TABLE OF CONTENT

Corporate Information...... 2

Notice of Meeting...... 3

Financial Highlights...... 4

Chairman’s Statement...... 5 - 7

Company’s Profile...... 8

Board of Directors...... 9

Directors Profile...... 10 - 11

Report of The Directors...... 12 - 18

Report of The Audit Committee...... 19

Statement of Directors’ Responsibilities ...... 20

Report of The Independent Auditors...... 21

Statement of Financial Position...... 22

Statement of Profit or Loss & Other Comprehensive Income...... 23

Statement of Changes in Equity...... 24

Statement of Cash Flows...... 25

Notes To The Financial Statements...... 26 - 57

Management Team...... 58

Shareholders’ Proxy Form ...... 59

Shareholders’ Admission Form...... 60

Authority To Electronically Receive Corporate Information ...... 61

List of Unclaimed Dividend ...... 62 - 73

Products’ Advertisement ...... 74 - 84

Notes...... 85 - 88

1 CORPORATE INFORMATION

Directors Mr Folarin R.A. Williams Non-Executive Director/Chairman Mr. Adekunle Abibu Executive Director (Managing) Mr. I.O. Bajulaye Executive Director Mr. Collins C. Chikeluba Non-Executive Director Mr. Godwin A. Alegieuno Non-Executive Director Mr. Steve U. Osai Non-Executive Director Mr. Kolapo A. Lawson Non-Executive Director Chief Joe O. Anyigbo Non-Executive Director Alhaji Bala Zakariyau Non-Executive Director Professor H.A.B. Coker Non-Executive Director

Company Secretary Unity Trustees Limited 1, Shagamu Avenue Ilupeju, Lagos E-mail: [email protected] Tel: 2715354-61, 2719634-7

Company Number Rc. 6711

Registered Office Plot C15/3, Agbara Industrial Estate, Agbara, . P.O. Box 1479, Apapa Lagos E-mail : [email protected]

Auditors SIAO (Chartered Accountants) 18B, Olu Holloway Road, Ikoyi Lagos. P.O.Box 55461, Falomo, Ikoyi, Lagos Tel: 01-4630871, 4630872 Website: www.siao-ng.com E-mail : [email protected]

Solicitors Chief Rotimi Williams’ Chambers 1, Shagamu Avenue Illupeju, Lagos P.O Box 3426, Marina, Lagos Tel: 2715354-61, 2719634-7, 7419142, 7349941 Website: www.frawilliams.com Email: [email protected]

Registrars & Transfer Office Apel Capital & Trust Limited (Formerly PHB Registrars) 8, Alhaji Balogun Street Off Norman Williams Crescent South/ West Ikoyi, Lagos P.O.Box 2388, Marina, Lagos. Tel:01-8739028, 01-7401444, 01-7401445 E-mail : [email protected]

Bankers Diamond Bank Plc Ecobank Plc First City Monument Bank Limited Keystone Bank Limited

2 NOTICE OF MEETING

THIS IS NOTICE THAT THE 45th Annual General Meeting of Pharma- Deko Plc will be held at the Federal Palace Hotel, 6-8 Ahmadu Bello Way, Victoria Island, on Tuesday, the 28th day of April, 2015 at 12 noon for the following purposes:

ORDINARY BUSINESS 1. To receive the Audited Financial Statements for the year ended 31st December 2014, together with the Reports of the Directors, Audit Committee and Auditors thereon. 2. To re-appoint the following Directors who retire by rotation: a) Mr. F.R.A. Williams b) Mr. S.U. Osai c) Professor H.A.B. Coker 3. To re-appoint the Auditors. 4. To authorize the Directors to fix the remuneration of the Auditors. 5. To appoint / re-appoint members of the Audit Committee.

SPECIAL BUSINESS 1. To fix the remuneration of the Directors. 2. To change the registered address of the Company from Plot C15/3, Agbara Industrial Estate, Agbara, Ogun State to Plot C1/1, Agbara Industrial Estate, Agbara, Ogun State

The date of this Notice is 7th April, 2015. BY THE ORDER OF THE BOARD

SOLOMON OSAKWE FRC/2015/NBA/00000011417 FOR: UNITY TRUSTEES LIMITED COMPANY SECRETARY 1, Shagamu Avenue, Ilupeju, Lagos NOTE: 1) PROXY A member of the Company who is entitled to attend and vote at the meeting is also entitled to appoint a proxy, who need not be a Member of the Company, to attend, speak and vote instead of him. All instruments of proxy should be deposited with the Office of the Registrar of the Company at 8, Alhaji Bashorun Crescent, Off Norman Williams, Ikoyi, Lagos not later than 48 hours before the time fixed for the meeting.

2) AUDIT COMMITTEE In accordance with Section 359(5) of the Companies and Allied Matters Act, 2007, any member of the Company may nominate a Shareholder as a member of the Audit Committee by giving notice in writing to the Company Secretary at least 21 days before the Annual General Meeting.

3) CLOSURE OF REGISTER The Register of Members will be closed 8th April 2015 to 10th April 2015 to enable the Registrars prepare for the Annual General meeting.

3 FINANCIAL HIGHLIGHTS

2014 2013 Difference Difference

N'000 N'000 N'000 %

Turnover 1,566,190 1,060,308 505,882 48

Cost of Sales (642,268) (616,954) 25,314 4

Profit/(Loss) Before Taxation 150,171 (127,993) 378,772 166

Taxation (49,164) 6,811 (55,974) (822)

Profit/(Loss) After Taxation 101,007 (121,182) 222,190 183

Issued Share Capital 50,000 50,000 - -

Total Equity 931,204 830,197 101,007 12

Total Non Current Assets 2,000,586 2,020,263 (19,677) (1)

Total Current Assets 838,643 477,873 360,769 75

Total Assets 2,839,229 2,498,136 341,093 14

Total Non Current Liabilities 116,089 99,593 16,496 17

Total Current Liabilities 1,791,935 1,568,346 223,590 14

Total Equity and Liabilities 2,839,229 2,498,136 341,093 14

4 CHAIRMAN’S STATEMENT

Distinguished Shareholders, fellow Directors, representatives of the Regulatory Agencies, Members of the Press, Distinguished ladies and gentlemen, it is with great pleasure that I welcome you all to the 45th Annual General Meeting of our Company PHARMA-DEKO PLC. I feel honoured to present to you the financial statements and reports of the financial year ended 31st December, 2014 together with a review of the performance of our Company in the course of the financial year.

Fellow shareholders, thank you for your continued support and co-operation with the Company and the Board during the financial year. This has greatly encouraged the Board and management to continue to make giant strides in operational excellence and business performance in spite of the challenging business environment.

I wish to start my address by highlighting some of the key events in our operating environment that underscored our performance in 2014.

OPERATING ECONOMIC ENVIRONMENT...... The Nigerian business environment remained challenging and dynamic in the 2014 financial year. Inconsistent power supply, the fall in crude oil prices and the devaluation of the naira negatively impacted the economy as well as the business of the company.

Although now regarded as the largest economy in Africa, the Nigeria's business environment also has the largest inhibiting factors that still make business operations difficult.

The economy is faced with serious issues of infrastructure deficits, especially with regards to power. This continues to be a concern despite the privatization of the Power Sector. Production and logistics costs as well as access to funds have combined to create a huge burden on domestic enterprises operating in the manufacturing sector.

The security situation in the country most especially in the Northern part of the Country impacted on investment risk. Access to markets in the North was affected negatively.

The electioneering campaigns in readiness for 2015 General Elections shifted the focus of investors in the economy. The devaluation of the naira also affected the cost and accessibility of raw materials.

THE HEALTH CARE SECTOR ...... The National Agency for Food and Drug Administration and Control continues to have a positive impact on reducing the counterfeit drugs trade. However, counterfeit drugs still comprise a substantial percentage of drugs in circulation.

COMPANY REVIEW...... Esteemed shareholders, despite all the challenges, I am pleased to inform you that Our Company recorded a turnover of N1.5 Billion which is 48% higher than year 2013 actual but 7% less than the budget.

5 CHAIRMAN’S STATEMENT - CONT’D

We were able to record a profit of N101 million after tax in the year 2014.

This result was achieved through the improvement in marketing activities carried out in 2014 for Sans Cream Soda in all the regions as well as the acquisition of new vehicles for the Company's Sales Representatives. Our growth was funded entirely by internally generated funds.

We were unable to meet up with the expected launch of new products. But you will see that Bien Flavoured Water in Apple, Peach and Banana-lime flavours is now back in production.

We have initiated plans to consolidate our two Factories into one location to become more effective and efficient.

RIGHTS ISSUE...... The much anticipated Rights Issue of “3 new shares for every 2 held” with Integrated Trust & Investment Ltd being the Issuing House has been successfully completed. We appreciate the tremendous acceptance given to the Right Issue by all stakeholders.

OPERATING RESULT...... Our Company was able to achieve an increase in turnover of 48%. The Company is financially exposed to N884 million of short-term expensive debt. We are actively managing and negotiating these debts to free Pharma Deko from the exorbitant finance charges incurred annually.

We hope to be able to give a positive report in year 2015.

BUSINESS OUTLOOK...... Our Company's performance was impacted by the factors earlier mentioned. Let me assure you that the Company's strategy is sound. We shall continue to make substantial efforts in raising Capital. We believe the company shall be able to favourably compete in the business environment.

CORPORATE SOCIAL RESPONSIBILITY...... The company played its role as a good corporate citizen particularly to the communities around Agbara Industrial Estate. The company also made product donations.

HUMAN CAPITAL...... There was Training and Development of key Staff to enable them to adapt to modern Operations. It remains our goal to develop and align the energy, passion and performance of our people to sustainably deliver Pharma-Deko's ambitions, as well as their own personal objectives. We have strong development programmes in place for all levels of employees.

DIVIDENDS...... The Board of Directors are not recommending the payment of dividends for the year ended 31st December, 2014.

6 CHAIRMAN’S STATEMENT - CONT’D

THE FUTURE...... The Company has re-introduced the Apple, Peach and Banana Lime Bien flavoured drinks in the 1st quarter of the year 2015. Other flavours will be re-introduced during the course of the year.

CHANGES IN THE BOARD...... Since the last Annual General Meeting, there have been some changes in the composition of the Board. Mr. Isaac Bajulaye resigned his appointment from the Board with effect from 19th February, 2015. We thank him for his contributions.

I am also pleased to inform you that Professor H.A.B Coker joined our Board of Directors with effect from May 14th 2014. Prof H.A.B Coker is a renowned Pharmacist and a Professor of Pharmaceutical Chemistry. His wealth of experience and expertise shall be of advantage in moving the company forward.

Chief J. O. Anyigbo turned 70 in the course of the year.

CONCLUSION...... Distinguished Ladies and Gentlemen, I am pleased to acknowledge and appreciate the support of my colleagues on the Board, the commitment and hard work of management and staff at all levels. Distinguished shareholders, thank you for your patience and support so far.

I would like to use this opportunity to thank our shareholders, business partners, distributors, suppliers, service providers, host communities and customers without whose support and co-operation the success could not have been achieved.

In the coming year, we will continue to leverage on our core strengths, ensure that we are able to provide even better solutions to all our customers' needs. Distinguished shareholders, thank you for your patience and support so far.

Finally, I thank you most sincerely for your presence and kind attention.

Thank you.

F.R.A. WILLIAMS

7 COMPANY’S PROFILE

PHARMA DEKO PLC. started in Nigeria in 1969 as Parke-Davis Company (US) operating a non-trading branch in Nigeria to promote its world-wide range of quality pharmaceutical products. In December 1969, the company was incorporated under Nigerian law as Parke-

Davis and Company (Nig.) Limited. Prior to this, the importation and distribution of the company products was done by appointed agents. The new company took over all these functions upon incorporation. Then in 1974, with the promulgation of the Nigerian Enterprise Promotion Decree

(1972), 40% of the shares of thecompany were sold to the Nigeria citizens and associations. The company operated under the name, Parke-Davis and Company (Nig.) Limited until February 28,

1980, when the name was changed to Pharma Deko Limited. Sequel to its conversion from private to public company limited by shares, the company is now known as Pharma Deko Plc.

Pharma Deko Plc is the first Pharmaceutical Company in Nigeria to be ISO (International

Organisation for Standards) certified to produce Vitacee (brand of Vitamin C) Drops/Syrups and Carbonated Soft Drinks......

Our consistent level of quality and dedication to healthcare makes us one of the country's leading producers of pharmaceutical and consumer healthcare products. Our popular brands include but are not limited to Pharmadec (Syrup and Drops), Parkalin Cough Range, Anuproc,

Salins Liniment, Revitone Blood Tonic and Antasil brand of antacid. Others are Sans Cream

Soda, Dextra Energy Drink, Blackcurrant, Bien Flavoured Water range, Ms Cola, Brett

Mouthwash, Hexedene and many other products emanating from our research and development laboratory. These products are distributed nation-wide through a network of

Medical and Consumer Sales Representatives......

8 BOARD OF DIRECTORS

1 2

F. R. A. Williams (Jnr.) - Chairman Abibu Adekunle - Managing Director

3 4 5

Prof. H.A.B. Coker - Director G. A. Alegieuno - Director C. C. Chikeluba - Director

6 7

S. U. Osai - Director K. A. Lawson - Director

8 9 10

J. O. Anyigbo - Director Alh. Bala Zakariya’u - Director Bajulaye Isaac - Executive Director

9 DIRECTORS PROFILE

MR. FOLARIN R. A. WILLIAMS - CHAIRMAN Mr. Folarin Williams holds degrees in Chemical Engineering and Law. He graduated with a B.Sc. (Hons) ACGI in Chemical Engineering from the Imperial College of Science and Technology London University in 1977. He aIso obtained a Master of Arts (Cantab) Law from Selwyn College Cambridge in 1983 and was called to the Nigerian Bar in 1984. He holds board appointments in a number of companies within the pharmaceutical, information technology, logistics and oil-field services industrial sectors. He is currently the Managing Partner of Chief Rotimi Williams' Chambers, a full service Law firm in Nigeria.

MR. ADEKUNLE ABIBU – MANAGING DIRECTOR Mr. Adekunle Abibu graduated with a B.Sc. (Hons) in Industrial Engineering from the University of Ibadan in 1989. He joined Pharma-Deko Plc as its Managing Director on the 4th of August, 2008. Before joining the Company, Mr. Abibu had worked in the Nestle Group for sixteen years during which he rose to become the Managing Director of Nestle Guinea for four years which also oversees the operations in Sierra Leone, Liberia and Guinea Bissau. He has vast experience in Industrial Engineering, Project Management, International Supply Chain and Commercial Management.

PROFESSOR H.A.B. COKER – NON-EXECUTIVE DIRECTOR Professor Herbert A. B. Coker is a Professor of Pharmaceutical Chemistry in the Faculty of Pharmacy, University of Lagos. He joined the then School of Pharmacy on 17th December 1984 as Lecturer I and rose through the ranks to the post of Professor in October 1994. Professor Coker teaches Undergraduate and Postgraduate courses as well as conducting research in Medicinal Chemistry, Clinical Pharmacology of Drugs, Natural Products Sciences, Drug Design and Development, Pharmaceuticals & Food Quality Assurance, Environmental Concerns and Clinical Pharmacy. Professor Coker has published quite a number of research works and professional opinions, in International (offshore) and National (onshore) Journals. He also renders professional services to the Federal Government of Nigeria and Lagos State Government, as well as to foreign establishments in China, Indonesia, and India. He is a member of numerous professional bodies and possesses about 30 years experience in Pharmacy and health-related matters. Professor Coker had his early education at LadiLak Institute, Yaba (under the watchful eyes of the late Mrs. Rita Akaje-Macaulay; nee Hamilton), Lagos Baptist Academy, lbadan Grammar School, Ahmadu Bello University and the University of Strathclyde in Glasgow, United Kingdom. He has recently been appointed to the Board of Directors of Pharma Deko to assist with Product Quality Assurance, Pharmaceutical Technology and New Products Development amongst many other health related issues.

MR. GODWIN A. ALEGIEUNO – NON-EXECUTIVE DIRECTOR Mr. Alegieuno is a Chartered Accountant and an Insurance Practitioner. He is a fellow of the Chartered Association of Certified Accountants, Institute of Chartered Accountants of Nigeria and also a Chartered Insurer. He obtained an Ordinary National Diploma (OND) in 1973 and a Higher National Diploma (HND) in 1975 both in Accountancy from the College of Technology, Yaba. He also obtained a Post Graduate Diploma in Finance from the University of Leicester, United Kingdom in 2003. He has vast experience in Commerce, Industry and Insurance. He retired as the Managing Director of Lion of Africa Insurance Company Limited. He joined the Board of Directors of Pharma Deko Plc in 1994.

Mr. COLLINS C. CHIKELUBA – NON-EXECUTIVE DIRECTOR Mr. Chikeluba is a Lawyer, businessman and philanthropist with business interest in Nigeria, Europe, America and Asia. He graduated with a B.Sc. (Hons) in Business Administration (Major in Management Science and Minor in Marketing) from Fontbone University, St. Louis, U.S.A in 1983. Mr. Chikeluba obtained a Masters degree in Finance from the Webster University, USA in 1984 and a Juris Doctoris from St. Louis University, School of Law, USA in 1987. He was called to the Nigerian Bar in 1988. His business interests span across various sectors of the economy including Transportation, Insurance, Oil and Gas, Banking, Manufacturing and Real Estate. He holds Board appointments in several companies including ASO Savings & Loans Plc, Staco Insurance Plc, SET Plc, and Duport-Marine Limited. He is currently a Non- Executive Director of the Central Bank of Nigeria (CBN).

10 DIRECTORS PROFILE - CONT’D

MR. STEVE U. OSAI – NON-EXECUTIVE DIRECTOR Mr. Steve Osai is a Chartered Accountant and the immediate past Managing Director of Pharma Deko Plc. He graduated with a B.Sc. (Hons) in Business Administration from the University of Lagos in 1976. He joined the Company from Coopers and Lybrand as a Financial Accountant. He supervised the Company's transition from a sales affiliate of Warner-Lambert Inc./Parke-Davis Inc. (USA) to a fully integrated manufacturing company. He was appointed to the Board in 1984 and was at various times responsible for the financial, administrative, personnel and marketing functions of the Company. Mr. Osai became a Non Executive Director of the Company in 2008.

MR. KOLAPO A. LAWSON – NON-EXECUTIVE DIRECTOR Mr. Kolapo Lawson is a Chartered Accountant and business tycoon. He graduated with a B.Sc. (Hons) in Economics from the London School of Economics and Political Science in 1972. He joined the International Accountancy Firm of Coopers and Lybrand, London (now part of PriceWaterHouse Coopers) where he qualified as a Chartered Accountant in 1975. He is a fellow of the Institute of Chartered Accountants (England & Wales) and Nigeria. He is the President of Lawson Corporation and Chairman, Agbara Estate Limited. Mr. Kolapo Lawson was the Chairman of Ecobank Transnational Incorporated and holds Board appointments in many other companies. He joined the Board of Directors in 1993.

CHIEF JOE O. ANYIGBO – NON-EXECUTIVE DIRECTOR Chief Anyigbo is an Engineer and business man. He has over 30 years extensive experience in all sectors of the Oil and Gas Industry. He is a fellow of Nigerian Society of Chemical Engineers, a member of the Board of Trustees of Nigeria Society of Chemical Engineers and a recipient of National Productivity Order of Merit Award. He retired in 2002 from Chevron Nigeria Limited as a Pioneer Executive Director. Chief Anyigbo graduated with a B.Sc. (Hons) in Chemical Engineering from Lafayette College, Pennsylvania, U.S.A in 1967. He obtained Masters of Science from Carnegie-Mellon University in 1969 and a Masters degree in Business Administration (MBA) from the University of Pittsburgh, U.S.A in 1971. He joined the Board of Directors in 2006.

ALHAJI BALA A. ZAKARIYA'U – NON-EXECUTIVE DIRECTOR Alhaji Bala Zakariya'u is a fellow of Chartered Insurers of Nigeria and Nigeria institute of Management. He is also a fellow of the National Institute of Marketing of Nigeria. Alhaji Zakariya'u obtained a National Diploma in Insurance from Ahmadu Bello University, Zaria in 1976. He obtained a Masters degree in Business Administration (MBA) in 1992 and completed an Advanced Management Programme from the Lagos Business School in 1995. He was one time President elect, Lagos Business School (AMP4) and a member of the Governing Council (LBSAA) Alumni Association from 1999 to date. He served as the President, Charted Institute of Insurers Nigeria between 2003 and 2004. Alhaji Bala Zakariya'u served as a Managing Director of Afribank Nigeria Plc. He served as a Director of Afribank Nigeria Plc from May 8, 2005 to July 18, 2011. He has been the Chairman of Niger Insurance Plc since January,2006.

MR. ISAAC OLUWADARE BAJULAYE – EXECUTIVE DIRECTOR Mr. Bajulaye is the Superintendent Pharmacist/Head of Pharma Production of Pharma Deko Plc. He obtained a Degree in Pharmacy from the University of Ibadan in 1986 and also holds a Masters in Business Administration with specialisation in Production System and Management from Ambrose Alli University, Ekpoma in 2004. He has experience spanning over 20 years in dealing with Pharmaceutical products and Manufacturing. An Associate member of the Nigerian Institute of Management (Chartered), he was appointed as an Executive Director of the Company on 27th October, 2011.

11 REPORT OF THE DIRECTORS

In accordance with the provisions of the Companies and Allied Matters Act, Cap C20 LFN 2007, the Directors are pleased to present their report on the affairs of Pharma Deko Plc together with the audited financial statements of the company and auditors' report for the year ended 31st December, 2014.

1) LEGAL FORM Pharma Deko Plc started business in Nigeria in1962 under the name Parke-Davis & Company (US) operating a non-trading branch in Nigeria to promote its range of Quality Pharmaceutical products. The Company was incorporated as a private limited liability company in 1967 as PARKE-DAVIS & Co (NIG.) LTD. Prior to this, the company imported and distributed its product using appointed agents. In 1977, the company took over the importation and distribution of its products. In 1980, the Company changed its name to PHARMA DEKO LIMITED, and in pursuance of the Companies and Allied Matters Decree of 1990, is now known as PHARMA DEKO PLC to date. Pharma Deko became the first pharmaceutical company in Nigeria to be ISO Certified in 1999 and is today a leader in the Nigerian pharmaceutical and beverages industry.

2) PRINCIPAL ACTIVITIES The company is principally engaged in the manufacturing and marketing of Pharmaceutical and Consumer Products.

3) OPERATING RESULTS Current Prior Year N'000 N'000 Turnover 1,566,190 1,060,308 Profit before Taxation 150,171 (127,993) Taxation (49,164) 6,811 Profit after Taxation 101,007 (121,182) Issued Share Capital 50,000 50,000 Total Equity 931,204 830,197 Total Non-Current Liabilities 116,089 99,593 Total Current Liabilities 1,791,935 1,568,346 Total Equity and Liabilities 2,839,229 2,498,136 Per Share Data Based on 100,000,000 (2012: 99,518,000) Ordinary Share of 50k each. Earnings/(Loss) per Share-Kobo 101 (121) Net Assets/(Liabilities) per Share-Kobo 931 830 4) DIRECTORS The names of the Directors as at the date of this Report and those who have held office during the r e f e r e n c e d year are as follows: Mr. Folarin R.A. Williams Re-appointed on 6th June 2012 Mr. Adekunle Abibu Appointed on 4th August 2008 Mr. Collins C. Chikeluba Re-appointed on 13th July 2011 Mr. Godwin A. Alegieuno Re-appointed on 25th April 2013 Mr. Steve U. Osai Re-appointed on 6th June 2012 Mr. Kolapo A. Lawson Re-appointed on 13th July 2011 Mr. Joe O. Anyigbo Re-appointed on 25th April 2013 Alhaji Bala Zakariyau Re-appointed on 25th April 2013 Mr. Isaac Bajulaiye Appointed on 27th October 2011 Professor H.A.B. Coker Appointed on 14th May 2014 Messrs. F.R.A Williams (Jnr), S.U Osai and Professor H.A.B Coker will retire by rotation from the Board of Directors at the 45th Annual General Meeting and being eligible have offered themselves for re-election. CHANGES ON THE BOARD Since the conclusion of the Last Annual General Meeting, there have been changes with respect to the Board Members. Mr. Issac Bajulaye resigned from the Board on 19th February, 2015. Professor H.A.B. Coker has since been appointed to the Board since the 14th May, 2014. Further, Chief J.O Anyigbo turned 70 in the course of the year.

12 REPORT OF THE DIRECTORS - CONT’D

DIRECTORS' RESPONSIBILITIES The Directors are responsible for the preparation and fair presentation of these financial statements in accordance with the Companies and Allied Matters Act, CAP C20, LFN 2007.This responsibility includes: Designing, implementation and maintaining internal control relevant to the preparation and fair presentations of financial statements that is free from material misstatement, whether due to fraud or error, selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. In doing so, they ensure that: - Proper accounting records are maintained; - Internal control procedures are instituted which, as far as is reasonably possible safeguard the asset, prevent & detect fraud and other irregularities; - Applicable accounting standards are followed; and - Suitable accounting policies are adopted and consistently applied. DIRECTORS' INTEREST The interest of the Directors in the Share Capital as recorded in the Register of members and/or as notified by them for purposes of section 276 of the Companies Allied Matters Act 2007 as at 31st December, 2014 is as follows: DIRECTORS' DIRECT AND INDIRECT HOLDINGS: Numbers of Ordinary Shares of 50k Held as at 31st December, 2014 Direct Holding Indirect Holding Mr. F.R.A. Williams 1,927,057 20,957,200 (Indirect holding through United Investment Limited) Mr. J. A. Abibu 431,122 - Mr. C.C. Chikeluba 7,032,558 - Mr. K. A. Lawson 300,000 - Mr. S. U. Osai 4,908,531 - Mr. G. Alegieuno 200,000 - Alhaji B. Zakariyau - 4,779,240 (Indirect holding through Niger Insurance Plc) Chief J. O. Anyigbo 1,000,000 - Professor H.A.B Coker - -

5) ANALYSIS OF SHAREHOLDING The issued and fully paid-up share capital of the company is N50,000,000 divided into 100,000,000 ordinary shares of 50k each. All this shares equivalent to 100 per cent are held by Nigerian as at 31 December 2014.

RANGE TOTAL % OF TOTAL SHARE % OF SHAREHOLDERS HOLDERS HOLDINGS SHAREHOLDINGS 1 1,000 1,713 51.13% 807,748 0.81% 1,001 5,000 997 29.76% 2,474,305 2.47% 5,001 10,000 249 7.43% 1,967,033 1.97% 10,001 50,000 283 8.45% 6,282,434 6.28% 50,001 100,000 48 1.43% 3,835,985 3.84% 100,001 1,000,000 44 1.31% 13,220,488 13.22% 1,000,001 5,000,000 12 0.36% 27,451,348 27.45% 5,000,001 10,000,000 2 0.06% 12,960,939 12.96% 10,000,001 9,999,999,999 2 0.06% 30,999,720 31.00% Grand Total 3,350 100% 100,000,000 100%

6) SUBSTANTIAL SHAREHOLDERS According to the Register of Members, the following shareholders of the company held more than 5 per cent of the issued share capital of the company on 31 December 2014 NAME OF SHAREHOLDERS WITH TOTAL PERCENTAGE 5% AND ABOVE SHAREHOLDING HOLDING CHAPELHILL NOMINEE 5,928,381 5.93 MR. C.C. CHIKELUBA 7,032,558 7.03 SHORELINE POWER COMPANY LTD 9,442,520 9.44 UNITED INVESTMENT LIMITED 20,957,200 20.96 No other shareholders held more than 5% share capital within the year under review.

13 REPORT OF THE DIRECTORS - CONT’D

7) SHARE CAPITAL HISTORY Date Authorised Share Capital Issued and Fully Paid Consideration From Increase Cumulative Increase Cumulative =N= =N= =N= =N= =N= 1968 1,000 1,000 1,000 Cash 1978 1,000 3,551,000 3,552,000 3,551,000 3,552,000 Scrip 1978 3,552,000 1,448,000 5,000,000 1,448,000 5,000,000 Scrip 1986 5,000,000 15,000,000 20,000,000 15,000,000 20,000,000 Scrip 1997 20,000,000 30,000,000 50,000,000 30,000,000 50,000,000 Scrip 2008 50,000,000 100,000,000 150,000,000 19,759,000 150,000,000 -

8) DONATIONS AND CHARITY GIFTS During the year under review the Company donated products to Primary Health Care Centres and General Hospitals. 9) RESEARCH AND DEVELOPMENT A well coordinated program of products research and development is continually carried out to ensure that our products meet our customer's expectation and that new products are developed. Close liaison is maintained with research institution, Universities and professional bodies at local, regional and international levels. 10) COMPANY'S DISTRIBUTORS The following served as distributors of the company during the year 1. 1ST PRECIOUS VIN LTD LAGOS STATE 2. 6TH CONCEPT SERV. MANAGERS LTD LAGOS STATE 3. ABIDEMCO INTERNATIONAL LTD IBADAN, . 4. ABUJA CENTRAL MEDICAL STORE ABUJA 5. ABUJA CLINICS ABUJA 6. ADDIDE LIMITED LAGOS STATE 7. ADDISON PHARMACY (TONAY PX) UYO, 8. ADDMORE PHARMACY LAGOS STATE 9. ADEYINLOLA HOSPITAL ABUJA 10. ADIBE PHARM LTD LAGOS STATE. 11. ADINOYI & SONS 12. ADIS INTERGRATED LIMITED IBADAN, OYO STATE 13. ADLAB GLOBAL CONCEPT 14. ADONAI INVESTMENT LTD LAGOS STATE 15. AHMED DELIGHTFUL LIMITED MINNA, 16. AIJAY-KINGS ENT. 17. AISHA ABUBAKAR ZAILANI 18. Al-MUBARAK STORE LAGOS STATE 19. Alafia Hospital IBADAN, OYO STATE 20. ALEXCO PHARMACY KANO STATE 21. ALHAJI BALA ABUJA 22. ALH USMAN INVESTMENT 23. ALH. IBRAHIM MIKAILE S.O & SONS 24. ALHAJI ABDULLAHI YARO KANO STATE 25. ALHAJI DALHA GARBA KANO STATE 26. ALHAJI SAMINU SALIHU KANO STATE 27. AMINGO VENTURE JALINGO, 8. AUSTIN OLA PHARMACY ONITSHA, 29. AYI Ventures KADUNA STATE 30. AYO DAVE NIG.LTD. LAGOS STATE 31. AYO TRADE NIGERIA LTD LAGOS STATE 32. BAJAJ NIG. LTD KANO STATE 33. BENGIL INT'L LTD LAGOS STATE 34. BENPAT-ELYBEN (NIG.) LTD. LAGOS STATE 35. BICON PHARMACY. LAGOS STATE 36. BINTA'S ENT. LAGOS STATE 37. BISI OKUNLOLA NIG. ENT. IBADAN, OYO STATE 38. BLESSED IFANYI INTERNATIONAL OWERRI, IMO STATE 39. BOLANLE OLUSANYA ENTERPRISES OGUN STATE 40. BOWEN UNIV. TEACHING HOSP. OGBOMOSO, OYO STATE 41. C.C OZOEMENA & CO JOS, 42. CANACO ONITSHA, ANAMBRA 43. CATHOLIC HOSPITAL OKE OFA IBADAN, OYO STATE 44. CEE CEE INVESTMENT LAGOS STATE 45. CHARITY COMM. STORES LAGOS STATE 46. CHARLIYMEN STORE LAGOS STATE 47. CITISERVE (LAGOS) LAGOS STATE 14 REPORT OF THE DIRECTORS - CONT’D

48. CLINIC URBANE DENTAL CENTRE ABUJA 49. D' SUNNY BEST VENTURES LTD ABUJA 50. DABAK PHARMACY & STORES OGUN STATE 51. DARA MEDICAL CENTRE ABUJA 52. DE-UGO MARKETING AGENCY ZARIA 53. DE-VASCO & SON 54. DECCO PHARMACY&STORES LTD OGUN STATE 55. DE TASTEE FRIED CHICKEN LAGOS STATE 56. DIVINE FRUIT PHARMACY ONITSHA, ANAMBRA STATE 57. DIVINE TREASURE FIELD LTD ONITSHA, ANAMBRA STATE 58. UNIV. TEACH. HOSP. ADO-EKITI, EKITI STATE 59. EXCELL SERVICES PORT HARCOURT, 60. F. R. WILLIAMS (JNR.) LAGOS STATE 61. FEDERAL CIVIL SERVICE CLUB LAGOS STATE 62. FEDERAL STAFF HOSP. ABUJA 63. FIAKPIKE PHARM LAGOS STATE 64. FOKLAD HASS NIG. LTD. ILORIN, 65. FOLA OSENI NIG. ONDO STATE 66. FORTUNE HOSP. & DENTAL CENTRE IBADAN, OYO STATE 67. FUNKET PHARMACY LAGOS STATE 68. FUNLAD-T INVESTMENT LAGOS STATE 69. GARKI HOSPITAL ABUJA 70. GLOBAL MARKETING UMUAHIA, 71. GLOBAL YOUNG PHARMA LTD IBADAN, OYO STATE 72. GOD SEAL VENTURES ABA, ABIA STATE 73. GONAKO INVESTMENT ABUJA 74. GOODALL PHARMACY OYO STATE 75. GOODIES STORE LAGOS STATE 76. GOSHEN STORE LAGOS STATE 77. GRACE & MERCY VENTURES AKURE, ONDO STATE 78. Group Medical Hospital IBADAN, OYO STATE 79. HAMSTORE LTD 80. IJ PHILAS SUPERMARKET LAGOS STATE 81. IKOYI CLUB 1938 LAGOS STATE 82. INFINITE-MERCY PHARMA LAGOS STATE 83. INTRAqc COMPANY & ALLIED LTD ABUJA 84. IRAWO ENTERPRISES , 85. JENKAT VENTURES ILORIN, KWARA STATE 86. JOESSY AUTO SUPPLY NIG. AKWA IBOM STATE 87. JUSTRITE SUPERMARKET OGUN STATE 88. KELINA HOSPITAL ABUJA 89. KLEN PHARMACY ABUJA 90. KONGA LAGOS STATE 91. LADOKE AKINTOLA TEACH. HOSP. OWO, ONDO STATE 92. LAGOS AIRPORT HOTEL LTD LAGOS STATE 93. LAGOS COUNTRY CLUB 1 LAGOS STATE 94. LAMAS INTERNATIONAL ILORIN, KWARA STATE 95. LAMB OF GOD PHARMA LAFIA, NASARAWA STATE. 96. LANVIK INTEGRATED LAGOS STATE 97. LARRI O NIG. ENT LAGOS STATE 98. LIFEMED PHARMACY LAGOS STATE 99. LINA PHARMACY ONITSHA, ANAMBRA STATE 100. LOLA PHARMACY LAGOS STATE 101. Mabro Pharmacy Ltd KADUNA STATE 102. MAC-VIC ABUJA 103. Mahabub kassim KANO STATE 104. MAJAD KANO STATE 105. MANDO PHARMACY AND STORES LTD AKURE, ONDO STATE 106. MARV-DAMMY GLOBAL RESOURCES IBADAN, OYO STATE 107. MASSAM HEALTH CLINIC ABUJA 108. MEGA PLAZA SUPERMARKET LAGOS STATE 109. MICKEY JO VENTURES NIG LTD LAGOS STATE 110. MONTANBODE INT. NIG. LTD. LOKOJA, 111. MORAY PHARMACY LAGOS STATE 112. MRS THERESA OBI ABA, ABIA STATE 113. MULTIVARIATE CORPORATE STORES OSUN STATE 114. MYKENA PHARMA & HEALTH CARE LAGOS STATE 115. NATIONAL HOSPITAL ABUJA 116. NBJ NIGERIA LIMITED LAGOS STATE 117. NEPON BEST GLOBAL SERVICE NIGER STATE 118. NESTLE NIGERIA PLC OGUN STATE 119. NEW HEALTH PHARMACY ABUJA 120. NEW HEIGTS PHARMACEUTICAL LAGOS STATE 121. NICE VENTURES OSHOGBO, OSUN STATE 122. NIG GERMAN CHEM. LAGOS STATE 123. NWAFOR PHARMACY KADUNA STATE 124. OBI & BONNY TRADING COMPANY ABA, ABIA STATE 126. OBIEKEZIE PRUDENCE IFEYINWA ONITSHA, ANAMBRA STATE

15 REPORT OF THE DIRECTORS - CONT’D

127. Od Chrison Nig Ltd. JOS, PLATEAU STATE 128. OKOBIZ VENTURES LTD YOLA, 129. OLABISI ONABANJO UNIV. TEACH. HOSP. SAGAMU, OGUN STATE 130. OLILI PHARMACY LTD WARRI, 131. OLIVE HEIGHT PHARMACY LAGOS STATE 132. OLURANTI OLUBI IBADAN, OYO STATE 133. OMED PHARMACY ONITSHA, ANAMBRA STATE 134. ONI AND SON HOSPITAL IBADAN, OYO STATE 135. ONYEMA GEN. ENT. 136. OWOYEMI SUPER STORES OGUN STATE 137. OZONE F&L TRADING CO. LTD LAGOS STATE 138. PETER HOPE PHARMACY KADUNA STATE 139. PINCO PHARMACY ABA, ABIA STATE 140. PROLEK LIMITED COMPANY IBADAN, OYO STATE 141. R.L UPRIGHT WAY LAGOS STATE 142. RAMSGATE PHARMA OGUN STATE 143. RAY CHOICE INVESTMENT LAGOS STATE 144. RED MARK INT`L LAGOS STATE 145. RON-LOLL VENTURES LAGOS STATE 146. ROPHE HOSPITAL OGUN STATE 147. ROYAL ASCEND PHARMACY IBADAN, OYO STATE. 148. RUFUS HOLDINGS JOS, PLATEAU STATE 149. SANEG NIG LTD LAGOS STATE 150. SANTE BENE PHARMACY & STORES ABUJA 151. SANTUS PHARMACY LAGOS STATE 152. SC. OKONKWO JOS, PLATEAU STATE 153. SEASHORE HOSPITAL RIVERS STATE 154. SHAMBAQ GLOBAL MUTLI VENTURE OYO STATE 155. SKOB GLOBAL INVESTMENT LAGOS STATE 156. SKY VENTURES NIG. LTD OGUN STATE 157. SOOD AND JINS NIG LTD LAGOS STATE 158. SPLASH SUPER STORE KASTINA STATE 159. ST LUKE PHARMACY ONITSHA, ANAMBRA STATE. 160. STEAM PHARMACY LAGOS STATE 161. SUFAYE .S AHMED ENT. KANO STATE 162. SULET STORES LAGOS STATE 163. SUNCELL PHARMACY ABUJA 164. TANIMOLA PHARMACY STORES IBADAN, OYO STATE 165. TECHNO PHARMACEUTICALS ANAMBRA STATE 166. TEETO MODEL STORE IBADAN, OYO STATE 167. TESSAC NIGERIA LTD ADO-EKITI, EKITI STATE 168. TESSY ROYAL FOODS ENT. DELTA STATE 169. THONNY PHARMACY KADUNA STATE 170. TOBE-KLEN PHARMACY ABUJA 171. TOBEST HEALTHCARE PHARMACY SULEJA, NIGER STATE 172. TONIK PHARMACY IBADAN, OYO STATE 173. TONY PHARMACY KANO STATE 174. TRIPP MART(AN OANDO BRAND) LAGOS STATE 175. USMAN ABUBAKAR KADUNA STATE 176. VINEDELIA VENTURES LTD. LAGOS STATE 177. WASTILBAY NIG. LTD. IBADAN, OYO STATE 178. YANKEE PHARMACY LAGOS STATE 179. YINIKAWA ENTERPRISES LTD. IBADAN, OYO STATE 180. YUS BOL ENGINEERING SERVICES KADUNA STATE

11) SUPPLIERS The company's main overseas suppliers are: a) TRADE NIGER IMPEX PVT. LTD. b) NIPRA INDUSTRIES PVT. LTD. c) BRENNTAG EXPORT d) HELM AG e) NANJING LIGHT INDUSTRIES MACHINERY WORKS (CHINA) f) YORK INTERNATIONAL, SOUTH AFRICA.

The Main Local Suppliers are: a) GZ INDUSTRIES b) B.O.C GASES NIGERIA LTD. c) BMS INTERNATIONAL RESOURCES LTD. d) EAGLE PACKAGING PRINTING LTD. e) NAGODE INDUSTRIES LIMITED f) GLOBAL STERLING PRODUCTS LIMITED g) KOSEDAT INDUSTRIES LIMITED h) ROTOPRINT LIMITED i) KARAMU PLASTIC INDUSTRY LTD. j) WAHUM PACKAGING LIMITED k) WONDERFUL PUBLISHING PRESS l) SOLAK PRODUCTIONS LTD. m) PROVIDENCE ASSOCIATED INDUSTRIAL LTD. The company is not in any way related to any of its suppliers or customers.

16 REPORT OF THE DIRECTORS - CONT’D

12) ACQUISITION OF OWN SHARES The company did not purchase its own share during the year.

13) EMPLOYMENT AND EMPLOYEES (i) Employment of disabled persons: The company has no disabled employee, but would give full and fair considerations to applications for employment by disabled persons, having regard to their particular aptitude and abilities. Once employed, training, promotion and career development of such person would follow a similar pattern to those adopted for other able-bodied employee.

(ii) Health Safety and Welfare: The company runs and maintains in-house clinic, complemented by free medical service at designated hospital and medical retainership for employees during and after office hours. Safety regulations are conspicuously displayed at the company's premises and are strictly enforced, protective clothing is provided as appropriate. Welfare facilities such as subsidized canteen/meals, availability of laundry facilities and uniforms, maternity benefit, housing and transport allowance and personal loans are provided as appropriate for employees.

(iii) Employee Development and Training Management and technical expertise are the company's major assets. Therefore, investments in developing relevant skills are undertaken to fortify employees' abilities. The company recognizes in-house and external training for members of staff.

14) CORPORATE GOVERNANCE Regular interaction between the board and the executives is encouraged. Management is invited as required, to make presentations to the Board on material issues under considerations. Directors are provided with unrestricted access to the company's management and information, as well as the resources required to carry out their responsibilities. The Board is responsible for the corporate governance of the company. The Directors are responsible for keeping proper accounting records which it discloses with reasonable accuracy at any time, the financial status of the company and ensures that the account comply with the Companies and Allied Matter Act of 2007. They are responsible for safeguarding the assets of the company by taking reasonable steps for prevention, detection of fraud and other irregularities. During the year under review, the company was managed by Nine (9) members of the Board of Directors consisting of Seven Non-Executive Directors and Two Executive Directors which includes the Managing Director. The Company has established a Securities Trading Policy which is applicable to all its employees and Directors. In relation to Securities transaction by the Directors, the Company has adopted a Code of Conduct in line with the Nigerian Stock Exchange Amended Listing Rules. The Directors upon specific enquiry confirm that they have complied with the standard set out in the listing rules and the Companies Code of Conduct regarding securities transaction by the Directors.

15) RECORDS OF DIRECTORS ATTENDANCE Further to the provision of section 258(2) of the Companies and Allied Matter Act, Cap C20, Law of the Federation of Nigeria, 2007, the Record of Directors attendance at Board Meeting during the year under review is available at the Annual General Meeting for inspection. In the year under review, there were five Board of Directors' Meetings, five Audit Committee Meetings, two Finance and General Purpose Board Committee Meetings, two Finance and Human Resources Board Committee Meetings, three Risk Management Board Committee Meetings and five Science and Technical Board Committee Meetings. In line with Corporate Governance principles, details of attendance of the Directors at the various Board Meetings are set out below:

ATTENDANCE RECORD FOR BOARD MEETINGS NAME OF TOTAL NO. NO. OF MEETINGS ATTENDED S/N MEMBERS OF MEETINGS 1ST 2ND 3RD 4TH 5TH ATTENDED MEETING MEETING MEETING MEETING MEETING IN 2014 29/01/2014 25/03/2014 14/05/2014 24/06/2014 10/11/2014 1 Mr. F.R.A. WILLIAMS 5 1 1 1 1 1 2 ALHAJI B. ZAKARIYAU 5 1 1 1 1 1 3 MR. S. U. OSAI 5 1 1 1 1 1 4 MR. C.C.CHIKELUBA 5 1 1 1 1 1 5 MR. K. LAWSON 3 1 1 - - 1 6 CHIEF J.O. ANYIGBO 3 1 1 - - 1 7 MR. J.A. ABIBU 5 1 1 1 1 1 8 MR. I.O BAJULAYE 3 1 1 1 - - 9 MR. G.A. ALEGIEUNO 5 1 1 1 1 1 10 PROFESSOR H.A.B COKER 2 - - - 1 1

17 REPORT OF THE DIRECTORS - CONT’D

ATTENDANCE RECORD FOR AUDIT COMMITTEE MEETINGS S/N NAME OF TOTAL NO. NO. OF MEETINGS ATTENDED MEMBERS OF MEETINGS 1ST 2ND 3RD 4TH 5TH ATTENDED MEETING MEETING MEETING MEETING MEETING IN 2014 16/01/2014 11/03/2014 06/05/2014 16/09/2014 31/10/2014 1 CHIEF. J.O. EHICHIOYA 4 1 1 1 APOLOGY 1 2 MR. G.A. ALEGIEUNO 5 1 1 1 1 1 3 MR. C.C. CHIKELUBA 5 1 1 1 1 1 4 MR. S.U. OSAI 5 1 1 1 1 1 5 MR K.A SAKA 5 1 1 1 1 1 6 MRS. O.T. ASSAN 5 1 1 1 1 1

ATTENDANCE RECORDS FOR FINANCE AND HUMAN RESOURCES BOARD COMMITTEE MEETINGS S/N NAMES OF MEMBERS TOTAL NO. OF MEETINGS 1ST MEETING 2ND MEETING 3RD MEETING ATTENDED IN 2014 21/10/2014 04/11/2014 07/11/2014 1. MR. F.R.A. WILLIAMS 3 1 1 1 2. MR. C.C. CHIKELUBA 3 1 1 1 3. MR. G.A. ALEGIEUNO 3 1 1 1

ATTENDANCE RECORDS FOR FINANCE AND GENERAL PURPOSE BOARD COMMITTEE MEETINGS S/N NAMES OF MEMBERS TOTAL NO. OF MEETINGS 1ST MEETING 2ND MEETING ATTENDED IN 2014 22/01/2014 13/05/2014 1 MR.F.R.A. WILLIAMS 2 1 1 2 MR. J.A. ABIBU 2 1 1 3 ALHAJI B. ZAKARIYAU 2 1 1 4 CHIEF J.O. ANYIGBO 1 1 APOLOGY

ATTENDANCE FOR RISK MANAGEMENT BOARD COMMITTEE MEETINGS S/N NAMES OF MEMBERS TOTAL NO. OF MEETINGS 1ST MEETING 2ND MEETING 3RD MEETING ATTENDED IN 2014 23/01/2014 30/04/2014 17/09/2014 1 MR. K. LAWSON 3 1 1 1 2 MR. G.A. ALEGIEUNO 2 1 1 - 3 MR. S. U. OSAI 2 1 1 - 4 CHIEF J.O. ANYIGBO - - - APOLOGY 5 MR. I.O. BAJULAYE 2 1 1 - 6 ALHAJI B. ZAKARIYAU 1 - - 1

ATTENDANCE FOR SCIENCE AND TECHNICAL BOARD COMMITTEE MEETINGS S/N NAME OF TOTAL NO. NO. OF MEETINGS ATTENDED MEMBERS OF MEETINGS 1ST 2ND 3RD 4TH ATTENDED MEETING MEETING MEETING MEETING IN 2014 18/07/2014 22/08/2014 10/09/2014 24/10/2014 1 MR. F.R.A. WILLIAMS 4 1 1 1 1 2 MR. J.A. ABIBU 4 1 1 1 1 3 MR. I.O. BAJULAYE 4 1 1 1 1 4 MR. S.U. OSAI 4 1 1 1 1 5 PROFESSOR H.A.B. COKER 4 1 1 1 1

16. AUDITORS The Auditors, Messrs SIAO (Chartered Accountants) have indicated their willingness to continue in office. A resolution will be proposed authorizing the Directors to determine their remuneration. BY ORDER OF THE BOARD

SOLOMON OSAKWE FRC/2015/NBA/00000011417 FOR: UNITY TRUSTEES LIMITED COMPANY SECRETARY

18 REPORT OF THE AUDIT COMMITTEE

In compliance with section 359(6) of the Companies and Allied matters Act CAP C20 LFN 2007, we confirm that we have reviewed the Audited Reports for the year ended 31st December, 2014 and hereby state as follows:

1. The scope and planning of the Audit were adequate in our opinion.

2. The Accounting and reporting policies of the company conform with statutory requirements and agreed ethical practices.

3. The internal control was being constantly and effectively monitored.

4. We have received the Auditor's finding on management matters and are satisfied with the departmental responses thereon.

Dated this 16th day of March, 2015

MR. K.A. SAKA FRC/2015/NIM/00000011491 Chairman, Audit Committee

MEMBERS OF THE AUDIT COMMITTEE

Mr. K.A Saka - Shareholder

Chief J. O. Ehichioya - Shareholder

Mrs. O. T. Assan - Shareholder

Mr. G. A. Alegieuno - Director

Mr. C. C. Chikeluba - Director

Mr. S. U. Osai - Director

19 STATEMENT OF DIRECTORS’ RESPONSIBILITIES

The Companies and Allied Matters Act CAP C20, LFN 2007 and the Financial Reporting Council of Nigeria Act No 6, 2011 require the directors to prepare financial statements for each financial year that give a true and fair view of the state of financial affairs of the company at the end of the year and of its profit or loss. The responsibilities include ensuring that the company:

(a) Keeps proper accounting records that disclose, with reasonable accuracy, the financial position of the company and comply with the requirement of the Companies and Allied Matters CAP C20, LFN 2007 and the Financial Reporting Council of Nigeria Act No 6, 2011;

(b) Establishes adequate internal controls to safeguard its assets and to prevent and detect fraud and other irregularities; and

(c) Prepares its financial statements using suitable accounting policies supported by reasonable and prudent judgments and estimates, and are consistently applied.

The Directors accept responsibility for the annual financial statements which have been prepared using appropriate accounting policies supported by reasonable and prudent judgment and estimates, in conformity with the International Financial Reporting Standards (IFRSs) as adopted by the Financial Reporting Council of Nigeria (FRCN) and the requirements of the Companies and Allied Matters Act CAP C20 LFN 2007.

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 for the year ended 31 December 2014. 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 system of internal 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.

------J. A. Abibu – Managing Director K. A. Lawson - Director FRC/2015/IODN/00000011374 FRC/2013/ICAN/00000004354

20 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF PHARMA-DEKO PLC

Report on the Financial Statements We have audited the accompanying financial statements of PHARMA DEKO Plc for the year ended 31st December 2014, set out on pages 22 to 25 which have been prepared on the basis of the significant accounting policies on pages 26 to 34 and other explanatory notes on pages 35 to 57.

Directors’ Responsibility for the Financial Statements The Directors are responsible for the preparation and fair presentation of these financial statements in accordance with the Companies and Allied Matters Act CAP C20 LFN 2007 and the Financial Reporting Council of Nigeria Act No.6, 2011. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Auditors’ Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Nigerian standard on Auditing issued by the Institute of Chartered Accountants of Nigeria (ICAN) and International Standards on Auditing issued by the International Federation of Accountants (IFAC). Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance as to whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgments, 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 control 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 management, 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 Company has kept proper accounting records and the financial statements are in agreement with the records in all material respects and give in the prescribed manner, information required by the Companies and Allied Matters Act CAP C20 LFN 2007. The financial statements give a true and fair view of the financial position of PHARMA DEKO PLC as at 31st December 2014 and of its financial performance and its Cash flows for the year then ended in accordance with the International Financial Reporting Standards (IFRSs) as adopted by the Financial Reporting Council of Nigeria (FRCN).

…………………………………………… Joshua Ansa FRC/2013/ICAN/00000001728 For: SIAO (Chartered Accountant)

Chartered Accountants Lagos, Nigeria

Date: 30/03/2015

21 STATEMENT OF FINANCIAL POSITION

2014 2013 Non - Current Assets Notes N'000 N'000 Property, Plant and Equipment 7 2,000,586 2,020,263 Total Non Current Assets 2,000,586 2,020,263

Current Assets Inventories 8 212,582 231,584 Trade Receivables 9 103,081 99,321 Other Receivables and Prepayment 10 158,783 96,698 Cash and bank balances 11 364,196 50,269 Total Current Assets 838,643 477,873 Total Assets 2,839,229 2,498,136

Equity and Liabilities Share Capital 12.1 50,000 50,000 Share Premium 12.2 243,766 243,766 Revaluation Reserve 12.3 1,434,607 1,434,607 Retained Earnings 12.4 (797,169) (898,176) Total Equity 931,204 830,197

Non Current Liabilities Employee Benefits 13.1 53,396 75,191 Deferred Tax Liability 18.2 62,693 24,402 Total Non Current Liabilities 116,089 99,593

Current Liabilities Loans and Borrowings 14 884,203 798,750 Trade Payables 15 252,759 270,265 Other Payables 16 643,215 462,474 Taxation - Income Tax 18.1 11,758 36,857 Total Current Liabilities 1,791,935 1,568,346 Total Liabilities 1,908,024 1,667,939

Total Equity and Liabilities 2,839,229 2,498,136

Signed on behalf of the Board of Directors on 12th March, 2015 by :

______J. A. Abibu - Managing Director K. A. Lawson - Director FRC/2015/IODN/00000011374 FRC/2013/ICAN/00000004354

______F. O. Fatanmi - Chief Financial Officer (Acting) FRC/2013/ICAN/00000001900

The accounting policies on pages 26 to 34 and the accompanying notes on pages 35 to 57 form an integral part of these financial statements.

22 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Notes 2014 2013 N'000 N'000 Turnover 4 1,566,190 1,060,308 Cost of sales 19 (642,268) (616,954) 923,922 443,354 Other income 6 9,370 9,963 933,292 453,317 Selling and distribution expenses 20 (213,731) (110,623) Administrative expenses 21 (492,002) (364,734) Impairment of assets 22 10,554 (133,465) Operating Profit(loss) 238,113 (155,505) Finance Cost 17 (87,942) (73,096) Profit/(loss) after Finance Cost 150,171 (228,600) Derecognition of Loan Liability 23 - 100,607 Profit/(loss) before tax 150,171 (127,993) Taxation 18.3 (49,164) 6,811 (Loss)/Profit from Continuing Operations 101,007 (121,182) Loss from Discontinuing Operations - - Profit for the Period 101,007 (121,182)

Other Comprehensive Income for the Period Revaluation surplus on land and building 7.1 - -

Other comprehensive income for the year, net of tax - -

Total Comprehensive Income for the Period 101,007 (121,182)

Earning Per Share Basic Earnings per share Earnings from continued Operations (kobo) 24 101 (121) Earnings from discontinued Operations (kobo) - - Total 101 (121)

The accounting policies on pages 26 to 34 and the accompanying notes on pages 35 to 57 form an integral part of these financial statements.

23 STATEMENT OF CHANGES IN EQUITY

Share Share Revaluation Retained

Capital Premium Reserves Earnings Total

N'000 N'000 N'000 N'000 N'000

Balance as at January 1 2014 50,000 243,766 1,434,607 (898,176) 830,197

Total Comprehensive income for the Period

Profit for the year - - - 101,007 101,007

Transactions in Equity

Increase in share Capital - - -

Revaluation Surplus - - -

- - - 101,007 101,007

Balance as at December 31 2014 50,000 243,766 1,434,607 (797,169) 931,204

Balance as at January 1 2013 49,759 236,060 1,434,607 (776,994) 943,432

Total Comprehensive income for the Period

Loss for the year (121,182) (121,182)

Transactions in Equity

Increase in share Capital 241 7,706 7,947

Revaluation Surplus - - - - -

241 7,706 - (121,182) (113,235)

Balance as at December 31 2013 50,000 243,766 1,434,607 (898,176) 830,197

The accounting policies on pages 26 to 34 and the accompanying notes on pages 35 to 57 form an integral part of these financial statements.

24 STATEMENT OF CASH FLOWS

2014 2013

Notes N'000 N'000

Cash flows from operating activities

Cash generated from operations 25 518,302 132,198

VAT (39,523) -

Tax paid (35,971) (1,423)

Net cash provided by operating activities 442,808 130,775

Cash flows from investing activities

Purchase of fixed assets 7 (65,848) (36,929)

Net cash (used) by investing (65,848) (36,929)

Cash flows from financing activities

Interest paid on loans and overdrafts 17 (87,942) (73,096)

Loan Returned - (100,607)

Short term loan - (20,346)

Increase in Share Capital - 241

Increase in Share Capital premium - 7,706

Net cash (used) by financing activities (87,942) (186,101)

Net increase in cash and cash equivalents 289,017 (92,255)

Cash and cash equivalents, 1 January (286,476) (194,221)

Cash and cash equivalents, 31 December 11 2,541 (286,476)

The accounting policies on pages 26 to 34 and the accompanying notes on pages 35 to 57 form an integral part of these financial statements.

25 NOTES TO THE FINANCIAL STATEMENTS

1. Nature of Operations The company’s principal activities include the manufacturing, packaging and marketing of high quality pharmaceutical and consumer products. The consumer and pharmaceutical products share the same production lines and the company leverages on this to ensure efficiency and effectiveness in its production process.

The company is also engaged in the use of its facilities for manufacturing and packaging services for third parties.

2. General Information and Statement of Compliance with IFRS The financial statements of the company for the year ended 31 December 2014 have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and adopted by the Financial Reporting Council of Nigeria (FRCN). The company produced its first set of IFRS financial statements in 2012.

The financial statements have been prepared under the historical cost convention, unless otherwise stated in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for the assets.

The financial statements comprise a statement of financial position, a statement of profit or loss and other comprehensive income, a statement of changes in equity, a statement of cash flows, and notes. The financial statements are presented in the functional currency, Nigerian Naira rounded up to the nearest thousand.

3. Summary of Significant Accounting Policies

3.1. Property, Plant and Equipment Property, Plant and Equipment are tangible assets that can span more than one accounting period. These items are stated at their original cost or fair value less accumulated depreciation and impairment losses. Land and Building is measured at fair value which is determined every two years. The fair value is determined by engaging the services of an external professional valuer.

Any increase as a result of the revaluation of Land and Building is recognised in other comprehensive Income and accumulated in Equity under the heading of Revaluation Surplus. However, the increase is recognised in Profit or Loss to the extent that it reverses a revaluation decrease previously recognised in Profit or Loss. If the revaluation results to a decrease in the carrying amount of Land and Building, the decrease is recognised in profit or loss. However, the decrease is recognised in Other Comprehensive Income to the extent of any credit balance existing in the revaluation surplus in respect of the asset. Any revaluation surplus remaining in Equity on disposal of the asset is transferred to Retained Earnings.

Plant and Machinery, Furniture and Fittings, Motor Vehicles and Computer Equipment are measured at cost.

The initial cost of these assets comprises its purchase price and any costs directly attributable to bringing the asset into operation.

The capitalised value of plant and machinery acquired via finance lease is also included within Property, Plant and Equipment.

26 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

3.2 Depreciation and Impairment Depreciation is charged over the estimated useful life of the assets and is calculated at the following rates per annum on cost or valuation: % Buildings 2 Plant and Machinery 10 Furniture and Fittings 15 Motor Vehicles 20 Motor Bike/ Tricycle 50 1 Computer Equipment 33 /3

The useful lives and methods of depreciation of the assets are reviewed at each reporting period and adjusted prospectively if appropriate.

Impairment is measured as the difference between the carrying amount of an asset and its recoverable amount. Recoverable amount of an asset is the higher of its fair value less cost to sell and its value in use. Impairment is tested for when there is an indication of impairment such as:

• Decline in the market value of an asset;

• Changes in the technological, economic or legal environment resulting in an adverse effect on our activities;

• Obsolescence or damage of assets;

• Worsening performance of assets.

When there is an objective evidence of impairment, the loss is recognised in Profit or Loss except when there has been a previous upward revaluation in which case the impairment loss is recognised directly in equity.

Gains or losses arising on the disposal of Property, Plant and Equipment are determined as the difference between the disposal proceeds and the carrying amount of the assets and are recognised in Profit or Loss within 'other income' or 'other expenses'.

3.3. Fair Value Land and Building are measured at fair value by reference to market based evidence (Level 1 Fair Value Measurement). The fair value measurement is carried out every two years to ensure that the carrying amount of Land and Building is not materially different from its market value.

3.4. Leased Assets In accordance with IAS 17 Leases, the economic ownership of a leased asset is transferred to the lessee if the lessee bears substantially all the risks and rewards related to the ownership of the leased asset. The related asset is then recognised at the inception of the lease at the fair value of the leased asset or, if lower, the present value of the lease payments plus incidental payments, if any. A corresponding amount is recognised as a finance leasing liability, irrespective of whether some of these lease payments are payable up-front at the date of inception of the lease.

Depreciation methods and useful lives for assets held under finance lease agreements correspond to those applied to comparable assets which are owned by Pharma Deko Plc. The corresponding finance leasing liability is reduced by lease payments less finance charges, which are expensed as part of finance costs

27 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to Income Statement over the period of the lease.

3.5. Inventories Inventories are stated at the lower of cost and net realisable value after making adequate provision for obsolete, slow moving and damaged items. In case of goods manufactured by the Company, cost includes production overheads. Stock is valued at weighted average cost and goods in transit at the invoice price. Work- in- progress is stated at cost. Cost in this case consists of direct labour and materials plus appropriate proportion of factory overheads.

Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and selling expenses.

3.6. Financial Instruments a. Non Derivative Financial Assets i. Trade Receivables Trade receivables are financial assets usually measured at amortised cost less any impairment losses. Since the effect of discounting is immaterial, they are stated at their invoice price.

Trade receivables are assessed annually to determine if there is an objective evidence of impairment. The impairment loss is determined by splitting the receivables into groups of trade receivables that share similar credit risk characteristics. The credit risk groups are to be assessed for impairment using historical loss experience for each group. Such historical loss experience would be adjusted to reflect the effects of current conditions.

Staff Receivables, which are interest free and for a tenor of less than twelve months, is also measured at amortised cost. In this case, it is the face value of the loan. ii. Cash and Cash Equivalents Cash and cash equivalents comprise cash on hand and demand deposits, together with other short-term, highly liquid investments that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value. b. Non Derivative Financial Liabilities The Company has the following non-derivative financial liabilities: loans and borrowings, bank overdrafts, and trade and other payables.

Trade payables are measured at amortised cost. They are shown at face value because they do not carry any interest and usually have a tenor of up to three months.

Loans and Borrowings are recognised initially at fair value less any directly attributable transaction costs. Subsequently, they are measured at amortised cost using the effective interest method.

28 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

3.7. Taxation i. Company Income Taxation Income tax payable is provided on taxable profit at the current statutory rate. ii Education Tax Education tax expenses are recognized in the profit and loss account. Current education tax is the expected tax payable on the taxable income for the period, using statutory tax rates at the balance sheet date ii. Deferred Taxation Deferred Taxation, which arises from timing differences in the recognition of items for accounting and tax purposes, is calculated using the liability method. Based on the IFRS provisions, IAS 12, liability method recognizes all timing differences as temporary differences. Temporary differences are differences between the tax base of an asset or liability and its carrying amount in the Statement of Financial Position. The tax base of an asset or liability is the amount attributed to that asset or liability for tax purposes. The measurement of deferred tax liabilities and deferred tax assets shall reflect the tax consequences that would follow from the manner in which Pharma Deko Plc expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Deferred income tax assets and liabilities are measured at the rates that are expected to apply to the year when the asset is realized or the liability settled, based on tax rates (and tax laws) that have been enacted at the Statement of Financial Position date. Deferred tax assets are recognized when it is considered probable (more likely than not) that those assets will be recovered.

3.8. Foreign Currency Transaction Transactions denominated in foreign currencies are translated into Naira at the ruling rates of exchange at the date of transaction. Monetary assets and liabilities denominated in foreign currencies are reported at the prevailing exchange rate at the statement of Financial Position date. Any gain or loss arising from a change in exchange rates is charged to the Statement of Profit or Loss and Other Comprehensive Income.

3.9. Employee Benefits The Company provides a contributory pension fund scheme which is funded by contributions from employees at 8% and employer at 10% based on basic salary, housing and transport allowance in line with the Pension Reform Act of 2014 effective July 1, 2014 (7.5% and 7.5% from January to June 30, 2014). The employers’ contribution is charged to the Statement of Profit or Loss and Comprehensive income. Contributions are expensed in the period they are payable and any unpaid contribution at the end of the period are recognised as a liability.

The Company operates an unfunded non-contributory gratuity scheme. Employee final benefit on this scheme is determined based on the employee’s year of service and terminal Salary. This applies to employees who retire, resign or are made redundant or the company terminates their appointment as aforesaid. It does not apply to employees who are dismissed from the company.

3.10. Provisions Provisions are recognised when the Company has present obligation whether legal or constructive, as a result of past events for which it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation in accordance with IAS 37 Provisions, contingent liabilities and contingent assets.

29 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

3.11. Operating Segments An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur expenses. All operating segments’ operating results are reviewed from time to time by the management of the Company to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available.

The Company’s operating segments are as follows: Pharma: This refers to the pharmaceutical product of the Company. Consumer: This refers to the production of beverages; and Contract: This refers to the use of the Company’s facility for manufacturing and packaging of services to third parties.

Segment results that are reported to the Board include items directly attributable to a segment as well as those that can be allocated on a reasonable basis. Unallocated items comprise all assets, liabilities and income tax assets and liabilities.

3.12. Revenue Sales of Goods The sales of good comprises of pharmaceutical goods and consumer goods. Revenue from the sale of these goods in the course of ordinary activities is measured at the fair value of the consideration received or receivable, net of returns, trade discounts, sales tax and volume rebates. Revenue is recognised upon the exit of goods from the company’s warehouse given the availability of adequate goods-in-transit insurance. Revenue is recognised when the amount of revenue can be measured reliably, collection is probable and the costs incurred or to be incurred can be measured reliably.

Rendering of Services The rendering of services involves the use of the Company’s facilities for manufacturing and packaging of goods for third parties. Revenue is recognised when the amount of revenue can be measured reliably, collection is probable, costs incurred and cost to complete can be measured reliably and stage of completion can be ascertained at end of the reporting period. The stage of completion is determined by using the surveys of work completed.

3.13. Discontinued Operations A discontinued operation represents a component of the company’s principal business that is a separate major line of business or geographical area of operations that has been disposed of or is held for sale. Classification as a discontinued operation occurs upon disposal or when the operation meets the criteria to be classified as held for sale, if earlier.

Profit or loss from discontinued operations is presented in a single amount in the income statement. This amount is the post-tax profit or loss of discontinued operations.

3.14. Earnings per Share The Company presents Basic Earnings per Share (EPS) data for its ordinary shares. The Basic EPS is determined by dividing the profit or loss attributable to ordinary shareholders of the Company by the weighted average number of ordinary shares outstanding during the period.

3.15. Dividend Dividend on ordinary shares are appropriated from retained earnings and recognized as a liability in the period in which they are declared. Dividends that are proposed but not yet declared are disclosed in the notes to the financial statements.

30 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

3.16. Investment Properties Investment properties are properties held either to earn rental income or for capital appreciation or for both, but not for sale in the ordinary course of business, use in the production or supply of goods or services or for administrative purposes.

However, the company’s property at Okene close which was to be regarded as an investment property was not treated as such because the portion used for production or supply of goods and services is significant compared to the portion used for rent.

3.17. Changes in Accounting Policies and Disclosures

3.17.1 New and amended standards and interpretations The following standards and amendments and interpretations to existing standards published and mandatory for the company’s accounting period beginning on or after 1 January 2014 or later periods have not been early adopted by the company, in compliance with FRC Roadmap on transition to IFRS:

• IFRS 10 ‘Consolidated Financial Statements’ • IFRS 11 ‘Joint arrangements’ • IFRS 12 ‘Disclosure of Interests in Other Entities’ • IFRS 13 ‘Fair value measurement’. • IFRS 1 (amendment) ‘First-time adoption of International Financial Reporting Standards – Severe Hyperinflation and removal of fixed dates for first time adopters. • IAS 19 (as revised in 2011) Employee Benefits • IFRIC 20 Stripping costs in the production phase of a surface mine • IFRS 7 (amendments) – ‘New (enhanced) disclosure requirements for de-recognition of financial assets’. • IAS 36 (Amendments) Recoverable Amount Disclosures for Non-Financial Assets • IFRS 9 Financial Instruments (Hedge Accounting and amendments to IFRS 9, IFRS 7 and IAS 39) • Offsetting Financial Assets and Financial Liabilities (Amendments to IAS 32) • IFRIC 21 Levies • IAS 12 (amendments) –‘Deferred taxes – recovery of underlying assets’.

IFRS 10 Consolidated Financial Statements IFRS 10 replaces the parts of International Accounting Standard (IAS) 27 Consolidated and separate Financial Statements that deal with consolidated financial statements. Standard Interpretation Committee (SIC)-12, Consolidation- Special Purpose Entities will be withdrawn upon the effective date of IFRS 10. Under IFRS 10, there is only one basis for consolidation, that is, control. In addition, IFRS 10 includes a new definition of control that contains three elements: (a) power over an investee, (b) exposure, or rights, to variable returns from its involvement with the investee, and (c) the ability to use its power over the investee to affect the amount of the investor’s returns. Extensive guidance has been added in IFRS 10 to deal with complex scenarios.

31 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

IFRS 11 Joint Arrangements

IFRS 11 replaces IAS 31 Interests in Joint Ventures. IFRS 11 deals with how a joint arrangement of which two or more parties have joint control should be classified. SIC-13 Jointly Controlled Entities- Non-Monetary

Contributions by Ventures will be withdrawn upon the effective date of IFRS11. IFRS 11 is concerned principally with addressing two aspects of IAS 31: First that the structure of the arrangement was the only determinant of the accounting, and second, that an entity had a choice of accounting treatment for interests in jointly controlled entities.

IFRS 12 Disclosure of Interest in Other Entities

IFRS 12 is a disclosure standard and is applicable to entities that have interests in subsidiaries, joint arrangements, associates and/or unconsolidated structured entities. In general, the disclosure requirements in

IFRS 12 are more extensive than those in the current standards. IFRS 12 replaces the disclosure requirements in IAS 27, IAS 28 and IAS 31 except for the disclosure requirements that apply only when preparing separate financial statements, which are included in IAS 27 separate financial statements. IFRS 12 a disclosure standard and is applicable to entities that have interests in subsidiaries, joint arrangements, associates and/ or unconsolidated structured entities. In general, the application IFRS 12 has resulted in more extensive disclosures in the consolidated financial statements.

IFRS 13 Fair Value Measurement

IFRS 13 replaces the guidance on fair value measurement in existing IFRS accounting literature with a single standard. IFRS 13 defines fair value, provides guidance on how to determine fair value and requires disclosure about fair value measurements. However, IFRS 13 does not change the requirements regarding which items should be measured or disclosed at fair value. IFRS 13 applies when another IFRS requires or permits fair value measurements or disclosures about fair value measurements (and measurements, such as fair value less cost to sell, based on fair value or disclosures about those measurements), except in the following circumstances:

▪ Share based payment transactions within the scope of IFRS 2

▪ Leasing transactions within the scope of IAS 17

▪ Measurements that have some similarities to fair value, such as net realisable in accordance with IAS 2

inventories and value in use in accordance with IAS 36

32 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

IFRS 13 requires prospective application from January 1, 2013. In addition, specific transitional provisions were given to entities such that they need not to apply with the disclosure requirements set out in the standard incorporative information provided for periods before the initial application of the standard. Other than the additional disclosures, the application of IFRS 13 has not had any material impact on the amounts recognised in the financial statements.

IFRS 1 (Amendment) ‘First-Time Adoption of International Financial Reporting Standards – Severe

Hyperinflation and Removal of Fixed Dates for First Time Adopters The amendments to IAS 1 clarify that an entity is required to present a statement of financial position as at the beginning of the preceding period (third statement of financial position) only when the retrospective application of an accounting policy, restatement or reclassification has a material effect on the information in the third statement of financial position and that the related notes are not required to accompany the third statement of financial position. The amendments also clarify that additional comparative information is not necessary for periods beyond the minimum comparative financial statement requirements of IAS 1.

IAS 19 (as Revised in 2011) Employee Benefits The amendments to IAS 19 change the accounting for defined benefit plans and termination benefits. The most significant change relates to the following areas inter alia: ▪ Recognition of changes in the net defined benefit liability ▪ Plan amendments, curtailments and settlements ▪ Disclosure about defined benefit plans ▪ Accounting for termination benefits and other miscellaneous issues

The application of this standard has had no impact on the amounts recognised in profit or loss and other comprehensive income in prior years.

IFRS 7 (Amendments) – ‘New (Enhanced) Disclosure Requirements For De-Recognition Of Financial

Assets’. This standard requires disclosure of information about the significance of financial instruments to an entity, and the nature and extent of risks arising from those financial instruments, both in qualitative and quantitative terms.

Specific disclosures are required in relation to transferred financial assets and a number of other matters. It also requires additional hedge accounting disclosures (and consequential amendments) resulting from the introduction of the hedge accounting in IFRS 9. This is effective from the Annual periods beginning on or after 1

January 2015.

33 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

IAS 36 (Amendments) Recoverable Amount Disclosures for Non-Financial Assets The amendment reduces the circumstances in which the recoverable amount of assets or cash-generating units is required to be disclosed, clarify the disclosures require, and to introduce an explicit requirement to disclose the discount rate used in determining impairment (or reversals) where recoverable amount (bases on fair valueless costs of disposal) is determined using a present value technique.

IFRS 9 Financial Instruments (Hedge Accounting and Amendments to IFRS 9, IFRS 7 and IAS 39) A revised version of IFRS 9 incorporating revised requirements for the classification and measurement of financial liabilities, and carrying over the existing derecognition requirements from IAS 39 Financial Instruments

Recognition and Measurement. Amends IAS 39 Financial Instruments Recognition and Measurement make it clear that there is no need to discontinue hedge accounting if a hedging derivative is noted, provided certain criteria are met.

Amendments to IAS 32 - Offsetting Financial Assets and Financial Liabilities The amendment clarifies certain aspects because of diversity in application of the requirements non-offsetting, focused on four main areas: the meaning of ‘currently’ has a legally enforceable right of set-off, the application of simultaneous realisation and settlement, the offsetting of collateral amounts and the unit of account for applying the offsetting requirements.

IFRIC 21 Levies Provides guidance on when to recognise a liability for a levy imposed by a government, both for levies that are accounted for in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets and those where the timing and amount of the levy is certain. The liability is recognised progressively if the obligating event occurs over a period of time. An obligation is triggered if a minimum threshold is reached.

IAS 12 (amendments) –‘Deferred taxes – Recovery of Underlying Assets’. IAS 12 addresses the accounting for income taxes, including deferred tax assets. The amendments published today propose guidance that clarifies how to account for deferred tax assets related to debt instruments measured at fair value. The draft amendments are proposed in response to diversity in practice and are relevant in circumstances in which the entity reports tax losses.

34 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

4 Revenue Continuing Discontinuing Continuing Discontinuing Operations Operations Operations Operations 2014 2013 . N’000 N’000 N’000 N’000 Pharma 944,586 - 443,363 - Consumer 609,742 - 542,482 - Contract 11,862 - 74,463 - 1,566,190 - 1,060,308 - The result of the continuing operations is further discussed in note 5 (Operating Segments).

5 Operating Segments Pharma Deko Plc is engaged in the manufacturing and marketing of high quality pharmaceutical and consumer products. The Company has three reportable segments which serve as the Company’s strategic business units. These operating segments are assessed and strategic decisions are made on the basis of operating segment results. The following summary describes the operations in each of the reportable segments:

Pharma: This refers to the pharmaceutical products of the Company; Consumer: This refers to the production of beverages and; Contract: This refers to the use of the Company's facility for manufacturing and packaging of goods and services to third parties.

Due to the nature of the Company’s operations and the relationship among the above segments (sharing of production lines), the assets and the liabilities of the Company cannot be determined on a segmental basis and does not form part of the information provided to management for segmental review. Hence, such information is not disclosed as part of operating segments. Also Administrative Expenses and Interest Expenses are distributed proportionately to all segments due to the reason mentioned above Pharma Consumer Contract Total December 2014 N’000 N’000 N’000 N’000 944,586 609,742 11,862 1,566,190 Cost of sales 244,018 319,097 6,617 569,733 Depreciation 31,067 40,626 843 72,535 Selling and Distribution Expenses 129,887 83,844 - 213,731 Admin. Expenses 296,732 191,544 3,726 492,002 Impairments (6,365) (4,109) (80) (10,554) Interest Expenses 53,039 34,237 666 87,942 748,378 665,239 11,772 1,425,389 Segment Profit/(Loss) before Income Tax 196,208 (55,497) 90 140,801

35 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

2013 Pharma Consumer Contract Total N’000 N’000 N’000 N’000 External Revenue (Segment Revenue) 443,363 542,482 74,463 1,060,308 Cost of sales 140,181 342,881 44,439 527,501 Depreciation 37,404 45,767 6,282 89,453 Selling and Distribution Expenses 32,173 78,450 - 110,623 Admin. Expenses 152,512 186,608 25,615 364,734 Impairments 84,671 48,794 - 133,465 Interest Expenses 30,565 37,398 5,133 73,096 477,504 739,898 81,469 1,298,871 Segment Profit before Income Tax (34,141) (197,416) (7,006) (238,563)

5.1 Reconciliation of Operating Segment revenue to Company Revenue 2014 2013 N’000 N’000 Revenue for Segments 1,566,190 1,060,308 Discontinued Operations - - Company Revenue 1,566,190 1,060,308

5.2 Reconciliation of Operating Segment Profit/(Loss) to Company Profit/(Loss) before tax 2014 2013 N’000 N’000 Total Profit/(loss) for Segments 140,801 (238,563) Elimination of discontinued operations - - 140,801 (238,563) Add: Unallocated Amount Rent on warehouse - 1,400 Exchange gain - - Sale of scrap & impaired motor vehicles 2,303 1,856 Write back of over provision - 6,380 De-recognition of loan liability - 100,607 Interest income 7,067 326 Company Profit before Income Tax 150,171 (127,993)

6 Other Income Rent on Warehouse - 1,400 Foreign Exchange Gain - Sale of Scrap 2,303 856 Proceed from impaired motor vehicles - 1,000 Write back of over provision - 6,380 Interest income 7,067 326 9,370 9,963 Rent income represents rent collected from a portion of the company's warehouse, sale of scrap represent sales from used kegs, drums, caps and nylons.

36 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

7 Property, Plant and Equipment Plant and Furniture Motor Computer Land Buildings Machinery & Fittings Vehicles Equipment Total Cost/valuation N’000 N’000 N’000 N’000 N’000 N’000 N’000 At 1 January 2014 759,000 1,071,000 766,567 2,100 23,806 4,873 2,627,346 Additions 9,930 203 53,163 2,553 65,848 Revaluation Surplus ------At 31 December 2014 759,000 1,071,000 776,496 2,303 76,970 7,426 2,693,195 Accumulated Depreciation At 1 January, 2014 - 26,775 511,288 1,512 13,972 4,742 558,289 Charge for the year 21,420 51,116 97 9,203 527 82,364 At 31 December 2014 - 48,195 562,404 1,609 23,175 5,269 640,653

Impairment At 1 January, 2014 - - 48,794 - - - 48,794 Charge for the year - - 3,162 - - - 3,162 At 31 December 2014 - - 51,956 - - - 51,956

Net book value At 31 December 2014 759,000 1,022,805 162,136 694 53,794 2,157.03 2,000,586 759,000 1,044,225 206,485 588 9,834 131 2,020,263

7.1 Land and Buildings In accordance with IFRS1 First-time Adoption of International Financial Reporting Standards, management in 2012 in the company's first year of adoption of IFRS, elected to adopt the revaluation of Land and Buildings at an open market value of N1,015,000,000 as carried out by Messrs Jide Taiwo and Company (Estate Surveyors and Valuers) on a rolling basis on December 10, 2010 and December 16, 2011. Management considers the valuation done in December 2011 to be representative of the conditions as at December 2010 because there has not been any material change in market conditions. This has led to a revaluation surplus of N580,992,630.07 on January 1, 2011.

Subsequently, land and building has been revalued at open market value of N1,830,000,000 (Land- N759,000,000 and Building-N1,071,000,000) by Messrs Kanu Iroegbu and Associates (Estate Surveyors and Valuers) on September 15, 2012. This led to additional revaluation surplus of N853,614,151 as at September 30, 2012

If the cost model had been used, the carrying amount of the revalued land and building would be N417,499,010 (2011:N424,572,000, 2010:N434,007,000). The revalued amounts include a revaluation surplus of N1,434,606,152 before tax (2011:N580,992,000, 2010:N367,213,000). The amount for 2010 is available for distribution to the shareholders of Pharma Deko Plc while that of 2011 and 2012 is not available for distribution.

7.2 Plant and Machinery The cost model was used in the recognition of Plant and Machinery under the Nigerian Statement of Accounting Standards (SAS) and was retained on transition to IFRS in 2012. Pharma Deko Plc leases some items of Plant and Machinery under finance lease agreements and details of the liability is included in note13. These lease items are included in Plant and Machinery. As at 31 December 2013, the Company's Two (2) Lines Canning machine and its accessories with historical cost of N183,715,000 and accumulated depreciation of N136,429,000 was impaired as thus: non-serviceable machines in the non-functioning one line were fully (100%) impaired to the tune of N13,320,000 and the serviceable machines in the second line with low capacity production (90-100 units/minute instead of 200-225 unit/minute) was 50% impaired to the tune of N4,906,000. Also, Scrapped and non-existing machines were 100% impaired to the tune of N11,772,301 and N18,796,365 respectively .

7.3 Furniture and Fittings/Motor Vehicle The cost model was used in the recognition of Furniture and Fittings/Motor Vehicle under the Nigerian Statement of Accounting Standards (SAS). On transition to IFRS in 2012, the cost model was retained.

37 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

8 Inventories 2014 2013 N'000 N'000 Raw materials 52,056 77,577 Finished goods 28,665 29,283 Packaging materials 203,537 209,880 Consumables 19,504 15,970 Work in Progress 203 3,976 303,965 336,686 Impaired inventories (91,383) (105,102) 212,582 231,584

Inventories are measured at the lower of cost and net realisable value. In 2014, a total of N416,441,485 (2013:N339,947,169) inventories were recognised in the cost of sales. There were write-downs of N84,671,153 (2012:nil) and reversal of write-downs of N20,514,000 (2013: nil reversals) of inventories in 2014. None of the inventories are pledged as securities for liabilities.

2014 2013 Movements in the allowance for impairment of inventories N'000 N'000 At 1 January 105,102 20,431 Charge for the Year 4,409 84,671 Write-back (18,128) - At 31 December 91,383 105,102

9 Trade Receivables 2014 2013 N'000 N'000 Trade Receivables 239,125 235,364 Impairment of trade receivables (136,043) (136,043) 103,081 99,321

Trade Receivables are non-interest bearing and are generally on a 30 day term.

Movements in the allowance for impairment of receivables is as follows: At 1 January 136,043 136,043 Charge for the Year - - Amounts Written-Off - - Unused Amounts Reversed - - At 31 December 136,043 136,043

38 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

10 Other Receivables 2014 2013 N’000 N’000 Staff Debtors 5,696 2,127 Cash Advance 1 - Total Financial Assets 5,697 2,127

Sundry Receivables 119,617 88,505 Prepayments 3,017 563 Deposit for Import 22,979 1,894 Deferred Right Issue Expenses 7,473 3,610 Total Non Financial Assets 153,086 94,572 Total 158,783 96,698

Included in Staff Receivables is the unpaid amount of the Company shares alloted to interested employees of the Company in 2002, Interested employees of the Company were alloted the company's shares with an agreement that the alloted shares would be paid for by deducting the shares amount from the employees exit entitlement. The value of this transaction, N2,127,000, has been determined by multiplying the market value of the shares (as at grant date) by the number of shares alloted to the employees. The prepayments comprises of payment made for rent and insurance (Life Assurance and Industry Risk Insurance).

11 Cash and Cash Equivalents 2014 2013 N’000 N’000 Ecobank Plc 738 8,077 Cash in other banks 363,378 42,152 Cash in hand 80 40 364,196 50,269

Bank Overdrafts used for cash management purposes (note 14) (361,655) (336,745)

Cash and Cash Equivalents in the Statement of Cash Flows 2,541 (286,476)

39 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

12 Equity 12.1 Share Capital The share capital of Pharma Deko Plc consists only of fully paid ordinary shares that carry a par value of 50 kobo per share. These shares entitle the holders to dividend and repayment of capital(at liquidation).

Authorised Ordinary Share Capital 2014 2013 N’000 N’000 300,000,000 ordinary shares of 50k each 150,000 150,000

Ordinary Shares Issued and Fully Paid At 1 January 50,000 49,759 Movement during the year - 241 At 31 December 50,000 50,000

Number in Number in thousand of thousand of shares shares At 1 January 100,000 99,518 Movement during the year - 482 At 31 December 100,000 100,000

2014 2013 12.2 Share Premium N’000 N’000 243,766 236,060 Movement during the year - 7,706 At 31 December 243,766 243,766

12.3 Revaluation Reserve At 1 January 1,434,607 1,434,607 Movement during the year - - At 31 December 1,434,607 1,434,607

12.4 Retained Earnings At 1 January (898,176) (776,994) Profit/(Loss) for the year 101,007 (121,182) At 31 December (797,169) (898,176)

40 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

13 Employee Benefits The average number of persons employed in the financial year and the related staff costs were as follows: 2014 2013 Categories: Number Number Managerial 13 13 Other Staff 115 120 128 133

N’000 N’000 Salaries and Wages 242,226 200,277 Staff Gratuity 16,349 6,411 Pension Contribution 21,848 10,539 Staff Productivity Bonus 8,645 - Welfare, Training and Development 89,301 69,556 378,369 286,783

The number of employees in receipt of emoluments excluding allowance and pension fund contributions, within the following range is as follows:

Number Number N 2014 2013 280,001 330,000 - - 330,001 380,000 - - 380,001 430,000 - - 430,001 480,000 - - 480,001 530,000 - - 530,001 580,000 - - 580,001 630,000 - 20 630,001 680,000 - - 680,001 730,000 - 29 730,001 780,000 19 1 780,001 830,000 1 - 830,001 880,000 29 3 880,001 930,000 - 3 930,001 1,080,000 2 26 1,080,001 1,180,000 20 7 1,180,001 1,230,000 5 - 1,300,001 1,350,000 10 1 1,400,001 1,450,000 - - 1,500,001 1,550,000 - - 1,550,001 1,880,000 1 23 1,880,001 2,100,000 15 7 2,330,001 2,380,000 13 - 2,550,001 2,600,000 - - 2,600,001 4,000,000 7 8 4,000,001 4,950,000 - 1 4,950,001 5,000,000 - - 5,000,000 5,950,000 - 1 5,950,001 6,000,000 3 - 8,000,000 8,800,000 - 2 8,950,001 and above 3 1 128 133

41 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

13.1 Post Employment Benefits The Company operates a defined contribution scheme where in both the Company and the employees contribute 10% and 8% respectively of the employee’s total emolument (basic pay, housing and transport allowance) to a Pension Fund Administrator effectively July1, 2014 (7,5% and 7.5% from January to June30, 2014). As at 31 December 2014, the Company had a liability of N97,028,000 as unpaid pension contribution under this scheme.

Defined Contribution Scheme 2014 2013 N’000 N’000 At 1 January 108,519 109,070 Charge for the year 40,608 26,148 Payments during the year (52,099) (26,699) At 31 December 97,028 108,519

In addition to the above, the Company also operates a defined benefit scheme (staff gratuity) for its staff. As at 31 December 2014, the Company had a liability of N53,396,000 under this scheme. The Management and Audit Committee are of the view that actuary valuation was not necessary in view of the nature of the gratuity.

Defined Benefit Scheme 2014 2013 N’000 N’000 At 1 January 75,191 96,467 Charge for the year 16,274 9,361 Payments during the year (38,069) (30,637) At 31 December 53,396 75,191

14 Loans and Borrowings – Current Financial Liabilities 2014 2013 N’000 N’000 Bank Overdrafts 361,655 336,745 Commercial Papers 522,548 462,005 884,203 798,750

Bank overdrafts were obtained from various banks including Union Bank of Nigeria Plc, Zenith International Bank Plc and Skye Bank Plc. The bank overdrafts are secured by a negative pledge on fixed/floating assets of the Company. Bank Overdrafts includes N356,750,210 from Zenith International Bank Plc. The commercial papers comprise several issuances from both Financial Derivatives Company Limited N335,356,486 and Chapel Hill Advisory Partners Limited N187,191,993 with a tenor of three months at different interest rates and roll over.

42 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

15 Trade Payables – Current Financial Liabilities 2014 2013 N’000 N’000 Trade Payables 252,759 270,265

Trade payables are measured at a mortised cost. However, because the trade payables are non-interest bearing and have a settlement period of three months hence they are stated at the invoice amount.

16 Other Payables 2014 2013 N’000 N’000 Financial Liability Sundry creditors (16.1) 368,767 133,827 Accruals 66,750 89,951 VAT payable 110,671 130,177 Employee Benefits – Unpaid Contribution (see note 13.1) 97,028 108,519 643,215 462,474 Non Financial Liability Deferred rent income - - Customers' deposits - - - - Total 643,215 462,474

16.1 Sundry Creditors 2014 2013 N’000 N’000 Other Creditors 74,866 72,351 Industrial Training Fund 324 9,529 Commitment Deposit 240,000 - Co-operative Society Contribution 6,248 6,248 Union Dues 184 175 Witholding Tax on Dividend 231 231 Witholding Tax on Services 17,194 16,786 Pay As You Earn (PAYE) 23,983 25,442 Salaries and Wages Payable 0.08 137 Short Term Private Placement - - 1% NSITF 4,838 2,028 Dividend Payable 900 900 368,767 133,827

43 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

17 Finance Cost Finance cost for the period is as follows: 2014 2013 N’000 N’000 Interest on commercial papers 60,544 46,294 Interest on bank Overdraft 27,347 26,319 Interest on finance lease - 50 Interest on Private Placement - 407 Loss on foreign exchange 52 25 87,942 73,096 Add: Interest on bank overdrafts (Discontinued Operations) - - Total 87,942 73,096

18 Taxation 18.1 Current Income Tax Company Tax Education Tax Total N’000 N’000 N’000 At 1 January 16,883 19,974 36,857 Charge for the year 23,543 4,283 28,252 Payments (15,997) (19,974) (35,971) At 31 December 24,429 4,709 11,758 The charge for taxation in this financial statement for the year ended 31 December 2014 is based on the provisions of the Companies Income Tax Act, CAP C21, LFN 2004.

The Education tax is based on 2% of assessable profit for the period

18.2 Deferred Income Tax 2014 2013 N’000 N’000 Start of the Year 24,402 38,376 Charge/(Write back) for the year 38,291 (13,975) End of the Year 62,693 24,402

The company has adopted the international Accounting Standard(IAS 12) on deferred taxation computation using the liability method.

18.3 Tax Charge for the Year Below is the breakdown of the tax charge for year ended December 2014: 2014 2013 N’000 N’000 Education Tax 4,283 1,723 Minimum Tax 6,589 5,442 Deferred Tax charge/(write back) 38,292 (13,975) Total 49,164 (6,811)

44 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

18.4 Deferred tax The following table illustrates the deferred tax balances recognised in the statement of financial position. 2014 2013 N'000 N'000 Deferrred tax on continuing operations Deferred tax assets - - Deferred tax liabilities 62,693 24,402 Net Balance At 31 December 62,693 24,402 The tables below illustrate, in respect of each type of temporary difference, the movements of deferred tax assets and liabilities on continuing operations recognised in the. Recognised in 0 Other Profit or Loss Comprehensive Income As at 1 January 2013 - - Tax losses - - Provisions - (13,975) Other - - As at 31 December 2013 - (13,975) Tax losses - - Provisions - 38,292 Other - - As at 31 December 2014 - 38,292 The tax losses are recognised as assets because in so far as they exceed taxable profits from the reversal of existing temporary differences, sufficient taxable profits are expected in the tax jurisdictions concerned and a significant amount of those tax losses have unlimited expiry. As a result, there are no unused tax losses for which deferred tax assets have not been recognised. Recognised in 0 Deferred tax liabilities Other Comprehensive Profit or Loss Equity Income As at 1 January 2013 - 38,376 - Property, plant and equipment - (13,975) - Available-for-sale investments - - Other - - As at 31 December 2013 - 24,401 - Property, plant and equipment - 38,291 - Available-for-sale investments - - As at 31 December 2014 - 62,692 - Deferred tax computation resulted into a deferred tax liabilities N62,692,635 (2013: N24,400,875)

18.5 Tax Expense Reconciliation 2014 2013 N'000 N'000 Profit(Loss) for the Year 150,171 (127,993) Expected tax base on statutory rate of 32% 48,055 (40,958) Adjusted for the Effect of ; Deferred Tax (Asset)/Liability 38,291 (13,975) Expenses not deductable for Tax purposes 239,352 214,459 Adjustment to Tax in Respect of Prior Periods - loss relief - (24,794) Effect of capital allowances on taxable profit (214,157) (61,347) Income not liable to tax (25,195) (326) Other Item - effect of minimum tax option (37,182) (79,870) Income Tax Expense recognized in income statement 49,164 (6,811) . Effective Tax Rate 32.74% 5.32%

45 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

19 Cost of Sales Cost of sales for the period is as follows: 2014 2013 N’000 N’000 Contract 6,617 44,439 Pharma 244,018 140,181 Consumer 319,097 342,881 Depreciation 72,535 89,453 642,268 616,954 Discontinued operations Company Cost of Sales - - 642,268 616,954

20 Selling and Distribution Cost Advertising and distribution 136,714 53,430 Publicity and Promotion 7,618 2,554 Freight 69,399 54,639 213,731 110,623 Discontinued Operations - - 213,731 110,623

21 Administrative Expenses Administrative expense for the period is as follows:

Directors Benefits: Directors Emoluments - Fees 1,450 1,450 Directors Emoluments - Others 12,091 11,082 Sub Total 13,541 12,532

Personnel cost: Staff cost 242,226 200,277 Medical and staff welfare 83,990 64,948 Staff training and development 5,311 4,608 Staff gratuity 16,349 6,411 Pension 21,848 10,539 Staff Productivity Bonus 8,645 - Sub Total 378,369 286,783

Office and establishment expenses: Telephone and postages 1,499 1,372 Printing and stationeries 1,462 1,137 Newspapers and periodicals 783 14 Rents and rate 280 788 Subscriptions and donations 3,655 3,159 Transport and travelling 3,496 2,723 Repairs and maintenance 1,114 3,308 Motor running expenses 1,410 335 Security and domestic utilities 16,497 16,482 Audit fee 3,500 3,500 Agbara Estate Service charge 19,085 914 Annual General Meeting expenses 3,270 634 56,052 34,366

46 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

21 Administrative Expenses (continued) 2014 2013 N’000 N’000 Professional charges 21,352 12,586 Miscellaneous expenses 961 1,099 Depreciation 9,829 6,531 Entertainment 798 879 Insurance 3,912 4,236 Bad debts - - Bank charges 2,847 3,780 Secretarial fees 4,340 1,943 Sub Total 44,040 31,054 Total 492,002 364,734 Discontinued Operations - - Company Administrative Expenses 492,002 364,734

22 Impairments Impaired/(write back) on inventory materials (13,719) 84,671 Impaired property, plant and equipments 3,164 48,794 (10,554) 133,465

N'000 N'000 23 Net savings from cancelled loan - 100,607 - 100,607

The above savings arose from the cancellation of the company's loan to one of its loan creditors after paying an agreed settlement fees.

24 Earnings per Share Basic (Loss)/ Earnings per Share The calculation of basic earnings per share was based on the profit for the period of N158,816 (2013:N121,182,000) and a weighted average number of ordinary shares outstanding of 100,000 thousand (2013: 100,000 thousand). Continued Discontinued Operations Operations Total N’000 N’000 N’000 Profit/(Loss) as at 31 December 2013 (121,182) - (121,182) Profit/(Loss) as at 31 December 2014 101,007 - 101,007 Weighted Average Number of Shares

2014 2013 Thousand Thousand Issued ordinary shares as at 100,000 100,000

2014 2013 Profit/(Loss)/ Earnings from continued Operations (kobo) 101 (121) Profit from discontinued Operations (kobo) - - 101 (121)

47 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

25 Reconciliation of Profit before Taxation to Cash generated by Operating Activities 2014 2013 N’000 N’000 Profit before taxation 150,171 (127,993) Adjustments to reconcile Net profit to Net Cash provided by Operating Activities Depreciation 82,364 95,984 Write back inventory (13,719) - Interest expense 87,942 73,096 Sale of scrap - Impairment of assets 3,162 48,794 Changes in Operating Assets and Liabilities (Increase)/Decrease in Inventories 19,002 109,709 (Increase)/Decrease Trade debtors (3,760) (10,250) (Increase)/Decrease Other Debtors and Prepayments (62,085) 5,458 Increase/(Decrease) in Trade Creditors (17,506) (72,115) Increase/(Decrease) in Other Creditors 209,072 (11,479) Increase/(Decrease) in Loans and Borrowings 85,454 42,270 Decrease in retirement benefits (21,795) (21,276) 368,131 260,190 Cash provided by operating activities 518,302 132,198

48 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

26 Related party transactions 26.1 Transaction with Key Personnel Management The Key Management personnel of the Company comprises of both the Board of Directors and the Management Team.

Short term Benefits (Board of Directors) 2014 2013 Fees: N'000 N'000 Chairman 250 250 Other Directors 1,200 1,200 1,450 1,450 Other Emoluments: Chairman - Other Directors 12,091 11,082 12,091 11,082 Short term Benefits (Management Team) Salaries and Allowances: 68,390 59,769

Total Short term benefits 68,390 72,300 Post Employment Benefits (Management Team) Pension 10,784 8,004 10,784 8,004

Total Benefits to Key Personnel (Management Team) 79,174 80,304

26.2 The company's guest house located at Awka close, Agbara Estate belongs to Mr.Alegieuno, a Director of the Company. The rent of the guest house was negotiated at N900,000 per annum, payable two years in advance.

26.3 The Chairman of the Board of Directors is related to: The Key Management personnel of the Company comprises of both the Board of Directors and the Management Team. (I) The Legal Adviser to the Company - Chief Rotimi Williams Chambers. In 2014, services valued at N14,834,649 (2013: N10,505,722) was rendered to the company by the Chambers.

(ii) The Secretary to the Company - Unity Trustees Limited. The value of services rendered to the company during the year is N3,405,000 (2013: N2,247,000)

During the year, transactions between the related parties and the Company were conducted at arm's length.

49 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

27 Financial Instruments

Loans and Other Amortised 2014 Note Receivables Cost Total Financial Assets N'000 N'000 N'000 Trade Receivables 103,081 - 103,081 Staff Debtors 5,696 - 5,696 Cash Advance 1 - 1 Cash and Cash Equivalent 364,196 - 364,196 Total Financial Assets 472,975 - 472,974

Financial Liabilities Loans and Borrowings - Non Current - - - Loans and Borrowings - Current - 884,203 884,203 Trade Payables - 252,759 252,759 Other Payables - 643,215 643,215 Total Financial Liabilities - 1,780,177 1,780,178

Loans and Other Amortised 2013 Receivables Cost Total Financial Assets N'000 N'000 N'000 Trade Receivables 99,321 - 99,321 Staff Debtors 2,127 - 2,127 Cash Advance - - - Cash and Cash Equivalent 50,269 - 50,269 Total Financial Assets 151,717 - 151,717

Financial Liabilities Loans and Borrowings - Non Current - - - Loans and Borrowings - Current - 798,750 798,750 Trade Payables - 270,265 270,265 Other Payables - 462,474 462,474 Total Financial Liabilities - 1,531,489 1,531,489

50 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

28.0 FINANCIAL RISK MANAGEMENT The Company has exposure to the following risks from its use of financial instruments:

(i) Credit risk (ii) Liquidity risk (iii) Market risk

This note presents information about the company's exposure to each of the above risks, the company's objectives, policies and processes for measuring and managing risk, and the company's management of capital. Further quantitative disclosures are included throughout these financial statements.

28.1 Risk Management Framework The Board of Directors has overall responsibility for the establishment and oversight of the company's risk management framework. The Board has established the Risk Management Committee, which is responsible for developing and monitoring the company's risk management policies. The Committee reports regularly to the Board of Directors on its activities.

The Company's risk management policies are established to identify and analyse the risks faced by the company's, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly by the Executive Management to reflect changes in market conditions and the Company’s activities. The Company, through its training and management standards and procedures, aims to develop a disciplined and constructive control environment in which all employees understand their roles and obligations. The company's Internal Audit oversees how management monitors compliance with the company’s risk management policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the company.

28.2 Credit Risk Credit risk is the risk of financial loss to the company if a customer or counter party to a financial instrument fails to meet its contractual obligations, and arises principally from the company’s receivables from clients and other related parties.

2014 2013 N'000 N'000 Trade and other receivables 261,865 330,905 Less: Amount due from related party - - Cash and cash equivalents 2,541 (286,476) 264,406 44,429

51 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

28.3 Cash and Cash equivalents The cash and cash equivalents held as at 31 December 2014 was N2,541,000 (2013:N286,476,000). The cash and cash equivalents are held by banks and financial institutions in Nigeria.

28.4 Liquidity Risk Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The company’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the company's reputation.

The company has a clear focus on ensuring sufficient access to capital to finance growth and to refinance maturing debt obligations. As part of the liquidity management process, the company has various credit arrangements with some banks which can be utilised to meet its liquidity requirements. At they earend, the company had N884,203,000 (2013:N798,750,000) utilized credit arrangements under loan and over draft agreements respectively with it's bankers.

Typically, the credit terms with clients are more favourable compared to payment terms to its vendors in order to help provide sufficient cash on demand to meet expected operational expenses, including the servicing of financial obligations. This excludes the potential impact of extreme circumstances that cannot reasonably be predicted, such as natural disasters.

The following are the contractual maturities of financial liabilities, including estimated interest payments and excluding the impact of netting agreements.

28.5 Non-Derivative Financial Liabilities: Notes Carrying Contractual Within 1 - 2 2 - 5 5 - 10 amount cash flows 1 year years years years N'000 N'000 N'000 N'000 N'000 N'000 31 December 2014 Overdraft from banks 361,655 - 361,655 - - - Trade and other payables 887,329 - 895,974 - - - Borrowings 522,548 - 522,548 - - - 1,771,532 - 1,780,177 - - -

31 December 2013 Overdraft from banks 336,745 - 336,745 - - - Trade and other payables 732,739 - 732,739 - - - Borrowings 462,005 - 462,005 - - - 1,531,489 - 1,531,489 - - -

52 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

28.6 FINANCIAL RISK MANAGEMENT (continued) Market risk Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect the Company’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return. The Company manages market risks by keeping costs low through various cost optimization programs. Moreover, market developments are monitored and discussed regularly, and mitigating actions are taken where necessary.

28.7 Currency risk The Company is exposed to currency risk on sales and purchases and borrowings that are denominated in a currency other than the functional currency of the Company, primarily the Naira. The currency in which these transactions primarily are denominated is US Dollars (USD). The currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to the changes in foreign exchange rates. In managing currency risk, the company aims to reduce the impact of short-term fluctuations on earnings. The company's significant exposure to currency risk relates to its purchases that are mainly in USD. Although the company has various measures to mitigate exposure to foreign exchange rate movement over the longer term, the gains/losses on foreign exchange balances impact on the income statement. The company monitors the movement in the currency rates on an on-going basis.

28.8 Exposure to Currency risk The company's transactional exposure to US Dollar (USD) was based on notional amounts as follows: 2014 2013 N'000 N'000 Financial assets Due from related parties - - Trade and other receivables - - Cash and cash equivalents - - - -

Borrowings - - Due to related parties - - Trade and other receivables 252,759 270,265 252,759 270,265 Net statement of financial position exposure (252,759) (270,265)

53 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FINANCIAL RISK MANAGEMENT (continued)

28.9 Sensitivity Analysis A strengthening of the Naira, as indicated below against the Dollar at 31 December 2014 would have increased (decreased) profit or loss by the amounts shown below. This analysis is based on foreign currency exchange rate variances that the Company considered to be reasonably possible at the end of the reporting period and has no impact on equity. The analysis assumes that all other variables, in particular interest rates, remain constant. The analysis is performed on the same basis at 31 December 2014, albeit that the reasonably possible foreign exchange rate variances were different, as indicated below:

Increase/ Increase/ (decrease) in profit (decrease) in profit 2014 2013 N'000 N'000 USD (5 percent strengthening) - -

The following significant exchange rates were applied during the year:

Average rate Reporting Rate 2014 2013 2014 2013 N'000 N'000 N'000 N'000 US Dollar - - - -

28.10 Interest rate risk profile: In managing interest rate risk, the Company aims to reduce the impact of short-term fluctuations in earnings Dividend pay-out practices seek a balances between giving good returns to shareholders on one hand and maintaining a solid debt ratio on the other hand.

At the reporting date the interest rate profile of the Company’s interest-bearing financial instruments was:

Fixed rate instruments 2014 2013 N'000 N'000

Financial liabilities 522,548 462,005

54 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FINANCIAL RISK MANAGEMENT (continued) 28.11 Capital Risk Management The Board’s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. Management monitors the return on capital, which the Company defines as result from operating activities divided by total shareholders’ \ equity. The Company’s debt to adjusted capital ratio at the end of the reporting period was as follows:

2014 2013 N N Total borrowings (note 14) 884,203 798,750 Less: Cash and cash equivalents (note 11) (364,196) (50,269)

Net debt 520,007 748,481 Total equity 931,204 830,197 Total capital Employed 1,451,211 1,578,678 Debt to adjusted capital ratio 60.93 50.60

There were no changes in the Company's approach to capital management during the year. The Company is not subject to externally imposed capital requirements.

28.12 Financial assets and liabilities The fair values of financial assets and liabilities, being the carrying amounts are shown in the statement of financial position, are as follows: Financial Liabilities Assets at Fair Financial Trade & other Value (OCI) assets receivable Total Total N’000 N’000 N’000 N’000 N’000 N’000 31 December 2014 Marketable securities (Available for sale financial assets) ------Borrowings/Loans - - - - 884,203 884,203 Trade and other receivables / payables - - 261,865 261,865 895,974 895,974 Cash and cash equivalents - 364,196 - 364,196 - - - 364,196 261,865 626,061 1,780,177 1,780,177 31 December 2013 Marketable securities ------Borrowings/Loans - - - - 798,750 798,750 Trade and other receivables / payables - - 196,019 196,019 732,739 732,737 Cash and cash equivalents - 50,269 - 50,269 - - - 50,269 196,019 246,288 1,531,488 1,531,489

55 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FINANCIAL RISK MANAGEMENT (continued)

28.13 Financial Assets and Liabilities (Cont'd)

The terms of the loans and receivables, and financial liabilities, all carried at amortised cost on the

statement of financial position are comparable with the terms of new similar instruments. Consequently,

management is of the opinion that the carrying values of these instruments materially approximate their

fair values as at the relevant dates stated.

The interest rates used to determine the discount estimated cash flows, where applicable are based on

external sources and were as follows:

2014 2013

Loans 15% 15%

Fair Value Hierarchy Fair Value

Level 1 Level 2 Level 3

31 December 2014 N'000 N'000 N'000

Investment in marketable securities - - -

Investment in subsidiaries - - -

- - -

31 December 2013

Investment in marketable securities - - -

56 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

29 Capital Commitments

There are no material commitment for capital expenditure not provided for in these financial statements.

30 Post Statement of Financial Position Events

The Company is on the concluding phase of its strategic restructuring exercise which includes the

issuing of rights issue to existing shareholders and realignment of assets.

31 Contingent Liability

Contingent Liabilities in respect of pending litigations as provided by the Company"s solicitor which

amounted to N30,228,206 (2013:N8,943,000) have not been provided for in these financial statements

as the Directors are of the opinion that the claims will not materialise.

32 Approval of financial statements

The Financial Statements were approved by the Board of Directors on 12th March, 2015.

57 MANAGEMENT TEAM

Ayinde Adegboyega Head, Internal Audit

Bajulaye Isaac Isola Olukayode Executive Director Consumer Production Manager

Ojelabi Dapo Fatanmi Omoniyi Quality Assurance Manager (Ag.) CFO (Ag.)

Abibu Adekunle Managing Director

Johnson Oluwatosin Ekpo Sharon Superintendent Pharmacist Asst. Mgr. Human Resources

Aso Johnson National Sales Manager

58 SHAREHOLDERS’ PROXY FORM

45TH ANNUAL GENERAL MEETING to be held at Federal Palace Hotel, 6-8 Ahmadu Bello Way, Victoria Island, Lagos State at 12 noon on Tuesday 28th April, 2015.

I/We * ...... (Name of Shareholders(s) in Block Letters) being a member of Pharma Deko Plc hereby appoint ...... **or failing him/her the Chairman of the meeting as my/our proxy to act and vote on my/our behalf at the Annual General Meeting of the company to be held on 28th April 2015 and at any adjournment thereof.

Dated this ...... day of ...... 2015

Shareholder's Signature ......

Number of Shares Held: ......

S/N RESOLUTIONS FOR AGAINST 1. To receive the audited Financial Statements for the year ended 31st December 2014, together with the reports of the Directors and Auditors thereon.

2. To re-appoint the Directors the following directors who retire by rotation: a) Mr. F.R.A Williams b) Mr. S.U Osai c) Professor H.A.B Coker

3. To re-appoint the Firm of SIAO (Chartered Accountants) as Auditors.

4. To authorize the Directors to fix the remuneration of the Auditors.

5. To appoint / re-appoint members of the Audit Committee.

6. To fix the remuneration of the Directors

7. To change the Registered Address of the Company from plot C15/3, Agbara Industrial Estate, Agbara, Ogun State to Plot C1/1, Agbara Industrial Estate, Agbara, Ogun State

Please indicate with an 'x' in the appropriate box how you wish your vote to be cast on the resolution set out above. Unless otherwise instructed, the Proxy will vote or abstain from voting at his/her discretion.

NOTES A member who is unable to attend and vote at the Annual General Meeting is allowed by law to vote by proxy. The proxy form should be completed, if the member will not be attending the meeting. If you are unable to attend the meeting, read the following instructions carefully. (A) Write your name in BLOCK LETTERS in the space marked * (B) Write the name of your proxy where marked ** and ensure that the form is signed by you and/ or any other shareholder (in case of joint shareholders) (C) If the shareholder is a corporate body, this form must be under its common seal or under hand of some officers or attorney duly authorized on the behalf. (D) To be valid, the executed proxy form should be stamped by the Commissioner of Stamp duties and must be deposited at the office of the Company Secretary no less than 48 hours before the meeting. Provision has been made on this form for the Chairman of the meeting to act as your proxy, but if you wish, you may insert in space marked ** on the form, the name of any person (needs not to be a member of the company) who will attend the meeting and vote on your behalf instead of the Chairman.

59 SHAREHOLDERS’ ADMISSION FORM

Please admit (insert shareholder's name) ...... or in his/her place Mr./Mrs,/Miss ……………………………………………………………to represent him/her, at the 45th ANNUAL GENERAL MEETING OF PHARMA DEKO PLC to be held at 12pm on Tuesday, April 28th 2015, at Federal Palace Hotel, 6-8 Ahmadu Bello Way, Victoria Island, Lagos State.

THIS FORM SHOULD BE COMPLETED, TORN OFF AND PRODUCED BY THE SHAREHOLDER OR HIS/HER NOMINEE IN ORDER TO GAIN ENTRANCE TO THE MEETING.

Please see proxy form overleaf

Apel Capital & Trust Limited 8, Alhaji Bashorun Crescent Off Norman Williams, Ikoyi, Lagos. Tel:01-8739028, 01-7401444, 01-7401445

Registrars

NAME AND ADDRESS OF SHAREHOLDERS

No. of Shares

60 AUTHORITY TO ELECTRONICALLY RECEIVE CORPORATE INFORMATION

We would like to introduce to our members/ shareholders to the electronic delivery of corporate information such as annual reports, financial statements and proxy form. This is in line with modern developments in electronic communications and is geared towards circumventing late receipt of corporate information.

Members may elect to this service, as an alternative to receiving paper copies of corporate information and materials. Members can elect to receive an electronic copy of Company's information via email or to receive such corporate information through a compact disc sent by post.

In the event that a member elects to use this service, Pharma Deko Plc will take all necessary steps to ensure that our members' information within our control is not used for wrongful or illegal purposes.

To take advantage of this service, kindly complete the authority to electronically receive information attached below and return to The Company Secretary at 1, Shagamu Avenue, Ilupeju, Lagos. Regards,

SOLOMON OSAKWE FOR: UNITY TRUSTEES LIMITED COMPANY SECRETARY 1, Shagamu Avenue, Ilupeju, Lagos

......

I / We ...... being a member / members of Pharma Deko Plc hereby authorise(s) the Company to send me /us and hereby agree to receive all future corporate information of the Company electronically.

Signature: ......

E-mail(s): ......

GSCS Clearing House Number (CHN): ……………………………………………..

Postal Address: ……………………………………………………………………………………

Telephone Number: ……………………………………………………………………………….

Date: ………………………………………………......

61 LIST OF UNCLAIMED DIVIDEND NO.18

1 ABACUS SECURITIES LTD. 89 AKANBI GABRIEL OLADIMEJI 177 ANOLUE APPOLLOS ANWUCHA 2 ABALABA MARGARET 90 AKANDE JOEL AGBOOLA 178 ANUEBUNWA JOSEPH ECHEFU 3 ABDULAI BABATUNDE SHITTU - 91 AKANDE JOSEPH OYENIYI 179 ANUEBUNWA,C.I GRACE &ANR.(ADMORS)/ANUEBUNWA 4 ABEGBO ADEKUNLE MOJIRAYO 92 AKANJI MICHAEL BADERINWA 180 ANUKPE WALTER JEMEJE 5 ABENGOWE CHINELE USUWA 93 AKANLE WILLIAM TOYIN 181 ANUNUSOR IHUOBA GODWIN 6 ABIODUN YISAU AKINWUNMI 94 AKAWUBA DOMINIC BIERE 182 ANWUTA AUGUSTINE UKE 7 ABORISADE JAMES OLUOKUN 95 AKESO FELICIA 183 ANYAKWO BENJAMIN CHUKWUMA 8 ABOYADE OJETUNJI 96 AKHIGBE JOSEPHINE ORITSEJITERISAN 184 ANYAMENE GABRIEL 9 ABU MUSA 97 AKIDELE COSMAS TAIWO 185 ANYANWU FERDINAND A. CUKWUDI 10 ADADE OLUKAYODE ADEYINKA 98 AKINABI SAMUEL ADEBAYO 186 ARABA ADEKUNLE BABATUNDE 11 ADARA CHARLES KAYODE 99 AKINBODE AKANJI I. MR, 187 AREMU OYEKOLA ALADE 12 ADEBAJO JOSEPH TOLA 100 AKINDE MUSIBAU 188 ARIGUZO THEODIUS 13 ADEBAYO ADENIKE A. 101 AKINDELE GRACE ADEDOTUN 189 ARIMORO TITUS ADEBAYO 14 ADEBISI OLUBUNMI EMILY 102 AKINFENWA ADEWALE FAT 190 ARIOLU CHIKWE KENNETH 15 ADEBOWALE SHAKIR KOLEADE ADISA 103 AKINGBADE V.O. 191 ARO JOHN OYEDELE 16 ADEDOKUN NATHANIEL OLUBAYO 104 AKINGBOHUNGBE SOLA SINMIDELE 192 AROGUNDADE ASSAN OLASUPO 17 ADEDOTUN EZEKIEL AJIBADE 105 AKINLADE PHILIP AMA ASAGBA 193 ARUKWE SONNY 18 ADEFALA MODUPE OLUWATOYIN 106 AKINLOYE JAMES DUROJAIYE AJAYI 194 ARUM JOHN AMARACHUKWU 19 ADEGBEHIN.GBE OLANIJI 107 AKINSEYE AKINDELE 195 ASAGBA TAJINERE ANTHONY 20 ADEGBITE JACOB AOEBAYO 108 AKINTOLA ATTERE JOHN 196 ASHARA SAMUEL OLATUNDE 21 ADEGBOYEGA MARTINS AYOADE 109 AKINTOYE ABIOLA OMOLARA 197 ASIEGBU CHRISTIAN CHUKWUEMEKA 22 ADEJO-OGIRIOGA 110 AKINTOYE ADESEGUN 198 ASOMGBA ISAAC NGBUDOMOBI 23 ADEKOYA ADETAYO 111 AKINTULA OLATUNJI MATHEW 199 ASSAN ORIYOMI TOMIWA 24 ADELAJA NOFIU 112 AKINWANDE ABAYOMI 200 ATERU CLEMENT 25 ADELAKUN JOHN OLUSEGUN 113 AKINYEMI GABRIEL ADESHOKAN 201 ATSIANGBE-NUMA ERIC ANOMUAREN 26 ADELEKE OLALEKAN 114 AKINYINKA SAMUEL CHRISTIAN 202 AWOLAJA ADEWALE 27 ADELESI FELICIA OLA 115 AKITI OLUSOLA SAM. 203 AYENI ADENIKE AYINKE 28 ADELEYE CORNELIUS OLUFEMI 116 AKITI OLUSOLA SAMUEL 204 AZAKA SAMSON UDEOSO 29 ADELEYE EDWARD ADEN IRAN 117 AKOBUNDU ONYEMIUCHE ANTHONY 205 BABATUNDE LATEEF ADEKUNLE 30 ADELU GANIYU LAYIWOLA 118 AKPABIO EKPEDENE OBOT 206 BABATUNDE YISAU 31 ADEMUYIWA OLATUNBOSUN TAOFIK 119 AKPAN CLEMENT, ESSIEN 207 BAMGBALA SALISU ALADE 32 ADENIJI RAFAT OLAKUNLE 120 AKPAN EMA EKPENYONG 208 BANCORP NOMINEES LTD., 'ACCT LLJ' 33 ADENIYI JOHN OLASENI 121 AKPAN MONDAY ETUK 209 BARUWA ABRAHAM BABATUNDE (DECD)/(ADMORS)) 34 ADENIYI NOSIRU ADEBAYO 122 AKPARORUE GODFREY EDOMO 210 BARUWA ADEYINKA 35 ADEOKUN MATHEW 123 AKPATA RICHARD IYAMU 211 BASSEY ESSIEN 36 ADERIBIGBE TEMILADE T. ENIAFE 124 AKPURU SAMUEL EDE 212 BEDIARE STEPHEN EIYEPESAN 37 ADEROUNMU JANET ADENIKE 125 AKUBUDE JOHN 213 BEGG KOFOWOROLA FOLAYEMI 38 ADESANWO SAMUEL BABATUNDE 126 AKUKUBE SIMON 214 BEJI EDWARD 39 ADESIGBIN, G.A.(MRS) & ORS (FXORS)/ADESIGBIN l 127 AKUNWATA IFEOHIDERE SAMUEL 215 BELL-GAM DIENYE SOFIRI 40 ADETOLA BOSE 128 ALABI YETUNDE OLUYEMISI 216 BELLO ABDUL YEKINI 41 ADETUNJI SIMEON ADEGBOYEGA 129 ALABI-MACFOY SIKIRU ALHAJI, 217 BELLO TUAFIDI MOHAMMED 42 ADEYEFA YINUSA, GBADEBO(DECD) 130 ALADE SAMUEL OJO 218 BELLO ZAKARI MUHAMMADU 43 ADEYEMI ADEDAPO ISHOLA 131 ALADEJUYIGBE GRACE IBIRONKE 219 BELO OLATUNJI KOLADE 44 ADEYEMI ADEDAYO OLAOLU 132 ALADENIKA OLU , 220 BIOSHOGUN MUTIU OMOTOLA 45 ADEYEMO MICHAEL AYODELE 133 ALAGBADA OMOLARA 221 BOVI SAMUEL OKPOMOUTOHWARE 46 ADEYEMO OYEWOLE 134 ALALADE, VICTORIA 0 & ANR. ADMOR. OF ALALADE 222 BRAIMOH OSIKEMUWE OIBOH 47 ADEYERI JOSEPH BABALOLA 135 ALAMUTU MARGARET DADA 223 BROWN EDNA IGBANIDUARI JUWONYEA 48 ADIKIBE SYLVESTER MODENE 136 ALFONSO IBIDAPO ABIODUN 224 BURAIMOH DELE 49 ADMIN-GENERAL PUB. TRUSTEES UDEJI, BONIFACE 137 ALFRED ELIZABETH OLU 225 CARSON RANDY 50 ADU CHRISTIANA OLUFUNKE 138 ALI JIM BELLO 226 CHIAZOR PATRICK ODIRA 51 AFANEKU STELLA IFEYINWA 139 ALIYU USMAN, MUHAMMED 227 CHIGBO NNAJI 52 AFANG-IDE EMMANUEL 140 ALLI-OTUN MORUFU 228 CHIKELUBA GODWIN EKEJEKWU 53 AFINNIH AMUDATU ABOLORE 141 ALLIU AHMADU 229 CHIKERE ROBERT WOLU CHIKERE 54 AGBAKWURUJI AGUWA IKPEAZU 142 ALO REMI 230 CHIKWENDU CHIKWUBUIKE CLIFFORD 55 AGBOLADE OLALEKAN F. MR, 143 ALOBA UWAIFO AKIN 231 CHILOKWU AUGUSTINE NWORA 56 AGBORUME MARTINS, AYO 144 ALUKO OLAKUNLE 232 CHUKWURA MATHAIS NNAIFE 57 AGHOMATSE ORITSHEGBUBEMI SAMUEL 145 ALUYA MARTHA 233 COKER ADEBOWALE 58 AGIM GODWIN 146 AMABEBE PRETTY 234 COKER AUSTIN ABOLADE 59 AGORO BURAIMO 147 AMADI COSMAS MBACHU 235 COOKEY SYLVANUS JOHN SODIENYE 60 AGORO COMFORT OREDOLA 148 AMAECHI MOSHE CHIJINDU 236 DADA CHRISTOPHER ADESHEGUN 61 AGORO FOLORUNSHO 149 AMAIFEOBU FIDELIS NWOYE 237 DADA GOKE 62 AGORO OLUFUNKE 150 AMALU ROSALINE UKAMAKA 238 DALIL ABUBAKAR ARDO 63 AGORO RASHEED ABIMBOLA 151 AMASO DABAYE ATIEKE 239 DALLEY BABATUNDE OLATOKUNBO 64 AGORO SALAMOT ALAKE 152 AMASO DABAYE ATIEKE (DR) (ADMOR) AMASO, MBA 240 DALLEY OYEBOLA OLUREMI 65 AGORO WAHHAB 153 AMES LIMITED 241 DANLAMI MUHAMMADU 66 AGOYE ISAAC A. MR, 154 AMIATOR CRISELDA 242 DARE JOSHUA OLANREWAJU 67 AGU CHRISTOPHER OGBOZO 155 AMIATOR OMOAGHE 243 DAVWIN VENTURES 68 AIL SECURITIES LIMITED 156 AMIATOR ISEDENU 244 DAWODU ANDREW 69 AINA ALICE SHOLA 157 AMIATOR QUINTINE 245 DEFENCE INDUSTRIES CORP. OF NIG. 70 AITSEGAME ADDRESS AMEN 158 AMIATOR STEVE 246 DIKE ALANEME RICHARD 71 AIYELERO A. 159 AMIATOR THELMA 247 DIKE AUGUSTINE OKELUWA 72 AIYEONEGUN TAIWO 160 AMINU ADEDIRAN 248 DIM SAMUEL CHUKWUDUM 73 AIYESIMOJU, ABAYOMI (DR) & ORS, EXORS 161 AMOSUN MUIBI 249 DISU MUSA OLAWALE 74 AJADI MURITALA ADEROGBA 162 AMRASA AMOS DAFE 250 DISU OLATOKUNBO AZEEZ 75 AJALAADEYEMI 163 AMULEYA JOHN MR, 251 DISU OLUFUMILAYO 76 AJANI VICTORIA SIJUWADE 164 ANABA KENNETH EMEKA 252 DISU-SULE ANNE OLUSEYI 77 AJAYI KOLAPO MOSES 165 ANAEKE CORNELIUS ONYEMAECHI 253 DOLAPO FELIX ATOYEBI CHIEF DECD 78 AJAYI TAOFIK MR, 166 ANAELI ALOYSIUS 254 DOSUNMU SAKA AYINLA 79 AJELETI OLAMIJULO 167 ANAPUSIUM CHIGOZIE LEO 255 DUKE UMO ENEYO 80 AJENE EJIKE - 168 ANAZODO DOROTHY HAGIDE 256 DUNKWU MAURICE NWABUNWANE 81 AJIBOLA BOLA ADESUMBO 169 ANAZODO FELIX CHUKWUJEKWU 257 DURU CHUKUDI CANICE 82 AJISEBUTU, BRIDGET A. MRS & ANR ADMO FALOLA 170 ANAZODO FELIX CHUKWUJEKWU 258 DURU CHUKUNENYE 83 AJOBO STEPHEN ADESANYA 171 ANAZODO ROSE ELINMA 259 DURU ONUOHA GODWIN 84 AJULUCHUKWU SAMUEL CHUKWUDI 172 ANEKE THOMPSON SUNDAY 260 DURUIHUOMA ERAMUS IHEDIRIMADU 85 AJUWAPE PAUL OMOTUNDE 173 ANEKE, PATIENCE & ANR (ADMORS) ANEKE, SILVA 261 EBOKA CYRIL NNAMDI ILO 86 AKABILO STEPHEN 174 ANENE PATRICK SUNDAY 262 ECHEFU STEPHEN SUNDAY UKADIKE 87 AKABUEZE BEN IFEANYI 175 ANI EMMANUEL 263 EDAH-DIKE ODJUS 88 AKAGHA E.N.I.MR (DECD)/(ADMORS)) MRS P.O. 176 ANICHIE JOSEPH EMEKA 264 EDEBOR BENJAMIN OKHUOROBO EDISON

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265 EDEKI EKERE PALMER 353 IBE CHRISTOPHER ONWUKA 440 LATINWO OLUYEMISI 266 EDET EKPONWAN NYONG ADMORS OF EDET, NYANG D 354 IBE DECLAN UGOCHUKWU 441 LATINWO OMONIYI 267 EDOHO CLETUS EDET 355 IBE, FELICIA NWADIE& ANR ADMRS IBE, EMEKA SU 442 LAWAL BASIRATU ADETUTU 268 EGBUNA EDITH CHIZOMAM ADMORS EGBUNA, I. IKE 356 IBELEGBU MARY 443 LAWAL OMATAYO l 269 EHIZOGIE MARY IGIEMA 357 IBIKUNLE EMMANUEL ADEMOLA 444 LAWAL OMOTAYO 270 EJI-LASISI SHERIFAT 358 IBIROGBA IBUKUNOLUWA 445 LAWRENCE CONSTANCE AMANO 271 EJINKONYE AFIAH FRED 359 IBITOYE ANDREW 446 LEE JAMES LIONEL 272 EJIOGU BENJAMIN OZODO 360 IBRAHIM YAYAH OLUROTIMI 447 LIADE NURUDEEN OLATUNDUN AKANGBE 273 EKAIRIA FELIX 361 IDEDIA JOHN 448 LIPEDE OYEBADE OBA 274 EKANIYERE OSAGIE AGBONTA ANDREW 362 IDIKA JOSEPH 449 LOPEZ JIDE 275 EKEMEZIE SIMON NWAFOR 363 IDOWU OLAWALE OLASUPO 450 M.L. SECURITIES LTD. 276 EKO SIMEON ADEGBOYEGA 364 IDOWU STEPHEN OLUTUNDE 451 MABAWONKU LAWRENCE AYODELE 277 EKONG EKONG SUNDAY 365 IFEDI MARTHA ODEINYINKA 452 MACARTHY MABEL M. SOFOLUWE 278 EKPENYONG SUNDAY 366 IFEDI MATTEW OKONKWO 0 453 MACHEBE CHARLES IBEKWE 279 EKPOH JUDITH UJIRO 367 IFELOWO FELICIA, AMUAMUZIA 454 MADARIKAN TINUOLA OLAYIDE 280 EKUNDAYO AMBROSE GBADEBO 368 IFELOWO FELICIA, AMUAMUZIA 455 MADU FIDELIS CHUKWUEMEKA 281 EKWEJUNOR-ETCHIE TOJU 369 IGBOAYAKA LIVINA NWAKA 456 MADU FIDELIS CHUKWUEMEKA 282 EKWO ANTHONIA CHIEBONAM 370 IGBOKOYI OLUFUNKE ADEOLA 457 MADUKWE G 283 EKWUNIFE GODWIN CHUKUS NWANNA 371 IGBOKWE GEORGE CHUKWUMA 458 MAINLAND TRUST LIMITED RC 86962 284 ELENDU HARRISON IHENDU 372 IGBOKWE, FLORENCE& ORS ADMORS OF IGBOKWE DOM 459 MAJEKODUNMI VICTORIA IMAMIYE 285 ELIJAH RAPHAEL 373 IGE SAMUEL OLADIPO 460 MALIKI MUSADIK LANRE 286 EMEFIELE PAUL ACHOLEM 374 IGWE SUNDAY SANDEY IGBINOGHENE 461 MARTYNS-YELLOWE T.I. DR. 287 EMELIKE NWADUITO 375 IHEAKU EDWIN NNECHETA 462 MASAGBOR CHRISTIANA A & ANR.ADMORS MASAGBOR 288 EMEONA OBOH 376 IHEANACHO BOSSMAN FRANCIS UCHE 463 MBA CHRISTOPHER 289 EMMANUEL NWABUEZE OFOR 377 IHEANACHO HYACINTH NWOSU 464 MBA MARCEL CHIDOZIE 290 EMOBENAGHAN WILLIAM OKUKU 378 IHEANACHOR ZITA ONYETUGA 465 MBACHU EMMANUEL CHUKWUKA 291 EMONIDO EMMANUEL EMOKARO 379 IHESIABA ANTHONY OCHIABUTO CHIMEZIE 466 MBADIWE PHILIP CHUKWUEMEKA 292 EMUZE EFOSA 380 IHEUKWUMERE CHIDIRIM ANYALEWECHI 467 MBANEFO CHIEKA 293 ENANG ANDREW UDOH 381 IJEBOI VICTOR O. 468 MBANU OKEZIE SYLVESTER 294 ENENMOH ANGELA U. 382 IKEAKA CHUKWUNONSO KENECHUKWU 469 MBONU AZUBUIKE FIDELIS 295 EQUITY SECURITIES LTD. 383 IKEANYIONWU EDWIN NNAMAKA 470 MCEBONY VENTURES 296 ERIKITOLA BAYO 384 IKEME GLADYS UCHENNA 471 MEMEH DAVID URUNTODEN 297 ERIKITOLA BRIGID 385 IKENTA NWAIKENTA PATRICK 472 MENDES ANTHONY IDOWU AKINOLA 298 ERUBA REGINALD AKARAGUGO 386 IKPEME ANNE INYANG 473 METU CHIDI 299 ESHIETT MAYEN MODUPE 387 ILUGBAMI JOHN F. 474 MGBACHI BRENDAN ARINZE CHARLES 300 ETIM FREDERICK EFIOK 388 IMEVBORE OLOLADE ABIOSE 475 MGBEMENA SIMEON SUNDAY 301 ETIM PATRICK EDEM 389 IMO GODWIN CHINKWE ENYI 476 MIACHI THOMAS AJAYI 302 ETOLUE GEOFFREY CHUKWUEMEKA 390 INONE LAWRENCE UWANGUETIMEYIN 477 MMEREOLE CHUKWUNYERE CHARLES 303 ETTE OKON DAVID 391 INSAIDOO TESLIM SAM 478 MODEBE CELESTINE 304 ETUK JOSEPH SYLVESTER 392 INTERSTATE SECURITIES LIMITED 479 MOHAMMED TESLIM NUNOO 305 ETUKUDOH AKPAN JUDE 393 INVESTICON NIGERIA LTD. 480 MOHAMMED UMARU ALHAJI 306 EWERO MATHEW OKAGBARHE STANLEY 394 INYANG AKPAN AMOS 481 MOJEKWU JOE OLUFUMILAYO 307 EWOR KOHAN SAMUEL 395 IRIBHOGBE, A. OLUREMI MRS & ANR (ADMORS) OSU 482 MOORE ABDUL SALAM 308 EWUZIE JONATHAN OKEAFO 396 ISHOLA ADEBIYI 483 MORA MUHAMMED IWUWA 309 EYO LEONARDO 397 ISHOLA AMUSAN 484 MOSANYA MICHAEL CHUKWUEMEKA 310 EZE EUGENE 398 ISIBOR SOSA 485 MOTUETAN PETER AGBOGIDI 311 EZE OKECHUKWU PHILIP 399 JAIYESIMI ADENIYI ADEBULEGBE 486 MULTINATIONAL INV. SECURITIES LTD. 312 EZE WILLIAM IFEABUNIKE 400 JAIYESIMI OLADELE 487 MUONEKE OKOYE BONIFACE 313 EZEAKOR CLEMENT, IFEANYICHUKWU 401 JAIYESIMI ROTIMI AYODELE KAYODE 488 MURITALAB KASSIM OLATUNJI 314 EZEH EZEMONYE MICH. 402 JARIKRE LAWRENCE NINIORITSEATAN 489 MUSTAPHA ABUDUL GAFARI OLA 315 EZEKIEL ADEBOLA 403 JEGEDE OLUWAFUNMILAYO 490 MUTIYU OKUYERA 316 EZEKWEM SIMON 404 JESSE ELIZABETH GHOMORAI 491 NA INDO LITI 317 EZENAGU VINCENT NWEKE 405 JIBUNOH FELIX CHUKUMA 492 NDUKA PIUS 318 EZENEKWE C.S. 406 JIJIWA AISHAT ABUBAKR 493 NDUKWE INNOCENT ANAMELE 319 FADERO FRANCIS F. FOLORUNSO 407 JINADU LAMIDI OLANIRAN 494 NEGOTIABLE FINANCE LIMITED 320 FADIPE OLAMIDE ETHEL 408 JINADU USMAN BABATUNDE 495 NENE ARIT 321 FAGBOHUN OLATOKUNBO AYORINDE 409 JOE ISAAC ORITSESEWEYINMI 496 NEZIANYA STELLA 322 FAKAYODE HENRY SUNDAY 410 JOHN DOMINIC ETIM 497 NGBAKOR IFEOMA 323 FAKOYA MUDASIRU OLUGBEMIGA 411 JOHN OLUBUSAYO 498 NJOKU EUNICE K. 324 FAMAKINWA CLEMENT ADEMUSAYO 412 JOHNSON FREDWIN AKINTUNDE 499 NJOKU PAUL EKE-UGOMA NJOKU 325 FAMAKINWA CLEMENT ADEMUSAYO 413 JOLAOSHO AJIBOLA OLALEKAN 500 NNAMDI THEODOR 326 FAMBEGBE STEPHEN OLUFEMI 414 JOSEPH DANIEL INNOCENT r 501 NNOLIM ALEXANDER OBUMNWE 327 FAMUYIDE OMOLOLA 415 KAKA MICHAEL AFOLABI /’ 502 NTUK JOHN NTUK EKANEM 328 FAPOHUNDA EDWARD ABIODUN 416 KALEGHA JOHN O. 503 NWABUIKWU ESTHER NWAMAKA 329 FARO RAUFU BURAIMO 417 KALU MARCELINUS 504 NWADIUKWU CHUKWUEMEKA GODWIN 330 FASINTEI CHRISTIAN KODEIKIMI 418 KAMALU JULIUS 505 NWAFOR EMMANUEL IDU 331 FASIPE CLEMENT OYELAKIN 419 KASSIM ADEKUNLE 506 NWAFOR LIVINUS 332 FATOGUN HUSSAN ALAMU 420 KEKEREOGUN LAWAL BABAJIDE(ADMOR) 507 NWAGBARA GODFREY 333 FBN NOMINEES LIMITED KEKEREOGUN 508 NWAIGWE ROSE MARY 334 FIDELITY UNOIN SECURITIES LTD. 421 KOIKI KOLA ABASS 509 NWAJI MARTIN NWEGE 335 FINANCIAL TRUST CO. NIG. LTD. RC 17736 422 KUDAISI AYODELE SARAT 510 NWAJIDE MICHAEL ONWUAMAEGBU 336 FINECOUNTRY JOSIAH BALAFAMA 423 KUFORIJI NELSON ADEYEMI 511 NWAKAMA GODWIN CHUKWUYE 337 FISCHER OTTO ANDREW 424 KUSIMO JOSEPH OLUWOLE SODIPE 512 NWANI SAMUEL 338 FOWORA EMMANUEL OLUFEMI 425 KUTI OLUSEGUN 513 NWANKWO JOHNBOSCO IFEAACHO 339 FRANCIS MORDI CHUKUJI 426 LADEGA JULIANAH OJUOLAPE 514 NWANKWO YOUNG AMAECHI 340 FREEMAN OLUSEGUN 427 LADIPO JUBRIL ADETUNJI 515 NWIGWE AUGUSTINE EMENALOM 341 FYNEMAN KALIO NANA TAMGBEIN 428 LAKPAR URINRIN MICHAEL 516 NWIZU RAPHAEL NKWOKA 342 GBADAMOSI IDOWU PHILIP 429 LATINWO ABIMBOLA 517 NWOBU GABRIEL CHUKWUEMEKA 343 GBADEBO BENJAMIN ADEBO 430 LATINWO ABIODUN 518 NWOBU GODWIN CHUKWUKELUE 344 GBOBANIYI SUWEBAT OLORUNTOYIN 431 LATINWO ADEBAYO 519 NWOKEDI MARTHA LORETTA NNEKA 345 GBODIMOWO ALFRED SUNDAY 432 LATINWO ADEJARE 520 NWOKEDI SAMUEL 346 GEORGE VICTOR JOSHUA JOSEPH 433 LATINWO ADERIBIGBE 521 NWOKEOHA NATHANIEL IFEANYI JACOB 347 GISANRI AFOLABI ADELEKE J 434 LATINWO DASOLA 522 NWORAH DIKE 348 GIWA KAMALDEEN ALADE 435 LATINWO MOJISOLA 523 NWOSU CHRISTOPHER UDEZE 349 HARUNA ABIMBOLA. K. 436 LATINWO OLABIMPE 524 NWOSU JAPHET 350 HASSAN WAHAB 437 LATINWO OLADOSU 525 NZERIBE BERNADETTE NTIANU 351 HAUWA ADAMU 438 LATINWO OLAPERI 526 OBAKPOLOR SAMSON IGHOGBOYA 352 HERBERT-JUMBE ROGERS EGELE 439 LATINWO OLUDOLAPO 527 OBAOWO JOHNSON OLUKAYODE

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528 OBATA COMFORT KANAYO 616 OKAM AUGUSTINE W. UZO 704 OPAGUI RAPHAEL NNABUIKE 529 OBATA YOUNG MOHA 617 OKARAME OKONKWO GEOFFREY 705 OPARAOCHA TITUS 530 OBI CAROLIN ONYECHIYAKWERE 618 OKEAHIALAM FRANCIS IKECHUKWU 706 OPE-AGBE NOIMOT OLUWATOYIN 531 OBI DENNIS OGBONNIA 619 OKEDARA EMMANUEL 707 OPEODU ALBERT 532 OBI PETER OHANEDU 620 OKEKE IBE SYLVANUS 708 OPEODU ALBERT 533 OBI VERONICA GERTRUDE 621 OKENIYI EMMANUEL OLADAYO 709 OPUTA OTUTU FRANK 534 OBIDEYI ASEPENISEOLUWA VINCENT 622 OKERE FREDRICK 710 ORAKA SIMON CHUKWUNNEKE 535 OBIDEYI JONA ITEOLWAKISI MORENIKE 623 OKERE UMU FREDRICK 711 ORDAN BLESSING 536 OBIDIKE SUNDAY OKOYE 624 OKEREKE ANTHONY MADUMERE 712 OREAGBA TAMURAT OLABISI 537 OBIKO WILLIAM 625 OKEREKE PETER CHUKWUDIMMA 713 OSAI LAWRENCE NDUKA 538 OBINALI CHRISTIAN UMUNNAKWE 626 OKESANYA KOLAWOLE 714 OSHEN JOSEPH A. 539 OBINNA FERDINAND OBI 627 OKESINA ADEKUNLE 715 OSIEBE JOHN JOSIAH 540 OBIOMA ONYEDIKACHI 628 OKNKWOR MATTHEW OKEKE 716 OSINOWO MOLARA 541 OBONG EDO 629 OKOJIE CHRISTOPHER G. 717 OSUNKOYA JOSEPH OLADELE 542 OBUNADIKE IBEBUNAN FREDERICK 630 OKOLI BERNARD N. 718 OTEH MADUKA IKEH 543 ODEBISI SHITTU ADEREMI 631 OKON IGUO MONDAY BASSAY 719 OTOMA NATHAN IREJU 544 ODEBIYI JAMES BOLA K 632 OKONA EMMANUEL AKAM 720 OTTUN RAJI SADIKU 545 ODEJIMI, OLUBISI & ANR ADMORS OF ODEJIMI, JO 633 OKORIGWE CHIME CYPRIAN 721 OTUKOYA RAZAK ADEKUNLE 546 ODELEYE FOLORUNSO OLU 634 OKORO THEOPHILUS 722 OVAJE NAOMI ARUOREZI, DR 547 ODERINLO OLUBUNMI OLUFUNKE 635 OKOROGBONA VICTOR 723 OWOLABI FASAKIN "HOLD" ALLEGED DECEASED 548 ODIBELI CHRIS. M. SMITH 636 OKOROJI LINUS EZEALA 724 OWOPEJU SAMUEL OLAWOLE 549 ODILIBE PATRICK BESCO CHUKWULOZIE 637 OKOROMAN IGNATIUS ETOYEAKU 725 OWORU OLUGBEMISOLA 550 ODOGBE FIDELIS 638 OKOSISI BONNY OBIAKWANA 726 OWOYELE LANRE 551 ODU CYRIL AKPORUERE 639 OKOYE TIKO 727 OWUAMANAM ATHANASIUS CHUKWUNYERE 552 ODUBANJO CHRISTOPHER AIYEDUN 640 OKOYEOCHA CHIDI JOSEPH 728 OYEBADEJO OLUFUNMILAYO ABOSEDE 553 ODUEKUN FUNMILAYO 641 OKPANACHI JAMES ACHEMU 729 OYEKAN AFOLABI 554 ODUEKUN OLADAPO 642 OKRIGBOLOR JOSEPH 730 OYEKANMI OMOLARA JOSEPHINE 555 ODUJEBE HENRY ADETOLA 643 OKUBALU GABRIEL ANIEMENA 731 OYEKANMI SULE AJAGBE 556 ODUKALE ALICE OMOLOLA 644 OKUDO EDWARD CHIOBI 732 OYINLOYE SYLVESTER ADEOTI 557 ODUKALE MARIAN FOLASHADE 645 OKUMAGBA DANIEL ETSOFONE TORIMI 733 OZUZU CHRIS 558 ODUKALE SAMSON OLUFEMI 646 OKUNLOLA KOLA OBADEGESIN 734 PARK CORDON WILLIAM 559 ODUMADE W.O. 647 OKUNNU HABEEB BABATUNDE 735 PASE JOHNSON OLUBUKUNOLA 560 ODUMUYIWA CHRISTOPHER ADEFEMI 648 OKUNRINBOYE CHARLES ADEREMI 736 PERRIRA ANTHONY OLATUNJI 561 ODUNBAKU SAUBANA ALABI 649 OKUNUBI GABRIEL ODUWOLE 737 PHILIPS KEHINDE 562 ODUNLAMI ABIMBOLA 650 OLAAJE AJEBIYI, A 738 PINSOKAN ADEDEJI RAPHAEL 563 ODUNSI BABAJIDE ADEOLA 651 OLABANJI KEHINDE ADEBAYO 739 PLURAL LIMITED 564 ODUYEMI OLAYINKA 652 OLABITAN AKINOLA MATHEW 740 POPOOLA EMMANUEL OLUFEMI 565 OFOR HELEN OGENNA 653 OLABODE LATEEF OLANREWAJU 741 RABIU MORIAMO 566 OGBEBO AMREMUBURE B. 654 OLADEINDE GILBERT AFOLABI DESALU 742 RIMS UNIT TRUST FUND 567 OGBOLU ANTHONY IKEM 655 OLADEJO ROGERS OMOTAYO 743 ROBERTS LATIFAT ADETEJU 568 OGBUNUBI JOSEPH 656 OLADEPO JIMOH AKINPELU 744 SALAAM FATAI OWOLABI AGBAJE 569 OGEDENGBE EUNICE BOLAJI 657 OLADIPUPO OLURANTI 745 SALAKO MARCOF ADEREMI 570 OGILEGWU JOHN 658 OLADIRAN ISRAEL SUNDAY 746 SALAMI LAYI 571 OGIRI COMFORT E. 659 OLADITI TUNDE 747 SALAWU AKINTOYE IDOWU 572 OGUAGHA SIMON SUNDAY CHUDE 660 OLAINU-ALADE BABADOLA, 748 SALAWU LATEEF ALAGBE 573 OGUAGHA THERESA 661 OLAJIDE NICHOLAS OMOTARA 749 SANI MERO SOLA ALAKE 574 OGUAH, GABRIEL A.A. & ANR. ADMORS. OF OGUAH 662 OLAOBAJU OLAJIDE V 750 SANI SHETTIMA AUDU 575 OGUERI EMMANUEL 663 OLAOYE BILIKISU BOLANLE 751 SANNI NURUDEEN 576 OGULEDO CHRISTOPHER CHINEDU 664 OLAPO ISAAC DELE 752 SANWO PATRICK AGBOLADE 577 OGUNBERU ADEMOLA 665 OLAYIWOLA TOBBY M. 753 SAVAGE ADEBUKOLA ARIKE 578 OGUNBONA OLUWAYEMISI OMOSHALEWA 666 OLOGUNDUDU,MARGARET L. & ANR. EXORS. OLOGUND 754 SAWYERR ABRAHAM ALADE 579 OGUNBOR WINIFRED 667 OLOWU JOHN AYODELE TAIWO 755 SHAIBU KASIMU OSHOCHE 580 OGUNDANA OLUREMI OLUROPO OLUFUNMI 668 OLOYE AJAYI 756 SHIEJIR ROSE 581 OGUNDELE ADEMOLA DAVID 669 OLUGBANI MOHAMMED SAHEED TOLANI 757 SHITTU BASHIRU 582 OGUNDELE SAMUEL ADEBAYO 670 OLUKOLU ADETUTU 758 SHOAGA LATIFU ATANDA 583 OGUNDIPE BABAJIDE 671 OLUKOYA ALFRED ADEYEMI 759 SHOBANDE ABAYOMI OLU 584 OGUNDIPE ISAAC AKINBOBOLA 672 OLUOHA ONWUDIWE GEORGE 760 SHOBOWALE OLALEKAN OLA-OLU 585 OGUNKOYA SAMUEL OLAREWAJU ADEBISI 673 OLUSOLA OLUMAYIWA OLALEKAN 761 SHOLEYE OLATUTU 586 OGUNLADE AKINLOLU LUCAS 674 OLUTADE JOSEPH OLUWOLE 762 SHOMADE KAFILA BOLAJI 587 OGUNLADE FELICIA OLUBUNMI 675 OMEATA EMMANUEL CHUKWUMA 763 SHOPEJU CAROLINE MORENIKE 588 OGUNLANA JOHN BOLAJI 676 OMENIHE EZEKIEL ONOLOGBU O. 764 SHOPEJU EFUNYEMI 589 OGUNLEDUN FELIX ADEDOYIN GBADEBO 677 OMODARA JOSEPH EYITAYO 765 SHOSANYA MICHAEL ABIDEMI 590 OGUNLEYE ADEREMI AJIBOLA 678 OMO-IKERODA ABUBAKAR AKANBI 766 SHOYINKA BOLA.S. 591 OGUNLEYE GANYU ADEWALE 679 OMOLAJA SUNDAY O. 767 SHYLON YEMISI CLAUDIUS 592 OGUNLEYE JACOBS MICHAEL BIODUN 680 OMOLE JOSEPH ADEDEJO 768 SIGHA JERRY COUPLE WOYENGIEMI 593 OGUNLEYE JANET OLUFUNMILAYO 681 OMOREGIE JONATHAN EDOBOR 769 SOBOGUN ONENGIYEOFORI I. 594 OGUNLEYE TOLU.A. 682 ONABOLU OLUKUNLE ADENIYI 770 SODITAN ALBERT OLUSEGUN 595 OGUNLOWO MARY FADERERA 683 ONANUGA AYODELE 771 SODIYA OLUYEMISI 596 OGUNNAIKE CHRISTIE OMOLOLA 684 ONAYEMI ABAYOMI ADEWALE 772 SOJI AMUSU KOFFI 597 OGUNNOWO SUNDAY OLUTAYO 685 ONI ISRAEL OLUWADARE 773 SOLEYE AYOTUNDE OLUWOLE A. 598 OGUNREMI JOSEPH OLUSEGUN 686 ONI MODUPE ADEOLA 774 SONOIKI OLUBOLA OLUKOMIYO 599 OGUNSAKIN SAMUEL OMOLOLA 687 ONIYIDE OLUWOLE OLUYOMI 775 SOTANNDE SOLOMON ANR. (ADMORS.) SOTANNDE, F 600 OGUNSANYA EDWARD OLUFEMI 688 ONOBU BEN EBHOHIME 776 SOWUNMI MARGARET AYO 601 OGUNSUYI IDEMUDIA MATTHIAS 689 ONOVO CLEMENT NNAJI 777 SUMMIT FINANCE COMPANY LIMITED 602 OGUNWA MOSES AYODELE 690 ONU IFEANYI KEVIN 778 SUNDAY EDEM UKIM 603 OGWURU ISAIAH ONYEMAUWA 691 ONU PHILIP IHEYINWA PHILIP 779 TAIWO OLADELE A. 604 OHAKIM, ABIMBOLAF. & OTRS ADMORS OF OHAKIM 692 ONUIGBO NNENA OBIANUJU 780 TAIWO SAMUEL BANKOLE 605 OHANUGO WILLIAMS 693 ONUJIOHA LAZARUS UZOMA 781 TEJUOSHO SAMUEL ADETUNJI 606 OJE ISRAEL AYINLA 694 ONUWUGHALU DANIEL 782 THOMAS WILLIAM BABATUNDE 607 OJELABI PETER ADIGUN 695 ONWELUZO BENAETTE SAMUEL KANAYOCHUK 783 TOM BEE INVESTMENT LTD. 608 OJERINDE SAMUEL OLUYINKA 696 ONWUANIBE ANNE MARY 784 UBA CAPITAL AND TRUST LIMITED 609 OJI GODWIN CHUKUEMEKA 697 ONWUCHEKWA IDIKA 785 UBAH CHIJINDU BRUNO COLUMBA 610 OJIAKO ANENE IZU 698 ONWUEGBUCHU CHIMAOBINU EMMANUEL 786 UBANI CHIKA ANTHONY 611 OJIAKU MAZI OKORO 699 ONWUKWE DANIEL NWANKWO 787 UBEH RAPHAEL NDEM 612 OJIKUTU SAMPSON ADEBISI 700 ONYEDUM ISAAC OKAFOR 788 UCHEFUNA IGWENAGU BERNARD 613 OJO OLUFEMI ISAAC 701 ONYEGBULE A. NDUBUISI 789 UDE JOHN OTAKA 614 OJUKWU CHIDI VINCENT 702 ONYIA AUGUSTINE NDUDI 790 UDE LIVINUS 615 OKAFOR GODWIN 703 ONYIUKE JAMES NWAFOR EMELIFE 791 UDEAGHA AGUMADU ASIEGBU

64 LIST OF UNCLAIMED DIVIDEND NO.18 - CONTINUED

792 UDO INYANG CHARLES AKPAN 793 UDOFIA IME EMMANUEL 794 UDOH AFIONG EFEFIONG 795 UDOYE CECILIA O. 796 UDUKA HYACINTH IGWOWU 797 UGBAWA SIMEON OGBA 798 UGOCHUKWU CHRISTOPHER IZUAGBA 799 UGOH CHRISTOPHER UZOSIKE 800 UGOH JOSEPH 801 UGWOAGONWU JOHN 802 UGWU REBECCA EKENMA N. 803 UGWUEZE CHARLES ANIELO 804 UJOR BALOWIN OGBONNA 805 UJUAGU IGNATIUS CHUKWUEMEKA 806 UKACHUKWU EMMANUEL CHIBUNDU 807 UKACHUKWU UME ANTHONY 808 UMEADIM TITUS ONWUEEGBUSI 809 UMEJIEGO EKWUNIFE JOHN 810 UMOH EDET 811 UNACHUKWU BARTHOLOMEW NWANNA 812 UNACHUKWU BERTRAND UBA 813 UNAGWU DANIEL 814 USIM ROBERT NJIUWAOGU 815 USMAN BUKAR 816 UTODIO INNOCENT EKOMOBONG 817 UTODIO JOSEPHINE ENAKEME 818 UTSAHA JAMES 819 UTULU BENEDICT MBANEFO 820 UWADIBIE NAPOLAEN, CHUKS OKOLIE 821 UWADILEKE ANTHONY ONWUMECHURUBA 822 UWAOMAH PATRICK 823 UWERU GODWIN ORUGBA 824 UYIEKPEN A. GIWA-OSAGIE 825 UZONDU OGBONNA SAMSON 826 VERTEX INVESTMENT LIMITED. 827 VICTOR ADEMUYIWA 828 VIVA SECURITIES LTD 829 WILCOX GEORGE IBIWARI 830 WILLIAM AKINTUNDE I. OLADIPO 831 WILLIAMS ADENIYI 832 WILLIAMS LATIF AKANNI 833 WILLIAMS OLUREMI 834 WILLIAMS, FRACIS O. & ANR. ADMORS. WILLIAMS 835 WUSU OLUTONU OLUFUNMILAYO 836 YINUSA GANIYU 837 YONREN ERNEST HERMAN 838 YUSIFU SAKA DECD. 839 ZAKWAI ZARMAI 840 ZUBAIRU ALIYU

65 LIST OF UNCLAIMED DIVIDEND NO.19

1 A.G.BEST INDUSTRIES LTD 90 AKINGBADE V.O. 175 AZEEZ YEKINI ADEYINKA 2 ABACUS SECURITIES LTD. 91 AKINLOYE JAMES DUROJAIYE AJAYI 176 BABATUNDE YISAU 3 ABALABA MARGARET 92 AKINSEYE AKINDELE 177 BAKARE, ALHAJA MUTIATU & DRS ADMORS. TIJANI 4 ABDULAI BABATUNDE SHITTU 93 AKINTOLA ATTERE JOHN 178 BAMGBALA SALISU ALADE 5 ABDUL-RASHEED HALIMAT 94 AKINTOYE ABIOLA OMOLARA 179 BAMIRO BABASOLA, OLUWASEUN 6 ABDUL-SULAIMAN GBEMISOLA 95 AKINTOYE ADESEGUN 180 BARUWA ADEYINKA 7 ABIODUN TITILAYO AKANBI 96 AKINTULA OLATUNJI MATHEW 181 BASSEY ESSIEN 8 ABORISADE JAMES OLUOKUN 97 AKINYEMI BABATUNDE ALABI 182 BEDIARE STEPHEN, EIYEPESAN 9 ABOYADE OJETUNJI 98 AKINYEMI SAMSON AKINTUNDE OJO 183 BEGG KOFOWOROLA FOLAYEMI 10 ABU MUSA 99 AKINYINKA SAMUEL CHRISTIAN 184 BEJI EDWARD 11 ADADE OLUKAYODE ADEYINKA 100 AKITI OLUSOLA SAM. 185 BELL-GAM DIENYE SOFIRI 12 ADARA CHARLES KAYODE 101 AKITI OLUSOLA SAMUEL 186 BIOSHOGUN MUTIU, OMOTOLA 13 ADEBAYO ADENIKE A. 187 BOSUDE BABATUNDE SAMUEL 14 ADEBAYO BABATUNDE, SAMUEL 102 AKOBUNDU ONYEMIUCHE ANTHONY 188 BOVI SAMUEL OKPOMOUTOHWARE 15 ADEBAYO JOSEPH 103 AKPAN CLEMENT, ESSIEN 189 BROWN EDNA IGBANIDUARI JUWONYEA 16 ADEBISI OLUBUNMI EMILY 104 AKPAN EMA EKPENYONG 190 BURAIMOH DELE 17 ADEBOBUYI OLUWASEYI DEBORAH 105 AKPAN MONDAY ETUK 191 CAPITAL SECURITIES LIMITED 18 ADEDOTUN EZEKIEL AJIBADE 106 AKPARORUE GODFREY EDOMO 192 CENTRE-POINT UNIT TRUST SCHEME 19 ADEFALA MODUPE OLUWATOYIN 107 AKPATA RICHARD IYAMU 193 CHIAZOR PATRICK, ODIRA 20 ADEGBEHINGBE OLANIJI 108 AKUBUDE JOHN 21 ADEGBITE JACOB, ADEBAYO 109 AKUKUBE SIMON 194 CHIGBO NNAJI 22 ADEJO-OGIRI OGA 110 AKUNWATA IFEOHIDERE SAMUEL 195 CHIKWENDU CHIKWUBUIKE CLIFFORD 23 ADEKOYA ADETAYO 111 ALABI YETUNDE OLUYEMISI 196 CHRISTLIEB GROUP PROVIDENT FUND LTD. 24 ADELAJA NOFIU 112 ALADE SAMUEL OJO 197 CHUKWURA MATHAIS NNAIFE 25 ADELAKUN JULIANA ABIMBOLA 113 ALADEJUYIGBE GRACE IBIRONKE 198 COKER AUSTIN ABOLADE 199 DADA GOKE 26 ADELEKE OLALEKAN 114 ALAGBADA OMOLARA 200 DALIL ABUBAKAR ARDO 27 ADELEKE OLUWAKEMI ESTHER 115 ALALADE, VICTORIA O & ANR. ADMOR. OF ALALADE 201 DALLEY BABATUNDE OLATOKUNBO 28 ADELESI FELICIA OLA 116 ALAMUTU MARGARET DADA 202 DALLEY OYEBOLA OLUREMI 29 ADEMOLA OYE NIG. ENTERPRISES 117 ALAO ANNE MOJISOLA 203 DANLADI HASSAN 30 ADEMUYIWA OLATUNBOSUN TAOFIK 118 ALFONSO IBIDAPO ABIODUN 204 DANLAMI MUHAMMADU 31 ADENIYI JOHN OLASENI 119 ALFRED ELIZABETH OLU 32 ADENIYI KEHINDE EMMANUEL 205 DARE JOSHUA OLANREWAJU 120 ALI JIM BELLO 33 ADEOKUN MATHEW 206 DAVWIN VENTURES 121 ALLI-OTUN MORUFU 34 ADEOYE SOLOMON ABIOLA 207 DAWODU ANDREW 122 ALLIU AHMADU 35 ADERIBIGBE OLUWOLE KUNLE 208 DIKE AUGUSTINE OKELUWA 123 ALO REMI 36 ADEROUNMU JANET ADENIKE 209 DIM SAMUEL CHUKWUDUM 37 ADESANWO SAMUEL BABATUNDE 124 ALOBA UWAIFO AKIN 210 DINA CHARLES ADEBAMBO 38 ADESIGBIN, G.A.(MRS) & ORS (EXORS)/ADESIGBIN 125 ALUYA MARTHA 211 DISU MUSA OLAWALE 39 ADESOLA IYABO OLUBISI 126 AMABEBE PRETTY, 212 DISU OLUFUMILAYO 40 ADETOLA BOSE 127 AMAECHI MOSHE CHIJINDU 213 DISU SALAU ADISA 41 ADETOLA OLUSEYI OBABUNMI 128 AMAKWE CHIDIEBERE CHRISTIAN 214 DUKE UMO ENEYO 42 ADETUNJI SIMEON ADEGBOYEGA 129 AMASO DABAYE ATIEKE 215 DURU CHUKUDI CANICE 43 ADEYEFA YINUSA, GBADEBO(DECD) 130 AMASO DABAYE ATIEKE (DR) (ADMOR) AMASO, MBA 216 DURU CHUKUNENYE 44 ADEYEMI ADEDAPO ISHOLA 131 AMINU ADEDIRAN 217 EBOKA CYRIL NNAMDI ILO 45 ADEYEMI ADEDAYO OLAOLU 132 AMOBI BENEDICT ONOCHIE 218 ECHEFU STEPHEN SUNDAY UKADIKE 46 ADEYEMI PATRICK 133 AMOSUN MUIBI 219 EDAH-DIKE ODJUS 47 ADEYEMO MICHAEL AYODELE 134 ANAZODO DOROTHY HAGIDE 220 EDEBOR BENJAMIN OKHUOROBO EDISON 48 ADIKIBE SYLVESTER MODENE 135 ANAZODO FELIX CHUKWUJEKWU 221 EDEKI EKERE PALMER 49 ADISA RACHEAL OLUTAYO 136 ANAZODO FELIX CHUKWUJEKWU 222 EDET EKPONWAN N. ADMORS OF EDET, NYANG D 50 ADISA RAUFU ADEYEMI 137 ANAZODO ROSE ELINMA 223 EDOHO CLETUS EDET 51 ADISA STEPHEN, OLUDELE (ADMORS) 138 ANEKE THOMPSON SUNDAY 224 EGBUNA EDITH CHIZOMAM ADMORS EGBUNA, I. IKE 52 ADMIN-GENERAL PUB. TRUSTEES UDEJI, BONIFACE 139 ANI EMMANUEL 225 EGBUZIE COSMOS OBINNA 53 ADU CHRISTIANA OLUFUNKE 140 ANI WALTER EMMANUEL CHUKWUMA 226 EGERUO DAMIAN, IKECHUKWU 54 AFANEKU STELLA IFEYINWA 141 ANICHIE JOSEPH EMEKA 227 EHIZOGIE MARY IGIEMA 55 AFANG-IDE EMMANUEL 142 ANOLUE APPOLLOS ANWUCHA 228 EJIKEME KENECHUKWU UDE 56 AFINNIH AMUDATU ABOLORE 143 ANUKPE WALTER JEMEJE 57 AFU NSE LILLIAN 229 EJI-LASISI SHERIFAT 58 AGBAKWURUJI AGUWA IKPEAZU 144 ANUNUSOR IHUOBA GODWIN 230 EKAIRIA FELIX 59 AGHOMATSE ORITSHEGBUBEMI SAMUEL 145 ANWUCHUGHUM CORNELIUS NNEJI 231 EKANIYERE OSAGIE AGBONTA ANDREW 60 AGIM GODWIN 146 ANWUTA AUGUSTINE UKE 232 EKEMEZIE SIMON NWAFOR 61 AGORO COMFORT OREDOLA 147 ANYAKORA EDWIN CHUMA 233 EKONG EKONG SUNDAY 62 AGORO OLUFUNKE 148 ANYAKWO BENJAMIN CHUKWUMA 234 EKPENYONG SUNDAY 63 AGORO RASHEED ABIMBOLA 149 ANYAMENE GABRIEL 235 EKPOH JUDITH UJIRO 64 AGORO SALAMOT ALAKE 150 ANYANEDUM AUGUSTINE IHEARUEZE 236 EKUNDAYO AMBROSE, GBADEBO 65 AGORO WAHHAB 151 ANYANWU FERDINAND A. CUKWUDI 237 EKWEJUNOR-ETCHIE TOJU 66 AINA ALICE SHOLA 152 ARABA ADEKUNLE BABATUNDE 238 EKWO ANTHONIA CHIEBONAM 67 AITSEGAME ADDRESS AMEN 153 AREMU OYEKOLA ALADE 239 EKWUNIFE GODWIN CHUKUS NWANNA 68 AIYELERO ADEKEMI AND, FOLAKE (ADMORS) 154 ARIGUZO THEODIUS 240 ELENDU HARRISON IHENDU 69 AIYEONEGUN TAIWO 155 ARIMORO TITUS ADEBAYO 241 ELI BARTHLOMEW CHUKWUEMEKA 70 AIYESIMOJU, ABAYOMI (DR) & ORS, EXORS 156 ARIOLU CHIKWE KENNETH 242 ELIJAH RAPHAEL 71 AJADI MURITALA, ADEROGBA 157 ARO JOHN OYEDELE 243 EMELIKE NWADUITO 72 AJALA ADEYEMI 158 AROGBOFA JONES OLADEHINDE 244 EMEONA OBOH 73 AJANI VICTORIA SIJUWADE 159 ARUM JOHN AMARACHUKWU 245 EMIABATA MASHOOD BOLA 74 AJAYI TAOFIK MR, 160 ASAGBA TAJINERE ANTHONY 246 EMMANUEL NWABUEZE OFOR 75 AJELETI OLAMIJULO 161 ASHARA SAMUEL OLATUNDE 247 EMOBENAGHAN WILLIAM OKUKU 76 AJENE EJIKE 162 ASSAN ORIYOMI, TOMIWA 248 ENANG ANDREW UDOH 77 AJIJOLA ISAIAH OLAREWAJU 163 ATERU CLEMENT 249 ENENMOH ANGELA U. 78 AJISEBUTU, BRIDGET A. MRS & ANR ADMO FALOLA 164 ATTING ASUKWO EDET 250 ENE-OBONG ENE OBONG ASIBONG 79 AJOBO STEPHEN ADESANYA 165 AUDLEY PATRICK 251 ERUBA REGINALD AKARAGUGO 80 AJULUCHUKWU SAMUEL CHUKWUDI 252 ESHIETT MAYEN MODUPE 81 AKABUEZE BEN IFEANYI, 166 AWOFEKO TUNDE 167 AWOLAJA ADEWALE 253 ETOLUE GEOFFREY CHUKWUEMEKA 82 AKANBI GABRIEL OLADIMEJI 254 ETTE OKON DAVID 168 AWOLOWO S.O. 83 AKANDE JOSEPH OYENIYI 255 ETUK JOSEPH SYLVESTER 169 AWOLOWO SAMUEL OBALOLA 84 AKE OMESURU UMEJURU 256 EWERO MATHEW OKAGBARHE STANLEY 170 AWOSANYA EKUNDAYO OLAMIDE 85 AKESO FELICIA 257 EWOR KOHAN SAMUEL 86 AKIDELE COSMAS TAIWO 171 AYANFALU SUNDAY AINA 258 EWUZIE JONATHAN OKEAFO 87 AKINABI SAMUEL ADEBAYO 172 AYANRINOLA LATEEF, OKE 259 EYO LEONARDO 88 AKINDE MUSIBAU 173 AYENI ADENIKE AYINKE 260 EZE EUGENE 89 AKINDELE-OBE JOSEPH OYEDEJI 174 AZAKA SAMSON UDEOSO 261 EZE WILLIAM IFEABUNIKE

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262 EZEANI OBIDINMA M. 349 JINADU USMAN BABATUNDE 436 NWANI SAMUEL 263 EZEH EZEMONYE MICH. 350 JOE ISAAC ORITSESEWEYINMI 437 NWANKWO JOHNBOSCO IFEAACHO 264 EZEKWEM SIMON 351 JOHN OLUBUSAYO 438 NWANKWO ONWUCHARA LUKE 265 EZENAGU VINCENT NWEKE 352 JOHNSON ADEOLA 439 NWANKWO YOUNG AMAECHI 266 EZENEKWE C.S. 353 JOLAOSHO AJIBOLA OLALEKAN 440 NWEREM, E. & ANR ADMORS NWEREM MATHEW O. 267 EZENNADILI CECILIA CHINENYE 354 JONAS CHUKWUEMEKA AGU 441 NWIGWE AUGUSTINE EMENALOM 268 FADERO FRANCIS F. FOLORUNSO 355 JOSEPH DANIEL INNOCENT 442 NWOKEDI JOSEPHINE UDEZULU 269 FADEYI JAMES ADETUNJI 356 KAMALU JULIUS 443 NWOKEDI MARTHA LORETTA NNEKA 270 FAGBOHUN OLATOKUNBO AYORINDE 357 KAMSON MOBOLAJI 444 NWOKEDI SAMUEL 271 FAJEMIROKUN OLUGBENGA TIMOTHY 358 KEKEREOGUN LAWAL B. (ADMOR) KEKEREOGUN 445 NWOKEOHA NATHANIEL IFEANYI JACOB 272 FAKAYODE HENRY SUNDAY 359 KODILINYE SAMUEL WADDY CHUX 446 NWORAH DIKE, 273 FAKOYA MUDASIRU OLUGBEMIGA 360 KUDAISI AYODELE SARAT 447 NWOSU JAPHET 274 FAMAKINWA CLEMENT ADEMUSAYO 361 KUSIMO JOSEPH OLUWOLE SODIPE 448 OBAKPOLOR SAMSON IGHOGBOYA 275 FAMBEGBE STEPHEN OLUFEMI 362 LADEGA JULIANAH OJUOLAPE 449 OBAOWO JOHNSON OLUKAYODE 276 FAMUYIDE OMOLOLA 363 LATINWO OLADOSU 450 OBASEKI AMBROSE ENOFE 277 FAPOHUNDA EDWARD ABIODUN 364 LAWAL BASIRATU ADETUTU 451 OBATA COMFORT KANAYO 278 FARO RAUFU BURAIMO 365 LAWAL OMATAYO 452 OBATA YOUNG MOHA 279 FASINTEI CHRISTIAN KODEIKIMI 366 LAWAL OMOTAYO 453 OBI CAROLIN ONYECHIYAKWERE 280 FASIPE CLEMENT OYELAKIN 367 LAWRENCE CONSTANCE AMANO 454 OBI VERONICA GERTRUDE 281 FATOGUN HUSSAN ALAMU 368 LIADE NURUDEEN OLATUNDUN AKANGBE 455 OBIANYOR INNOCENT, CHUKWUDI 282 FBN NOMINEES LIMITED . 369 LINKAGE ASSURANCE CO. LTD 456 OBIDIKE SUNDAY OKOYE 283 FIDELITY FINANCE CO. LTD. 370 LONGJOHN RACFEL DAVID 457 OBIKO WILLIAM 284 FINANCIAL TRUST CO. NIG. LTD. RC 17736 371 LOPEZ JIDE 458 OBINALI CHRISTIAN UMUNNAKWE 285 FINECOUNTRY JOSIAH BALAFAMA 372 MABADEJE ADEBIYI 459 OBIOFUMA MATHAIS UKADIYA NWANZE 286 FRANCIS MORDI CHUKUJI 373 MABADEJE FOLUSO 460 OBIOGBOLU ANTHONY OBIAGWUNCHA 287 FREEMAN OLUSEGUN 374 MABAWONKU LAWRENCE AYODELE 461 OBIOMA ONYEDIKACHI 288 FYNEMAN KALIO NANA TAMGBEIN 375 MACARTHY MABEL M. SOFOLUWE 462 OBONG EDO 289 GARUBA IBRAHIM 376 MACHEBE CHARLES IBEKWE 463 OBOSI MARGARET LAVINA, LOUIS AKINOLA AMAECHI 290 GBADAMOSI IDOWU PHILIP 377 MADARIKAN TINUOLA OLAYIDE 464 OBUNADIKE IBEBUNAN FREDERICK 291 GBOBANIYI SUWEBAT OLORUNTOYIN 378 MADU FIDELIS CHUKWUEMEKA 465 ODEBISI SHITTU ADEREMI 292 GBODIMOWO ALFRED SUNDAY 379 MADU FIDELIS CHUKWUEMEKA 466 ODEJIMI, OLUBISI & ANR ADMORS OF ODEJIMI, JO 293 GENERAL SEC. & FIN. CO. LIMITED 380 MADUKWE G 467 ODELEYE FOLORUNSO OLU 294 GISANRI AFOLABI ADELEKE 381 MAHMUD KADIRI JAFARU HAKEEM 468 ODERINLO OLUBUNMI OLUFUNKE 295 GIWA KAMALDEEN ALADE 382 MAINLAND TRUST LIMITED RC 86962 469 ODIBELI CHRIS. M. SMITH 296 HARUNA ABIMBOLA. K. 383 MAJEKODUNMI VICTORIA IMAMIYE 470 ODILIBE PATRICK BESCO CHUKWULOZIE 297 HASSAN WAHAB 384 MALIKI MUSADIK LANRE 471 ODOGBE FIDELIS 298 HAUWA ADAMU 385 MARTYNS-YELLOWE T.I. DR. 472 ODUBA OLUJIMI 299 HERBERT-JUMBE ROGERS EGELE 386 MBA CHRISTOPHER 473 ODUBANJO CHRISTOPHER AIYEDUN 300 IBE CHRISTOPHER ONWUKA 387 MBADIWE PHILIP CHUKWUEMEKA 474 ODUEKUN FUNMILAYO 301 IBE DECLAN UGOCHUKWU 388 MBANEFO CHIEKA 475 ODUJEBE HENRY ADETOLA 302 IBELEGBU MARY 389 MBANU OKEZIE SYLVESTER 476 ODUKALE ALICE OMOLOLA 303 IBENEME SYLVESTER ONYEJIAKA 390 MCEBONY VENTURES 477 ODUKALE MARIAN FOLASHADE 304 IBIKUNLE EMMANUEL ADEMOLA 391 MEGAMOND INVESTMENT COMPANY LIMITED 478 ODUKALE SAMSON OLUFEMI 305 IDDIO EDET GREGORY 392 MEMEH DAVID URUNTODEN 479 ODUMADE W.O. 306 IDEDIA JOHN 393 MENDES ANTHONY IDOWU AKINOLA 480 ODUMODU WALTER CHUKE UGO 307 IDIKA JOSEPH 394 METU CHIDI 481 ODUNLAMI ABIMBOLA 308 IDOWU STEPHEN OLUTUNDE 395 MGBACHI BRENDAN, ARINZE CHARLES 482 ODUNSI BABAJIDE ADEOLA 309 IFEADI ANGELICA EZINNE 396 MGBACHI FRANCISCA, OBIAGELI 483 ODUYEMI OLAYINKA 310 IFEADI BRASCA J. 397 MGBEMENA SIMEON SUNDAY 484 OFOR HELEN OGENNA 311 IFEADI MARVIN IFEADIYI 398 MIACHI THOMAS AJAYI 485 OGBEBO AMREMUBURE B. 312 IFELOWO FELICIA, AMUAMUZIA 399 MMEREOLE CHUKWUNYERE CHARLES 486 OGBOLU ANTHONY IKEM 313 IFELOWO FELICIA, AMUAMUZIA 400 MODEBE CELESTINE 487 OGBONNAH AUGUSTINE ULONNAMEFULA 314 IGBOAYAKA LIVINA NWAKA 401 MOHAMMED TESLIM NUNOO 488 OGBUNUBI JOSEPH 315 IHEAKU EDWIN NNECHETA 402 MOHAMMED UMARU ALHAJI 489 OGEDENGBE EUNICE BOLAJI 316 IHEANACHO BOSSMAN FRANCIS UCHE 403 MOJEKWU JOE OLUFUMILAYO 490 OGI OSAJARE OLUMAIYEGUN 317 IHEANACHO HYACINTH NWOSU 404 MOLTEN TRUST LIMITED 491 OGILEGWU JOHN 318 IHEDIOHA ONYEKACHI 405 MONEKE SYDNEY IGBOANUGO 492 OGUAGHA THERESA 319 IHEMEJE HUMPHREY EZEMONYE 406 MOORE ABDUL SALAM 493 OGUAH, GABRIEL A.A. & ANR. ADMORS. OF OGUAH 320 IHESIABA ANTHONY OCHIABUTO CHIMEZIE 407 MORA MUHAMMED IWUWA 494 OGUERI EMMANUEL 321 IJEBOI VICTOR O. 408 MOSANYA MICHAEL CHUKWUEMEKA 495 OGULEDO CHRISTOPHER CHINEDU 322 IKEME GLADYS UCHENNA 409 MULTINATIONAL INV. SECURITIES LTD. 496 OGUNBERU ADEMOLA 323 IKENNA NKEM ESTHER 410 MUONEKE OKOYE BONIFACE 497 OGUNBOR WINIFRED 324 IKENTA NWAIKENTA PATRICK 411 MUSTAPHA ABUDUL GAFARI OLA 498 OGUNDANA OLUREMI OLUROPO OLUFUNMI 325 IKPEME ANNE INYANG 412 MUTIYU OKUYERA 499 OGUNDELE ADEMOLA DAVID 326 ILE TOM ELEKNWACHI 413 NA INDO LITI 500 OGUNDELE SAMUEL ADEBAYO 327 ILUGBAMI JOHN F. 414 NDUKA ANAYOCHUKWU NORBERT 501 OGUNDIPE BABAJIDE 328 IMEVBORE OLOLADE ABIOSE 415 NDUKA PIUS 502 OGUNJOBI MOBOLAJI BOSEDE 329 IMO GODWIN CHINKWE ENYI 416 NDUKWE INNOCENT ANAMELE 503 OGUNKOYA MICHEAL GRACE 330 INONE LAWRENCE UWANGUETIMEYIN 417 NEGOTIABLE FINANCE LIMITED 504 OGUNLADE AKINLOLU LUCAS 331 INSAIDOO TESLIM SAM 418 NENE ARIT 505 OGUNLANA JOHN BOLAJI 332 INTERSTATE SECURITIES LIMITED 419 NEZIANYA STELLA 506 OGUNLEDUN FELIX ADEDOYIN GBADEBO 333 INVESTICON NIGERIA LTD. 420 NGBAKOR IFEOMA 507 OGUNLEYE ADEREMI AJIBOLA 334 INYANG AKPAN AMOS 421 NISEL NOMINEES A/C SOY-8801 508 OGUNLEYE JANET OLUFUNMILAYO 335 ISHOLA ADEBIYI 422 NJOKU DESMOND 509 OGUNLEYE TOLU.A. 336 ISHOLA AMUSAN 423 NJOKU EUNICE K. 510 OGUNNAIKE CHRISTIE OMOLOLA 337 ISIAKA ADEGBOYEGA 424 NJOKU PAUL EKE-UGOMA NJOKU 511 OGUNNAIKE EMILY OYINDAMOLA 338 ITSUELI JUSTUS UDUIMO 425 NNADOZIE CHIBUNDU OGUNDU 512 OGUNNOWO SUNDAY, OLUTAYO 339 IYUN AYOOLA OLUROTIMI MORENIKE 426 NNADOZIE EZEKANACHI 513 OGUNSAKIN SAMUEL OMOLOLA 340 JAIYESIMI ADENIYI ADEBULEGBE 427 NNOLIM ALEXANDER OBUMNWE 514 OGUNSANYA EDWARD OLUFEMI 341 JAIYESIMI ROTIMI AYODELE KAYODE 428 NTUK JOHN NTUK EKANEM 515 OGUNSUYI IDEMUDIA MATTHIAS 342 JAJA-WACHUKU CHINEDUM NTIANU 429 NWABUIKWU ESTHER NWAMAKA 516 OGUNTOBI OLUSEYI .S. 343 JARIKRE LAWRENCE NINIORITSEATAN 430 NWAFOR EMMANUEL IDU 517 OGWUIYI OKENWA KALU 344 JESSE ELIZABETH GHOMORAI 431 NWAGBARA GODFREY 518 OGWURU ISAIAH ONYEMAUWA 345 JIBUNOH BUCHI AMAKA 432 NWAGBARAJI N. AMBROSE 519 OHANUGO WILLIAMS 346 JIBUNOH FELIX CHUKUMA 433 NWAIGWE ROSE MARY 520 OHIAERI UCHE UNACHUKWU 347 JIMOH NURA 434 NWAJIDE MICHAEL ONWUAMAEGBU 521 OHIANI ALFRED, ONIMISI 348 JINADU LAMIDI OLANIRAN 435 NWAKAMA GODWIN CHUKWUYE 522 OJELABI PETER ADIGUN

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523 OJIAKO ANENE IZU 601 ONI MODUPE ADEOLA 679 SONOIKI OLUBOLA OLUKOMIYO 524 OJIAKU MAZI OKORO 602 ONI OLADIPO OLABODE ODEJIDE 680 SOTANNDE SOLOMON ANR. (ADMORS.) SOTANNDE, F 525 OJIKUTU SAMPSON ADEBISI 603 ONIYIDE OLUWOLE OLUYOMI 681 SULE GANIYU ADEBAYO 526 OJO OLUSOJI ADEBAYO 604 ONOBU BEN EBHOHIME 682 SUMMIT FINANCE COMPANY LIMITED 527 OJUKWU CHIDI VINCENT 605 ONOVO CLEMENT NNAJI 683 SUPPORT SERVICES LIMITED 528 OKAFOR CLINTON CHUKWUMA 606 ONU IFEANYI KEVIN 684 TAIWO OLADELE A. 529 OKAFOR EDWIN OKECHUKWU 607 ONU PHILIP IHEYINWA PHILIP 685 TAIWO SAMUEL BANKOLE 530 OKAFOR GABRIEL EZE 608 ONUIGBO NNENA OBIANUJU 686 TALIB BAANDE AHMED 531 OKAFOR GODWIN 609 ONUORAH OKUEZE PHILOMENA 687 TEJUOSHO SAMUEL ADETUNJI 532 OKAFOR PETER NNAEMEKA 610 ONUWUGHALU DANIEL 688 TERIBA OWODUNNI 533 OKARAME OKONKWO GEOFFREY 611 ONWUAGWU EDNA.O. 689 THOMAS WILLIAM BABATUNDE 534 OKE ADEBUKOLA OLUWAYEMISI 612 ONWUCHEKWA IDIKA 690 TOKACY INVESTMENT SERVICES LTD 535 OKEAHIALAM FRANCIS IKECHUKWU 613 ONWUORAH PIUS STEPHEN 691 TOM BEE INVESTMENT LTD. 536 OKEDARA EMMANUEL 614 ONYEAKUSI EGBUNE PETER 692 UBANI CHIKA ANTHONY 537 OKEKE IBE SYLVANUS 615 ONYEDIKA ARINZE MIKE 693 UBEH RAPHAEL NDEM 538 OKENIYI EMMANUEL OLADAYO 616 ONYEDUM ISAAC OKAFOR 694 UDE JOHN OTAKA 539 OKERE FREDRICK 617 ONYEKWELU CHRISTOPHER CHUKWUJEKWU 695 UDE LIVINUS 540 OKERE UMU FREDRICK 618 ONYIA AUGUSTINE NDUDI 696 UDEAGHA AGUMADU ASIEGBU 541 OKEREKE PETER CHUKWUDIMMA 619 ONYIUKE JAMES NWAFOR EMELIFE 697 UDIC SE CURITIES LTD RC 114219 542 OKESINA ADEKUNLE 620 OPAGUI RAPHAEL, NNABUIKE (DECD)/ADMORS 698 UDO INYANG CHARLES AKPAN 543 OKNKWOR MATTHEW OKEKE 621 OPARAOCHA TITUS 699 UDO OKON MATTHEW 544 OKOLI BERNARD N. 622 OPE-AGBE NOIMOT OLUWATOYIN 700 UDOFIA IME EMMANUEL 545 OKOLO DENNIS NWOKECHUKWU 623 OPUTA OTUTU FRANK 701 UDOH AFIONG EFEFIONG 546 OKOLO S.E. 624 OREDEIN SAM ADE 702 UDOH MARY-ANNE 547 OKOLO SAMUEL EJIKE 625 ORIAIFO PETER IMOKHIAN 703 UDOYE CECILIA O. 548 OKON IGUO MONDAY BASSAY 626 OSAI MILLIE 704 UDUKA HYACINTH IGWOWU 549 OKORIGWE CHIME CYPRIAN 627 OSHEN JOSEPH A. 705 UGOCHUKWU CHRISTOPHER IZUAGBA 550 OKORO THEOPHILUS 628 OSHODI FAROUK ADEGBOYEGA 706 UGOH CHRISTOPHER UZOSIKE 551 OKOROGBONA VICTOR 629 OSIEBE JOHN, JOSIAH 707 UGOH JOSEPH 552 OKOROMAN IGNATIUS ETOYEAKU 630 OSIJO ALBERT OLUMUYIWA 708 UGWOAGONWU JOHN 553 OKOSISI BONNY OBIAKWANA 631 OTI STEVE MOSES 709 UGWU REBECCA EKENMA N. 554 OKOYE TIKO 632 OTOMA NATHAN IREJU 710 UJOR BALOWIN OGBONNA 555 OKOYEOCHA CHIDI JOSEPH 633 OTTUN RAJI SADIKU 711 UJUAGU IGNATIUS CHUKWUEMEKA 556 OKRIGBOLOR JOSEPH 634 OTUYEMI ISAAC, ENIOLA 712 UKACHUKWU UME ANTHONY 557 OKU EDISUA OBOKO 635 OVAJE NAOMI ARUOREZI, DR 713 UKOR JOHN OKAFOR 558 OKUDO EDWARD CHIOBI 636 OVBUDE JAMES DELE 714 UKPONG REBECCA JACOB 559 OKUKENU REGINA FADEKE 637 OWOLABI FASAKIN "HOLD" ALLEGED DECEASED 715 UKWU ANGELA 560 OKUMAGBA DANIEL ETSOFONE TORIMI 638 OWORU OLUGBEMISOLA 716 UMEADIM TITUS ONWUEEGBUSI 561 OKUNNU HABEEB BABATUNDE 639 OWUAMANAM ATHANASIUS CHUKWUNYERE 717 UMOH EDET 562 OKUNRINBOYE CHARLES ADEREMI 640 OYEKAN AFOLABI 718 UMORU DANIEL 563 OKUNSEINDE ANN 641 OYEKANMI OMOLARA JOSEPHINE 719 UNACHUKWU BERTRAND UBA 564 OKUNUBI GABRIEL ODUWOLE 642 OYEKANMI SULE AJAGBE 720 UNAGWU DANIEL 565 OLABANJI KEHINDE ADEBAYO 643 OZUZU CHRIS. 721 URECHUKU SAMUEL 566 OLABISI, ADEMOLA OLANREWAJU & ANR. OLABISI 644 PARK CORDON WILLIAM 722 USIM ROBERT NJIUWAOGU 567 OLADEINDE GILBERT AFOLABI DESALU 645 PASE JOHNSON OLUBUKUNOLA 723 USMAN BUKAR 568 OLADEPO JIMOH AKINPELU 646 PERRIRA ANTHONY OLATUNJI 724 UTODIO INNOCENT EKOMOBONG 569 OLADIPUPO OLURANTI 647 PINSOKAN ADEDEJI RAPHAEL 725 UTODIO JOSEPHINE ENAKEME 570 OLADIRAN ISRAEL SUNDAY 648 POPOOLA EMMANUEL OLUFEMI 726 UTULU BENEDICT MBANEFO 571 OLADITI TUNDE 649 Q-TRIANGLE LIMITED 727 UWADILEKE ANTHONY ONWUMECHURUBA 572 OLAGUNJU OPOOLA 650 RABIU MORIAMO 728 UWAOMAH PATRICK 573 OLAJIDE JAMES ADEBAYO 651 REMAWA SARATU SULE 729 UWERU GODWIN ORUGBA 574 OLANI AMUDATU GBELEWADE ADEBISI 652 ROBERTS LATIFAT ADETEJU 730 UZONDU OGBONNA SAMSON 575 OLAOBAJU OLAJIDE 653 SALAAM FATAI OWOLABI AGBAJE 731 VERTEX INVESTMENT LIMITED . 576 OLAOYE BILIKISU BOLANLE 654 SALAKO MARCOF ADEREMI 732 VICTOR ADEMUYIWA 577 OLAPO ISAAC DELE 655 SALAMI LAYI 733 VIVA SECURITIES LTD 578 OLAYIWOLA TOBBY M. 656 SALAWU LATEEF ALAGBE 734 WILCOX GEORGE IBIWARI 579 OLOGUNDE GABRIEL OLUWOLE 657 SANI MERO SOLA ALAKE 735 WILLIAM AKINTUNDE I. OLADIPO 580 OLOGUNDUDU, M. L. & ANR. EXORS. OLOGUND 658 SANNI ABDULKADIR, IDOWU 736 WILLIAMS LATIF AKANNI 581 OLOLO TORITSEJU JOSHUA 659 SANNI AREMU SHAFARU 737 WILLIAMS, FRACIS O. & ANR. ADMORS. WILLIAMS 582 OLOWU JOHN AYODELE TAIWO 660 SANNI NURUDEEN 738 WUSU OLUTONU OLUFUNMILAYO 583 OLOYE AJAYI 661 SANUSI JOSEPH OLADELE 739 YINUSA GANIYU 584 OLUGBANI MOHAMMED SAHEED TOLANI 662 SANWO PATRICK AGBOLADE 740 YONREN ERNEST HERMAN 585 OLUKOLU ADETUTU 663 SAWYERR ABRAHAM ALADE 741 YUSSUFF RASHEED OLAYINKA 586 OLUKOYA ALFRED ADEYEMI 664 SHAIBU KASIMU OSHOCHE 587 OLUSOLA OLUMAYIWA OLALEKAN 665 SHEHU MARYAM BALA 588 OLUWOLE OLUSIJI 666 SHEHU ZULU FUNSHO 589 OMALAKWA CHIBUEZE CASIMIR 667 SHIEJIR ROSE 590 OMEATA EMMANUEL CHUKWUMA 668 SHITTU BASHIRU 591 OMOGUN OMONIYI ONIMISI 669 SHOAGA LATIFU ATANDA 592 OMO-IKERODA ABUBAKAR AKANBI 670 SHOBANDE ABAYOMI OLU 593 OMOLAJA OLADAPO OLASENI 671 SHOLEYE OLATUTU 594 OMOLAJA SUNDAY O. 672 SHOMADE FALILATU APEKE 595 OMOOGUN ABIODUN RICHARD 673 SHOPEJU CAROLINE MORENIKE 596 OMOREGIE JONATHAN EDOBOR 674 SHOSANYA MICHAEL ABIDEMI 597 OMOSHOLA BOLADE OLAJIDE 675 SHOYINKA BOLA.S. 598 ONANUGA AYODELE 676 SOBOGUN ONENGIYEOFORI I. 599 ONAYEMI ABAYOMI ADEWALE 677 SODIYA OLUYEMISI 600 ONI ISRAEL OLUWADARE 678 SOJI AMUSU KOFFI

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1 ABACUS SECURITIES LTD. 88 AFINNIH AMUDATU ABOLORE 175 AKUBUDE JOHN 2 ABALABA MARGARET 89 AFOLABI AFOLAKE B. 176 AKUKUBE SIMON 3 ABAYOMI KAYODE SUNDAY 90 AFRIQUE SECURITIES AND FINANCE LTD. 177 AKUKWE STEPHANIE NONSO ADAOBI 4 ABDU SAFIYA SHARIE 91 AFU NSE LILLIAN 178 AKUNWATA IFEOHIDERE SAMUEL 5 ABDULAI BABATUNDE SHITTU 92 AFUWAPE ANTHONY UYI 179 ALABI YETUNDE OLUYEMISI 6 ABDUL-RASHEED HALIMAT 93 AGBA FABIAN IFEANYI 180 ALADE SAMUEL OJO 7 ABE MICHAEL OLUFEMI 94 AGBA PHILLIP OBIAGWU 181 ALADEJUYIGBE GRACE IBIRONKE 8 ABENGOWE CHINELE, USUWA 95 AGBAKWURUJI AGUWA IKPEAZU 182 ALADENIKA OLU 9 ABIODUN YISAU AKINWUNMI 96 AGBORUME MARTINS, AYO 183 ALAGBADA OMOLARA 10 ABORISADE JAMES OLUOKUN 97 AGHOMATSE ORITSHEGBUBEMI SAMUEL 184 ALAKA BARNABAS UZOWULU 11 ABOYADE OJETUNJI 98 AGIM GODWIN 185 ALALADE, VICTORIA O & ANR. ADMOR. OF ALALADE 12 ABU MUSA 99 AGORO COMFORT OREDOLA 186 ALAMBO FREDSON FRED 13 ABUBAKAR MOHAMMED SANI 100 AGORO OLUFUNKE 187 AL-AMEEN IYANUOLUWA 14 ABUBAKAR UMAR MUNIR 101 AGORO RASHEED ABIMBOLA 188 ALAMURIN OJO LAWRENCE 15 ADA NNE 102 AGORO SALAMOT ALAKE 189 ALAMUTU MARGARET DADA 16 ADADE OLUKAYODE ADEYINKA 103 AGU CHRISTOPHER OGBOZO 190 ALESHILOYE-WILLIAMS ERASMUS 17 ADE OLUSEGUN ATANDA 104 AGWU PHILLIP UCHE 191 ALFONSO IBIDAPO ABIODUN 18 ADEBAYO ADENIKE A. 105 AINA ALICE SHOLA 192 ALFRED ELIZABETH OLU 19 ADEBISI OLUBUNMI EMILY 106 AITSEGAME ADDRESS AMEN 193 ALI ALI JOHN 20 ADEBIYI DAVID ADEOYE 107 AIYELERO ADEKEMI AND, FOLAKE (ADMORS) 194 ALI JIM BELLO 21 ADEBUNU EVELYN 108 AIYEONEGUN TAIWO 195 ALIYU USMAN, MUHAMMED 22 ADEDOTUN EZEKIEL AJIBADE 109 AJADI MURITALA, ADEROGBA 196 ALLAGOA MICHAEL VICTOR OKE 23 ADEFALA MODUPE OLUWATOYIN 110 AJALA ADEYEMI 197 ALLI-OTUN MORUFU 24 ADEFARAKAN ADEGBEMISOYE 111 AJANI GANIYU OLALEKAN 198 ALLIU AHMADU 25 ADEGBEHINGBE OLANIJI 112 AJANI VICTORIA SIJUWADE 199 ALO OLUSOLA 26 ADEGBITE JACOB, ADEBAYO 113 AJAYI ANUOLUWAPO, 200 ALO REMI 27 ADEGBITE SAMUEL IGBAYILOLA 114 AJAYI DEJI 201 ALOBA UWAIFO AKIN 28 ADEJO-OGIRI OGA 115 AJAYI JAMES DAVID 202 ALOKWE SYLVESTER THADDIUS 29 ADEKOYA ADETAYO 116 AJAYI SEGUN 203 ALPHA QUALITY INVESTMENT LTD 30 ADELAJA ADENIYI TEMITOPE A. 117 AJAYI TAOFIK MR, 204 ALUYA MARTHA 31 ADELAJA NOFIU 118 AJAYI YEMISI MODUPE 205 AMABEBE PRETTY, 32 ADELAKUN JOHN OLUSEGUN 119 AJAYI-OBE OKUNOLA 206 AMADI COSMAS MBACHU 33 ADELAKUN JULIANA ABIMBOLA 120 AJELETI OLAMIJULO 207 AMADIKWA AHAMEFULE OKPARA 34 ADELEKE OLALEKAN 121 AJENE EJIKE 208 AMADIKWA CHIJIAGO 35 ADELESI FELICIA OLA 122 AJEROH REGINALD UZOAMAKA 209 AMADIKWA CHINASA 36 ADEMIDUN DANIEL ADERINOLA 123 AJIBOLA BOLA ADESUMBO 210 AMADIKWA OBAJI 37 ADEMOWO ADENIYI TAIWO 124 AJIE EKE, OLUMUYIWA 211 AMAECHI MOSHE CHIJINDU 38 ADEMUYIWA OLATUNBOSUN TAOFIK 125 AJIGA OLALEKAN 212 AMAIFEOBU FIDELIS NWOYE 39 ADENEKAN A. OLUBIYI 126 AJIJOLA ISAIAH OLAREWAJU 213 AMALU ROSALINE UKAMAKA 40 ADENEKAN DANIEL OLUYINKA 127 AJISEBUTU, BRIDGET A. MRS & ANR ADMO FALOLA 214 AMANAMBU CHIMA 41 ADENIJI SALIMON IBIKUNLE 128 AJOBO STEPHEN ADESANYA 215 AMANDUGBA FARMERS MULTI-PURPOSE CO-OP 42 ADENIYI JOHN OLASENI 129 AJOKE MODEL ENTERPRISES NIG. LTD. 216 AMARUBE ALEXANDER CHUKWUMA 43 ADENIYI KEHINDE EMMANUEL 130 AJULUCHUKWU SAMUEL CHUKWUDI 217 AMASO DABAYE ATIEKE 44 ADENIYI NOSIRU ADEBAYO 131 AJUWAPE PAUL OMOTUNDE 218 AMASO DABAYE ATIEKE (DR) (ADMOR) AMASO, MBA 45 ADENOLA BAMIDELE, ABAYOMI 132 AJUWON DAUDA ADEREMI 219 AMES LIMITED 46 ADEOKUN MATHEW 133 AKABILO STEPHEN 220 AMIATOR CRISELDA 47 ADEOLA KADRI, ADEBAYO 134 AKABUEZE BEN IFEANYI, 221 AMINU ADEDIRAN 48 ADEOLA YINKA 135 AKANBI GABRIEL OLADIMEJI 222 AMOBI BENEDICT ONOCHIE 49 ADEOSUN BABATUNDE 136 AKANDE ADEBISI 223 AMOBI CHIUBA CHARLES 50 ADEOYE PATRICK BISI 137 AKANDE JOEL AGBOOLA 224 AMOSUN MUIBI 51 ADEPOJU COMFORT ADETOUN 138 AKANDE JOSEPH OYENIYI 225 ANABA KENNETH EMEKA 52 ADERELE WILSON ILEMOBADE 139 AKANDE LESLIE 226 ANAZODO DOROTHY HAGIDE 53 ADERIBIGBE OLUWOLE KUNLE 140 AKANJI MICHAEL BADERINWA 227 ANAZODO FELIX CHUKWUJEKWU 54 ADERIBIGBE SHERIFAT TITILAYO 141 AKAWUBA DOMINIC BIERE 228 ANAZODO FELIX CHUKWUJEKWU 55 ADERIBIGBE TEMILADE T. ENIAFE 142 AKEJU EMMANUEL ABIODUN 229 ANAZODO REGINALD SOMTONNA 56 ADEROUNMU JANET ADENIKE 143 AKESO FELICIA 230 ANEKE THOMPSON SUNDAY 57 ADESANWO SAMUEL BABATUNDE 144 AKIDELE COSMAS TAIWO 231 ANEKE, PATIENCE & ANR (ADMORS) ANEKE, SILVA 58 ADESIGBIN, G.A.(MRS) & ORS (EXORS)/ ADESIGBIN 145 AKINABI SAMUEL ADEBAYO 232 ANETOH JOHN NGOZICHUKWUKA 59 ADESINA GBADEBO OLUSOLA 146 AKINBODE AKANJI I. MR, 233 ANETOR IWOBHOR 60 ADESINA OLAWALE 147 AKINBOLUSERE AKINNUSI STEPHEN 234 ANI EMMANUEL 61 ADESINA TEMITOPE E. YETUNDE 148 AKINDE MUSIBAU 235 ANI WALTER EMMANUEL CHUKWUMA 62 ADETOLA OLUSEYI OBABUNMI 149 AKINGBADE V.O. 236 ANICHIE JOSEPH EMEKA 63 ADETUNJI SIMEON ADEGBOYEGA 150 AKINKUGBE OLAYINKA 237 ANIKADIBIA NWOGBO 64 ADETUTU JOHN, OLADEPO 151 AKINLADE PHILIP AMA ASAGBA 238 ANOLUE APPOLLOS ANWUCHA 65 ADEYANJU ESTER BONNY OLAYINKA 152 AKINMOLAYAN JOHNSON SHOLA 239 ANUKPE WALTER JEMEJE 66 ADEYEFA YINUSA, GBADEBO(DECD) 153 AKINSEYE AKINDELE 240 ANUNUSOR IHUOBA GODWIN 67 ADEYEKUN ISAIAH ADENIYI 154 AKINSOLA FESTUS AKINBODE 241 ANWUTA AUGUSTINE UKE 68 ADEYEMI ADEDAPO ISHOLA 155 AKINSOLA OLADIMEJI NEWTON 242 ANYAKOHA DON ORJI 69 ADEYEMI EVARISTUS FOLA 156 AKINTOLA ATTERE JOHN 243 ANYAKORA EDWIN CHUMA 70 ADEYEMI PATRICK 157 AKINTOYE ADESEGUN 244 ANYAKWO BENJAMIN CHUKWUMA 71 ADEYEMI, MRS O. I. & ANR (ADMORS)/ ADEYEMI 158 AKINTULA OLATUNJI MATHEW 245 ANYAMENE GABRIEL 72 ADEYEMO IDOWU OYEJIDE 159 AKINTUNDE OKANLAWAN ADESINA 246 ANYANEDUM AUGUSTINE IHEARUEZE 73 ADEYEMO OYEWOLE, 160 AKINWANDE ABAYOMI 247 ANYANWU FERDINAND A. CUKWUDI 74 ADEYIGA SAMSON, S. 161 AKINYINKA SAMUEL CHRISTIAN 248 AOKO CLARA BOLANLE KIKELOMO 75 ADHE MARGARET 162 AKITI OLUSOLA SAM. 249 AOKO SOLOMON OLUSESAN 76 ADIGUN JOSEPH OLADEJI 163 AKITI OLUSOLA SAMUEL 250 APARA, ARINOLA MRS & ANR (ADMORS) APARA, TUN 77 ADIKIBE SYLVESTER MODENE 164 AKOBUNDU ONYEMIUCHE ANTHONY 251 ARABA ADEKUNLE BABATUNDE 78 ADIKWU SUNDAY OIWONA 165 AKONI OLUYOMBO 252 ARE LATEEF KAYODE 79 ADISA RAUFU ADEYEMI 166 AKPABIO EKPEDEME, OBOT 253 AREMU OYEKOLA ALADE 80 ADMIN-GENERAL PUB. TRUSTEES UDEJI, BONIFACE 167 AKPAN CLEMENT, ESSIEN 254 ARIGUZO THEODIUS 81 ADOIE FRANK DAVID SALAU 168 AKPAN EMA EKPENYONG 255 ARIMORO TITUS ADEBAYO 82 ADU CHRISTIANA OLUFUNKE 169 AKPAN KUERE JAMES 256 ARIOLU CHIKWE KENNETH 83 ADUAKA CHRISTIAN IZUCHUKWU 170 AKPAN MONDAY ETUK 257 ARO JOHN OYEDELE 84 ADUBA FESTUS N. DECEASED/ADMIN-GENERAL P 171 AKPARORUE GODFREY EDOMO 258 AROGBOFA JONES OLADEHINDE 85 ADURUOGBANGBA O. OLUFUNMILAYO 172 AKPATA OSAYANDE OMOTAYO 259 ARUKWE SONNY 86 AFANEKU STELLA IFEYINWA 173 AKPATA RICHARD IYAMU 260 ARUM JOHN AMARACHUKWU 87 AFANG-IDE EMMANUEL 174 AKPUNONU GODFREY CHUKWUAGOZIE 261 ASAGBA TAJINERE ANTHONY

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262 ASHARA SAMUEL OLATUNDE 349 DANLADI HASSAN 436 ETIM PATRICK EDEM 263 ASHIPA PATRICIA OLUSHOLA 350 DANLAMI MUHAMMADU 437 ETOLUE GEOFFREY CHUKWUEMEKA 264 ASIEGBU CHRISTIAN CHUKWUEMEKA 351 DAPPA GRACE EDOROAGBOMA 438 ETTE OKON DAVID 265 ASIEGBU JOHN NKACHUKWU 352 DARE JOSHUA OLANREWAJU 439 ETUK JOSEPH SYLVESTER 266 ASSAN ORIYOMI, TOMIWA 353 DAVWIN VENTURES 440 ETUKUDOH AKPAN JUDE 267 ASUKWO ISAAC 354 DAWODU ANDREW 441 EWERO MATHEW OKAGBARHE STANLEY 268 ATERU CLEMENT 355 DEFENCE INDUSTRIES CORP. OF NIG. 442 EWOR KOHAN SAMUEL 269 ATOYEBI EMMANUEL ADEBAYO 356 DIKE AUGUSTINE OKELUWA 443 EWUZIE JONATHAN OKEAFO 270 ATSIANGBE-NUMA ERIC ANOMUAREN 357 DIM SAMUEL CHUKWUDUM 444 EXPRESS PORTFOLIO NOMINEE A/C 002 271 ATTERE JOHN A 358 DIRI HEZEKIAH JOHNSON 445 EYIOWUAWI CHRISTIANA A 272 AUDLEY PATRICK 359 DISU OLATOKUNBO AZEEZ 446 EYO LEONARDO 273 AUGUSTINE ESTHER, FUNKE 360 DISU OLUFUMILAYO 447 EZE EUGENE 274 AWOFEKO TUNDE 361 DOSUNMU SAKA AYINLA 448 EZE JAMES BONIFACE DIKE 275 AWOFISAYO DAVID OLU 362 DOZIE NGOZI PASCAL 449 EZE OKECHUKWU PHILIP 276 AWOJOODU PAMELA MAY 363 DUKE UMO ENEYO 450 EZE WALTER CHUKWUNWE 277 AWOLAJA ADEWALE 364 DUNKWU MAURICE NWABUNWANE 451 EZE WILLIAM IFEABUNIKE 278 AWOPEGBA ISAAC OLANREWAJU 365 DUROWAIYE ALFRED SUNDAY 452 EZEAMAKA AUGUSTINE IWEBUNOR 279 AYANDELE JOSHUA AYO 366 DURU CHUKUDI CANICE 453 EZEANI JOSIAH OKECHUKWU 280 AYANRINOLA LATEEF, OKE 367 DURU CHUKUNENYE 454 EZEANI OBIDINMA M. 281 AYE ANENI LTD RC 47425 368 DURU MICHAEL UMELO IHENACHO 455 EZEANI ROSALINE NKOLIKA 282 AYENI ADENIKE AYINKE 369 DURUIHUOMA ERAMUS IHEDIRIMADU 456 EZECHINYELU OBIORA 283 AYENI OLADIMEJI 370 DURUJI LIVINUS, OBINNA 457 EZEH EZEMONYE MICH. 284 AZAKA SAMSON UDEOSO 371 EBOKA CYRIL NNAMDI ILO 458 EZEKWEM SIMON 285 AZUBUIKE R. 372 EBOMAH FRANKLIN DEKIE 459 EZENAGU VINCENT NWEKE 286 AZUIKE FELIX CHUKWUNENYE 373 EBUBEZE EMMANUEL CHUKWUJI 460 EZENEKWE C.S. 287 BABALOLA OYEDAPO OLUGBEMIGA 374 ECHEFU STEPHEN SUNDAY UKADIKE 461 EZENNABUDO V., ENUYOSIM 288 BABATUNDE LATEEF ADEKUNLE 375 EDAH-DIKE ODJUS 462 EZENWA WILSON CHUKWUKAERO 289 BABATUNDE YISAU 376 EDEGHERE EMMANUEL OZOYA 463 FADAHUNSI OLUWOLE, . 290 BABTUNS INVESTMENT LTD. 377 EDEKI EKERE PALMER 464 FADERO FRANCIS F. FOLORUNSO 291 BADA JOSEPH OLAJIDE 378 EDET EKPONWAN N. ADMORS OF EDET, NYANG D 465 FADIPE OLAMIDE ETHEL 292 BALOGUN FRANCIS TUNDE 379 EDOHO CLETUS EDET 466 FADOJUTIMI FIAYO CHIEF 293 BAMGBALA SALISU ALADE 380 EDUGIE RAPHAEL IYAMU 467 FAFEMI AMOS OLALOYE 294 BAMIGBOYE JOHN ADEBAYO 381 EGBUCIEM GREGORY JOHNSON 468 FAFEMI MARY EBUN 295 BAMIRO BABASOLA, OLUWASEUN 382 EGBUKA STEPHEN IWUNZE 469 FAFEMI OLADAPO OLUSOLA O. 296 BANDI KWENDO 383 EGBUNA EDITH CHIZOMAM ADMORS EGBUNA, I. IKE 470 FAGBOHUN OLATOKUNBO AYORINDE 297 BANJO WINIFRED ESIUADE ADMOR BANJO, 384 EGBUNONU MARGARET AZUKAEGO 471 FAGBOYE ABIODUN OLUWOLE 298 BARITI INVESTMENT LTD. 385 EGBUNONU REUBEN OGBONNAYA 472 FAJANA OLUFEMI 299 BARUWA ABRAHAM BABATUNDE (DECD)/(ADMORS) 386 EGBUZIE COSMOS OBINNA 473 FAJEMIROKUN OLUGBENGA TIMOTHY 300 BARUWA ADEYINKA 387 EGUZORO MATILDA CHINYERE 474 FAKAYODE HENRY SUNDAY 301 BARUWA BOLAJI, OKANLAWON 388 EHIZOGIE MARY IGIEMA 475 FAKOYA MUDASIRU OLUGBEMIGA 302 BARUWA BOLANLE, . 389 EJIDIKE EDMUND ANENE 476 FALAYAJO OLUWATOYIN ATINUKE 303 BASSEY ESSIEN 390 EJI-LASISI SHERIFAT 477 FALAYE AUGUSTINE ADEWALE 304 BEDIARE STEPHEN, EIYEPESAN 391 EJIOFOR DENNIS ETIH 478 FALEYE LATEEF FOLORUNSO 305 BEGG KOFOWOROLA FOLAYEMI 392 EJIOGU BENJAMIN OZODO 479 FALOMO HILDA TITILOLA 306 BEJI EDWARD 393 EKAIRIA FELIX 480 FAMAKINWA CLEMENT ADEMUSAYO 307 BELL-GAM DIENYE SOFIRI 394 EKANIYERE OSAGIE AGBONTA ANDREW 481 FAMBEGBE STEPHEN OLUFEMI 308 BELLO ABDUL YEKINI 395 EKEJIUBA ADOLPHUS, OBASI MBAMARA 482 FAMUYIDE OMOLOLA 309 BELLO OLAKUNLE 396 EKEMEZIE SIMON NWAFOR 483 FAPOHUNDA EDWARD ABIODUN 310 BELLO TUAFIDI MOHAMMED 397 EKONG EKONG SUNDAY 484 FARO RAUFU BURAIMO 311 BELLO ZAKARI MUHAMMADU 398 EKOP IMEH CHARLES 485 FASAKIN OLUGBENGA OYEWALE 312 BELO OLATUNJI KOLADE 399 EKPENYONG SUNDAY 486 FASINTEI CHRISTIAN KODEIKIMI 313 BIOSHOGUN MUTIU, OMOTOLA 400 EKPOH JUDITH UJIRO 487 FATADE DEBORAH ADESENI (MRS) 314 BISI-TAYLOR SALAMI ADISA 401 EKUNDAYO AMBROSE, GBADEBO 488 FATOGUN HUSSAN ALAMU 315 BOB-MANUEL LIMEJUICE 402 EKUNDAYO TAJUDEEN DALEY 489 FATOKI PAUL, ADEBISI 316 BOUNTY INVESTMENTS LIMITED 403 EKWEALOR PATRICK IKECHUKWU 490 FATUSI MUSILIUDEEN AJANI 317 BOVI SAMUEL OKPOMOUTOHWARE 404 EKWEALOR PETER ANIEMENA 491 FIDELITY FINANCE CO. LTD. 318 BRAIMOH ANTHONY MONDAY 405 EKWEJUNOR-ETCHIE TOJU 492 FIN INVESTMENTS LTD 319 BROWN EDNA IGBANIDUARI JUWONYEA 406 EKWO ANTHONIA CHIEBONAM 493 FINECOUNTRY JOSIAH BALAFAMA 320 BURAIMOH DELE 407 EKWUNIFE GODWIN CHUKUS NWANNA 494 FIRST ALTANTIC SECURITIES LIMITED 321 BUSARI OMOLOLA 408 ELAHO PHILIP OMOREJE 495 FRANCIS MORDI CHUKUJI 322 CARSON RANDY 409 ELENDU HARRISON IHENDU 496 FREEMAN OLUSEGUN 323 CHIAZOR PATRICK, ODIRA 410 ELEZUA OKEREKE 497 FYNEMAN KALIO NANA TAMGBEIN 324 CHIGBO NNAJI 411 ELIJAH RAPHAEL 498 GAMBO MUSA, BABA 325 CHIKERE ROBERT WOLU CHIKERE 412 ELUEHIKE ONYEKA GREAT 499 GARUBA IBRAHIM 326 CHIKWE SAMUEL JIM CHIMEZIE 413 EMAKPOR LAWRENCE ONISURU OKAREKO 500 GBADAMOSI IDOWU PHILIP 327 CHIKWENDU CHIKWUBUIKE CLIFFORD 414 EMEFIELE PAUL ACHOLEM 501 GBADEBO BENJAMIN ADEBO 328 CHIME BERTRAM UMEADI 415 EMELIKE NWADUITO 502 GBAJOBI TITUS 329 CHINAGORO OLOGBO GERALD OLOGBO 416 EMEONA OBOH 503 GBOBANIYI SUWEBAT OLORUNTOYIN 330 CHINAKA UDEZE NDUWUEZE 417 EMIABATA MASHOOD BOLA 504 GBOLABO AKINTUNDE OLUSOLA 331 CHINWUBA P.C. OKAFOR 418 EMOBENAGHAN WILLIAM OKUKU 505 GENERAL SEC. & FIN. CO. LIMITED 332 CHINWUBA SAMUEL OGUGUA 419 ENANG ANDREW UDOH 506 GEORGE VICTOR JOSHUA JOSEPH 333 CHIROMA ALI 420 ENEMMUO UCHEKWU RAPHAEL 507 GEORGE-HART GODSWILL FANYEOFO 334 CHOKONSON NIGERIA LTD. 421 ENENMOH ANGELA U. 508 GISANRI AFOLABI ADELEKE 335 CHRISTLIEB GROUP PROVIDENT FUND LTD. 422 ENE-OBONG ENE OBONG ASIBONG 509 GIWA KAMALDEEN ALADE 336 CHUKWUDI SIMEON NWILO 423 ENYOSIOBI AMAECHI, ALPHONSO 510 GREENLANE SEC. LIMITED 337 CHUKWURA MATHAIS NNAIFE 424 EPUECHI, GODWIN & ANR (ADMORS) EPUECHI, JEMI 511 HARRISON FLORENCE 338 CHUKWURAH EMMANUEL ONOCHIE 425 EQUATOR SEC. AND FINANCE LIMITED 512 HARUNA ABIMBOLA. K. 339 CITY INV. MGT LTD - TRADED STOCK 426 EQUITY SECURITIES LTD. 513 HASSAN WAHAB 340 CITY-CODE HOLDINGS 427 ERIKITOLA BAYO 514 HAUWA ADAMU 341 COKER AUSTIN ABOLADE 428 ERONINI VICTORIA OBIANUJU 515 HERBERT-JUMBE ROGERS EGELE 342 COUNTER TRADE NIG. LTD. 429 ERUBA REGINALD AKARAGUGO 516 IBE CHRISTOPHER ONWUKA 343 DADA GOKE 430 ESHIETT MAYEN MODUPE 517 IBE CHUKWUEMEKA MANASSEH 344 DALIL ABUBAKAR ARDO 431 ESIRI IFEOMA 518 IBE DECLAN UGOCHUKWU 345 DALLEY BABATUNDE OLATOKUNBO 432 ESKAY INV. LTD.(RC 31415) 519 IBE, FELICIA NWADIE& ANR(ADMRS)IBE, EMEKA SU 346 DALLEY OYEBOLA OLUREMI 433 ESSIEN BASSEY A. 520 IBECHEOLE R.K. OBIAWUOTU 347 DAMULAK JAFARU MUHAMMED 434 ESURUOSO OLADELE, FOLARIN (DECD)/ADMORS 521 IBEGBU, ALBERT TAGBO & ANR 348 DANIEL ANDREW 435 ETIM FREDERICK EFIOK 522 IBELEGBU MARY

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523 IBENEME SYLVESTER ONYEJIAKA 610 JOLAOSHO AJIBOLA OLALEKAN 697 MMEREOLE CHUKWUNYERE CHARLES 524 IBIKUNLE EMMANUEL ADEMOLA 611 JONATHAN ADEWALE, 698 MMIRIKWE THEOPHILUS NDUBISI 525 IBITOYE SIMEON OLU 612 JOSEPH DANIEL INNOCENT 699 MODEBE CELESTINE 526 ICON STOCKBROKERS LIMITED 613 JULISAM ENTERPRISES 700 MOGAJI MUDESIRU, OLAKULELIN 527 IDEDIA JOHN 614 KALE OLADELE OLUSIJI 701 MOHAMMED TESLIM NUNOO 528 IDIKA JOSEPH 615 KAMALU JULIUS 702 MOHAMMED UMARU ALHAJI 529 IDIMOGU LINUS 616 KAMSON MOBOLAJI 703 MONEKE ODISIEINMA A.I. 530 IDIRIGBE ANTHONY ESEOGHENE 617 KANU-OJI OKORONKWO 704 MONEKE PETER NNANNA 531 IDOKO ALICE ALABI 618 KATCHY KANAYO 705 MONEKE SYDNEY IGBOANUGO 532 IDOWU OLAWALE, OLASUPO 619 KEMABONTA AYIBATONYE 706 MOORE ABDUL SALAM 533 IDOWU SAMUEL OLATUNJI OLUSEGUN 620 KOIKI KOLA ABASS 707 MOSANYA MICHAEL CHUKWUEMEKA 534 IDOWU STEPHEN OLUTUNDE 621 KOLEADE VICTOR ABAYOMI 708 MOSES ASINI A. 535 IFE - ALABI JOSEPH LEKAN 622 KOLEOSHO ROBERT BONUOLA 709 MPAMAUGO UCHECHUKWU YOUNG 536 IFEADI ANGELICA EZINNE 623 KUALE MENA, OVIEREYA 710 MULTINATIONAL INV. SECURITIES LTD. 537 IFEADI EMMA BRASCA UDO 624 KUDAISI AYODELE SARAT 711 MUONANU ELIAS AKAMERE 538 IFELOWO FELICIA, AMUAMUZIA 625 KUFORIJI NELSON ADEYEMI 712 MUONEKE OKOYE BONIFACE 539 IFELOWO FELICIA, AMUAMUZIA 626 KUKU GBADEBO 713 MUSTAPHA ABUDUL GAFARI OLA 540 IGBOAYAKA LIVINA NWAKA 627 KUTI OLUSEGUN 714 MUTIYU OKUYERA 541 IGBOKWE GEORGE CHUKWUMA 628 KUTI WURAOLA OLATUNDUN 715 NA INDO LITI 542 IGBOKWE, FLORENCE& ORS ADMORS OF IGBOKWE DOM 629 KUTON F.E., 716 NABEGU COMPANY NIG. LTD. 543 IGE JIDE 630 KUYORO MOBOLAJI OLADIPO 717 NDEM KINGSLEY 544 IGE SAMUEL OLADIPO 631 LADAPO PETER JIMO 718 NDIEGO EMMANUEL ONYEKWELU 545 IGWE SUNDAY SANDEY IGBINOGHENE 632 LADEGA JULIANAH OJUOLAPE 719 NDUKA PIUS 546 IGWEMADU GODWIN NDUMDIWE 633 LADIPO GBOLA 720 NDUKWE INNOCENT ANAMELE 547 IHEAKU EDWIN NNECHETA 634 LADIPO JUBRIL ADETUNJI 721 NEGOTIABLE FINANCE LIMITED 548 IHEANACHO BOSSMAN FRANCIS UCHE 635 LADOKUN Y. ADEROGBA 722 NENE ARIT 549 IHEANACHO HYACINTH NWOSU 636 LANIYAN SAMUEL LANREWAJU 723 NEPA STAFF COOP. SOC. LTD. 550 IHEANACHOR ZITA ONYETUGA 637 LANLEHIN OLALEKAN BABATUNDE 724 NEWDEVECO FIN. SERV. LTD (RC 23233) 551 IHEMEJE HUMPHREY EZEMONYE 638 LATINWO ADEBAYO 725 NEZIANYA STELLA 552 IHESIABA ANTHONY OCHIABUTO CHIMEZIE 639 LATINWO ADEJARE 726 NGBAKOR IFEOMA 553 IHEUKWUMERE CHIDIRIM ANYALEWECHI 640 LATINWO ADERIBIGBE 727 NIG. INTERNATIONAL SECURITIES LTD. 554 IJEBOI VICTOR O. 641 LATINWO MOJISOLA 728 NISEL NOMINEES A/C SOY-8801 555 IKE REGINA C. 642 LATINWO OLABIMPE 729 NJOKU EUNICE K. 556 IKEAGWU CYRIL IFEANYI 643 LATINWO OLADOSU 730 NJOKU FRANCIS, . 557 IKEAKA CHUKWUNONSO KENECHUKWU 644 LATINWO OLUYEMISI 731 NJOKU PAUL EKE-UGOMA NJOKU 558 IKEH GABRIEL OKONKWO 645 LATINWO OMONIYI 732 NKEMNACHO GEORGE BENIN 559 IKEH MODESTUS 646 LAWAL BASIRATU ADETUTU 733 NNADOZIE CHIBUNDU OGUNDU 560 IKEM MICHAEL UCHENNA 647 LAWAL OLUWATOYIN BOLUWUTIFE 734 NNADOZIE EZEKANACHI 561 IKEME GLADYS UCHENNA 648 LAWAL OMATAYO 735 NNAKAIHE ABEL EJINDUAKA 562 IKENNA NKEM ESTHER 649 LAWAL OMOTAYO 736 NNAMONU SILAS, CHUKWUMA 563 IKENTA ALFRED AFOAKUEJU 650 LAWRENCE CONSTANCE AMANO 737 NNANTA MOSES, IHENNACHO 564 IKONO OKON, AKPAN 651 LEE JAMES LIONEL 738 NNEBEDUM CHRISTOPHER ONNUAHOMADU 565 IKPEME ANNE INYANG 652 LIADE NURUDEEN OLATUNDUN AKANGBE 739 NNOGO RICHARD, CHUKWUNWEIKE 566 IKWUONYE ALEXANDER IFEANYICHUKWU 653 LIBATA AHMED IBRAHIM 740 NNOLIM ALEXANDER OBUMNWE 567 ILE TOM ELEKNWACHI 654 LIPEDE OYEBADE OBA 741 NNOROM EMMANUEL N. 568 ILEDO JOHN 655 LONGJOHN RACFEL DAVID 742 NTUK JOHN NTUK EKANEM 569 ILOKA EMMANUEL ONUORA 656 LOPEZ JIDE 743 NWABIA TONY 570 ILUGBAMI JOHN F. 657 M.L. SECURITIES LTD. 744 NWABUIKWU ESTHER NWAMAKA 571 ILUPEJU WASIU A. 658 MABADEJE ABDUL FATAI BIOLA 745 NWACHUKWU CHIMA, HERBERT 572 IMASUEN TONY ISOKEN 659 MABADEJE ADEBIYI 746 NWACHUKWU EMMANUEL CHUKWUNONYERE 573 IMEVBORE OLOLADE ABIOSE 660 MABADEJE FOLUSO 747 NWADIALO R.NKECHI 574 IMHANWA JULIUS AREKEDAN 661 MABAWONKU LAWRENCE AYODELE 748 NWAFOR EMMANUEL IDU 575 IMO GODWIN CHINKWE ENYI 662 MACARTHY MABEL M. SOFOLUWE 749 NWAFOR LIVINUS, 576 INNEH ULAMEN, EHIZOGIE 663 MACHEBE CHARLES IBEKWE 750 NWAGBARA GODFREY 577 INONE LAWRENCE UWANGUETIMEYIN 664 MADARIKAN TINUOLA OLAYIDE 751 NWAGBARAJI N. AMBROSE 578 INSAIDOO TESLIM SAM 665 MADU FIDELIS CHUKWUEMEKA 752 NWAGBO SHEDRACK OKECHUKWU 579 INVESTICON NIGERIA LTD. 666 MADU FIDELIS CHUKWUEMEKA 753 NWAGBOSOH ISAAC N. NWEKE 580 INYANG AKPAN AMOS 667 MADUBUKO AMAKA 754 NWAGWU DANIEL OKEREKE 581 IRIOGBE SYLVANUS ISIBENI 668 MADUEGBUNA JEROME BRIGHT NWUDE 755 NWAIGWE ROSE MARY 582 ISADARE OLUWATOYIN JOHN 669 MADUKWE G 756 NWAJIDE MICHAEL ONWUAMAEGBU 583 ISHOLA ADEBIYI 670 MAHMUD KADIRI JAFARU HAKEEM 757 NWAKAMA GODWIN CHUKWUYE 584 ISHOLA AMUSAN 671 MAINLAND TRUST LIMITED RC 86962 758 NWANA LINUS OKEKE 585 ISIAKA ADEGBOYEGA 672 MAJEKODUNMI SOLOMON O. 759 NWANA MARGARET IGWEGO 586 ISIBOR SOSA 673 MAJEKODUNMI VICTORIA IMAMIYE 760 NWANI SAMUEL 587 ISONG NNE CLEMENTINE 674 MAKINDE ADETAYO ADEBOLA 761 NWANKWO JOHNBOSCO IFEAACHO 588 ITSUELI JUSTUS UDUIMO 675 MALIKI MUSADIK LANRE 762 NWAOGWUGWU ROLAND, ALOZU 589 IYAMABO ANTHONY 676 MALIZU JOE LAWRENCE 763 NWATU KENNETH NNAJIOFOR 590 IYUN AYOOLA OLUROTIMI MORENIKE 677 MARQUES PETER AKINOLU 764 NWEREM, EDWIN & ANR ADMORS NWEREM M. O. 591 IZUKA UCHENNA NNEKA 678 MARRIOT SECURITIES LIMITED 765 NWEZI CHRISTOPHER NWOYEOKA 592 JAIYEOLA MOSES ADEGBOLA 679 MARTYNS-YELLOWE T.I. DR. 766 NWIGWE AUGUSTINE EMENALOM 593 JAIYESIMI ADENIYI ADEBULEGBE 680 MBA CHRISTOPHER 767 NWOBU GABRIEL CHUKWUEMEKA 594 JAIYESIMI OLADELE 681 MBADIWE PHILIP CHUKWUEMEKA 768 NWOKEDI SAMUEL 595 JAIYESIMI ROTIMI AYODELE KAYODE 682 MBANEFO CHIEKA 769 NWOKEOHA NATHANIEL IFEANYI JACOB 596 JAJA-WACHUKU IDU AKUBARA 683 MBANU OKEZIE SYLVESTER 770 NWOKO VINCENT OKENWA 597 JARIKRE LAWRENCE NINIORITSEATAN 684 MEBUDE FASASI ADEBOLA 771 NWOLE INVESTMENTS LTD., (RC 238312) 598 JEGEDE OLUWAFUNMILAYO 685 MEMEH DAVID URUNTODEN 772 NWORAH DIKE, 599 JEGEDE RUFUS BABALOLA 686 MENDES ANTHONY IDOWU AKINOLA 773 NWOSU BENEDICT ANELO 600 JEMIBEWON DAVID M. 687 METTEDEN MOHAMMED LAMEEN 774 NWOSU CHIBUIKE, . 601 JESSE ELIZABETH GHOMORAI 688 METU CHIDI 775 NWOSU CHRISTOPHER CHIMEZIEM 602 JIBUNOH FELIX CHUKUMA 689 MGBACHI BRENDAN, ARINZE CHARLES 776 NWOSU FESTUS UZOMA 603 JINADU LAMIDI OLANIRAN 690 MGBACHI FRANCISCA, OBIAGELI 777 NWOSU JAPHET 604 JINADU USMAN BABATUNDE 691 MGBEMENA SIMEON SUNDAY 778 NWOSU SUNDAY NNAMDI 605 JOE ISAAC ORITSESEWEYINMI 692 MGBOR AUGUSTINE ODIGWE 779 NWOYE SAMUEL, CHIKWUEMEKE(DECD) 606 JOEL-EZEANOCHIE EUGENE CHUKUNYERE U. 693 MIACHI THOMAS AJAYI 780 NZEM OKEAHIALAM CHUKWUJIKEM 607 JOHNSON ADEOLA 694 MICHAEL OZO NWANKONYE 781 NZERIBE BERNADETTE NTIANU 608 JOHNSON FREDWIN AKINTUNDE 695 MICHIKA YUSUF USMAN 782 NZERIBE JOY, GOODNESS 609 JOHNSON TITUS, OLAKUNLE 696 MMEKA JOSSY CHINYERE 783 OBADEYI ABAYOMI A.

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784 OBADINA HALEED OLADELE 871 OGUNLANA JOHN BOLAJI 958 OKORONKWO GRACE NWAOBILO 785 OBAKPOLOR SAMSON IGHOGBOYA 872 OGUNLEDUN FELIX ADEDOYIN GBADEBO 959 OKOYE ANIJA PETER 786 OBAOWO JOHNSON OLUKAYODE 873 OGUNLEYE ADEREMI AJIBOLA 960 OKOYE GODWIN MADUKA 787 OBASEKI AMBROSE ENOFE 874 OGUNLEYE GANYU ADEWALE 961 OKOYE TIKO 788 OBATA COMFORT KANAYO 875 OGUNLEYE JANET OLUFUNMILAYO 962 OKOYEOCHA CHIDI JOSEPH 789 OBATA YOUNG MOHA 876 OGUNLEYE TOLU.A. 963 OKPALA JUDE UDECHUKWU 790 OBAYI VICTOR CHIDI 877 OGUNLOWO HERMIN ADASSA 964 OKPALAOKA CHARLES IKEBUNA(DECD)(ADMRS) 791 OBI DAVID IGBOANUSI 878 OGUNLUSI EZEKIEL ILESANMI 965 OKPANACHI JAMES ACHEMU 792 OBI VERONICA GERTRUDE 879 OGUNMILUYI TIMOTHY OLUSOLA 966 OKRIGBOLOR JOSEPH 793 OBIAKU CHIEMEKA BONIFACE 880 OGUNNAIKE CHRISTIE OMOLOLA 967 OKUBALU GABRIEL ANIEMENA 794 OBIANYOR INNOCENT, CHUKWUDI 881 OGUNNOWO SUNDAY, OLUTAYO 968 OKUDO EDWARD CHIOBI 795 OBIDIEGWU ERNEST UCHE .A. 882 OGUNNUBI ADEBAYO 969 OKUMA AGHOGHO OGHOGHO 796 OBIDIKE SUNDAY OKOYE 883 OGUNNUBI ADEBOLA 970 OKUMAGBA DANIEL ETSOFONE TORIMI 797 OBIKA DAVID 884 OGUNNUBI ADEYEMI 971 OKUNLOLA KOLA, GBADEGESIN 798 OBIKO WILLIAM 885 OGUNNUBI KOLA 972 OKUNNU HABEEB BABATUNDE 799 OBIKOYA ABEL OLUSOGA 886 OGUNNUBI ROBERTS 973 OKUNRINBOYE CHARLES ADEREMI 800 OBINABO EMEKA PAUL 887 OGUNPEHIN ANU, MARGARET 974 OKUNSEINDE ANN 801 OBINALI CHRISTIAN UMUNNAKWE 888 OGUNSAKIN SAMUEL OMOLOLA 975 OKUNSEINDE BABAJIDE 802 OBIOFUMA MATHAIS UKADIYA NWANZE 889 OGUNSANYA EDWARD OLUFEMI 976 OKWARA-ONONIHU DURU AGUBATA C. CHIEF, 803 OBIOGBOLU ANTHONY OBIAGWUNCHA 890 OGUNSUYI IDEMUDIA MATTHIAS 977 OLA MICHAEL ADENIYI 804 OBIOHA RUFUS CHRISTOPHER 891 OGUNTOBI OLUSEYI .S. 978 OLABISI, ADEMOLA OLANREWAJU & ANR. OLABISI 805 OBIOMA ONYEDIKACHI 892 OGUNTOYINBO MOPELOLA OLUYINKA 979 OLABITAN AKINOLA MATHEW 806 OBISANYA OLAWUNMI 893 OGUNWALE OLU ALBERT 980 OLADAPO NELSON ABIOLA 807 OBISESAN AKINSANYA ALAMU 894 OGUNYE RAPHAEL IPOOLA 981 OLADEINDE GILBERT AFOLABI DESALU 808 OBONG EDO 895 OGUNYE RAPHAEL IPOOLA 982 OLADEPO JIMOH AKINPELU 809 OBUNADIKE IBEBUNAN FREDERICK 896 OGUNYEMI BABATUNDE 983 OLADIPUPO OLURANTI 810 OCHIEDIKE REGINALD MONDAY OGBONNA 897 OGWUIYI OKENWA KALU 984 OLADIRAN ISRAEL SUNDAY 811 ODEBISI SHITTU ADEREMI 898 OHAKIM, ABIMBOLAF. & OTRS ADMORS OF OHAKIM 985 OLADITI TUNDE 812 ODEGBAROYE VICTORIA OLUYEMISI 899 OHANUGO WILLIAMS 986 OLA-FADUNSIN TITUS 813 ODEGHE PAUL TEBEFIA 900 OJEDIRAN ADEGOKE OJERINDE 987 OLAITAN ADEKUNLE ABIOLA 814 ODELEYE FOLORUNSO OLU 901 OJELABI PETER ADIGUN 988 OLAJIDE JAMES ADEBAYO 815 ODERINLO OLUBUNMI OLUFUNKE 902 OJELADE ADEOLA 989 OLAOBAJU OLAJIDE 816 ODIBELI CHRIS. M. SMITH 903 OJEMEN COSMAS ALUEDE 990 OLAOYE BILIKISU BOLANLE 817 ODILIBE PATRICK BESCO CHUKWULOZIE 904 OJIAKO ANENE IZU 991 OLAOYE JIMO JAMES 818 ODILINYE BEN CHUKWUNETA 905 OJIAKU MAZI OKORO 992 OLAPO ISAAC DELE 819 ODOGBE FIDELIS 906 OJIENABOR VICTOR OSAHON 993 OLARINDE SAMUEL ADESINA 820 ODUBANJO CHRISTOPHER AIYEDUN 907 OJIKUTU SAMPSON ADEBISI 994 OLAWOYE EMMANUEL AFOLABI 821 ODUBANJO EMMANUEL KOLAWOLE 908 OJO ADEDIRAN AYODELE 995 OLAYIWOLA TOBBY M. 822 ODUEKUN FUNMILAYO 909 OJO ITOSEDEHI ONOMEKHAMEN 996 OLAYODE OLUYINKA FOLA 823 ODUFUWA, P. K & ANR. ADMOR. ODUFUWA, G 910 OJO JAMES LAYIOYE 997 OLISAKWE ROMANUS OFFORKA 824 ODUIGWE UZOMA EMMANUEL 911 OJO ODUNAYO, ALOLANLE 998 OLOGUNDE GABRIEL OLUWOLE 825 ODUJEBE HENRY ADETOLA 912 OJO OLUSOJI ADEBAYO 999 OLOGUNDUDU,M. L. & ANR. EXORS. OLOGUND 826 ODUKALE ALICE OMOLOLA 913 OJO-BENYS OLAYINKA VIYON 1000 OLOKODANA IBRAHIM 827 ODUKALE MARIAN FOLASHADE 914 OJUKWU CHIDI VINCENT 1001 OLOWU JOHN AYODELE TAIWO 828 ODUKALE SAMSON OLUFEMI 915 OKAFOR CHIDOZIE, SYLVESTER 1002 OLOYE AJAYI 829 ODULAJA K. ADEBAYO 916 OKAFOR CLINTON CHUKWUMA 1003 OLUFEMI MUDASIRU 830 ODUMADE W.O. 917 OKAFOR EDWIN OKECHUKWU 1004 OLUGBANI MOHAMMED SAHEED TOLANI 831 ODUMODU WALTER CHUKE UGO 918 OKAFOR ERIC DIBE 1005 OLUGBILE OLUDAYO, TUNMIDA 832 ODUNAIYA LAMINA ADEYEMO 919 OKAFOR EZE GABRIEL 1006 OLUKOLU ADETUTU 833 ODUNLAMI ABIMBOLA 920 OKAFOR GABRIEL EZE 1007 OLUKOYA ALFRED ADEYEMI 834 ODUNLAMI OLUMAYOWA OKEOWO 921 OKAFOR GEORGIANA NKIRUKA 1008 OLUOKUN YEKINI ADEPOJU 835 ODUNLAMI SIMEON FOLARANMI 922 OKAFOR GODWIN 1009 OLUSOLA OLUMAYIWA OLALEKAN 836 ODUNSI BABAJIDE ADEOLA 923 OKAFOR PASCAL C. 1010 OLUWADARA IBIDAPO, OLUWALOLOPE 837 ODUNUBI ALICE OMOTOLA 924 OKAFOR PETER 1011 OLUYEMI EMMANUEL AYODELE 838 ODUSAMI OLUSEGUN OLUGBENGA 925 OKAFOR PETER NNAEMEKA 1012 OMEATA EMMANUEL CHUKWUMA 839 OFFOH HERBERT UCHECHUKWU 926 OKARAME OKONKWO GEOFFREY 1013 OMENIHE EZEKIEL ONOLOGBU O. 840 OFOMA SYLVANUS NNANA 927 OKE MARIA OMOYENI 1014 OMOGBEHIN FOLUKE CAROLINE 841 OFONAGORO WALTER IBEKWE 928 OKEAHIALAM FRANCIS IKECHUKWU 1015 OMOGBOYEGA REMI 842 OFUYA DOMINIC EYITUEREMI 929 OKEDARA EMMANUEL 1016 OMO-IKERODA ABUBAKAR AKANBI 843 OGBEBO AMREMUBURE B. 930 OKEKE ELEAZER CHUKWUEMEKA 1017 OMOLAJA OLADAPO OLASENI 844 OGBOLU ANTHONY IKEM 931 OKEKE IBE SYLVANUS 1018 OMOLAJA SUNDAY O. 845 OGBONNAH AUGUSTINE ULONNAMEFULA 932 OKENIYI EMMANUEL OLADAYO 1019 OMOOGUN ABIODUN RICHARD 846 OGBONNAYA BENJAMIN, ONKWUCHEKWA 933 OKENWA JOSEPH NWAFOR 1020 OMOREGIE JONATHAN EDOBOR 847 OGBOZOR PAUL PIUS CHUKWUEMEKA 934 OKERE FREDRICK 1021 OMOTOSO OLUSUNBO 848 OGBUNUBI JOSEPH 935 OKERE UMU FREDRICK 1022 OMOTUNDE OLUREMI 849 OGBUOKIRI ABRAHAM CHIDIADI 936 OKEREKE DAVID OKOROKWO 1023 ONABANJO EBENEZER KAYODE O. 850 OGEDENGBE EUNICE BOLAJI 937 OKEREKE PETER CHUKWUDIMMA 1024 ONABOLU OLUKUNLE ADENIYI 851 OGHENEKARO IGHOJOVBE WINIFRED 938 OKESANYA KOLAWOLE 1025 ONANUGA AYODELE 852 OGILEGWU JOHN 939 OKESINA ADEKUNLE 1026 ONAYEMI ABAYOMI ADEWALE 853 OGUAGHA THERESA 940 OKIN HOLDINGS LIMITED 1027 ONI MODUPE ADEOLA 854 OGUAH, GABRIEL A.A. & ANR. ADMORS. OF OGUAH 941 OKNKWOR MATTHEW OKEKE 1028 ONIKOYI ALAKE RUKAYAT 855 OGUEGBU P. OBIORA 942 OKOLI ANACHEBE 1029 ONITA UZOMA 856 OGUERI EMMANUEL 943 OKOLI BERNARD N. 1030 ONIYIDE OLUWOLE OLUYOMI 857 OGULEDO CHRISTOPHER CHINEDU 944 OKOLO S.E. 1031 ONOBU BEN EBHOHIME 858 OGUNBADEWA GABRIEL OGUN 945 OKOLO SAMUEL EJIKE 1032 ONOCHIE CHRISTOPHER 859 OGUNBERU ADEMOLA 946 OKON IGUO MONDAY BASSAY 1033 ONOVO CLEMENT NNAJI 860 OGUNBOR WINIFRED 947 OKON PATRICK PAUL 1034 ONU IFEANYI KEVIN 861 OGUNDANA OLUREMI OLUROPO OLUFUNMI 948 OKONA EMMANUEL AKAM 1035 ONUIGBO NNENA OBIANUJU 862 OGUNDELE ABIODUN SOLOMON 949 OKONKWO AWA 1036 ONUMONU DANIEL AKUNNAKWE 863 OGUNDELE ADEMOLA DAVID 950 OKONKWO NNAMDI, SAMUEL 1037 ONUORAH OKUEZE PHILOMENA 864 OGUNDELE GBENGA OLADELE 951 OKONNY GOLDIE 1038 ONUWUEGBUZIA HELEN NNENNAYA 865 OGUNDELE SAMUEL ADEBAYO 952 OKORIE PASCHAL ENYERIBE 1039 ONUWUGHALU DANIEL 866 OGUNDIPE BABAJIDE 953 OKORIGWE CHIME CYPRIAN 1040 ONWELUZO BENAETTE SAMUEL KANAYOCHUK 867 OGUNFUYI OLUWAYOMI GODSGIFT 954 OKORO AGNES OWIGHORUA 1041 ONWENU IZUAGHADIAKU LIVINUS 868 OGUNGBESAN TAIWO KUNLE 955 OKORO THEOPHILUS 1042 ONWUAGWU EDNA.O. 869 OGUNKOYA MICHEAL GRACE 956 OKOROJI LINUS EZEALA 1043 ONWUCHEKWA IDIKA 870 OGUNKUNLE KAMORU-DEEN ATANDA 957 OKOROMAN IGNATIUS ETOYEAKU 1044 ONWUDIWE PRIOR DAVIES ILO

72 LIST OF UNCLAIMED DIVIDEND NO. 20 - CONTINUED

1045 ONWUEGBUCHU CHIMAOBINU EMMANUEL 1120 SANNI AREMU SHAFARU 1195 UDUKA HYACINTH IGWOWU 1046 ONWUKA DOROTHY ADANAWU 1121 SANNI NURUDEEN 1196 UGBOAJA REMIGIUS NDUKWE 1047 ONYEAKUSI EGBUNE PETER 1122 SANUSI SADIQ, 1197 UGOH CHRISTOPHER UZOSIKE 1048 ONYEDIKA ARINZE MIKE 1123 SANWO PATRICK AGBOLADE 1198 UGOH JOSEPH 1049 ONYEDUM ISAAC OKAFOR 1124 SATO & SATO INTERNATIONAL LIMITED 1199 UGOJI CHRISTMAS FUBARA 1050 ONYEMA WINSTON MBA 1125 SAVAGE ADEBUKOLA ARIKE 1200 UGWOAGONWU JOHN 1051 ONYIA AUGUSTINE NDUDI 1126 SAWYERR ABRAHAM ALADE 1201 UGWU REBECCA EKENMA N. 1052 ONYIUKE JAMES NWAFOR EMELIFE 1127 SECURITIES TRANSACTIONS & TRUST CO. 1202 UJOR BALOWIN OGBONNA 1053 OPAGUI RAPHAEL, NNABUIKE (DECD)/ADMORS 1128 SHAIBU KASIMU OSHOCHE 1203 UJUAGU IGNATIUS CHUKWUEMEKA 1054 OPARAOCHA TITUS 1129 SHEHU ZULU FUNSHO 1204 UKACHUKWU EMMANUEL CHIBUNDU 1055 OPE-AGBE NOIMOT OLUWATOYIN 1130 SHIEJIR ROSE 1205 UKACHUKWU UME ANTHONY 1056 OPEODU ALBERT 1131 SHITTU BASHIRU 1206 UKOR JOHN OKAFOR 1057 OPUTA OTUTU FRANK 1132 SHOAGA LATIFU ATANDA 1207 UKUEKU TAKPOBUNO 1058 ORAGUNYE MATTHIAS, CHUKWUEMEKA 1133 SHOBANDE ABAYOMI OLU 1208 UKWU ANGELA 1059 ORDAN BLESSING 1134 SHODIPO GABRIEL OLUYIDE 1209 UKWUAGU FIDELIS AHUMARAEZE 1060 OREDEIN SAM ADE 1135 SHOLEYE OLATUTU 1210 UMEADIM TITUS ONWUEEGBUSI 1061 OREFUWA AMOS OLADIPO 1136 SHOLOTAN SALLIE EBIRONKE 1211 UMEH ANTHONY OBI 1062 OREFUWA SURULERE ADEDAYO 1137 SHONUBI OLUWATOSIN ABIODUN 1212 UMEIKE CHIJOKE NNEM 1063 ORIAIFO PETER IMOKHIAN 1138 SHOPEJU EFUNBOSEDE AYOTUNDE 1213 UMEJIEGO EKWUNIFE JOHN 1064 ORIZU EDWARD NWOKOLO 1139 SHOPEJU EFUNYEMI 1214 UMENWA LINUS, OZOEMENAM 1065 ORUGBO CYRIL 1140 SHOYINKA BOLA.S. 1215 UMEOJIORA EMMANEL ANOLUE 1066 OSENI FOLABI, 1141 SIGHA JERRY COUPLE WOYENGIEMI 1216 UMEWENI TIMOTHY 1067 OSIEBE JOHN, JOSIAH 1142 SIMISAIYE MUJIBATU, MARY IYABO 1217 UMEZ ERONINI EMMANUEL MERUO 1068 OSIFESO TAIWO, . 1143 SOBOGUN ONENGIYEOFORI I. 1218 UMOH EDET 1069 OSIJO JOSEPH ADESANYA 1144 SODEINDE ADEDAYO 1219 UNACHUKWU BERTRAND UBA 1070 OSILAJA GLADYS FEHINTOLA 1145 SODITAN ALBERT OLUSEGUN 1220 UNAGWU DANIEL 1071 OSINAKACHUKWU ILOKWASI KEVIN 1146 SODIYA OLUYEMISI 1221 UNIGWE CHARLES ANAKWEUBA 1072 OSOBA MICHAEL, KOLAWOLE (DECD)/ 1147 SOJI AMUSU KOFFI 1222 UNO ANFAI 1073 OTI STEVE MOSES 1148 SONOIKI OLUBOLA OLUKOMIYO 1223 URECHUKU SAMUEL 1074 OTOMA NATHAN IREJU 1149 SOTANNDE S. ANR. (ADMORS.) SOTANNDE, F 1224 USIM ROBERT NJIUWAOGU 1075 OTOMEWO PAUL AZANOR 1150 SOUTHEY ATIM USUA 1225 USMAN BUKAR 1076 OTTUN RAJI SADIKU 1151 SOUTHEY JAMES ASUQUO 1226 UTODIO INNOCENT EKOMOBONG 1077 OVAJE NAOMI ARUOREZI, DR 1152 SOWUNMI MARGARET AYO 1227 UTODIO JOSEPHINE ENAKEME 1078 OWOLABI FASAKIN "HOLD" ALLEGED DECEASED 1153 SOYELE ADUNNI ADEFUNMILOLA 1228 UTULU BENEDICT MBANEFO 1079 OWOLABI PETER, 1154 SULAIMON IDOWU OLABAMIJI 1229 UWADILEKE ANTHONY ONWUMECHURUBA 1080 OWORU OLUGBEMISOLA 1155 SUMMIT FINANCE COMPANY LIMITED 1230 UWAGBOE EMMANUEL ENABULELE 1081 OWUAMANAM ATHANASIUS CHUKWUNYERE 1156 SUMMIT STRATEGIC SERVICES LTD 1231 UWAKWEH LUKE ELEDO 1082 OYAWOYE SALAMI OYEBAMJI 1157 SUPPORT SERVICES LIMITED 1232 UWERU GODWIN ORUGBA 1083 OYE - SOMEFUN ADETORO ADEKUNBI 1158 SYNGER AUSTEN WOLGEN 1233 UZOEGHELU VERONICA UMEBE 1084 OYEBADE P.T. 1159 TAIWO OLADELE A. 1234 UZOEGHELU, VERONICA U. & ANR ADMS OGBU IK 1085 OYEDIRAN BASHIR AYODEJI 1160 TAIWO SAMUEL BANKOLE 1235 UZONDU OGBONNA SAMSON 1086 OYEKAN AFOLABI 1161 TALABI BABATUNDE OLUFUNMILOLA 1236 VERTEX INVESTMENT LIMITED . 1087 OYEKANMI OMOLARA JOSEPHINE 1162 TALIB BAANDE AHMED 1237 VICTOR ADEMUYIWA 1088 OYEKANMI SULE AJAGBE 1163 TEJERE JACKSON EJOVI 1238 VINCENT OLABODE 1089 OYELEKE TIMOTHY ADEBAYO (HOLD) 1164 TEJUOSHO SAMUEL ADETUNJI 1239 VIVA SECURITIES LTD 1090 OYEMADE GABRIEL A. ADEBOLA 1165 TELLA MOSES BAMIDELE 1240 WACHUKWU JAJA ANUCHA DR (DECD) (ADMORS) 1091 OYENIYI BIMPE 1166 TELLI ABIOLA ADMOR. OF TELLI, BABALOLA TAJU 1241 WILCOX GEORGE IBIWARI 1092 OYEWOLE EZEKIEL OLADOSU ADEREMI 1167 TERIBA OWODUNNI 1242 WILLIAM AKINTUNDE I. OLADIPO 1093 OYEYEMI SAMUEL AJADI BOLA 1168 THOMAS AYORINDE, 1243 WILLIAMS LATIF AKANNI 1094 OZUZU CHRIS. 1169 THOMAS WILLIAM BABATUNDE 1244 WILLIAMS SOBEREKON 1095 PALMER ALETOR 1170 TIAMIYU SAHEED, ADELEKE 1245 WILLIAMS SOJI 1096 PAM YAKUBU, AUDU 1171 TIJANI MARY, OLOLADE 1246 WILLIAMS, FRACIS O. & ANR. ADMORS. WILLIAMS 1097 PARK CORDON WILLIAM 1172 TIMOTHY JOHNSON OLUFEMI ADEOYE 1247 WINTRUST LIMITED RC 36920 1098 PASE JOHNSON OLUBUKUNOLA 1173 TOM BEE INVESTMENT LTD. 1248 WUSU OLUTONU OLUFUNMILAYO 1099 PERRIRA ANTHONY OLATUNJI 1174 TONY-GAY INVESTMENT LTD 1249 YAKUB QUADRI 1100 PETER DONATUS EFFIONG 1175 TYLO INVESTMENT LTD. RC 27138 1250 YEKINNI ADISA, AKINSANU 1101 POPOOLA EMMANUEL OLUFEMI 1176 UBA JOEL NWABUEZE 1251 YINUSA GANIYU 1102 PORBENI PRITLOVE MARUKAKPO 1177 UBAH CHIJINDU BRUNO COLUMBA 1252 YOLOYE VICTORIA OLUFUNKE 1103 RABIU MORIAMO 1178 UBANI CHIKA ANTHONY 1253 YONREN ERNEST HERMAN 1104 RAIMI SUNMOLA 1179 UBEH RAPHAEL NDEM 1254 YUSIFU SAKA (DECD.) 1105 RAIYETUNBI ABIODUN JOHN 1180 UCHEFUNA IGWENAGU BERNARD 1255 ZUBAIRU ALIYU 1106 REMAWA SARATU SULE 1181 UCHENDU RICHARD UMUMNEBIKE 1107 ROBERTS ADEBAYO 1182 UCHENDU YOUNGEE WILLIAMS OKORIE 1108 ROBERTS LATIFAT ADETEJU 1183 UDE JOHN OTAKA 1109 SADIQ BABA ABBA 1184 UDE LIVINUS 1110 SAKA HAKEEM OLORUNTOYIN 1185 UDEAGHA AGUMADU ASIEGBU 1111 SALAAM FATAI OWOLABI AGBAJE 1186 UDENSI MARY 1112 SALAKO MARCOF ADEREMI 1187 UDEZE MABEL UTATAZIAN 1113 SALAMI AJIBOLA IBRAHIM 1188 UDO INYANG CHARLES AKPAN 1114 SALAMI LAYI 1189 UDO REUBEN KENRICK 1115 SALAU BABATUNDE TAJUDEEN 1190 UDOFIA IME EMMANUEL 1116 SALAWU LATEEF ALAGBE 1191 UDOH AFIONG EFEFIONG 1117 SANI MERO SOLA ALAKE 1192 UDOH JOHN BASSEY 1118 SANI SHETTIMA AUDU 1193 UDOHEYOP INI MATTHEW 1119 SANNI ABDULKADIR, IDOWU 1194 UDOYE CECILIA O.

73 The Refreshing Drink With a Real Creamy Taste

YOUR FAVOURITE If It’s Not SANS CREAM SODA COMES IN NEW LOOK, It Can’t Be The Same As SAME UNIQUE TASTE, SAME QUALITY

74 Enjoy The Refreshing Taste Of Natural Fruits

rinnkkss FFllaavvoouurreedd DDri

Peach Apple Banana & Flavour Flavour Lime Flavour

SUGAR-FREE LOW CALORIE Choose Your Flavours Bien is a light and refreshing NON-ALCOHOLIC carbonated drink SERVE CHILLED

75 COUGHParkalin PREPARATIONS

With Codeine: Expectorant: For Children: Dry and irritating cough Chesty (productive) cough Cough in Children

...... Reliable relief from cough

76 Caring Mother Knows Best Every Child’s Good Health Is The Mother’s Priority

Paracetamol For Infants and Babies A Brand of Vitamin C

A Brand of Multivitamin

77 For normal food eaters. For people who eat spicy foods

Fight Germs, mouth odour, & gives a Fresh Breath

BRETT MINTY BRETT GOLD SOME LIKE IT COOL SOME LIKE IT HOT

- Removes residual smell of spicy foods, and alcohol.

- Reach area of the mouth not accessible by toothbrush.

- Can be used as a compliment for regular brushing for effective hygiene.

78 HEXEDENE

THE MOUTHMEDICATION FOR AND THROAT INFECTIONS

EACH 100ML BOTTLE 100ML CONTAIN 100MG HEXETIDINE

Useful as an antiplaque

Use in the treatment of “strep” throat, tonsillitis, pharyngitis, laryngitis, gingivitis, ulcerative stomatitis, oral thrush Used for post-operative oral hygiene.

Note: ‘Use With Caution in Pregnant women’

79 SALIN’S LINIMENT

“Has advantage to penetrates sufficiently without much rubbing” “Relieves Muscle and Joint Pain”

80 REVITONE

Is fortified with iron, containing Thiamin, Riboflavin and Cyanocobalamine used for blood enrichment and building after suffering anaemia and other blood sapping ailments. The Family Blood Tonic

81 ANTASIL

... For The Relief of Indigestion, Heartburn, and Gastric Hyperacidity

82 OMEPRAZ OMEPRAZOLE CAPSULE 20mg

Capacity To Heal Gastric & Duodenal Ulcer

83 Parkaprim

... a broad spectrum Antibacterial Drug

84 NOTES

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