DOCSLIB.ORG

First City Monument Bank Limited Annual Report 31 December 2018 FIRST CITY MONUMENT BANK LIMITED ANNUAL REPORT - 31 DECEMBER 2018

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
First City Monument Bank Limited Annual Report 31 December 2018 FIRST CITY MONUMENT BANK LIMITED ANNUAL REPORT - 31 DECEMBER 2018 First City Monument Bank Limited Annual Report 31 December 2018 FIRST CITY MONUMENT BANK LIMITED ANNUAL REPORT - 31 DECEMBER 2018 Contents Page Board evaluation report 1 Corporate governance 2 - 5 Board of Directors, officers and professional advisors 6 Directors' report 7 - 10 Statement of Directors' responsibilities 11 Board Audit And Risk Management Committee Report 12 Independent Auditor's report 13 -18 Financial statements: Consolidated and separate statements of profit or loss and other comprehensive income 19 Consolidated and separate statements of financial position 20 Consolidated and separate statements of changes in equity 21 - 22 Consolidated and separate statements of cashflows 23 Notes to the consolidated and separate financial statements 24 - 141 Other financial Information: Value added Statement 143 Five year financial summary 144 - 145 First City Monument Bank Limited and Subsidiary Companies Annual Report 31 December 2018 CORPORATE GOVERNANCE FOR THE YEAR ENDED 31 DECEMBER 2018 Commitment to Corporate Governance First City Monument Bank Limited (the Bank) remains committed to institutionalizing corporate governance principles as part of the FCMB Group corporate structure. It continues to ensure adherence to the implementation of corporate governance rules of the Central Bank of Nigeria and other Regulatory Agencies. As in the past, the Board continues to operate in line with its responsibilities as contained in Regulatory Codes of Corporate Governance, the Bank’s Articles of Association and the Companies and Allied Matters Act. Its oversight of the operations and activities of the Bank are carried out transparently without undue influence. Essentially, fair value Corporate Governance depends on the quality and integrity of our Directors. Consequently, the Bank has undertaken to create the institutional framework conducive for defending the integrity of our Directors and is convinced that on account of this, the Board of the Bank is functioning in a highly effective manner. It is intended that we continue to challenge ourselves to improve in areas where need for improvement is identified. Board Composition and Independence As at 31 December 2018, the Board comprised ten (10) Directors made up of six (6) Non - Executive Directors (NED) and four (4) Executive Directors (ED). The Bank’s Board is led by a Non-Executive Chairman and is composed of individuals with enviable records of achievement in their respective fields. These individuals bring on board high levels of competencies and experience. The Board meets regularly to set broad policies for the Bank’s business and operations and ensures that an objective and professional relationship is maintained with the Bank’s auditors in order to promote transparency in financial and non-financial reporting. Directors’ emoluments, as well as their shareholding information are disclosed in the Bank’s Annual Report and Accounts. The Guiding Principles of the Bank’s Code of Corporate Governance remain as follows: • All power belongs to the Shareholders. • Delegation of authority by the owners to the Board and subsequently to Board Committees and Executives is clearly defined and agreed. • Institutionalized individual accountability and responsibility through empowerment and relevant authority. • Clear terms of reference and accountability for Committees at Board and Executive levels. • Effective communication and information sharing outside of meetings. • Actions are taken on a fully informed basis, in good faith with due diligence and care and in the best interest of the Bank and Shareholders. • Enhancing compliance with applicable laws and regulations and the interest of the stakeholders. Where there is any conflict in the Bank’s rules, the local laws and legislation supersede. • Conformity with overall Bank strategy and direction. • Transparency and full disclosure of accurate, adequate and timely information regarding the personal interest of Directors in any area of potential conflict regarding the Bank’s business. Role of the Board • Reviewing alignment of goals, major plans of action, annual budgets and business plans with overall strategy; setting performance objectives; monitoring implementation and corporate performance and overseeing major capital expenditure in line with approved budget. • Ensuring the integrity of the Bank’s accounting and financial reporting systems (including the independent audit) and that appropriate systems are in place for monitoring risk, financial control and compliance with the law. • Selecting, compensating, monitoring and when necessary, replacing key executives and overseeing succession planning. • Interfacing with the Management of the Bank to ensure harmony in implementing FCMB Group strategy. • Performing all statutory roles as required by law. • Through the establishment of Board Committees, making recommendations and taking decisions on behalf of the Board on issues of expenditure that may arise outside the normal meeting schedule of the Board. • Ratifying duly approved recommendations and decisions of the Board Committees. Board Committees During the year ended 31 December 2018, the Board delegated some of its responsibilities to the following Committees: i. Credit Committee Its functions include; • the review and approval of the credit policy manual • to consider and approve detailed analysis for credit including contingents, of amounts in excess of the limit of the Management Credit Committee • review and set credit policy direction where necessary; consider and approve write-offs presented by management 2 First City Monument Bank Limited and Subsidiary Companies Annual Report 31 December 2018 CORPORATE GOVERNANCE FOR THE YEAR ENDED 31 DECEMBER 2018 • be actively involved in credit risk control processes • approve all material aspects of rating and estimation processes, establish a strong internal credit culture • be involved in capital planning, use reports on the Bank’s credit risk profile and capital needs to evaluate the level and trend of material credit risks and their effects on capital level • evaluate the sensitivity and reasonableness of key assumptions used in capital planning Committee Composition: Dr. John Udofa (Chairman up till July 2018), Mr. Olusegun Odubogun (from July 2018), Mr. Bismarck Rewane, Mrs. Mfon Usoro, Mrs. Yemisi Edun, Mr. Adam Nuru and Mrs. Bukola Smith. ii. Finance & General Purpose Committee Its functions include; • the review of global budgets, • review strategy to ensure that desired cost-income ratio is maintained; • consider major capital projects being proposed by management, • consider / review extra-ordinary business initiatives of management on behalf of the Board • review and approve extra-budgetary spending of the Bank above specified limits. Committee Composition: Mr. Olutola Mobolurin (Chairman), Mrs. 'Tokunboh Ishmael, Mr. Adam Nuru, Mrs. Yemisi Edun and Mr. Olu Akanmu. iii. Human Capital and Remuneration Committee Its overall objective is to assist the Board in fulfilling its oversight responsibilities by providing appropriate advice and recommendations on matters relevant to the Committee’s Charter in order to facilitate decision making. The Committee shall: • establish a formal and transparent procedure for the selection and appointment of new Directors to the Board • determine the required role and capabilities for particular appointments • identify suitable candidates to fill Board vacancies as and when they arise and nominating candidates for the approval of the Board • establish the process for the orientation and education of new Directors and develop policies to facilitate continuous education and development of Directors • assess periodically the skills required for each Director to discharge competently the Director’s duties • give full consideration to appropriate Board and senior management succession planning • review disclosures and the process used for appointments • review remuneration for the Directors and senior management of the Bank • approve special welfare schemes and proposals • review and ratify promotions for top management staff • consider disciplinary matters involving top management staff including Directors; Committee Composition: Mr. Olusegun Odubogun (Chairman), Dr. John Udofa (up till July 2018), Mrs. Mfon Usoro, Mrs. 'Tokunboh Ishmael, Mr. Olutola Mobolurin while Mr. Adam Nuru, Mrs. Yemisi Edun and Mrs. Bukola Smith are required to be in attendance only. iv. Audit & Risk Management Committee Its functions include; • the setting of Bank-wide Enterprise Risk Management vision, goals and objectives in compliance with world class standards. • approval of Bank’s Risk Management framework for the various risk areas (credit, operational, strategic, reputational, compliance, market and liquidity risk management). • approval and periodic review of the Bank’s risk appetite and portfolio strategy. • to ensure that appropriate risk management policies, processes and methodologies are in place for managing the various risks to which the Bank may be exposed. • to establish a management structure that is capable of implementing the Bank’s risk management framework and ensure that qualified and competent person(s) at senior levels are employed to manage the various risk areas in the Bank. • responsibility for endorsing the approval of new products/markets subject to the ratification of the Board. • to ensure that the Bank holds sufficient capital against the various risks and is in compliance with established capital adequacy goals and regulations. •
Load more

Recommended publications
  • First City Monument Bank Limited Annual Report 31 December 2019 FIRST CITY MONUMENT BANK LIMITED ANNUAL REPORT - 31 DECEMBER 2019
    First City Monument Bank Limited Annual Report 31 December 2019 FIRST CITY MONUMENT BANK LIMITED ANNUAL REPORT - 31 DECEMBER 2019 Contents Page Board evaluation report 1 Corporate governance 2 - 11 Board of Directors, officers and professional advisors 12 Directors' report 13 - 18 Statement of Directors' responsibilities 19 Board Audit And Risk Management Committee Report 20 Independent Auditor's report 20 -25 Financial statements: Consolidated and separate statements of profit or loss and other comprehensive income 26 Consolidated and separate statements of financial position 27 Consolidated and separate statements of changes in equity 28 - 29 Consolidated and separate statements of cashflows 30 Notes to the consolidated and separate financial statements 31 - 157 Other financial Information: Value added Statement 158 Five year financial summary 159 - 160 First City Monument Bank Limited and Subsidiary Companies Annual Report 31 December 2019 CORPORATE GOVERNANCE FOR THE YEAR ENDED 31 DECEMBER 2019 INTRODUCTION First City Monument Bank Limited maintains the highest standards of Corporate Governance and best practice both within the bank and the Group. Our governance practices are constantly being reviewed to ensure we keep pace with global standards. THE DIRECTORS AND OTHER KEY PERSONNEL During the year under review, the Directors and other key personnel of the Bank complied with the following Codes of Corporate Governance, which the Bank subscribes to: a. The Central Bank of Nigeria (CBN) issued Code of Corporate Governance for Banks and Discount Houses in Nigeria 2014. b. The National Code of Corporate Governance for Public Companies which became effective in January 2019. In addition to the above Codes, the bank complies with relevant disclosure requirements in other jurisdictions where it operates.
    [Show full text]
  • Bank Directory Page 1 S/N Name Staff Staff Position Address Website 1
    Bank Directory S/N Name Staff Staff Position Address Website 1 Central Bank Of Nigeria Mr. Godwin Emefiele, Governor Central Business District, Garki, www.cbn.gov.ng HCIB Abuja 2 Nigeria Deposit Insurance Alhaji Umaru Ibrahim, MNI, Managing Plot 447/448, Constitution http://ndic.org.ng/ Corporation FCIB Director/Chief Avenue, Central Business Executive District, Garki, Abuja 3 Access Bank PLC Mr. Herbert Wigwe, FCA Group Managing 1665, Oyin Jolayemi Street, www.accessbankplc.com Director/Chief Victoria Island, Lagos Executive 4 Diamond Bank PLC Mr. Uzoma Dozie, FCIB Group Managing Plot 1261 Adeola Hopewell www.diamondbank.com Director/Chief Street, Victoria Island, Lagos, Executive Lagos , 5 Ecobank Nigeria PLC Mr. Patrick Akinwuntan Group Managing Plot 21, Ahmadu Bello Way, www.ecobank.com Director/Chief Victoria Island, Lagos Executive 6 First City Monument Bank PLC Mr. Adam Nuru Managing Primrose Towers, 6-10 www.fcmb.com Director/Chief Floors ,17A, Tinubu Square, Executive Officer Lagos 7 Fidelity Bank PLC Nnamdi J. Okonkwo Managing 2, Kofo Abayomi Street, Victoria www.fidelitybankplc.com Director/Chief Island, Lagos Executive 8 First Bank Of Nigeria Limited Dr. Adesola Kazeem Group Managing 35, Marina, Lagos www.firstbanknigeria.com Adeduntan, FCA Director/Chief Executive Officer 9 Guaranty Trust Bank PLC (GT Bank) Mr. Olusegun Agbaje, Managing Plot 1669, Oyin Jolayemi Street, www.gtbplc.com HCIB Director/Chief Victoria Island, Lagos Executive 10 Citibank Nigeria Limited Mr. Akin Dawodu MD/CEO Charles S. Sankey House,27 www.citigroup.com Kofo Abayomi Street, Victoria Island, Lagos 11 Keystone Bank LTD Mr. Hafiz Olalade Bakare Managing 1, Keystone Bank Crescent, www.keystonebankng.com Director/Chief Victoria Island Executive Page 1 Bank Directory 12 Polaris Bank PLC Mr.
    [Show full text]
  • Rights Circular Is Provided in Sections 85 and 86 of the Investments & Securities Act No 29, 2007
    RC 6262 This document is important and should be read carefully. If you are in any doubt about its contents or the action to take, please consult your Stockbroker, Accountant, Banker, Solicitor or any other professional adviser for guidance immediately. Investors are advised to note that liability for false or misleading statements or acts in connection with this Rights Circular is provided in sections 85 and 86 of the Investments & Securities Act No 29, 2007 FOR INFORMATION CONCERNING CERTAIN RISK FACTORS WHICH SHOULD BE CONSIDERED BY SHAREHOLDERS, SEE “RISK FACTORS” COMMENCING ON PAGE 42. Rights Issue of 12,133,646,995 ordinary shares of 50koboeach at N4.10per share On the basis of 5 (five) new ordinary shares for every 7 (seven) ordinary shares held as at August 21, 2017. Payable in full on acceptance Acceptance list opens September 20, 2017 Acceptance list closes October 30, 2017 Lead Issuing House Joint Issuing Houses RC 1031358 RC 622258 RC 199528 THE RIGHTS BEING OFFERED IN THIS CIRCULAR ARE TRADEABLE ON THE FLOOR OF THE NIGERIAN STOCK EXCHANGE FOR THE DURATION OF THE RIGHTS ISSUE. This Rights Circular and the Securities which it oers have been cleared and registered by the Securities & Exchange Commission. It is a civil wrong and a criminal oence under the Investments and Securities Act No. 29 2007 to issue a Rights Circular which contains false or misleading information. Clearance and Registration of this Rights Circular and the Securities which it oers do not relieve the parties from any liability arising under the Act for false and misleading statements contained herein or for any omission of a material fact.
    [Show full text]
  • Name of Institution Head Office Address 1
    LIST OF DEPOSIT MONEY BANKS AND FINANCIAL HOLDING COMPANIES OPERATING IN NIGERIA AS AT SEPT 30, 2019 COMMERICAL BANKING LICENCE WITH INTERNATIONAL AUTHORIZATION NAME OF INSTITUTION HEAD OFFICE ADDRESS 1 ACCESS BANK PLC 999c, Danmole Street, Off Idejo Street, Off Adeola Odeku Street, Victoria Island, Lagos 2 FIDELITY BANK PLC 2, Kofo Abayomi Street, Victoria Island, Lagos 3 FIRST CITY MONUMENT BANK PLC Primose Towers, 17a, Tinubu Street, Lagos 4 FIRST BANK NIGERIA LIMITED Samuel Asabia House, 35 Marina, Lagos 5 GUARANTY TRUST BANK PLC 635, Akin Adesola Street, Victoria Island, Lagos 6 UNION BANK OF NIGERIA PLC Stallion Plaza, 36 Marina, Lagos 7 UNITED BANK OF AFRICA PLC 57 Marina, Lagos 8 ZENITH BANK PLC Plot 84, Ajose Adeogun Street, Victoria Island, Lagos COMMERICAL BANKING LICENCE WITH NATIONAL AUTHORIZATION 9 CITIBANK NIGERIA LIMITED 27, Kofo Abayomi Street, Victoria Island, Lagos 10 ECOBANK NIGERIA PLC 21, Ahmadu Bello Way, Victoria Island, Lagos 11 HERITAGE BANK LIMITED 292b, Ajose Adeogun Street, Victoria Island, Lagos 12 KEYSTONE BANK LIMITED Keystone House, 1, Keystone Crescent, Victoria Island, Lagos 13 POLARIS BANK PLC 3, Akin Adesola Street, Victoria Island, Lagos 14 STANBIC IBTC BANK PLC IBTC Place, Walter Carrington Crescent, Victoria Island, Lagos 15 STANDARD CHARTERED BANK LIMITED 142, Ahmadu Bello Way, Victoria Island, Lagos 16 STERLING BANK PLC Sterling Towers, 20 Marina, Lagos 17 TITAN TRUST BANK LTD Plot 1680 Sanusi Fafunwa Street, Victoria Island, Lagos State. 18 UNITY BANK PLC Plot 42, Ahmed Onibudo Street, Victoria Island, Lagos 19 WEMA BANK PLC Wema Towers, 54 Marina, Lagos Island, Lagos COMMERICAL BANKING LICENCE WITH REGIONAL AUTHORIZATION 20 SUNTRUST BANK NIGERIA LIMITED 1, Oladele Olashore Street, Victoria Island, Lagos 21 PROVIDUS BANK PLC Plot 54, Adetokunbo Ademola Street, Victoria Island, Lagos NON-INTEREST BANKING LICENCE WITH NATIONAL AUTHORIZATION 22 JAIZ BANK PLC Kano House, Plot 73, Ralph Shodeinde Street, Central Business District, Abuja MERCHANT BANKING LICENCE WITH NATIONAL AUTHORIZATION 23 CORONATION MERCHANT BANK St.
    [Show full text]
  • Name of Institution Head Office
    LIST OF DEPOSIT MONEY BANKS AND FINANCIAL HOLDING COMPANIES OPERATING IN NIGERIA AS AT JULY 19, 2019 COMMERICAL BANKING LICENCE WITH INTERNATIONAL AUTHORIZATION NAME OF INSTITUTION HEAD OFFICE ADDRESS 1 ACCESS BANK PLC 999c, Danmole Street, Off Idejo Street, Off Adeola Odeku Street, Victoria Island, Lagos 2 FIDELITY BANK PLC 2, Kofo Abayomi Street, Victoria Island, Lagos 3 FIRST CITY MONUMENT BANK PLC Primose Towers, 17a, Tinubu Street, Lagos 4 FIRST BANK NIGERIA LIMITED Samuel Asabia House, 35 Marina, Lagos 5 GUARANTY TRUST BANK PLC 635, Akin Adesola Street, Victoria Island, Lagos 6 UNION BANK OF NIGERIA PLC Stallion Plaza, 36 Marina, Lagos 7 UNITED BANK OF AFRICA PLC 57 Marina, Lagos 8 ZENITH BANK PLC Plot 84, Ajose Adeogun Street, Victoria Island, Lagos COMMERICAL BANKING LICENCE WITH NATIONAL AUTHORIZATION 9 CITIBANK NIGERIA LIMITED 27, Kofo Abayomi Street, Victoria Island, Lagos 10 ECOBANK NIGERIA PLC 21, Ahmadu Bello Way, Victoria Island, Lagos 11 HERITAGE BANK LIMITED 292b, Ajose Adeogun Street, Victoria Island, Lagos 12 KEYSTONE BANK LIMITED Keystone House, 1, Keystone Crescent, Victoria Island, Lagos 13 POLARIS BANK PLC 3, Akin Adesola Street, Victoria Island, Lagos 14 STANBIC IBTC BANK PLC IBTC Place, Walter Carrington Crescent, Victoria Island, Lagos 15 STANDARD CHARTERED BANK LIMITED 142, Ahmadu Bello Way, Victoria Island, Lagos 16 STERLING BANK PLC Sterling Towers, 20 Marina, Lagos 17 TITAN TRUST BANK LTD Plot 1680 Sanusi Fafunwa Street, Victoria Island, Lagos State. 18 UNITY BANK PLC Plot 42, Ahmed Onibudo Street, Victoria Island, Lagos 19 WEMA BANK PLC Wema Towers, 54 Marina, Lagos Island, Lagos COMMERICAL BANKING LICENCE WITH REGIONAL AUTHORIZATION 20 GLOBUS BANK LIMITED No.
    [Show full text]
  • My Bank and I…
    First City Monument Bank Plc Annual Report and Accounts 2010 Our vision: To be the Premier Financial Services Group of African Origin. First City Monument Bank Plc Primrose Towers, 17A Tinubu Street, P.O. Box 9117, Lagos State, Nigeria Tel: 01-2665944, Fax: 01-2665126 www.firstcitygroup.com My Bank and i… Designed by Flag, UK. FCMB ANNUAL REPORT 2010 WELCOME Annual Report and Accounts for 2010 First City Monument Bank Plc (FCMB) is a wholesale Our vision banking group with a niche retail banking franchise, To be the Premier Financial Services Group of African Origin. headquartered in Lagos, Nigeria. FCMB is the flagship company of First City Group, and maintains a presence ore va Our c lues in the United Kingdom and the Republic of South Africa to support its growing customer base. m lis Am na b io it s io s n e f Our mission o r P We are passionate about building a world-class financial services group that is focused on adding value to businesses and lives, and committed to E a culture of excellence. x y c t e i l iv Auditors: FBN (UK) Ltd l t en a KPMG Professional Services Fortis Bank, SA/NV London c re e C (Chartered Accountants) HSBC Plc Correspondent Banks: Standard Bank Plc South Africa ANZ Banking Group Limited Standard Chartered Bank Plc, UK Bank of Beirut (UK) Ltd UBN (UK) Ltd BNP Paribas United Bank of Africa Plc Citibank New York (New York) CONTENTS FCMB ANNUAL REPORT 2010 1 My Bank and i… INTRODUCTION INTRODUCTION 2 Who we are 4 Notice of annual general meeting 6 From the archives of the founder 8 Statement from the chairman
    [Show full text]
  • Annual Report and Accounts December 2009 First City Monument Bank Plc Annual Report and Accounts December 2009
    Annual Report and Accounts December 2009 First City Monument Bank Plc Annual Report and Accounts December 2009 Our vision: To be the Premier Financial Services Group of African Origin. First City Monument Bank Plc Primrose Tower, 17A Tinubu Street, P.O. Box 9117, Lagos State, Nigeria Tel: 01-2665944, Fax: 01-2665126 www.firstcitygroup.com Designed by Flag, UK. Contact: First City Monument Bank Plc Primrose Tower, 17A Tinubu Street, P.O. Box 9117, Lagos State, Nigeria First City Monument Bank Plc (FCMB) is a universal banking institution headquartered in Lagos, Nigeria. FCMB is the flagship company of First City Group, and maintains a presence in the United Kingdom and the Republic of South Africa to support its growing customer base. Our vision: To be the Premier Financial Services Group of African Origin. Our mission: We are passionate about building a world-class financial services group that is focused on adding value to businesses and lives, and committed to a culture of excellence. Our core values: Professionalism Ambition Creativity Excellence CONTENTS FCMB ANNUAL REPORT 2009 1 INTRODUCTION 2 corporate PROFILE INTRODUCTION 4 NOTICE OF ANNUAL GENERAL MEETING My Bank and i… 6 FROM THE ARCHIVES OF THE FOUNDER 8 Statement FROM THE CHAIRMAN 12 REVIEW BY THE CHIEF EXECUTIVE OFFICER OPERATING REVIEW Auditors: 16 Corporate SOCIAL RESPONSIBILITY ACTIVITY REPORT OPERATING REVIEW PricewaterhouseCoopers 21 BOARD evaluation report (Chartered Accountants) 22 Corporate GOVERNANCE Correspondent Banks: 28 BOARD OF DIRECTORS ANZ Banking Group Limited
    [Show full text]
  • List of Deposit Money Banks As at June 30, 2021 Commercial Banking Licence with International Authorization Sn Name of Instituti
    LIST OF DEPOSIT MONEY BANKS AS AT JUNE 30, 2021 COMMERCIAL BANKING LICENCE WITH INTERNATIONAL AUTHORIZATION SN NAME OF INSTITUTION HEAD OFFICE ADDRESS STATE 1 ACCESS BANK PLC 14/15, Prince Alaba Oniru Road, Victoria Island, Lagos. LAGOS 2 FIDELITY BANK PLC 2, Kofo Abayomi Street, Victoria Island, Lagos LAGOS 3 FIRST CITY MONUMENT BANK PLC Primose Towers, 17a, Tinubu Street, Lagos LAGOS 4 FIRST BANK NIGERIA LIMITED Samuel Asabia House, 35 Marina, Lagos LAGOS 5 GUARANTY TRUST BANK PLC 635, Akin Adesola Street, Victoria Island, Lagos LAGOS 6 UNION BANK OF NIGERIA PLC Stallion Plaza, 36 Marina, Lagos LAGOS 7 UNITED BANK OF AFRICA PLC 57 Marina, Lagos LAGOS 8 ZENITH BANK PLC Plot 84, Ajose Adeogun Street, Victoria Island, Lagos LAGOS COMMERCIAL BANKING LICENCE WITH NATIONAL AUTHORIZATION 9 CITIBANK NIGERIA LIMITED 27, Kofo Abayomi Street, Victoria Island, Lagos LAGOS 10 ECOBANK NIGERIA PLC 21, Ahmadu Bello Way, Victoria Island, Lagos LAGOS 11 HERITAGE BANK LIMITED 292b, Ajose Adeogun Street, Victoria Island, Lagos LAGOS 12 KEYSTONE BANK LIMITED Keystone House, 1, Keystone Crescent, Victoria Island, Lagos LAGOS 13 POLARIS BANK PLC 3, Akin Adesola Street, Victoria Island, Lagos LAGOS 14 STANBIC IBTC BANK PLC IBTC Place, Walter Carrington Crescent, Victoria Island, Lagos LAGOS 15 STANDARD CHARTERED BANK LIMITED 142, Ahmadu Bello Way, Victoria Island, Lagos LAGOS 16 STERLING BANK PLC Sterling Towers, 20 Marina, Lagos LAGOS 17 TITAN TRUST BANK LTD Plot 1680 Sanusi Fafunwa Street, Victoria Island, Lagos State. LAGOS 18 UNITY BANK PLC Plot 42, Ahmed Onibudo Street, Victoria Island, Lagos LAGOS 19 WEMA BANK PLC Wema Towers, 54 Marina, Lagos Island, Lagos LAGOS COMMERCIAL BANKING LICENCE WITH REGIONAL AUTHORIZATION 20 GLOBUS BANK LIMITED No.
    [Show full text]
  • Download 2018 Annual Reports.Pdf
    www.lsetf.ng 2018 Annual Report LSETF LAGOS STATE EMPLOYMENT TRUST FUND SKILLS DEVELOPMENT | ACCESS TO FINANCE | INNOVATION programmes [email protected] L A G O S S T A T E E M P L O Y M E N T T R U S T F U N D CONTENT Our Vision, Mission and Core Value 5 About Us 6 Corporate Information 8 Financial highlights 10 Trustees Report 12 Impact Assessment 17 LSETF Sources of Funds and Expenditure Analysis 20 Statement of trustees' responsibilities in relation to the preparation of nancial statements 24 Board Audit and Risk Committee Report 25 Board Credit and Investment Report 27 Board Governance Committee Report 29 Board Legal Advisory Committee Report 31 Board Stakeholders Committee Report 32 Independent Auditor's Report 33 Statement of Financial Performance 36 Statement of Financial Position 37 Statement of Changes In Net Assets/equity 38 Cash Flow Statement 39 Notes To Financial Statements 40 Other National Disclosures: Value Added Statement 75 F I N A N C I A L R E P O R T F O R L S E T F F O R T H E Y E A R E N D E D 3 1 D E C E M B E R 2 0 1 8 04 L A G O S S T A T E E M P L O Y M E N T T R U S T F U N D Vision Mission Creating employment Enabling Lagos residents and entrepreneurship realize their aspirations by opportunities for all providing leverage & Lagos residents.
    [Show full text]
  • Corporate Members of the Chartered Institute of Bankers Of
    CORPORATE MEMBERS REGULATORY CENTRAL BANK OF NIGERIA NIGERIA DEPOSIT INSURANCE Central Business District CORPORATION Garki-Abuja Plot 447/448 Constitution Avenue, FCT Central Business District, Garki – Abuja [email protected] [email protected], [email protected] 07002255226; +23494623970102 (09) 460 1380 – 9 (09) 617 1380 – 9 DEPOSIT MONEY BANKS ACCESS BANK PLC CITIBANK NIGERIA LTD PC 999C Danmole Street 27/29 Kofo Abayomi Street Off Adeola Odeku/Idejo Street Victoria Island Victoria Island, Lagos Lagos. DIAMOND BANK PLC ECOBANK NIGERIA LTD Plot 4, Block 5 Plot 21, Ahmadu Bello Way BIS Way Victoria Island Off Lekki – Epe Expressway Lagos Lekki, Lagos FIDELITY BANK PLC FIRST BANK OF NIGERIA LTD Fidelity Place Samuel Asabia House 2, Kofo Abayomi Street 35, Marina Victoria Island, Lagos Lagos FIRST CITY MONUMENT BANK PLC GUARANTY TRUST BANK PLC Primrose Towers Plot 635, Akin Adesola Street 17A, Tinubu Street Victoria Island Lagos Lagos KEYSTONE BANK LTD HERITAGE BANK PLC 1, Keystone Bank Crescent 292B, Ajose Adeogun Street Off Adeyemo Alakija Street Victoria Island, Lagos Victoria Island, Lagos PROVIDUS BANK PLC SKYE BANK PLC 54, Adetokunbo Ademola Street 3, Akin Adesola Street Victoria Island, Lagos Victoria Island Lagos CORPORATE MEMBERS DEPOSIT MONEY BANKS STANBIC-IBTC BANK PLC STANDARD CHARTERED BANK LTD IBTC Place, Walter Carrington 142 Ahmadu Bello Way Crescent Victoria Island Off Ozumba Mbadiwe Street Lagos Victoria Island, Lagos SUNTRUST BANK NIGERIA STERLING BANK PLC LIMITED Sterling Towers 1, Oladele Olashore Steet, off 20 Marina Sanusi Fafunwa Street, Lagos Victoria Island, Lagos UNITED BANK FOR AFRICA PLC UNION BANK OF NIGERIA PLC UBA House Stallion Plaza 57, Marina 36, Marina, Lagos Lagos.
    [Show full text]
  • Financial Statements
    Building the future Annual Report and Accounts 2008 Corporate information Building the future Board of Directors: Adewale Adedapo Vice President Dr Jonathan AD Long Chairman Olusiji Adeyinka Vice President Mr Ladi Balogun Managing Director/ Ayoleke Adu Vice President towards a Chief Executive Officer Folake Fajemisin Vice President Mr Anurag Saxena Executive Robert Grant Vice President Director/Chief Operating Officer Patrick Iyamabo Vice President world-class business Mr Henry Semenitari Executive Director Bonaventure Okhaimo Vice President Mr GTS Adokpaye Director Oni Olayinka Vice President Our mission: We are passionate about building a world-class Dr John Udofa Director Obatoyinbo Oloyede Vice President financial services group that is focused on adding value to Mr Tope Lawani Director Bukola Smith Vice President businesses and lives, and committed to a culture of excellence. Mr Nigel Kenny Director Austin Ufomba Vice President Mr Ladi Jadesimi Director FCMB Capital Markets: Mr Bismarck Rewane Director Our vision: Francis Esem Wood Managing Director Alhaji Ibrahim Damcida Director Bayode Rotimi Senior Vice President To be the premier financial services group of African origin. Mr Maurice Phido Executive Director Bekuochi Nwawudu Senior Vice President We provide financial services in the following areas: (Notice of resignation received 11 March Company Secretary: 2008, effective 2 May 2008) Consumer banking Mrs Olajumoke Bakare Senior Management: The building blocks for creating the most valuable consumer banking franchise Ladi Balogun Managing Director/ Auditors: in Nigeria are being established. Chief Executive Officer PricewaterhouseCoopers Anurag Saxena Executive Director/ (Chartered Accountants) Transaction banking Chief Operating Officer Correspondent Banks: For corporates, government and SMEs we provide value-adding technology Henry Semenitari Executive Director ANZ Banking Group Limited solutions in the areas of trade, payments, collections and liquidity management.
    [Show full text]
  • Fcmb Group Plc Annual Report and Accounts 2019
    FCMB GROUP PLC ANNUAL REPORT AND ACCOUNTS 2019 FCMB GROUP PLC ANNUAL REPORT AND ACCOUNTS FCMB Group Plc First City Plaza, 44 Marina, Lagos, Nigeria www.fcmbgroupplc.com FCMB GROUP PLC OUR VISION To be the premier financial services group of African origin. OUR MISSION To attain the highest levels of customer advocacy, be a great place to work and deliver superior and sustainable returns to our shareholders. OUR CORE VALUES Execution Professionalism Innovation Customer Focus ANNUAL REPORT 2019 At FCMB, we place great value on being a responsible institution. By creating a great place for our people to work, selling our products and services responsibly, eecting positive social outcomes and mitigating the environmental impact of our operations, we believe that we can make a greater positive contribution to our operating environment. Introduction Operating Corporate Financial Other National Shareholder Branches and Account Review Governance Statements Disclosures Information Opening Information Contents Introduction Operating Corporate 1 2 Review 3 Governance At FCMB, we place great value on being a 5 About FCMB Group Plc 15 2019 Awards Won 33 Board of Directors responsible institution. 6 From the Archives of the Founder 17 Operating Companies’ 39 Board Evaluation Report Performance Highlights 8 Chairman’s Statement 40 Corporate Governance – Commercial & Retail 11 Group Chief Executive’s Report Banking Group 48 Management Report – Asset & Wealth on Certification of Management Group Financial Statements By creating a great place – Investment
    [Show full text]