyin
Ayodele Gideon Taiwo
Ayodele Mojeed Adeniyi
Ayodele Olabamidele Ayodeji
Ayodele Timothy Oludare Sunday
Ayomide John Oke
Ayonrinde Abimbola Atinuke
Ayoola Dorcas Kikelomo
Ayoola Folabi A
Ayoola Folasade Ibidunni
Ayoola Toluwalashe
Ayuba Andesati
Ayuba Asmau Tukur
Ayuba Danladi Magajinzo
Ayuba Dauda Lydia
Ayuba Grace Wado
Ayuba Mriza John
Ayuba Zainab Yusuf
Azeaku Plang Faith
Azeez Aishat Akua
Azeez Kamardeen Adekunle
Azeez Moronke
Azeez Nafiu Olayiwola
Azeez Nafiu Olayiwola
Azeez Obafemi Hakeem
Azeez Olatubosun Abdulsamiu
Azeez Saliu Adewole
Azeez Sariyat
Azegba Peter Onyebuchi
Azegba Jude Chukwudi
Azegbeobor Joachim Oseigbe
Azeke Edirin Disi Doris
Azenabor Ehidiamen Rolland
Azi Nyako Igbarak
Azi Solomon Elue
Aziegbemi Mike Imandaye
Azike Florence Nwadaubu
Azodo Uchechukwu
Azodo Victor Obi
Azoro Perpetua Chijiagor
Azubike Ikechukwu
Azubuike Boniface Okemefula
Azubuike Innocent Utonwanne
Azubuike Joseph Chijindu
Azubuike Kamsi Jessica
Azubuike Maudline Ngozi
Azuh Nkadi
Azuka Uche
Azunna Uzunma
Azuoma Kenneth Chukwudi
Azuonye Cecilia Ann Soibi
Azurunna Helen Chidinma
Baah George Wuwu
Baba Armiyau Umaru
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
2585
2586
2587
2588
2589
2590
2591
2592
2593
2594
2595
2596
2597
2598
2599
2600
2601
2602
2603
2604
2605
2606
2607
2608
2609
2610
2611
2612
2613
2614
2615
2616
2617
2618
2619
2620
2621
2622
2623
2624
2625
2626
2627
2628
2629
2630
2631
2632
2633
2634
2635
2636
2637
2638
2639
2640
2641
2642
2643
2644
2645
2646
2647
2648
2649
2650
2651
2652
26667
207793
26674
26686
26690
26708
218893
26737
26761
216195
26780
26789
26794
26796
26802
26821
26834
26860
26914
26922
227024
26937
26950
123627
26977
26979
27013
27016
230188
116755
27028
211359
27041
27042
224442
27048
27059
27072
232058
220306
231468
27117
27128
27142
210659
27168
218078
27198
27205
27208
210143
227959
27220
27242
27244
27259
110867
120699
116786
214372
214168
112715
27356
219617
214117
27375
27382
27389
44864
40033
44866
23408
104878
44870
43488
32856
60321
60329
102290
40038
25049
44882
44887
32861
60342
60356
102292
96536
60376
102293
102294
60412
49479
102295
40049
96548
60419
60426
49485
60434
94207
60435
91878
60439
40051
91879
60451
60487
60466
60474
60490
32873
60508
96559
60509
29
60517
60519
60527
48499
44917
44922
24292
44927
60556
96567
60563
60593
60597
60598
60586
96573
60601
60592
102298
60607
2653
2654
2655
2656
2657
2658
2659
2660
2661
2662
2663
2664
2665
2666
2667
2668
2669
2670
2671
2672
2673
2674
2675
2676
2677
2678
2679
2680
2681
2682
2683
2684
2685
2686
2687
2688
2689
2690
2691
2692
2693
2694
2695
2696
2697
2698
2699
2700
2701
2702
2703
2704
2705
2706
2707
2708
2709
2710
2711
2712
2713
2714
2715
2716
2717
2718
2719
2720
27395
27396
27398
220625
27452
232166
27475
27526
121336
27553
27554
27559
27567
27576
218066
27619
27634
222630
27660
27669
27673
27680
27688
222962
27696
27728
27806
27743
27763
27771
27818
27779
27820
27852
27857
27888
122861
27896
27902
116684
27936
27937
27954
205557
27972
114465
124342
115099
28012
28013
28031
28071
28075
28077
28089
28195
28108
122850
28116
28119
28132
113321
28143
28152
28157
28164
207044
28203
60610
60611
60613
32888
89878
32890
60626
32897
60706
32899
60656
60661
60666
13794
60710
60693
60697
60711
60716
32905
32907
23416
32909
60720
32910
44957
44976
32913
40087
44965
11010
40090
44980
40101
32927
60743
60876
60744
60748
60878
32930
32931
32932
60882
60779
60883
60884
102304
60797
60798
49500
96603
60828
60830
60836
60894
60840
60900
60844
60847
60852
60906
60857
60859
104596
89882
60914
32937
Baba Badariya Baba
Baba Bukar
Baba Daibat
Baba Kabir Mohammed
Baba Martins Jatau
Baba Saidu
Baba Sunday
Baba Umar Hassan
Babafemi Olufemi Samuel
Babajide Lateef Folonsho
Babajide Obafemi
Babajo Alhaji Nuhu
Babakara Danladi Auwalu
Babakusa Hauwa
Babakusa Zaharau Nasidi
Babalola Abiodun Francis
Babalola Adesola Owolabi
Babalola Ebenezer
Babalola Olaniyi
Babalola Olayemi Oluyemisi
Babalola Olubukola Odunola
Babalola Oluwadamilola Omohik U
Babalola Praise Olorunfemi
Babalola Samiatu
Babalola Yekini Oyewumi
Babalola Yemisi Onaname
Babaoye Oluwatoyin Irene
Babarinde Akinropo Oladimeji
Babarinde Babatunde O
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About Us
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Corporate
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Governance
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Financial
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ANNUAL REPORT
2014
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
2721
2722
2723
2724
2725
2726
2727
2728
2729
2730
2731
2732
2733
2734
2735
2736
2737
2738
2739
2740
2741
2742
2743
2744
2745
2746
2747
2748
2749
2750
2751
2752
2753
2754
2755
2756
2757
2758
2759
2760
2761
2762
2763
2764
2765
2766
2767
2768
2769
2770
2771
2772
2773
2774
2775
2776
2777
2778
2779
2780
2781
2782
2783
2784
2785
2786
2787
2788
28207
28209
28217
28230
28232
28237
28257
28269
227041
28278
114831
28311
28323
28346
28347
28351
28365
28377
28387
28389
228001
223547
226974
28429
28430
28433
220078
28437
214331
28454
28461
28476
28477
28481
28503
28515
28524
28536
28541
28546
28551
28556
28557
28564
230568
28585
28602
28603
28611
28613
28627
113826
28642
28650
28658
116751
28680
207550
224443
28683
28697
28702
118078
118080
211567
209283
28729
28732
102305
32938
32940
60921
60923
60924
60931
60936
60941
60942
25050
60953
32943
45007
45008
60964
60969
60974
60976
94232
60979
60980
96622
60985
60986
60989
32946
11970
60992
60994
60999
32947
32948
99976
61011
61015
61021
61024
32951
61035
61038
61041
61042
61047
61055
91935
61069
61070
61073
61074
61079
91942
32952
6122
61102
28275
61112
61114
61113
61115
32955
23417
45015
45016
45017
48515
61119
61120
2789
2790
2791
2792
2793
2794
2795
2796
2797
2798
2799
2800
2801
2802
2803
2804
2805
2806
2807
2808
2809
2810
2811
2812
2813
2814
2815
2816
2817
2818
2819
2820
2821
2822
2823
2824
2825
2826
2827
2828
2829
2830
2831
2832
2833
2834
2835
2836
2837
2838
2839
2840
2841
2842
2843
2844
2845
2846
2847
2848
2849
2850
2851
2852
2853
2854
2855
2856
28750
28755
28777
28792
28804
28810
217298
28827
28829
28832
28850
28854
28902
124762
218850
28873
28882
221364
206756
28897
122242
28914
123176
28927
28934
28943
28945
112750
28946
28966
29045
220454
28988
120282
213822
29052
29065
29073
3774
215704
29081
29086
29099
29101
29165
218924
29153
29169
29164
29171
124630
29206
29209
211561
29264
210052
29276
29314
205766
29332
29343
237943
29350
29349
29371
29377
29378
29402
13403
32961
102313
61143
102319
32965
61154
105019
61157
40141
32967
45026
32972
61161
45040
96640
40151
45041
37665
32970
96641
61163
61171
61169
45043
61176
61177
32984
61178
61183
61203
25059
32979
32985
61208
32986
61212
48522
45045
100000
40158
37667
32989
23419
104605
100006
102328
105393
61217
104606
105020
91949
61228
18268
33000
61253
61256
33002
61372
40178
61268
105395
105396
61271
61275
89207
45064
61279
Balte Abdulahi
Bamai Basheer Idris
Bamanga Dahiru Ahmed
Bamgbade Falilulai Alani
Bamgbala Anjolaoluwa Opemipo
Bamgbala Moronke Olupero
Bamgbose Adesoji Omotayo Ohio Renu
Bamgbose Oyindamola Itunuoluwa Olo
Bamgboye Abigael Agboola
Bamgboye Bolaji Omolade
Bamgboye Victoria Omiyola
Bamidele Olufemi Joshua
Bamidele Sunday Gabriel
Bamigbaiye Asiat
Bamigbaiye Bolaji Kassim
Bamigbola Akeem Olayinka
Bamigboye Idowu Oladejo
Bamigboye Victor Oluyemi
Bamikole Mlchael Sunday
Bamimore Oluwaseyi Kikelomo Aj Ibol
Bamishe Olusegun Omotayo Mr
Bamishe Omotayo Olusegun
Bamkole Sophie Olusola
Bammeke Olatomiwa Mojola
Bammeke Rachel Olugbemileke
Bammodu Taiwo Olubunmi
Bamsa Dorcas Atinuke
Bamson Gladys
Bancorp Nominees Ltd. 'ijd’
Bancorp Nominees Ltd A/c Alb
Bancorp Nominees Ltd A/c Nal
Bandi Hassan
Bandi Musa
Bangkas Sunday Danladi
Banjo Adetora
Banjo Idowu Olusegun
Banjo Olufemi Afolabi
Banjo Taiwo Elijah
Banjoko Adebukonla Adeoti
Banjoko Bilikisu
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Banjoko Oludolapo Oladipupo
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Banjoko Oluwole
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Bankole Adebayo
Bankole Femi
Bankole Funlola Abiona
Bankole James Babatunde
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Bankole Philip Olatunde
Bankole Waheed Banji
Bankong Angela
Banmah Christiana Ayoka
Banye Ebuwa Henry
Banye Ekene Udoka
Banye Okeychukwu Kelvin Joseph
Banye-ukudolo Nwanne
Bappah Salihu Abubakar
Bara Yusuf Sule
Barau Danbatta Rummanatu
Barau Danbatta Suwaiba
Barau Kamilu Salisu
Barau Yusuf Ingawa
Barde Dantsoho Francis
Barde Maryam Asabe
ANNUAL REPORT
2014
Barkindo Aliyu Mustapha Jamilu
Barnabas Caleb
Baruwa Abdul-muhaymin Olatun Ji
Baruwa Hakeem & Halima
Baruwa Ramat Adunni
Baruwa Sylvester Nahum
Basco Services Nig. Ltd
Basharu Rahama
Basharu Sa'adatu Aminu
Basheri Bulus Danfulani
Bashir Ameer Shuaibu
Bashir Bello Gandu
Bashir K Umar
Bashir Maryam Mohammed
Bashir Mohammed Kabir
Bashir Morufat Abidemi
Bashir Naomi Bitrus
Bashir Tukur Bashir
Bashir Umar Kashere
Bashir Zainab
Bashiru Aremu Adeyemo
Bashiru Ganiyat Atinuke
Bashorun Oluwatoyin Ganiat
Bashorun Zulikhat Olubukunola Oluf
Baso Ahmed Adamu
Basse7 Glory Usoro
Basset Mr Okomon Ita
Bassey Rita E
Bassey Ada Uloma
Bassey Christiana Okon
Bassey David Ikpeme
Bassey Efiong Asuquo
Bassey Eno Okon
Bassey Udoh Essien
Bassey Victor Edet
Bassi Mercy Sule
Batna Mary Joy
Bature Abdullahi
Bature Adamu Yusuf
Bature Cecila Gyang
Bature Grace Yusuf
Bature Iliya
Bature Umar Abdullahi
Bature Usman Yuyu
Bawa - Abubakar Saadatu
Bawa Datoegoem
Bawa Rabi Melony
Bawa Sani Dutsin-ma
Bawa Usman Kaltungo
Bawa-abubakar Nadia
Bayero Mohammed Abubakar
Bayewu Olateju Olatunji
Baylee International Agency
Bebia Paul Osor
Beetseh Clement Nenge
Begho Thelma Anire
Bejide Olakunle Olutosin
Bello Abba Bayero
Bello Abdulganiyu
Bello Abdulrahaman
Bello Abike Adetutu
Bello Abubakar
Bello Abubakar
Bello Abubakar
Bello Afeez Abidemi
Bello Aisha Abbas
Bello Aisha Mohammed
Bello Amir Olaoluwa
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
2857
2858
2859
2860
2861
2862
2863
2864
2865
2866
2867
2868
2869
2870
2871
2872
2873
2874
2875
2876
2877
2878
2879
2880
2881
2882
2883
2884
2885
2886
2887
2888
2889
2890
2891
2892
2893
2894
2895
2896
2897
2898
2899
2900
2901
2902
2903
2904
2905
2906
2907
2908
2909
2910
2911
2912
2913
2914
2915
2916
2917
2918
2919
2920
2921
2922
2923
2924
225172
29426
29766
29442
29449
123925
221753
29465
29467
29482
124147
29484
29526
29533
29534
29538
29550
29574
29580
29588
217122
29595
29609
229316
111585
213022
29650
29674
29677
229845
29704
29716
211219
29739
29743
29787
29745
222883
29819
29849
29851
117343
29867
111940
29880
209266
214149
29888
223334
29912
29915
29919
207870
29920
29926
29928
29945
29948
112893
29959
29964
29966
29978
29982
224707
29995
29997
29998
40184
45068
61377
40187
61299
61379
61303
61304
61305
104610
45095
23422
61316
61319
33018
33019
23423
91959
45079
45080
49524
61329
20963
61332
61386
61388
33024
91961
96657
43507
61363
33026
43512
61369
61370
33041
33030
33042
19557
25932
61411
61413
61418
33044
61419
94236
25933
61420
61425
33045
61437
61440
105258
24305
61443
45108
61450
61452
61454
61455
13808
40225
61460
91968
33048
61462
90505
96666
2925
2926
2927
2928
2929
2930
2931
2932
2933
2934
2935
2936
2937
2938
2939
2940
2941
2942
2943
2944
2945
2946
2947
2948
2949
2950
2951
2952
2953
2954
2955
2956
2957
2958
2959
2960
2961
2962
2963
2964
2965
2966
2967
2968
2969
2970
2971
2972
2973
2974
2975
2976
2977
2978
2979
2980
2981
2982
2983
2984
2985
2986
2987
2988
2989
2990
2991
2992
30001
30002
121888
120945
209388
30081
220857
30115
30119
30122
30124
30130
30132
219477
30170
30207
205541
30240
30241
30267
30271
205960
30321
30342
217703
30359
30362
30365
30366
30370
30371
30372
30381
30392
30393
30424
30465
30482
30495
30499
30500
110701
30517
30524
30529
30532
30535
118119
30539
30580
221825
30591
30617
30653
30659
30662
30665
219284
30691
30692
30693
30694
224627
30695
30696
30707
229027
30741
33051
61464
90506
33
11985
25935
61502
33057
61508
100042
61510
61512
61513
45112
40232
61526
28290
61536
45121
61554
61557
40236
33070
40244
102358
61579
61580
13812
61582
61584
61585
61586
61589
96678
91976
61612
40253
61626
49531
61631
61632
90509
94249
61642
61648
61650
23903
33074
40256
38098
61667
29760
96700
25946
102366
61686
61688
33079
33080
33081
33082
61701
61700
61703
33083
61711
102371
102373
Bello Asiya Mohammed
Bello Baraatu Oyhman
Bello Bobbo Sutura
Bello David Eneye
Bello Ewere Patience Isi
Bello Ganiyu
Bello Garba
Bello Grace Omoyemi
Bello Hakeem Abiodun
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Bello Waleola Omoboyenle
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Bello Yar'adua Aisha
Bello Yunusa Avidime
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Bemi/D. S. Refinery Moses Bagale
Benakeyefe Simple Omolo B. Fe
Benard Bayo Friday David
Bendega Joseph Tardzua
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Benif Investments Nig. Ltd.
Benjamin Busuyi Abiodun
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Benjamin-ade Eniola Joseph
Benson Cecilia Augustine
Benson Ibilola Fehintola
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Benson Mojisola Omolola
Benson Monday Isaiah
Benson Shamusideen Adeniji
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Bernadetter Okere
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Bernard Obajana Cement Plc Ojo Cosmas
Berok O Peter Jacob
Best Practices Limited
Bestlink Investment Club
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Betiku Femisayo
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About Us
Betiku Temiwoluwa Monisola
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Bgl/augustine Kayode Kole James
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Bidemi Ogundipe
Bienonwu Bridget
Bigila Anthony Johnson
Bigwan Emmanuel Isa
Bikikoro Deriduduo
Bilawu Morufu Adekunle
Bilesanmi Abdulfatai Owoyemi
Bilikisu Dalhatu
Binchan Rabi Kundili
Biobaku Ikeolu Patricia
Bioseh Evelyn Esohe
Bisade-phillips Bmkola Rachael
Bisalah Sani Habibu
Bisiriyu Taofeek Popoola
Bissy-aluko David Babatunde
Bitiyong Phicomina S.
Blankson Tuoyo Doglas
Boadi Edith Onukuwe
Bob-manuel Awoye Halden
Bob-manuel Damiete
Bob-manuel Emi K
Bob-manuel Viola
Bob-manuel. Kaine
Boboye Adebola Oludamilola
Boboye Daniel Oluwadare
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Bodija(oyo)owolowo.cics
Bodunde Helen Aduke
Bola-akintobi Anthonia Yetunde
Bolaji Sadiat Bola
Bolanle Folake
Bolarin Olufemi
Bolarinde Moradeke Adunola
Bolarinde Mufutau
Bolarinwa Gbenga Blessing
Bolarinwa Olutoyin Janet
Bolarinwa Yetunde Risikat
Bolatito Oyinkan
Bolawa Israel Olawunmi
Bologo Aondover Simon
Bolori Yagana Bukar
Bolorunduro Oluseun Modupe
Bon-kafor Chioma Rachel
Borabis Nigeria Limited
Borisade Olanrewaju Michael
Bosede Augustine Olaiya
Bowewu Nig Ltd
Boyi Ifeola
Boyi Mohammad Bande
Boyle Esther Oluwafunmilayo
Bradford & Bingley Invest Ltd
Braimah Anna Enemona
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Braimah Jane Mawedo
Braimah Michael Arome
Braimah Bello Ebhomeana
Braimah Gloria Eleojo
Braimah Johnpaul Amana
Braimoh Matilda Oizuajeme
Briggs Belema Benita
Briggs Queen O
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
2993
2994
2995
2996
2997
2998
2999
3000
3001
3002
3003
3004
3005
3006
3007
3008
3009
3010
3011
3012
3013
3014
3015
3016
3017
3018
3019
3020
3021
3022
3023
3024
3025
3026
3027
3028
3029
3030
3031
3032
3033
3034
3035
3036
3037
3038
3039
3040
3041
3042
3043
3044
3045
3046
3047
3048
3049
3050
3051
3052
3053
3054
3055
3056
3057
3058
3059
3060
219869
30765
30773
30780
121075
225413
30812
30815
30818
30849
30824
30828
30835
30850
30884
30893
30974
206944
30984
30988
230091
219513
31029
31039
31040
120787
122546
31079
31085
225927
31092
208818
31111
216284
31209
31227
112197
31241
31242
31246
31248
215826
31296
31283
31286
221914
31292
31299
31343
111233
220804
31358
31372
220680
228190
31386
31387
213314
31466
31467
31482
222370
115799
31538
31543
228870
31604
31605
96703
102376
25065
18273
33086
61738
61740
19565
105021
33093
45126
61743
2044
33095
33097
24314
24325
96705
100087
91982
49537
96712
96709
61779
61780
34
33119
61799
100090
91989
45140
61805
33120
91993
61846
28296
23907
40296
40297
33123
102390
91994
89886
20981
40299
61862
96716
25953
61868
33128
38100
102395
61878
28297
61881
30237
33130
20987
33132
33133
33135
33137
61935
61939
61940
20997
18287
102409
3061
3062
3063
3064
3065
3066
3067
3068
3069
3070
3071
3072
3073
3074
3075
3076
3077
3078
3079
3080
3081
3082
3083
3084
3085
3086
3087
3088
3089
3090
3091
3092
3093
3094
3095
3096
3097
3098
3099
3100
3101
3102
3103
3104
3105
3106
3107
3108
3109
3110
3111
3112
3113
3114
3115
3116
3117
3118
3119
3120
3121
3122
3123
3124
3125
3126
3127
3128
219362
31614
31622
31633
31637
210838
31648
31651
31657
212641
31661
31667
31710
212711
216489
216490
31726
31757
31759
31778
31779
31780
31796
31811
31839
31840
31855
31856
214513
31860
217495
208596
31868
222994
31902
31903
31911
31925
31930
222265
115026
31934
31960
31964
31966
31967
31972
31980
31992
32027
211598
218982
32080
32081
226879
32117
32119
213057
216694
208459
32169
224200
116939
220604
32212
32225
230353
112747
21005
61963
25965
38106
61969
30247
21010
18290
28302
61977
61975
61980
33144
30252
30255
30256
100107
62005
25968
40308
62007
40309
38116
62014
18300
30262
100109
21029
25969
24334
33155
102415
33157
100115
62043
62044
13835
96721
62050
104886
62051
45155
62061
21032
33165
62064
62067
62071
18305
30264
30275
21038
100124
25974
21036
21037
30272
62118
62119
30278
21040
28304
21050
62129
62133
62138
62139
62142
Brotford Investments Ltd
Brown Cynihia Ibelema
Brown John Effiong
Brown Ndubuisi
Bruce Philomena Abosede Mrs
Buari Folorunsho Rahoof
Buari Teslimah Tolulope
Buba Adamu Ardo
Buba Alhaji Aliyu
Buba Godobe & Company
Buba Habiba
Buba Intelligence
Buba Musa Siam
Bubachoho Philimonbuba
Buhari As Sani
Bukar Gady Adam
Bulus Kaze Taazia
Bunu Makinta
Bunu Markus Mato
Buraimo Hubasir Olaitan
Buraimoh Omotayo Abiodun
Busari Babatunde S.
Busari Kabir Olajide
Busari Musa Bolaji
Busari Nurudeen Ajibola
Busari Olanitemi Olasunmade
Bwala Ladi
Bwala Shangazira Abdu
Byanyiko Dorothy Shekwoagami
C O Sobowale
C. Nwakire Emeka
Cactus Global Resources
Caleb Emmanuel Nom
Catholic Friendly Society
Catholic Youth Org. Of Nig. Lagos Prov Ince
Chaba Bino
Chagu Pius N.
Chaha Kwaghdoo
Chaha Tersen
Chamba M Susan
Chamberline Maureen Nnenna
Charin Dunamis Investment Limited
Charles Bala Azgaku
Charles Chukwudi Harrison
Charles Excellent
Charles Julius Effiong
Charles Kpeivioso Japhet Inio Luwa
Charles Okpom Lovinah Nnenna
Chetuya Raymond N O
Chia Deve Margaret
Chiagoro Gerald
Chiaha Obinna Leonard
Chiatula Onochie And.oliaku
Chiazor Rita
Chibogwu Michael Amedu
Chiboka Prince Ihechiluru
Chibor Anthony Onyekachi Ogu
Chibuikem Mauren Uchechukwu
Chidolue Michel Chetachukwu
Chidolue Sean Chidubem
Chiedozie S.obioma & Ijeoma D.
Chiejine George
Chiemeka Emanuella Oluwatamilore
Chieyine Dennis Chidozie
Chigbo Chike Paulinus
Chigbo Somtochukwu Anthony
Chike Emmanuel Onyinye
Chike Godswill Buduka
ANNUAL REPORT
2014
Chikendu Nneka.a.
Chike-nwosu Denzel Chisom
Chikeze Amechi Joseph
Chikezie Ogechi Alexander
Chikezie Ugonna George
Chikwelu Chizoba Stella
Chikwelu Obinna
Chikwem Obed Ndidika
Chikwendu Kingsley Uchenna
Chikwendu Levi
Chikwendu Veronica
Chilaka Uchenna Lewis
Chima-oduko Ibe
Chime Chinwe Julia
Chime Praise Chiagozie
Chime Samuel Okedinachi
Chimelie Joseph Chigozie Chime Zie
Chinaka Nweke Ogonnaya
Chinakwe James
Chindo Paul Sule
Chindo William
Chindo Yohanna Bako
Chinenye Izuchukwu Solomon
Chinweokwu Edith Ogochukwu
Chinyere Maxwell Ejike
Chinyere Ndukwe Ikea
Chirdan Oluwabunmi Oluwayemis I
Chirin Ado Saidu
Chiroma Barka
Chiroma Hadiza Ali
Chiroma M Hannatu
Chiroma Zanna Alhaji
Chirtau Nanko
Choji Gyang
Chokor Kpenu Hadassah Mary
Chokor Oghenerhijerheme Davi D
Chowdhury Masihul-huq
Christ Ambassador Society
Christ Peoples' Assembly
Christian Church Of Nig G.u Center
Christian Nwanneka Justin (mr & Mrs)
Christiana Sim Mathew
Chuchife Nigeria Limited
Chude Mofumanya Victor
Chugali Samson Omar
Chugb0 Cyril Isaac Okwudi
Chuka Chioma Eva
Chuk-chiejile William Chukwuwenike
Chukhuma Micheal Ethelbert
Chukwu Abraham Ifeanyi
Chukwu Felicia Chiebonam
Chukwu Gloria Chizimuzo
Chukwu Immaculeta Chinyere
Chukwu Jacob Patrick
Chukwu Lindline Odinaka
Chukwu Okechukwu
Chukwu Okorafor
Chukwuagozie Ijeoma
Chukwuanu Chidiebere Daniel
Chukwudebe Grace N.
Chukwudeme Lillian Chime
Chukwudi Enejere
Chukwueke Nnanna Malcolm
Chukwuekem Earnest Ifeanyichukwu
Chukwuemeka Ekene Martha
Chukwuemelie Sunday
Chukwuemerie Excel Emmanuel
Chukwujama Chidinma Leslie
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
3129
3130
3131
3132
3133
3134
3135
3136
3137
3138
3139
3140
3141
3142
3143
3144
3145
3146
3147
3148
3149
3150
3151
3152
3153
3154
3155
3156
3157
3158
3159
3160
3161
3162
3163
3164
3165
3166
3167
3168
3169
3170
3171
3172
3173
3174
3175
3176
3177
3178
3179
3180
3181
3182
3183
3184
3185
3186
3187
3188
3189
3190
3191
3192
3193
3194
3195
3196
32233
32234
32236
32242
228795
32254
208934
32288
32289
231800
32308
205699
224377
32345
32378
32388
218842
32407
205566
32425
32431
32432
32437
32465
32467
32469
32512
220799
214871
118191
32550
32564
32567
32568
207472
207170
32651
123708
223181
213396
216064
205753
208481
208071
211100
210731
226438
211068
216184
32718
207006
113280
32788
210061
32834
32846
32856
32865
32867
32896
218130
32915
32920
219980
32929
32948
117452
32974
62147
25978
62148
62151
28306
21058
18320
62165
62166
62170
21059
33183
62184
30284
62192
62194
102432
25070
62202
100131
62205
104617
62208
62211
62212
62213
62221
62222
33194
62264
33196
62242
62243
62244
62270
104618
62290
62293
100143
102441
62309
62310
62311
62313
62314
62315
62316
62318
18328
62331
33203
62336
30288
28309
33205
33208
33209
40325
100161
62382
62444
102446
49544
62448
89223
96732
33215
13853
3197
3198
3199
3200
3201
3202
3203
3204
3205
3206
3207
3208
3209
3210
3211
3212
3213
3214
3215
3216
3217
3218
3219
3220
3221
3222
3223
3224
3225
3226
3227
3228
3229
3230
3231
3232
3233
3234
3235
3236
3237
3238
3239
3240
3241
3242
3243
3244
3245
3246
3247
3248
3249
3250
3251
3252
3253
3254
3255
3256
3257
3258
3259
3260
3261
3262
3263
3264
32996
33006
33064
33068
33070
33085
207155
33098
33100
33150
33152
33122
33138
33142
33144
120425
33160
33161
33185
33194
33198
33201
33217
33223
33264
33276
33282
33299
218367
33353
33359
95050
220675
33400
33407
33415
33416
33421
33424
33436
33447
120996
33482
33557
33549
124625
33571
33587
124455
120478
33600
120480
33617
33630
124716
33649
33674
33678
33681
33694
32806
207161
33701
33703
33704
33708
232144
33710
62421
49545
40334
62456
62458
100172
45166
62466
96741
48548
40345
102450
89890
104620
45175
62471
90519
25990
62476
62480
90521
40356
33231
100180
21074
45187
40365
62499
100198
100204
20113
33247
45200
40373
62510
104623
45219
62511
62512
33250
45226
62542
62529
29768
100226
33256
18334
45231
45236
100233
62560
100235
105029
45241
105140
33262
37682
102461
13860
11657
33264
48551
33265
33266
33267
100242
30291
45262
Chukwuji Cynthia Ngozi
Chukwuji Martin
Chukwujike Patricia Ifeyinwa
Chukwuka Anthony Uche
Chukwuka Ernest Uzoetoh
Chukwuka Joseph Ifeanyichukwu
Chukwukaelo Uche Nnebuogu
Chukwulobe Makuochukwu Timothy
Chukwuma Adaeze Jennifer
Chukwuma Henry Obidiako
Chukwuma Joseph Chukwuemeka
Chukwuma Olisa Mathis
Chukwumerije Nkem
Chukwumerije Nnaedozie Chuby
Chukwunonyerem Ikechukwu Ezenwa
Chukwunyere Caroline Chidinma
Chukwurah Augustina Awele
Chukwurah Loveth Ugenyi
Chukwurah Pauline
Chumle Paul Nanpon
Chunwu Amaka Juliet
Church Of The Pentecost Ang. Com. SoKoto
Chuwang Mang Boyi Dung Benedict Ma Ng
Ciroma Aisha
Ciroma Hauwa
Ciroma Ibrahim
Cleaveteck Standard Limited
Clement Irene Onuikpo
Clement Ngando Emmanuel
Coker Abdul Rachid Babatunde
Coker Adedoyin Apinke
Coker Francis Olajide
Coker Iteoluwa Liberty
Coker Iyetomide Simon Oluse Yi
Coker R. Oluwatosin
Cole Victoria
Commander Farms & Agro Allie
Communication Information Technology
Conteh Aminata Amara
Cookey-gam Oroma
Core Media Services Limited
Cornerst Trustee A/c: Morenike M S.
Cornerst. Trustees A/c Krakue .c
Cornerstone Trustee A/c:olawuyi A
Cornerstone Trustee Edwin Aghedo
Cornerstone Trustee Raine G
Cornerstone Trustees A/c Titilayo O.
Cornerstone Trustees/adepoju Adeleke
Cottage Hospital Azumini Ltd
Crescon Projects Ltd Rc 656874
Crown Courts International Ltd
Csl Nominee A/c - 'bus1'
Cvik Global Concepts Limited
Dabder Justine N
Dabo Christopher S Philip
Dabo Rabi Murtala
Dabup Helen Edward
Dachollom Gyang Toje
Dachomo Pam Musa
Dada Azeez Oladayo
Dada Bola
Dada Fidelia
Dada Foluke Roseline
Dada Habeeb Olanrewaju
Dada Hadiza
Dada Margaret
Dada Olayinka Lizzy
Dada Olufunke Taiwo
About Us
Dada Oluwatoyin Muinat
Dada Philomena Modupe
Dadik Tong-jing Bibu
Dafa Sabo Z
Dafe Annbella Dupe
Dagap Philomena
Dagari Tasiu Abdulkadir
Dagunduro Adenike Morenike
Dagunouro James Adewusi
Dahiru Bindawa Bilkisu
Dahiru Danbaba Hadiza
Dahiru Dayyibah Mohammed
Dahiru Salihu Mshelizah
Dahiru Suwaiba Ahmed
Dahiru Umar Goran Duma
Dahunsi Isiaka Adeolu
Dahunsi Toyese Najeem
Daibo Gbubemi
Dairo Jumoke Biola
Dairo Victor Ademola
Daisi Olu Isaac
Daji Elisha
Dakugur Samuel Naanzwan
Dakwak Alpha John
Dalhatu Adamu
Dalhatu Mujitapha
Dalla Livinus
Dalyop Ishaku Dung
Damen Sophia Na'answan
Damulak Jessica Noemulak
Dan Nsikak
Danasabe Kassim
Danbala Iliasu Yahaya
Danborno Barnabas
Dandaba Lawan
Daneji Aminu Ibrahim
Daneji Anas Ishaq
Danesi Mustapha Abuja
Danfulani Gloria
Dangana Ishaku Geji
Dangote Rabi Muhammad
Daniel Aderonke Oluseyi
Daniel Amechi Abel
Daniel Danjuma David Danjuma Dajid
Daniel Ubong Thompson
Daniel Williams Chinoso
Daniels Kenechukwu Godswill
Danjuma Abbas
Danjuma Ahmad
Danjuma Aminat
Danjuma Haruna Muhammed
Danjuma Rabiat
Danjuma Sunday
Dankaka Nassar Sadisu
Dankande Bala Tsafe
Dankwah Kojo Vincent
Danladi Shehu
Danladi Timothy
Danladi Yaro
Danlami Amina
Danlami Halima
Danlami Musa
Danlami Yusuf
Danmadami Hauwa Mohammed
Danmadami Mohammad Nura
Dan-mallam Mustapha
Danmbaezue Tobechukwu Obinna
Danmudi Nura
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
3265
3266
3267
3268
3269
3270
3271
3272
3273
3274
3275
3276
3277
3278
3279
3280
3281
3282
3283
3284
3285
3286
3287
3288
3289
3290
3291
3292
3293
3294
3295
3296
3297
3298
3299
3300
3301
3302
3303
3304
3305
3306
3307
3308
3309
3310
3311
3312
3313
3314
3315
3316
3317
3318
3319
3320
3321
3322
3323
3324
3325
3326
3327
3328
3329
3330
3331
3332
122378
33712
33725
219600
33787
33791
33801
218322
33819
33822
209460
33837
33841
33856
33858
210206
33865
227964
33885
33918
33892
33903
33906
33931
33950
33987
34017
34026
34027
34040
34044
214166
34054
34056
34058
34121
34085
34090
34125
34105
34140
34149
29232
29108
34158
113005
34177
34178
34186
224899
222868
34206
34227
224071
226782
116902
34246
34257
34258
220469
34270
34283
34321
34329
34340
34344
34357
207424
48553
33268
62579
45264
100244
45287
62584
62592
23915
89894
62597
62598
48554
62606
62608
62635
62611
62617
40410
11419
29773
62630
94258
62646
49551
92034
23442
100261
100262
45296
33278
100264
100269
62679
62680
33284
62686
100272
40431
33282
33286
33288
33289
33290
33292
62708
62699
45320
62701
28318
96757
13863
37688
62712
62713
62716
62722
62730
62731
62737
62739
100287
92038
3587
62757
62759
24345
25996
3333
3334
3335
3336
3337
3338
3339
3340
3341
3342
3343
3344
3345
3346
3347
3348
3349
3350
3351
3352
3353
3354
3355
3356
3357
3358
3359
3360
3361
3362
3363
3364
3365
3366
3367
3368
3369
3370
3371
3372
3373
3374
3375
3376
3377
3378
3379
3380
3381
3382
3383
3384
3385
3386
3387
3388
3389
3390
3391
3392
3393
3394
3395
3396
3397
3398
3399
3400
209338
227614
34433
34435
217098
34439
221336
34449
232076
34456
215599
34486
217217
114938
207714
222266
34586
34601
34632
34624
34628
34652
34655
217779
34680
34691
228073
217453
34741
211546
34788
34794
206621
34811
34821
34843
34882
228749
34945
34971
34994
118341
35026
228750
35040
35042
35043
35044
35048
35051
112964
35068
35084
35085
111276
35170
35174
222271
35198
120358
35245
35259
35287
217069
116634
35316
35328
35329
102480
62792
33311
33312
62796
62800
33313
40446
24812
62811
62818
62831
28321
102484
62842
40450
62870
18337
25079
102491
45327
24347
62891
102493
38133
62902
26005
45328
38974
40456
62931
21084
100326
21086
33330
62949
62972
96772
21094
33337
62994
63007
90530
33340
63014
40468
40469
40470
63016
63019
63027
63029
30300
63039
104631
63089
45337
45338
63098
25082
100347
33353
24355
63113
96791
63118
63121
92057
Danmusa Idris Mamman
Danmusa Jamila Mohammed
Dansu Ezekiel Gbetogo
Dantanga Yahaya Shehu
Dantsoho Mohammed Sabitu
Danyaro Bashir Ibrahim
Danzuru Yusuf
Daodu Clement Aderinde
Dapap Delashik Datak
Dapar Rose Maxwell
Dapo-awosika Tinuola
Dapo-thomas Boladele Aderemi
Dara Ahmadu
Daramola Adeniyi
Daramola Adetokunbo Chinedum
Daramola Bayo Cornelius
Daramola Blessing Bimpe
Daramola Ibikunle O.
Daramola Olaoluwa Isaac
Daramola Oluwafemi Dennis
Daramola Oluwaseun Ebenezer
Daramola Sefiu Jide
Daramola Stella Okunlola
Darby Ene-ameh Mitchel
Dare Kollins Joshua
Dasaolu Comfort Adenike
Dass Yusufu Lumana
Dateba Malise Turba
Dateba Roseline Malise
Datti Adamu Danjummai
Datti Tijjani Mohammed
Dattijo Lamaran Makama
Datugun Paul Naankot
Datuowei Bodisere Deborah
Datuowei Helen Ebiere
Dauda Dr
Saleh
Dauda Ismaila
Dauda Margaret
Dauda Rose
Dauda Samaila
Dauke Peter John
Daura Buhari Mamman
Daura Hassan Mamman
Daura Husseini Mamman
Daura Rabia Mamman
David Agboola Oluwatobi Agbetuyi
David Alexander
David Asabe
David Felicia Bolajoko
David Newton
David Oladele Adeniyi
David Olamide
David Saul Framni
David Valor Ventures
David-akanbi Lanre
Davidson Innocent Ewean
Davies Ibidunni Abioye
Davies Oluwakemi Abiola
Davies Omobolaji Laolu
Davies-folorunso Tesleemah Oluwakemi
Davis Juliet Nnenna
Davou Yusuf Ali
Dawodu Joseph Olalekan Adeye Mi
Dawodu Muheez Olawale
Dawodu Taiwo Omolara
Dawodu Tolulope Yewawde
Daya Abdullahi Abdulkarim
Dede Fidelis Elonime
ANNUAL REPORT
2014
Dedua Clara Barinaadah
Dehinwa Adewunmi
Deji Adams St.david Oludare
Deji-adams Folasade Omolara
Deji-ayodele Aderinsola Anthony
Deji-folutile Olabisicomfort
Deki Ikechukwu Frank
Dekpe Iroro
Dekpen Nicholas Akpoganjo
Delano Oladeinde
Delano Oladeinde Oladapo
Dellan Engineering Services
Denedo Gabriel Ogba
Denni-fiberesima Dennisada
Denrysgold Nig Ltd.
Dewu Bala Bello Muhammad
Diayi Vivian Isioma
Dibia Kelechi Elizabeth
Dickson Udo Ezinne
Dickson Ethel
Dickson Okoro
Digil Halima Aliyu
Dije Bala Jibrin
Dike Charles Chizam
Dike Daniel Onyedikachi
Dike Eziako Grace
Dike Jude Chukwudi
Dike Onyekachi Owen
Dikki Samson Maliki
Dikko Aisha Ahmed
Dimaku Ikechukwu Innocent
Dimazoro Benjamin Chinonso
Dimlong Mary Patrick
Dimobika Obinna Innocent
Dingba Benedict
Dirisu Oladipupo Sikiru
Divine Grace
Dixon Richard Bamidele
Dofe Ikechukwu Vincent
Dogo Sat Suleiman
Doherty Atinuke Toyin
Dola Lami Fidelis Dolapo Mr
Dolapo Johnson A
Dole Muhammad Musa
Domingo Ibijoke Veronica
Dominic Daniel
Dominic David
Dominic Dougles
Dominic Lotechukwu
Dominic Ogbaji
Domos Dominici
Donatus Uweh
Dorsu Zion Eyewuoma
Dosa Bosede Arinola Senami
Dr Abubakar Sani Atta
Dr Adekoya Abimbola Adedoyin
Dr Murtala Ami Bayero Aminu
Dr Umar Umar Hassan
Dudu Itunu Comfort
Duke Orok Edem
Dung Jonathan Davou
Duniya Cecilia Isaac Dogo
Dunyanari Laraba
Duoboye Divine-favour Oyinua
Durodola Adesope Adekunle
Duro-emanuel Ibiola
Durojaiye Adewale Oluwole
Durojaiye Adisa Oluwa Seye
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
3401
3402
3403
3404
3405
3406
3407
3408
3409
3410
3411
3412
3413
3414
3415
3416
3417
3418
3419
3420
3421
3422
3423
3424
3425
3426
3427
3428
3429
3430
3431
3432
3433
3434
3435
3436
3437
3438
3439
3440
3441
3442
3443
3444
3445
3446
3447
3448
3449
3450
3451
3452
3453
3454
3455
3456
3457
3458
3459
3460
3461
3462
3463
3464
3465
3466
3467
3468
124105
35373
221350
35384
35386
218937
216003
35398
35407
35411
35418
121672
35441
35455
35496
35497
35499
35520
35523
35542
35543
35544
35559
232353
35565
35572
35622
35639
35640
221860
35657
214741
35683
35684
224286
35687
35737
35738
221403
35747
210276
124544
35772
35794
35824
217596
35851
110680
218650
35864
35881
35928
211406
35951
35981
120821
36014
217037
36030
36046
36047
121069
36079
36090
36091
46935
36104
36105
63134
28329
94277
92062
63148
92064
21100
63151
38140
21099
38142
63171
63164
102515
100362
13138
100363
102517
33362
33364
33365
33366
33367
21103
102521
23926
102526
63218
63219
30301
63222
63234
20127
13876
26025
24817
33380
26030
30302
21113
63260
63263
63267
102537
2112
63284
21117
63293
63296
26033
21119
30303
18361
21122
33390
89238
23931
28346
63351
37690
21125
30311
33400
20135
25087
63374
26040
63375
3469
3470
3471
3472
3473
3474
3475
3476
3477
3478
3479
3480
3481
3482
3483
3484
3485
3486
3487
3488
3489
3490
3491
3492
3493
3494
3495
3496
3497
3498
3499
3500
3501
3502
3503
3504
3505
3506
3507
3508
3509
3510
3511
3512
3513
3514
3515
3516
3517
3518
3519
3520
3521
3522
3523
3524
3525
3526
3527
3528
3529
3530
3531
3532
3533
3534
3535
3536
36107
36108
207146
214650
36123
36126
36136
112817
36138
117640
36161
215256
36209
36233
36246
36258
36261
36273
36278
36288
36289
36294
36313
36325
36341
36342
121751
36353
124962
36357
36364
36377
36415
36443
36444
36494
212585
36518
36519
36521
36536
116061
36563
120396
36582
36587
36620
36632
36633
36637
36639
36645
210132
210408
207048
36679
36680
36694
222502
36708
36698
209874
36714
36730
123730
36764
36765
210527
63376
63377
63379
105266
63383
33401
63390
63391
63393
63411
102555
26049
33405
26053
28354
33412
37691
28356
28358
28360
13887
63450
21127
28362
28364
20144
28366
40487
63460
28370
26063
63465
92073
28371
21129
33419
26068
33422
26072
26073
26076
63518
102572
33423
63533
63534
63545
20150
20151
30317
30318
28374
63559
96812
63573
26087
40492
26088
28375
63579
25102
92079
26090
92080
63591
18367
18368
33431
Durojaiye Oluwatoyin Adejoke
Durotimi Moses Folorunsho
Durotoye Olorunninsola Oye
Durowoju Akanbi
Durowoju Funmilola Abidemi
Durowoju Raubil Niyi& Folayemi I
Duru (sir) Kingsley Onyeabu
Duru Chidubem Martins
Duru Eberechukwu Linus
Duru Fabian Onyemauche
Duru Ikenna Chidolue
Duru Okechukwu Nwabugo
Duru Patricia Kelechi
Duruebube Cosmos Chimezie
Dzakma Falnyi Manasseh
Dzarma Hyelna'anda Manasseh
Dzarma Victor Manasseh
E2ennaka Rita Chinenye
Eagle Consultants & Managers Ltd
Ebalu Odufa Itohan
Ebalu Omoathefe Francis
Ebalu Omoathefe Osadebawen
Ebbi Audu Markus
Ebe Samuel
Ebecha Chidinma Endurance
Ebeh Sylvanus Endurance Aaron
Eberechi Nwalozie Aloysius
Ebhoaye Stella
Ebhodaghe Abel Omozojie
Ebhodaghe Michael Obeahon
Ebi Adejoke Adenike
Ebiega Anthony Adadu
Ebienang Charles Iyakndue
Ebiendele Pat E A
Ebieshuwa Omatsola
Ebifegha Pere
Ebiyaibo Sonny
Ebiye Onyibe Elvis
Ebizie Maritha Ogonnaya
Eboatu Ijeoma Lilian
Eboda Omolara Hawawu
Eboesomi Peter Oshiogbhe
Eboh Lucky
Eboka Azuka Jones
Ebong Nelson
Ebong Victoria Eno
Ebozue Ferenc Chibuzo
Ebri Blessing Ekaete
Ebuehi Tina
Ebufegha Ebieyi Veronique
Ebunilo Peter Udochukwu
Echedom Prince Chukwunonso
Echema Joe Ndubisi
Echendu Margaret Nwakaego (m Rs)
Echua Thomas Agbor
Ecwa Goodnews Church
Ede Moses Obiabo
Edebor Otabor Augustine
Edefiwotu Micheal Orhan
Edeh John
Edeh Joseph Chidozie
Edeh Ruth Chinwe
Edelduok Monica Samuel
Edem John Titus
Edem Joseph
Edema Efe Abel
Edema Felix Akpo
Edema Glory Omote
About Us
Edema Joseph Oghengwowue
Edema Josephine Oghenerow Erho
Edemadide Francisca Kugbere
Edeme Chinedu Gregory
Edemoh Princely
Edeoga Chijioke Jonathan
Ederaro Osagie
Ederhi Oke Henry
Ederuruaye Charles Degaulle
Edet Aniedi Effiong
Edet Etim
Edewor Edwin Esemuonaha
Edi Catherine Ntukal
Edijala James Karho
Edionwe Arasomwen Abednego
Edjereki Queenet Anne
Edmond Esmond
Edo Vero Bose
Edobor Gabriel Omobude
Edodo-eruaga Alero
Edogame Alfred Oshoakpeme
Edoghogho William Sylvester
Edoka Emmanuel Nnaemeka Cosmas
Edokpayi Felicia Ayodele
Edomwandagbon Taiwo Faith
Edon Imaobong Ben
Edo-ohonba Owen
Edori Gospel Simeon
Edosa Aghimien Ernest
Edosomwan Juliet
Edoye Nelson Uloma
Edoziem Didacus Onyema
Edumare Nwoo Ilisan Remo C.m.s Ltd
Eduwuirofo Chris Osayamen
Eduzor Chika Nwabuonu
Edzu Ibrahim Mohammed
Efedhoma Excellent Prince
Efeiong Edem James
Efejuku Emmanuel
Efekemo Robert Uruemuohwo
Efemuai Ovigwe Maurefn
Efere Enor Abori
Effeh Joseph Polycarp
Effik Victor
Effiong Antai Asuquo
Effiong Edak Mfon
Efiaoku Gilbert
Efiong Edidiong Patrick
Efiong Efiong Mary Bilfred
Efobi Francis Ezennia
Efobi Grace Nebechi
Efole Emornena
Efundipo Nurudeen Opeoluwa
Efunloye Moses Olusola
Efuwape Segun
Egajivwie Samson
Egamana Solomon Akpam
Egbe Augustina Ogochukwu
Egbe Christopher Aye
Egbe Daniella Oluwaseun Ey Ong
Egbe Emmanuel Ikaba Oko
Egbe Ngozi Nkiru
Egbeakhuele Andrew Okekhian
Egbedeyi Kehinde Aderonke
Egbeigwe Johnson
Egbeogu Edmund Agbo Oso
Egbeogu Emmanuel Agbo Ogo
Egbita Ojonimi Jude
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
3537
3538
3539
3540
3541
3542
3543
3544
3545
3546
3547
3548
3549
3550
3551
3552
3553
3554
3555
3556
3557
3558
3559
3560
3561
3562
3563
3564
3565
3566
3567
3568
3569
3570
3571
3572
3573
3574
3575
3576
3577
3578
3579
3580
3581
3582
3583
3584
3585
3586
3587
3588
3589
3590
3591
3592
3593
3594
3595
3596
3597
3598
3599
3600
3601
3602
3603
3604
36818
36833
36840
36877
224036
36885
36893
231205
117158
207565
36919
36921
36929
219340
212551
37005
37022
37061
37075
37081
37093
37095
37104
37106
37107
37117
37125
223201
37135
37144
37147
37151
37182
37204
37216
37232
37257
37282
37314
37316
37330
37339
37362
205925
37391
231076
37422
111255
37429
37438
37440
37467
37485
206728
37511
217207
37519
37523
37545
37556
37561
222529
214398
37580
37588
37599
37600
37603
28379
92085
33432
63632
63638
27822
63640
38159
63647
30326
102583
30327
33434
63662
63670
18374
63672
21160
45359
45362
92086
102590
63697
40497
33439
33440
63701
28388
26108
63705
26112
21165
21172
28396
104633
63726
33446
18380
104893
21174
21177
33457
63762
63766
63774
63795
63797
28409
28406
28410
26123
28417
63825
28420
26125
28423
92090
18386
33462
28428
26127
28429
33463
26129
26130
63872
63873
26131
3605
3606
3607
3608
3609
3610
3611
3612
3613
3614
3615
3616
3617
3618
3619
3620
3621
3622
3623
3624
3625
3626
3627
3628
3629
3630
3631
3632
3633
3634
3635
3636
3637
3638
3639
3640
3641
3642
3643
3644
3645
3646
3647
3648
3649
3650
3651
3652
3653
3654
3655
3656
3657
3658
3659
3660
3661
3662
3663
3664
3665
3666
3667
3668
3669
3670
3671
3672
37621
207462
37662
37684
228012
37701
37709
37714
37719
37758
37773
37777
37818
222216
37847
214036
37875
37876
67200
37892
211112
37912
206182
228753
37946
219175
208682
37982
37986
217029
38017
211166
38021
208704
231558
38054
38060
122388
38072
38079
214984
38091
227966
38108
38113
38115
38134
38136
38137
38140
38154
38159
38164
38169
220243
38187
38189
38257
38261
214468
38266
38270
38287
120355
38294
38306
221036
110794
26132
96832
21184
21185
30336
33472
63907
63912
21188
21190
38180
102611
26147
92093
20154
20160
102616
63961
63969
33481
18395
102617
63994
63988
38185
102625
64006
64012
64013
64023
64028
64029
21199
21202
21201
25112
18404
102636
102634
18405
102638
33488
64067
28439
64070
28440
102643
102645
25114
92097
33495
30344
100388
45375
33497
33498
25121
64109
26159
25138
25129
64111
102650
25140
33503
33505
64127
42
Egbo Betty Enyonanovwe
Egbo Mr Ukwodili Chukuu
Egbodor Angela Imeh
Egbonyi Patrick Amor
Egbu Livinus
Egbu Virginia Ngozi
Egbuche Isabella Kwene
Egbuchelem Nnamdi Jacob
Egbuiwe Augustine Ngozi Mfon
Egbuji Gerald Chinedu
Egbujor Nkechi
Egbujor Uchechi Linda
Egbukichi Oluchi Roseline
Egbuna Chiedozie Jideofor
Egbuson Elliott Enaemeaye
Egbuta Chinyere Otuu
Egede Christian Onyekachukw U
Egenti Chinyere Sabina
Egeonu Catherine
Egeonu John
Egerongbe Tijani Taiwo
Egerue Kingsley
Eghagha Aaron Okeroghene Ugoc Hukw
Eghaghe Christy Osadebamwen
Eghaghe Obianuju Ebelechukwu
Egharevba Micheal
Eghenayore Anthony Obazee
Eghonghon Theophilus Ikuenobe
Eghorieta Johnbull Arienrere
Egieyeh Robert Oluwadamilola
Egiliwe Ikechukwu Anthony
Egli Paul Ogbenjuwa
Egu Gloria Nneka
Eguavoen Esosa Abidemi Theresa
Eguke Odemine Sunday
Egunjimi Ayowale Oluwakayode
Egwa Emmanuel Adakole
Egwim Emeka Godspower
Egwu Sunday Okoh
Egwuagu Adaobi Augusta
Egwuatu Obiora Joseph
Egwu-bechi-association-abuja
Egwumba Ogechi Glory
Egwuonwu Nnama D Gunns
Ehebha Griffith Onus
Ehighibe Michael Orji
Ehigiamusoe Doris Anombekwue
Ehigiator Alex Friday
Ehigiator Esther
Ehigiegba Olive Osariemen
Ehiginwa Michael Chukwudi
Ehimen Ebehiremen Patricia
Ehimwenma Osaze Uyi Osaze Uyi
Ehiogie Patience Uwa
Ehiorobo Felix A.
Ehiorobo Helen
Ehirim Elearms
Ehirim Loveth Ngozi
Ehizokhale Christian Anenin
Ehrabor 0 Prosper Osabogie Prosper
Ehwarieme Vera Ena
Eigbojie Lucky Ehimonaraman
Eihebholo Humphrey
Eirewele Williams O
Ejaife Chisom Daniella
Ejebughaobi Kingsley Monday
Ejechi David Uwadia
Ejedafeta Ese Daniels
ANNUAL REPORT
2014
Ejekhile Felicia Odion Bridget I
Ejide Musibau Ipoola
Ejide Oliver Bright
Ejike Oguanyasi
Ejikeme Innocent Elodimuo
Ejila Comfort Owole
Ejima Simon Ndubuisi
Ejimchukwu Chichebem Christain
Ejimofor Sunday Okechukwu
Ejiofor Madu Justin
Ejiogu Kenneth Otuosorochi
Ejire Abee Raphael
Ejukonemu Eno Caroline
Ekam John Ntul
Ekanem Ben
Ekanem Emmanuel Felix
Ekanem Nsikan Nathan
Ekanem Ntiedo Asuquo
Ekanem-nesiama Mercy Mbom
Eke Agwaoma Joyce
Eke Daniel Dick
Eke Franka
Eke Grace Ifeoma
Eke Ojay Obasi
Ekeagwu Phina Agatha Ibe
Ekeanyanwu Innocent Ikechukwu
Ekechukwu Victor Obinna
Ekeh Anslem Uchenna
Ekeh Celestine Ikechukwu
Ekeh Joy Chinyeaka
Ekeji Olachi Clara
Ekejimbe Nonso Benjamin
Ekejimbe Victory
Ekekwe Chidozie Jasmah
Ekekwe Ignatius Ozoemena
Ekeng Aniekan Effiong
Ekenia Amarachi
Ekeocha Chibueze .e
Ekeocha Kaosisochukwu Tiffany Ony
Ekeoma Theresa Chinwe
Ekere George Ekere
Ekerendu Edet Antai
Eke-williams Patrick Nze (chief)
Ekhaesomhi Afiniki
Ekhaesomhi Salvation
Ekhameye James Sunday
Ekine Matthew Okpara
Ekine Stanley Sunday
Ekiogwu Kingsley
Ekisola Magret
Eko Teyojesam Sebastine
Ekoh Godfrey Agbonselobhor
Ekoja Folayemi Cecilia
Ekoja Oche Philip
Ekom Usman
Ekong Ekaete Jackson
Ekong Ekong Jeremiah
Ekpedure Felix
Ekpenisi Samson Bamidele
Ekpenyong Esien Nkana
Ekpenyong Augustine Okokon
Ekpenyong Chinwe
Ekpenyong Ubong Stephen
Ekpenyong Utibe Okon
Ekpete Magnus Ejiofor Ibe
Ekpo Bayo Akpan
Ekpo Efremfon Frank
Ekpo Monday Ekpo
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
3673
3674
3675
3676
3677
3678
3679
3680
3681
3682
3683
3684
3685
3686
3687
3688
3689
3690
3691
3692
3693
3694
3695
3696
3697
3698
3699
3700
3701
3702
3703
3704
3705
3706
3707
3708
3709
3710
3711
3712
3713
3714
3715
3716
3717
3718
3719
3720
3721
3722
3723
3724
3725
3726
3727
3728
3729
3730
3731
3732
3733
3734
3735
3736
3737
3738
3739
3740
38352
208344
38357
38364
38366
226049
38375
38379
38386
38398
38422
38430
221603
227488
38504
208001
38518
124131
38523
38549
220130
38532
38533
222085
38537
38540
38554
38555
38564
117972
38590
38594
121748
38620
227376
227967
38682
38686
219079
38699
38706
38722
38727
38737
38742
232034
38771
38773
38808
38827
38847
214315
227094
38878
38891
38892
38893
38895
38933
38954
38955
38956
38958
38962
38984
38988
38992
38995
28445
33508
27834
33509
30345
33510
90538
96839
28450
64148
64157
102661
64160
21207
21213
30350
30351
30352
64189
30353
38190
64194
64195
30354
64196
64198
38191
38192
21219
33525
33528
40524
45378
21220
64221
20188
64244
64247
64250
64256
30355
45380
33532
26166
64269
64283
33535
96851
64291
19615
64303
33542
21227
64316
21229
21230
33544
64321
33549
64344
33551
33552
33553
33554
26173
64350
33555
21232
3741
3742
3743
3744
3745
3746
3747
3748
3749
3750
3751
3752
3753
3754
3755
3756
3757
3758
3759
3760
3761
3762
3763
3764
3765
3766
3767
3768
3769
3770
3771
3772
3773
3774
3775
3776
3777
3778
3779
3780
3781
3782
3783
3784
3785
3786
3787
3788
3789
3790
3791
3792
3793
3794
3795
3796
3797
3798
3799
3800
3801
3802
3803
3804
3805
3806
3807
3808
39011
39052
39053
39055
39062
39063
39094
213360
39095
39098
215789
208602
219489
39142
39159
39172
39187
206937
39203
39214
39216
39236
39264
39288
224048
115947
39340
211325
39346
39352
39355
227440
39363
114137
113158
39380
39383
39384
221326
39405
39409
218704
228914
39443
221512
39446
39469
39481
209733
39495
39500
39503
39516
39517
39520
39528
39531
39533
112967
39546
39553
120309
39585
39589
39596
212497
39613
39614
33557
38201
64358
33561
33563
64364
18420
38204
64373
21238
64377
30365
64391
102686
102688
33569
30368
30369
18426
38211
64414
64424
33573
26190
102694
33577
64464
64498
90546
64469
64471
102695
64475
94294
64499
33579
64480
64481
33583
64488
102697
33585
18432
33586
33587
26196
26198
33589
64525
30371
64530
21255
33590
33591
28467
28471
26206
64540
64546
28472
92114
30375
33594
33595
30379
30381
26211
26212
Ekpu Theresa
Ekpunobi Edith Nwabogo
Ekpunobi Ikechwkwu Kanayo
Ekubo Kekechi
Ekuchey Mitcheli Nwankwo
Ekugo Kelechi Alexander
Ekun Abike Grace
Ekundare Fehintola Omotayo
Ekundayo Afe Omolola
Ekundayo Joseph Gbenga
Ekure Godwin Atebfia
Ekwe Innocent
Ekwe Jessie Nwanneka
Ekweli Emmanuel Chukwunyeaka
Ekwerekwu Harold Chiedu
Ekwo Henry
Ekwonu Patricia Ngozi
Ekwonye Esther Chika Ogwu
Ekwubiri Stanley Ihejierewunwa
Ekwueme Chinebu C Clement
Ekwueme Elizabeth Chinwe
Ekwueme Elizabeth Onwuenyiagb A
Ekwueme Fabian Anele
Ekwueme Ginika Queendaline
Ekwueme Irene Osarieme
Ekwueme Khrushchev Ugochukwu
Ekwulonu Raphael Ifeanyi
Ekwulonu Sanctus Chijioke
Ekwunife Francis Uchenna
Ekwuno Ifeanyinwa Gloria
Elah Owoicho Godwin
Elaigu Ojowugwa Attayi
Elder Ibrahim Hassan
Ele Grace Nkiruka
Eleah Godwin
Eleazar Samuel Ichulo
Elegbede Mussadiq Adesina
Elegbede Saheed Ishola
Elegbede Sefiu Alani
Elegide Ikenna Chris
Eleje Emeka Emmanuel
Elelleh Titus Clinton Chino Nye
Elemi Philomena Otuba
Elendu Kachikere
Elenitola Oluwafemi Sunday
Elewomawu Esther Odun
Elewoyori Femi Isreal
Elewuro Jubril Mobolaji
Elibe Martina
Elijah Promise
Elisha Yamtal
Ella Sandra Ene
Elobuike Osmond Onyedika
Eloebo Uchenna Anthony
Elomba Ngozi Theresa
Elosi Mary-rose Ifeoma
Elosili Ifeoma Felicia
Elosiuba Stephinie Kaodili
Elumeze Ogwashima Sylvester
Elvis-isi Idiakheua Franca
El-yakub Ameera Usman
El-yakub Asmau Usman
El-yakub Hassan Usman
El-yakub Nana-aisha Usman
Emakpor Ufuoma Bethel
Emalumhe Peter
Emarieru Moses Otobo
Emavwoyan Efeturi Mary
About Us
Emeana Geraldine Chinwe
Emecheta Emmanuel Chuks
Emechete
Emede Blessing Mary
Emefiele Sunday Okuoma
Emefiene Ahdrew Onyebigwu
Emejuiwe David
Emejulu Charles Obinna
Emejulu Obiemeka Paul
Emeka Barthlomen Obiora
Emeka Chike Emmanuel
Emelife Georgia Ngozi
Emelobe Samuel Chimezie
Emem Ubilevie Charles
Ememe Bernice Chinyere
Emengo Beatrice Nwando
Emenike Rita Obiageli
Emeoha Chima
Emerenini Benjamin
Emeronm Onyekachi
Emerson Marshall
Emeto Anthony Chidi
Emezue Nathaniel
Emili Benjamin
Emmanson Okon
Emmanual-seimodei Ebikaboere
Emmanuel Caleb
Emmanuel Chukwuma Samuel
Emmanuel Edet Ekpri
Emmanuel Eyinehi Victoria
Emmanuel Friday Nwamuo
Emmanuel George Lucky Gift
Emmanuel John Mathew
Emmanuel John Olufemi Sunday
Emmanuel Kingsley Chukwudi
Emmanuel Nelson Alika
Emmanuel Nicholas Jessu
Emmanuel Nimpher Ukamaka
Emmanuel Ogbajie Emmanuel
Emmanuel Randy Yakubu
Emmanuel Silas Orinate
Emmauel Christiana Remi
Emodi Chinyere & Augustine
Emoefe Grace Bruce
Emoefe Grace Bruce
Emojevwe Ogheneruona James
Emordi John Charles
Emovon Osamwonyi Kelvin
Empere Natasha Alaere
Emuchay Theophilus Usonwanne Jack
Emueze Goddy Ngozi
Emuka Emeka Virginus
Emuze Helen Osariemen
Emuze John Abieyuwa
Enaboifo Rosemary Osaremen
Enadeghe Majekodunmi Fred
Enaemo Oghenevwiroro Aaron
Enaholo Henry Oriasotie
Enahoro Rijan
Enaike John Oghenerhoro
Enakhimion Samuel
Ene Fidelis Umesie
Ene Gloria Ekanem
Ene Michael
Eneanya Ngozi Joyce
Eneasato Uzoamaka Loveth - Conrad
Enebeli Robinson & Rene
Enebeli Roseline Onyenibe
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
3809
3810
3811
3812
3813
3814
3815
3816
3817
3818
3819
3820
3821
3822
3823
3824
3825
3826
3827
3828
3829
3830
3831
3832
3833
3834
3835
3836
3837
3838
3839
3840
3841
3842
3843
3844
3845
3846
3847
3848
3849
3850
3851
3852
3853
3854
3855
3856
3857
3858
3859
3860
3861
3862
3863
3864
3865
3866
3867
3868
3869
3870
3871
3872
3873
3874
3875
3876
112829
39669
39681
39687
39709
39716
39720
39728
208837
39748
39753
39754
39756
39758
39763
39769
39770
218118
209509
39784
39805
39816
114170
39845
39855
219754
39873
225885
39904
39930
39944
225816
39957
39992
217959
40009
40022
40029
40030
40059
40069
40075
40082
40096
40099
40112
40119
40127
40148
215040
40165
40174
121932
40204
40207
40208
40212
40214
40215
224461
40220
40222
40236
40237
40262
40287
40305
216397
33603
102702
21260
33605
21266
30390
21268
28476
21270
26216
18436
18437
18439
18441
40540
33611
64609
30393
21272
33613
64618
64624
96867
102706
28481
19621
64639
64645
64647
102709
64657
64661
33629
18445
64683
18450
64693
100411
24373
38218
102715
26227
64713
64716
28493
64719
64722
28500
64730
28504
64735
64738
64745
64750
40546
64752
102720
28510
26243
28511
64756
64757
64762
26246
64772
96878
13934
26254
3877
3878
3879
3880
3881
3882
3883
3884
3885
3886
3887
3888
3889
3890
3891
3892
3893
3894
3895
3896
3897
3898
3899
3900
3901
3902
3903
3904
3905
3906
3907
3908
3909
3910
3911
3912
3913
3914
3915
3916
3917
3918
3919
3920
3921
3922
3923
3924
3925
3926
3927
3928
3929
3930
3931
3932
3933
3934
3935
3936
3937
3938
3939
3940
3941
3942
3943
3944
208505
40342
40351
40352
40359
40376
40389
209907
206384
40400
40413
119239
40446
40459
40461
40462
40466
40467
40481
40503
228681
40514
215670
40516
40560
40575
40594
15288
40616
40622
40627
221647
219697
40643
40656
110980
40666
228666
118392
40684
40749
40759
40816
40814
216891
218113
212962
40876
209022
40892
40917
212210
216593
216592
40935
206340
40936
40938
40942
40944
40954
213908
40959
40961
40976
40979
41006
41013
64791
64799
40552
40553
64805
64813
64815
64816
64817
64818
64823
64830
20203
26264
21284
64838
102731
25158
64845
64853
21289
26267
26268
30402
33650
102735
102739
28129
96884
64897
102749
20225
28522
105275
33655
28524
26272
102752
102753
49580
64925
25173
33663
102757
64960
64983
33668
20248
33669
20254
105277
33674
64999
65000
65004
65006
65007
65008
28526
65011
28529
65016
102761
18464
28532
65022
28539
26283
Eneh Quindalin Chinonyenun
Eneji Pius Onigah
Enem Nelson Obiora
Enemaku Ogu Sunday
Enemuo Samuel
Enemuo Uchenna Nneka
Enemuoh Simeon Chukwudi
Enemuoo Roy Tony Efetoboh
Enendu Adadiogo Favour
Eneogwe Ugoeze Nne
Eneoko Anthony Chidubem
Eneoko Chiamaka
Eneoko Evlyn Uzoechi
Eneoko Nnaemeka Collins
Enesi Jummai Fehintola
Enetomhe John Uloko
Enewally Peter Okwuegbunam
Eneye Constance Chinyere
Engineer Obijiofor Godwin Ejikeme
Eni Pauline Lami
Enigbokan Zane Tsolaye
Eniobamo Omolola Omoleye
Eniola Oluwatoyin Olajumoke`
Enobun Monday
Enoghama Magdalene
Enu Rita Ojong
Enu Steve Chinedum
Enughobi Chimezie Jessie
Enumah Omaka Maureen
Enwenaonu Stellamaris Nkechi
Enwerem Rosane Nnedi
Enwereuzor Wilson Wogu
Enworo Silas Behtrlce
Enyigord C.charles
Enyinnaya Christian C.
Enyioha Daniel Somtochukwu
Epemolu Adepeju Olalonpe
Ephraim Amamki Danladi
Ephraim Elizabeth Patrick
Erastus John Onyedika
Erekosima Inko Godfrey
Eremu Donaldson Ajoye
Eresanya Sunday Obayomi
Ereyomi Bamidele
Erhabor Enogieru Henry
Erhiahwe Frank Ifeanyi
Erhinyodavwe Olusola Ogheneroh
Erhunmwunse Peter Osas
Erikume Kenneth
Erimona Ellis Temi
Erinle Esther Aderemi
Erinne Ada Uche Ngozi
Eriyai Bolobowei Felix
Erogunaine Yetunde Helen
Eroje Isa Musah
Eroje Joyce
Eromon Abel
Eromonsele Friday
Eromonsele Olehiagbe Pius
Eromosele Juliet
Eromosele Ondsekhale Joseph
Eromosele Victor
Erua Shedrack Shegun
Eruanovwe Okpako Edwin
Eruosanyin Opeyemi Akinbayode
Esan Bolanle
Esan Olutope
Esangbedo Osayande Collins
ANNUAL REPORT
2014
Esanoluwa Anthony Bayo Caxton
Esedebe-governor Abraham Ekene
Eseigbe Oselumese
Eseigbe Oserieme
Eseka Elizabeth Ibukunola
Eselehaton Tuesday Edebhor
Esene Boniface Ehiabhi
Esewe Uwamusi
Esewhaye Richard Ovie
Esezobor Ronalda Olohitai
Eshiet Rhoda
Esi Felicia Owariobo
Esifa Harris Ben
Esimobi Christiana Christiana
Esimoneze Anthony Obiora
Esin Asuquo Edet
Esin Ronald Asuquo
Esio Okon Jack
Esisi Oritseweyimi Andrew
Esoimeme John Odiase
Esomonu Martins Ndibem
Esomu Ese Lilian
Esonanjor Winnie Anwulika
Esonwune Chinwendu Scholar
Essien Gabriel Effiong
Essien Joseph Michael
Essien Uduak Udondak
Estate Of Akin-akinlade Clara Ivbade
Estate Of Late Chief Akinlade Adejumo
Esther Baikie
Esu Asuquo Okon
Esua Okon Johnson
Esumeh Frederick Ikechukwu
Esuruoso Obafemi Adeniyi
Etang Ejen Alfred
Etchie Johnejuluwah
Eteghrara Oghenekaro Duke
Etela Ashford Owanate
Etetegwung Uriah Meniel
Etibeng Okon George
Etim Justin Anthony
Etim Sunday Edem
Etsu Ndagi Musa Awwal
Etsu Umar Edota
Etta Rita Ega
Etuk Emmanuel Jonah
Etuk Friday Johnson
Etuk Geraldineita
Etuk Ubon Emmanuel
Etukeno Eno Ben
Eubany Lorraine Adamma
Eugenia Ifeoma Agu
Evah Joseph
Evah Preye Josephine
Evbodaghe Flora
Evboren Dennis Oakhena
Evborokhai Promise Ebunuta
Evbota Raphael Oluwaseun Ose Mudi
Evbuomwan Bright
Evbuomwan Efosa
Eviebor Unuabona Ehidiamen Jeffery
Evoh Uchechi
Evuetapha Owhonigho Joy
Evuline Constance Onyekachi
Ewansiha Ekene Osahenruwan
Ewarawdh Kayode Abiodun
Ewemade Godday
Ewere Owhofasa
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
3945
3946
3947
3948
3949
3950
3951
3952
3953
3954
3955
3956
3957
3958
3959
3960
3961
3962
3963
3964
3965
3966
3967
3968
3969
3970
3971
3972
3973
3974
3975
3976
3977
3978
3979
3980
3981
3982
3983
3984
3985
3986
3987
3988
3989
3990
3991
3992
3993
3994
3995
3996
3997
3998
3999
4000
4001
4002
4003
4004
4005
4006
4007
4008
4009
4010
4011
4012
41014
41016
41023
41026
41035
215006
41051
41071
41083
41089
215856
41102
41107
41117
41124
41147
41167
41169
41174
41175
41184
41197
41199
124429
41201
41207
208133
41235
207809
41240
41243
124689
41260
41263
208706
41277
41281
41294
41355
210972
41306
41323
41325
117360
41371
211654
41379
212259
41419
41426
41428
41429
41441
41467
41452
41453
124956
213537
41494
41500
41503
41527
41548
41559
115085
41626
41565
41571
96890
40565
65040
13952
65042
65052
65046
65057
65061
25182
65064
33682
26287
65069
65073
65085
65093
33685
102773
65097
33686
102775
65104
65142
21295
18470
28545
21298
65148
65116
30414
65149
33690
33691
38226
30416
30417
30420
100427
38228
65130
33694
21307
30431
38231
21314
65165
38234
92143
65188
21322
27841
21327
21335
26299
21331
21336
65191
21343
65203
21345
65209
65220
65228
65230
33710
26302
23957
4013
4014
4015
4016
4017
4018
4019
4020
4021
4022
4023
4024
4025
4026
4027
4028
4029
4030
4031
4032
4033
4034
4035
4036
4037
4038
4039
4040
4041
4042
4043
4044
4045
4046
4047
4048
4049
4050
4051
4052
4053
4054
4055
4056
4057
4058
4059
4060
4061
4062
4063
4064
4065
4066
4067
4068
4069
4070
4071
4072
4073
4074
4075
4076
4077
4078
4079
4080
225315
231202
219855
41594
41597
219787
217649
41642
41644
41645
41647
41648
41649
41650
41659
41670
222533
41678
41679
41691
219887
35519
41724
118495
41745
208774
41815
41816
41827
41834
41849
119032
41852
41855
41860
230142
41881
222431
217867
41895
41900
217640
41912
41922
41927
41933
41934
41935
41937
41938
118721
223132
41947
41983
211155
41995
124598
42018
42019
42021
42023
42030
111136
42079
42088
42096
214745
42130
30439
30443
30447
65236
26303
21363
65251
33712
65255
8896
18479
18480
18481
18482
21367
18485
18486
65262
30453
65266
100436
65274
90563
65279
21385
21392
65302
30459
18495
65308
33720
21403
21404
21405
65317
65319
21415
65324
21418
21421
65330
21423
33723
21426
65338
33725
33726
33727
21429
30465
21430
21432
90564
65354
24386
65357
21451
21453
21454
100437
21456
28562
65386
65394
65395
89262
21474
65410
Ewereoke Nchedo
Ewesuedo Dorothy Bowie
Ewewie Andrew Ebehigha
Ewhenji Joseph A
Ewoneme Mathew
Ewumi Olufemi Adewale
Ewumi Ayoola Idowu
Ewuzie Ifeanyi Kingsley
Exotique Cakes
Eyafe Samson
Eyak Daniel
Eye Patience Okoro
Eyekomogba Okuiyborivkunerhe Chr Isto
Eyetsemitan Kingsley Oti
Eyinagho Isoken Martina
Eyo Edak Esua
Eyoansa Uduak Joshua
Eyong Arikpo Ibiang
Ezabilike Victor Blessing
Ezaga Efemaibuno
Eze Albert Akuma
Eze Azubike Okwudili
Eze Bryan-kingsley Ebere
Eze Casmir Ikechukwu
Eze Celestine Chukwuma
Eze Chinonye Divine
Eze Cleophas Azubuike
Eze Emmanuel Ikechukwu Ob Iora
Eze Eunice Oyibo
Eze Faith Uchechukwu
Eze Florence Nkechinyere
Eze Franca Paul
Eze Ifeyiawa Mercy
Eze Ijeoma Euphemia
Eze James Agwo
Eze Joy Chinyere
Eze Kenechukwu Charles
Eze Ngozi Lilian
Eze O James
Eze Ogechi
Eze Okechukwu
Eze Samuel Chibuzo
Eze Solomon Chibuike
Eze Vivinne Apollonia
Ezeagu Fortune Nchedo
Ezeagu Philomena Chimaoge
Ezeajugh Chinwuko Val
Ezealla Jerome Ugwoebulem
Ezeama Uche Jude
Ezeamaku Joseph Chukwudalu
Ezeamaku Obum Chukwuemeka
Ezeamalu Lawrence Obiefuna
Ezeani Bridget
Ezeani Chinelo Stella
Ezeani Jude Obinna
Ezeani Juliana Adaora
Ezeani Paul Obumneme
Ezeani Uzoamaka Gloria
Ezeanyika Kenechukwu Clement
Ezeayan Chineyere Osaremen
Ezeazuka Azubugwu Jp
Ezechidiebube Chinonso Cornelius
Ezediebube Violet Nwanneka
Ezegbolu Ann Ogugua
Ezegbunam Simon & Gertrude
Ezeh Uchenna M Uchenna Monday
Ezeh Agnes Chinwendu
Ezeh Blessing Agatha Ngozi
About Us
Ezeh Chika
Ezeh Emilia
Ezeh Emilia Nkechi
Ezeh Fredrick Ikechukwu
Ezeh Hilary Chukwuemeka Bi Shop
Ezeh Innocent Ihemeje
Ezeibe Elizabeth Obiageli
Ezeife-abengowe Fidelia Obianuju
Ezeifedi Maureen Chinenye
Ezeifeka Bibian Chijioke
Ezeigbo Ambrose Chinedu
Ezeigbo Anayo Cyprain
Ezeigbo Ejike Gabriel
Ezeigbo Emeka Hyacinth
Ezeigwe Steve Obinna
Ezeikpe Thomas
Ezeiloegbu Ikechukwu
Ezeiru Omelebere Florence
Ezeiru Onyekachi Elochukwu
Ezeji Kelechi Matthew
Ezekiel Danboyi Bot
Ezekiel Ladi
Ezekiel Oladele
Ezekwe Emmanuel Chiedu
Ezekwem Esther Nneka
Ezema John Chidi
Ezemobi Victor Chimuanya
Ezemoka Juliana Adaobi
Ezendiokwelu Bernard Chukwujekwu
Ezenduka Anthony Ifedigbo
Ezenma Ngozi Christophin
Ezennaka Anthony Obinna
Ezennia Crispina Chima
Ezennwa Valentine Anayochukwu
Ezenwa Agatha Chinenye
Ezenwa Chiamaka Augustina
Ezenwa Mmesoma Uchenna
Ezenwa Oliver I.
Ezenwa Wilson Chukwukaero
Ezenwafor Udoka
Ezenwajiaku Chike
Ezenwamma Augustina Ifeoma
Ezenwanne Nkiru Ann
Ezenwe Innocent
Ezenwosu Solomon Ndiuwakwe
Ezenwune Amarachi Lucymary
Ezenwune Emmanuel Chibuike
Ezenwune Valetino Chimaobim
Ezenyi Chibuko Reuben
Ezenyirioha Imelda Ekeoma
Ezeobi Felicita Uche
Ezeobi Mathew Anayo & Agatha Ugochi
Ezeobi Nwankwo Joel
Ezeoka Ikenna Trevor Chinweo Ke
Ezeoke Ernest
Ezeoke Juliana
Ezeokonkwo Okechukwu Franklin
Ezeomodo Bartholomew Azubuike
Ezeona Alphonsus Uwakwe
Ezeonu Ifeanyi
Ezeonuogu Uchechukwu Mmaduka
Ezeonyeikedi Toochukwu Kenneth
Ezetah Rejinald Chinedu
Ezeugwa Okwudili Christian
Ezeuka Sylvester Chukwuma
Ezeunara Emmanuel Chukwujekwu
Eziamaka John Ejikeme
Ezigbo Audrey Ndidiamaka
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
4081
4082
4083
4084
4085
4086
4087
4088
4089
4090
4091
4092
4093
4094
4095
4096
4097
4098
4099
4100
4101
4102
4103
4104
4105
4106
4107
4108
4109
4110
4111
4112
4113
4114
4115
4116
4117
4118
4119
4120
4121
4122
4123
4124
4125
4126
4127
4128
4129
4130
4131
4132
4133
4134
4135
4136
4137
4138
4139
4140
4141
4142
4143
4144
4145
4146
4147
4148
42147
214964
42183
42191
42199
42200
42209
116209
122871
42220
42231
42250
42258
226789
121386
230113
42284
42290
42294
213755
218572
42311
42313
42316
42323
42333
42336
42348
42358
42387
42409
42413
42414
225550
42455
42476
35522
42478
228720
42517
42522
42525
232110
42550
118787
42580
42595
228014
42604
42614
42630
42631
42656
207517
220627
42676
42688
42689
42695
42716
42747
42753
42754
42756
230797
42801
42817
42824
21478
30481
26312
21484
65429
28564
30482
45412
21486
18511
21488
65448
92149
49588
29787
105279
37697
65466
65468
65471
94301
92156
33744
19625
43551
65484
65485
65490
10525
96917
65509
96921
65511
65524
65525
65532
65533
40587
65537
102800
65550
65552
65558
33752
65572
96936
92173
94307
65580
65583
65591
29791
102802
65602
96945
90577
26318
26319
96946
65629
96950
29795
65645
65646
94314
65672
65681
65683
4149
4150
4151
4152
4153
4154
4155
4156
4157
4158
4159
4160
4161
4162
4163
4164
4165
4166
4167
4168
4169
4170
4171
4172
4173
4174
4175
4176
4177
4178
4179
4180
4181
4182
4183
4184
4185
4186
4187
4188
4189
4190
4191
4192
4193
4194
4195
4196
4197
4198
4199
4200
4201
4202
4203
4204
4205
4206
4207
4208
4209
4210
4211
4212
4213
4214
4215
4216
42917
226155
42986
42994
43005
229259
122056
43068
43089
43125
43135
43139
110575
43191
117986
43217
217091
43238
43281
43324
211238
43333
43336
43338
43343
209903
119930
43357
215898
43382
43383
43411
215398
43439
217237
43470
43474
43475
43477
230413
218014
43510
43512
43513
43530
43528
113275
43547
43549
43566
43572
43574
43577
43578
43587
43607
43645
43648
43649
43650
219803
43658
223635
43679
43678
43686
221798
43690
33760
65716
100444
102807
96964
100445
96970
96971
90589
65791
96977
65799
65805
65819
65828
65832
65839
105034
65856
65868
33765
65873
65874
65875
90599
49596
65876
23463
45422
96999
65880
65890
65903
65907
65917
40600
40602
40603
40605
33770
90603
13982
65932
65933
65940
65938
65956
65949
65950
65962
65967
97008
94332
65970
65973
65981
65999
66000
66001
66002
40608
23959
90605
90607
66009
66016
66018
92209
Ezike Chukwuma Chukwubueze
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ANNUAL REPORT
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S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
4217
4218
4219
4220
4221
4222
4223
4224
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4226
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4230
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4232
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43707
43714
213636
229327
205903
43750
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43807
43813
43816
43831
43839
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43844
220226
43870
43872
207422
43902
43943
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43967
43973
43995
228599
44002
44015
44018
44042
220052
44079
44115
111185
206791
44186
44197
44202
44207
44227
44234
230095
44242
225600
44250
44256
44272
44273
222937
44301
44306
44324
44329
44375
44416
44394
121893
44396
44400
44408
120849
44424
66021
66026
66027
92210
66036
66048
66053
66057
66059
66063
90610
66075
94352
66077
66089
66093
66095
66105
66110
33782
66114
66121
13984
92213
102814
102815
66162
66166
102820
66168
66175
33784
66178
28572
26324
33787
49601
26325
66291
102823
66305
92218
66317
26327
49603
66325
66330
66333
33792
66338
92225
66344
66352
89271
49605
66367
97049
100456
24390
66399
33800
40626
66417
40627
30485
40628
33801
102827
4285
4286
4287
4288
4289
4290
4291
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4293
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4295
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4297
4298
4299
4300
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4321
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4341
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4349
4350
4351
4352
44425
44434
44440
44485
44575
44579
44621
44562
44713
44738
44758
107099
44891
44931
44463
45985
45005
45074
45091
45110
45117
45210
45241
45263
45416
45426
45453
39871
95944
44563
45984
45534
45543
45553
45205
45565
45706
45726
45841
45843
45848
45867
45869
45873
45924
44507
45950
45955
45981
45997
46017
46018
46041
46085
46111
220643
46136
46146
46147
46160
46166
46216
46172
46174
215191
46191
46195
46196
30486
33805
26329
66445
66465
66466
66468
66471
66475
66476
66478
66480
66481
66483
66484
66485
66486
66487
66489
66492
66494
66498
66499
66501
66505
66506
66507
66508
66509
66510
66511
66513
66514
66515
66516
66517
66519
66520
66526
66527
66529
66532
66534
66536
66539
66540
66541
66542
18516
92232
100468
66547
66552
66569
33822
66579
104644
48574
45445
45448
21495
45461
45451
45452
40657
26331
66586
33833
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ANNUAL REPORT
2014
S/no
Acc. No
Warr. No Names
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Warr. No Names
4353
4354
4355
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4359
4360
4361
4362
4363
4364
4365
4366
4367
4368
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4370
4371
4372
4373
4374
4375
4376
4377
4378
4379
4380
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4382
4383
4384
4385
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4387
4388
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4390
4391
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4393
4394
4395
4396
4397
4398
4399
4400
4401
4402
4403
4404
4405
4406
4407
4408
4409
4410
4411
4412
4413
4414
4415
4416
4417
4418
4419
4420
219682
46221
46203
46210
46211
46214
46230
46239
225784
46258
214428
46292
46301
227036
46332
46347
46349
46352
46354
46357
221070
121495
122402
46393
207495
46410
46527
114693
46430
46436
46544
46474
219809
46489
46492
46495
219744
46509
222466
46568
228631
230317
46612
46615
46632
46641
46653
46677
46682
46683
46696
46697
215860
46740
46767
210222
46786
220920
46802
46820
46864
229949
223530
46895
213524
211911
119240
46923
45465
48577
66588
40654
33834
89907
66594
89279
26332
33843
19643
66605
92235
33848
37702
40667
21497
37705
33851
66621
45507
45508
66632
40670
92236
45485
45511
33865
45490
33858
24396
102844
66644
66626
23476
66627
33867
45503
38862
28576
33869
66663
66667
104648
45532
89286
97070
97078
66679
40689
66685
26337
97086
66711
66724
66728
97094
30489
33884
66740
33887
66760
26340
92247
66771
26341
26342
97102
4421
4422
4423
4424
4425
4426
4427
4428
4429
4430
4431
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46932
46936
120797
206890
46981
46993
46996
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47007
47022
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47034
47051
47059
47058
47064
211904
47079
216759
47092
47098
47112
47132
210621
47165
47167
214011
215563
212959
122203
47211
47222
47233
47239
215037
121252
47273
120435
47321
215952
47332
47336
47340
207381
47356
225753
47357
219215
47406
47407
47409
47410
47413
47417
215673
47276
47424
231084
208971
47458
47460
47467
47468
47472
47475
47476
47484
47506
18517
66786
49619
66820
66801
19645
66806
97106
66811
33896
66815
66828
45533
66833
89288
45537
28584
66843
40699
45539
40698
100510
66871
33906
66880
30491
66908
89909
66910
66915
97115
66898
97116
66903
66923
33911
33912
33913
23962
66945
66947
100521
66949
26346
66950
49627
13998
100530
33922
33923
33924
33925
33926
33928
66966
66967
102871
66975
66976
33934
100548
49629
33938
33939
26347
105284
102875
40716
Gambo Jamila Abdullahi
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Grant-oppan Christine
Green Nyemaichechi Ogonda
Grillo Salimat Temi Akande
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
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47518
220431
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206744
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211116
47642
111740
47657
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47698
232244
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214448
206647
213722
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228290
208190
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211290
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231804
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211683
47937
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217335
211311
47978
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47999
48029
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115806
48059
218378
48077
208657
48115
48153
67008
97129
33942
100553
33945
33947
67024
45554
45557
45560
33952
45563
67027
102877
33953
100565
100575
100570
67032
67041
104655
67043
40737
26351
45577
100584
30493
45580
67045
48599
33963
67048
48601
45593
45594
104658
45599
33967
23485
67053
102881
104660
94372
45605
33972
97132
89919
45610
45607
102882
45608
45612
24406
9224
67075
92262
45615
45624
102884
45630
92263
102885
48605
37722
23966
30494
89295
67118
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48160
206910
48202
48204
48207
123457
211383
48229
121475
48261
48278
48292
48293
48316
48323
123401
48334
48345
48356
48583
206646
226898
115449
48392
124428
212604
206870
48413
48419
48427
48432
48607
216000
48467
48473
48478
48489
48515
48536
48549
48631
229055
227288
48659
48673
48676
48694
48706
48721
111715
221608
48811
205779
48839
48852
222971
48868
48878
48896
48882
48903
48915
48916
48920
48925
123364
212361
33988
100592
38867
92266
33990
67127
40772
89296
105041
34002
104662
67139
45650
90635
45654
34003
105287
67147
40779
67152
45676
67195
40783
34023
40785
100601
19664
34025
6712
19662
67159
104904
92278
37736
40794
67166
67168
102896
67181
48608
100600
45685
34035
104683
67214
67221
37739
67225
67228
34039
67249
45694
45698
67272
48617
67285
67286
45703
34053
48624
45705
40831
25200
34056
11033
40833
34058
67305
Gtb/lead/delano Olugbemiga-trdg
Guar Paul Ebenezer
Gubio Zanna Dalatu
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Gundu Joy Member
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About Us
Haruna Abdulkadir
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I.j.i. Competent Ventures
Ibagere Harrison Daniel
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
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227334
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210946
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209667
122852
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123977
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20270
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92286
34062
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21529
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18539
38250
21530
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21534
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34072
102924
30503
21543
67390
40842
34075
102927
67423
89312
67424
67425
34078
49648
67428
102934
67449
67451
25203
18543
67469
49653
67476
67477
102943
21555
45851
49656
34087
92293
34090
67489
23504
19675
104687
45736
34094
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40858
67505
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216081
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119497
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116444
110910
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116839
121850
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50215
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209772
49873
49888
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50225
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214644
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226211
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210584
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221694
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124364
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206468
50382
50390
50404
34133
67573
67506
45750
102935
48632
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40864
25205
45767
25206
49672
49673
67513
45773
45775
45778
37752
45888
34113
24428
34148
45891
40876
40878
45896
67525
67526
45794
38872
34116
45797
48641
105155
40885
45803
67539
34125
67541
67583
40889
45900
67549
43577
21553
67551
45832
45833
48643
45834
45835
40898
45837
67557
48654
40904
23507
45916
34131
34158
67601
67602
21556
21557
21558
14023
34167
34169
Ibajegingbone Omojuwa
Ibanga Jackson Ibanga
Ibanga Uchechukwu Ime
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Ibikunle Hafeez Olajide
Ibikunle Kehinbe Bukola
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Ibikunle Oluwaseun Ayowole
Ibinaiye Paul Olorunntoba
Ibirongbe Theresa Adebimpe
Ibirongbe Tunde Moses
Ibitoye Oluremi Joshua
Ibitoye Temidayo Babatunde
Ibiwoye Adenike Olugbemi
Ibok Friday Akpan
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Ibraheem Ganiy Olowo
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Ibraheem Nigel
Ibrahim Abdullahi Alhaji
Ibrahim Shehu Fardiyyah
Ibrahim A. B. (92-1012)
Ibrahim Abdu
Ibrahim Abdul Zarewa
Ibrahim Abdul-hafiz Olamide
Ibrahim Abdullahi
Ibrahim Abdullahi Sagir
Ibrahim Abdullahi..
Ibrahim Abdulrashid Tanko
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Ibrahim Ahmed
ANNUAL REPORT
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Ibrahim Aishatu
Ibrahim Alhaji Mustapha
Ibrahim Alhassan Ibeto
Ibrahim Amina
Ibrahim Auwalu
Ibrahim Baraka
Ibrahim Danbazau Abba
Ibrahim Dina
Ibrahim Emmanuel Dogonyard
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Ibrahim Kyuka Avong
Ibrahim Ladiyo Abajigenent
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Ibrahim Latifat
Ibrahim Lawal Idris
Ibrahim Lawan B
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Ibrahim Muhammad Inuwa
Ibrahim Nancy
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Ibrahim Yahaya.
Ibrahim Zaki Sirajo
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Ibraim Olatunji Abdullateef
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Ican Lagos District Council
Icheke Christiana Nwuka
Icheke Jude Chukwunedu
Ichoku Joy Nkiruka
Idahosa Osabuohien Jeffrey
Idajor Gabriel
Idaminabo Goddy
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
4761
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4824
4825
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4828
50414
212211
50427
50431
50463
50473
50499
230584
50517
50554
219424
50577
50579
50606
216267
50612
50623
50630
50633
50637
210937
213630
50694
50840
50824
50846
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50848
50849
50850
50852
50853
50854
50855
50861
50873
50876
50897
50898
50902
50911
50913
50935
51025
50946
221076
215558
50968
50973
50975
51028
50987
50989
225083
218710
213215
50996
50998
51001
51002
51006
51010
51011
51037
51054
51059
51061
119197
67632
34172
34174
97168
28618
34176
23978
67647
28627
67660
40938
34180
26383
43585
67683
45923
40940
34187
34188
34189
26387
92319
92305
67765
67746
67778
67779
67780
67781
67782
34204
34205
34206
34207
45925
34208
23510
67788
89329
34209
40954
49675
67796
40967
21562
100632
23519
67801
34213
34214
67819
40959
67808
45942
67820
38875
23516
45945
48661
45946
67811
40963
38873
34220
67825
67828
27846
28639
4829
4830
4831
4832
4833
4834
4835
4836
4837
4838
4839
4840
4841
4842
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4850
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4859
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4885
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4888
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4891
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4895
4896
51096
215009
51138
51148
51217
51224
51234
51255
51274
51278
51281
51291
51311
51318
51319
51324
220772
51355
230153
51385
51386
51395
51396
51400
51406
51430
51450
227448
218648
51531
219590
51537
51540
118055
51552
51555
51562
51563
51564
51566
51571
51573
51578
51589
51601
209701
51626
51628
51631
207610
51643
51662
51687
51705
51707
51708
51712
219696
51720
51721
51727
206010
51745
51759
51768
51793
51797
51802
26394
94397
18548
21566
28654
40972
67853
67863
92330
102980
67868
21581
67877
67879
34228
26398
28659
67893
28660
28662
28663
26401
26402
30520
60
102986
28666
34230
67950
67955
21595
20279
30523
67958
21597
28684
21598
21599
28685
27849
21600
30524
21601
18558
67968
45960
18559
26417
26418
67996
34239
67988
26420
28691
28692
28693
26422
28696
26424
97209
26425
28699
28702
28704
34245
102994
28707
26428
Idanwekhai Foluke Omotayo
Idayat Bolanle Odunola
Ide Joseph Mwuese Doo
Idebuemi Gladys Ota
Idehen Sunny Ogbeide
Idemetor Ignatius Michael
Idenu Emmanuel Felix
Idewu Ivigenia
Idiagbonya Eddie
Idika-kalu Rosemary
Idiris Mohammed Hadiza
Idjagboro Segun Anthony
Idjerhe Ogheneruemu Prince
Idoko Benjamin Enema
Idoko Bethia
Idoko Emaikwu Michael
Idoko James Audu
Idoko Maryann
Idoko Ogwuche
Idoko Patrick Abi
Idonor Samuel
Idowu Abiodun Olasunkanmi
Idowu Ahmed Omokayode
Idowu Oladimeji Olusegun
Idowu Sunday Adetoye
Idowu-bello Ayodele Fatimat
Idowu-bello Ayomide Ibrahim
Idowu-bello Ayomijuwura Jamiu
Idowu-bello Ayotunde Sulaiman
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Idrees Halimatu Amal
Idrees Khalifa Abubakar
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Idris Abdulkadir
Idris Abubakar Babangida
Idris Abubakar Sadiq
Idris Babatunde Hakeem
Idris Bama Nma
Idris Bello Bello
Idris Fadilah A
Idris Fatima
Idris Kehinde Folasade
Idris Kurfi Abdulkadir
Idris Mansur
Idris Mohammed.
Idris Muhammad Habib
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Idris Nasiru
Idris Olakunle Amodu Idris Olakunle
Idris Ramatu
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Idris Salisu Ibrahim
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Idris Segun Ade
Idris Sulaiman
Idris Sule Ademoroti
Idris Sule Idris
Idris Tini Abeke
Idris Usman Aliyu
Idris Usman Bulama
Idris-uwais Maryam
Iduh Emmanuel O
Iduku Orezimena Samuel
Iduma Kenneth Enyita
Iduozee,joseph And Joan
About Us
Ifada Patrick Ighohwo
Ife Al-halaal Ventures
Ifeadi Francis Ikejiofor
Ifeaka Blessing Enyidiya
Ifebunso Thankgod Richard
Ifedi Sunday.o
Ifediora Ijeoma Jane
Ifekoya Ifeyemi Moshood
Ifenirepo Oluwatosin Ctcs
Ifenkwe Justus Nmereke Ogundu
Ifenna Donatus Emeodi
Ifeorah Justina Ijeoma
Ifesieh Gerald Ike
Ifezue Chiemenam Edith
Ifezue Chinelo Nkolika
Iffie Okomite Lawson
Ifijen Ohis Stephen
Ifudu Nkem Collete
Igbafe David Omokhafe .e.
Igbanibo Saluchi Tari
Igbanibo Tamara Jenebieware O Biaj
Igbasanmi Adekunle
Igbasanmi Mercy
Igbasi Vivian Nneka
Igbegbe Helen Oghenekome
Igbikiketima Tamunotonye Hutton
Igbinedion Dickson
Igbinosa Jackson Osaro
Igboanugo Paul Ejike
Igbodudu Oghenetega Dimimu
Igboekwe Mark Anthony
Igboekwe Julian Izundu
Igboelina Donald Onyeka
Igboenyesi Kingsley Chuks
Igboji Ezekiel Okechukwu
Igbojugha Jasmine Uju
Igboke David
Igboke David Main
Igboke Eunice Eberechi
Igboke Kingsley
Igboke Sunday Bathlomew
Igbokoyi Olusola Isaiah
Igbokwe Benjis Amaechi
Igbokwe Ezinne Chinonye
Igbokwe Uche Emmanuel
Igbong Agwul Patrick
Igbudu Charles Chukwudi
Igbudu Joelsoh Igho
Igbuwe Oghale Theodora
Ige Abosede Alice
Ige Fatima Folashade
Ige Oluwabunmi Rosaleen
Igenegbai Sherifatu
Igharo Edoba
Igharo Idahosa
Igharo Queensley Eghian
Ighavodha Abel Arerosuoghene
Ighile Elizabeth Imuwahen
Ighile Eseohe
Ighile Mark Osamagbe
Igho Samson
Ighodaro Stanley Dave U.
Ighoroje Richard
Igiesurobo Joy Adezuwa
Iginla Olusola Ibiyinka
Igonifacha Ayibaebimiedei Ayibat Unim
Igrinoba Stella Ashatu
Iguma Andy Ikponmwosa
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
4897
4898
4899
4900
4901
4902
4903
4904
4905
4906
4907
4908
4909
4910
4911
4912
4913
4914
4915
4916
4917
4918
4919
4920
4921
4922
4923
4924
4925
4926
4927
4928
4929
4930
4931
4932
4933
4934
4935
4936
4937
4938
4939
4940
4941
4942
4943
4944
4945
4946
4947
4948
4949
4950
4951
4952
4953
4954
4955
4956
4957
4958
4959
4960
4961
4962
4963
4964
51803
51808
51829
231337
51847
51854
228447
51863
51885
51904
51924
224420
51948
51987
124089
52022
52034
52063
52064
52066
52067
52068
52069
52070
52071
210851
52079
52076
52080
52092
232517
229732
52113
213876
214492
52135
52137
52145
115526
52159
215243
205634
52199
52201
52206
206250
52240
207096
52267
52301
52341
210987
52378
52387
226219
52395
213861
52419
124883
52423
213970
52442
52447
52458
52462
52469
52482
52483
28708
26429
34246
21604
34248
68053
21605
18561
38260
21610
21615
92332
21618
26432
68116
34261
30534
34263
14051
18575
18576
18577
18578
18579
18580
34264
30535
18582
103003
68148
103005
89942
26433
34265
18587
30537
18590
26434
92334
43591
34273
68188
68190
68192
2310
40977
18592
34278
68212
68223
26437
21629
3568
21626
19693
68244
30547
18595
68264
68256
68266
12140
6784
34283
68272
68275
34284
68287
4965
4966
4967
4968
4969
4970
4971
4972
4973
4974
4975
4976
4977
4978
4979
4980
4981
4982
4983
4984
4985
4986
4987
4988
4989
4990
4991
4992
4993
4994
4995
4996
4997
4998
4999
5000
5001
5002
5003
5004
5005
5006
5007
5008
5009
5010
5011
5012
5013
5014
5015
5016
5017
5018
5019
5020
5021
5022
5023
5024
5025
5026
5027
5028
5029
5030
5031
5032
52498
52503
222852
52517
52518
52533
52541
52543
52549
52564
52565
52569
52575
52577
52579
52584
220094
52613
52614
52615
217898
52629
52640
52653
52654
52663
226738
52680
216073
52687
216451
52706
52712
52716
52727
52736
52742
52765
52783
52811
52821
52830
218765
52850
52867
52870
52873
52876
52882
52884
218696
52929
52934
52941
52945
52947
52952
52954
52955
52957
52963
52983
53013
210634
53019
53065
119106
53095
21636
68295
38274
6895
21640
68300
38275
18601
18602
38278
30554
18603
28714
34286
28715
26441
103017
28717
28718
68326
68329
34289
30559
21649
100652
28720
28723
34292
68350
68351
68362
34295
34298
68366
24840
103024
26444
24841
68385
18608
30563
4845
30565
28731
28732
28734
34307
26448
29817
68419
68420
68437
21652
68441
18611
38283
18612
68449
21656
18613
68451
68458
94404
90657
6023
68496
97232
34319
Iguma Elvis Osahendtor
Igun Kwache Florence
Igwe Chimezie
Igwe Chimezie Confidence
Igwe Emmanuel
Igwe Fidel Ngozi
Igwe Francis Nonso Chukwukelu
Igwe Jeremaih Ndukwe
Igwe Princess Ezinwanne
Igweaka Victoria Ekwunife
Igwenagha Umegboro Cleophas
Igwilo Malachy
Igwilo Prince Gabriel
Iheakanwa Emeka Charles
Iheanacho Blessing Chibueze
Ihechere Modestus Uche
Ihedioha Celestine Ojina
Ihekire Chinyere Sandra
Ihekoronye Emmanuel Chinedum
Ihekweaba Chinweze
Ihekweaba Chukwugoziem
Ihekweaba Iheanyi
Ihekweaba Nwanyieze Nneasoka
Ihekweaba Ogechi
Ihekweaba Somkelechi
Ihekweazu David Ikechukwu Uzoma
Ihekwoaba Chioma Kelechi Chioma Kelechi
Ihekwoaba Ephraim Uzoma
Ihekwoeme Chidiebere Christogon Us
Iheme Ure Enyinne
Ihemegbulem Ezemdi Ogechi
Ihenekwe Chikuebuka Moses
Ihenyen Janet Oimenejeme
Iheonu Emmanuel Ukaegbu
Ihesiaba Olisa
Ihezue Ndidi Osinachi
Ihezukwu Augustina Nwadiuche
Ihimekpen Patience Shaka
Ihsan Mutual Integrated Invest Ltd
Ihum Stephen Terlumun
Ijachi David Ochoche
Ijalana Akintunde Olubunmi
Ijaleye Charles Rotimi
Ijaleye Victor Temitope
Ijaoba Munirat Motomori
Ijegbai Eguaoje Kessington
Ijeh Sunday
Ijemba Ifeoma
Ijeomah Donald Chinjele
Ijimakinwa Feyisitan Oladapo
Ijomor Florence Anie
Ike Ambrose
Ike Athanasius Onwukwe
Ike Chukwunwendu Samuel
Ike Clement Agbarakwe
Ike Elvin Ighogbota
Ike Linda Nkiru
Ike Sabastine Izuchukwu
Ike Sunday Chukwujekwu
Ike Vincent Chijioke
Ikeako George Ikechukwu
Ikeano Victoria Ngozi
Ikebe Paul Ebaye
Ikechi Doreen
Ikechukwu Augustine Tony
Ikechukwu Frank
Ikediashi Alexander
Ikediashi Awele
ANNUAL REPORT
2014
Ikedinobi Matthew Emezie
Ikediugwu Ebere Eucharia
Ikediuwa Onyechere Onumadu
Ikegwuonu Christiana Mgbechi
Ikegwuonu Fredrick Azubuike
Ikeh Chioma Chinyere Clair E
Ikeh Gregory Izunwanne
Ikeh Ngozi Gold
Ikeh Uchenna Onyekachi
Ikejiaku Chijioke
Ikejiaku Chuka Nnanyelu
Ikejiobi Christian Ifeanyi
Ikeke Celestina Oyaso
Ikeke Vincent
Ikekhuame Betty
Ikeli Ndubuisi Hyginus
Ikemike Huro Joseph
Ikenebomeh Juliana Edo
Ikenebomeh Marcel James
Ikeneku Alex Ojiyovwi
Ikeneku Maureen
Ikenta Augustina Ozoemena
Ikeokwu John Ifeanacho
Ikeswuonu Obioma
Iketona Benjamin Olatunsi
Ikhanaede Constance Owomoale
Ikhelowa Mohammed Omolhudu
Ikhiboya Afeare Goodluck
Ikhile Monday Ukweduan
Ikhille Ohiwere Leo
Ikhuoriah Ehigiele Aminu
Ikiddeh Mbukidem Ime
Ikiedemhe Roseline
Ikilama Francis
Ikiyei Felix Preye
Ikodudu Austin Orumede
Ikogwe Rose
Ikoni Woyengikuro Emmanuel
Ikotun Mary Olu
Ikpe Ezenwa Cornelius
Ikpeama Darling Odochi
Ikpefan Dave Oziegbe
Ikpenwa Tobias Mbadiwe
Ikpi Charles Chuks
Ikponmwen Edward Osawaru
Ikponmwosa Isoken
Ikponmwosa Racheal Ojobioma
Ikpotor Usiewoma Alex
Ikudayisi Olayemi
Ikudehinbu Inumidun
Ikuejamofo Olawunmi Adeolu
Ikuyajolu Moses Temitayo
Ikwelle Fidelis Chiedozie
Ikwu Caroline-chinye
Ikwuagwu Nnenna O
Ikwuazom Anthony Chukwudifu Ok Oroa
Ikwuechegh Uchechukwu
Ikwuegbu Gladys Ijeoma
Ikwuetoghu Bridget Obiageli
Ikwuka Philemon Izuchukwu
Ikwumelu Uzoamaka Blessing
Ilawole Oluwarantimi Oliyema Yo
Ileladewa John Adeyemi
Ilemobayo Jacob Omowale
Ilenagbe Ese Grace
Ilevbabor Olajumoke Olufunmilay O
Ilika Patrick Igwe
Iliya Navati
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
5033
5034
5035
5036
5037
5038
5039
5040
5041
5042
5043
5044
5045
5046
5047
5048
5049
5050
5051
5052
5053
5054
5055
5056
5057
5058
5059
5060
5061
5062
5063
5064
5065
5066
5067
5068
5069
5070
5071
5072
5073
5074
5075
5076
5077
5078
5079
5080
5081
5082
5083
5084
5085
5086
5087
5088
5089
5090
5091
5092
5093
5094
5095
5096
5097
5098
5099
5100
53104
217519
232657
232649
53122
53136
119759
53153
53158
206880
53183
53188
211593
53218
53220
53231
53233
211795
113637
53286
53298
53299
53311
53348
229713
53373
53424
53426
53427
53434
119984
119369
120639
119465
53479
53480
53481
53522
230155
206244
53553
53555
113576
115732
223717
53613
53625
209062
53647
223081
53661
53662
53678
53679
53683
53686
53687
53696
53760
53771
222943
231862
207801
53842
53843
53900
206723
53974
45973
45980
45977
45979
23523
21667
68514
89346
34322
68520
21673
21674
26458
34326
34327
18622
68533
94406
34331
97242
21687
30571
37758
28745
68582
18624
68596
68598
68599
26462
34336
68605
34337
92350
68617
68618
26466
28757
28758
28759
41006
68637
103047
100656
34350
34352
100657
68670
92354
68681
68683
20287
41010
34354
68688
68689
34355
68693
46026
100662
68721
68722
34370
103052
34369
34376
49694
68772
5101
5102
5103
5104
5105
5106
5107
5108
5109
5110
5111
5112
5113
5114
5115
5116
5117
5118
5119
5120
5121
5122
5123
5124
5125
5126
5127
5128
5129
5130
5131
5132
5133
5134
5135
5136
5137
5138
5139
5140
5141
5142
5143
5144
5145
5146
5147
5148
5149
5150
5151
5152
5153
5154
5155
5156
5157
5158
5159
5160
5161
5162
5163
5164
5165
5166
5167
5168
53986
53993
54002
54031
222098
219156
54116
210451
54144
54158
115121
214566
115182
54205
121565
54230
54285
54305
232424
209787
54330
54332
54334
54340
54346
122115
54352
220830
54404
54405
117183
54436
54441
54446
54448
123972
54471
54477
54478
103310
54494
226619
54502
54505
54542
118465
54581
217440
54590
54600
213178
54609
54632
54643
54657
54659
214956
54682
219814
54691
54711
54742
54757
54766
54768
54769
54770
114056
68780
92358
68790
94407
34380
68806
103070
68830
68831
46036
97268
104912
68838
94409
68839
19697
68846
68859
41053
34400
28777
43605
43606
43608
43609
46067
43610
100674
43614
43615
68872
11336
97270
94412
94413
46072
68886
26490
34405
34406
28782
97273
97277
46073
46078
34414
68906
21709
26495
26497
97283
43618
68921
26498
68927
68928
30582
97285
94416
49703
28786
30584
68963
34422
34423
34424
26505
68967
Iliyasu Ahmad
Iliyasu Aisha Abdullahi
Iliyasu Mairo
Iliyasu Zainab Dahiru
Illa Joseph Taimako
Ilo Eucharia Okwudili
Ilo Samuel Okechukwu
Iloanusi Ogechukwu John
Iloba Emmanuel Kanayo
Ilobinso Chimezie Macachy
Iloeje John Maduabuchukwu
Iloetomma Patrick C
Iloloje M. Beatrice
Ilonah Ajuma Esther
Ilonah Linda Ojone
Ilonze Hyacinth Okonkwo
Ilonzo Paul Nwachukwu
Ilori Joseph Olagoke
Ilori Mercy Olanike
Ilori Timothy Abiodun
Ilozumba Fidelis Okwuolisa E
Ilozumba Jude Amechi
Ilu Rebecca Danbima
Imade Augustine
Imafidon Dorothy Eki
Imagha Jerry Anyaogu
Imanlihen Anthony
Imanlihen Ekuemunotale Anthony
Imanyi George Utsu
Imarhiagbe Henry Osahuemwenmwen
Imasuen Anthony
Imeh Esther Mfon
Imgbian Nina Ember
Immaculate Network Future Hope Inv.
Immanuel Daniel-caleb Olofunso
Immanuel Nathaniel Obashola
Immonirioma Othuke Matthew
Imoisi Florence Imuwahen
Imonikhu Frank Mathias
Imonwa Alexander
Imose Aimieneroegbe
Imotto Lawson
Inaania Hezekiah Isanee
Inaku Kenneth Ogar
Inakwu Awuru Monday
Indagawa Ruth Asabe
Inedu Ali Wesley
Inegbenebor Christiana Abonzebeter
Inenemoh Favour Aghumile
Inifadhe Uzoezi Kingsley
Inijeze Lucy Titilayo
Inim Ataobong Edet
Inni Johnson
Innocent Chinwe A. Hadassah
Innocent Christian
Inobeme Mayor & Biosiochi
Inock Hans Ngaji
Integrated Concept Propertie S Limited
Inuwa Mariya
Inuwababa Khadija
Inwere Ijeoma
Inweregbu Chinedu Kizito
Inyang Margaret
Inyang Patricia Bassey
Inyang Roselin
Ipila Solomon
Iqra Venture
Irene John Oshokenoyah
About Us
Ireroa Uwade Owolabi
Iretomiwa Agoika Ab Ctcs Ltd
Iriabe Christy N
Irinoye Olufunke Tolulope
Iro Iro Uke
Iro Thomas Ugochukwu
Ironbar Michael Edem
Irunokha Michael
Iruobe Samuel Uanbahoro
Isa Abubakar
Isa Bawa Isa Alh.
Isa Habu Pupule
Isa Kaita Nafisatu
Isa Kamarudeen
Isa Mairo Talatu
Isa Salihu
Isaac Okeoghene
Isabu Omozele Julia
Isah Adamu
Isah Alhassan Mahmoud
Isah Amina
Isah Aminat
Isah Ashah
Isah Bilikisu
Isah Faridat
Isah Habibu
Isah Hassan
Isah Mahmud Lawan
Isah Yahaya
Isah Yakubu Jatto
Isaiah Lucy
Isamade Theresa
Isamotu Kabiru Oyebamiji
Isamotu Yidiat Folashade
Isamuyide Olayinka Isaac
Isaq Adamu Zakariya
Iseghohimen Iyonagbe
Isekeije Omohaye Duke
Iseko Ene
Iseko Kingsley Iyoko
Isewede Christopher
Isewon Rotimi Bankole
Ishabiy Michael Olagoke
Ishak Marmana Ali
Ishaq Mustapha
Ishaya Mary Etsu
Ishicheli Nwamaka Valeatina
Ishiwu Cosmas
Ishiyaku Tanko Abdullahi Sada
Ishokare Governor Gospel
Ishola Adekunle
Ishola Ebenezer Benson
Ishola Modupe
Ishola Oke Rita
Ishola Suday Oladokun
Ishola Taofeek Abiodun
Isi Byron Ifeanyi Benjamin
Isiaka Ismaila
Isiaka Kayode Akande
Isiaka Yakubu
Isibor Augustine U Oyeobagie
Isife Ikenna J B C
Isika Nkechinyere Uloma
Isimi Ebeben
Isimi Olubanke Cynthia
Isimi Olufemi Marvin
Isimite Anthony
Isinguzo David
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
5169
5170
5171
5172
5173
5174
5175
5176
5177
5178
5179
5180
5181
5182
5183
5184
5185
5186
5187
5188
5189
5190
5191
5192
5193
5194
5195
5196
5197
5198
5199
5200
5201
5202
5203
5204
5205
5206
5207
5208
5209
5210
5211
5212
5213
5214
5215
5216
5217
5218
5219
5220
5221
5222
5223
5224
5225
5226
5227
5228
5229
5230
5231
5232
5233
5234
5235
5236
54788
54794
54797
54799
54812
54813
54814
54816
54828
54829
54841
211900
54859
54890
210314
54880
54881
206716
54913
54923
225089
54966
54971
54976
215413
112687
55010
55024
55034
55035
55055
226501
55080
55082
224055
55105
55109
55116
55122
55152
216223
55262
55272
55273
55289
55325
55332
55382
223494
55386
55389
214424
55450
55458
55460
55476
55479
55489
55497
218971
55512
55549
55558
55576
55607
55617
55619
55640
26506
68976
41093
26507
49708
46085
46086
41094
34427
41095
46092
46099
97288
100682
68993
46097
37765
100683
34439
69000
41101
69011
48690
21714
41103
26509
46106
38290
48697
48698
69038
69046
26512
26513
69054
34449
69058
34453
69060
69076
69113
69111
103097
28806
69115
18644
69124
43622
89950
28807
103104
28815
69159
26525
26526
34468
69165
30590
89951
103105
97314
69197
28829
34476
28837
21722
103110
21725
5237
5238
5239
5240
5241
5242
5243
5244
5245
5246
5247
5248
5249
5250
5251
5252
5253
5254
5255
5256
5257
5258
5259
5260
5261
5262
5263
5264
5265
5266
5267
5268
5269
5270
5271
5272
5273
5274
5275
5276
5277
5278
5279
5280
5281
5282
5283
5284
5285
5286
5287
5288
5289
5290
5291
5292
5293
5294
5295
5296
5297
5298
5299
5300
5301
5302
5303
5304
55650
55651
55676
55691
55692
55706
120658
55765
55768
55790
116094
55813
55832
55845
55849
55854
55860
55861
118315
55876
55882
55883
55897
55905
207286
222878
219081
116265
213092
215387
55976
55994
55996
56002
56007
218068
222256
56053
56059
56077
56095
117240
121872
56166
56173
124549
56186
56190
56201
56202
56222
56230
56243
56253
56254
56258
56259
56262
56274
218456
56318
212632
56298
213783
212631
56325
56328
56334
21726
69226
69235
46113
46114
41119
69244
43623
34485
69260
69269
97322
69278
69286
69287
20321
103124
34487
19712
30593
69296
69297
14093
69298
46121
69322
103129
25259
69324
69327
69319
69333
46123
41138
69334
100708
100709
12159
34500
34501
19719
100715
34504
97333
103134
100718
103135
100719
34505
34506
69412
26550
100723
69430
69431
69433
69434
34511
18659
97341
34518
38879
104705
104706
38880
46138
89374
41167
Isitua Joseph Chizea
Isiwele Jane
Isiyaku Yahaya Zango
Isiyaru Ahmabu Lamire
Ismail Abdulsalam
Ismail Abubakar
Ismail Adamu Mohammed
Ismail Aisha Abimbola
Ismail Hauwa
Ismail Ibrahim Bolaji
Ismail Nasiru Abdullahi
Ismaila Abubakar
Ismaila Adewale Monsuru
Ismaila Dabang Danjuma Yusuf
Ismaila Ibrahim Adeyinka
Ismaila Rabi
Ismaila Ramuna Yusuf
Ismaila Salisu Mohammed
Isong Isikong Okon
Isoun Louise Tariye
Israel David
Isyaka Abdullahi Zainab
Isyaku Amina Abdullahi
Isyaku Lubabatu Ahmed
Isyaku Umar Alh.
Itabor Margeret Onomuki
Itaketo Ubong Ndaeyo
Itauma Henshaw
Itela Osebi
Itela Osigbodi
Itiveh Ohwoede Daniel
Itogbe Johnson Olalekan
Itoje Oghale Anthony
Itopa Samuel Asuva
Itua Ark-stewart O.
Ituen Etim
Itumo Sunday Chijioke
Ityokyaa Priscy Kande
Ivalave Vincent Abugh
Iweanya Thelma Nkili
Iwuagwu Nnamdi
Iwuagwu Rosemary Chioma
Iwuala Vitalis Chimezie
Iwualah Emeka Emmanuel
Iwuchukwu Ikechukwu Femi
Iwundu Okechukwu
Alozi E
Iwunor Mary Idowu
Iyaji Ruth Eke
Iyal Aliyu Hassan
Iyalekhue Helen Nodiana
Iyam Alexzanda Prince
Iyamu Osebhahiemhen Ono
Iyapo Samson Oluwatosin
Iyasele Perpetua
Iyawa Helen Ekiegini
Iyekolo Bamidele Olawale
Iyemifokhae Bello Saheed Iruobe
Iyida Clement Okechukwu
Iyimoga Justina Akama
Iyiola Abiodun
Iyiola Kazeem Oladimeji
Iyoho Idorenyin Aniette
Iyoriobhe Aimuamwosa Patrick
Izang Ladi Usman
Izeubizua Sylvester Post Of
Iziriga Moses Chinwendu
Izor Juliana Agbo
Izueke Chikaodili Jude
ANNUAL REPORT
2014
Izuka Ransom Amaechi
Izuka Uchechi Elizabeth
Izuyon Maria Iriedon
Ja'afar Amira Ado
Ja'afar Nafisa Ado
Jabir Abdullahi
Jackreece Beke, Abel
Jacob Femi Aze Femi
Jacobedi Malaika-soko
Jagun Anotu Abiodun
Jaiyeoba Tolulope O. Omoyemi
Jaiyeola Babajide Oluwaseun
Jaiyeola Oluwasegun Ajiboye
Jaiyesimi Ifeoluwa Oluwajolayem I
Jaiyesimi Oluwajolasun Olufemi
Jaja Boma Siadapiri
Jaja Tamunoboma David Michael
Jaja Weri
Jajua Mohammed Alison
Jakes Efforts Company Limite
Jalekun Damilola Anne
Jalekun Ikemi Margaret
Jalo Olga Yanbwamuro
Jama Jame Ibrahim
Jameela Aliyu
James Favour
James Imoh Udoh U
James Joseph John
James Morenike Bunmi
James Oludayo.o
James Sunday Semanter
Jamhiyatu-l-irtifahi-l-islam
Jamila Kabiru
Jamilu Usman Shehu
Jamiu Kudirat Bolanle
Jang Anna Mary
Jangnap Bolcit Wuyep
Jatau Gad Matthew
Jatau Joseph Victoria
Jatto Bankole Calistus
Javan Fredah
Jave Patience Ediri
Jegede Francis Kayode
Jegede Titilola
Jeje Pius Adebayo
Jekada Yakubu Akonga
Jeleel Kolawole
Jeltu Benjamin
Jemima Oluwakemi Alade
Jeminiwa Funmilola Christianah
Jeremiah Iyabode
Jeresa Harriet Temabo
Jesse Ola Martins
Jesuoboh Shawntel
Jesuoboh Terrence
Jesuseitan Andrey Oluwashola
Jesutofunmi Kehinde Olateju
Jethrol Bala
Jiakpo Chibuike Justin
Jibreel Zunurain Sahban
Jibril A A Adamu
Jibril Abubakar Muhammad
Jibril Aliyu
Jibril Mahmud Muhammad
Jibril Umar Muhammed
Jibrin Alhaji Dahiru
Jibrin Bala Abuja
Jibrin Jane Chinwe
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
5305
5306
5307
5308
5309
5310
5311
5312
5313
5314
5315
5316
5317
5318
5319
5320
5321
5322
5323
5324
5325
5326
5327
5328
5329
5330
5331
5332
5333
5334
5335
5336
5337
5338
5339
5340
5341
5342
5343
5344
5345
5346
5347
5348
5349
5350
5351
5352
5353
5354
5355
5356
5357
5358
5359
5360
5361
5362
5363
5364
5365
5366
5367
5368
5369
5370
5371
5372
214476
56337
56343
56353
56365
116932
207043
56439
114663
219055
56608
218782
56609
56490
56590
56653
56658
209483
56703
56733
56734
56737
218480
56812
56856
56866
56869
215514
56932
118165
56953
56956
210263
56998
56999
210060
57013
57029
119323
114245
222662
57083
208982
214668
210896
218203
57120
211948
57137
57141
224526
209412
57239
220222
57256
57268
206070
57272
57275
57306
117721
57346
57376
57377
220317
57415
57435
57446
41169
105057
24451
103139
100727
34531
69471
69475
97355
41185
100732
34548
90674
34537
34544
14103
41187
37774
69574
69588
69589
69590
41198
28857
69630
69633
103152
97365
21736
26570
92417
6696
69668
100744
69674
69678
69677
100747
89386
100749
28861
69698
103162
97372
92421
46160
103161
34580
100752
89388
69734
100755
69763
23545
46162
41221
46163
13190
34586
69786
100765
41229
34593
46183
41236
103171
92425
69818
5373
5374
5375
5376
5377
5378
5379
5380
5381
5382
5383
5384
5385
5386
5387
5388
5389
5390
5391
5392
5393
5394
5395
5396
5397
5398
5399
5400
5401
5402
5403
5404
5405
5406
5407
5408
5409
5410
5411
5412
5413
5414
5415
5416
5417
5418
5419
5420
5421
5422
5423
5424
5425
5426
5427
5428
5429
5430
5431
5432
5433
5434
5435
5436
5437
5438
5439
5440
57505
57507
57510
206415
57513
118981
220321
57619
57627
57705
57642
57643
230366
57681
111165
57702
57704
57737
57738
57741
57743
57759
57761
227363
123509
57775
57800
57803
57806
206321
57884
57901
57913
57914
222999
215861
215305
57950
57961
57962
57979
220175
123303
58018
219350
58043
58044
58045
111466
58047
58068
58074
58081
58092
58097
58104
58106
58143
58152
58158
58167
58198
58215
58219
58304
213675
58258
58273
69847
24017
26581
34605
41244
69863
69885
103179
37778
30605
69892
30600
103181
18674
69914
30604
69911
21742
21743
69919
34618
28866
69928
28867
41259
46213
69937
21745
30607
69985
69970
28868
103197
69996
97399
70003
70009
70010
100784
70014
70024
100786
70043
34628
49757
41278
41279
41280
70052
34629
24479
19739
34630
24480
34634
70061
70062
70072
70081
34638
34639
70101
100797
14117
70159
92459
94440
70144
Jibrin Magaji
Jibrin Muhammed
Jibrin Shuaibu Alhaji
Jibueze Sunday Uchechukwu
Jidanke Helen Vou Bala
Jika Sakina Ribadu
Jimba Rasidat Adebukola
Jimmy Paul Okon
Jimoh Abdul Razaq
Jimoh Abdulfattah Adetunji
Jimoh Abdylrafiu Adejare
Jimoh Aishat
Jimoh Basau Olugbenga
Jimoh Gbenga
Jimoh Tayo Suleiman
Jinjiri Musa
Jisambo Ahmed Tanimu
Jobbo Dr. Habila
Joboson Thelma Chizoba
John Adeyela Abosede
John Agnes Essien
John Amaechi
John Promise Namse
John Samuel Ehiozua
Johnson Babatunde Oluwafemi
Johnson Doris
Johnson Edwin Chukwumezie
Johnson Olarewaju Ajibola
Johnson Uyaemesi
Johnson Yewande
Jokotoye Sunday Akinlabi
Jolaiya Samuel Oyeniyi
Jolaoye Abigail Modupe
Jolly Palang Janet
Jolugba Soji David
Jonah Anthony Okuouse Chukuyem
Jonah Seyon-lanre Daniel
Jonathan Esther Dambo
Jonathan Fred Amao
Jonathan Silas Vem
Joseph Ateso
Joseph Babajide Olusola
Joseph Chika Dennis
Joseph Dupe Esther
Joseph Ikechukwu John
Joseph Ladi Mary
Joseph Nkem
Joseph Ochai
Joseph Omonigo Justina
Joseph Rebecca
Joseph-ekong Immanuela Imai-obong I
Joshua Bintu
Jubril Mustapha
Jude Mary Joseph
Julius Comfort
Jumare Ahmed
Jumare Ibrahim Abdullahi
Jumbo Clement Chinedu
Jumbo Somieari Davis
Just Investment Club
Juth Accounts Investment Club
Kabir Said Muhammad
Kabiru Mohammed
Kabiru Muhammed Abdullahi
Kabo Murtala Usman
Kadala I Bilgah
Kadiri Abdul-awwal Taiwo
Kadiri Fatimah Omokhepue
About Us
Kafte Umoru Garuba
Kagher Mngohol Jane
Kagho Okpeki Ighovhoda
Kago Rabi
Kahuwai Samuel Elisha
Kalanda Judith Bamidele Epamiere
Kalesanwo Oluwakemi Yetunde Abosede
Kalio Anita Miebaka
Kallu Hassan Haruna
Kalu Ukpai Nwoke Ukpai Nwoke
Kalu Chinyere Idika
Kalu Chukwuemeka Emea
Kalu Edward Uke
Kalu Okey Eletuwa
Kalu Uka Anya
Kalu Uwa Obewu
Kalu Williams Mbah
Kamen Everest Emeka
Kamen Uzonna Humphrey Isido Re
Kamilu Alao Ayinla
Kamiyole Joseph
Kanabe Joseph Momodu
Kanayo Charity Ugwu
Kaneme Cyprian
Kanhu Josephine Yohanna
Kankarofi Lawan Mohammadu
Kanu Chisom Nneoma
Kanu Eddy Ifeanyi
Kanu Emmanuel Ezegbulem
Kareem Ganiu Babatunde
Kareem Nurudeen Ademuyiwa
Kareem Waheed Adewale
Kariboro Joseph
Karieren Anne Ogheneovo
Karim Adijat Ronke
Karimu Abdulkadir Isumafe
Karunwi Emmanuel Adedeji
Kasali Kehinde Abiodun
Kashim Taiye Alhassan
Kashimawo Samuel Olalekan
Kasimo Regina
Kasimu Yakubu Hassan
Kassim Bolanle Nurat
Kassim Oluwakemi Rashidat
Katibi Olubukola Aderonke
Katken Binaan
Katken Homvel
Katken Kwaphoot
Katkuk Apollos Instifanus
Katmi Yusuf
Katunga Helen
Kawahya Kwaghe Jason
Kawonise Olusegun Sunday
Kawuyu Umaru Adamu
Kayit Keziah Kasham
Kayode Akani Razak Opeoluwa
Kayode Anuoluwapo Favour
Kayode Tioluwani David
Kayode-oyedele Louis Oluyemisi
Kazaure Mrs Munira Shuaibu
Kazeem Ahmed Olatunji
Kazeem Titilope Muibat
Kedong Arison Yusuf
Kegbeyale Sampson Oyeyiola
Kehinde Docas
Kehinde Kazeem Adedayo
Kehinde Lawrence Olakunle
Kehinde Olatutu Olasumbo
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
5441
5442
5443
5444
5445
5446
5447
5448
5449
5450
5451
5452
5453
5454
5455
5456
5457
5458
5459
5460
5461
5462
5463
5464
5465
5466
5467
5468
5469
5470
5471
5472
5473
5474
5475
5476
5477
5478
5479
5480
5481
5482
5483
5484
5485
5486
5487
5488
5489
5490
5491
5492
5493
5494
5495
5496
5497
5498
5499
5500
5501
5502
5503
5504
5505
5506
5507
5508
58321
223995
58352
58362
58375
222499
58389
218353
58397
58430
219095
58441
215700
58460
58474
58479
212405
228350
58506
58516
220588
211392
58538
58541
58579
58634
58643
229987
119720
58690
212007
58717
226909
58753
214514
212196
58822
58775
210701
58835
110583
58852
205930
58866
229456
58882
58920
58969
58980
58999
59018
59036
59050
112966
59096
112983
59104
206522
59124
219238
59151
225717
116468
120184
59167
59174
59190
59191
34644
100798
70184
70188
26584
100800
70195
21748
34650
70209
34654
6788
46247
30612
14122
103206
34658
41298
12903
103207
70234
34661
103209
23555
30613
70269
70275
20338
34663
41302
70308
70313
70318
41303
70354
34671
34672
97451
94449
34674
70370
70377
70380
34676
34679
89398
14127
34687
26592
38316
70436
70445
70451
70466
100816
104715
70473
70478
34695
70488
70498
70500
70502
70510
70508
46264
34699
34700
5509
5510
5511
5512
5513
5514
5515
5516
5517
5518
5519
5520
5521
5522
5523
5524
5525
5526
5527
5528
5529
5530
5531
5532
5533
5534
5535
5536
5537
5538
5539
5540
5541
5542
5543
5544
5545
5546
5547
5548
5549
5550
5551
5552
5553
5554
5555
5556
5557
5558
5559
5560
5561
5562
5563
5564
5565
5566
5567
5568
5569
5570
5571
5572
5573
5574
5575
5576
59192
59193
213138
59202
59242
59247
59252
59281
59294
59331
59332
59354
59360
59378
59403
59404
59407
59450
59454
59460
59465
59469
59474
221212
59503
59508
59546
59548
210427
59552
59582
59592
59593
59595
59599
59609
206886
59627
209839
227688
59655
59688
59716
59747
59749
114789
59788
59807
59815
59833
210738
59855
59975
217086
214556
59995
59998
117735
60027
60026
211180
60094
221458
60119
60120
60130
60131
60132
34701
34702
34703
92484
70536
70541
70545
100827
48722
49772
49773
70571
70574
70578
30614
70593
41327
21755
100833
100838
34714
34715
104918
26604
34719
89409
89963
104718
34724
41333
92489
70634
70635
70637
70639
70646
100843
34728
70651
70659
70667
70685
37793
70698
70699
23558
97497
46296
70729
19758
70737
70739
49777
97517
49778
70778
70781
70790
92503
70801
70989
70827
70994
97528
70837
100856
48738
46300
Kekere Samson Dele
Kekwo Angela Ada
Kellany Adio Ganiyu
Kemakolam Isioma
Kenerekedi Albert
Kenkwo Ada Angela
Kenwa-irefin Great
Keri-uzor Stephanie Symphorosa
Kerobo Godwin Oshioke
Keyede Kamoru Oladiji
Khadijat Abubakar Umaru
Khalid Abubakar Ahmad
Khalil Farida Umar
Khama Leonard Ogbonnaya
Kiddermister Properties And Supplies Limited
Kigbu William Akolo
Kiksenenso Daniel Benjamin
Kilawa Sani Sale
Kimnaton Sunday
Kingoli Samuel Chartty D Ose
Kingsley .a .adams
Kinokris Company Limited
Kio Ogie Chukwugozie
Kirfi Yakubu
Kodilinye Chiazor Regina
Koko Michael Abanum
Kokodoko Alfred
Kokoette Ime Uwem
Kokovi Edoh Claude
Kolade Ruth Olubunmi
Kola-olaleye Oladotun Babatunde
Kolawole Abdul Imoyo
Kolawole Alaba Oludotun
Kolawole Habiba Yetunde
Kolawole Micheal Oludare
Kolawole Motunrayo Idiatu
Kolawole Mr Segun
Kolawole Odunayo Yaiqub
Kolawole Olujimi & Ayoade
Kolejo Rasheedat Iyabode
Koleosho Oluwatomi Anjolaoluwa
Koleowo Saheed Adeniyi Saheed Adeniyi
Koli Sagir
Kolo Abdulhameed Muhammad
Kolo Mamud Habiba
Kolo Mohammed
Komolafe Janet Sebolatan
Kor Akpen
Kori-siakpere-omonigho Hilda
Kosirikwe Scholar Onyinyechi
Kotoko Ali
Kough Godwin Zaki
Koya Olusegun
Krans Betty
Kuchet Grace Salisa
Kuchi Ibrahim Garba
Kudayah Jojolola Oluwadamilo La
Kudos Innovation Limited
Kugbe Sonayon John
Kujore Abiola & Opeolu Abiola
Kukoyi Olabisi Abiola
Kukoyi Olawunmi
Kukoyi Olorunshola Ademiro
Kuku Babatunde Ayodeji
Kuku Olumide Olaniyi
Kuliya Safiya Alkali
Kumashi Adnan Sagir
Kumashi Amatallah
ANNUAL REPORT
2014
Kumashi Fatima
Kumashi Hauwa Deenar
Kume Phoebe
Kumoye Ololade Arinola
Kupolokun Odunayo
Kupoluyi Ayodele Ayodeji
Kupoluyi Olubukola Anike
Kuranga Suleiman Ibrahim
Kuraye Abubakar Abdullahi
Kusa Adetunji Adeniyi
Kusa Anthonia Olumuyiwa
Kusimo Omololu Adeneye
Kusugh Henry
Kuti Adetutu A
Kuye Festus Ademolu
Kuye Olakunle Oluwadamilar E
Kuye Victoria Joshua
Kwalli Maijidda Ahmad
Kwaplong Niagsuk Longshal
Kwarkas Vanbilip
Kwasu Nancy Lami
Kwaya Saratu Emmanuel
Kwetishe Elisha
Kyalo Antony
Lababidi Houmam Jamil
Labaran Mohammed Bala
Laburta Blessing James
Ladan Abubakar Abdullahi
Ladan Aishatu Ilelah
Ladan Asabe Titi
Ladega Anuoluwapo Olubunmi
Ladeji Grace Olajumoke
Ladeji Jacob Oladejo
Ladejo Olutosin Charles
Ladejobi Adetola Oluwagbenga
Ladejobi-somorin Olateju Abiola
Ladele Olusoji Victor
Ladepo Charles Olatunde
Ladies Friendly Society
Ladipo Layiwola
Ladipo Temitayo Motunrayo
Lagos State University Christian Fellowship
Lakabra David Inuwa
Lalude-davies Oluwakemi
Lam Mohammed
Lame Mu'azu Yakubu
Lamidi Musa Iranlola
Lamin Abdurrahman Muhammad
Lamina Olalekan
Lamoroe Maimuna Mansur
Lanihun Folasade Olabisi
Laniyan Emmanuela Oluwanifem I
Lasisi Alaba Babashola
Lasisi Olawale Afeez
Lasisi Omoniyi Ismaila
Lasisi Owolabi Taju-deen
Lasisi Saheed Abolore
Lasu Muslim Coop Society
Lateef Sikiru Temitope Olawale
Lateef Tajudeen Aladeniyi
Lawal - Abiola Rashidat Aderonke
Lawal Adeola Jelilat
Lawal Adewale Olajide
Lawal Akeem Adedayo
Lawal Akinremi Taofeek
Lawal Aminat Titilayo Adefa Lu
Lawal Aminu
Lawal Aminu
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
5577
5578
5579
5580
5581
5582
5583
5584
5585
5586
5587
5588
5589
5590
5591
5592
5593
5594
5595
5596
5597
5598
5599
5600
5601
5602
5603
5604
5605
5606
5607
5608
5609
5610
5611
5612
5613
5614
5615
5616
5617
5618
5619
5620
5621
5622
5623
5624
5625
5626
5627
5628
5629
5630
5631
5632
5633
5634
5635
5636
5637
5638
5639
5640
5641
5642
5643
5644
60138
225291
111763
60195
60237
60562
60262
116045
60290
60291
60295
216504
216503
60335
227457
60340
60343
60396
60408
60419
60426
60427
119257
60437
60443
60454
60457
60458
60460
60472
205810
60575
60501
60512
231031
60518
60538
60583
223997
60589
60599
60605
60608
60614
60644
120069
60649
215019
124633
60703
60705
60706
60729
60755
60774
60789
60793
228725
208628
60830
220667
60854
60859
60868
60872
60878
217869
219194
34737
70852
71003
70865
46306
41378
41362
71011
89413
70892
70893
34751
34752
48745
70908
70909
48746
70932
49790
70942
70943
34744
46321
9100
70951
70959
89414
89415
97545
70962
71028
71031
28877
70979
46315
48751
34747
97560
71043
34754
46326
24494
34755
46331
20339
71056
48764
71080
71081
71084
97566
71085
71090
941
26611
34762
21764
71128
71133
71141
71152
24496
34763
71157
71163
71168
71170
71205
5645
5646
5647
5648
5649
5650
5651
5652
5653
5654
5655
5656
5657
5658
5659
5660
5661
5662
5663
5664
5665
5666
5667
5668
5669
5670
5671
5672
5673
5674
5675
5676
5677
5678
5679
5680
5681
5682
5683
5684
5685
5686
5687
5688
5689
5690
5691
5692
5693
5694
5695
5696
5697
5698
5699
5700
5701
5702
5703
5704
5705
5706
5707
5708
5709
5710
5711
5712
60949
214634
60961
60962
60977
61016
61022
207082
120361
61046
209475
61056
61077
61127
61148
61150
225372
61161
61195
216080
61203
61204
61205
61216
224960
61233
61268
61302
217816
206148
61370
61382
61399
61417
61419
61471
61449
61450
61458
61509
61517
61541
114078
61572
61603
61619
61622
61625
61627
61635
61638
206192
61657
61659
207105
61687
61724
61729
61740
61747
61773
61780
61790
61807
112086
61831
211511
61842
71206
103244
71211
71212
103245
71228
41400
71233
34779
24028
41401
26614
71238
34784
71270
100885
71274
26618
103252
71299
9435
71282
38322
30619
30621
71295
26621
71326
71329
38327
30624
21784
18698
34795
71350
46386
71357
34796
71359
71369
71371
46400
34805
46412
34815
34821
71381
34823
41446
34825
23566
41450
41451
34828
46422
34833
71393
34836
34838
100911
46434
46440
41464
41469
34844
71407
34847
26626
Lawal Asiata Kehinde
Lawal Bolanle
Lawal Fatai Opeyemi
Lawal Firdaus Toluwalase
Lawal Ibrahim Hussaini
Lawal Ibrahim Ibrahim
Lawal Kabir
Lawal Ladi
Lawal Ladidi Balkisu
Lawal Laminde Aishetu
Lawal Lateef Olayinka
Lawal Mahdiyyah Kikelomo
Lawal Mohammed Mustapha Kodja
Lawal Muh Nuraddeen
Lawal Muhammed Oluwasina
Lawal Mukaila Oladimeji
Lawal Muntari Kofarsoro
Lawal Olatunde Temitope
Lawal Olusegun Musibau
Lawal Oluwatoyin Shukurat
Lawal Omotola Esther
Lawal Onize
Lawal Rabilu
Lawal Raheem Adewale
Lawal Rasheed Akamu
Lawal Rukayat Oluwakemi
Lawal Saadatu Asabe
Lawal Sadiq
Lawal Saheed
Lawal Shakiru Olalekan
Lawal Sheriff Ademola
Lawal Solarin Omolade Caroline
Lawal Taofeek Jimoh
Lawal Toheeb Abiodun
Lawal Umar
Lawal Usman
Lawal Zaenab Titilope
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Lawal-oloki Dare
Lawan Abubakar Sadiq
Lawan Bala Trader
Lawan Bunu
Lawan Hafsat
Lawan Musa
Lawani Anthony Shegun
Lawani Titi
Lawkl Jafaru
Lawson Tony Olufemi
Lawson Victor Mensah
Layeni Adeyinka Aderonke
Layiwola Peter Titilayo
Layo Yusuf Adeola
Lebi Olumide Gabriel
Lekah-rotimi Ajibola
Lelekumo Ogrebonimighan Hillar Y
Lenka Philifd Musa
Leonard-ben Yvonne Chinemerem
Lewe Abilow Innocent
Lewis Susan Kofoworola
Liadi Jura Datoluwakemi
Ligali Musliu Abiola
Liman Abba Bashir
Liman Balarabe Musa
Liman Yaro Fatimah Binturrasul
Linus Baba Chibok
Lisa Ajolade Esther
Lisa Tajudeen Akanji Ola
Longe Akinlolu Oluwatosin
About Us
Longe Babatunde Michael Babatunde
Loolo Godwin Nameme
Lot Olanrewaju Amos
Lotechukwu Uruak Joy
Loveday Sime Augusta
Lukas Edmund Zulike
Lukman Nafisat
Lurwanu Abdulkadir
M Aminu Ibrahim Urwatu
M Ogbole Peter
M.s.s.n Kasu
Maajam Tabitha
Mabadeje Adeolu Babatunde
Maccido Mohammed Attahiru
Mackintosh Ijeoma Timidera Debor Ah
Maclean Bamnan Dikwal
Mact Securities Limited
Madaki Joseph
Madu Anthony Joseph Chinenyeze
Madu Anyinam Benjamin
Madu Chinonye Cal
Madu Chioma Theresa
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Madu Harold Aguibe
Madu Larry Emma Chika Arc
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Maduka Ignatius Chukwudi
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Magaji Danja Aisha
Magaji Hassan Olakwa
Magaji Ibrahim
Magaji Mariyam
Maha Ojonugwa Joshua
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Mahmud Binta Ahmad
Mai Maimuna Hamza
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Maid0ki Usman Musa
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Maidawa Johnson Adamu
Maidugu Yusuf
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Maijamaa Abednego
Maikudi Ibrahim Usman
Maikyau Zainab
Mainabukar Fatima Musa
Mainasara Zainab Bugaje
Mairiga Umar Asma'u
Maisaje Sabina John
Maishanu Abubakar Fatima
Maitama Basheer Kazaure
Maiwada Halima Nuhu
Maiyaki Grace
Maiyara Mohammed Bello
Majayogbe Victor Olaitan
Maje Suleiman Abubakar
Majekodunmi Aisha Oluwakemi
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
5713
5714
5715
5716
5717
5718
5719
5720
5721
5722
5723
5724
5725
5726
5727
5728
5729
5730
5731
5732
5733
5734
5735
5736
5737
5738
5739
5740
5741
5742
5743
5744
5745
5746
5747
5748
5749
5750
5751
5752
5753
5754
5755
5756
5757
5758
5759
5760
5761
5762
5763
5764
5765
5766
5767
5768
5769
5770
5771
5772
5773
5774
5775
5776
5777
5778
5779
5780
61875
61883
61907
61910
61925
61928
61955
61982
213149
62016
62029
221916
62044
62051
62064
62086
62124
62129
122363
62137
221973
62139
62140
62143
62168
62187
62192
62193
62219
62221
122127
62245
62247
62248
114055
62279
62299
206727
62332
62348
62370
62373
62379
62384
62392
62408
62412
62416
62436
62445
222654
62462
62468
62471
62498
230696
62482
219577
62492
211324
212720
123113
62509
62535
120573
62559
62560
62573
71438
37813
71449
12195
34855
71452
71472
71480
97608
71487
71491
71501
71502
100917
71509
48787
34865
71518
34866
28886
34868
43652
103268
100927
24515
38331
49801
19775
19776
100934
46467
34878
71536
71537
71543
34882
34884
34886
23597
41507
97613
12680
71560
46476
100948
26632
97615
41511
37822
71581
23599
71591
71594
71596
71619
71602
71603
71620
71610
71626
23601
34892
41516
71634
100953
71641
71642
41520
5781
5782
5783
5784
5785
5786
5787
5788
5789
5790
5791
5792
5793
5794
5795
5796
5797
5798
5799
5800
5801
5802
5803
5804
5805
5806
5807
5808
5809
5810
5811
5812
5813
5814
5815
5816
5817
5818
5819
5820
5821
5822
5823
5824
5825
5826
5827
5828
5829
5830
5831
5832
5833
5834
5835
5836
5837
5838
5839
5840
5841
5842
5843
5844
5845
5846
5847
5848
121998
110431
62597
62613
62618
208646
62629
62667
62669
62671
62684
62686
62706
62717
62737
219256
62753
62759
62764
62765
212569
223681
218962
62795
62807
62821
62840
62850
62851
62856
62863
62869
214124
62884
230369
214740
216287
62917
62921
62926
62939
62942
219777
214751
62962
62963
121639
212068
231476
124940
63041
63060
209119
63111
63112
230289
63194
230253
63225
63247
63255
63258
117449
63271
63307
63340
112897
63348
19783
34901
71657
71664
41524
71665
103280
10855
41528
21800
97621
34905
23607
38335
18708
71700
71708
71710
38336
30630
30635
34910
30637
34911
71726
71729
71734
21815
27857
71742
71745
21821
71753
19785
18713
103287
71767
21825
34913
21826
71780
89437
30642
103290
71791
27859
71794
71800
71811
71818
37826
71830
71833
71851
71852
71853
25285
21834
21839
73
71897
100964
34937
34940
71909
26647
71924
38889
12
Maji Bawa
Maji Victor
Maka Ifeyinwa Nkiruka
Makabi Zibia Yusuf
Makama-dabup Shepme
Makanju Abiola Titilayo
Makbere Uyaze Jacob
Makinde Christiana Oyebisi
Makinde Modupe Olukemi
Makinde Olusegun Olalekan
Makinde Sikiru Abiodun
Makinde Wakilat Iyabo
Makinwa Chinyere
Maklu Florence Soksim
Maku Josephine Ibhanabhuel E
Malam Musa Kurfi Ma0n Udu
Malgwi Bala Musa
Malik Abiodun Samuel
Malik Fida Hussain
Maliki Aniyu Abudu
Maliki Ibrahim Saliu
Maliki Musa
Malinze Uche
Mallam Yakubu Abubakar Khali D
Mamadu Ibrahim Njidda
Mammah Uche Godfrey
Mamman Aminat
Mamman Asabe
Mamman Yakubu Wakawa
Mamman Zahraddeen Salihu
Mamuda Yunusa Aishatu
Mamudu Luqman
Mamudu Nurudeen
Mamudu Salufu
Mane Siddharthan
Manga Azigbo Yusufu
Mani Lawal
Manko Umaru Abubakar
Mansur Naja'atu
Manu Yusuf
Maradesa Abiodun Saheed
Marafa Gusau
Maraiyesa Modupeola Aderemilek Un
Marchant And Investment Ltd
Marcus Mary Nkese
Mariere Joy Oghenegueke
Marindoti Rasaq
Marinnu Fountain Ltd
Markus Chila
Marquis Abolaji Emmanuel
Martha Maibugu
Martins Bolamle Arinola
Martins Ignatius Babatunde
Martins Lisa Ngozi
Martins Omobola Dmobola
Martins Omoikhueren Diana
Martins Omolade
Martins Sharon Aderonke O.
Martins Temitope Oluwasola
Mary Chiizoba Samuel
Mary Haruna Yusuf Mrs
Maryam B. Salihu
Maryam Hajiya
Masoni Smart Ekwelimeku
Matawal Jerry Uren
Matesun Kudirat Oluwatoyin
Matesun Titilayo Abdulrashee D
Mati Sadiq
ANNUAL REPORT
2014
Matori Musa Salisu
Matthew John Onotu
Matthew Oluwafunmilayo Iyanu
Matti-balogun Silifat Damisola
Maude Samaila Makama
Maverick Investment Club
Maxwell Ejikeme
Mazadu Binta Jummai
Mazaman A Yunana
Mazi Benedict
Mba Chizoba Sophina
Mba Cyprian Ohagwu
Mba Samuel
Mbachu Chimaroke Obineze
Mbadiwe Maureen Nwaoma
Mbadugha Alphonsus Chigozie
Mbaeri Paulinus Nwanosike
Mbagwu Enyinnaya Chinedum
Mbagwu Ernest Chinaka Ernest.chinaka
Mbah Anthony Uche
Mbah Charles Ndubuisi
Mbah Chukwuemeka C.
Mbajiorgu Ngozika Marian
Mbajohnson Charles Chukwunwike
Mbakwe Chinomso Chibuzo
Mbalewe Ogadinma Chikwadom
Mbanaso Ama Ephrhaim
Mbanefo Michael Chuma Ifeanyi
Mbanefo Nneka C
Mbanefo Rita Obiageli
Mbanugo Chioma Uzoamaka
Mbanzu Angelina Chinyere
Mbatojuo Kenneth
Mbaya Daniel Yusufu C
Mbiaka Peter Chibuzor
Mbiwe Comfort Okwuoma C
Mboho Victoria Emmanuel
Mbonu Ekechukwu Daniel
Mbonu Emmanuel
Mbonu Lambert Sunny
Mbung Atim Efanga
Mbwaap Elisha Joshua
Mcjaphet Samuel Chidoberem
Mcwest Alfred
Mebude-falade Tawakalit Modupe
Mecha Joseph Ukah
Medeyinlo Folasade
Mega Union Company Nigeria Limited
Megwa Grace Amarachi
Mekiliuwa Isioma Simon
Mela Danzaria Bosso
Meme Nkoyo Emeka
Menakaya Ifeoma Nkiru
Mere Eziya Madalo
Mere Godfrey Ehukwuemeka
Mere Laureta Chineyenwa
Mfon Usoh Samuel
Mgbachi Sylvanus Chike
Mgbemena Clement Chibuzor
Mgbokwere Remi
Mgburumm Mathias Monday
Mhshingil Ibrahim
Micafindex Enterprises
Michael Andrew Eligie
Michael Francis Kelechi
Miebai Hephzibah Tarefegha A Mira
Mijindadi Aisha Ajikobi
Mijinyawa Abdullahi
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
5849
5850
5851
5852
5853
5854
5855
5856
5857
5858
5859
5860
5861
5862
5863
5864
5865
5866
5867
5868
5869
5870
5871
5872
5873
5874
5875
5876
5877
5878
5879
5880
5881
5882
5883
5884
5885
5886
5887
5888
5889
5890
5891
5892
5893
5894
5895
5896
5897
5898
5899
5900
5901
5902
5903
5904
5905
5906
5907
5908
5909
5910
5911
5912
5913
5914
5915
5916
63412
63427
63434
63440
214014
63455
117120
63485
209794
63502
116447
207399
63509
209486
123895
63551
63552
63570
63574
63583
116256
63598
63609
63627
64188
63659
63685
63697
224221
63719
63726
63729
114971
63764
63776
63777
211688
206854
64220
64222
117732
221831
63828
119654
121763
63839
63847
114035
63871
209899
63885
63892
63909
63912
114823
63924
63943
64240
64242
64244
64246
63973
64011
231415
64023
64029
64044
64066
100967
71951
71954
71958
71964
18720
21853
89972
105311
37832
104928
34954
46503
19788
34957
21858
72004
100969
72012
72018
34958
72031
46504
34962
26655
41567
89447
49805
72040
72043
72045
34970
41632
49806
89451
72051
49810
19798
46581
46582
35019
41644
19792
72115
72116
34983
72061
35026
105166
35028
72065
72068
23617
72073
72118
41597
19794
46586
24554
35032
35033
41603
43664
23620
72084
46551
34994
34996
5917
5918
5919
5920
5921
5922
5923
5924
5925
5926
5927
5928
5929
5930
5931
5932
5933
5934
5935
5936
5937
5938
5939
5940
5941
5942
5943
5944
5945
5946
5947
5948
5949
5950
5951
5952
5953
5954
5955
5956
5957
5958
5959
5960
5961
5962
5963
5964
5965
5966
5967
5968
5969
5970
5971
5972
5973
5974
5975
5976
5977
5978
5979
5980
5981
5982
5983
5984
64081
124484
64090
64091
64102
64103
64115
64120
64131
211034
64148
64182
64271
64285
64327
64348
64365
64373
64377
64402
64407
216550
213869
64447
220278
64485
64505
64515
208854
230483
64575
230203
64639
229553
64642
228504
64649
64678
64699
64710
64751
64713
214499
64721
219890
207753
221827
64788
120997
64795
210582
64805
64806
64808
64814
64822
64823
64828
64831
64838
64842
64848
64849
64853
64924
64942
64943
65000
46559
72126
23622
37842
104930
35000
41620
46563
46565
72128
35006
72108
30651
35045
89483
35047
105073
72165
28900
41664
92568
46609
72202
72190
35055
72210
35059
46610
28907
92570
72229
28910
72256
72257
26673
35065
14211
94485
28912
72274
72286
72275
35073
41679
72299
72307
72308
72311
72313
72315
105313
46613
46614
46616
72323
72326
35078
100997
72329
26678
72333
72334
72335
72337
41687
104731
104937
41703
Miri Grace Nansah
Missa Risikat Ayoka
Mitaire & Sons
Mjiu Ventures
Mkpat Akonsin
Mmaduka Emeka Godwin
Mmogbo Christopher Nnonyelu
Mobi Emmanuel
Mobolaji & Adeshola Mos - Shogbamimu
Modi Esther
Modibbo Ahmadu
Modibbo Aishatu Inno
Modibbo Garba
Modibbo Mahmoud
Moemeke Oseh Jude
Moemenam Onyekachi
Moeteke Augusta Chukwudiebele
Moga Anthony
Mogaji Bisola Oluwaseun
Mogaji Margaret Obafunmike
Mogbolu Isaac Issac
Mogbolu Josephine
Mohammad Abdul
Mohammad Kabir Dodo
Mohammed
1 Kabiru Bala
Mohammed Abdullahi
Mohammed Abubarar
Mohammed Ademola Saheed
Mohammed Aderemi Isiaka
Mohammed Al-ameen Bala
Mohammed Ali
Mohammed Ali Adam
Mohammed Ali Yahaya
Mohammed Babatunde Azeez
Mohammed Bashiru
Mohammed Bashiru Olayiwola
Mohammed Bolanta Shittu
Mohammed Chubado Halima
Mohammed Daneji Haruna
Mohammed Dangote Flour Mills Mansur
Mohammed Danjuma Mohammed
Mohammed Fatimah Inya
Mohammed Gaddafi Abubakar
Mohammed Garba Abubakar
Mohammed Habib Yusuf
Mohammed Habibat
Mohammed Hafsat Abubakar Sadiq
Mohammed Hajiya Aishetu Iyoma
Mohammed Hassan Dama
Mohammed Hassana Bello
Mohammed Ibrahim Adisa
Mohammed Ibrahim Oluyemi
Mohammed Ishaq
Mohammed Ismaila
Mohammed Jallo
Mohammed Jamila Aliyu
Mohammed Karimu
Mohammed Labbo Abdurrahman
Mohammed Laya Ahmed
Mohammed Loko Ramatu
Mohammed Mamman Audu
Mohammed Maryam Aliko
Mohammed Namarka Buzu
Mohammed Nasir
Mohammed Nurudeen Hussain
Mohammed Onotu Hamzah
Mohammed Saadia
Mohammed Saliu
About Us
Mohammed Shehu
Mohammed Sherifat Bimbo
Mohammed Shittu Zalli
Mohammed Shuaibu
Mohammed Tanimu Nasidi
Mohammed Tauhid
Mohammed Umar
Mohammed Umar Bose
Mohammed Usman
Mohammed Wasulu Emmanuel
Mohammed Yahaya Sheshi
Mohammed Zubaru
Mohammed-aminu Hassan
Mohd Bello Yusuf
Mokwa Isah Alhaji Isah
Molokwu Michael
Momammed Fati Abubakar
Momodu Christabel Rabietu
Momodu Grace Ikpemhinoghena
Momoh Aisha
Momoh Aliyu
Momoh Henry
Momoh Kamoru
Momoh Mukhtar Mutari
Momoh Umar Faruq
Monday Maxwell Etuk-udo
Moneke Sydney Igboanugo
Monguno Khadija Sanusi
Moni Mike Modesty
Monisola Owofemi
Moore Omotayo Oladipo
Mordi Iyke Lawrence
Mordi Obinwanne Desmond
Mordi Okolie Helen
Mordi Peace Ngozi
Morethangold Limited
Morgan Adebowale Omotayo
Moronfolu Tirimisiyu Tunde
Morris-okojie O Osebhajaje
Moseri Stella Uka
Moses Adebamigbe
Moses Bala Nashal
Moses Daniel Florence
Moses Ezra
Mosobalaje Rasheed Adebayo
Mosuro Isiaka Olukayode
Mosuro Tokunbo Bilkis
Motayo Theophilus Olujimi
Motherlink Enterprises
Motunde Sina
Motunrayo O Magregor
Mowette George
Mowette John
Mowette Paul
Moyegun Rasaq Ishola
Mpama Lucky Nwosu
Mpani Hakimi
Mr Olaniyi Jacob Oladoye
Mr & Mrs Idowu Kayode O. & Funmilayo V.
Mr Ajulo Joseph Kolawole
Mr Amaechi Godwill Ibe
Mr Edu Basit Adeola
Mr Eke Ogbonnaya Idumah
Mr Ezeani Ositadimma Edwin
Mshelia Hauwa Suzanne
Mssn Udu Sok Chapter
Mt Liman Sakinatu
Muazu Aliyu Mandiya
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
7
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
5985
5986
5987
5988
5989
5990
5991
5992
5993
5994
5995
5996
5997
5998
5999
6000
6001
6002
6003
6004
6005
6006
6007
6008
6009
6010
6011
6012
6013
6014
6015
6016
6017
6018
6019
6020
6021
6022
6023
6024
6025
6026
6027
6028
6029
6030
6031
6032
6033
6034
6035
6036
6037
6038
6039
6040
6041
6042
6043
6044
6045
6046
6047
6048
6049
6050
6051
6052
64975
64991
64976
64980
65008
65075
206329
120249
65089
65100
65105
116247
65110
65123
65132
65141
218301
65154
65164
65179
65184
113459
213663
117298
65214
65219
215742
65222
208327
65332
65251
65334
65258
65262
65442
209406
65381
65387
65393
65395
65404
114169
65421
65422
65465
220137
65482
65500
65505
216038
65511
65515
65521
120739
223286
65535
65555
65557
65572
219633
65584
65603
65604
223868
219195
65629
65640
206181
37855
101000
89981
41696
72363
46639
46692
41732
21884
103320
28917
46695
41720
41721
21887
41724
46703
37857
89495
21888
72382
46708
104940
41734
46670
46672
89987
72385
46716
46723
41729
104738
101024
35103
89504
72410
92581
46736
72396
23633
72397
35136
48832
72405
41745
46758
94494
41747
35141
46772
46763
46766
46768
30660
26686
72426
104742
72431
18726
92582
41753
26687
26688
72445
72447
72454
21905
35156
6053
6054
6055
6056
6057
6058
6059
6060
6061
6062
6063
6064
6065
6066
6067
6068
6069
6070
6071
6072
6073
6074
6075
6076
6077
6078
6079
6080
6081
6082
6083
6084
6085
6086
6087
6088
6089
6090
6091
6092
6093
6094
6095
6096
6097
6098
6099
6100
6101
6102
6103
6104
6105
6106
6107
6108
6109
6110
6111
6112
6113
6114
6115
6116
6117
6118
6119
6120
65658
219778
65676
113441
222780
65692
66096
206998
65701
65706
65708
65714
223374
65721
65725
66107
65733
65748
65751
65767
65811
65815
65823
212285
65865
122271
208928
65880
65883
65893
229784
66139
65912
65928
65952
65960
65988
65995
213098
208550
66010
66017
66033
66039
66065
66150
209309
218603
207927
66094
224478
66175
66188
66193
118342
66201
66204
66238
66272
208276
66274
221589
66280
66289
224479
221674
66349
66379
72469
92584
103325
103326
105175
72479
26693
46844
35158
72481
35159
103327
35188
72484
46796
35190
46798
48842
101041
35163
12230
46813
43675
46850
101048
35198
23642
20349
72498
72501
72504
72531
46828
13419
104745
26691
35178
89991
46859
35207
35181
89993
72518
41789
24574
46861
72539
19818
101065
46840
35211
72543
72549
46867
72556
35212
24578
35213
103339
46886
41825
72600
72577
72581
72584
49843
97683
46890
Muazu Mohammed Hassan
Mu'azu Muhammad Auwal
Muazu Muhammad Tukur
Muazu Rukayyat
Muchel Taiwo Ashley
Muhammad Abubakar Garba
Muhammad Abubakar Kankarofi
Muhammad Ahmad
Muhammad Ahmad Alliu
Muhammad Ali Bachi
Muhammad Amatul-manan Luqman
Muhammad Amina Bello
Muhammad Aminu
Muhammad Bello
Muhammad Eurera Ado
Muhammad Garba Tsauni
Muhammad Hadejia Haruna
Muhammad Hassan Gombe
Muhammad Ibrahim
Muhammad Isa Mikailu
Muhammad Jaafar
Muhammad Jafaru Sule
Muhammad Kawuwa
Muhammad Lawal
Muhammad Mukhtar Mukhtar
Muhammad Mustapha Chado
Muhammad Nasir S. Saleh
Muhammad Nasiruddeen Abdulrah Eem
Muhammad Salihi Sa'adatu
Muhammad Sharada Bello
Muhammad Shuaibu Umar
Muhammad Tsoho Ibrahim
Muhammad Umar
Muhammad Umar Pairs
Muhammed Alfah Abdullahi
Muhammed Basheer Zakariyah
Muhammed Ganiyat Adesola
Muhammed Hauwau Iyabo
Muhammed Idris Mustapha
Muhammed Isa Wabi
Muhammed Lookman
Muhammed Nasir Hauwa
Muhammed Rahama
Muhammed Ramatu
Muhhmmed Muftahu Ademola
Muhmmadu Ahmad Adam
Muili Wasiu Adekunle
Mukhtar Abdullah
Mukhtar Fatima Shitu
Mukhtar Hadiza.
Mukhtar Hassana Ibrahim
Mukhtar Ismat
Mukhtar Salihat
Muko Onyebuchi Okoro
Mukolu Uzoma Reginald
Mukoro Donald Oghenekaro
Muktar Magori Binta
Mulero Abayomi Abiola
Mumonye Josephine Chika
Mumuney Oluwatoyin Victoria
Mundi Hauwa
Munonye Ifeanyi
Munonye Nkiruka
Muogbo Uche Yvonne
Muoghalu Augustina .o
Muojiokwu Iheanyi Cyprian
Muomah Gloria Chinyere
Muomaife Muofe Eucharia
ANNUAL REPORT
2014
Murele Samson Oyedepo
Muritala Musibau
Murphy Margaret Ujugbo
Murray-bruce Francis
Murtala Aishatu
Murtala Suleiman
Musa Mr Sule
Musa Abdulhasib
Musa Abdulkadir
Musa Abdullah Oluwalolope
Musa Abdullahi
Musa Abdullahi Kabo
Musa Abdullahi Nuratu
Musa Abdurrahman Oluwatomi Sin
Musa Abubakar
Musa Adamu Abubakar
Musa Ahmed Suleiman
Musa Aminu Rafinoadi
Musa Angut Apollos
Musa Benjamin Musa Gajere
Musa Fatima Ladi
Musa Gali Tijjani
Musa Habibu
Musa Halima
Musa Ibrahim Sale
Musa Idris Fika
Musa Imam Gololo
Musa Isah Umar
Musa Ismail Akin
Musa Kabir
Musa Lawal
Musa Lawal Ann Omohu
Musa Lawal Maidaga
Musa Maryam Mohammed
Musa Momoh
Musa Muhammed Alhaji
Musa Paul Nyigyeyi
Musa Rabiu
Musa Sadisu Abubakar
Musa Safiya Hayatu .h
Musa Safiyanu
Musa Salamatu Umar
Musa Shehu
Musa Solomon
Musa Usman
Musa Usman Daura
Musa Victoria Stephen
Musa Yusuf
Musa Zainab Alkasim
Musa Zangina
Musa-dauda Kudirat Oladunke
Muse Taiwo Adelola Nurai N
Musiliu Ramoni
Muslim Students Society Of Nig. Buk Chapter
Muslim Students' Society Of Nigeria
Mustafa Fatima Abdulsalam
Mustafa Kime
Mustapha Aishatu
Mustapha Hawna Tinuola
Mustapha Hudu Aminu
Mustapha Hussain Olarewaju
Mustapha Ibrahim Akinwunmi
Mustapha Ibrahim Tosin
Mustapha Kazeem Lusty
Mustapha Meimunat Oyinlola
Mustapha Olaniyi Musbau
Mustapha Saratu
Mustapha U Usman
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
6121
6122
6123
6124
6125
6126
6127
6128
6129
6130
6131
6132
6133
6134
6135
6136
6137
6138
6139
6140
6141
6142
6143
6144
6145
6146
6147
6148
6149
6150
6151
6152
6153
6154
6155
6156
6157
6158
6159
6160
6161
6162
6163
6164
6165
6166
6167
6168
6169
6170
6171
6172
6173
6174
6175
6176
6177
6178
6179
6180
6181
6182
6183
6184
6185
6186
6187
6188
220102
213155
216336
66425
66426
66427
66428
66430
66443
66448
66451
66452
66479
66480
66481
123729
66494
66495
66501
66503
66510
66521
66531
66536
66550
66551
230372
66556
66594
66601
66600
66622
66631
66642
111313
66676
66704
224804
66724
213923
217547
215914
217661
217005
221906
214496
66826
66831
66844
66851
66855
66861
66869
66870
66880
66906
66907
66915
66925
66929
66934
66942
66943
66969
232552
232553
66977
217080
19824
72606
26695
101075
101076
101077
101078
72613
46897
46899
38905
104749
101082
72619
41842
46907
41843
41844
41845
46909
41850
72623
46914
72627
46919
46920
72634
101085
101087
72644
26697
26698
72655
101100
35241
41861
46955
97693
35245
23648
46964
72673
72675
72683
30662
35254
35256
20351
26702
30664
35259
101101
35261
30666
72700
21928
21929
24600
30671
35264
72713
28931
30672
35267
104759
104760
24603
72726
6189
6190
6191
6192
6193
6194
6195
6196
6197
6198
6199
6200
6201
6202
6203
6204
6205
6206
6207
6208
6209
6210
6211
6212
6213
6214
6215
6216
6217
6218
6219
6220
6221
6222
6223
6224
6225
6226
6227
6228
6229
6230
6231
6232
6233
6234
6235
6236
6237
6238
6239
6240
6241
6242
6243
6244
6245
6246
6247
6248
6249
6250
6251
6252
6253
6254
6255
6256
66994
118459
67009
67099
67016
67035
212923
67093
67101
67103
67110
209875
67128
67130
116208
212080
67234
67248
224654
121657
221476
67274
67280
67289
67294
124298
120665
212516
67333
209150
214558
67357
67360
67361
67374
67411
215803
67421
67423
222757
67440
67457
67458
67464
67466
67467
216796
67482
67485
221688
67518
67538
67550
121549
229172
67594
210490
67620
67628
67629
67630
115117
224805
67690
232324
67739
67742
67745
21933
72738
26708
72742
72743
38367
72754
38368
72760
101107
72766
72771
30678
12242
35272
72805
35280
72809
30691
30694
30695
103372
72819
35285
72821
72822
72828
72831
72832
35288
18744
72836
72838
72840
35291
11253
72854
72857
72859
30701
38380
72866
72867
72870
72871
72872
35303
38384
35300
72908
35301
72893
103387
72917
72925
72929
72931
72932
72935
72936
72937
21954
26723
18756
26726
21960
72981
18758
Mustapha Umar Mohammed
Mutalib Saliu
Mutual Vantage Nig Ltd
Mweltok Jwanshak
Mweltok Lepnaan
Mweltok Naanalong
Mweltok Naandi
Mwo Ender Godwin Akpan
Naabba Binta Hamisu
Naabba Suleiman Nuhu
Naabo Ahmadu
Na'abu Dauda Silame
Nabaka Elizabeth
Nabeeha M. Tijani
Nabeel Mohammed Umar
Nabegu Musa Mohammad
Nadabo Abubakar Samu
Nadabo Ahmad Samu
Nadabo Khadija Samu
Nadabo Sani
Nadama Garba Fatima
Nafiu Isiaka Alani
Nafiu Magadi Abba
Nagbo Barinua
Naharu Zakari Maikusa Maryam Yusra
Naharu Zakari Maikusa Nafisatu
Nahman Nabil
Naiya Sani
Namo Victoria Isaac
Nana Regina
Nana Tsemisan
Nanna Omayone Itseoritse
Nariwoh Folusho Kingsley
Nasarawa Baptist Church
Nasidi Jummai Maijiddah
Nasir Mohammed
Nasiru Jamilu
Nasiru Mufutau Afolabi
Nasiru Umar Binta
Nat Assoc. Of Catho. Cors Members
Nata`ala Fatima Mohd
Nathan Ifeoma Warmet
Nathaniel Ajibola Aliyu
Nchuchuwe Austine
Ndaguba Stella
Ndaliman Mohammed Gana
Ndanusa Aishatu
Ndarake Godwin Mkpatat
Ndeche Vincent Okey
Ndefo Joseph Chinedum
Ndekhedekhe Lucy Edeke
Nden Keziah John
Ndibe Caroline Ngozi
Ndibe Chukwueloka Samuel
Ndifon Abang Nicholas
Ndiwe Edward Achike
Ndiwe Francisca Ekwunife
Ndoma Manyo Adidi
Ndu Ernest Ezewulu Ndu
Ndu Obinna
Nduaguba Chukwudi Anthony
Ndubilo Faith
Ndubisi Anuli Afoma
Ndubuisi James Ignatius
Ndubuisi Nkiruka Umeh
Ndubuisi Nonso
Ndubuisi Walter C
Ndubuka Stella Onyekwuzunma
About Us
Nduka Beniah Tabugbo
Nduka Edith Onyechi
Nduka Pascal Emeke
Nduka-eze Mark Anthony
Nduka-eze Nnamdi
Ndukwe Chidinma
Ndukwe Onyema
Ndukwu Augustina Ngozi
Ndulor Austin Chimaobi
Ndulue Blessing Uche
Ndulue Joy Uche
Ndum Onyebuchi Chrstopher
Nebe Samuel Ikechukwu
Nebeolisa Gregory Izuchukwu
Nebolisa Anozie
Newbeach Martina Pere
Nfofa Ngonda Ethel
Nganigo Lucky Clement
Ngene Amuche Ann
Ngene Chukwuma Innocent
Ngene Ikechukwu Christopher
Ngene Okokoafor
Ngezelonye Alda Eziuno
Ngidi George Chiedu
Ngini Chukwuma Uche
Ngoboh Bomie Sarah
Ngoka Chidi
Ngozi Rosemary Okechukwu
Ngozichukwu Uchechukwu Chibunna
Ngubane Gladys Pwanedo
Ngwakwe Nnadozie Charles
Ngwube Mildred Ogechi
Ngwuta Peter Onyema
Niamecof International Ltd
Nicodemus Felicia
Nina-davito
Ninis Emanueella
Niyi Olufemi Arogundade
Niyi-olaiya Funmilayo Mulikat
Njemanze Patience Kay
Njezi Ifeanyichukwu Barthol Omew
Njokanma Chioma Claire
Njokanma Chukwuemeka Daniel
Njokanma Obinna Dennis
Njokanma Uchenna Anthony
Njokanma Ursula Osondu
Njoku Chelsy Chesachi
Njoku Chima
Njoku Chukwudi
Njoku Godwin Ifeanyi
Njoku Justina Onyemaechi
Njoku Ogechi Immaculeta
Njoku Rosemary
Njuru Uchechi Euphemia (mrs)
Nkanga Efem Roselyn
Nkanga-olomola Utibe-abasi
Nke Anyi Thrift & Credit Coop
Nkechi Blessing Mattew
Nkem-ajoku Gabrielle Nkemafor
Nkem-ajoku Habiba Margaret
Nkem-ajoku Stephanie Nwugo
Nkemakolam Paul Challenge
Nkpaji Ifunanya Polly
Nkpozi Cordelia E
Nmadu Chukwuemeka Micheal
Nmakamma Tobechukwu Dorathy
Nmakwe Janet Ekatte
Nmaokocha Don Richard
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
6257
6258
6259
6260
6261
6262
6263
6264
6265
6266
6267
6268
6269
6270
6271
6272
6273
6274
6275
6276
6277
6278
6279
6280
6281
6282
6283
6284
6285
6286
6287
6288
6289
6290
6291
6292
6293
6294
6295
6296
6297
6298
6299
6300
6301
6302
6303
6304
6305
6306
6307
6308
6309
6310
6311
6312
6313
6314
6315
6316
6317
6318
6319
6320
6321
6322
6323
6324
67758
216543
67769
211035
67775
67781
221811
222465
67794
67800
67807
67815
67831
67843
67850
224340
230116
67860
67876
67877
67884
67886
67891
67901
67903
67912
112941
121829
67931
67942
206615
67956
67957
67970
67977
67983
227103
68006
68007
68054
68057
228044
68060
68067
68086
68105
68111
228204
68141
112626
68155
68163
68184
68185
68186
68204
68218
68232
218438
68294
68321
114983
218903
228465
68396
123579
222138
68447
26727
103398
30711
18763
18762
72990
21965
103400
72993
35317
30715
72999
21968
73019
103402
21973
30719
30720
35320
35321
26728
103404
30727
73037
73038
101130
73046
21978
73056
101132
30738
41906
30734
30739
30740
35326
35327
18770
73072
73088
73090
73091
73092
73096
73107
97703
73116
38418
73125
26735
73133
101133
18773
18774
18775
73153
21996
73160
73166
35343
30749
103424
47003
26746
103426
73200
22002
73207
6325
6326
6327
6328
6329
6330
6331
6332
6333
6334
6335
6336
6337
6338
6339
6340
6341
6342
6343
6344
6345
6346
6347
6348
6349
6350
6351
6352
6353
6354
6355
6356
6357
6358
6359
6360
6361
6362
6363
6364
6365
6366
6367
6368
6369
6370
6371
6372
6373
6374
6375
6376
6377
6378
6379
6380
6381
6382
6383
6384
6385
6386
6387
6388
6389
6390
6391
6392
68449
215572
119551
219070
215265
225950
68532
68543
68560
68583
209329
68604
206587
68608
68633
68635
68641
68642
68643
229929
68674
219163
122291
68733
224406
216050
68743
68775
68778
68790
68800
68805
68838
68860
68869
68880
68897
124400
68903
68952
68962
232355
210994
68978
68984
208699
231229
117820
69023
69025
69036
69055
69061
69069
123281
120829
69115
217918
69117
69151
69154
69173
69185
212647
69187
69191
69193
69197
18779
103428
73220
73284
73285
73242
38424
73248
26754
97709
73290
90724
35364
22015
73276
22019
103434
18785
22020
47007
35366
38432
30760
35369
73324
26762
18793
24614
90726
35370
47009
18798
73350
73359
18803
22045
73371
38436
73374
26768
28952
22053
47010
73399
73401
73403
73408
35384
38439
2528
18813
38441
27874
22063
30778
30779
14239
73452
73451
22072
35395
18821
18823
73492
73468
89539
103459
30783
Nmor Ekei Frederick
Nnaa Henry Achinike
Nnabueny1 Chima Henry
Nnabugwu Celestine Onyeka
Nnabugwu Evans Nonyelum
Nnabuife Kerian Ikechukwu
Nnabuike Umeugo Chukwu Moses
Nnadede Kasarachi Sylvester
Nnadi Anthony
Nnadi Collins Obiora
Nnadi Eugene Ibezimako
Nnadi Kevin Nnaemeka
Nnadozie Onyedika Madubuko
Nnaemeka Derrick
Nnah Udoh Augustine
Nnajekwu Benjamin Dozie
Nnaji Bernadette Chineye
Nnaji Chijioke Anih
Nnaji Joy Ifeoma
Nnaji Joy Ifeoma
Nnaji Nereus Ndubuisi
Nnaji Nkechi Priscilla
Nnaji Osita Chijioke
Nnajieme Grace Adadinma Mrs
Nnajiofor Beatrice
Nnaka Sandra Ijeoma
Nnakwe Emmanuel Nworah
Nnalue Augustine Ikechukwu
Nnama Chukwudubem Joel
Nnamani Edwin And Chino
Nnamani Emmanuel Michael
Nnamani Patricia Jane N.
Nnamani Peter Omaba
Nnamchi Christiana Ijeoma
Nnamchi Victor Nnaemeka
Nnamdi Eucharia
Nnamdi Ezeokoli
Nnanna Ijeoma
Nnanna Israel Ibe
Nneji Gloria Nneoma
Nneji Nwalozie
Nneji Priscilla Chizoma
Nneji Reinert Chinenye
Nnenweke Obaji
Nnodu Charity Ogochukwu
Nnolum Benson Uzodima
Nnopuechi Stella
Nnorom Chibuzor Chris
Noah Osatohanmwen Michael
Noah Prince Terry
Noibi Olanrewaju Hidayat
Nokshwan Plangnan Sintiki
Norbert Chigozie Mathias
Norbert Emeka Gregory
Norbert Ogochukwu Christogonu S
Nosiru Lateefah Omobolanle
Nriaka Francisca Ngozi
Nsiegbunam Christiana Chinwendu
Nsuhuye Maxwell Effiong
Nuhu Andrew
Nuhu Yohanna Sake
Numbere Numberye P.f
Nura Mallam
Nwabudike Ngozi Patriciai
Nwabudike Udoka Ubald
Nwabueze Kingsley Kenechukwu
Nwabueze Uju Miracle
Nwabuisi Austin Nyemike
ANNUAL REPORT
2014
Nwabuko Sunday Onyebuchi
Nwabunike Felix Nwaokoye
Nwachi Rita Ifeyinwa
Nwachukwu Chinwe Ojuolape
Nwachukwu Christie
Nwachukwu Dorothy O.
Nwachukwu Elesius Chukwunyere
Nwachukwu Ezefunna
Nwachukwu Ijeoma Eucharia
Nwachukwu Kingsley Ugo
Nwachukwu Mercy
Nwachukwu Obiageri Josephine
Nwachukwu Ogbonnaya & Chika (mr & Mrs)
Nwachukwu Okey
Nwachukwu Samuel
Nwachukwu Samuel Onyemauche
Nwachukwu Sunny Uchey
Nwachukwu Thelma Akudo
Nwachukwu Theodor Izunna
Nwadibia Francis Okechukwu
Nwadiegwu Joy Adanma
Nwadinigwe Ifeoma Georgian
Nwaegerue Chibuike Dickson - Imf
Nwaeobch Chinelo Pauline
Nwaeze Charity Ifeoma
Nwaeze Emmanuel Azuobi
Nwaeze Ikechukwu
Nwafor Emmanuel Uchechukwu O Nyeb
Nwafor Gbinali
Nwafor Joy Ngozi
Nwafor Nwakamma Mark
Nwafor Paul Chukwudi
Nwagbo Karen Onyinyechi
Nwagu Chukwuemeka
Nwaguru Onyenkwere Christian
Nwagwu Joy Chinasa
Nwaigwe Chinasa Florence
Nwaigwe Henry Ifeanyi
Nwaigwe Onyeka Glory
Nwajei Nkiru Bridget
Nwajiaku Godwin Chuks
Nwajinka Osita
Nwajiofor Ifeanyi
Nwajuaku Ogochukhu Ifeoma
Nwakaibe Charles Onyema
Nwakalor Chidinma Mary
Nwakanma Iheanyi
Nwakor Udechukwu C.
Nwakwue Chukwunyere Nwanevu
Nwakwue Oluchi
Nwalie Chukwudi Emmanuel
Nwambara No Ngozi Ursula
Nwamkpa Steve Emenike
Nwana Stella Chizoba
Nwandiogo Ugochukwu
Nwaneri Ikechukwu Simeon
Nwangoro Otitodirichukwu
Nwanguma Berna Ebere
Nwanguma Chinedu Peter
Nwani James Mgbosoluchukwu
Nwani Sunday
Nwankudu Precious Chinyere
Nwankwo Beneth Achufusi
Nwankwo Caroline Iwebunor
Nwankwo Caroline Nkechi
Nwankwo Charles Monday
Nwankwo Chigaemzu Thankgod
Nwankwo Chinaemerem David
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
6393
6394
6395
6396
6397
6398
6399
6400
6401
6402
6403
6404
6405
6406
6407
6408
6409
6410
6411
6412
6413
6414
6415
6416
6417
6418
6419
6420
6421
6422
6423
6424
6425
6426
6427
6428
6429
6430
6431
6432
6433
6434
6435
6436
6437
6438
6439
6440
6441
6442
6443
6444
6445
6446
6447
6448
6449
6450
6451
6452
6453
6454
6455
6456
6457
6458
6459
6460
69199
69219
69222
69226
69237
69243
215312
212648
69263
211121
69310
69334
69336
69337
69349
206692
69359
69380
69381
69392
69393
69402
69408
69409
69410
222344
69446
69450
69454
69456
122895
69498
215502
69540
212470
232193
69570
226603
69580
69582
69595
225466
69599
118194
226604
69618
69623
232157
205716
69635
69647
69659
69664
69665
207981
69693
69710
69713
231704
69731
69736
69762
214341
122218
69778
124282
219355
224877
30784
38450
14241
22081
22084
73474
101148
73496
22090
30792
73500
30794
22099
6361
18829
13150
103462
18831
103467
26776
23654
73534
73536
97719
73539
28956
22106
22108
73558
73559
73561
73573
103480
73588
30803
103484
35411
73596
27880
73598
103488
101156
27881
73612
73609
27882
73615
73616
18843
22119
38458
105322
22121
73631
73634
22123
73654
30809
73660
30811
73664
73672
73680
73681
73678
73682
103504
22134
6461
6462
6463
6464
6465
6466
6467
6468
6469
6470
6471
6472
6473
6474
6475
6476
6477
6478
6479
6480
6481
6482
6483
6484
6485
6486
6487
6488
6489
6490
6491
6492
6493
6494
6495
6496
6497
6498
6499
6500
6501
6502
6503
6504
6505
6506
6507
6508
6509
6510
6511
6512
6513
6514
6515
6516
6517
6518
6519
6520
6521
6522
6523
6524
6525
6526
6527
6528
122364
69852
69853
69871
221327
69877
69878
69902
69903
69934
69939
69950
228770
69969
228205
228046
70004
66432
70022
230070
121508
70054
230068
225952
70081
230071
117927
70100
124129
230072
70185
70188
70190
70193
218752
70229
70234
230698
70249
70253
70267
70279
70284
70292
70295
214684
70309
118439
70335
217903
70358
70363
70381
118310
124638
119256
70399
215341
70417
124257
70455
70457
224480
212205
70481
70476
70491
70504
103505
73699
22139
28964
22142
38469
35427
38472
73714
35432
26783
18868
30821
22150
35437
35436
28966
22156
22157
22158
73800
18873
22165
22166
73766
22168
30835
73771
38482
22179
73788
11691
22182
73790
35449
38483
73811
35451
73818
22190
30838
22192
22193
73830
73831
73836
101168
35456
73841
82
18883
22196
73858
73864
30843
73868
18885
28971
22203
73878
28973
28974
28975
73891
73901
73899
73907
73913
Nwankwo Chinwendu Boniface
Nwankwo Emeka Obiora
Nwankwo Emmanuel Amobi
Nwankwo Emmanuel Ilo
Nwankwo Frank Kenechukwu
Nwankwo Grace Nma
Nwankwo Ifeoma Doreen
Nwankwo Kenneth Nwafea
Nwankwo Ndidi Martina
Nwankwo Ujuakwa Jane
Nwankwor Collins
Nwanne Uchenna Steve
Nwanneneme Christian Ozoemena
Nwanneneme Emmanuel James
Nwantanya George Ifeanyi
Nwanyanwu Bernardette
Nwanze Bridget Ofunne Nkeiru
Nwaobia Chibunna.e.
Nwaobia Chinedum Charles
Nwaodume Moses Onwazu
Nwaoga John Nwaliobu
Nwaogu Newman Chibueze
Nwaogu Victoria.i
Nwaogwugwu Chinyere John
Nwaogwugwu Livinus
Nwaokolobia Ifeyinwa Rosemary
Nwaopara Friday Okechukwu
Nwaorgu Azubike Romanus
Nwaorgu Mary Adannaya
Nwaosa Cordialia Nkechi
Nwaoshai Ameshi Michael
Nwato Moses Udochukwu
Nwawuike Chinedu Canice
Nwazuonwe Celestine Easter
Nwefoh Emeka Chinweuba
Nweje Esther Ezinne
Nweke Chineze Iruoma
Nweke Emeka Raymond
Nweke Emmanuel Obiora
Nweke Florence Ewomazino
Nweke Marylinda Nwakaego
Nweke Ndubuisi
Nweke Osinachi P.
Nweke Patricia Ngozi
Nweke Walter Maduaduchie
Nwene Godson Chita
Nwenyi Chisom Victoria
Nwevo Chinenye Augusta
Nweze Jonathan Ugochukwu
Nwibe Leticia Obiageli
Nwigwe Obiyo Chigozie
Nwiloh Jonathan
Nwinyi Kenneth Okechukwu
Nwire Christopher Nwabueze
Nwiya Chika Spiff
Nwobi Okechukwu Jeffrey
Nwobodo Innocent Okorie
Nwobodo Ndubuisi
Nwobu Edison Chukwuemeka
Nwodo Adaobi
Nwodo Ifeoma
Nwogu Bright Ugunna
Nwogu Geraldine Amuche
Nwogu Ngozi
Nwogu Onyebuchi
Nwogu Samuel Ulonnam
Nwoke Chibuzo Mabel
Nwoke Maureen Njideka
About Us
Nwokedi Ngozi Charity
Nwokediba Chika Felicia
Operational
Nwokeforo Cajetan
Review
Nwokike Eunice Ijeaku
Nwokike Vero Oluchukwu Nwakego
Nwoko Christopher Ikpe Amad I
Corporate
Nwoko Ejike Alexius
Governance
Nwokocha Ugochi
Nwokocha Ugonna
Nwokolo Evan Uju
Financial
Nwokolo Mabel Ogugua
Statements
Nwokoma Fortune
Nwokoye Anosike Tochukwu
Nwokoye Ifesinachi Daniel
Nwonyuku Nnanna Kalu
Nwonyuku Nnanna Kalu
Nworgu Zuleikha Abdulrahm An
Nwose Azuka Nkechi
Nwose Eunice Ebere
Nwosu Adaobi Ine
Nwosu Angelina
Nwosu Brecwaits Okwudire
Nwosu Chidinma Jenny
Nwosu Chigozie
Nwosu Chinyere Barbara
Nwosu Chinyere Jane
Nwosu Chukwuka Ped
Nwosu Daniel Ikechukwu
Nwosu Ngozi Nathan (mr)
Nwosu Nneka Cindy
Nwosu Osinachi Chinedu
Nwosu Paulinus Orakwue
Nwosu Promise Echezonachi
Nwosu Stanley Ifeanyi
Nwosu-orue Ogechi Chinonye
Nwosy Hillary Chuks
Nwoye Anthony
Nwoye Nnenna Vivian
Nwozor Justine Emeka Obio Ra
Nwuba Ekene Chikodili
Nwugwu Matthias Mmadukihe
Nwuneli Anthony Chikelue
Nwuzoh Godfrey Chukwuemeka
Nyah .a .matthew
Nyah Uduak
Nyang Joseph Abel
Nyango Peter Pam
Nyisana Reumah Yemi
Nyong Ita Effiong
Nzeako Chikelue Obike Francis
Nzeako Eucharius Chukwudi
Nzeakor John
Nzei Ifeoma Joy
Nzekwe Maxwell
Nzekwe Obinna
Nzenwa Lilian Nkechinyere
Nzepuome Ikechukwu Charles
Nzerue Stella Ego
Nzewi Godson Chukwugozie
Nzomiwu Esther Uzoamaka
Oaiya Ehigiator
Oaiya Omokhodion
Oamen Omoaluse Grace
Oamen Patience Edewede
Oba Abdullahi Abdulrasheed Oladele
Oba Mutiat Olaronke
Obabi-olorunkosi Oluwagbemisola Aderin Ola
Obadan Theresa Adenike
ANNUAL REPORT
2014
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
6529
6530
6531
6532
6533
6534
6535
6536
6537
6538
6539
6540
6541
6542
6543
6544
6545
6546
6547
6548
6549
6550
6551
6552
6553
6554
6555
6556
6557
6558
6559
6560
6561
6562
6563
6564
6565
6566
6567
6568
6569
6570
6571
6572
6573
6574
6575
6576
6577
6578
6579
6580
6581
6582
6583
6584
6585
6586
6587
6588
6589
6590
6591
6592
6593
6594
6595
6596
70506
70526
70528
70541
70558
70572
70575
70599
70602
70609
207635
70613
70614
70615
70616
70631
119652
70639
70649
70655
70658
70660
70664
219706
70694
228793
228670
70721
70731
70738
210980
219376
70771
209010
70801
70803
229788
70823
70824
70854
232518
116028
70889
70902
225953
70946
70962
218366
71002
71003
119763
71018
71052
121186
71076
71189
231849
71116
120383
71131
71136
221141
215318
71169
232084
71195
218039
71201
41970
26794
73927
73933
41973
73946
73947
73957
22210
43686
73961
73964
73965
35468
35469
73970
73972
92607
104765
26797
73981
73982
73985
73991
73995
28982
74007
26800
74014
74017
92614
29837
103541
28985
74028
35482
103542
35483
24625
28991
74046
74055
74061
47023
28997
26805
35487
103551
26806
26807
74111
28999
74124
74172
38499
74174
18900
74143
74177
18901
22234
74183
101174
74161
25339
74188
74189
22246
6597
6598
6599
6600
6601
6602
6603
6604
6605
6606
6607
6608
6609
6610
6611
6612
6613
6614
6615
6616
6617
6618
6619
6620
6621
6622
6623
6624
6625
6626
6627
6628
6629
6630
6631
6632
6633
6634
6635
6636
6637
6638
6639
6640
6641
6642
6643
6644
6645
6646
6647
6648
6649
6650
6651
6652
6653
6654
6655
6656
6657
6658
6659
6660
6661
6662
6663
6664
119953
121671
71215
119819
71257
122112
71286
218597
71288
71292
71296
71328
71334
71355
71371
114145
71381
231350
71384
231712
120273
71393
216904
71407
71409
71410
71421
71449
71450
212243
71456
71474
118384
71481
71492
71527
71538
219331
117563
223246
71592
232342
71666
207064
71687
71703
212015
71710
113746
212076
71722
71748
71753
71757
217738
71783
213810
116161
121892
71819
71828
71854
71895
71898
71913
71933
71952
71972
35495
25340
74194
22251
35498
74211
22256
30853
47031
74225
26817
35504
22267
27889
26821
26822
6230
22276
74248
22278
74250
5205
74254
18909
74258
74259
35512
35515
35516
26823
18910
35518
22289
97755
74285
74292
74296
74312
30859
74319
103564
35528
35529
38516
22307
74363
74367
74369
74373
74374
12777
24863
20373
97764
30866
20375
74397
74402
74406
74407
26839
35539
74426
74428
74435
74438
35544
103580
Obadare Ebenezer
Obadiaru Josephine Osaruonaeme
Obadiegwu Ikechuknu Jude
Obadina Jonathan Adekunle
Obadofin Oluwatoyin
Obafemi Erinayooluwa
Obafemi Ireoluwakitan
Obagbemi Omotayo
Obagha Emmanuel Ude
Obagunla Victor
Obagunlu Sylvester Omokhodion
Obagwu Joseph
Obagwu Maria Owota
Obah Godson Onyemaechi
Obah Helen Nonso
Obaje Agada Junior Patrick
Obaje John Abah
Obaji Obaji Samuel Barnabas
Obajulu Ezekiel Ayo
Obajuwana Kesiena Belinda
Obaka Hassana Phebe
Obaka Ilemona Benjamin
Obakoya Adeniran
Obande Godwin Aboh
Obanile Clement Adedoyin
Obanor Jennifer Iyenoma
Obanure Olu Victor
Obareh Deborah Avwerosuoghen E
Obaro Jacob Omeiza
Obaromi Abosede Adetoun
Obasan Olayemi David
Obasanmi Eniola Bolajoko
Obaseki Efosa
Obaseki Samson
Obasi Ernest Anayochukwu
Obasi Evarist Oluchukwu
Obasi Florence .o
Obasi Obioha Osita
Obasi Ogadimma Kingsley
Obasuyi Elizabeth
Obataluonye Chukwuemeka Michael
Obawole Adewole
Obayelu Elizabeth
Obayemi Victoria Bose
Obazee Mike
Obazei Dominic Adim
Obe Onyeje
Obele Mercy Goya
Obemuhowho Joseph
Obemuhowho Josiah
Obeta Irene Nkechi
Obetoh Egiya Franca
Obi Chioma Laura
Obi Ebere
Obi Emeka
Obi Godwin Gregory
Obi Kizito Daberechi
Obi Kosisochukwu
Obi Ngozi Irene
Obi Njideka Angela
Obi Nonso Vin
Obi Paul Chukwudi
Obi Roseline Chilo
Obi Theodora Anulika
Obi Thomas Edum
Obia Julia Ada
Obia-amauwa Uchechi
Obiaeli Chukwudozie Christoph Er
ANNUAL REPORT
2014
Obiagwu Henry Chukwodi
Obiagwu Imelda Felix
Obiagwu Samuel Okwudili
Obiakor Ifeanyichukwu
Obiamalu Felix Chidozie
Obiamalu Reginald Ifeanyichukwu
Obiapuna Nneka Elizabeth
Obiasulu Nkechi Doris
Obiatu Anayo Paul
Obiazikwor Nkem Samuel
Obibi Ogheneovo Emmanuel
Obidike Celestina Chinyere
Obidike Jane Udelue
Obiefuna Christopher Chukwuney E
Obieh Sergeant Simeon Emeza Nena
Obieke Cecilia Adobi & Anr
Obiekie Dominic Chinwuba
Obiekosi Doris Adaobi
Obiekwe Emmanuel Ezenwa
Obiekwe Eric Uchechukwu Uchebest
Obiekwugo Agatha Ngozi
Obiem Jane
Obieme Chike
Obiezenweile Collins C U
Obiezu Lois
Obiezu Luke Chibuisi
Obigbo Pamela Obianuju
Obikanye Opemipo Pelumi
Obikaonu Pauline Chimuru
Obike Patricia Igbeye
Obike Ude Emma
Obikwelu Chuks Winston
Obikwelu Ifeanyichukwu Jude
Obilaja Oluwakayode
Obilor Ejike Emmanuel
Obinna Chioma Ngozi
Obinwa Chizoba Joy
Obioha Johnson Nnaemeka
Obioha Victoria
Obiora Ezinne
Obiora Modupe Titilayo
Obiozo Ogomegbunam Victor
Obitoro Perpetua Chimeruo
Obiudu Hycient Chukwuemeka Dr
Obizulike Ikemefuna George
Obodo Francisca
Obodoechina Adim Fredrick
Obodoekwe Ebele
Obodoekwe Ononuju Uche
Obodoekwe Uchenna G. S.
Obodozie Olatunde Ozoemena
Oboh Oghoghomena Charity
Oboho Arit John
Oboite Adinbaoke Osadebamen
Oboko Joseph Chukwudi
Obong-eren Alice Uduak
Obori Matthew Appeal
Obot Christopher Akpan
Obot Major Silas
Obott Frank
Obrikogho Sunday
Obuezie Emmanuel Obiora
Obuvie Kingsley Akporaro
Ocan Victor Omara
Oche Audu
Ochei Charles Chiemeka
Ochekwu Nehemiah John
Ochi Roderick
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
6665
6666
6667
6668
6669
6670
6671
6672
6673
6674
6675
6676
6677
6678
6679
6680
6681
6682
6683
6684
6685
6686
6687
6688
6689
6690
6691
6692
6693
6694
6695
6696
6697
6698
6699
6700
6701
6702
6703
6704
6705
6706
6707
6708
6709
6710
6711
6712
6713
6714
6715
6716
6717
6718
6719
6720
6721
6722
6723
6724
6725
6726
6727
6728
6729
6730
6731
6732
120322
71979
71987
71991
218856
72018
72019
119311
72071
72074
212274
72153
72189
72197
72198
72203
72216
72227
72238
72271
222613
215325
218464
72326
72355
72357
215164
72399
72400
72403
72405
72429
72433
112245
72447
213780
72475
72534
72540
72561
72574
72577
72583
72584
72587
213472
72615
72625
222061
72675
111081
218390
232173
72703
72715
72721
72722
72723
72736
72752
218624
72766
72772
72775
72785
72823
124724
72865
30873
74447
24069
74451
35547
43701
42008
92626
22319
74476
74487
74515
83
97782
74535
97784
74542
74544
74547
74565
74566
97792
74588
29019
26860
97799
74613
74620
42017
74624
74626
74634
74635
74638
74642
74648
42019
74676
92644
29021
29025
47039
26865
26866
74694
74699
74705
35571
74725
103586
74726
35572
74731
26872
74735
74736
22329
35574
74747
74757
35575
26876
18925
103592
29040
43710
74789
18928
6733
6734
6735
6736
6737
6738
6739
6740
6741
6742
6743
6744
6745
6746
6747
6748
6749
6750
6751
6752
6753
6754
6755
6756
6757
6758
6759
6760
6761
6762
6763
6764
6765
6766
6767
6768
6769
6770
6771
6772
6773
6774
6775
6776
6777
6778
6779
6780
6781
6782
6783
6784
6785
6786
6787
6788
6789
6790
6791
6792
6793
6794
6795
6796
6797
6798
6799
6800
217599
72888
211937
72910
212723
72921
72934
72935
72936
224307
72948
228946
72968
210503
73015
73017
73023
232151
73036
222176
73053
223435
224807
73076
73120
73126
73135
73158
208445
73169
73191
228355
73211
221984
73247
73254
216077
123956
73273
73303
216083
73310
208216
216611
73324
212311
73334
229407
73383
73394
222167
73399
215776
73420
73465
227463
73482
73483
113566
73499
73512
73523
73564
73567
208693
205439
222882
73580
74801
26885
74807
30883
97814
30885
103605
30887
30888
74820
74825
26887
25349
74845
74852
74853
74858
74860
74862
74864
35592
35593
92651
74885
30892
92656
74928
74947
74963
74953
42033
74972
74980
74994
26890
75009
75016
94537
75026
35597
92677
75048
75053
97827
75058
75072
75067
75084
75096
75101
75112
75105
75125
75118
75145
75155
75157
75158
75184
75168
75177
75188
75216
49879
75227
75228
29048
75238
Ochiagha Blessing Chioma
Ochie Ehis Michael
Ochigbo Adoyi John
Ochigbo Elizabeth Dota
Ochiora Onyinyechukwu Blessing
Ocholi Ejiga Aaron
Ocholi Jonathan
Ochuehie Remigius Uchechukwu
Ochumba Daniel Chukwugozie
Odaga Adhiambo
Odebisi Motunrayo Hauwa
Odedeyi Estmer Olajumoke
Odega Oronya Roseline
Odegbaro Alexander Oluwadamilo La K
Odegbaro Azeezat Olajumoke
Odegbaro Thomas Oyekunle
Odeh Godwin
Odeigah Helen Nwakaego
Odeja Bukola
Odekina Useh Judith
Odekola Kazeem Atanda
Odeleye Hakeem Olalekan
Odemenem Ambrose Nnanna
Odemwingie Ifueko
Oderhohwo Joseph
Oderinde Ademola Yakub
Odesanmi Yahaya Oloruntoogun
Odesanya Shamsideen Tolani
Odesanya Tinuola Rosemary
Odeseye Abisola
Odeshile Olatayo Olafimihan
Odetola Bukola Mope
Odetoyinbo Folaranmi Adebiyi
Odetoyinbo Olukemi Olayinka
Odetunmibi Olugbenga Olawale
Odewale Shukurat Ajoke
Odey Abubakar Nafisatu
Odeyemi Joel Olayinka
Odeyemi Sunday Abayomi
Odia Ekundaye
Odia Osazomwangie
Odia Peter Noruwa
Odiachi Ngozi Ernestina
Odiachi Nonso Kenneth
Odiagbe Ernest
Odiaka Stella Iheoma
Odiase Tadanegbe Yekhoega
Odiba Augustina Egweye
Odigie Ehimen Colinus
Odigie Michael
Odigie Osa & Kemi
Odigie Stella
Odih Jude Sunday
Odikaesieme Christiana Nkemakona M
Odili Irenosen
Odili Valentine
Odili Veronica Amara
Odili Vincent Afamefune
Odimba Chibiko Amos
Odina Eunice Olatomi
Odinenu Victoria Nne
Odinigwe Alphonsiana Chizoba
Odinma Gladys Ime
Odio Ipulo Ebenezer
Odion William Eromosele
Odiyo Hannah Onyinoyi
Odoemena Chidi Remigius
Odoemena Chioma Christiana
About Us
Odogo Rufus Eke
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Odoh John Chidozie
Odoh Nkiruka Celestina
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Odoko Temple
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Odubiyi Adebimpe Adetoun
Odubogun Olamide
Odubonojo Olamilekan David
Odubote Modupe
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Odufuwa Mobolaji Sesan
Odukaesieme Maduabuchi Paul
Odukale Oluwaseyi Uchechukwu
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Odukoya Oluwole Oluseyi
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Odukwe Ijeoma Chienye
Odulaja Teresa Abiola
Odulate Jonathan Oyeromola
Odum Faith Nkonye
Odumogu Chiamaka Mercy
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Odusami Victor
Odusanya Adebola Adebayo
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Oduselu Lydia Olupitan
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Odutola Ola Richard
Odutola Zahra Ikeoluwa
Odutoye Babatunde Yusuf O.
Oduware Precious Osabuohien
Oduwole Abiodun Razak
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
6801
6802
6803
6804
6805
6806
6807
6808
6809
6810
6811
6812
6813
6814
6815
6816
6817
6818
6819
6820
6821
6822
6823
6824
6825
6826
6827
6828
6829
6830
6831
6832
6833
6834
6835
6836
6837
6838
6839
6840
6841
6842
6843
6844
6845
6846
6847
6848
6849
6850
6851
6852
6853
6854
6855
6856
6857
6858
6859
6860
6861
6862
6863
6864
6865
6866
6867
6868
73598
205672
73607
116349
73618
217342
73627
73633
73635
73638
209708
73659
232619
221472
73698
73702
121464
73721
206869
73739
73746
216253
73799
73825
73833
73850
73867
73873
73879
215781
207711
73943
208427
73951
73957
227306
219288
73993
73995
74009
74012
232483
74050
74061
74068
123249
74079
74099
74124
223178
210604
74142
74145
74166
228470
228570
205843
219772
218809
74227
123769
119519
74240
74257
74259
74261
74280
74274
75243
97847
75245
75250
75254
75261
26893
103616
14309
75265
75271
75272
30898
35606
29049
8242
35608
26898
35612
22357
35613
92707
103620
35617
75321
75331
29051
25353
35620
26904
75350
103628
75363
104768
22382
75365
35626
38542
24094
35629
26907
75394
29057
75396
26908
26910
29058
101192
97853
75422
75424
75423
29070
29073
29075
35645
26915
22400
2601
75446
75449
30919
75447
75455
75457
75458
35655
19841
6869
6870
6871
6872
6873
6874
6875
6876
6877
6878
6879
6880
6881
6882
6883
6884
6885
6886
6887
6888
6889
6890
6891
6892
6893
6894
6895
6896
6897
6898
6899
6900
6901
6902
6903
6904
6905
6906
6907
6908
6909
6910
6911
6912
6913
6914
6915
6916
6917
6918
6919
6920
6921
6922
6923
6924
6925
6926
6927
6928
6929
6930
6931
6932
6933
6934
6935
6936
74285
74301
74321
74333
74346
224004
74365
74380
74382
225167
74396
223315
74472
74487
205771
206009
74523
74527
124882
117919
74568
74575
74583
74615
212372
74625
74632
217987
74655
74657
74696
74697
74698
74699
74703
74737
74739
222107
209975
74775
213674
74811
74886
74921
74939
211657
208126
74995
220699
216200
219492
231888
75062
75065
75072
75073
75082
75095
75134
75156
75186
210005
215636
75202
75211
230592
75223
216864
75466
75468
75473
18945
22403
75490
18948
14314
18951
30925
103643
30930
47053
30933
75523
30937
14320
14323
75533
75536
75539
22421
22424
75555
75564
75563
75566
75572
75570
75575
29083
103658
26950
29084
75588
29089
75600
75609
29095
26966
42050
75623
103671
10598
75663
35687
75683
14328
103679
75699
38553
75715
75717
30944
29101
29102
103684
29104
43724
75769
75791
75792
75804
75806
75811
75816
14330
42056
Oduwole Opeyemi Saheeb
Oduye Oladipo Olusegun
Oduyebo Sunday Owolabi
Oduyemi Samuel Olawale & Anr.
Oduyingbo Oluseun A
Oduyoye Olumuyiwa Adebisi
Ofagbare Londo Isreal
Ofeimu Ojes Imas
Ofem Etengolem
Ofeton Veronica Elohor
Offiah Ifeanyi
Offiong Lucille Ako
Offunu Emmanuel Ndubuisi
Ofi Oladiran
Ofiare Ogbaji
Ofili Azuka
Ofili Francisca Anulika
Ofili Roy Animam
Ofoche Amoge Stephanie
Ofodile Emmanuel Okechukwu
Ofodueze Uche Bernice
Ofoegbu Leaticia Ihuaku
Ofokansi Innocent Ikechukwu
Ofomaja Divine Mejire
Ofonagoro Elizabeth Adora
Ofordile Anthony-john
Ofovwe Queen
Ofre Gabriel Akem
Ofuama Akpomedaye Blessing
Ofulue Onyeka
Ofum Akomande Udama Rawlings
Ogah Peter Onu
Ogaji Shaibu Ogaji
Ogala Aigbochie Hehen
Ogalanya Godfrey Anaedum Onyeb Uchi
Ogalue Obumnaeme Blaise
Ogar Stephen Aja
Ogazie Unaeze
Ogb0j1 Ene Pauline
Ogbadu Godwin Haruna
Ogbagha Osaremeh Benedict
Ogbavigho Reuben E.
Ogbe Abuh Monday
Ogbe Esther
Ogbe Monday Matthias
Ogbe Stella London
Ogbebor Eseosa Francis
Ogbechie Celestina Ngozi
Ogbeibu Innocent George
Ogbeide Michael Osamuyi
Ogbeifun Chinyere Katukoma
Ogbeifun Iyenoma
Ogbeifun Paul Ehizofua
Ogbemudia Osasumwen
Ogbemudia Peter Edomwonyi
Ogbenna Godfrey Tobechukwu
Ogbhemhe Rosemary I.
Ogbodo Augustine Chukwuma
Ogbodo Christian Onyekachi
Ogbodo Echeija
Ogbodo Ifeanyichukwu Mba
Ogbodo James Iloabuchi
Ogbodo Okechukwu Eric
Ogbogu Lawrence Ikechukwu
Ogbogu Michael Emeka
Ogbogu Victor Uchenna
Ogbole Chide Grale
Ogbole Elizabeth Ene
ANNUAL REPORT
2014
Ogbolu Chidi Victor
Ogbomon James Atabhotor
Ogbonna Angela Ngozi
Ogbonna Chinedum Michael
Ogbonna Eanest Prowess
Ogbonna Epiphany
Ogbonna Isaac Chidi
Ogbonna Obinna Stanley
Ogbonna Ocheze
Ogbonna Samuel Lucky
Ogbonna Sunday
Ogbonnaya Iheuko Sunday Dr
Ogbu Ann Ifeoma
Ogbu Grace Kelechi
Ogbu Jimson
Ogbuabo Ikem
Ogbuaku Chimdindu
Ogbuaku Lilian
Ogbughalu Augustine Arinze
Ogbuja Clara Chioma
Ogbulefu Bartholomew Aham
Ogbunude Joseph Chuba
Ogbuozobe Tochukwu Stephen
Ogedengbe Eunice Fisayo
Ogedengbe Folake & Adewale
Ogedengbe Paul Oluseyi
Ogegbo Basil Ajibola
Ogeye Damilola Olumide
Ogeye Olufunke Olabisi
Oghafua Solomon Uwagbae
Oghide Osasere
Oghidi Idemudia Kinlsley
Oghighe Goddey Ohwofasa
Oghinan Anetor Okhale-addeh
Oghoanina Joy Oghogho
Ogianyo Abudulahi John
Ogiator Omuwa
Ogidi Micheal Eloho
Ogieva Efosa
Ogigbah Adjaro E. Emmanuel
Oginni Ayodeji Jacob
Oginni Oluwaseun Christopher
Ogoloma Chima
Ogu Ansa Boco
Ogu Vincent Innocent
Oguche Oyinema Vera
Ogude Funmilayo Abiodun
Oguegbe Ferdinand Okorie
Ogueji Ngozi
Oguejiofor Emeka Charles
Oguguo Opara Anthony
Oguguo Kingsley Ibeabuchi
Oguh Georgenia Oluchi
Oguh Nnadozie Mark-lawrene E
Oguike Ikechukwu
Oguike Nonyerem
Ogukwe Chukwuma Nwokedike
Ogumor Omamomo
Ogun Tayo
Ogunbadejo Adebayo Adewale Ganiy U
Ogunbanjo Magaji Oluwakemi
Ogunbanjo Mercy Oremei
Ogunbayo Temitope Olusomo
Ogunbekun Oyindamola Mutiat
Ogunbiyi Adesoji.o.
Ogunbiyi Francisca Bamidele
Ogunbiyi Kofoworola
Ogunbiyi Michael Kolawole
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
6937
6938
6939
6940
6941
6942
6943
6944
6945
6946
6947
6948
6949
6950
6951
6952
6953
6954
6955
6956
6957
6958
6959
6960
6961
6962
6963
6964
6965
6966
6967
6968
6969
6970
6971
6972
6973
6974
6975
6976
6977
6978
6979
6980
6981
6982
6983
6984
6985
6986
6987
6988
6989
6990
6991
6992
6993
6994
6995
6996
6997
6998
6999
7000
7001
7002
7003
7004
75235
75244
75245
75258
75259
75263
75274
75284
75294
75305
75337
75366
221125
216658
75411
75482
75503
75527
75533
113954
118047
225217
75556
75559
222995
75626
75641
215985
208501
75683
75701
75703
75716
116179
75756
75760
75765
75767
75787
217045
75792
75819
75820
214028
209002
75894
232209
75906
75918
208627
209849
75930
75944
226179
120690
120689
220357
75982
75986
75996
76003
214169
76050
76053
76059
76062
76063
76072
14331
75828
75829
35691
75838
75842
75847
75854
75857
92720
75876
75883
75904
75906
75901
75942
97907
75962
75964
75967
75979
47059
94556
26979
75995
97920
90766
35705
76038
76047
35707
76061
35708
86
76093
76094
35709
76098
97935
49895
76109
94561
76132
76144
76188
35712
47061
35713
76177
35715
76194
92781
76199
76210
76214
76215
76225
90778
97945
76237
42066
89558
76268
92784
76274
76277
76278
76289
7005
7006
7007
7008
7009
7010
7011
7012
7013
7014
7015
7016
7017
7018
7019
7020
7021
7022
7023
7024
7025
7026
7027
7028
7029
7030
7031
7032
7033
7034
7035
7036
7037
7038
7039
7040
7041
7042
7043
7044
7045
7046
7047
7048
7049
7050
7051
7052
7053
7054
7055
7056
7057
7058
7059
7060
7061
7062
7063
7064
7065
7066
7067
7068
7069
7070
7071
7072
76092
76099
76126
76182
76198
76201
218011
76235
76239
76241
76242
123942
76263
76285
76286
212780
76292
76298
229010
222203
123544
217574
76381
209644
210433
215440
76564
76570
76581
114608
76591
76593
231289
215995
76616
76620
76650
76655
76679
222571
76690
76748
76757
76769
76774
76780
76783
76788
56269
228163
210711
76841
76840
76849
76860
76888
76895
76917
76921
76967
76982
224152
77012
77050
77054
216577
123717
77084
49899
76301
76314
76340
103691
76349
26985
97965
76358
97968
97969
76364
76366
92799
92800
97973
35731
97976
76386
76401
76404
76420
76426
76440
76480
94581
104774
76512
76515
76526
76528
92818
76529
76545
76537
76538
35741
76556
26990
76562
18971
26996
38561
22461
22462
76583
22463
18975
22464
76603
76605
76606
76604
103704
22466
29116
76621
47065
76631
76640
76645
76648
76660
2634
27019
24104
76685
30952
Ogunbiyi Onaopemipo Oluwanifemi I
Ogunbo Mojisola Adetomi
Ogunbo Olakunle Oladipo
Ogunbolude Alice Yetunde
Ogunbona Adesola Adunni
Ogunbote Abosede Abisola
Ogunbunmi Kayode Mufutau
Ogundairo Adebola
Ogundana Babatunde
Ogundare Amos Iyanda
Ogunde Folasade
Ogundeji Sulyman Adesegun
Ogundele Jeremiah Oluwaseyi
Ogundele Latifu Oloyede
Ogundele Samuel Ajayi
Ogundipe Ezekiel Adebola
Ogundipe Rotimi Akinleye
Ogundiwin Lanre Oyegbola & Shol A Aj
Ogundiyan Julius Olukayode
Ogundogba Grace Olufunmilayo
Ogundolie Sekinat
Ogundoyinbo Ajibola
Ogundun Ayodeji Kayode
Ogune Chukudi Ogheneruemu
Ogunfowokan Abimbola
Ogungade Adewale Olusegun
Ogungbe Oluwasinaayomi David
Ogungbemi Igbekele Samuel
Ogungbire Adedayo Thomas
Ogunjimi Folashade Fatimat
Ogunjobi Johnson Ariyo
Ogunjobi Mary Iyabo
Ogunjobi Sunday Cyril
Ogunkomaya Adewale Oluwaseyi
Ogunkoya Mohammed Olaiwola
Ogunkoya Olalekan John
Ogunkoya Olugbenga
Ogunkoya Olusola Adunni
Ogunlade Ayosiji Afolabi
Ogunlade Blessing Oyindamola
Ogunlade Mary Olufunmilayo
Ogunlana Emmanuel Omotayo
Ogunlana Olakunle Idowu
Ogunlesi Irewole Mobolaji
Ogunleye Lawrencia Adunni
Ogunleye Mujidat Oyeyemi
Ogunleye Olawale O.
Ogunleye Olusanya Timothy
Ogunleye Rachael Yemisi
Ogunleye Taiwo Victor
Ogunleye Tayo Adeola
Ogunleye Zacheaus Oluwale
Ogunlola Jackson Olabisi
Ogunlusi Adetola Oluwabunmi
Ogunlusi Adeyemi
Ogunlusi Gbenga
Ogunmekan Mojisola Olasimbo
Ogunmilade Olufunke Edileola
Ogunmodede Agnes Adebimpe
Ogunmokun Festus Olujimi
Ogunmola Festus Akin Wale
Ogunmola Olayode Samson
Ogunmwonyi Osawemwenguan Ojay
Ogunnaike Adesanya Oluwasesa N
Ogunnaike Josephine
Ogunnaike Koseyinoluwa
Ogunnaike Muyiwa Akintomide
Ogunneye Omolara Abiola
About Us
Ogunniyi Bola Sunday
Ogunniyi Osobiyi Duncan
Ogunnubi Precious Oreoluwa
Ogunrinde Muili Abdulkareem
Ogunro Noah Kayode
Ogunro Oluwaseyi Abiola
Oguns Ajanaku Ojo
Ogunsan Darasimi
Ogunsan Oreofe
Ogunsan Oyindamola
Ogunsan Sharonrose
Ogunsanwo Ogunniyi
Ogunsanya Fausat Anike
Ogunsefunmi Bukonla Caroline
Ogunsefunmi Omowole Olusegun
Ogunseitan Adeyinka
Ogunsemi Olayinka Olushola
Ogunsesan Taofeekat Temitope
Ogunseyin Taiwo Abimbola
Ogunsimirin Moroof Kolawole
Ogunsina Oluseye Olugbenga
Ogunsola Banjo R.
Ogunsuada Olasunkanmi Wasiu
Oguntibeju Olumide
Oguntoyinbo Adepitan Sharafadeen
Ogunwale Adewumi Maryam
Ogunwoye Juliana
Ogunwumiju Temitayo
Ogunyale Adedayo Olusola
Ogunye Ogunbiyi Olugbuyi
Ogunyemi Abiola Rashidat
Ogunyemi Adebola Anike
Ogunyemi Ayodele
Ogunyemi Olayemi Rasaq
Ogunyemi Olufemi Olubode
Ogunyemi Omoniyi Ojo
Ogunyomi Stephen Bode
Oguonu Chikadibia Oyiboka
Ogwe Chidinma
Ogwo Chukwuemeka Obiorah
Ogwo Ebuonye Miriam
Ogwum Ogochukwu
Oha Vitalis Iheahyichukwu
Ohaegbu John Okwudili
Ohaejesi Sabina Nkemejina
Ohaeri Sunday Fredrick
Ohaezukosi Sylvester Udenna
Ohagwasim Collins Iyke
Ohalezim Chinazom Catherine
Ohanekwurum Ifeanyi Peter
Ohanele Chukwuma Cyrinus
Ohanele Emmanuei Obioma
Ohanele Emmanuel Obioma
Ohanyere Ifeanyi
Ohas0 Ihionu Silas
Ohenhen Uyi Peter
Oheri Kenneth Omovie
Ohieku Momoh Jimoh Buraimoh
Ohigbochie Florence Edewasha
Ohiowere Omekeuan
Ohize Abdul Bashit
Ohonba Evans
Ohuakanwa Ugonna Stephanie
Ohwotu Gregory Jacob
Ohwovorione Esther
Oigoga Esther Amichi
Oiyole John
Ojanomare Felix
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
7073
7074
7075
7076
7077
7078
7079
7080
7081
7082
7083
7084
7085
7086
7087
7088
7089
7090
7091
7092
7093
7094
7095
7096
7097
7098
7099
7100
7101
7102
7103
7104
7105
7106
7107
7108
7109
7110
7111
7112
7113
7114
7115
7116
7117
7118
7119
7120
7121
7122
7123
7124
7125
7126
7127
7128
7129
7130
7131
7132
7133
7134
7135
7136
7137
7138
7139
7140
77092
77100
77108
216257
77111
77149
77196
77198
206632
77200
225839
77219
77226
218302
77279
77281
77303
208196
77306
77314
77334
77339
77367
77368
232174
77374
77396
77398
227707
212509
116082
77418
77427
77430
213041
216125
214203
77468
77474
77488
77493
205749
77525
219922
77581
212561
216053
77592
77624
77628
223504
77647
225764
77661
77683
77705
77723
77734
77737
121957
224064
77748
225959
77805
77836
77837
77844
208099
35770
29127
103714
98018
101219
98026
27028
76748
76749
24105
76752
42084
76757
76766
8878
92835
76786
98040
76787
76789
27032
103720
27034
27035
76805
27901
27036
29132
27037
27902
76827
76829
76837
76840
35780
98090
76965
76851
76853
90799
76859
76970
76870
76972
29133
29874
38911
105333
35785
49917
76978
76909
76911
76914
98080
76932
103725
76946
76948
94604
98101
98084
76953
29876
77004
77005
77010
77022
7141
7142
7143
7144
7145
7146
7147
7148
7149
7150
7151
7152
7153
7154
7155
7156
7157
7158
7159
7160
7161
7162
7163
7164
7165
7166
7167
7168
7169
7170
7171
7172
7173
7174
7175
7176
7177
7178
7179
7180
7181
7182
7183
7184
7185
7186
7187
7188
7189
7190
7191
7192
7193
7194
7195
7196
7197
7198
7199
7200
7201
7202
7203
7204
7205
7206
7207
7208
77868
77933
77934
215263
77943
120763
110297
77955
220183
77973
222159
77980
77985
77987
77998
218018
210009
78023
78030
78043
124669
78069
78075
120138
78092
110603
78094
78101
78102
209174
78129
78141
78174
78184
78186
230484
78197
224498
123924
78213
78222
221905
227552
78240
78248
78254
78264
230703
78275
78280
78282
78311
78312
215999
216434
78405
78411
78424
218825
78530
78548
78555
114288
78633
78605
78609
78616
78632
77025
22482
22483
47069
77049
77054
27045
77060
77067
77068
77074
77073
92857
77079
77084
27047
22490
77093
22495
49922
35809
77108
38585
77187
29142
22537
27050
77116
42101
30975
18992
22511
22517
18994
30966
30968
14374
24638
77194
22523
77147
77195
77152
22528
49924
30971
77157
30972
14375
22535
103736
27057
43736
77213
77215
77244
27059
35819
94612
77298
77306
14376
77331
77347
22548
77342
19007
77346
Oje Akwa Stephanie
Ojeaga David
Ojeba Dauda Vincent
Ojebisi Olanrewaju Robert
Ojebisi Olayode Isaiah
Ojedokun Grace Ajokadee
Ojeje Umulo Anthony Godspo Wer
Ojejinmi Beatrice Folasade
Ojeka Ede Peter
Ojeka Katherine Eko
Ojekhoa Uwaifo C
Ojekunle Dr Joel Ademola
Ojelabi Olumide Ademola
Ojeleye Sikiru Akande & Abimbola Bilkis
Ojere Onyeka Ojeke
Ojerinde Ahmed Bukky
Ojewola Johnson Olanrewaju
Ojewole Olayinka Abolade
Ojewuji Adedayo Daud
Ojeyemi Gbadegesin Moses
Oji Felicia Akpevwe
Oji Iheyinwa Nwadi
Ojiako Kenneth Kenechukwu
Ojiako Nelson Chinedu
Ojiako Uzonna Michael
Ojiakor Agatha Ijeoma
Ojieh Peace Chinye
Ojiekhudu Andy Imobhio
Ojiekhudu Lucy Ebosele
Ojike Rapheal Nwodom
Ojikutu Ajoke Fasilat
Ojile Christopher Abah
Ojini Charles Kanayo
Ojinmah Uloma
Ojji Dike Bevis
Ojo Ibidunni Roseline
Ojo Abayomi Moses
Ojo Adefunmike Idowu
Ojo Adeolu
Ojo Akinola Steve
Ojo Alaba
Ojo Ayodeji Michael
Ojo Dada Stephen
Ojo Eyitayo Adedotun
Ojo Grace Erokpadamwen
Ojo Ilesanmi Festus
Ojo James Olabankole Ojo
Ojo Japhet Olafimihan
Ojo Linda Ehimen
Ojo Marcus Yemi
Ojo Mercy Olaosebikan
Ojo Musilimot Olabisi
Ojo Oladele
Ojo Olatunbosun
Ojo Oluranti Eunice
Ojo Oluwashola Emmanuel
Ojo Osayande Michael
Ojo Richard Temitope
Ojo Saheed Ajayi
Ojo Samuel Gbenga
Ojo Samuel Olusesan (dr)
Ojo Samuel Temitope
Ojo Sunday
Ojo Tope Babatola Joseph
Ojochonu Daniel
Ojochonu Victor Samuel
Ojofeitimi Agboola Olufemi E
Ojomo Oluwafemi Sunday
ANNUAL REPORT
2014
Ojomu Taiwo Hassan
Ojukwu Maxwell Chukwuma Uzon Na
Ojukwu Ngozi Bridget
Ojukwu Osita Hilary
Ojukwu Rita Ebelechukwu
Ojukwunze Udoka Emeka
Ojumah Clifford Chukwutem
Ojumu Kehinde Kolade
Ojuolape Daniel-ojeh Eyitayo
Ojuoluwa Omotola Janet
Ojuri Olukayode
Ojuri Sunday Ademola
Ojuroye Aishah Idunnuoluwa
Ojutalayo Jonny Laniyan
Ojuyenum Ahan-enu Shalom
Okachibe Daniel Utaji
Okadigbo Pauline
Okafor Amaka Mary-frances
Okafor Atuegwu Chikezie
Okafor Bertrand Udochukwu
Okafor Cecilia Uzoamaka
Okafor Chinedu Jude
Okafor Chinyere Milared
Okafor Chukwuma-kingsley
Okafor Chukwunonye Emmanuel
Okafor Cyriacus Elochukwu
Okafor Daniel Ngozi
Okafor Emeka Hyginus
Okafor Emeka Kingsley
Okafor Fidelis Onyebuchi
Okafor Francis Ndubuisi
Okafor Gregory Maduka
Okafor Jude Ogochukwu
Okafor Liver Nnachetam
Okafor Lorrita Ebere
Okafor Mercy Chisolu
Okafor Michael Nwanua
Okafor Natalia Makarova
Okafor Nmadu Victor
Okafor Nonso Peter
Okafor Obianuju
Okafor Okwuchukwu David
Okafor Onuora Austin
Okafor Onyinye Adaeze
Okafor Patrick Kenechi
Okafor Pearl Afuluchi
Okafor Roseline Uche
Okafor Simeon Ifeanyi
Okafor Steve Tobechukwu
Okafor Theresa Azuka
Okafor Tochukwu Oliver
Okagbare Janet Eserinone
Okagbue Joseph Ifeatu
Okalazu Nkiru Helen
Okalla Christian Chukwuemeka
Okanlawon Tttilayo Ajimoh
Okanmelu Patrick Chike
Okaraba Joseph Ojikpan
Oke Ayo Gilgal Enterprises
Oke Oluwatoyin Abiodun
Oke Sherifat Olayemi
Oke Sunday
Oke Sunday Abayomi
Okechukwu Ambrose Chijioke
Okechukwu Dozie Cletus
Okechukwu Favour Marcel
Okechukwu Ifeyinwa Clement
Okechukwu Uche
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
7209
7210
7211
7212
7213
7214
7215
7216
7217
7218
7219
7220
7221
7222
7223
7224
7225
7226
7227
7228
7229
7230
7231
7232
7233
7234
7235
7236
7237
7238
7239
7240
7241
7242
7243
7244
7245
7246
7247
7248
7249
7250
7251
7252
7253
7254
7255
7256
7257
7258
7259
7260
7261
7262
7263
7264
7265
7266
7267
7268
7269
7270
7271
7272
7273
7274
7275
7276
78645
219493
78675
78681
116466
78750
78751
211767
210911
78762
78779
78794
78803
219979
78827
78828
78838
78844
78864
220813
78870
78971
78900
78901
78939
78948
78953
78955
78956
78976
214059
78998
79003
79009
79014
79018
124516
79046
213252
79062
79063
217726
79067
214171
79122
79138
79141
79142
210840
79180
79191
79193
79260
79273
79279
207919
115706
79317
79321
79328
79377
120723
226333
79379
79390
79396
123923
79457
92866
103746
35829
38591
22554
77395
77396
77468
89569
77400
27903
22565
30989
22604
37881
77415
22572
22573
98131
103751
77428
77475
35837
77439
35838
35839
22593
77461
22594
22607
47081
77482
94615
27077
90815
77491
77504
35846
103754
35848
35849
77510
31005
77540
77544
35851
77551
42113
77585
77568
77573
19029
49927
77608
98150
19031
77626
31013
77631
77634
42117
42118
29157
77643
29159
29161
31017
77667
7277
7278
7279
7280
7281
7282
7283
7284
7285
7286
7287
7288
7289
7290
7291
7292
7293
7294
7295
7296
7297
7298
7299
7300
7301
7302
7303
7304
7305
7306
7307
7308
7309
7310
7311
7312
7313
7314
7315
7316
7317
7318
7319
7320
7321
7322
7323
7324
7325
7326
7327
7328
7329
7330
7331
7332
7333
7334
7335
7336
7337
7338
7339
7340
7341
7342
7343
7344
213356
79468
79470
232604
206741
79489
79499
79500
79501
79502
79503
79504
79509
210310
79526
79546
79551
79553
79554
226633
79579
123333
123334
207807
79593
79601
205873
79612
79637
79654
79656
79658
79696
79725
222260
117433
79727
216190
216189
79734
79736
79751
79893
79765
79768
79581
79800
79828
79831
123529
79849
112267
79882
79903
79907
79930
79935
79938
79941
79942
79947
79957
213833
79987
79991
79996
80004
80033
35872
77671
35873
77674
77680
25381
19033
19034
19035
19036
19037
19038
29164
77694
77696
77700
77703
27091
35878
29166
31021
77709
77710
77713
77712
24114
77730
14378
31023
77719
31025
42123
35883
77745
29175
77752
77746
77753
77754
29174
77749
29176
35891
77760
22620
77767
77771
31029
77778
77798
22633
35892
77791
77809
77812
77819
77821
77823
77825
77826
77828
77832
77863
27115
31034
77851
29183
77872
Okedara Ibraheem Adeniyi
Okegbe Okechukwu Louis
Okeh Confidence Ndidiamak A
Okehi Roseline Chinyere
Okejeme P. Chukwunyerenwa
Okeke Chikweke Anthony
Okeke Chima Amos
Okeke Chinelo Ifeoma
Okeke Chinonso
Okeke Chinwe Juliet
Okeke Cyril
Okeke Emeka Justin
Okeke Esther Oluchi
Okeke Gold Nonye
Okeke Hyginus
Okeke Ifeanyi Ansalem
Okeke Innocent Nnaemeka
Okeke Izuchufwu Emmanuel
Okeke Lawrence
Okeke Linda Chinwendu
Okeke Martha Uche
Okeke Ngozi Nneka
Okeke Nseabasi Edwin
Okeke Nwamaka Eucharia
Okeke Sunday Emmanuel
Okeke Uchenna Elizabeth
Okeke Uwasomanya Francis Do Natu
Okeke Valentine Chidi
Okeke Victor Chima
Okekearu Pius Ogochukwu Chris Toph
Okekumata Trustgod Odianosen
Okelana Olubukola Adebisi
Okeleji Olamide Emmanuel
Okeleke Obi Moses
Okelola Funsho Rotimi
Okelue Chukwuemeka Joseph
Okenini Ufuoma Victor
Okeniyi Lekan
Okenwa Mercy Nwanyinwa
Okenwa Obiora James
Okenwa Ruth Ndidi
Okenwa Samuel Onyeka
Okenyeka Obi Samuel
Okeowo Olumide
Okere Chiemeka Kenneth
Okere Ngozi Catherine Ahunm A
Okere Nwanneka Ebelechukwu
Okere Oluchi Lawrencia
Okereke Charles & Juliet
Okereke Elizabeth Olayinka
Okereke Jennifer Ekwutosi
Okereke Kanu Christian
Okesina Bolanle Shukrat
Okesola Oluwole Ayodele
Oketade Mr & Mrs Amos Bolanle
Okeugo Ugochukwu
Okewole Olabisi Mufliat
Okey Nduka
Okeyemi John Adewole
Okeze Anthony Dumebi
Okhidie Charity Cynthia
Okhidie Charity Omohlegho Cynthia
Okhionkpaimwonyi Juliet
Okhipo Benedicta Odufua
Okhuelegbe Goddey
Okhuorobo Ogbebo Joseph Emokpae
Okigwe John Ede
Okikiola Oluwadare
About Us
Okiky Investment Limited
Okin Omolara
Okirigwe Aboh Samuel
Okiti Esohe Osagie
Okiwelu Michael O.
Oko Benjamin Silas
Okoafoakpu Chukwuemeka Peter
Okoafoakpu Ifeyinwa Fransica
Okoafoakpu Obianju Evangeline
Okoafoakpu Obiora Kingsley
Okoafoakpu Stanley Ifeanyichukwu
Okoafoakpu Tochukwu Paul
Okoanegbete Cordelia Ilobekemen
Okobi Benny Elue
Okocha Grace Nwanneka
Okodugha Christopher Abumhere
Okoduwa Osadebame Deborah
Okoduwa Oselubhen Peter
Okoduwa Rasheedat Adunni
Okoedo Bright Osezele
Okogeri Patience Ugo
Okogie Abigail Bosede
Okogie Philip Uduimho
Okogwu Ike
Okogwu Theresa Idowu
Okoh Anthony Ekele Joseph
Okoh Carolynn Kikanwa
Okoh Chika Thelma
Okoh Festus Ogbodo
Okoh Ododo Augustine
Okoh Okoh Onyinyechi Antho Nia
Okoh Onyejeche Jennifer
Okoisor Jude Ashinze
Okojie Eminomen Amajuoritse
Okojie Faith
Okojie Henry Ehimare
Okojie Itsewoli Esenoselumen
Okojie Leeroy Itohowo
Okojie Leon Ofonime
Okojie Obehi Hilda
Okojie Oseremen Eyituovo
Okokobili Christy
Okoli I Nzube Nwakaego
Okoli Akuchukwu Francisca
Okoli Anayo Leonard
Okoli Chukwue Dozie
Okoli Ejike Hillary
Okoli Irene Chinedu
Okoli Joseph
Okoli Juliana Chizoba
Okoli Michael Uba
Okoli Solomon N.
Okoli Theola Chinezite
Okolie Caroline Ifeanyichukw U
Okolie Chinyere Vydolia
Okolie James Adimabua
Okolie Judith Nkemdilim
Okolie Macdonald Chinedu
Okolie Micheal Ikechukwu
Okolie Micheala
Okolie Nwabueze Peter
Okolie Vitus Chukwudubem
Okolo Chuks
Okolo Emmanuel Othuke
Okolo Francis Tochukwu
Okolo Helen Okwuchukwu
Okolo Joseph Kanayo
Okolobi Susan Ujenwa
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
7345
118607
7346
220583
7347
219202
7348
220260
7349
111311
7350
220616
7351
80070
7352
80077
7353
80103
7354
80104
7355
80108
7356
119399
7357
120695
7358
80124
7359
80139
7360
80153
7361
215380
7362
218491
7363
80182
7364
216034
7365
80208
7366
80209
7367
117414
7368
80227
7369
213121
7370
80234
7371
215897
7372
80248
7373
214829
7374
207703
7375
80283
7376
223808
7377
80297
7378
229932
7379
80299
7380
228363
7381
118488
7382
80305
7383
80310
7384
80311
7385
80317
7386
80339
7387
221460
7388
232325
7389
80356
7390
219688
7391
80399
7392
230828
7393
226506
7394
210074
7395
80457
7396
80458
7397
213635
7398
205792
7399
80470
7400
80471
7401
232593
7402
80482
7403
80485
7404
80491
7405
80497
7406
115260
7407
206920
7408
224167
7409
80527
7410
80528
7411
80685
Chukwueme Ka
Warr. No Names
S/no
Acc. No
Warr. No Names
77881
31039
31041
31044
77882
77899
35900
11783
25389
25390
20400
77900
77902
19053
42132
77906
22649
77919
22650
31057
22656
6714
31058
77931
31059
77934
22699
22667
35909
22702
22676
77975
77946
22683
31051
77947
77977
77950
77952
31053
12866
22690
22705
77962
77966
22707
20404
35911
78005
78012
20406
38607
38609
78028
38608
78023
78024
78025
19063
545
31064
78033
78034
78035
78043
78044
78095
7412
7413
7414
7415
7416
7417
7418
7419
7420
7421
7422
7423
7424
7425
7426
7427
7428
7429
7430
7431
7432
7433
7434
7435
7436
7437
7438
7439
7440
7441
7442
7443
7444
7445
7446
7447
7448
7449
7450
7451
7452
7453
7454
7455
7456
7457
7458
7459
7460
7461
7462
7463
7464
7465
7466
7467
7468
7469
7470
7471
7472
7473
7474
7475
7476
7477
7478
7479
80686
80577
205690
110441
221185
80648
80653
80656
80660
80703
210163
80715
80449
207636
81762
91018
80755
80764
80770
80779
80792
80808
232594
80818
80851
80852
80854
230074
80879
80908
214342
81097
211024
80933
80937
80972
81008
215760
81025
81035
81040
208350
81069
208185
81081
81104
230454
81110
81127
81152
81174
81178
81179
81204
81207
215376
81234
81264
81269
81351
81289
228521
81327
81332
81336
112495
81367
211731
78098
31070
22716
78106
78109
78077
29199
35929
78080
78115
47091
78118
19080
31078
104949
19085
35935
78136
31080
19092
78146
78152
78156
29202
78171
78172
78174
22718
31081
78181
35947
78224
22751
12355
78186
78194
78201
78231
103824
29208
22745
31090
78214
35950
78218
22758
22759
22760
78246
78257
42143
78265
22770
78274
22774
31093
35954
98178
35956
35965
78299
78306
35961
89585
19104
78311
42146
78328
Okolugbo Chinyere Julia
Okoma Chidera Kaosiochukwu
Okoma Ifeanyi
Okoma Sonna Obiora
Okomah Funmi & Segun
Okon Bassey Edet
Okon Christopher Etim
Okon Edet Ikpeme
Okon Jane Effiong
Okon John Effiong
Okon Joseph Sabbath
Okon Joshua Effiong
Okon Okon Edet
Okon Paul Etim
Okon Ub0ng Jeffrey Effiong
Okongwu Ikenna
Okonji Amalachukwu Mercy
Okonjo Obianuju Peace
Okonkwo Alexander Obunike
Okonkwo Angela Chiemenam
Okonkwo Charity Chinwendu
Okonkwo Charity Nnenne
Okonkwo Chidi James
Okonkwo Chinelo Adaeze
Okonkwo Chinwuba
Okonkwo Christian Ifeanyi
Okonkwo Christopher Chukwudi
Okonkwo Daniel Ekpeleamaka
Okonkwo Fidel Ifeanyi
Okonkwo Izunna Cele
Okonkwo James Emeka
Okonkwo Joseph Ifeanyi
Okonkwo Margaret C
Okonkwo Maximus Chizoba
Okonkwo Michael Ifeanyi
Okonkwo Michael Chidi
Okonkwo Ndidiamaka .d
Okonkwo Nkechi Patience
Okonkwo Nwanze Josephe
Okonkwo Obi Augustine
Okonkwo Obiora
Okonkwo Stephen E
Okonkwo Theodore Okey
Okonkwo Uchechukwu Anne
Okonkwo Ukamaka Christiana
Okonkwo-ozokpo Ernest Nnabuike
Okonna Grace Ndannke
Okonofua Lucky Irhiogbe
Okonya Izegbua Ihinosen
Okorafor Enyinnaya C.
Okori C/o Imo Etim
Okorie Akpa John
Okorie Charles Umezuruike
Okorie Chinyere Onwubiko
Okorie Ejinduaka John
Okorie Emeka
Okorie Friday Joshua
Okorie Ignatius Uchechukwu
Okorie Jennifer Uchenna
Okorie Lazarus Ejike
Okorie Okechukwu Patrick
Okorie Uche Godwin (mr)
Okorie Ukachi
Okorie Wilfred Chukwudi
Okoro Angela Oby
Okoro Angelina Udekwesi
Okoro Christopher Chukwuemeka Christopher
ANNUAL REPORT
2014
Okoro Cynthian & Duru
Okoro Ezeklel Chinonso
Okoro Ikechukwu John
Okoro Martha Nnebuihe
Okoro Nnamdi Charles
Okoro Pamela Ugonna
Okoro Precious Chinedu
Okoro Sam Chuks
Okoro Sarah
Okoroafor Chukwuemeka Kingsley
Okoroafor Gloria Ferdinand
Okoroafor Mba
Okoroafor Mercy Chiagozie
Okoroama Adamma Chinwe
Okorocha Ignatius
Okoronkwo Austen
Okoronkwo Chukwuka Friday
Okoronkwo Ndubueze
Okoronkwo Okey Chris
Okoronta Grace N
Okose Elizabeth Adeyinka Ab Osed
Okosun Ehianata Annette
Okosun Michael Enahoro
Okosun Romanus Erimwingbovo
Okougha David Osemudiame
Okougha Modupe Olanike
Okowi Ngozi
Okoye Angela Nwuka
Okoye Benedeth Ify
Okoye Chinyere Stella
Okoye Christabel Julie
Okoye Christian
Okoye Cosmas J.
Okoye Ebele Esther
Okoye Ekenedilichukwu
Okoye Ifeanyi Colin
Okoye Loretta Nkolika
Okoye Michael Chukwunwike
Okoye Nkiru Ruth
Okoye Obiageli Sabina
Okoye Obumneme
Okoye Reginald
Okoye Sidney Chukwuemeka
Okoye Thaddeus Sunday Chukwuka
Okoye Tiko Emmamuel
Okoyeagu Patrick Uchenna
Okoyeigwe Ofodile Kennedy
Okoyeimo O.cyprian
Okpaise Benjamin
Okpala Chibuzor
Okpala Grace
Okpala Ikechukwu Nnamdi
Okpala John Ifeanyichukwu
Okpala Stella Uzoamaha
Okpala Tochukwu Joel
Okpalanze Nwachukwu Boniface
Okpalla Chukwunonso
Okpanachi Jeremiah Adejoh
Okpanachi Peter
Okpara Chinonye Joy
Okpara Chukwunyere Jonas
Okpara Lovina Ola
Okpara Obinna Ekenyere
Okpara Onyemaechi
Okpara Patricia Ngoruma
Okpara Susan Chigorom
Okpe Adakole Samson
Okpe Stella Nwachi
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
7480
7481
7482
7483
7484
7485
7486
7487
7488
7489
7490
7491
7492
7493
7494
7495
7496
7497
7498
7499
7500
7501
7502
7503
7504
7505
7506
7507
7508
7509
7510
7511
7512
7513
7514
7515
7516
7517
7518
7519
7520
7521
7522
7523
7524
7525
7526
7527
7528
7529
7530
7531
7532
7533
7534
7535
7536
7537
7538
7539
7540
7541
7542
7543
7544
7545
7546
7547
81389
81390
215852
215937
81420
81463
81471
81475
81479
212133
229995
215266
81530
81568
81570
81582
215840
81641
121942
81646
81648
81656
81661
81665
81666
81667
81674
81676
81678
81699
81702
120834
224349
228954
81749
81751
81757
81767
122180
81776
81799
81800
113333
81825
81841
81847
81855
81858
81878
81894
231087
81901
81906
81909
81910
81911
81929
208879
227309
116352
81950
81958
81960
215740
81976
217486
82006
82010
78330
38631
29213
78336
78338
27168
27169
78349
103839
78355
78363
78369
78373
78382
4992
78390
78400
78411
78415
29217
78417
78422
78427
78429
78431
78433
27181
78435
78436
29219
78443
35982
29221
78459
31102
78463
78466
78473
78474
78479
14408
78493
27187
78509
78517
98203
78523
19113
31104
42154
78539
29226
78541
78542
22794
22795
42155
27190
22797
35989
78556
78560
78562
90821
27192
103852
78576
42160
7548
7549
7550
7551
7552
7553
7554
7555
7556
7557
7558
7559
7560
7561
7562
7563
7564
7565
7566
7567
7568
7569
7570
7571
7572
7573
7574
7575
7576
7577
7578
7579
7580
7581
7582
7583
7584
7585
7586
7587
7588
7589
7590
7591
7592
7593
7594
7595
7596
7597
7598
7599
7600
7601
7602
7603
7604
7605
7606
7607
7608
7609
7610
7611
7612
7613
7614
7615
82012
215250
82020
82036
82041
230379
82065
206057
82089
120010
213846
82186
82197
218160
82218
82223
82233
82242
82249
82260
82264
220090
222140
82302
220802
123300
82354
82323
122620
82333
82336
220522
118287
82362
207556
82372
82373
113820
82400
82407
82410
82415
82427
227715
115514
225621
214130
215042
82446
82451
82457
224231
118572
113279
82509
231666
82517
113145
232377
82563
82574
82576
82577
82584
82588
82633
82648
82668
78578
35997
78584
78596
98209
90822
78610
78621
98217
78644
78668
78658
90826
47100
78673
92927
36002
78681
98238
92934
101275
98252
78704
36004
94637
78726
78728
78709
78730
78714
78716
98262
78739
78737
78740
92944
92945
104781
78752
98271
78755
78757
78761
78762
78769
78770
78771
78798
49943
78775
78779
36010
42171
78806
78796
98284
78810
78826
78822
98293
78835
78836
98299
78838
78842
78859
78868
78879
Okpechi Emmanuel Obiuto
Okpechi Orji Johnson
Okperan Kingsley Ikponminosa
Okpo Asuquo Asuquo(2)
Okpoebo Clifford Uche
Okpomo Okiemute Valentina
Okposio Eraye Godspower
Okpoyo Okpoyo Okon
Okpozu Otsonu Samuel
Okpurhe Caroline
Okubajo Afolabi
Okuboyejo Adetokunbo Mrs
Okudo Ifeoma Evangeline
Okuma Kaycee Chijioke
Okumagba Anna Oyowuikoni
Okumoto Nigeria Limited
Okunade Adesegun Adeoye
Okunbor Idedia Charles
Okundaye Nike (chief Mrs.)
Okundia Wilson
Okuneye Abolupe Abiola
Okungbure Adetokunbo Remilekun
Okunjemiruwa Ayodele
Okunjemiruwa Ololade
Okunjemiruwa Tosin
Okunkpolor Micheal Osahon
Okunlaya Mobolanle Omowunmi
Okunlola Abimbola Morenikeji
Okunlola Adesunbo Ajoke
Okunoguae Gloria Ifueko
Okunola Adelokuh Ayofe
Okunrinboye Joseph Daisi Mr.& Mrs.
Okunwague Osamuede Elvis
Okunzuwa Osaruyi Charles
Okuonghae Veronica
Okuoye Abiodun Aina
Okupe Adedunmola Omolade
Okurumeh Oyayero Andrew Ovayero Andrew
Okusaga Abosede Oluyemisi
Okusanya Adebayo Adefemi
Okusanya Samuel Oluwafemi
Okusanya Sean Adeolu
Okusi Ese
Okuyemi Modupe Elizabeth
Okwara Fred Ikechi
Okwara John Chinedu
Okwarabuzie Venisus.n.
Okwaraoha Alban Ikechukwu
Okwo Ifeoma Mary
Okwori Hyacinth Mathias
Okwu Amaka Rose
Okwu Ifeyinwa Euphemia
Okwuadigbo Jason Ezeoma Ikechi
Okwuaka Princess Amarachi
Okwuanaso Chinelo Ifeyinwa
Okwuanaso Obiageli Regina
Okwudire Ann
Okwudishu Dumebi Emmanuel
Okwudoro Onyinye Cynthia
Okwudu Nnebuogor Ngozi
Okwumuo Nduka Jude & Chinelo Chri
Okwunwa Olabisi Oluwakemi
Okwuo Annasthasia
Okwuokei Ebonne Samuel
Okwuone Iloba Vincent
Okwute Kenneth Chukwuma
Ola Comfort Oluwayemisi
Ola Emmanuel
About Us
Ola Eunice Oluwatosin Ola Jumo
Ola Mutiat Mojisola
Operational
Ola Olakunle Lekan
Review
Ola-aroyewun Muhammed Ikleel Olade Le
Olabamiji Samson
Olabanji Raphael Olajompo
Corporate
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Governance
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Olabiyi Oyinade Titilayo
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Financial
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Statements
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Oladapo Olaniyi
Oladebeye Mercy Itohan
Oladebo Isaac Adepoju
Oladeinde Adebayo Kolawole Oluf Emi
Oladeinde Saheed Abolore
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Oladeji Michael Ajibade
Oladeji Rianat Abidemi
Oladeji Taofeeq
Oladejo Olanrewaju Tosin
Oladejo Raheem Olawle
Oladejobi Godwin Adgbola
Oladele Alice Adefunmike
Oladele Ayodele O. & Omolara O.
Oladele Femi Dare
Oladele Jacob
Oladele Oladapo
Oladele Oladipo
Oladele Olateju Oyeleke
Oladele Oyetosho
Oladepo Folasade Oluwakemi
Oladepo Moshood Kolawole
Oladepo Olugbenga Ezekiel
Oladigbolu David Temilade
Oladigbolu Florence Folashade
Oladija Gabriel Omotayo
Oladimeji Joseph Francis Olufol Arin
Oladimeji Muinat
Oladimeji Olajire
Oladimeji Olufumke Bola
Oladimeji Roland-oludola
Oladimeji Saka Owolabi
Oladimeji-yisa Taiwo
Oladini Adedamola Ayo
Oladini Racheal Adetoun
Oladipo Abiodun Blessing
Oladipo Amos Bello
Oladipo Dolapo Ibrahim
Oladipo Fatimah Adepeju
Oladipo Olabisi Folake
Oladipo Olalekan
Oladipo Oluseyi Ekundayo
Oladipo Tope Oladele
Oladipupo Adetoyese
Oladipupo Adijatu Kubura Ranti
Oladiran Akinyemi Raymond Mr.
Oladiran Julius Oluwadare
Oladiti Olaide
Oladoja Bayonle Arimiyau
Oladoja James Olanrewaju
Oladoja Josiah Olawale
Oladokun Babatunde Moses
Oladokun Motunrayo Khadijah
Oladosu Saheed Akofe
Oladotun Olumide Paul
Oladunjoye Muyideen
ANNUAL REPORT
2014
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
7616
7617
7618
7619
7620
7621
7622
7623
7624
7625
7626
7627
7628
7629
7630
7631
7632
7633
7634
7635
7636
7637
7638
7639
7640
7641
7642
7643
7644
7645
7646
7647
7648
7649
7650
7651
7652
7653
7654
7655
7656
7657
7658
7659
7660
7661
7662
7663
7664
7665
7666
7667
7668
7669
7670
7671
7672
7673
7674
7675
7676
7677
7678
7679
7680
7681
7682
7683
82672
82678
82688
82699
82701
82702
82717
82719
229092
218164
82754
82770
117551
213145
82794
82800
82804
82831
82841
82843
82850
82878
207585
117920
82906
122098
82915
82917
82922
82924
82935
221138
82953
82955
82958
82967
210783
82994
82995
83002
224883
83011
83014
83057
216068
83068
112998
83091
115147
83096
83105
83106
83123
83149
83150
83160
220858
83174
210695
216836
218742
83203
124055
83218
83231
83233
83262
83267
78881
78886
78898
78904
78907
78908
78916
78917
78923
78927
78939
78949
78970
78973
36017
78963
78964
78982
78991
78992
14418
79009
79049
79051
94661
79052
79026
27200
79029
79031
98344
79053
98346
79043
79044
90836
79060
79063
79064
36024
92975
79068
36025
79092
79099
79097
79130
79108
94668
98371
27202
79115
36030
90842
79136
79138
79143
79146
79152
36033
101286
79157
79160
79162
98392
98393
79178
79180
7684
7685
7686
7687
7688
7689
7690
7691
7692
7693
7694
7695
7696
7697
7698
7699
7700
7701
7702
7703
7704
7705
7706
7707
7708
7709
7710
7711
7712
7713
7714
7715
7716
7717
7718
7719
7720
7721
7722
7723
7724
7725
7726
7727
7728
7729
7730
7731
7732
7733
7734
7735
7736
7737
7738
7739
7740
7741
7742
7743
7744
7745
7746
7747
7748
7749
7750
7751
83268
83269
83272
83281
213008
83286
83295
83298
83300
83303
220482
83312
83325
83334
222673
83347
230338
83354
83373
83390
219085
83391
83397
83407
83409
83420
83511
83541
83553
83574
83601
83617
115583
209785
83636
83648
83767
83776
83812
83813
83837
120388
83861
83873
83879
83906
83907
83928
83991
83959
116430
84001
84006
112675
84041
84049
213496
84072
84097
124646
84121
84167
84173
84179
84191
84215
84223
84226
36037
79183
79184
79187
79198
79192
79199
79200
94680
79201
79223
79206
98415
79215
79226
49967
79230
79231
79236
94682
92989
79243
95
79251
79253
79258
36044
79321
79323
79332
79343
79359
101294
79361
103869
79368
36047
36048
103872
79435
94696
79470
79457
79464
98502
79484
79485
98506
36054
79502
79525
79528
79532
79541
79550
79554
79560
79562
79572
79574
79585
79609
79611
79613
79618
42214
79632
50002
Oladunjoye Olawale Taofik
Oladunjoye Rauf Oluwatosin
Oladunmi Olumuyiwa Adebowale O
Oladuntoye Ayodeji Abiola
Olaegbe Abimbola Olatunbosun
Olaegbe Lateepha Aderonke
Olafioye Aderemilekun Matthew
Olafisoye Kole Olatunde
Olagbaju Olanrewaju Gbemiga
Olagbenro Christiana Omolola
Olagoke Onaopemipo Olagoke
Olagundoye Tolulope Omowunmi
Olagunju Bolanle Olajumoke
Olagunju Janet Oluwakemi P
Olagunju Matthew Olusegun
Olagunju Olatunji
Olagunju Oluwaseun Arowolo
Olaifa Olasunkanmi Olawale
Olaitan Abdul Wahab
Olaitan Adegboyega Akanbi
Olaitan Joseph
Olaiya Festus Olawale
Olajide Adenike Monsurat
Olajide Anuoluwapo Aremu
Olajide Bamidele Omoniyi Chri Stop
Olajide Daniels Bello
Olajide Henry Sunday
Olajide Jimoh Musiliu
Olajide Keji
Olajide Lateefah Teniola
Olajide Moshood Afolabi
Olajide Olabode
Olajide Olusola Aduke
Olajide Oluwatobi Oluwademila De
Olajide Oluwatoni Mofiyinfolu Wa
Olajide Simeon
Olajonlu Olusola
Olajubutu Olumide Philip
Olajubutu Sola
Olajuwon Oluwatoyin Loretta
Olajuwon Otesile
Olakanpo Olubunmi Hazel
Olakanse Olufolake
Olaleke Sola Sunday
Olalere Deborah Ebunlomo
Olalere Kehinde
Olaleye David Akinola
Olaleye Ganiyat Abidemi
Olaleye Isaac Taiwo (engr.)
Olaleye Kunle Omosebi
Olaleye Olabode Bolarinwa
Olaleye Oladapo Towoju
Olaleye Oluwagbemiga Jesse
Olaloye Omowumi Omotoyosi
Olaloye Rasheed Olabode
Ola-michael Comfort Temilade
Olamiposi Ogundipe
Olamoyegun Zacheus Gbenga
Olanihun Abisola
Olaniji Rahman Oladotun
Olanike Olayiwola Shakiratu
Olanipekun Olusegun Tunji
Olanipekun Sikiru Jimoh
Olaniran Gboyega Alaji
Olaniran Olubunmi Deborah
Olaniran Reuben Akinyele
Olaniyan George Olufemi
Olaniyan Joseph Adewale
ANNUAL REPORT
2014
Olaniyan Kayode
Olaniyan Lukmon Oladunjoye
Olaniyan Oladimeji Ojo
Olaniyan Olutoba Muyiwa
Olaniyan Omowunmi Wusamot
Olaniyan Rasheed
Olaniyi Abiobun
Olaniyi Akinyemi Oladipo
Olaniyi Atanda Mathew
Olaniyi Climentina
Olaniyi Folashade Kehinde
Olaniyi Joseph Olawale
Olaniyi Oladimeji Gafar
Olaniyi Olayinka T.
Olaniyi Oluwatosin Mary
Olaniyi Taiwo Azeez
Olannye Odigwe Henry & Awele Anthonia
Olanpejo Oluwatamilore Bethel Onoh
Olanrewaju David Oladijo
Olanrewaju Margie Foluso
Olanrewaju Maria Toyin
Olanrewaju Modupe Omotayo
Olanrewaju Oba Sulaiman
Olanrewaju Oluwabunkunola Titila Yo
Olanrewaju Omotayo Victoria
Olanrewaju Temitope Olusola
Olaoti Olatiwola Bolarinwa
Olaoye Olutoyin Esther
Olaoye Teresa Nwaefuru
Olapade Saheed Babatunde
Olarewaju Olawunmi Oyeyemi
Olarinde Olugbenga Diekola
Olarinoye Enoh
Olaroye Alfred Ademowo
Olasanya Gbolahan Olanrewaju
Olaseinde Emmanuel Ayodele
Olatokun Comfort Adeboyin
Olatomide Daniel Adewale
Olatuga Oluremi Linda
Olatuja Abayomi Omobamidele
Olatunbosun Omolola Idowu
Olatunde Hazzan Hafeez
Olatunde Lateef Ayoola
Olatunde Oyetola Abiodun
Olatunde Sunday Ayodeji
Olatunji Bamidele
Olatunji Bolaji Adeyemi
Olatunji Josephine Ijeoma
Olatunji Olayemi Sefiu
Olatunji Oluwafolakemi Olamid E
Olatuyi Omotayo
Olawale Bosede Oladunni
Olawale Janet Adepeju
Olawale Oluwatoyin Ajoke
Olawin Saudat Dashola
Olawore Fasilat Adenike
Olawoye Abimbola
Olawoyin Felicia Folake
Olawumi John
Olawumi Ruth Oluwapelumi
Olawuyi Irewolu Moses
Olayemi Henry Kehinde
Olayemi Olufunke Omolayo
Olayemi Omowaleola Adekemi
Olayeye Clement
Olayinka Busayo Olalekan
Olayinka Gabriel Olanrewaju
Olayinka Jacob Kehinde
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
7752
7753
7754
7755
7756
7757
7758
7759
7760
7761
7762
7763
7764
7765
7766
7767
7768
7769
7770
7771
7772
7773
7774
7775
7776
7777
7778
7779
7780
7781
7782
7783
7784
7785
7786
7787
7788
7789
7790
7791
7792
7793
7794
7795
7796
7797
7798
7799
7800
7801
7802
7803
7804
7805
7806
7807
7808
7809
7810
7811
7812
7813
7814
7815
7816
7817
7818
7819
84244
212460
84255
84277
84290
84293
84312
84331
214878
84417
84432
84440
215344
84484
219562
84586
84666
84682
84740
210122
84796
84805
84853
84861
84873
84880
221736
84913
84914
84915
225525
218458
84938
84940
84941
84947
84950
84967
232278
232326
221524
84986
121291
220559
85039
85041
85053
222843
124520
85067
85078
85122
85124
85144
85149
85169
85173
223121
227071
227074
85235
85238
120170
205793
85289
85306
216111
85319
79639
79644
79640
42218
98540
79651
79657
98555
19118
36067
79699
79701
22807
79720
43753
79765
36080
79812
79839
36086
79858
79865
79888
79894
79899
13043
79908
79913
103894
79914
79926
79927
79929
79930
79931
103895
36097
79942
27229
27230
103897
90884
79966
79967
42236
79970
36106
79978
79982
79983
89605
31118
80009
29236
80018
80029
98602
80048
80053
80062
80074
80075
80087
80099
80105
42250
80118
80122
7820
7821
7822
7823
7824
7825
7826
7827
7828
7829
7830
7831
7832
7833
7834
7835
7836
7837
7838
7839
7840
7841
7842
7843
7844
7845
7846
7847
7848
7849
7850
7851
7852
7853
7854
7855
7856
7857
7858
7859
7860
7861
7862
7863
7864
7865
7866
7867
7868
7869
7870
7871
7872
7873
7874
7875
7876
7877
7878
7879
7880
7881
7882
7883
7884
7885
7886
7887
85322
112721
57176
209869
85348
85351
85356
211624
110809
225836
85408
85412
211263
85435
85453
85527
85530
85542
85549
85550
85553
85575
218389
213528
229617
85628
212839
85678
85717
230381
122606
85744
111533
219005
85782
85785
85796
85801
85804
85806
208063
211607
85819
206859
226259
85852
85854
118499
220576
118953
85928
206005
85951
85953
85969
85971
85976
227468
85991
86024
86032
219765
207315
86055
86062
86065
86070
86073
80123
80125
80138
80143
80146
80149
80151
98615
80175
80170
36118
80173
80183
80185
36119
36121
36123
80223
19122
80228
80230
80240
103905
80251
80249
80257
80268
105342
80289
80290
80300
80304
80308
80316
80327
103907
98637
80333
80335
43766
80340
80342
47121
80345
80344
93103
98643
98645
36135
80390
101309
36136
80407
94734
103
80412
80416
80423
29917
80431
80436
80441
36139
22809
20410
80457
98653
80461
Olayinka Oluseyi Omotayo
Olayinka Omolayo
Olayinka Samuel Oluwaseun
Olayioye Serah Ibidun
Olayiwola Babatunde Abdulsalam
Olayiwola Bushirat Bola
Olayiwola Olanrewaju
Olayiwola Taofik Ajao
Olebunne Ikenna
Olika Oka Juliet
Olisa Elizabeth Omowunmi
Olisa Ngozi
Olise Clive
Oliyide Ismaila Olanrewaju
Ologunagba Bernard Segun (rev. Fr)
Oloidi Veronica Jokotola
Ololade Rotimi Olatunji
Ololuo Peter Olajide
Olora Aarinola Olusola
Oloriegbe Ekon Emen Racheal
Olorunfemi Judith Funmi Esen Eme
Olorunfemi Olusegun Oluwole
Olorunmeyan Ezekiel Segun
Olorunnisola Bilqis Ajoke
Olorunnusi Oluwatosin Elijah
Olorunshogo Samvictor Olawale
Olorunsola Yewande Adesanya
Oloruntoba Sanya Igbekele
Oloruntobi Olukemi
Oloruntobi Regina Modupe
Olotin-olufemi Steven
Oloto Adebayo Modinat Adewunmi
Olotu Emmanuel Olugbega
Olotu Francis Ojo
Olotu Francis Ojo
Olotu Olafemi Ayopo
Olotu Olatunde Olajide
Olowe Olusegun Lawrence
Olowo Olugbenga Kolawole
Olowo Olugbenga Kolawole
Olowodasa Madiah
Olowofela Abimbola
Olowole Olumide
Olowombi Joan Bolajoko
Olowoniyan Florence Olu
Olowonmi Michaela Olushola
Olowookere Mojisola Adepeju
Olowookere Oladimeji Yusuf
Oloworaran Funlola
Olowosaga Olasoji Dada
Olowosulu Ruth Omotayo
Oloye Ogo'luwa Henry
Oloyede Abimbola Toluwalope
Oloyede Henry Olasan
Oloyede Julie Amen
Oloyede Oyegoke.e
Oloyede Rasheed Ayodele
Olu-ajayi Rasheed Ayinde
Olubajo Babatunde Ayodele
Olubajo Temitope Bolanle
Olubiyi Ismaila Babatunde
Olubiyi Yusuf Owolabi
Oluborode Funmilola Dolapo
Olubunmi Atinuke
Oludare Adeyemi Alexander
Olude Ademola Olayiwola
Olude Oluwatobi Bolarinwa
Oludemi Morakinyo Adeshina
About Us
Oludemi Soboyejo Akintayo
Oludemi-johnson Yemisi
Oluehi Joshua Chikaodinaka
Olufade Abdulkabir
Olufayo Gabriel Olufemi
Olufayobi Olusola Teleola
Olufe Esther
Olufisibe Babatunde
Olufowobi Moruf Adekunle
Olufowobi Moruf Adekunle
Olufowobi Oladipupo
Olufowobi Omotayo Ibrahim
Olufuwa Adetula Kayode
Oluga Babatunde Simeon
Olugbamila Marvellous Ayodeji
Olugbodi Esther
Olugbogi Aaebayo Benjamin
Olugbuyi Adeolu Oluyele
Olugu John Kalu
Olugunwa Mayowa
Oluigbo Ego Anne
Oluka Ikechukwu Elijah
Olukemi Oloruntobi
Olukoga Oluwalotobiju Tanitolorun
Olukoga Williams Abayomi
Olukotun Philip Tunde
Olukoya Winnifred Ayoka
Olulode Olusola Seyi
Olumide Ibilola Iyadunni
Olumide Idowu Ajayi
Olumofin Itohan Claudette
Olumosu Adedotun Grace
Olumuyide Abayomi
Olunlade Dauda Amoo
Oluogbagbemi Funke
Oluoha Samuel
Oluokun Olatunji Akeem
Olu-okuo Juliamah Bummi Modupe Olu
Oluoma Remigius Ogomuegbunam
Olupeka Babafemi Emmanuel
Olupitan Temitope
Olupona Akindele Isaiah
Oluranti Ahmed
Oluremi Charles Olugbenga
Oluremi Kehinde Olugbemisola
Olusanya Daniel Mayowa
Olusanya Eunice Olabisi
Olusanya Olawale Olabanjo
Olusegun Oluwole Majekodunmi
Olusesi Rahman Abiodun
Oluseye Isaac Abiodun
Oluseyi Paul Dada
Olusile Adeoye
Olusile Adeyemi Oluniyi
Olusoga Joseph Ojoipe
Olusoga Moremike Olugbemisola
Olusola Adefolaju Cole
Olusola Kayode Babtunde
Olusola Michael Ojo
Olutade Olumuyiwa Afolabi
Olutayo Olufunmilola
Olutimehin Olufunke Ronke
Olutimehin Oluwaseyi Titlayo
Olutunmbi Olufemi David
Oluwa Kafayat
Oluwa Mobolanle Adejoke
Oluwa Sidikatu Olajumoke
Oluwabamiwo Bosede Folasade
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
7888
7889
7890
7891
7892
7893
7894
7895
7896
7897
7898
7899
7900
7901
7902
7903
7904
7905
7906
7907
7908
7909
7910
7911
7912
7913
7914
7915
7916
7917
7918
7919
7920
7921
7922
7923
7924
7925
7926
7927
7928
7929
7930
7931
7932
7933
7934
7935
7936
7937
7938
7939
7940
7941
7942
7943
7944
7945
7946
7947
7948
7949
7950
7951
7952
7953
7954
7955
86104
86122
221681
86139
86154
86157
86161
86177
86182
86196
213280
113619
206800
86307
86342
86367
214577
86371
86377
222509
86413
86436
86443
86447
86458
117148
86477
213988
86494
86510
86513
86527
207016
117808
86559
86558
86569
86570
86572
86577
207948
86581
86583
220775
86647
86649
86650
86652
86653
86672
86704
86726
86739
86745
118276
86777
229412
86801
86810
86811
208666
86859
86905
86906
122216
86927
86931
123846
93117
80481
80490
94738
36147
80496
80498
80503
80504
80512
80526
80537
80570
80556
90919
90920
80592
36150
80598
31126
80604
10171
80618
80621
47125
27247
27248
80629
31129
80636
36160
36161
19125
80652
36165
36164
80658
80659
80660
80662
80664
80666
80667
80674
93131
80689
80690
80691
80692
80702
80712
36168
80732
80734
80742
80749
80754
29247
80765
80766
29249
80785
14461
14462
36177
29254
103917
42278
7956
7957
7958
7959
7960
7961
7962
7963
7964
7965
7966
7967
7968
7969
7970
7971
7972
7973
7974
7975
7976
7977
7978
7979
7980
7981
7982
7983
7984
7985
7986
7987
7988
7989
7990
7991
7992
7993
7994
7995
7996
7997
7998
7999
8000
8001
8002
8003
8004
8005
8006
8007
8008
8009
8010
8011
8012
8013
8014
8015
8016
8017
8018
8019
8020
8021
8022
8023
86934
86935
86937
232297
209012
86946
86981
86988
227313
87012
87020
232224
87036
87042
87075
220647
208847
87137
87143
223062
117557
209327
87169
87185
87190
87199
123878
87233
225002
87243
87246
216492
87268
87288
225507
87310
210202
87340
210070
87375
115232
124599
87392
87401
218975
87434
87440
121429
87468
87494
119614
87506
87512
119558
87529
87536
87537
87564
87589
205638
211445
111123
87611
87613
87643
87652
87654
87657
29255
29256
80825
29257
29260
80829
80850
80851
80860
80864
80866
80869
80870
80871
43776
80897
80903
93150
80905
80908
98712
29271
80914
80923
80924
19131
80950
80949
36191
80955
80957
29277
80960
2768
36194
29290
80982
29292
80995
81001
29299
103922
31135
27277
81052
81035
81038
81057
81060
81069
81090
36195
36196
81094
94774
81096
81097
81108
81123
81133
81134
81142
25412
81144
98736
81167
81168
81169
Oluwafemi Dorcas Abeni
Oluwagboun Olushola Matt
Oluwakemi Bankole
Oluwakuyide Olayemi
Oluwaniran Olubukola Abosede
Oluwanisola Samuel Akinwale
Oluwa-oshati Adelaja
Oluwasanmi Eunice Omoribiwa
Oluwasanmi Solomon A
Oluwaseun Adeyemi Ogunlaja
Oluwatomini Adesola Adesubomi
Oluwatuyi Olabimpe Olufunke
Oluwole Michael Adekunle
Oluwole Olatunde R.(ambassado R)
Oluwole-isaac Aneniyi Adewale
Oluyemi Ilori Abiola Florence
Oluyi Olanrewaju Omolade
Oluyinka Abosede Kofoworola
Oluyomi Olubunmi Deborah
Omada Boniface Chukwurolu 2
Omage Adenike Adebowale
Omale Siaka
Omambala Emeka Emmanuel
Omameh Peter Chukwumma
Omar Inuwa Abbas
Omarejivwie Eddie
Omasheye Ufuoma Precious
Omaye Rosemary Ladi
Omdsowom Olasoji Victoria
Omegah Chukwunonyerem Bonifa Ce
Omeh Christian
Omeire Martins Chimezie
Omejua Emeka Godwin
Omeke Chima
Omeliko
Miss Ene Onyeje
Omeliko Emmanuel Anama
Omene Abimbola
Omene Dobson
Omene Enameguono
Omene Olubunmi
Omeni Joseph
Omenihu Innocent
Omeninwan Sunday
Omeoha Francis
Omideyi Olatunde Kehinde
Omidi Isaac Onovuakpo
Omidi Oladys Ovuezire
Omidiji Elsie Modinatu
Omidiji Joy Oluwaseunfunmi
Omidiya Jaodat Mosunmola
Omikunle Aderomika Onikepo
Ominyi Moses Elwule
Omishakin Festus Gbenga
Omisore Adetoyese Matthew
Omisore Mojisola M
Omitoogun Sakiru Adedapo
Omiwole Olukayode & Adeola Mr & Mrs
Omo Edna Ouvezirie
Omoaka Fred
Omoaka Janet- Zuma
Omobude Ikonmwosa Kingsley
Omodunbi Emmanuel Gbenga
Omogbemeh Faith Alenosi
Omogbemeh Praise Onosithena
Omoge Otunba Kunle
Omoh Samuel Asikhamen
Omoigbedi Oke Oghene Nathan
Omoigberale Lauretta Igho
ANNUAL REPORT
2014
Omoigberale Michael Osasele
Omoigiade Amenaghawon
Omoigiafu Ann Ogbevire
Omoigiafu Nosa Lucky
Omoigui Emmanuel
Omoijuanfo Ifidor
Omojoye Esanbo Owoseni
Omokanye Omolara Monsurat
Omokhuale Alex
Omokhudu Oluremi Helen
Omokowajo Bosede Modupe
Omolade Ganiyu Akanni
Omolade Olaitan Martins
Omolaiye John Obafemi
Omole Aina
Omolewa Oladapo Daniel
Omoloja Oladipo O.
Omolokun Adewale Liadi
Omololu Modupeola Abiodun
Omololu Oluyinka Ibikunle
Omololu Thomas John E. Justice
Omoma Richardson
Omomo Iyetade
Omoni Aduke Lydia
Omoni Tonye Newton
Omonira Oloruntosin Stone
Omonojo Adefarahan Doyin
Omonojo Tajirin
Omonu Joseph Agada
Omopariola Adeniyi Oluwatoyin
Omopariola Oluwademilade
Omoregbe Benson Obasuyi
Omoregbe Imuetinyan
Omoregie Justin Enosakhare
Omoro Global Concept Ltd
Omorodion Samuel Osazuwa
Omorogbe Evans Ezemwenghian
Omoruyi Benson Airen Benjam In
Omosa Oluwatobi Ayodele
Omosehim Stella Morenike
Omosigho Mavis Isosa
Omosini Olusegun
Omosowon Adenayo Pius
Omosulu Samuel Bamikole
Omotayo James Olusegun
Omotayo Kayode Oladimeji
Omotayo Olanrewaju Olurotimi
Omotayo Williams
Omotehinse Martins Olatunji
Omotola Omolola Oluwabonmi
Omotosho Abdul Wahab
Omotosho Babatunde Bamidele Ma Yowa
Omotosho Eunice Iyabo
Omotosho Sule Ishola
Omotosho Tobalawi Gbemilek E
Omotoso Adebayo Sunday
Omotoso Adefolake Adeola
Omotoso Omotayo
Omotoye Samuel
Omotubora Bayode Orimisan John
Omotuenmhen Iwanehi Violet
Omovbude, Margaret Ifeoma
Omoviye Godspower
Omovo Emmanuel
Omoya Abike Comfort
Omoyele Atinuke Adeola
Omoyele Kolawole Ladipo
Omoyele Oluwaremilekun Kolaw Ole
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
8024
8025
8026
8027
8028
8029
8030
8031
8032
8033
8034
8035
8036
8037
8038
8039
8040
8041
8042
8043
8044
8045
8046
8047
8048
8049
8050
8051
8052
8053
8054
8055
8056
8057
8058
8059
8060
8061
8062
8063
8064
8065
8066
8067
8068
8069
8070
8071
8072
8073
8074
8075
8076
8077
8078
8079
8080
8081
8082
8083
8084
8085
8086
8087
8088
8089
8090
8091
87671
87681
87687
231362
87696
87700
87708
87709
87710
230383
124417
213688
224747
87796
87802
232489
87823
87833
87845
216277
87847
87898
87907
87934
87940
87950
87960
110235
87976
87983
207030
87998
88000
222247
88031
225146
88032
88041
88042
88050
123029
88078
88080
211375
88103
230384
88138
88156
88168
88169
88184
219134
88195
88201
217085
88212
88214
88233
88236
88237
88252
88281
225853
88328
88333
218810
88350
205561
81176
36203
101318
27284
98738
19132
81187
22817
81188
81192
93173
81226
81230
81241
31137
81254
81257
90951
22818
36205
81259
27296
36209
81302
81305
81312
81319
81328
81330
98752
81349
81343
81345
27299
81361
81362
36213
81364
94782
81368
81376
27300
81380
81386
36218
81398
98760
81410
81413
81414
81422
81448
81428
81433
90957
36220
81436
81456
36222
14476
81463
14477
81492
8651
36226
81502
81506
81515
8092
8093
8094
8095
8096
8097
8098
8099
8100
8101
8102
8103
8104
8105
8106
8107
8108
8109
8110
8111
8112
8113
8114
8115
8116
8117
8118
8119
8120
8121
8122
8123
8124
8125
8126
8127
8128
8129
8130
8131
8132
8133
8134
8135
8136
8137
8138
8139
8140
8141
8142
8143
8144
8145
8146
8147
8148
8149
8150
8151
8152
8153
8154
8155
8156
8157
8158
8159
88381
88403
88411
88424
88426
88428
116730
88484
88532
88533
117815
88545
88547
88553
88557
88572
221401
88584
124554
88604
88613
88620
124854
124063
88647
88649
122224
212270
88700
88696
215356
88703
223831
88741
228098
88757
88759
220558
88782
88794
224234
88841
213768
88899
88910
88924
88927
88948
88949
214445
88963
214409
88989
88990
89001
215562
89048
89065
89061
89075
89109
89113
89119
89121
222044
124112
89137
89145
81517
98780
81535
81543
81545
81546
42308
27307
27311
27312
81583
23678
27314
19135
31153
42309
36237
42311
36240
81599
29315
27322
81614
81615
81622
42314
81634
81636
27332
81638
31157
19138
22830
19141
81649
81655
31165
36252
101330
22833
81672
81681
22838
81688
19147
81698
36264
81705
9411
105345
19156
81724
42319
81716
81719
81749
90960
81746
22849
81753
81767
81770
36275
29320
101334
22857
81780
81784
Omoyugbo Opeyemi Ayodele
Omozokpia Chinyelu Eucharia
Omu Magdalene
Omu Orevaoghene Ezaena
Omueti Modupe Omogbohun
Omumuawuike Fabian Onyekachi
Omuya Tom
Ona Jude Ejiofo
Onabade Bamidele
Onabanjo Alexander
Onadeko Oluwafolakemi O.
Onadipe Seun & Grace
Onafeko Olawale
Onafusi Titilope Omobolanle
Onaga Anthony Chinedu
Onaghise Agharese Lucia
Onagoruwa Eriye Erena
Onah Chinedu Jim
Onah James Ikechukwu
Onah Josephat
Onah Josephine Ochuole
Onakpoya Mary Carmella Peace
Onalo Esther Aladi
Onanuga Adebayo
Onanuga Ayodele Luqman
Onanuga Funmi
Onanuga Toyin Olamide
Onaolapo Folashade
Onarimi Imoiseme
Onasanwo Samuel Adetunji
Onasanya Adebowale Saratu
Onasanya Mojolaoluwa Omotola
Onasanya Mustapha Murtala
Onashe Ese
Onatuga Oyindamola Ivy
Onatunde David Abolade Olusesan
Onatunji Emmanuel Ola
Onawunmi Olawumi Yetunde
Onawunmi Oluwale Abiola
Onayemi Morenike Tolulope
Ondoma-isaac Mary
Onedo Oghenerukevwe
Onefeli Lynda Ojiugo
Onewokae Mabel Affiong
Oni Adekunle Fatunwashe
Oni Ayodeji Olufunmilade
Oni Funmilayo Grace Onome
Oni Kabirat Olabimpe
Oni Oke Johnson
Oni Oladipo Olabode Odeji De
Oni Olugbenga Joseph
Oni Oluwafemi Emmanuel
Oni Oluyemisi Jadesola
Oni Paul Adekunle
Oni Taiwo Mary
Oni Tejumade Enitan
Oni Titilayo Fatima
Oni-awoyinka Agnes Olayemi
Onibasa Ramatu Jumai
Onibgbinde Adebayo Omotayo
Onieba Vera Omeba
Onifade Isiaka Alao
Onigbanjo Tajudeen Akanni
Onigbogi Isaac Olaitan
Onigbogi Shobuana Jain
Onikan Adeoye Omolade
Onikosi Raphael Olatunji
Onile-ere Kanyinsola Adunwale
About Us
Onilenla Omolara Adebimpe Abio Ye
Oniosun Jonathan Oladejo
Operational
Onipede Adeola Afusatu
Review
Onisarotu Kazeem Abayomi
Onisarotu Zainab Olubukola
Onisile Biola Aina
Corporate
Onoba Dayo Kehinde
Governance
Onoberhie Abraham Akpobasa-a
Onofiaefe Blessing Dennis
Onofiaefe Oghenerukevwe Beauty
Financial
Onogu Leo Godman
Statements
Onogu Muhammed Ibrahim
Onoguwe Princewill Presswell
Onoh Josephine Obiageri
Onoh-cosmas Chimdimma Nora
Onoja Grace Adunui
Onoja Nancy Sunday
Onoja Sunday
Onoja Titilayo Dorothy
Onojobi Cecilia Olufunmilayo
Onokerhoraye Josephine Bosede
Onokpikini-naibe Ejakpovi Hope
Onomakpome Edore
Onomakpome Edore Elawe
Ononiwu Nkeiru Agnes
Ononiwu Okechukwu Donatus O
Onoro Godwin & Doris (mr & Mrs)
Onosevwe Ejiro Jude
Onovo Chukwuntae Chukwuwike
Onovo Oluchukwu Uzoamaka
Onovo Philomina Uzoamaka
Onovughakpor (mr/mrs) Kingsley And Linda.o.
Onu Emeka Innocent
Onu Martin Ukah
Onu Ngozi I.k
Onuador Bertha Onyenachi
Onuaguluchi Dan Izuchukwu
Onuche John
Onuche Michael
Onuchukwu Omelogo Appolonia
Onuegbu Okechukwu
Onuigbo Happiness Ngozika
Onukwulu Rufus Obiora
Onumajuru Uche Blessing
Onun Edwin R Iwunzeh
Onunkwo Rita Uchenna
Onunkwor Ijeoma Stella
Onuoha Chidi Magunus
Onuoha Chijioke Amaechi
Onuoha Emilia Ozioma
Onuoha Igwe Christopher
Onuoha Josephine Funanya
Onuoha Oluchi Janet
Onuoha Onuoha Ejiogu Edmund
Onuoha Victor Chijioke
Onuorah Hilary Okechukwu
Onuorah Josiah Nnamdi
Onuorah Ogbonna Sylvester
Onuorah Stella Nwakaego
Onuwah Obidili Paulinus
Onwe Joseph Ikechukwu
Onweagba Stella Omagha
Onwionoko Effiong Sampson Okwong
Onwoamaka Daniel Ubaka
Onwordi Barnabas Augustine
Onwuachu Patrick Chukwuemeka
Onwuaduegbo Isioma Benedicta
Onwuanibe Chioma Obioma
ANNUAL REPORT
2014
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
8160
8161
8162
8163
8164
8165
8166
8167
8168
8169
8170
8171
8172
8173
8174
8175
8176
8177
8178
8179
8180
8181
8182
8183
8184
8185
8186
8187
8188
8189
8190
8191
8192
8193
8194
8195
8196
8197
8198
8199
8200
8201
8202
8203
8204
8205
8206
8207
8208
8209
8210
8211
8212
8213
8214
8215
8216
8217
8218
8219
8220
8221
8222
8223
8224
8225
8226
8227
89148
89152
89153
214500
207832
89167
226386
215778
228313
226653
70259
89208
219269
212099
222453
89249
89259
89263
89277
89282
89296
89302
89317
89332
89335
89340
89343
89361
89369
213362
89392
89393
89404
89410
115803
89467
89470
89480
89514
209461
89520
89532
227937
212341
207757
89538
89547
207215
89584
89600
227837
89622
89631
89635
89647
223487
89923
89705
89708
89711
89722
89724
231174
89738
89739
89757
215061
210376
81786
81787
22864
47138
81791
81792
81803
31188
81805
81809
81810
81811
81819
103957
19172
81828
27347
81836
81841
22884
19174
81847
19175
89618
22891
19176
22893
19180
29322
81878
36286
47141
81888
19185
47142
81915
9405
22901
81934
81937
36292
81942
22907
36293
81943
31203
22909
81955
81962
81965
81967
27359
81977
81978
81982
29325
81997
82013
103985
38670
12582
31211
19196
103986
82024
101344
82036
82037
8228
8229
8230
8231
8232
8233
8234
8235
8236
8237
8238
8239
8240
8241
8242
8243
8244
8245
8246
8247
8248
8249
8250
8251
8252
8253
8254
8255
8256
8257
8258
8259
8260
8261
8262
8263
8264
8265
8266
8267
8268
8269
8270
8271
8272
8273
8274
8275
8276
8277
8278
8279
8280
8281
8282
8283
8284
8285
8286
8287
8288
8289
8290
8291
8292
8293
8294
8295
89812
219446
89837
89843
224235
229997
89908
89939
220083
89985
89988
119947
90012
209339
90019
90021
90048
90098
90100
90114
90132
90134
213222
90154
232049
90187
90197
90203
90212
120191
90216
90225
90237
90242
90245
90248
90259
209904
90294
90296
90300
90305
90307
90321
117370
90330
209214
90373
90411
90436
229234
123109
90451
90463
90465
90468
90498
90507
90523
90529
90540
230168
90544
90591
90598
208673
90624
123886
19202
82049
47146
22939
31216
82069
82076
27367
82084
31221
22945
31224
11694
22946
42334
22949
29330
82124
94790
98801
43805
43807
19217
38683
38686
101349
19214
82162
36317
82175
105347
82167
38695
82176
82177
109
38698
82195
98808
42340
82203
82207
93217
82222
36322
104007
82230
38699
104010
82262
82263
82266
22952
22957
22958
22959
22965
82282
22970
29333
42343
22976
31238
82302
82304
82315
14495
104021
Onwuanyiam Raphael Chukwunetam
Onwuasanya Festus Chibueze
Onwuaso Charles Chinweze
Onwuasoanya Benedict
Onwuasoanya Lynda Nkechi
Onwuasor Nkechi
Onwubuariri Naboth Adindu
Onwubuya Darlyn Munachiso
Onwubuya Obunneme
Onwuchuluba Chinwe
Onwuchuruba Japhet Aham
Onwuchuruba Okechukwu Theophilus
Onwudinjo Osita
Onwuebuchi Clara
Onwuegbula Romanus Ezekwem
Onwuegbune Ignatius
Onwuegbuzie Mark Ifechukwude
Onwuekwe Sylvia Uzoyibo
Onwughai Victoria Ebose
Onwughalu Okechukwu Emmanuel
Onwuka Chukwudi Timothy
Onwuka Foster Chibuike
Onwuka Onyemachi
Onwukanjo Stella Amarachukwu
Onwukike Felicia Ifeoma
Onwukwe James Ogbuka
Onwukwe Kenechukwu
Onwumelu Maxwell Ifedilichukwu
Onwumere Jude Udochukwu
Onwuneme Prisca Chibuokem
Onwurah Ikechukwu Ochiagha
Onwurah Onyebuchi Festus
Onwutalu Nwaobi Emenike
Onwuzo Afam Augustie
Onwuzulike Anthony Uchenna
Onyeacholem Rose Afuluenu
Onyeachu Ekeoma Nkpola
Onyeagba Charles Okey Chike
Onyeaka Stephen Udeoba
Onyeakazi Bethrand Kelechi
Onyeali Mary June
Onyeanusi Akinsola Comfort Ndidi
Onyeanusi Anthony Ikechukwu
Onyeario Adu Matthew
Onyeario Rosemary
Onyebalu Osita Chukunwike
Onyebuchi Chidiebere Patricia
Onyebuchi Emeka
Onyedekegha Ikechukwu Christopher
Onyegbula Gladys Chinasa
Onyegbula Joyce Akunna
Onyeije Godwin
Onyeje Florence Abumchukwu
Onyejegbu Chinwe Ifeyinwa
Onyejelem Victor Udodiri
Onyeka Colette Oluwabamise
Onyeka Francis Chimezie
Onyekperem John Eziako
Onyekuru Innocent
Onyekuru Ngozi Joy Ayodele
Onyekwelu Donatus
Onyekwelu Ifeoma Chinyelu
Onyekwere Edwin Obioma
Onyekwere Lovina Nnedi
Onyekwere Nnenna Miriam
Onyema Amanda Nene
Onyema Amaobi Joseph
Onyema Augustine
ANNUAL REPORT
2014
Onyemelonu Stanley C
Onyemenam Njume Nnennaya
Onyenakazi Ngozi Nnenna
Onyenanu Eugene Azubuike
Onyenma Kelechi Grigory
Onyenuforo Nnamdi Odinakachukwu
Onyeoma Ikechukwu Ukwuome
Onyeugbo Blessing Ngozi
Onyeukwu Nkemjika Osinachi
Onyia Ethel Amuche
Onyia Josephat Chiwenyite
Onyia Rose Chima Nene
Onyike Chinwendu
Onyike Fidelis Uchenna
Onyilo Gloria Onyowo
Onyiluka Ikechukwu
Onyiuke Jude Ikechukwu
Opadola Oluwarotimi Moses
Opadoyin Ilufoye Oluniyi
Opaleye Bukola Abigail
Opaluwa Alice Adi
Opaluwa Haruna Ibahim
Opara Anastesia Chinenye
Opara Anthony Okebaram
Opara Chinemere B.
Opara Gloria Owyinye
Opara Kelechi Philomena
Opara Lucy Uzo
Opara Nneka Cyrina
Opara Ositadinma Ogugua
Opara Paschal
Opara Rose Chioma
Opara Virginia Onyemechi
Oparah Christy Chinyere
Oparah Eucharia Chisa
Oparah Franklin
Oparasi Odichi Georgenia (mrs )
Opata Peter Oladele & Olukemi
Opawumi Olajide
Opawumi Omolola Hanna
Opayemi Oluwakemi.muyinat
Ope Delphine Nyonke
Opebiyi Basirat Funmilola Keh Inde
Opeloye Sidikat Adesola
Opeloyeru Hameed Ajibaiye
Opene Victor Otunuya
Opeola Deji & Sola (mr & Mrs)
Opiegbe Ugochukwu Lawrence
Opurum Ohaeri Kenneth
Opute Omowonuola Oreoluwa
Oputeh Oshioma Frank
Oradubanya Chukwuemeka Cyprian
Oraegbuna Patrick Nwankwo
Oraelosi Charles Azubuike Chin Edu
Oraemesi Charles Nonso
Oragui Paul Osita
Orakwe Ngozi Philomena
Oramakinde Sunday David
Oranugo Chinedu Henry
Oranusi Solomon
Oratokhai Aifeloba
Orazulume Florence C & Samuel I
Orazulume Grace Ngozi
Oredemi Toyin Deborah
Oredipe Eleje Nkechi
Orekan Enitan Jimo A.
Orekoya Abimbola Anike
Orekoya Olusegun
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
8296
8297
8298
8299
8300
8301
8302
8303
8304
8305
8306
8307
8308
8309
8310
8311
8312
8313
8314
8315
8316
8317
8318
8319
8320
8321
8322
8323
8324
8325
8326
8327
8328
8329
8330
8331
8332
8333
8334
8335
8336
8337
8338
8339
8340
8341
8342
8343
8344
8345
8346
8347
8348
8349
8350
8351
8352
8353
8354
8355
8356
8357
8358
8359
8360
8361
8362
8363
90668
224980
120778
90704
90705
90734
90751
90756
90762
223579
90780
214545
211281
90817
90880
119964
90891
90892
90898
90906
209377
90954
90956
90961
220149
207007
90999
210326
229822
218873
91072
211405
91102
91114
211299
121505
91145
91149
91174
91199
224815
91215
91221
214851
91238
91243
91268
91269
91322
47304
91340
91372
91380
91402
91411
91414
91424
91426
91429
91430
91438
91475
91487
206609
91488
91489
91505
91495
93229
82344
36335
82361
42345
36337
82376
27394
27395
82383
98819
19224
105349
110
82427
31244
82428
19228
36344
31242
38703
37891
82439
82443
29344
36351
82463
82470
19238
36355
24654
101360
82501
27408
29347
36359
29349
82511
42356
82524
82529
27413
29359
82536
29361
82539
36364
82544
22991
22988
27425
27427
36368
27431
50063
82590
29377
36371
82593
36372
29378
29384
29387
36377
82605
82606
29390
27434
8364
8365
8366
8367
8368
8369
8370
8371
8372
8373
8374
8375
8376
8377
8378
8379
8380
8381
8382
8383
8384
8385
8386
8387
8388
8389
8390
8391
8392
8393
8394
8395
8396
8397
8398
8399
8400
8401
8402
8403
8404
8405
8406
8407
8408
8409
8410
8411
8412
8413
8414
8415
8416
8417
8418
8419
8420
8421
8422
8423
8424
8425
8426
8427
8428
8429
8430
8431
91517
91519
91520
91528
91531
91542
91544
91551
91555
91579
91580
91605
111778
225335
91618
214902
91636
91640
91648
91672
91673
213114
91686
91706
229414
227922
222891
91728
91730
227582
91747
91749
91750
91780
91794
218646
91822
91823
91895
91907
91923
227384
91965
92002
92007
223916
92026
92030
92038
92040
92041
216334
92063
92098
92113
92136
209328
92170
92180
226588
92204
92248
217582
92259
214153
212386
92306
210400
82620
29392
22993
82622
82624
29395
29396
27439
36384
93245
98844
82655
82663
27441
82665
82670
43824
89624
98848
82695
82696
82700
82708
82714
82715
82716
36393
82732
82733
82736
29401
29403
29404
36397
101365
82782
82775
82776
104063
82832
82840
82864
93263
82885
82887
29411
82893
36405
82897
82899
82900
82903
93274
82929
82934
82937
98867
82957
82962
82973
104066
36414
82993
27452
27454
90028
83009
83011
Oresanwo Abosede Omolola
Oresanya Ibilola
Orhorhoro Odiri Godwin
Orhuozee Theodora Osemwonyenmw En
Ori Sabarka Duwam
Oricha Elizabeth Azee
Orieneme Gloria
Orifa Edwin Afivie
Origbo Ufuoma Kesiena
Orimalade Racheal Adedoyin
Orimogunje Fehintolu Anthonia
Orioha Bright Nkemjika
Oriola Michael Sunday
Oriola Olufunmilayo Agbeke
Orji Agape Ijeoma
Orji Azubuike Abel
Orji Chijioke Etelberth
Orji Chino Malcon
Orji Chukwudi
Orji Felicia Goretti Nkech I
Orji Nneka Christiana
Orjianimaku Charles
Orjih K. Michael & Okuweh E. Nkec
Orjioke Okosisi Lazarus
Orobor Isoken
Oroge Olaoluwa Inioluwa
Oroh Emmanuel Census
Oroniran Olubunmi Abiola
Oruche Kenechukwu Anulika
Orue Anthony Anoh
Oruma Alhassan Musa
Orume Umaru
Osa Ikponmwosa
Osabor Christiana
Osabuohien Clement Osadolor
Osabuohien Jennifer A.
Osadolor Charles
Osadolor Osayi Sandra
Osagie Abieyuwa Juliet
Osagie Ododo
Osagie Philip Blessed
Osagieda Omogiate Collins
Osagiede Peter
Osagiede Taiye
Osaigbovo Agbonsalo Ulamen
Osaigbovo Joy Amen
Osaka Arthur
Osaka Ndidi Chineze
Osakwe Ernest Orakwue
Osakwe Godswill Chukwujekwu
Osamezu Juliana Iwejim
Osaremwinda Edna Noma
Osaretin Apollonia Talatu
Osasa Egwonor
Osasona Oladun David
Osasona Tunde Kayode
Osawaru Osatohanmwen Eghosa
Osawe Benjamin Alonge
Osawe Julie Nohenegbe
Osawe Nosa
Osawe-igharuosa Happiness Enos
Osazuwa Osaretin
Ose-aigbekaen Stella Osasogie
Osebor Obehi
Osede Victor Paul
Osedele Akinkugbe Rufus
Oseghale Nicholas
Oseghale Oseyi Joel
About Us
Oseke Justina Ng0z1
Osele Chinedu Pascal
Oselu Michael Ikechukwu
Osemene Boma
Osemene Chukwueloke Martins
Osemwegie Osazee
Osemwekha Juliet Ngozi
Osemwimyen Emmanuel Ekenomeghe
Osene Ruth Osa
Oseni Morayo Musina
Oseni Morufu Babalola
Oseni Wakilat Afolake
Osenum Doreen Ashiedu A.
Oseruvwoja Pius
Osetoba Ebenezer Olusoji
Oshadipe Aderinsola Adekunbi
Oshanisi Rachel Iyabo
Oshatimehin Abayomi Emmanuel
Oshi Adeola
Oshikoya Olufunmilola Kofowor Ola
Oshikoya Omoniyi Olubunmi
Oshilaja Benedict Oluwafunmi
Oshin Damilola Olukolade
Oshinaike Taiwo Olabisi
Oshinaike Taiwo Olabisi
Oshineye Adebimpe
Oshinowo Omotola
Oshinuga Titilayo Julios
Oshinusi Babajide Ayodeji
Oshiobugie Roberta
Oshiomah Asegiemhe
Oshiomah Onomoesi
Oshiomah Onosomhi
Osho Mercy Idowu
Osho Philip Onimisi
Oshodi Olasunkanmi Olaide
Oshodi Oluwakemi Oluwafisayo
Oshodi Osas Bright
Osiebe Emmanuel Ejaita
Osifeso Bankoke Oluwakayode
Osigwe Carol Chinyere
Osikoya Benedict Olufemi
Osikoya Patricia Adeola
Osimeye Oluyomi Olusola
Osimosu Adetola Adedoyin
Osimua Omoathekeona Raphael
Osindero Oluwatimilehin Adekun Le
Osineye Olufemi David
Osinkolu Modupe Juliet Titilay O
Osinloye Bisola
Osinloye Debo
Osinnaiye Olusegun Joel
Osinowo Omobola
Osipitan Bayo Biodun
Osisiogu Uzodinma Kenneth
Ositade Musili Adetutu Bola
Oso Beatrice Folorunso
Oso Olalekan Adesina
Osoba Alfred Olusesi
Osobase Victor
Osobinuanwu Edna Chinomso
Osoka Uchenna Chidinma
Osokoya Elizabeth Busola
Osoluka Maryann Ogechukwu
Osondu Josephine Mabel
Osori Adamu Odumu
Osowanlan Oziegbe Mike
Osowo Felix
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
8432
8433
8434
8435
8436
8437
8438
8439
8440
8441
8442
8443
8444
8445
8446
8447
8448
8449
8450
8451
8452
8453
8454
8455
8456
8457
8458
8459
8460
8461
8462
8463
8464
8465
8466
8467
8468
8469
8470
8471
8472
8473
8474
8475
8476
8477
8478
8479
8480
8481
8482
8483
8484
8485
8486
8487
8488
8489
8490
8491
8492
8493
8494
8495
8496
8497
8498
8499
92320
226122
92336
92343
92357
92365
92367
92369
220126
92381
209500
92392
92410
92412
92433
92464
92476
92539
92540
92552
92577
210459
92616
207509
232640
92645
121939
92660
214822
221638
92712
121856
227719
214061
92747
92757
212139
92764
210012
92768
92787
229138
92797
92818
92882
92883
92891
92906
92914
92920
92936
92937
92944
92968
92977
92981
92991
92995
93020
214368
93040
93044
93048
93116
230601
93169
93178
216259
31251
83016
83020
83022
36419
36420
36421
83029
104072
27457
90030
27458
19244
23000
83054
94804
83076
83093
29940
83100
83112
36428
104073
36430
24886
29424
29941
83135
83136
42377
89629
98894
27468
83175
104083
23003
27471
98897
98900
98899
27475
27476
29434
83198
83222
83223
25428
83232
83237
83242
38722
19248
36444
83264
83266
83269
19249
36446
94812
83284
83292
83295
83299
29447
83335
31258
98917
83378
8500
8501
8502
8503
8504
8505
8506
8507
8508
8509
8510
8511
8512
8513
8514
8515
8516
8517
8518
8519
8520
8521
8522
8523
8524
8525
8526
8527
8528
8529
8530
8531
8532
8533
8534
8535
8536
8537
8538
8539
8540
8541
8542
8543
8544
8545
8546
8547
8548
8549
8550
8551
8552
8553
8554
8555
8556
8557
8558
8559
8560
8561
8562
8563
8564
8565
8566
8567
120373
230602
230754
93252
93288
93299
93301
93303
212453
93389
93412
93434
93436
93453
93458
93472
93471
93483
219445
224982
93512
210328
114160
229576
93556
207882
93573
93584
215733
210755
93596
117215
93624
93646
93657
93672
93679
93744
93751
93758
93794
230298
93829
93833
113539
93837
93843
124401
215081
117513
93927
93930
93931
116781
93960
208882
94016
94025
94044
214762
94073
94082
94099
113155
94147
94170
223641
94225
83379
93311
93312
83387
83404
83408
9328
98931
83453
29454
36461
83464
42386
83471
83474
83486
83485
83494
83499
94822
24891
83511
83518
27924
19253
83520
83531
83536
93328
36469
93329
25432
27502
98957
105353
91000
94825
83591
83597
98964
29959
83611
94840
83623
93350
83624
83627
83638
36473
83660
98994
83672
83673
101376
83684
105354
83718
83722
38724
36478
83750
83756
83765
42405
36483
83799
83825
83827
Ossai Luke A
Ossi Moses Aja
Osu Mariagoretti.n
Osuagwu Bernadette
Osuagwu Irene Adanma
Osuagwu Nnamdi Anthony
Osuagwu Regina Obiageli
Osuagwu Richard
Osuamkpe Onisobileme Brantley
Osubor Kingsley Sunday
Osude Funmi Telsy
Osughe Osioakpeme Mary
Osuigwe Francis Ujunwa
Osuigwe Sunday Christian
Osuji Kemi Amam
Osunbitan Jimmy Akinfemi
Osundairo Oladipupo Olayinka
Osunleke Aderemi Abiodun
Osunleye Samuel Olaseinde
Osunsami Kayode Olalekan
Osuntoyinbo Richard Temitope
Osunwa Franca Chinagorom
Osuwa Modupe Mercy
Otairu Adbulganiyu
Otaka Dr Dickson Ndukwe
Otakhor Emmahuel Omoaluna
Otamere Richard Uyinmwen
Otarigho Ojevwe Gift
Otarighoronor Luckson Omamus
Otegwu Jones Olihi
Oteri Hauwa Edirin
Otesanya Joseph Temitope
Otiede Christiana Eseni
Otigbo Omolua Peggy
Otigbo Priscillia Nyege Priscillia Nyege
Otiocha Felicia Chinemeriela
Otite Duke
Otiti Alimatu Olufunmi
Otiti Ayodeji Nurudeen
Otiti Nurudeen(jnr) Temi
Otogbono Onome Gift
Otoibhili Benedicta Omozle
Otoijamun Irdia Fred
Otolorin Dauda Olusola
Ottun Muhammad Musbau
Ottun Mulikatu Arike
Otu Bassey Bassey
Otu Sotonye Grace
Otubogun Folawe Babalola
Otubu-watts Amajuoritse Enetetso Ma
Otuibe Everestus Maduabuchi
Otuije Ifeoma Ola
Otukoya Ibukun Bolutife
Otun Abiodun Olusegun
Otun Temitope Olabunmi
Otuneme Pearl Chigozie
Otunwa Chioma Gabrieline
Otuoepaikhian Ehinomen Regina
Otusanya Olutobi Olufunmilayo
Otusemade Stephen Segun
Otuyele Peter Taiwo
Ouec Investment Limited
Ovbiagbede Ifidon Mamud
Owabor Richard
Owatunmise Ruth
Owo Emmanuel Agbo
Owoade Olufemi Adeyemi
Owoeye Olajumoke Mofoluwake
ANNUAL REPORT
2014
Owoeye Olawale Adeolu
Owofemi Ifedolapo Olayemi
Owofemi Ikeoluwapo Kofoworola
Owojori Anne Jaiyeola
Owolabi Akintunde
Owolabi Bolaji Tajudeen
Owolabi Bose Christianah
Owolabi Clementina Bamidele
Owolabi Gbenga Musiliyu
Owolabi Oluwatimilehin Joshua
Owolabi Temilola
Owolana Olabisi Ayopo
Owoleke Olowo Emmanuel
Owonibi Ifeoluwapo Grace
Owoniyi Oluwole
Owootori Mrs Toyin Sarah
Owootori Santos Femi
Oworu Oyebunmi
Owoseni Serifat Taye
Owoseye Ayokunle Michael
Owotemu Veronica Temitayo
Owoyele Ganiyat Oyenike
Owoyemi Nicholas Adelani
Owujie Augustine
Owunna Daniel Obioma Nnabugw U
Owunna Fidelis Chukwuemeka
Oyabode Tinuade
Oyafajo Abiodun Saheed
Oyagbesan Festus Sunday
Oyaigbevwen Erieye Shirley
Oyaje Aladu Emmanuel
Oyama Violet Nenka
Oyasbarha Abel Akpovire
Oyawuyi Kolawole Olayonbo
Oye Margaret
Oyebade Olugbenga Paul
Oyebamiji Bashir Abubakar
Oyebanji Rafiu Olaitan
Oyebanji Temilola Olubunmi
Oyebanjo Olaonipekun Moses
Oyebola Matthew
Oyebola Oluwatobi Mrs
Oyedeji Daramola Isiaka
Oyedeji Folashade Gbemisoye
Oyedeji Ganiyu Alani
Oyedeji Henry Bolaji
Oyedeji Mofiyinfoluwa Alesand Ra O
Oyedeji Oluwakemi Abosede
Oyedele John Mafolasire
Oyedele Nelson Babajide
Oyedijo Jelilat Adeola
Oyedipe Rosalind Adebimisola
Oyediran Abisola Olubunmi
Oyedokun Ayo
Oyedokun Rafiu Adeola
Oyefeso Olumide
Oyegbola Oluwadamilola Ifeoluw Akii
Oyegun Alice Mojoyin
Oyejide George Oyeleke
Oyekale Nathaniel Abiodun
Oyekan Abiodun Adizat
Oyekan Ifalade Ajasa
Oyekan Temitope Thompson
Oyekanmi Adedoyin Abolaji
Oyekunle Joseph Olatunji
Oyelade Tawakalit Bolanle
Oyeleke Olukemi Ruth
Oyelere Adesoji Sunday
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
8568
8569
8570
8571
8572
8573
8574
8575
8576
8577
8578
8579
8580
8581
8582
8583
8584
8585
8586
8587
8588
8589
8590
8591
8592
8593
8594
8595
8596
8597
8598
8599
8600
8601
8602
8603
8604
8605
8606
8607
8608
8609
8610
8611
8612
8613
8614
8615
8616
8617
8618
8619
8620
8621
8622
8623
8624
8625
8626
8627
8628
8629
8630
8631
8632
8633
8634
8635
225481
94241
225482
94253
216977
94259
94290
218084
94330
209440
94341
94348
94383
94387
94403
94477
94494
94531
94553
94554
94571
94578
94601
211303
210880
94606
94614
221620
94670
94671
94679
94674
94693
94711
94729
94730
94752
94768
94776
94785
94790
231282
94818
94834
94836
94851
94856
215923
94866
94886
114913
94891
94893
230545
94909
207637
217123
115022
94939
94944
94950
94975
94980
95004
95034
95012
95023
117686
105355
99042
105356
83838
29461
29962
99045
31261
83880
99059
99055
83885
99063
14552
83908
83944
99073
7558
83972
93376
99084
83980
99087
84006
84007
83994
2871
99093
84035
36498
42419
84036
84044
27511
84051
84052
36506
91013
89640
84068
36514
84076
36516
36517
36519
29464
23014
36521
84095
84106
84107
84109
84110
84112
29465
31275
47172
36526
84125
84127
38727
27518
84135
42425
36530
101386
101392
37892
8636
8637
8638
8639
8640
8641
8642
8643
8644
8645
8646
8647
8648
8649
8650
8651
8652
8653
8654
8655
8656
8657
8658
8659
8660
8661
8662
8663
8664
8665
8666
8667
8668
8669
8670
8671
8672
8673
8674
8675
8676
8677
8678
8679
8680
8681
8682
8683
8684
8685
8686
8687
8688
8689
8690
8691
8692
8693
8694
8695
8696
8697
8698
8699
8700
8701
8702
8703
95064
95070
95082
95091
95176
231501
95188
95203
95214
95225
95236
124292
95273
218833
95304
95323
208372
95443
95446
95459
95472
95478
95480
95531
95537
95540
95541
95615
212406
95831
95844
120926
228840
96001
96003
96024
96026
96049
219657
96059
124046
96078
96081
96112
96096
96113
96116
96136
96144
96146
96151
96153
96154
96173
96179
207093
215547
118960
96224
124264
96306
96251
96265
96288
96295
96313
96320
96322
36533
84151
101404
84160
19863
42437
84179
84191
84198
29467
104140
84212
36545
84223
24662
93387
84240
36551
36553
84305
84308
84312
84314
84331
84336
101417
101418
36561
84410
84435
14572
101425
105361
84479
84480
84486
84487
47190
47206
47193
84518
84503
47198
36577
47201
84519
90038
84524
99140
99141
99143
99144
99145
99147
84538
36581
93410
89647
89646
84594
84595
84572
36587
84585
93412
42469
42470
84605
Oyeleye Adekunle Ibraheem
Oyeleye Funmilayo
Oyeleye Modinat Ibironke
Oyelodi Oyebola Ayodele
Oyelola Bolanle Waliyat
Oyelola Oyetunde
Oyemolade Toyin Ayofe
Oyendi Brightman
Oyeniy1 Olabisi Moses
Oyeniyi Festus
Oyeniyi Ismaheel Akano
Oyeniyi Omotayo Olanrewaju
Oyeola Juliana Olubunmi
Oyepeju Aderemi Abraham
Oyerinde Sunday Aderonmu
Oyetunde Olayide Lawrence
Oyetunji Oluwafemi Opeyemi
Oyewo Adeyemi
Oyewole David Oyedare
Oyewole Dotun
Oyewole Kehinde Isaiah
Oyewole Morolayo Oluwatoyin
Oyewole Rasheed Abiola
Oyewole Rufus Adetunji
Oyewole Segun Adetunji
Oyewole Taiwo
Oyewumi Ayobami Akinkunmi
Oyewusi Samuel Oyebode & Oluseun
Oyeyemi Omolara Nihinlolawa
Oyeyemi Peter Iranloye
Oyeyemi Samuel Esther Oyeyemi 0
Oyeyemi Samuel Olayiwola
Oyi Linus Chidiebere
Oyiborhoro Samuelikesiena
Oyinbo Abiola Faith Olawummi
Oyinbo James Amenawon
Oyinlola Opeyemi Oluwabunmi
Oyinloye Michael Ajide
Oyinloye Victoria
Oyofo Alima Louisa
Oyosoro Edith I
Ozakpo C. Augustina
Oziegbe Ben
Ozigis Hajiya Sabibat Ahuoiz A
Ozigis Sheidu Bello
Ozo Ehigiegbamen
Ozoani Emeka Kenneth
Ozodiniru Ndu Sunny
Ozoemene Eze Ekpeazu
Ozoji Ikechukwu Martin
Ozojiofor Christian O.
Ozoma Daniel Okechukwu
Ozomah Abimbola Omotayo
Ozor Charles
Ozor Chukwunalu Alexander
Ozougwu Loveline Uzoma
Ozowara Ifeoma Augustina
Ozoya Oluseyi Omobowale
Ozukwe Austin Eze
Ozulumba Ijeoma Lizzy
Ozumba Chinwendu Nwabueze
Paago Dinebari Victor
Padi Mabel Mammle
Pam Asabe
Pam Bot Phillippa
Pam Gwong George
Pam Rwang Datuk
Pantami Ibrahim Ahmed
About Us
Papka Nubwa Yusufu
Parah Julius Bawa
Parlong Kevin Longter
Paseda Abiodun Abimbola
Paul Biyama Petel
Paul Zirra John
Payne Olabisi
Pedro Khairaj Subuola
Pelemo Olatunbosun Richard
Pemu Akpufuoma Lawrence
Pepple Dennis Mark
Perfito & Aitrust Nig Ltd
Peter Gabriel Igoh
Peter Susan Faith
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Peters Favour Olusola
Peters Patricia Okuk
Philip Eleojo Asher Onu
Philip Iorlumun Mwuese Doo
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Phillips Oladoyin Foluke
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Rabilu Ahmad
Rabilu Fatima
Rabiu Faruk Rabiu
Rabiu Hamza Hadiza
Rabiu Isa
Rabiu Musa Ahmad
Rabiu Oyenike Taiwo
Rabiu Saadatu
Rabiu Saadu Saadu
Rabiu Suleman
Rablu Oluwatoyin Bilikisu
Rabo Ibrahim O
Rafuah Patrick Ogom
Rahamon Amidu Oyewole
Rahamon Fatimo Adetoke
Rahamon Muslimot Temilade
Rahamon Sheriffdeen Temidayo
Rahamon Sheu Temitope
Raheem Wasiu Akanbi
Rahman Adam Tolulope
Rahmon Yetunde Olusola
Raimi Anuoluwapo Elizabeth
Raji Abdul Fattaahi
Raji Abubakar Egigogo
Raji Ibrahim Alani
Raji J M Vincent
Raji Jaiyeola
Raji Maimuna Abubakar
Raji Rahman Temitope
Raji Sarafadeen Olajide
Raliya Ahmed Lere
Raman Taiwo Karimu
Ramon Habib Akorede
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
8704
8705
8706
8707
8708
8709
8710
8711
8712
8713
8714
8715
8716
8717
8718
8719
8720
8721
8722
8723
8724
8725
8726
8727
8728
8729
8730
8731
8732
8733
8734
8735
8736
8737
8738
8739
8740
8741
8742
8743
8744
8745
8746
8747
8748
8749
8750
8751
8752
8753
8754
8755
8756
8757
8758
8759
8760
8761
8762
8763
8764
8765
8766
8767
8768
8769
8770
8771
96330
232051
216208
96368
96381
96382
231581
96400
96405
96427
96445
96449
96479
96513
224996
228780
96570
96571
96625
96668
96670
96696
226250
96707
96769
206746
96821
96823
223083
96851
96858
232379
96904
96925
96928
96951
117526
118177
96972
96965
96981
96994
96997
96998
97014
97015
97016
97017
97019
97029
97049
97057
97067
112634
97115
97121
216529
97163
97205
97236
97244
97246
222259
97260
97264
206003
97275
97299
37895
84611
47215
94886
42472
84634
84647
99172
84649
84657
84661
84666
42476
84701
23686
101442
84710
42491
104174
47224
84745
84757
84758
27554
42500
47230
47231
42511
36604
47233
84801
37897
36608
104792
36610
23688
47262
36614
47264
47259
47268
47270
42531
47272
27556
84822
27557
27558
27560
43843
47282
47284
84836
84853
42538
42540
47299
104955
47308
42549
36628
47314
27564
37903
84896
84897
93438
84915
8772
8773
8774
8775
8776
8777
8778
8779
8780
8781
8782
8783
8784
8785
8786
8787
8788
8789
8790
8791
8792
8793
8794
8795
8796
8797
8798
8799
8800
8801
8802
8803
8804
8805
8806
8807
8808
8809
8810
8811
8812
8813
8814
8815
8816
8817
8818
8819
8820
8821
8822
8823
8824
8825
8826
8827
8828
8829
8830
8831
8832
8833
8834
8835
8836
8837
8838
8839
97290
97326
97332
97336
222054
97356
97363
97372
97391
97403
97408
97412
114088
97433
97440
97444
97445
232298
214084
97479
216462
97507
97510
97517
97518
97520
97521
97542
97562
110298
97583
114045
97587
97598
97603
97623
97626
119807
97657
97659
113945
209414
97691
97750
97752
215235
97777
97790
27882
97809
97814
97820
97826
97831
97838
97841
229358
226200
97868
97887
214410
97909
97941
97949
219644
97953
97993
97998
84908
42561
84928
99200
50136
50130
84942
99202
23033
93448
84967
93450
85034
84976
84979
36636
84981
84986
85037
36640
91029
85007
85008
85012
85013
85014
42569
85024
36643
42571
85057
85069
85060
85065
36644
85078
85081
94894
36648
50145
85096
101462
25438
47337
47340
47345
104191
104196
42593
23034
85113
36662
43852
85115
101470
23693
85118
47360
47362
25440
101472
42610
85127
50149
47386
91031
29482
85144
Ramzy James Oballim
Randaji Global Services Nigeria Limited
Rano Ali Aminu Bello
Rasaq Semiu
Rasheed Mustapha
Rasheed Oluwabunmi Isiah
Rauf Olabimpe Musifat
Rauff Latifat Olanike
Ravic Ventures
Redcliffe International Ltd
Remawa-fufore Halima Saadiya
Remi-john Adeola Omolewa
Reuben Joy Ify
Richie Adewusi Fola
I
Rilwanu Abubakar
Rimdap Namdap
Ringim Nafiu Sabo
Ringim Nurah Mohammed
Rogo Ibrahim Lawan
Rotimi Abdulsalam Osadolor
Rotimi Adedolapo Esther
Rowland Mabel Isekeije
Royal Business Club Of Nigeria
Roze Anirejoritse Stephen
Rufai Fatima Adenike Bashir
Rukayya Muhammad Inuwa
Rumasau Abba Sani
Rumi Ayuba
Ruth Sherif
SANUSI BARAUHARUNA
S0ewu Esther Abiodun
Saadatu Bome Ishaya
Saadu Rahmat Omotayo
Sabd Abubakar Liman-sanyinna
Sabir Raja'u Ahmad
Sabo Alhaji Aliman
Sabo Bawa
Sabo Safeeya Akama
Sabo Sambo Usman
Sabo Yusha'u
Sada Abdulsalam
Sadauki Farida Abubakar
Saddih Tessa Miriam
Saddik Gidabo Tahir
Sadik Abdul-azeez Babson
Sadik Adetoun Aminat
Sadik Bilkis Aweke
Sadik Farouk Babson
Sadik Lateefat Olajumoke
Sadiku Philip Ohiani
Sadiq Danlami
Sadiq Ibrahim Muhammad
Sadiq Mulikat Oluwadamilare
Sadiq Sekinat Aderonke
Saeed Habiba Haruna
Saeed Shemau Haruna
Sagagi Auwalu Saminu
Sahabo Hauwa Abubakar
Saidu Baba Ringim
Saidu Salihu Maimunat
Saidu Waziri Abdullahi
Saidu Yakubu Saidu Abubakar
Saiki Edyth Ozofu
Saini Umar Maryam
Sajere Neville
Saji Ayodele Suwebat
Saka Adedotun Adeyinka
Saka Fausat Olamide
ANNUAL REPORT
2014
Saka Nihinlola Olayinka
Salahudeen Maryam Sambo
Salako Adebisi Oladimeji
Salako Adetola Kafayat
Salako Ibrahim Moshood Adewale
Salako Mulikat Olufunke
Salako Olushola Akinwale
Salako Sule
Salam Oyewumi J
Salami Abiodun Nurudeen
Salami Aderonke Adedayo
Salami Afolasade Risikat
Salami Ayo Luqman
Salami Fatai Olanrenaju
Salami Gbolahan Ishau
Salami Hamid Adesunkanmi Ope Yemi
Salami Hassan Olanrewaju
Salami Idowu Sidikat
Salami Kazeem Abiodun
Salami Mistura Adewunmi Tolu Wani
Salami Muritala Samuel
Salami Olukayode
Salami Olusegun Olayinka
Salami Osaretin Aina
Salami Oseghale Anthony
Salami Rafat Adepeju
Salami Raimi Atanda
Salami Temitope Musiliu
Salau Baba Abdul Salam
Salau Jamil O
Salau Nasir
Salau Rafiu Ayanniyi
Salau Saheed Oluwatoyin
Salau Zainab
Salaudeen Abdulraheem Dele
Salaudeen Biliqis Olajumoke
Salawdeen Yusuf Balogun
Salawu Afolabi Abdulkareem
Salawu Kamarudeen Ayo
Salawu Kazeem Adekunle
Salawu Oluwatoyin Dr
Salawu Saudat
Sale Moh'd Gashuwa
Saleh Danbatta Saleh
Saleh Hotoro Halliru
Salga Laminu Mahmoud
Salihi Asmau Umar
Salihu Adamu Bobuwa
Salihu Hauwa
Salihu Ibrahim
Salihu Lawal
Salihu Muhammad Abdullhhi
Salihu Musa Ohiani
Salihu Ramat Abubakar
Salihu Victor Abbass
Salihu Yakubu
Salimanu Aransiola Atanda
Salisu Abdullahi
Salisu Aisha Haris
Salisu Ibrahim Hassan
Salisu Musa Alhassan
Salisu Rukayya
Saliu Adeyemi Akanbi
Saliu Hudu
Saliu Ibrahim Baboko
Saliu Lasisi Ajisafe
Salomi Diamond
Salu Omotolani Abiola
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
8840
8841
8842
8843
8844
8845
8846
8847
8848
8849
8850
8851
8852
8853
8854
8855
8856
8857
8858
8859
8860
8861
8862
8863
8864
8865
8866
8867
8868
8869
8870
8871
8872
8873
8874
8875
8876
8877
8878
8879
8880
8881
8882
8883
8884
8885
8886
8887
8888
8889
8890
8891
8892
8893
8894
8895
8896
8897
8898
8899
8900
8901
8902
8903
8904
8905
8906
8907
98026
98047
220483
212712
98072
209043
98098
98129
98132
98135
219715
98177
98186
98188
208824
98202
98219
213891
98236
98240
98268
215154
98474
98475
226224
117726
98300
210927
98308
98322
98341
98355
98359
221555
213695
98374
98507
98395
98512
98409
98414
209690
98436
232328
209965
98447
219701
217812
205781
98472
98528
98539
98554
98562
228782
220898
98588
214966
98603
98606
98631
98641
98650
98678
226021
98716
98717
98719
101476
37906
47396
47397
36691
47401
47402
85168
85169
42635
91033
85181
89661
85183
42639
20431
85195
85202
85201
24680
85211
36721
48946
36722
47419
47462
42644
47466
42646
36708
47430
42654
85220
105087
48949
36712
47485
36715
47487
42662
36717
47490
42666
42667
36732
24682
24683
47493
47495
42672
42687
24156
85231
48951
85238
85272
85243
36739
85245
85246
564
85259
85261
14590
42701
36741
122
85300
8908
8909
8910
8911
8912
8913
8914
8915
8916
8917
8918
8919
8920
8921
8922
8923
8924
8925
8926
8927
8928
8929
8930
8931
8932
8933
8934
8935
8936
8937
8938
8939
8940
8941
8942
8943
8944
8945
8946
8947
8948
8949
8950
8951
8952
8953
8954
8955
8956
8957
8958
8959
8960
8961
8962
8963
8964
8965
8966
8967
8968
8969
8970
8971
8972
8973
8974
8975
98723
98754
98767
98779
98804
98808
98810
98817
98822
207755
98870
226999
98905
98915
98937
206771
206722
217835
98952
211612
98964
98988
99002
210872
99041
121039
231622
212577
99066
99077
99116
99118
99127
99140
207437
99144
207992
99183
99186
99193
99194
99223
99226
208521
230301
99231
217480
99234
99251
99252
209632
99255
99258
222899
210291
99420
99300
99304
117133
99320
99321
99328
99348
99430
212755
99393
99394
110414
36742
93483
85317
36748
85345
36749
85348
93488
85354
36750
85363
14593
101504
48958
50158
99271
99274
85411
85413
85414
27574
85432
89668
85447
47509
85457
23040
85469
85463
85473
36762
85491
91042
47513
85500
85501
24158
9377
36766
36767
43860
36772
24686
101515
85537
89673
36773
29966
47524
85539
47529
47531
47534
85545
36774
23710
47542
47543
47566
47545
47546
85548
23043
23716
42754
38921
42747
101527
Samaila Musa Sani
Sambau Yusufu
Sambo Ali Abdu
Sambo D. Mohammed
Sambo Mohammed Bashir
Samira Bala Usman
Sammani Abubakar
Samson Okechukwu
Samson Steve Sunday
Samu Nadabd Maryam
Samuel Asika Michael
Samuel Kolawole Micheal
Samuel Okeke
Samuel Olanrewaju & Mosunmol A
Samuel Shedrach Kaibi
Samuel Udo Udo
Sanchi Augustina Basham Taga Ng
Sanda Anthony Bankole
Sanda Thombe Musa
Sandabe Mala Bukar
Sangosanya Tolulope Olajumoke
Sani Ibrahim Doguwa
Sani A Mansur
Sani Abakura Amina
Sani Abdulrahman Garba
Sani Adamu Zuga
Sani Aisha Umar Sokoto
Sani Alice Aishatu
Sani Amina Mohammad
Sani Binta Junaidu
Sani Habashiya
Sani Hauwau Umar Sokoto
Sani Ibrahim Abdulmumini
Sani Ishaku Audu
Sani Kabir Dangogo
Sani Kabiru Kangiwa
Sani Mariam
Sani Mohammed Mujtaba
Sani Muhammad Kabir
Sani Muhmmad Sageer
Sani Musa Aliyu
Sani Nayaya Chedi Nayaya
Sani Saudat Umar Sokoto
Sani Suleiman Muhammad
Sani Tanko Muazu
Sani Tijjani
Sani Usman Dankoli
Sani Yahaya Amir
Sani Yusuf Aliyu
Sani Zayyad Umar Sokoto
Sani-mohammed Hajiya Aishetu
Sankey Emmanuel Musa
Sanni Aishetu Hamman
Sanni Azeezat Temitope
Sanni Grace Ade
Sanni Idiat Ajoke
Sanni Jamiu Adebayo
Sanni Mohammed Saeed
Sanni Moruf Olanrewaju
Sanni Muinat Omobolanle
Sanni Rekiya Onayi
Sanni Simiat Omowunmi
Sanni Titilayo Kadijat
Sanu Folake
Sanusi Hauwa
Sanusi Jaafar Usman
Sanusi Jimoh Awumenu
Sanusi Kamal Adewale
About Us
Sanusi Kola
Sanusi Quadri Oladimeji
Sanusi Toluwani Oladayo
Sanwo Modupe Temitope
Sanyaolu Gafar Olaitan
Sanyaolu Jonathan Ayo
Sanyaolu Mobolaji Olukemi
Sanyaolu Olusegun
Sanyaolu Risiquat Idowu
Sarauta Mathias Moses
Sarumi Babatumde Mondiu
Sasha Nominees Limited
Sati Benjamin
Saulawa Ibrahim Aliu
Sayi Mohammed Muritala
Sds Sw/ekunseitan Jide Michael
Sds Sw/ojo Jumlat Bolanle
Sds/udosen Moses Bassey
Seatrade Nigeria Limited
Sebastian Ogbonna
Sedu Bisiriyu Olusegun
Segun-fatuberu Ore Olusola
Seidu Usman Hassana
Semiu Ganiyu Akiode
Semshak Peter Ishaya
Senewo Olatunde
Senokia Investment Ltd
Seriki Bilkees Oluwatoyin
Seriki Lateefah Olalonpe
Services Royale Limited
Shaapera James
Shaba Abdullahi Danjuma
Shaba Olurotimi
Shabrach Joseph
Shadare Oluwaseye John
Shade Nuratu Adebola
Shadoh Isi
Shaibu Audu (sgt)
Shaibu Eleojo Adama
Shaibu Nicholas Nuhu
Shaibu Ohunene Felicia
Shalangwa Yusuf Ibrahim
Shall Jehu Waziri
Shallangwa Moses Pindar
Shamaki Fatimah Usman
Shammah Danlam1 Isah Danlami
Shamsudeen Fatima
Shanding Entema
Sharif Tijjani Muhammad
Sharif Yako Gambo Maazu
Shariff Abdulqadir Abdulqadir
Sharu Jamil Tillo
Sharu Nazir Fillo
Shebioba Moyosoreoluwa Oluwadamis
Shedul Lamkur Gabriel Lakai
Shehu Mohammed Ghani
Shehu Abdullahi
Shehu Abdullahi S.g
Shehu Adamu D.
Shehu Aliyu Yahuza
Shehu Aminu
Shehu Badamasi Shakiru
Shehu Hafsat Hussaini
Shehu Kabiru Tahir
Shehu Muhammed
Shehu Rabiu Shehu Salihu Ri Ngim
Shehu Sabo Maria
Shehu Sedua Haruna
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
8976
8977
8978
8979
8980
8981
8982
8983
8984
8985
8986
8987
8988
8989
8990
8991
8992
8993
8994
8995
8996
8997
8998
8999
9000
9001
9002
9003
9004
9005
9006
9007
9008
9009
9010
9011
9012
9013
9014
9015
9016
9017
9018
9019
9020
9021
9022
9023
9024
9025
9026
9027
9028
9029
9030
9031
9032
9033
9034
9035
9036
9037
9038
9039
9040
9041
9042
9043
212153
121728
99446
114069
229963
231461
99526
99523
124587
124626
99584
99603
211127
99620
99621
99676
208280
99775
114301
121749
213870
230093
99825
229668
99839
220206
228101
215359
224759
99893
99949
228371
100012
207119
229484
120125
100068
100020
100036
100038
100041
100065
113572
100081
100089
119147
100103
100122
100152
100153
100162
100170
230866
208331
222773
100205
100208
100239
122497
214663
206686
100266
100275
205635
100293
100294
209186
100301
42756
36785
47581
85575
36787
36791
24694
24693
24695
36801
85612
91046
94913
104218
99296
29967
99307
2945
85705
85706
85709
85715
85725
36808
36809
85738
85750
85760
85762
85774
85806
99323
85839
105191
47588
43865
90055
14612
23719
23720
47600
36822
85844
85843
85850
38733
47609
85856
85866
85867
85869
85871
85873
19269
42807
24701
89685
85883
85884
85891
85895
85893
36835
85909
85905
104233
85911
85907
9044
9045
9046
9047
9048
9049
9050
9051
9052
9053
9054
9055
9056
9057
9058
9059
9060
9061
9062
9063
9064
9065
9066
9067
9068
9069
9070
9071
9072
9073
9074
9075
9076
9077
9078
9079
9080
9081
9082
9083
9084
9085
9086
9087
9088
9089
9090
9091
9092
9093
9094
9095
9096
9097
9098
9099
9100
9101
9102
9103
9104
9105
9106
9107
9108
9109
9110
9111
100308
100316
100323
100324
100328
100330
100332
118580
100346
213551
100356
100359
227346
100376
216464
100383
100384
100390
100399
100401
114726
207226
211692
100441
223855
100453
100459
205794
227475
215408
100512
100513
100530
121100
100585
100593
205723
210525
215482
100630
100677
100682
100683
100696
100699
100700
206126
220754
100755
112653
100779
100812
100826
211081
112811
100911
100912
100913
100968
100973
100977
100978
100981
101001
101007
101008
101017
101018
85916
85923
99330
85929
85932
85933
85934
85944
93535
85949
93537
85952
85962
85963
85966
37920
85969
85970
85975
85976
85984
86005
93549
86002
50171
86008
86011
86014
86018
93555
86030
99344
86037
36839
93565
93567
93569
29968
99353
36841
99357
86117
86118
25448
12491
36842
36845
50174
86146
104246
86158
86185
86187
93594
23052
86225
86226
86227
93603
86261
86267
86268
86273
86283
86286
86287
86295
86296
Shehu Silifatu Olajumoke
Shehu Tabako Ibrahim
Shehu-usman Suleiman
Shellcoop/ikelia Emma
Shenbote Kafilato Oloruntoyin
Shetima Mohammed Bashir Alh
Shettima Kashim Rukayya
Shettima Mohammed
Shettimia Alh. Zannah
Shittu Abdkhaliq Adebisi
Shittu Adebowale Mufutau
Shittu Binta Mojoyinola
Shittu Dauda Adebayo
Shittu Ibrahim Shittuladan
Shittu Idayat Iyabo
Shittu Samson Akinade
Shobambi Folashade .o
Shodimu Nurudeen Oyetunde N .o.
Shodipo Olubayo
Shodipo Theophilus Babatunde
Shodiyan Diekola
Shoetan Akintoye Olujide
Shogaolu Damilola Christopher
Shogunle Dolapo Christiana
Shokoya Adeniyi Oduntan Emman Uel
Shokunbi Tunde Nurudeen
Sholola Tolulope Ibukun
Shomade Mubarak Folu
Shomefun Oluwaseye Ezra
Shonibare Abiodun
Shote Boluwatito Daniel
Shotunde Thomas Olajide
Shuaibu Ahmadu Yahaya
Shuaibu Alh Musa Gusau
Shuaibu Aminu
Shuaibu Dan-asabe
Shuaibu Dauda Eggon
Shuaibu Faridah
Shuaibu Korau Danlaji
Shuaibu Laraba Ahmed
Shuaibu Maimuna Usman
Shuaibu Yunusa
Shyllon Ademisiku Ibunkun-oluwa
Shyllon Elizabeth Olufunke
Sibe Esther Brakumo
Sibie Pius Ukele
Sidi Abubakar Muhammad
Sido Edward
Silas Adeola Priscilla
Silas Bitrus
Silas Regina
Silva Olabisi Obafunke
Silver Bells Limited
Simeon Divineboom
Simon Amos
Simon Matthew
Simon Okechukwu Anthony
Sinyene Hannah
Sipe Olatunbosun
Siwoniku Titus Amunundun
Siyanbola Adedoyin Olubunmi
Siyanbola Olayinka David
Skillpath Consulting Service
Smith Esther Esosa
Smith Ibrahim Kolawole Adew Ale
Smith Ikendah David
Smith Iyabo Adebola
Smith Solomon Anietie
ANNUAL REPORT
2014
Soaga Isiaka Olawale
Sobaki Aderonke Iyabode
Sobamiwa Olayemi
Sobamowo Ajoke Olufemi
Sobamowo Oreoluwa Ayodele
Sobamowo Yewande Morenike
Sobande Caroline Adesola
Sobande Eniola Adeniyi
Sobanke Shakirat Bolatito
Sobayo Adeola Fatimat
Sobitan Moradeke Olubunmi
Sobodu Ajibola Olayiwola
Sobowale Mobolaji Sowole
Sobowale Olabode Oladipo
Sobowale Oluwakemi Adeola
Soboyejo Abiodun Folorunso
Soboyejo Titilope
Sodade Akinyinka Olusoga
Sode Olubola & Ayobami
Sodeinde Ademola Okunola
Sodeke Olasumbo Elizabeth
Sodiya Alao Surajudeen
Sodiya Ebenezer Isola
Sodiya Mobolanle Oyetoun
Sodunke Jimoh Maaruf
Soetan Bayo Olusegun
Soetan Olufemi
Soetan Sunday Olusola
Sofola Olubunmi Olakunle
Sofoluke Stella Olajumoke
Sofoluwe Oyenola Taiwo
Sofowora Florence Fadeke
Sogbanmu Yakeen Babatunde
Soji-taiwo Olubukola Esohe
Sokoya Abimbola Adebola
Sokunbi Aderemi Saibat
Sokunbi Solomon Oluseyi
Sola Ajayi Simisola.t
Solademi Ayorinde Lanre
Solaja Mohammed Jamiu Olayem I
Soleye Olufunmilola Oladipup O
Solid Eagles Entreprises
Solid Foundation Estate Ltd
Solomon Anita Henry
Solomon Ezekiel Fei
Solomon Gidema
Solomon Iyabo Abibat
Solomon Victoria
Somemimo Efundunke Oluwakemi
Somina Reginald Dein
Somuyiwa Augustine Adeoluwa
Sonde Adeoye Olamide
Songonuga Adetutu Omoniyi
Soremekun Florence F
Soronnadi Malachy O.
Sosan Ola Tayo
Sosan Olatoye
Sosan Sotayo
Sowemimo Kamoru Owolabi
Sowemimo Sadiat Oluwatoyin
Sowole Modupeola
Sowole Olaoluwa
Sowoolu Yeside Ebunoluwa
Soyege Adewunmi Olufisayo
Soyemi Adeola
Soyemi Adeola Damilola
Soyemi Oluwadamilola
Soyemi Oluwatosin
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
9112
9113
9114
9115
9116
9117
9118
9119
9120
9121
9122
9123
9124
9125
9126
9127
9128
9129
9130
9131
9132
9133
9134
9135
9136
9137
9138
9139
9140
9141
9142
9143
9144
9145
9146
9147
9148
9149
9150
9151
9152
9153
9154
9155
9156
9157
9158
9159
9160
9161
9162
9163
9164
9165
9166
9167
9168
9169
9170
9171
9172
9173
9174
9175
9176
9177
9178
9179
101019
101021
208791
228618
213430
101103
122367
101117
116251
101129
101130
101141
101134
101137
218297
101150
110652
101168
101199
101201
206230
101231
122055
101244
101283
223684
101258
101274
101289
101300
101432
101318
101320
209600
101330
101340
101365
101381
101384
101385
101389
101392
214222
101412
101418
101438
101439
101440
101442
101445
220638
101456
101464
222772
209888
220330
101509
101562
101572
101602
101587
101606
101625
101632
101636
213850
229545
101675
86297
86298
86308
86313
86321
86344
36856
104253
27603
23054
104256
27604
86353
104258
43870
86360
27605
47620
19892
27606
86395
93619
99387
48973
101560
86399
99384
14636
86400
86404
86437
5972
36866
43877
86419
29970
36870
86423
36872
104962
104263
86425
86438
24703
47655
42845
86442
36875
12500
86445
42864
36877
86447
24705
36888
19897
43879
23060
47673
42873
47676
86466
91055
86471
50182
25452
86477
86483
9180
9181
9182
9183
9184
9185
9186
9187
9188
9189
9190
9191
9192
9193
9194
9195
9196
9197
9198
9199
9200
9201
9202
9203
9204
9205
9206
9207
9208
9209
9210
9211
9212
9213
9214
9215
9216
9217
9218
9219
9220
9221
9222
9223
9224
9225
9226
9227
9228
9229
9230
9231
9232
9233
9234
9235
9236
9237
9238
9239
9240
9241
9242
9243
9244
9245
9246
9247
101682
101696
101737
101751
101752
101758
221068
101813
209940
213737
101839
215480
101853
101858
101862
221052
101886
101894
101895
117742
209881
209539
101918
102078
216499
214066
101935
101972
114841
101975
101983
101989
211939
101997
102028
227216
102037
102065
102070
102090
231436
102120
102137
112002
102166
212986
102181
210763
102219
102221
102233
218702
102249
102296
102329
102373
205589
102433
220103
102458
206098
102479
102493
119142
102509
226484
119766
225293
104270
86486
86495
86502
86503
47699
47700
101577
36916
31290
86530
31291
93631
23065
10307
37932
47710
47714
47715
42904
47726
104274
47728
99415
86620
86622
86551
99407
86626
86567
86572
99409
36934
86580
86599
86600
86605
36933
86614
86642
50193
86653
86661
101586
36943
36946
104277
101591
27610
47730
42911
42920
27611
10253
42923
86721
36958
19905
86740
86747
86753
104288
24167
36966
86770
86772
104292
93654
Soyemi Oluwatosin Ewumi
Soyemi Oreoluwa
Soyombo Abiodun Funmilayo
Spida Global Ventures Ltd
Srichand Rajni Shroff
Stanley-obi Ngozi
Stella Ada Nwubani
Stephen Blessing Robert
Stephen Jemerigbe
Stephen Ndife Nwakwo
Stephen Nsibiet Robert
Stephen Otarigho Awharevugheghen
Stephen Sunday Ojo
Stephen Victor Robert
Stephen Yabayanza Moses
Steve Kolawole Deborah Love
Streams Of Wealth Investment
Strivers Youth Association Bichi K.g.a Kano S.
Sudan Joseph
Sudeh Emuobo Julius
Sulaiman Alero
Sulaiman Basirat Oluyemisi
Sulaiman Gboyega Nurudeen
Sulaiman Idris Monko
Sulaiman Memorial Of Nigeria
Sulaiman Modinat Olufunke
Sulaiman Mufutau Abiodun
Sulaiman Taofeeq Olabiyi
Sulaimon Abdul-azeez
Sulaimon Lateef Olalekan
Sule Abubakar Murja
Sule Ahmed Tijani
Sule Alidu (alhaji Black)
Sule Augustine Oladunni
Sule Basirat Ruth
Sule Fatima Omotola
Sule Lydia Daniel
Sule Morufu Akande
Sule Naomi Unekwu Orinah
Sule Nasidi
Sule Obeito Abdulazeez
Sule Olanrewaju Hammed
Sule Olawale & Abiodun
Sule Shaka
Sule Sumaila
Suleh Abubakar
Suleimah Haruna
Suleimah Oziyarahu Florence
Suleiman A.abdullahi
Suleiman Abdullahi
Suleiman Abdullahi Alhaji
Suleiman Abubakar
Suleiman Adedayo
Suleiman Hajja Asmau
Suleiman Halimat
Suleiman Hawwau
Suleiman Ibrahim
Suleiman Saadatu Lawal
Suleiman Sunusi Saleh
Suleiman Usman
Suleiman Zubaidah Hassan
Suleimon Dauda Olorunsogo
Suleyman Bashir Adebayo
Suliman Hassan
Sulu Saadu Oloje
Sumaila Mathew
Summit Finance Special Account
Sunday David Victor Toluwala Se
About Us
Sunday Goodluck
Sunday Onuh Ambrose
Sunmola Idowu Kamar
Sunmonu Semiu Oladele
Sunmonu Sherifat Abeni
Sunusi Abba Sani
Sunusi Aminu Muhammad
Sylvanus Chetan
Sylvester Rhoda
Tabansi Ndubuisi Emmanuel
Tabiowo Patrick Kesiena
Tabugbo Silas Chukwudi
Tadese Adenike Florence
Tafarki Halima Abubakar
Tafida Gogo Aminu
Tafida Hassan Gadam
Tahir Abdullam Ahmed
Tahir Fathullah Ahmed
Tahir Hamidullah Ahmed
Tahir Muhammad Jalam
Tahir Zufatu Suleman
Taiger Diepere Richard
Taimako Investment Club
Taiwo Akintunde
Taiwo Abimbola Toyin
Taiwo Abiola Martins
Taiwo Adeola Adekemi
Taiwo Gaffar Ajibola
Taiwo Ganiyat
Taiwo Gilbert Olatunde
Taiwo Isiaka Olalekan
Taiwo Jumoke Sakirat
Taiwo Luqman Adedeji Engr
Taiwo Modupe Olushola
Taiwo Olusegun Adelami
Taiwo Olusola Adelugba
Taiwo Oluwatobi
Taiwo Tolu
Taiwo Toluwani
Taiwo-junaid Olanrewaju
Tajudeen Olayinka
Talabi Abiodun
Talabi Olatanwa
Tali Laraba Gladys
Tam Nominee Y001
Tamar Chindo
Tamunodukobipi Sampson Tamunokonbia
Tang'an Kefas Amos
Tanko Abdurrahman Ishiyaku Jada
Tanko Adamu Idris
Tanko Gbowl Patience
Tanko Morondia
Tanko Mutari Jada
Tari Bulus
Tasiu Bebeji Usman
Tayo Mojisola
Telli Kande Ephraim
Telu Benitareni
Teluwo Joy
Temitope Olumuyiwa
Temowo Olufunmilayo Jeremiah
Tep Augustus Nubarido
Terungwa Zever
Terver Gemade
Tewe Olujimi Olugbenga
Thaddeus Abiola Felicia
The Girl's Brigade, Rivers State
The King's Crystal Limited
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
9248
9249
9250
9251
9252
9253
9254
9255
9256
9257
9258
9259
9260
9261
9262
9263
9264
9265
9266
9267
9268
9269
9270
9271
9272
9273
9274
9275
9276
9277
9278
9279
9280
9281
9282
9283
9284
9285
9286
9287
9288
9289
9290
9291
9292
9293
9294
9295
9296
9297
9298
9299
9300
9301
9302
9303
9304
9305
9306
9307
9308
9309
9310
9311
9312
9313
9314
9315
102565
102586
102599
208677
226043
119559
102672
207317
102702
212254
211853
102763
102772
102774
102779
124211
102805
102806
102811
102847
102825
118354
102886
221474
102927
123171
215004
103029
103062
205562
215017
103094
115438
103088
103090
114049
103128
103138
103167
103177
103182
226532
103216
114210
103249
103330
103338
209096
103364
103396
103412
103417
103427
103444
103459
103478
230610
103504
103525
213806
103538
103542
103547
103566
103569
103574
220163
103589
36973
104294
12510
27616
31293
86832
86834
36987
86851
86901
24716
86883
86890
13325
99451
86907
47764
24717
47765
47779
47770
86921
38736
104302
93665
86951
101615
99466
99473
86991
20443
37001
87005
87004
25456
87006
89715
87026
24173
87045
24175
37011
87056
87066
87078
42961
87096
47797
87101
19919
37027
87104
87113
87126
101632
37030
87138
27634
37032
23087
47814
37940
87152
47824
47826
47828
23091
31296
9316
9317
9318
9319
9320
9321
9322
9323
9324
9325
9326
9327
9328
9329
9330
9331
9332
9333
9334
9335
9336
9337
9338
9339
9340
9341
9342
9343
9344
9345
9346
9347
9348
9349
9350
9351
9352
9353
9354
9355
9356
9357
9358
9359
9360
9361
9362
9363
9364
9365
9366
9367
9368
9369
9370
9371
9372
9373
9374
9375
9376
9377
9378
9379
9380
9381
9382
9383
103613
103635
103672
103694
103718
103726
211455
103781
103755
103760
103762
220914
103773
103776
103796
103797
103814
103815
103821
206386
103870
209795
103898
103906
213978
214537
213977
213979
213880
103930
103933
103937
103939
103943
117003
103947
103948
103949
103970
103978
211315
121097
103989
103991
224994
104013
210488
104029
224500
219990
104057
213447
104086
104096
213097
104176
218052
104246
104253
104278
104281
104286
231662
104289
104290
104301
104312
119595
31297
50210
87177
87181
23099
20449
19292
19294
87200
23101
29517
87212
19291
37037
104817
87219
37038
19297
29520
31303
101641
31304
87250
42986
87254
87255
87256
87257
87258
20452
87261
14656
14658
87265
87267
42987
27639
91066
87272
87273
31311
31315
101644
23134
23136
23141
87299
23142
27642
87303
37045
87315
87326
87329
20465
37048
24911
20479
25472
87392
27652
27651
87395
42989
87396
37054
87405
27930
There & Then Enterprises
Thomas Aniefiok Okon
Thomas Gloria
Thompson-fregene Alex
Thomson Ndubuisi Obarezi
Thoyon Maupego Agnes
Tiamiyu Anjolaoluwa Mistura
Tifi Bello Aliyu
Tijani Abdulazeez Babatunde
Tijani Adebola Ayodele
Tijani Aishatu Kyari
Tijani Oladipupo Akeen
Tijani Oluwakemi Hazeezat
Tijani Raheem Olatunde
Tijani Samsudeen Oladipupo
Tijani Sikirat Modupe
Tijjani Aisha Nakande
Tijjani Baba Shehu
Tijjani Furcra Nakande
Tijjani Ibrahim Adamu
Tijjani Muhammad Nakande
Timisowei Binaebi
Timothy Olawale Smith
Titcombe Doris Nkechinyere
Titilayo Kayode
Titus Gloria Nseobong
Titus Njama
Togunloju Scholastica Nkiruka
Tolashe Jelili
Tolofari Hannah
Tom Emmanuel Okon
Tom George Ibiso Dawaye
Tom Nseobong Uwem
Tom Ofonime Sunday
Tom Samuel Udo
Toma Otaru Solomon
Tonah Mary Yunana
Tongha Benedict Oyin-ebi
Tor-agbidye Geraldine Adoo
Toriowei A Preela
Torkura Joyce Doom
Tower Asset Management Limited
Towolawi Folake
Toyfem Nig Ltd
Travih Esther Towe
Tuatongha Jefferson Oroupade
Tudonu Seide Tobi
Tukur Aminu
Tukur Faridah Ibrahim
Tukura Emoiti Bako
Tumsah Kashim Musa
Tunde Bayewu
Tunde-adeyemo Adejoju Oreoluwa
Tunwase Omowunmi
Turaki Safiya Musa
Twenty In One Enterprise
Twinvest Ventures
Uadia Boma Olohije
Uba Chukwuji Friday
Uba Emmanuel Chizoba
Uba Ibrahim Al-hassan
Uba Isa
Uba Martha Uchenna
Uba Shehu Adamu
Uba Tahir
Uba Yakubu
Ubabuko Ngozi Uchenna V.
Ubaezuoke Ikechukwu Martin
ANNUAL REPORT
2014
Ubaka Chukwuemeka Michael
Ubani Charles Ogbonna
Ubbaonu Chimezie Durunwa
Ubiudu Helen
Ubosi Andrew Chinedu
Ubulom Adasi Esau
Uche Art Gallery Concept
Uche Ikeh Calm Ugochukwu
Uche Joseph Chinedu
Uche Nelson Chimezie
Uche Ogechukwu Kalu
Uche Queen Chinasa
Uche Sunday Okoro
Uche Tobias Nnamdi
Uchechukwu Patrick
Uchechukwu Rose
Uchegbulem Chinyere Emenike
Ucheka Moses Okafor
Uchendu Chukwuemeka Samuel
Ude Anthony C And Joan France S
Ude Chinedu Raymond
Udeagbala Johnson Onyeka
Udeagwu Amaka Cecilia
Udeaku Amaechi
Udeani Chioma Mary
Udeani Chukwuebuka Louis
Udeani Ikechukwu Nathaniel
Udeani Izuchukwu
Udeani Priscilla Nnenna
Udedeh Oto-obong Amadu
Udegbe Chike Anthony
Udegbulem Ivj Ukanaka
Udegbulem Nancy Uchechukwu
Udegbunam Felix Eloka
Udegbunem Ekenedilichukwu Franca
Udeh Abdul Alexander
Udeh Anthony Nwabueze
Udeh Augustine Ikechkwu
Udeh Nwagu Nwinyinya
Udeh Stella Oluchi
Udeh Sylvester Micheal C.
Udeigwe Davidson Nebife
Udeji Jude Chukwuemeka
Udeke Edwin Chukwuma
Udekwe Chukwukadibia Emmanuel
Udemezue Anthony Chukwuemeka
Udengwu Ngozi Eucharia
Udenni Theophilus Okoye
Udensi Okwara Arua
Udenta Rita Chinedu Nnenne
Udeogu Chukwuka
Udeta Eric Ifeanyichukwu
Udezeh Ifechukwu Kunle
Udezuka Izunna Boniface
Udo Eno Lawrence
Udobi Emeka Henry
Udofia Itoro George
Udoh Emem Benson
Udoh Eno Daniel
Udoh Innocent Matthew
Udoh Joseph Okon
Udoh Joseph Okon
Udoh Justina Frank
Udoh Love C.
Udoh Margaret
Udoh Nsikan Innocent
Udoh Usen Ekong
Udoka Mac Anthony Obinna
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
9384
9385
9386
9387
9388
9389
9390
9391
9392
9393
9394
9395
9396
9397
9398
9399
9400
9401
9402
9403
9404
9405
9406
9407
9408
9409
9410
9411
9412
9413
9414
9415
9416
9417
9418
9419
9420
9421
9422
9423
9424
9425
9426
9427
9428
9429
9430
9431
9432
9433
9434
9435
9436
9437
9438
9439
9440
9441
9442
9443
9444
9445
9446
9447
9448
9449
9450
9451
104336
104349
104351
104360
104362
104363
104367
104372
214337
205826
104395
205464
214147
104415
104429
228888
104437
104522
104550
209651
104567
104569
104577
104594
104595
104599
104613
104621
104627
104675
104682
104683
104686
217851
227478
104694
104695
104698
104707
104708
104710
104733
104735
113170
219624
104743
214963
104753
104761
104768
104771
104776
104780
224067
104791
104792
225236
208745
104812
104819
104826
104832
212583
104843
104845
104875
104892
104896
104342
37058
37059
87424
37061
20500
37063
87428
23162
87431
104350
87436
87439
87443
24183
87454
87458
87473
87482
37071
27659
31325
19318
87504
24186
27663
27666
27668
87516
27673
87528
87529
87531
87532
27674
99496
27675
87539
29537
29538
104356
38753
38754
87559
23174
38755
38758
19922
87556
87562
37085
87566
87569
23178
87576
87577
23179
87586
37086
101650
101651
87594
31331
31332
87603
31340
23185
27933
9452
9453
9454
9455
9456
9457
9458
9459
9460
9461
9462
9463
9464
9465
9466
9467
9468
9469
9470
9471
9472
9473
9474
9475
9476
9477
9478
9479
9480
9481
9482
9483
9484
9485
9486
9487
9488
9489
9490
9491
9492
9493
9494
9495
9496
9497
9498
9499
9500
9501
9502
9503
9504
9505
9506
9507
9508
9509
9510
9511
9512
9513
9514
9515
9516
9517
9518
9519
104912
104925
218417
104928
212022
217782
104938
104951
229899
104982
220869
104986
104993
207190
105019
105022
212961
122275
105083
105085
105094
105095
105097
212781
105139
105151
210285
105178
105188
228482
117612
122234
111455
105232
105238
105239
229744
105292
105295
206601
105329
105330
105338
105339
105348
105349
219459
105373
105374
214897
119692
105390
105399
105400
105408
105409
121792
105421
229818
105446
105451
113060
105486
105496
105501
105533
105534
105555
87618
23189
23191
27934
27678
93679
31351
31361
104365
87636
87638
87640
104370
47844
37103
87648
37104
31371
87673
87674
87678
87679
87680
87684
87696
87701
37112
37113
87715
87718
87724
87729
87730
87733
87736
87737
104377
87753
87754
87761
87771
87772
87776
87777
104383
87781
87788
37117
37118
87799
25488
99501
29557
27682
27684
27685
43003
27688
105380
31385
37123
87814
14672
47851
37126
87832
87833
20537
Udokang Etim
Udom Dean Uwemedimo Jnr
Udom Emmanuella Uwemedimo Udom
Udom Ogedi Udom
Udom Samuel Uwemedimo
Udom Udom Francis
Udom Victoria Imoh Uwemedi Mo
Udomah Peter John
Udombana Otuekong Manley Sunday
Udoogu Lawrence Achufusi
Udosen Joseph Essien
Udosen Nsisong Rosemary
Udotong Catherine Ekaette
Udoye Innocent Chukwudi
Udu Anthony Teryima
Udu Solomon
Udubra Shadrack Oghale
Ufeli Jonathan Onyeweli
Ufot Mercy Samson
Ugar Janet Nkarrighor
Ugb0ko Consolata
Ugbabe Benedethe Nkechinyere
Ugbaja Ugo Raphael
Ugbeda U. Joseph
Ugbede Benjamin Ternenge
Ugbejevun Shehore Gloria
Ugbeye Jeyere Dawas
Ugbo Solomon Ovigueroye
Ugboajah Baudlyne
Ugen Frank Oghenekevwe
Ugezeme Nkechi
Ugezene Isioma
Ugha Augustine Emeka
Ughamadu Rosemary Omebu
Ughanze Chiedozie Edwin
Ugheighele Leonard
Ughelli N01 Farmers Mpcs Ltd
Ughutevbe Esiri Angelia
Ugiagbe Osayande
Ugiagbe Owen Monday
Ugiagbe-osifo Osayomore Augustina
Ugochukwu Chibuzo
Ugochukwu Chilezie
Ugochukwu Christiana Ify
Ugochukwu Dennis Ozulu
Ugochukwu Ihuoma Chinonyerem
Ugochukwu Nneka Maureen
Ugochukwu Obumnek E.
Ugochukwu Polycarp Nwabueze
Ugoh Ada Francisca
Ugoh Faith Obianuju
Ugo-ihejirika Tochukwu Eva
Ugoji Nkemdilim Rita
Ugoji Nonye (mrs)
Ugono Rosaline Egbeegbe
Ugono Stephen Olatunde
Ugorji Emmanuel Odiri
Uguezumba Chrysanthus Chijioke
Uguh Emeka Kerian
Uguru Bridget Okwuchukwu
Uguru Ndubuisi Handy
Ugwa Onyenaghuibe Sunday
Ugwah Samuel
Ugwoke Chekwube
Ugwoke Chizoba Mercy
Ugwu Christopher Emeka
Ugwu Ernest Mmaduabuchi
Ugwu Fexdinand Ifeanyi
About Us
Ugwu Julius Ifeanyi
Ugwu Nicholas Uchenna
Ugwu Obinna
Ugwu Ogochukwu Joy
Ugwu Paul Ede
Ugwu Sunday Chukwuma
Ugwu Veronica Nkechi
Ugwuanyi Darlington Ike
Ugwuanyi Sylvester
Ugwueze Moses Kanayo
Ugwuezumba Amarachi Christiana
Ugwuja Evelyn Ifeoma
Ugwumabu Udoezi Uchenna
Ugwumba Theodore Ifeanyichukwu
Ugwushie Christian
Uhegbu Agoha
Uhegbu Magdalene Ijeoma
Ujam Chuka
Ujumadu Precious
Uka Afia Okoro Ruth
Uka John & Delphine
Uka Kingsley Ekene
Uka Nkechi Osebharemhente
Ukachi Ebere
Ukaegbu Happiness
Ukaegbu Stephen Ikechukwu
Ukam Immaculata Alex
Ukana Timothy Taiwo
Ukanwoke Chibuzor
Ukaonu Chibueze Udokanma
Ukawuba Martin Ikechukwu
Ukegbu Harriet Ojiugo
Ukegbu Nnennaya Nworoni
Ukeme Anthony Nicholas
Ukeni Anthony
Ukeni Echaina
Uko Udo Lydia
Ukoha Jude Maduabuchi
Ukoha Ndidi Victoria
Ukoma Denis Green Komass
Ukoumunne Chima Iroegbu
Ukowo Ima Elijah
Ukpabi Jonah
Ukpabi Kalu Davies
Ukpabia Ngozi Columba
Ukpabio Augustine Iniobong
Ukpaka Ngozi Angela
Ukpeh Louisa Otuekong
Ukpeh Paschal
Ukpong Deborah Sonny
Ukpong Eno Macaulay (prof.)
Ukpong Folasade Esther
Ukponmwan Osawaru Godwin
Ukponu Oritseweyinmi Andrew
Ukueku Ejenavwo Jane
Ukueku Margaret Ekwabofu
Ukut Effiong Asukwo
Ukutaire Mary Oghenekevwe
Ukwenya Stanley Xavier
Ukwueze Ngozika Juliana
Ukwuoma Cordelia
Ulasbrey And Company Limited
Ulocha Stella
Uloko Andrew Enemako
Uloko Onyeche Pamela
Umahi Glory Oyidiya
Umahi Grace Olanma
Umanah Monday Edet
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
9520
9521
9522
9523
9524
9525
9526
9527
9528
9529
9530
9531
9532
9533
9534
9535
9536
9537
9538
9539
9540
9541
9542
9543
9544
9545
9546
9547
9548
9549
9550
9551
9552
9553
9554
9555
9556
9557
9558
9559
9560
9561
9562
9563
9564
9565
9566
9567
9568
9569
9570
9571
9572
9573
9574
9575
9576
9577
9578
9579
9580
9581
9582
9583
9584
9585
9586
9587
116791
105585
217247
105599
105603
214382
105609
121880
105615
105621
207939
105649
105654
124624
231441
105676
105696
105700
105704
118681
105709
105710
105715
116550
105737
105754
105755
218923
105846
209601
211946
105799
218229
105804
105814
105910
227480
105861
105866
221058
105887
212634
105918
105939
105940
105944
105950
105972
105979
215823
105991
106011
227798
106027
106031
106032
106034
106047
106049
106050
106056
106066
112050
106089
106104
230651
106113
228316
47923
47857
87856
47862
87839
37158
50214
19932
37138
23213
43037
104972
47877
89725
43025
47886
38928
43026
87844
90075
43027
87845
87846
43041
87849
38929
47907
47948
24733
47950
37172
43034
43042
43035
87853
47956
24736
104401
87864
43047
87866
19937
39020
38771
38772
23220
31389
87881
87884
31397
14674
23231
87897
14679
43052
23236
23237
87904
87905
87906
87907
23243
87915
87917
87927
87930
19353
19355
9588
9589
9590
9591
9592
9593
9594
9595
9596
9597
9598
9599
9600
9601
9602
9603
9604
9605
9606
9607
9608
9609
9610
9611
9612
9613
9614
9615
9616
9617
9618
9619
9620
9621
9622
9623
9624
9625
9626
9627
9628
9629
9630
9631
9632
9633
9634
9635
9636
9637
9638
9639
9640
9641
9642
9643
9644
9645
9646
9647
9648
9649
9650
9651
9652
9653
9654
9655
106116
106137
116688
218830
106188
106231
106232
230650
106248
214580
106253
106257
106281
106285
230303
229137
232597
106327
106332
106340
106347
106349
106354
106367
106399
216902
218896
106423
106428
225272
117996
106464
106467
106474
106475
106481
106482
111593
218829
106509
106521
106532
120775
106549
106609
122669
217667
212956
211272
106629
124289
106631
106632
106637
116822
106651
106658
213875
106981
106681
106698
106712
106720
106726
106742
106751
215745
106767
104404
87937
43054
87943
37202
104407
104408
87968
20557
104411
20559
37208
87982
87984
25494
27703
87999
88004
27709
47965
88012
31403
27711
88021
19363
38776
88040
88046
19364
88051
104419
93690
88065
20567
104422
88072
88073
88080
88082
88083
6341
27718
27720
31405
37220
88113
88114
91078
29578
88118
88120
88121
88122
37223
37252
19939
37225
37956
48013
47974
37230
101683
37234
47981
43074
88139
90087
88140
Umar Mohammed
Umar Adam Kibiya
Umar Adamu Hauwa
Umar Aisha Auwal
Umar Aishamohammed
Umar Ali Ahmed
Umar Alice Olanumi
Umar Aliyu Modibbo
Umar Amina
Umar Aminu Kawu
Umar Bilkisu
Umar Danjuma Christopher
Umar Farouk Kibiya
Umar Faruq Bahago Safiya
Umar Hassan.
Umar Hussaina Kibiya
Umar Ismail M
Umar Juliana Bose
Umar Kamalumohammed
Umar Khalid Ahmed
Umar Lawal Mohammed
Umar Lukmanmohammed
Umar Maryam Mohammed
Umar Mohammad Lawal
Umar Muhammed Tanko
Umar Nassar Musa
Umar Nazifa
Umar Rimi Sa.idu
Umar Salisu Mohammed Bello
Umar Saratu
Umar Seku Gajo
Umar Umar Farouq Adeikehi
Umar Umma
Umar Usman
Umar Zayyad Mohammed
Umaru Ahmed Zainab
Umaru Alhassan Bub
Umaru Atu Austine
Umaru Bayo Adamu
Umaru Kasumu Maidoya
Umaru Maikudi
Umaru Saidu
Umca Birnin Kebbi
Umeakuesie Luke Ifeanyichukwu
Umeakuesie Virginia Azuka
Umeania Peter Nnamdi
Umeano Ngozi Anulika
Umeh Amaka Cordelia
Umeh Chinyere Adamma
Umeh Francisca Nkiru
Umeh Godwin Obumneme
Umeh Ndubuisi Albert
Umeh Paul Anthony
Umeh Stella I
Umeh Uche Gloria
Umeh Uche Marian
Umeh Uchechukwu Benson
Umeizudike Theophilus
Umeji Chibuzor Rita
Umeji Chrismadus
Umejiburu Malex Marcellus
Umelo Amaka Carolyne
Umeofia Joseph
Umeohia Obianuju Ngozi
Umeozulu Chinelo Benardine
Umesi Sylvester Onyebuchi
Umesiobi Chinwe Felicia
Umesiobi Dennis Iheme
ANNUAL REPORT
2014
Umetor Goodluck Sunday
Umezurike Chioma Christiana
Umma Bisiri Imam
Umoeren Iniobong
Umoh Emmanuel Assian
Umoren Alexander David
Umoren Andrew Daniel
Umoren Innocent Akpan
Umoren Nathan Idongesit
Umoren Pius Titus
Umoren Sunday Isong
Umoren Umoren
Umoru Lucky
Umoru Sailas Isah Jatto
Umoumo Umoh Edet
Umudi Frank
Umukoro Emmanuel Franklin
Umukoro Macauley
Umukoro Sunday
Umul Raltumi Abubakar Imam Dada
Umunna Ekene John
Umunna Henry Chuka
Umunna Patricia Lawrence Hil Lary
Umuobia Development Union Lagos Branch
Unamba Gloria Oluchi
Unanka Godwin Onuegbu
Undlikwo Felix Unmike
Unegbu Ogochukwu
Unegbu Valentine Oluchukwu
Unico Employees Cooperative Society
Universal Projects Nig Ltd
Unogu Happiness Nneoma
Unoka Emmanuel Ifeanyichukw U
Unomieta Asuquo Uwe
Unoneme Anayo Cyprian
Unuakhe Paul Omoh
Unuakhe Peter Odion
Unuigboje Ezinwa (mrs)
Unyiefo Victor Akinle
U-osy Nigeria Ent Ltd
Urasi Francis Chibuzo
Urhude Ernest
Uroye Augustine
Uruakpa Mercy Chinyere
Ushie Iyoo Cathrine
Usiaphre Patrick
Usideme Adams Eddy
Usifo Esther Efe
Usifo Onemiye Isabella
Usifoh Moses
Usih Joseph Ifeanyi
Usiholo Ayemere Tina
Usiholo Oluwaloni Gregory
Usikalu Rachel Oluropo
Usman Abba Fai'q And Faanihah
Usman Abdulahi
Usman Abdullahi
Usman Abdullahi Musa Usman
Usman Abubakar Abukur
Usman Adam
Usman Aishatu Shamsuddeen
Usman Aliyu Habane
Usman Aminu
Usman Auwal Ahmad
Usman Binta -rafiat
Usman Danlami
Usman Emmanuel (pastor)
Usman Habib
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
9656
9657
9658
9659
9660
9661
9662
9663
9664
9665
9666
9667
9668
9669
9670
9671
9672
9673
9674
9675
9676
9677
9678
9679
9680
9681
9682
9683
9684
9685
9686
9687
9688
9689
9690
9691
9692
9693
9694
9695
9696
9697
9698
9699
9700
9701
9702
9703
9704
9705
9706
9707
9708
9709
9710
9711
9712
9713
9714
9715
9716
9717
9718
9719
9720
9721
9722
9723
216132
115635
106785
213838
106804
106808
106816
106817
211860
106830
106837
106994
106852
232238
106874
106888
106897
106898
207967
106968
107020
227864
216513
217578
107051
107055
118632
107063
209151
220923
215221
208674
107135
213136
107204
227879
123127
123128
227515
107270
107290
206958
107297
230304
107303
107309
107313
214625
107342
107346
214002
107355
107359
107366
107400
107429
107440
121645
107459
107482
94898
107499
107504
231905
107519
107522
107533
107534
88163
43102
9009
37261
90082
37240
89739
23749
37264
90084
88146
49038
134
88147
48001
6354
90086
101690
19950
19947
29585
37269
88178
20572
14689
88186
88192
101695
105381
37273
88201
88204
88220
88240
88245
19376
88256
88257
88259
29597
88281
88282
88285
88286
37280
88291
88292
38794
88304
88306
37284
88310
38795
31418
88323
88332
23274
31426
38798
38806
11538
104448
38809
38810
19392
104450
88361
88362
9724
9725
9726
9727
9728
9729
9730
9731
9732
9733
9734
9735
9736
9737
9738
9739
9740
9741
9742
9743
9744
9745
9746
9747
9748
9749
9750
9751
9752
9753
9754
9755
9756
9757
9758
9759
9760
9761
9762
9763
9764
9765
9766
9767
9768
9769
9770
9771
9772
9773
9774
9775
9776
9777
9778
9779
9780
9781
9782
9783
9784
9785
9786
9787
9788
9789
9790
9791
107544
229100
107581
107590
212326
107620
107628
122921
116458
225738
107654
107656
223794
107676
211503
107682
107699
107702
107704
107730
107732
220496
219167
107748
218865
107754
117011
116716
107766
107767
231238
107768
107770
107773
107774
107776
107781
107782
213899
107794
209404
211338
107843
228069
107883
107891
107901
227374
107904
107934
107978
107988
107999
108004
108016
108022
108031
108036
108040
108042
108049
108060
230613
108089
222068
108168
124351
108209
88366
88369
23283
88379
88382
88391
88394
88396
88408
88416
88420
88421
88423
88431
88442
88436
31430
37297
37299
38936
48037
48050
48051
48043
48052
48053
88455
29602
88457
88458
104466
88459
37307
104467
88460
93698
93699
88464
43114
88469
24757
19956
37318
101719
88481
37322
3038
23756
24759
14702
88500
23758
37336
37339
27763
88514
48081
88519
14703
88520
88525
43128
88539
88543
101728
88577
37348
88599
Usman Hammed Oluwashola
Usman Haruna
Usman Hassana Zira
Usman Ibrahim Hauwa
Usman Ishaq Tijani
Usman Jaafaru Abdullahi
Usman Kasimu Kuta
Usman Kawuna Abubakar
Usman Maimuna
Usman Maimuna.tijjan
Usman Martins Olaosebikan
Usman Masabo Mariya
Usman Mohammed
Usman Mohammed Almustapha
Usman Muslim Fagge
Usman Rabiat Tijani
Usman Ruqayya Tijani
Usman S Ibrhim
Usman Saidu Kalifa
Usman Yusufu
Usoh Osarenren Roland
Usooiyol Samuel S
Usoro Abasi-ofon Eriyanga
Usoro Eno Okon
Uteh Oluwayomi
Uthman Adebukola Kudirat
Uthman Kehinde Adeoye Taofik
Uthman Muhammad Bello
Utsalo Bartholomew & Mara
Utsu Godwin
Utuk Monday John
Utuodor Owijho Benjamin
Uwaechie Michael Okechukwu
Uwakwe Cainis
Uwalaka Ekele Ukuwa
Uwandu Evans Ifeanyichukwu
Uwatt Josephine Akon
Uwatt Mfon Bassey
Uwawah Abeoritsegbemi A. Victor
Uwuoroya Charity
Uyanwune Nwamaka Chinyere
Uyeri Ewomazino
Uyo Bassey Okon
Uyoe Cornelia Imeh
Uzaigbe Augustina Obomele
Uzer Stephen Terfa
Uzinyia Jerome Adie
Uzochukwu Theresa Uchenna
Uzodike Ogonna Benson
Uzodinma Henry Chinedu
Uzoechi C.n. Nnenne
Uzoechi Eugenia Ndukaku
Uzoechi Ogochukwu Janet
Uzoechina Obinna Chinwuba
Uzoho Nkechi Emilia
Uzoka Macaulay
Uzokwe Eunice Nonye
Uzoma Anyadiegwu Godwin
Uzoma Ngozichukwu
Uzomba Chinonso Brenda
Uzondu Lebechi Ruth
Uzor Afam
Uzor Christopher
Uzor Kelechi Christian
Uzor Ogwo Eme
Uzor Solomon Madurunachukw U
Uzosike Patrick Chijioke
Uzoukwu Angela Kelechi
About Us
Uzoukwu Ngozi
Uzowuru Kingsley Chimezie
Uzuegbunam Christian Okechukwu
Uzuwe Patrick Onochei
Valley Progressive Associates
Venn Emmanuel Ifeanyi
Vera-cruz Erere Enakeno
Veracruz Theresa Oladoyin
Vetiva Nominee-a/c "mayokun Ajibade
Vetiva Securities Limited
Victag Marketing Nig Ltd
Victor Fidelia
Victory Coop Target
Viho Olusegun Semeton
Vincent Christie O
Vincent Olabode Bandele Adebi Si
Voka Iliya Obadiah
Vontau Dorcas Manmak
Vontau Grace Ringbyen
Wada Dalha Taura
Wada Garba Yola
Wada Salisu Aisha
Wada Salith Abdallah
Wada Sani
Wada Tukur
Wada Warure Abdulkadir
Waec Coop Thrift & Credit Society
Wagbatsoma Victoria Ade
Wahaab Funmilayo Jemlat
Wahab Abisoie Olukemi
Wahab Abisola Ayodele
Wahab Adelani Musbau Adegbo Yega
Wahab Akeem Adelani
Wahab Ayoola Jimoh
Wahab Bamidele Oyekunbi
Wahab Isiaka
Wahab Olawunmi Kazeem
Wahab Olugbenga Olayiwola
Wahab Taiwo Olujoku
Waheed Oluwasesan Olamide
Wakilbe Ashe Abba.
Wakili Fadimatu Mohammed
Wali Aisha Bawa
Walu Roseline Wailah
Wambai Bida Mustapha Muhammadu
Wamyil Caroline Yitpomwa
Wanka Abubakar Yakubu
Wanka Amina Yakubu
Wapa Paul Ndirmbulah
Wathanafa Mbitiri
Waziri Nelson Kyari Yusuf`
Waziri Ribina Istifanus James
Wenegieme Prince Basil
Wesley Mimi Amina Hephzibah
Whegbgre Godson
Whiskey William Imonina
Widi Adama Jalo
Wigwe Igwechi Francisca Pau La
Wilbert Lanrence Anirejuorits E
Wilcox Alesta Tamunonibam
Wilkie Frederick
Williams Adaeze C.
Williams Cecilia Abimbola
Williams Chukwudi
Williams Lucy
Williams Seth Gadena
Williams Sunny-chuwunenye
Wilson Victor Okon
ANNUAL REPORT
2014
Operational
Review
Corporate
Governance
Financial
Statements
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
9792
9793
9794
9795
9796
9797
9798
9799
9800
9801
9802
9803
9804
9805
9806
9807
9808
9809
9810
9811
9812
9813
9814
9815
9816
9817
9818
9819
9820
9821
9822
9823
9824
9825
9826
9827
9828
9829
9830
9831
9832
9833
9834
9835
9836
9837
9838
9839
9840
9841
9842
9843
9844
9845
9846
9847
9848
9849
9850
9851
9852
9853
9854
9855
9856
9857
9858
9859
213787
108218
108219
214887
108235
108249
112793
108272
111696
108295
115975
228621
108341
108349
108350
108353
108354
210084
108381
108511
108387
214835
114062
217093
108402
212933
108414
108415
114695
108427
208232
108515
108432
211138
108457
108475
113079
217663
226491
108527
116827
108564
108570
108571
108588
108599
108601
209750
108610
117748
108626
108642
108710
108724
108725
206781
216248
210705
108855
108862
108872
108879
116206
121847
108934
108929
210696
108942
88603
27942
27943
101729
19959
25515
93706
29606
88623
101731
88633
88637
104505
37359
37360
37361
37362
88640
90092
88655
88642
43166
37374
19962
43146
37376
48096
37368
43169
48099
48123
48124
12567
90094
48102
48111
101741
48128
88660
104507
88664
48133
104841
48135
50230
90096
37385
88699
88672
48153
37386
27767
37392
37395
19964
48157
37404
101753
23297
37409
23774
48169
88724
37412
23300
23299
48186
101764
9860
9861
9862
9863
9864
9865
9866
9867
9868
9869
9870
9871
9872
9873
9874
9875
9876
9877
9878
9879
9880
9881
9882
9883
9884
9885
9886
9887
9888
9889
9890
9891
9892
9893
9894
9895
9896
9897
9898
9899
9900
9901
9902
9903
9904
9905
9906
9907
9908
9909
9910
9911
9912
9913
9914
9915
9916
9917
9918
9919
9920
9921
9922
9923
9924
9925
9926
9927
108957
108959
108982
122799
223390
109000
109004
109005
208980
109052
109056
109070
109079
109086
109092
109099
109124
109135
109144
109147
223447
109154
109177
109178
109161
109183
109189
109197
109200
209966
211482
214005
109209
109227
109238
109253
109256
109257
109259
109309
115495
109317
109318
109319
109322
109324
109325
109326
109329
109331
207077
109338
109361
109360
218476
109366
109373
112870
109377
120137
109386
109392
109393
109400
212542
212058
109404
219348
88730
48188
50233
88743
93712
101766
88746
43239
89775
88754
88756
37422
37425
88767
99550
99551
37427
37429
101780
48192
37430
88789
88792
88793
99553
88798
88802
37431
27774
37433
37434
37975
104520
19975
88813
37438
88817
43919
48196
104521
88825
88827
88828
88830
88833
88835
88836
88837
88840
88841
43300
37442
88847
27776
43301
50236
104522
49069
49063
49071
88855
4048
88856
88859
49073
48239
48215
88929
Wilton-waddell Olanrewaju
Winnahs Divine Ifeoma
Winnahs Favour Chijindu
Wirsiy Johnmua Emelda
Wogu Bernadette Nkem
Wokoma Boma John
Women Missionary Union
Wornu Sammie Sean
Wright Olusegun Adekunle
Wukari Cornelius Noel
Wusu Olurotimi
Xtrapearl Investment Limited
Yaate Sunny Tabuka
Yabo Bashir Abubakak
Yabo Hayatu Abubakar
Yabo Muazu Abubakar
Yabo Nabil Abubakar
Yahai Mohammed
Yahaya Abdullahi Osheka
Yahaya Abdulrafiu Abdulhameed
Yahaya Abubakar Sadiq
Yahaya Aishatu Musa
Yahaya Asmau
Yahaya Bala
Yahaya Bashir Hamis
Yahaya Faruk
Yahaya Friday
Yahaya Friday Abache
Yahaya Halimah Hamza
Yahaya Ibrahim
Yahaya Ibrahim Dakata
Yahaya Ibrahim Dukawa
Yahaya Iliyasu Olawale
Yahaya Ilori Hauwa
Yahaya Mohammed Sagir
Yahaya Nura Roni
Yahaya Sheikh Muhammad Sani Jingir
Yahaya Yakubu
Yahaya-zekeri Sherifat
Yahuza Haruna
Yahya Ahmed
Yakasai Buhari Lawan
Yakasai Salisu Ahmed
Yakasai Salisu Garuba
Yakub Saheed
Yakubu Abdullahi Ugah
Yakubu Abdulsalam Maimuna
Yakubu Abibat
Yakubu Ahmed
Yakubu Ahmed Sabo
Yakubu Anthony Momoh
Yakubu Dauda
Yakubu Muhammad Imam
Yakubu Omeiza Jimoh
Yakubu Onalo Otilo
Yakubu Sani Abdulwahab
Yakubu Zainab
Yakzum Felicia George
Yaro Auwalu
Yaro Daniel
Yaro Sagir Ahmad
Yarube Isyaku Umar
Yasaio Ayuba
Yau Badamasi Yamtumaki
Ya'u Rabiu Bachirawa
Yau Usman
Ya'u Usman
Yavala Eunice Yeba
ANNUAL REPORT
2014
Yaya Muyideen Tolani
Yaya-hammari Abubakar
Yekeen Surajudeen Adewale
Yekinni Adejoke Mariam
Yekinni Ibrahim Abiodun
Yelkopba Christiana Tani
Yelwat Kevin Joseph
Yem Ahmadu Jeremiah
Yerima Samuel Dauda
Yesu Segun Felix
Yesufu Abdullahi
Yhwh Hephzibah Concept Ltd
Yilshuut Kenneth
Yinus Rasheed Olusiina
Yinusa Joseph Adeyemi
Yinusa Waheed Oyeleke
Yohanna Ataka Hannatu
Yohanna Jessica
Yohop Grace Adamu
Yola Muhtar Bello
Yole Haruna Inusa
Yomi Talabi
Yomi-johnson Kehinde Oluwatomiki S Amue
Yomi-johnson Taiwo Oluwatomisin Sa Mant
Yomilad Adediran Nig Ent. Eind
Yosola Williams
Young-edo Eronmwon Amy
Yua Paul Mkuma
Yugbovwre Emmanuel Amu
Yuguda Biyamakwu Ibrahim
Yuke Haruna
Yunana Elisha Maida
Yunana Matitiya Yahaya
Yunusa Ahmadu
Yunusa Hadiza Suleiman
Yunusa Mohammed Gana
Yunusa Mustapha
Yunusa Noah Odaudu
Yunusa Rukayatu Lawan
Yussuf Olaide Morike
Yussuf Rashid Abolade
Yussuff Adekemi Anna
Yussuff Adunola Modupe
Yussuff Ayoola Titilayo
Yussuff Kehinde Ololade
Yussuff Lukmon Alade
Yussuff Moyosore Abdulganiy
Yussuff Olalekan Ismail
Yussuph Abib Adebola
Yussyff Olagbenga Rilwan
Yusuf Abdu Goje
Yusuf Abdulfatai
Yusuf Abubakar
Yusuf Abubakar
Yusuf Abubakar Lawal
Yusuf Adamu
Yusuf Ahmad
Yusuf Ahmadu
Yusuf Ahmed Ozi
Yusuf Ahmed Tijjani
Yusuf Alabi Kamoru
Yusuf Aliyu Haidar
Yusuf Aliyu Muhammad
Yusuf Aminu
Yusuf Aminu.
Yusuf Annas Nadabo
Yusuf Asabe Abbah
Yusuf Azeez Onimisi
S/no
Acc. No
Warr. No Names
S/no
Acc. No
Warr. No Names
9928
9929
9930
9931
9932
9933
9934
9935
9936
9937
9938
9939
9940
9941
9942
9943
9944
9945
9946
9947
9948
9949
9950
9951
9952
9953
9954
9955
9956
9957
9958
9959
9960
9961
9962
9963
9964
9965
9966
9967
9968
9969
9970
9971
9972
9973
9974
9975
9976
9977
9978
9979
9980
9981
9982
9983
9984
9985
9986
9987
9988
9989
9990
9991
9992
9993
9994
9995
214388
109425
109436
109447
109453
109464
207434
109700
109491
109496
109501
109503
109504
124367
230894
109513
109520
109701
109534
218985
109566
109569
109570
212246
109583
109587
124539
109600
220781
109619
210200
109628
109632
109636
223465
212960
109660
109745
109760
109755
109756
216921
109764
208782
206524
109785
109790
109798
212184
109832
109887
221527
109907
109910
109938
109954
109984
109979
208078
109990
109991
109997
110028
213936
110064
213945
124837
211292
90100
88866
88867
88870
88871
37454
48245
48244
88878
89787
88880
48224
24776
48246
37459
37458
48225
43308
43287
89791
88889
88893
88894
48249
88899
50246
37481
88902
37483
88913
88938
48233
88916
88918
104524
88942
88922
88959
88970
88964
88965
99574
48255
90101
37491
88978
93725
88984
99576
49082
43928
37500
94958
43325
48284
37510
43330
50253
37981
48288
48289
43333
89016
39028
19985
43337
89028
48312
9996
9997
9998
120012
110134
110135
37536
89032
89033
Yusuf Bashir Babagbeyi
Yusuf Busurat Adenike
Yusuf Deda Abubakar
Yusuf Folashade Kuburat
Yusuf Ganiyu Agboola
Yusuf Hajara
Yusuf Ibrahim Abdullahi
Yusuf Ibrahim Ibrahim
Yusuf Idiatatinuke
Yusuf Idris Jimoh
Yusuf Isalha
Yusuf Islaha
Yusuf Ismail
Yusuf Ismaila Sakina
Yusuf John
Yusuf John
Yusuf Kabiru Danbatta
Yusuf Kenedy Yusuf Kenedy
Yusuf Khadijat Bukola
Yusuf Mohammed Etsu
Yusuf Mohammed Maikyau
Yusuf Mopelola Kamilat
Yusuf Moruf Ireti
Yusuf Muhammad Yusuf
Yusuf Musa
Yusuf Najeem Bayo
Yusuf Nathan Omeiza
Yusuf Olawale Riliwan
Yusuf Rakiya Suleiman
Yusuf Rasheed Babatunde
Yusuf Rukayat Bola
Yusuf Sadiq Sanusi
Yusuf Sally Ayo
Yusuf Segilola Ramat
Yusuf Suleiman
Yusuf Surajudeen Adenrele
Yusuf Tanimu
Yusuff Muinat Omowunmi
Yusuff Nana Hawawu
Yusuff Silifai Aduke
Yusuff Taibat Funmilayo
Yusuff Tope Khairat
Yusufu Abubakar
Yusufu Alfa Tsenya
Yusufu Muhammad
Yusuph Alameen
Yusuph Rauf Ayodele Osuolale
Yyssuff Taiwo Olamide
Zaccheus Adefunke Oluremi
Zaharadeen Suleiman
Zakari Jiya Teni
Zakari Ele
Zakariyau Abdulgafar
Zaki Nuhu
Zango Jamilu Hamisu
Zarah Maldugu
Zarma Balte Ibrahim
Zarma Fatima Mohammed
Zarma Habu Hinna
Zawiyya Fatima Uba
Zawiyya Halima Uba
Zayyana Sabiu Zayyana
Zensu Daniel Paul
Zimro Yohanna
Zinas Helen
Zubair Jaafar Jibril
Zubair Murtala Mohammed
Zubairu Adamu
About Us
Zubairu Idayat Bukola
Zubayr Akinlade Abd Rahmon
Zubayr Rasheedah Bolanle
Operational
Review
Corporate
Governance
Financial
Statements
ANNUAL REPORT
2014
DANGOTE SUGAR REFINERY PLC.
ANNUAL REPORT 2014
Dangote Sugar Refinery Plc
3rd Floor, GDNL Adminstrative Building,
Terminal ‘E’ Apapa Port Complex.
Lagos, Nigeria

- Dangote Group

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