Hope Chams PLC springs eternal
2011 Annual Report and Accounts
Chams PLC 2011 Annual Report
Table of Contents
Table of Contents 3 Consolidated Profit And Loss Account 27
Vision & Mission Statement 5 Consolidated Balance Sheet 28
Directors, Officers & Professional Consolidated Statement Advisers 7 of Cash Flows 29
Chairman’s Statement 9 Notes to the Financial Statements 30
A Brighter Tomorrow! 10 Consolidated Statement of Value Added 43 Corporate Governance 12 Consolidated Financial Summary 44 Directors’ Report 14 Products and Services 45 Report of the Audit committee 22 Subsidiaries 46 Report of the Independent Auditors 23 List of Unclaimed Dividends 47 Statement Of Significant Accounting Policies 24 Corporate Directory 55
At A Glance 26 Hope springs eternal
4 Chams PLC 2011 Annual Report
Vision & Mission Statement
OUR ENVISIONED FUTURE A company of Nigerian origin, we will be extremely influential and highly visible in global technol- ogy. Our trusted cutting edge technology will enhance the quality of life in a manner that glorifies God. We would be employer of first choice.
Our Vision To be the leading provider of innovative and beneficial technologies that improves the quality of life.
Our Mission To design and deploy innovative and beneficial technologies, while creating value for all our stakeholders
Our Core Values 1. Create a healthy and dynamic work environment characterized by Z-CASE • Zero tolerance for excuses • Candor • An entrepreneurial spirit, • Strong bonds between past and present Chams family • Excitement 2. It is imperative to delight our customers by making our technologies available 24/7 3. We commit to giving back to society through group activities that will positively impact on our communities. 4. Faith in God
5 Hope springs eternal
6 Chams PLC 2011 Annual Report
Directors, Officers & Professional Advisers
BOARD OF DIRECTORS BANKERS yy Prof Adebayo Dada Akinde - Chairman • UBA PLC yy Sir. Demola Aladekomo - Managing Director Plot 226, Idowu Taylor Street yy Alh. Idi Mohammed Farouk - Member Victoria Island, yy Engr Akin Sawyerr - Member Lagos. yy Alh. Tunde Yusuf - Member • First Bank PLC yy Mr. Femi Williams - Member Adeola Odeku yy Very Revd Ayo Richards - Member Victoria Island COMPANY SECRETARY Lagos. • Zenith Bank PLC • Idowu Logile Esq. Ajose Adeogun Victoria Island LEGAL ADVISERs Lagos. • Marriot Solicitors • GTBank PLC 91 A, Lewis Street, Awolowo Road Lagos. Ikoyi Lagos. • Straddle Partners 199, Igbosere Road, • Fidelity Bank PLC Opposite High Court, Kofo Abayomi Street Lagos. Victoria Island Lagos REGISTERED OFFICE • Skye Bank PLC Adeola Hopewell Street • 8, Louis Solomon Close, Victoria Island Off Ahmadu Bello Way, Lagos Victoria Island, Lagos. • Keystone Bank Limited Allen Avenue AUDITORS Ikeja • BDO Professional Services Lagos ADOL House, • Access Bank PLC 15 IPM Avenue,CBD, Alausa, Awolowo Road Ikeja, Lagos. Ikoyi Lagos REGISTRARS • Wema Bank PLC • First Registrars Idowu Taylor Street Plot 2, Abebe Village Road Victoria Island Iganmu, LagosBA Plc Lagos
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Chams PLC
Notice of Annual General Meeting NOTICE IS HEREBY GIVEN that the Twenty-Eighth Annual General Meeting of Chams Plc will be held on Wednesday 21st November, 2012 at Chams PLC, Plot 1288, Ahmadu Bello Way, Garki, Area 11, Abuja, at 11:00 am for the transaction of the following businesses:
ORDINARY BUSINESS 1. To receive the audited accounts of the Company for the year ended 31st December, 2011 and the reports of the Directors, Audi- tors and Audit Committee thereon. 2. To re-elect the Directors. 3. To fix the remuneration of the Directors. 4. To re-appoint the Auditors and authorize the Directors to fix the remuneration of the Auditors. 5. To elect/reelect members of the Audit Committee. NOTES a. PROXIES A member of the Company entitled to attend and vote at the meeting is entitled to appoint a proxy to attend and vote instead of him/her. A proxy need not be a member of the Company. A proxy for an organization may vote on a show of hand and on a poll. To be valid, executed forms of proxy should be deposited at the registered office of the Company or with the Registrars not less than 48 hours before the time of holding the meeting. b. CLOSURE OF REGISTER The Register of Members and the Transfer Books of the Company will be closed from Thursday 8th October to Wednesday 14th October, 2012 both days inclusive. c. AUDIT COMMITTEE In accordance with section 359(6) of the Companies and Allied Matters Act, Cap C20 LFN 2004, a shareholder may nominate another shareholder for appointment as a member of the Audit Committee by giving notice to the Company Secretary at least 21 days before the Annual General Meeting.
Dated this 30th day of October, 2012 BY ORDER OF THE BOARD
IDOWU LOGILE ESQ. Company Secretary
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Chairman’s Statement
istinguished Ladies and Gentlemen; it is my of our major projects, notably the independent deployment pleasure to welcome you to this year’s Annual and management of ATM’s and the National ID Project cou- General Meeting holding today 21st November, pled with the long incubation period of these projects have 2012. As is customary, we will be presenting to led to the sub-optimal turnover. you the audited Financial Statements for the fi- Your Board of Directors and management have had great con- Dnancial year ended 31st December 2011, an overview of the cern about the level of performance of your company in the operating environment and the performance of your com- recent past. Realizing that urgent measures are required to pany for the year. redress the situation, your Board of Directors directed man- agement to carry out an internal stock taking exercise of the Overview of the Operating company to assess the state of affairs of the company. More Environment importantly, the Board embarked on an external assessment by engaging the services of consultants who have expertise It was clear before the end of 2011 that many economies, and vast experience in business turnaround to help us in the particularly in Europe were in for a double dip recession in- reinvention and repositioning of your company for excellent stead of recovery. Members of the Eurozone continue to make performance. concerted efforts to ensure that bail-out packages are made available to the worst-hit economies. All your Directors participated actively in the exercise which has culminated in a strategic business plan that covers the 2011 in Nigeria was characterized mainly with the general next five years inclusive of a two-year corporate plan. elections and efforts by the Central Bank of Nigeria (CBN) to make banking services more efficient and responsive to de- Execution of these plans have commenced from the last quar- mands in a world where change is rapid and resultant effects ter of 2012. We see the light at the end of the tunnel and at are profound. this time covet your understanding and prayers. The year under review, like 2010, witnessed an almost non- existent provision of credit by the banks despite the CBN’s Board of Directors liquidity injection into the banking system. There are no changes to the Board of Directors in the year under The CBN cashless policy came alive with the introduction review. of various instruments and guidelines to drive its operations within the country. This was a good development for your Future Outlook company as it not only got the CBN’s license as a PTSP but also the approval to deploy the BITEL brand terminals. Your Several long-awaited Public Sector Projects have either been company also got a license as a Mobile Payment Operator in awarded or are in execution stage. Our new strategic direction Nigeria. is also taking us away from over dependence on Public Sector business. We have the people and infrastructure to deploy in While these initiatives have generally been applauded to be this new direction. steps in the right direction, there is no doubt that additional structures and reforms are required in order to consolidate on I wish to express my profound appreciation to the manage- the gains made so far. ment team for their dedication and sacrifices. I also thank my colleagues on the Board for their painstaking commitment and cooperation throughout the financial year. Finally, I thank Our Performance our esteemed shareholders for their faithfulness and support Regrettably, the projects we have on hand and opportunities for the company. around us have not translated into the performance we envis- Thank you and God bless. aged when promises were made to the distinguished gather- ing at the last Annual General Meeting. Inconsistencies in Government policies which affected some Bishop(Prof) A. D. Akinde
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Managing Director’s Speech A Brighter Tomorrow!
Dear Shareholders ear 2011 was a year replete with notable events both in the political and business spheres with attendant effects on the performance of your company, Chams Plc. The year started on a bright note with signs that the global financial meltdown impacted by strategic interventions was Ybeginning to give way to a sound and promising future. Economic and structural reforms held sway all through 2011. Whilst the reforms would seem to have benefited some sectors of the economy, for example, the Banks, Telecommunication, Manufacturing and Insurance, a greater percentage of companies in the other sectors were not so lucky. Businesses had to grapple with persistent threat of inflation throughout the year under review. In spite of CBN’s determined efforts to reduce inflation to a single unit, it was never achieved. In fact, the Consumer Price Index obtained from the National Bureau of Statistics (NBS) for the Month of December 2011 indicates that inflation rate in Nigeria only dropped marginally from 10.5% in November, 2011 to end the year at 10.3%. Though the management of your company worked tirelessly to avert any possible adverse impact that the year under review could have on our businesses, we still fell behind on our expectations primarily due to the following reasons: 1. Limited access to credit in the local banking sector due to current banking reforms
2. Policy inconsistency of government and its attendant effects on businesses and projects
3. Continued delay of the national budget and poor implementation which led to its extension to the 3rd and 4th quar- ters of the year 2011.
CONTINUOUS RESTRUCTURING The year 2011 witnessed the commencement of a deliberate change of strategy for competiveness in view of the prevailing economic challenges. We also restructured parts of our business to a central location as part of efforts at efficient use of space and other resources. The Group restructuring is still ongoing and will continue until we find a right balance that will help us deliver on our promises to our valued stakeholders.
CBN “CASHLITE” PROJECT At Chams, we are already poised to take full advantage of the Central Bank of Nigeria’s “Cashlite” project. Our Approval-In-Principle (AIP) mobile payment license was obtained in the previous year and our solution is already being deployed on a pilot phase with remark- able success. The solution characterized by our usual innovativeness, and ease of use and cutting edge technology promises to change the face of payment in Nigeria. It must be mentioned that this singular solution is the future of transactional and payment processes with its huge propensity to dramatically yield untold value for our esteemed stakeholders. We are primed to roll out in full force with a view to capturing a substantial size of the market.
10 Chams PLC 2011 Annual Report
PAYMENT TERMINAL SERVICE PROVIDER (PTSP) LICENSE AND TERMINAL CERTIFICATION In furtherance of the CBN’s “Cashlite” project, we were awarded a PTSP license by the apex bank through one of our subsidiary com- panies -Paymaster. The license is to enable your company deploy and maintain Point of Sales Terminals which is projected to be one of the major channels of the Cashlite project. It is important also to note here that the Central Bank of Nigeria (CBN) also approved BITEL POS/POT as one of the terminals to be deployed for the project. This particular brand of terminal is exclusively represented in Nigeria by your company. May we state here that the Cashlite project kicked off very well and has been gathering momentum by the day since then. We are convinced that it is the best for our economy at this time. If the apex bank sustains the awareness of the project, it will only be a mat- ter of time for our people to catch up with the culture of reducing the level of cash they carry around. Needless to mention that your company is poised to take maximum advantage of this project with our innovative products and solutions.
Corporate Governance As we said at our last AGM, your company appointed a Group Head, Internal Audit, as a result of our resolve to ensure a strong risk management and adherence to Corporate Governance. The Board Committees were further strengthened in order to enable them deliver on their mandate. These changes have helped in our overall objectives of maintaining integrity and independence of the Board of Directors’ supervisory responsibilities and that of management.
Preparing for the Future The future, I can say with all sense of certainty is bright. Though we have had unexpected delays in several projects due to the prevailing operating environment, we have sound strategies to survive the storm. At our last AGM, we promised shareholders an improved performance based on our projections for the 2011. The first two quarters of the year looked very promising and this was partly the basis for our promises. However, the general elections of 2011 stalled a lot of businesses in the country as attention was focused on completing the exercise. A lot of business activities suffered from this unfortunate incident and our company was not spared. The persistent security challenges that have rocked several parts of the country also have had a very negative impact on businesses. These events have made our company re-strategise in order to remain in business and deliver on our promises to shareholders. It may have taken longer than expected, but we believe that with all the investments that we have made and the unfolding opportuni- ties, our future is certainly bright. Perhaps because of the nature of our very dynamic Industry (ICT), the story of Chams is one replete with challenges and victory. We have faced several odds right from the foundation of this Company to get to our current position. The good story however is that we have always triumphed in the end. Today, there are still challenges that we face but because of our faith in God and our dogged commitment coupled with your support, we are confident that it can only get better. As a Company noted for innovation, Chams will not relent in the quest towards breaking new grounds in innovation. While working on new solutions that will deliver additional value to our nation and make our shareholders smile. Several projects that have been in development stage and the ones being pursued are all gradually coming through with one award after the other. One thing that we will promise you by the grace of God is that your company has a brighter future. Paradoxically, new government policies make our technologies very relevant to the future and this is where we believe that we will continue to have the edge over others. I must sincerely commend you, our esteemed shareholders for your patience and continued support these past challenging years, be assured that we are committed to returning a worthwhile and bountiful harvest for your faith and investment, which is why we are still in business. Thank you for your attention and God Bless you.
Demola Aladekomo
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Corporate Governance
he companies that make up the Chams Group are COMMUNICATION BETWEEN advocates and practitioners of corporate governance BOARD OF DIRECTORS AND codes. The practice of corporate governance fosters SHAREHOLDERS openness, transparency, accountability, honesty, self- lessness, integrity, leadership and performance mea- Apart from the Annual General Meetings, your company has Tsurement. This is visible through the adherence of international recognised the need to carry the shareholders along through best practice in the following areas: periodic sensitization of developments in the organization. This is to ensure that there is an avenue for continuous flow of infor- COMPLIANCE WITH THE CODE OF mation and to foster better understanding. CORPORATE GOVERNANCE CORPORATE SOCIAL The Board as a whole is comprised of a number of sub-com- RESPONSIBILITY mittees amongst which are audit and finance committees. The Board is comprised of high profile non-executive members serv- Corporate Social Responsibility is an integral part of the activi- ing in various capacities in the sub-committees mentioned above ties of the companies in the Chams Group. We believe in giving and involved in setting the emoluments of the managing direc- back to the society and this is done through activities such as tor and other directors of the company. The non-executive direc- the Chams Theatre series ,a strategic contribution of Chams Plc tors are appointed for a fixed period and have to be re-elected to the rejuvenation of the Arts in Nigeria and the soup kitchen by the shareholders at an AGM. The company is committed to through which we reach the under-privileged and disadvan- full disclosure and transparency in providing information to all taged in the society. stakeholders because of its belief that this is the most important The amount of donation and charitable gifts the Chams Group driving force in any good governance process. made amounted to N27,936.465.11 in 2011.
RISK MANAGEMENT FUNCTION GOAL CONGRUENCE AMONG Across the group, the internal audit function ensures that com- STAKEHOLDER GROUPS pliance, operational and financial controls are in place, in order This has to do with ensuring that there is synergy between di- to minimize risk. The Internal Audit unit ensures that these func- rectors and shareholders thereby reducing conflict and ensuring tions are performed. The Audit Committee also has risk manage- that directors fully maximize the wealth of shareholders. Other ment oversight function to ensure full compliance. stakeholders are also taken into consideration such as suppliers, employees and so on, in order to ensure that components of PUBLISHING OF FINANCIAL each organization are working in tandem towards the realiza- STATEMENTS AND AUDITORS tion of stated objectives. REPORT The implementation of audit exercises and the publishing of REMUNERATION company annual reports as well as group annual reports help The remuneration of directors and top-level management are to foster transparency and openness. The use of highly qualified performance based. This is to ensure that the company does not external auditors from a reputable audit firm helps to minimize reward directors and managers for failure and non-performance. external risks as well as ensuring that information contained in our financial reports are accurate. Your company is continuously QUALITY CONTROL working on improving the free flow of information to all stake- Revalidation of ISO 9001: 2008 holders and the public. The organizations within the Chams Group work assiduously to ensure that their operations meet international standards. This can be seen through the award of ISO certification and recer-
12 Chams PLC 2011 Annual Report
tification to some member companies in the group while plans ATTENDANCE AT BOARD towards getting ISO certified are in top gear for those yet to be MEETINGS FOR THE YEAR ENDED certified. 31ST DECEMBER 2011
BOARD FINANCE AND Director No of Attendance CORPORATE GOVERNANCE Meetings COMMITTEE Bishop (Prof) A. D. Akinde 4 4 The committee acts on behalf of the Board on matters relat- Mr. Demola Aladekomo 4 4 ing to financial management. It reviews the budget, audited ac- Alh. Idi Farouk 4 2 counts and is responsible for providing useful advice to the com- Alh. Tunde Yusuf 4 4 pany’s management team as and when required. The members Engr. Akin Sawyerr 4 4 are as follows: Mr. Femi Williams 4 4 Name Status No of Atten- Very Revd. Ayo Richards 4 4 Meetings dance Very Rev Ayo Richards Chairman 4 4 AUDITORS Alh. Tunde Yusuf Member 4 4 The Auditors, Messrs BDO Professional Services have indicated Mr. Demola Aladekomo Member 4 4 their willingness to continue in office in accordance with Section Idowu Logile Esq. Secretary 4 4 357(2) of the Companies and Allied Matters Act CAP C20 LFN, 2004, a resolution will be proposed at the Annual General Meet- Olayinka Ikiebe Member 4 4 ing to authorise the Directors to fix their remuneration. Christiana Olaniyan Member 4 4
AUDIT COMMITTEE BY ORDER OF THE BOARD This is established in accordance with part C of the code of Idowu Logile Esq. corporate governance. It comprises dedicated individuals with Company Secretary proven integrity that have a thorough understanding of stan- dard practice.
Name Status No of Atten- Meetings dance 1. Mr. Emmanuel Onochie Chairman 3 3 2. Very Rev Ayo Richards Member 3 3 3. Alh. Tunde Yusuf Member 3 3 4. Mr. Moses Igbrude Member 3 3 5. Mr Femi Williams Member 3 3 6. Mr Doyin Owolabi Member 3 3
BOARD MEETINGS The Board and its Committees met as follows:
Board/Committee Meeting No of Meetings Board of Directors 4 Chams Plc Audit Committee 3 Board Finance and Corporate Governance 4 Committee
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Directors’ Report For the year ended 31 December 2011
he Directors present their annual report on the af- of Transaction and Point Of Sales terminals; ChamsAcccess fairs of Chams Plc (“the Company”), and subsidiaries limited, licensed consortium for the deployment of ATMs in the (together “the Group”), together with the group au- country also involved in the deployment of multi application ter- dited financial statements and the auditor’s report for minals; and ChamsSwitch , engaged in provision of the e-pay- Tthe year ended 31 December 2011. ment transaction processing platform for the Nigerian Market. Legal Form Operating Results The company was incorporated as a private limited company The following is a highlight of the Company’s operating results on September 10th 1985 and became a public limited company for the year under review: in 2007. At the 23rd Annual General Meeting of the Company Group Company on 6 June 2008, the shareholders authorised the Directors to 2011 2010 change the name Chams Nigeria PLC to CHAMS PLC. Subse- N’000 N’000 quent to the Placements authorised by the shareholders, an ap- plication was made to the Council of the Nigeria Stock Exchange Turnover 1,777,737 1,309,435 for the admission of all the issued and paid up shares of the Cost of sales (1,090,951) (784,415) Company to the Daily Official List of the Exchange through List- Gross profit 686,786 525,020 ing by Introduction. Loss before taxation (1,198,400) (596,616) Principal Activities Loss per share(Naira) (26) (13) The principal activities of Chams Plc and its subsidiaries continue to be provision of identification, transaction and payment solu- Share capital History tions. This includes the development, deployment, implementa- tion and maintenance of technol- Year Authorised Issued Share Consideration ogy based systems, computing Capital and solutions platforms, commu- Increase Cummulative Increase Cummulative nication infrastructure and other services designed to facilitate the 1985 100,000 100,000 100,000 100,000 Cash operations of all forms of elec- 2004 99,900,000 100,000,000 0 100,000 Cash tronic business. 2005 200,000,000 300,000,000 0 100,000 Cash 2006 0 300,000,000 99,900,000 100,000,000 Cash Subsidiaries 2007 2,200,000,000 2,500,000,000 72,060,000 172,060,000 Cash The company has four subsidiar- 2007 2,500,000,000 5,000,000,000 172,060,000 344,120,000 Cash ies; CardCentre Nigeria Lim- 2007 0 5,000,000,000 1,378,480,000 1,720,600,000 4 for 1 Bonus ited, engaged in the production 2008 0 5,000,000,000 2,000,000,000 3,720,600,000 Cash and manufacturing of Cards – 2008 0 5,000,000,000 975,000,000 4,696,060,000 Cash Identity, payments, Smart cards 2009 0 5,000,000,000 0 4,696,060,000. Cash et al; PayMaster Limited, en- gaged in the deployment of Point 2010 0 5,000,000,000 0 4,696,060,000 Cash 2011 0 5,000,000,000 0 4,696,060,000 Cash
14 Chams PLC 2011 Annual Report
Directors who served during Analysis of Shareholding the year The analysis of the distribution of the shares of the Company as The following Directors served during the year under review: at 31 December 2011 is as follows:
Name Designation Range of shares Number of % Number of shares Sharehold- Bishop A.D. Akinde Chairman ers Mr. Demola Aladekomo Managing 1-1,000 504 4.86% 329,680 Director 1,001- 5,000 1,266 16.08% 4,120,913 Alhaji Idi Mohammed Farouk Member 5,001- 10,000 911 15.05% 7,759,362 Engr. Akin Sawyer Member 10,001 - 20,000 717 8.76% 11,600,002 Mr. Femi Williams Member 20,001 - 50,000 1662 11.15% 63,873,350 Mr. Tunde Yusuf Member 50,001 - 100,000 1090 14.34% 93,734,515 Very Revd Ayo Richards Member 100,001 - 200,000 688 8.35% 114,568.671 1. Directors’ interest in shares 200,001 - 500,000 727 9.66% 270,167,391 500,000 - 10,000,000 800 11.04% 1,661,120,886 The direct interest of directors in the issued share capital of Chams Plc as recorded in the register of directors shareholding 10,000,001 and above 55 0.71% 2,468,785,230 and/or as notified by the directors for the purposes of sections 8420 100% 4,696,060,000 275 and 276 of the Companies and Allied Matters Act and the listing requirements of the Nigerian Stock Exchange is as fol- Retirement of Directors lows: In accordance with the articles of association, Bishop A. D. Dec. 2011 Dec. 2010 Dec. 2009 Akinde and Alhaji Tunde Yusuf appointed Directors since the last Direct Units Direct Units Direct Units Annual General Meeting will retire at this Annual General Meet- ing and being eligible offer themselves for re-election. 1. Bishop A.D. Akinde 30,215,000 30,215,000 30,215,000 2. Engr. Akin Sawyerr 3,240,000 3,240,000 3,240,000 3. Alh. Tunde Yussuf 69,750,000 50,000,000 50,000,000 Statement of Directors’ 4. Alh. Idi Farouk 13,240,000 13,240,000 13,240,000 responsibilities for the financial statements for 5. Demola Aladekomo 563,990,229 563,990,229 549,550,229 the year ended 31 December 6. Olufemi Williams 32,000,000 32,000,000 32,000,000 2011 7. Very Rev. Ayo 1,087,000 1,087,000 0 Richards In accordance with the provisions of the Companies and Allied Matters Act of Nigeria, the Directors are responsible for the prep- DISCLOSURE OF SUBSTANTIAL aration of financial statements, which give a true and fair view of SHAREHOLDING (ABOVE 5%) AS the state of affairs of the Company and of the profit or loss for AT DECEMBER 2011 that year. In so doing, the Directors are required to ensure that: a. Proper accounting records are maintained which disclose a. Demola Aladekomo 563,990,229 12.02 with reasonable accuracy the financial position of the Com- b. SmartCity 462,068,759 9.8 pany and which ensures the financial statements comply with the requirements of the Companies and Allied Matters Act. b. Applicable accounting standards are followed. c. Suitable accounting policies are adopted and consistently applied. d. Judgments and estimates made are reasonable and pru- dent.
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e. The going concern basis is used, unless it is inappropriate to Fixed assets presume that the Company will continue in business. Information relating to changes in tangible assets is given in note f. Internal control procedures are instituted which, as far as is 13 of the financial statement. reasonably possible, safeguard the assets of the Company and prevent and detect fraud and other irregularities. Employment and employees
Donations and Charitable a. Employment of physically challenged persons The Company has a non-discriminatory policy on recruit- Gifts ment. Applications would always be welcomed from suit- The Company identifies with the aspirations of the community ably qualified disabled persons and are reviewed strictly on as well as the environment within which it operates and made qualification. The Company’s policy is that the highest quali- voluntary donations to various charitable organizations and oth- fied and most experienced persons are recruited for appro- er institutions in the country details of which are shown below. priate job levels irrespective of an applicant’s state of origin, No donation was made to any political organization. ethnicity, religion or physical condition. The Company during the year donated a total sum of b. Health safety and welfare of employees N27,936,465.11 to Health and safety regulations are in force within the Com- pany’s premises and employees are aware of existing Details of donations N regulations. The Company provides subsidies to all level of Donation of 10 Averatec Computer systems 1,975,255.10 employees for medical expenses, transportation, housing, to Lagos State University lunch etc. Donation of 10 Averatec computer systems 1,975,255.10 c. Employees involvement and training to Osun State University The Company is committed to keeping employees fully Donation of 1 computer system to The 197,525.10 informed as much as possible regarding the Company’s Apostolic Church Grammar Sch performance and progress and seeking their opinion where practicable on matters, which particularly affect them as Donation of 2 Averatec computer systems 395,041.02 employees. for educational causes Donation towards Community 200,000.00 Training is carried out at various levels through both in-house Development – Eze Epara (Port-Harcourt) and external courses. Incentive schemes designed to encourage the involvement of employees in the Company’s performance Donation to OAU Tech Foundation 300,000.00 are implemented whenever appropriate. Donations in support of ‘I See Lagos 15,000,000.00 Project’ Post Balance Sheet Events Donations in support of Kaduna project 5,000,000.00 There were no post balance sheet events which could have had Donation to Nigerian Computer Society 1,196,689.19 a material effect on the state of affairs of the Company as at 31 Various corporate gifts to clients 830,000.00 December 2011 or the profit for the year ended on that date, Donations in support of funeral services 500,000.00 which have not been adequately provided for or disclosed. (Staff) Donation to DATA Foundation 170,000.00 Compliance with the Code of Donations regarding Chams 26th 100,000.00 Corporate Governance Anniversary Chams Plc continuously strives to comply with global standards Donation to Nigerian Computer Society 46,689.19 of corporate governance. The Company has separated the posts of Managing Director and Chairman and the Chairman is not in- Total 27,936,465.11 volved in the day-to-day running of the Company. This is geared towards avoiding the concentration of too much power in a single individual. The Board as a whole is comprised of a number of sub-Com- mittees amongst which are Audit, Finance and Corporate Gov- ernance Committees. The Board is also comprised of high pro- file non-executive members serving in various capacities at the
16 Chams PLC 2011 Annual Report
sub-Committees mentioned above and is involved in setting the Board Meeting emoluments of the Managing Director and other Directors of the Company. The non-executive directors are appointed for a The Board and its Committees met as follows: fixed period and have to be re-elected by the shareholders at an Board/Committee Meeting No of AGM. The Company is committed to full disclosure and trans- meetings parency in providing information to all stakeholders because of Board of Directors 4 its belief that this is the most important driving force in any good governance process. Chams Audit Committee 3 Board Finance and Corporate Governance 4 Board Finance and Committee Corporate Governance Committee Attendance at Board meetings for the year ended The Committee acts on behalf of the Board on matters relating 31 December 2011 to Financial Management. It reviews the Budget and Audited Accounts and is responsible for providing useful advice to the Directors No of Attendance Company’s management team as and when required. Meetings Bishop A.D. Akinde 4 4 The members are as follows: Mr. Demola Aladekomo 4 4 Name Status Alhaji Idi Farouk 4 2 Very Rev Ayo Richards Chairman Mr. Tunde Yusuf 4 4 Alh. Tunde Yusuf Member Mr. Femi Williams 4 4 Mr. Demola Aladekomo Member Engr. Akin Sawyer 4 4 Idowu Logile Esq. Secretary Chief Bankole Moroti 4 4 Olayinka Ikiebe Member Christiana Olaniyan Member Auditors
Audit Committee BDO Professional Services have indicated their willingness to continue in office. In accordance with Section 357(2) of the This is established in accordance with part C of the Code of Companies and Allied Matters Act CAP C20 LFN, 2004, a resolu- Corporate Governance. It comprises dedicated individuals with tion will be proposed at the Annual General Meeting to autho- proven integrity that have a thorough understanding of the rise the Directors to fix their remuneration. Company’s business affairs including the associated risks and BY ORDER OF THE BOARD controls put in place to mitigate those risks. The Company Sec- retary is the secretary of the Committee and they meet regularly. Idowu Logile Esq. The members are as follows:
Mr. Onochie Emmanuel Chairman Alh. Tunde Yusuf Member Very Rev Ayo Richards Member Mr. Femi Williams Member Mr. Moses Igbrude Member Mr. Doyin Owolabi Member
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The Board of Directors
Bishop Prof Adebayo Dada Akinde Chairman Demola Aladekomo Managing Director
Alhaji Tunde Yusuf Director Alhaji Idi Farouk Director
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Very Reverend Ayo Richards Director
Olufemi Williams Deputy Managing Director
Engr Akin Sawyerr Director
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Chams Management Staff
Demola Aladekomo Olufemi Williams Managing Director Deputy Managing Director
Idowu Logile Olayinka Ikiebe Company Secretary Olushola Omotayo GM, Management Services GM, Public Sector
Olumayowa Olaniyan Group Head, Internal Funke Alomooluwa Audit and Risk Rajiv Sharma Management GM, ChamsCity GM, ChamsVarsity
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Chams PLC Subsidiary Heads
Femi Aderibigbe Goke Idris Managing Director, Managing Director, ChamsConsortium Limited Card Centre Nigeria Limited
Charles Uwagbale Gavin Young Managing Director, Managing Director, PayMaster ChamsSwitch
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Report of the Audit Committee
TO THE MEMBERS OF CHAMS PLC
In accordance with the provision of section 359 (6) of the Companies and Allied Matters Act Cap C20 Laws of the Federation of Nigeria 2004, we confirm that we have reviewed the audit plan and scope, and the Management Letter on the audit of the accounts of the Company and the responses to the said Letter.
In our opinion, the plan and scope of the audit for the year ended December 2011 were adequate. We have reviewd the Auditors’ findings and we are satisfied with the Management responses thereon.
We also confirm that the accounting and reporting policies of the Company are in accordance with legal requirements and ethical practices.
Mr Emmanuel Onochie
Chairman Audit Committee
27th March, 2011
Members of the Audit Committee yy Mr Emmanuel Onochie - Chairman yy Mr Tunde Yusuf - Member yy The Very Rev. Ayo Richards - Member yy Mr Moses Igbrude - Member yy Mr Doyin Owolabi - Member
22 Chams PLC 2011 Annual Report
Report of the Independent Auditors
TO THE MEMBERS OF CHAMS PLC the purpose of expressing an opinion on the effectiveness of the entity’s internal controls. An audit also includes evaluating the We have audited the accompanying financial statements of appropriateness of accounting policies used and the reasonable- Chams Plc (“the Company”) and its subsidiary Companies (to- ness of accounting estimates made by the directors, as well as gether “the group”), which comprise the balance sheets as at 31 evaluating the overall presentation of the financial statements. December 2011, the profit and loss accounts, the statement of cash flows, the value added statement for the year then ended We believe that the audit evidence we have obtained is sufficient and the statement of significant accounting policies, the notes and appropriate to provide a basis for our opinion. to the financial statements and the five year financial summary, as set out on pages 24 to 44. Emphasis of matter Without qualifying our opinion, we draw attention to note 4 Directors’ Responsibility to the financial statements concerning accumulated losses and for the Financial negative cash flows. Statements The directors are responsible for the preparation and fair pres- Opinion entation of these financial statements in accordance with the In our opinion, these financial statements give a true and fair view Statements of Accounting Standards issued by the Financial of the state of affairs of Chams Plc and its subsidiary Companies Reporting Council of Nigeria and with the requirements of the financial position as at 31 December 2011 and of its financial Companies and Allied Matters Act, CAP C20 LFN, 2004. This performance and its cash flows for the year then ended, in ac- responsibility includes: designing, implementing and maintain- cordance with Statements of Accounting Standards issued by the ing internal controls relevant to the preparation and fair pres- Financial Reporting Council of Nigeria and the requirements of the entation of the financial statements that are free from material Companies and Allied Matters Act, CAP C20 LFN, 2004. misstatement whether due to fraud or error, selecting and ap- plying appropriate accounting policies, and making accounting Report on other legal estimates that are reasonable in the circumstances. requirements Auditors’ responsibility The Companies and Allied Matters Act, CAP C20 LFN, 2004 re- quires that in carrying out our audit we consider and report to Our responsibility is to express an independent opinion on you on the following matters. We confirm that: consolidated financial statements based on our audit. We con- ducted our audit in accordance with International Standards on i. we have obtained all the information and explanations Auditing. Those standards require that we comply with ethical which to the best of our knowledge and belief were neces- requirements and plan and perform the audit to obtain reason- sary for the purpose of our audit able assurance as to whether the financial statements are free ii. in our opinion, proper books of account have been kept by from material misstatement. Chams Plc and its subsidiary companies and An audit involves performing procedures to obtain evidence iii. the entity’s balance sheet and profit and loss account are in about the amounts and disclosures in the financial statements. agreement with the books of account. The procedures selected depend on the auditors’ judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal controls relevant to the entity’s preparation and fair presentation Chartered Accountants of the consolidated financial statements in order to design audit Lagos, Nigeria procedures that are appropriate in the circumstances, but not for 30 March 2012 23 Hope springs eternal
Statement Of Significant Accounting Policies For The Year Ended 31 December 2011
The following are the significant accounting policies adopted by % per an- the Company and its subsidiaries in the preparation of their fi- num nancial statements: Land - Buildings 2 1. Basis of Accounting Plant and machinery 15 The consolidated financial statements have been prepared un- Motor vehicles 25 der the historical cost basis as modified by the inclusion of mo- Furniture and fittings 25 tor vehicles, furniture, fittings, building and equipment at profes- sional valuation. Equipment 25 IT Software 20 2. Basis of Consolidation The consolidated financial statements include the financial state- ments of Chams Plc and its subsidiaries: Card Centre Nigeria Lim- 6. Investments ited, ChamsSwitch Limited and Chams Access Limited, all made Long term investments: These are investments held for a period up to 31 December 2011. The group has a non-controlling exceeding one year. These include: investment in Paymaster Limited, which is accounted for as an yy investment in subsidiaries and unquoted companies. associate. Chams Consortium Ltd is not consolidated because it would have no material effect on the consolidated financial yy Long term investments are accounted for at cost less provi- statements as it is still in its pre-operation stage. sion for impairment in value. yy Investments in associates: This class of investment is treated 3. Turnover using equity method in accordance with International Ac- Turnover comprises the value of sales invoiced to third parties. counting Standards, IAS 28, on Accounting for Investments Contract revenue is recognised in phases throughout the life of in Associates. the project while related costs are matched against the phases. Additional cost incurred for a phase not recognised as revenue is yy Investment income is accounted for on an accrual basis. treated as work in progress. yy Investment projects: These represent the development costs of business lines which are amortised over a period 4. Fixed assets not exceeding 5 years. Fixed assets are stated at cost or valuation less accumulated de- preciation. The cost of assets includes purchase cost, installation 7. Stocks cost and other cost incurred to bring the assets to its present These comprise saleable goods held and services rendered by location and condition. the Company at the balance sheet date. 5. Depreciation of fixed These are valued at the lower of cost and net realisable value. assets Costs include purchase cost, conversion-cost (materials, labour and overhead) and other costs incurred in bringing the stock to Fixed assets are depreciated on a straight line basis at the fol- their present location and condition. Stocks are valued using the lowing annual rates which are expected to write off the cost or First-in-first-out(FIFO) method. valuation of the assets over their anticipated useful lives:
24 Chams PLC 2011 Annual Report
The amount of any write off of stock to net realisable value and 14. Rental Income all losses of stock are recognised as an expense in the period the Rental income represents income earned on the portion of the write down or loss occurs. Company owned building(s). The income is recognised on an accrual basis. 8. Debtors Debtors are stated after deduction of specific provision for 15. Borrowing costs any debt considered to be doubtful of recovery. Debts that are Borrowing costs associated with loans utilized in executing/ac- known to be bad are written off and specific provision is made quisition of qualifying capital work in progress are capitalized for debts that are considered doubtful of recovery. in accordance with the provisions of International Accounting Standard No. 23. They include interest charges, establishment 9. Taxation fees and other incidental fees directly related to the creation and Income tax and education tax are provided by applying the cur- arrangement of the facilities. rent statutory rate on the taxable profit and adjusted profit re- spectively 16. Retirement benefits The Company operates a defined contribution pension scheme 10. Deferred taxation for members of staff which is independent of its finances and is Deferred tax, which is principally from timing difference in the managed by Pension Fund Administrators. The scheme, which recognition of items for accounting and tax purposes, is calculat- is funded by contributions from employees and the Company ed using the liability method. This represents taxation at the cur- at 7.5% each of employees’ relevant emoluments is consistent rent rate of corporate income tax on the difference between the with the provisions of the Pension Reform Act, 2004. In addi- net book value of qualifying fixed assets and their corresponding tion, full provision is made in the financial statements for liabili- tax written down values. This is in accordance with Statement of ties at the balance sheet date in respect of employees’ terminal Accounting Standards, SAS 19, on Accounting for Taxes. gratuities based on current relevant emoluments in line with SAS 8. The associated costs are charged to the profit and loss ac- 11. Foreign Currencies count for the year. Transaction in foreign currencies are recorded in Naira at the rates of exchange ruling at the time they arise. Foreign currency 17. Cash and cash balances are converted to Naira at the applicable rates at the equivalents balance sheet date. For the purpose of the statement of cash flows, cash and cash All differences arising therefrom are dealt with in the profit and equivalents include cash in hand, cash balances with banks, net loss account. of overdrafts, all of which are available for use by the company unless otherwise stated. 12. Provisions Provisions are recognised when the Company has a present ob- 18. Intangible Assets ligation whether legal or constructive, as a result of a past event Expenditure on research activities is recognised as an expense in for which it is probable that an outflow of resources embodying the period in which it is incurred. An internally generated intan- economic benefits will be required to settle the obligation and a gible asset arising from development expenditure is recognised reliable estimate can be made of the amount of the obligation only if it is anticipated that the development cost incurred on a in accordance with the Statement of Accounting Standard, SAS clearly -defined project will be recovered through future com- 23, on Accounting for Provisions. mercial activities. Capitalised development costs are stated at cost less amortisation and impairment losses. Amortisation of 13. Segment Reporting development cost is charged to profit and loss on a straight-line The Company has three major business segments: Identity Man- basis over the estimated useful life of the underlying products agement & Solutions, Payments, Collections & Transactional Sys- of 10 years. tem and Digital Platform & ICT Training. Segment revenue and cost represent operating revenue and expenses respectively that are directly attributable to each business segment.
25 Hope springs eternal
At A Glance For The Year Ended 31 December 2011
PROFIT AND LOSS ACCOUNTS GROUP COMPANY 2011 2010 2011 2010 N’000 N’000 N’000 N’000 Turnover 1,777,737 1,484,915 1,309,435 791,756 Gross profit 686,786 520,233 525,020 293,446 Operating loss (972,162) (1,525,942) (379,252) (932,949) Loss on ordinary activities before (1,198,400) (1,801,323) (596,618) (1,205,986) taxation Provision for taxation (38,582) 424,710 (36,054) 438,992 Loss after taxation and extraordi- (1,236,982) (1,791,898) (632,672) (1,147,700) nary item
BALANCE SHEET FOR YEAR ENDED 31 DECEMBER 2011
GROUP COMPANY 2011 2010 2011 2010 N’000 N’000 N’000 N’000 Fixed Assets 2,998,652 3,855,407 1,869,315 2,345,090 Net current assets 658,282 1,092,275 3,149,631 3,038,595 Net worth 4,011,215 5,151,734 6,831,722 7,381,689 Share capital 2,348,030 2,348,030 2,348,030 2,348,030
26 Chams PLC 2011 Annual Report
Consolidated Profit And Loss Account For The Year Ended 31 December 2011
GROUP COMPANY 2011 2010 2011 2010 Notes N’000 N’000 N’000 N’000
Turnover 5 1,777,737 1,484,915 1,309,435 791,756 Cost of sales (1,090,951) (964,682) (784,415) (498,310)
Gross profit 686,786 520,233 525,020 293,446 Other operating income 8 478,234 259,151 392,983 276,810 Administrative expenses (2,137,182) (2,305,326) (1,297,255) (1,503,205)
Operating loss (972,162) (1,525,942) (379,252) (932,949) Interest receivable and similar income 2 207 2 2 Interest payable and similar charges (226,240) (275,588) (217,368) (273,039)
Loss on ordinary activities before taxation 9 (1,198,400) (1,801,323) (596,618) (1,205,986)
Exceptional item 10 - (5,616) - (380,706)
Taxation 12 (38,582) 424,710 (36,054) 438,992
Loss after taxation before extraordinary (1,236,982) (1,382,229) (632,672) (1,147,700) item
Extraordinary item 11 - (409,669) - -
Loss after taxation and extraordinary item transferred to revenue reserve (1,236,982) (1,791,898) (632,672) (1,147,700)
Attributable to: Owners of the company 32 (1,101,562) (1,609,820) (632,672) (1,147,700) Non-controlling interests (135,420) (182,078) - -
Loss per share (Kobo) - Basic 37 (26) (29) (13) (24)
The accounting policies on pages 24 to 25 and the explanatory notes on pages 30 to 42 form part of these financial statements.
Auditors’ Report on page 23.
27 Hope springs eternal
Consolidated Balance Sheet As At 31 December 2011 GROUP COMPANY
2011 2010 2011 2010 Non current assets Notes N’000 N’000 N’000 N’000 Property, plant and equipment 13 2,998,652 3,855,407 1,869,315 2,345,090 Intangible assets 14 160,231 - 115,231 - Long term investments 15 (c) 126,709 126,709 1,630,204 1,894,907 Investment projects 18 93,157 103,160 93,157 103,160 3,378,749 4,085,276 3,707,907 4,343,157 Current assets Stocks 20 1,079,779 1,309,947 177,580 271,115 Trade debtors 21 (a) 1,515,716 1,539,644 1,111,686 1,102,518 Prepayments and other debtors 22 (b) 1,440,280 1,308,928 2,540,384 2,592,583 Due from related companies 23 230,769 223,058 1,847,060 1,791,337 Cash and bank balances 35 58,075 25,678 55,910 7,173 4,324,619 4,407,255 5,732,620 5,764,726 Current liabilities Bank overdrafts 35 933,739 1,329,471 896,042 1,268,845 Trade creditors 837,855 434,936 459,023 560,197 Accruals and other creditors 25 (a) 1,500,854 1,121,537 858,576 574,211 Deposit for shares 29 - 10,030 - 9,030 Due to related companies 24 755 12,319 - - Short term loan 43 - 50,000 - - Taxation 12 (a) 393,134 356,687 369,348 313,848 3,666,337 3,314,980 2,582,989 2,726,131 Net current assets 658,282 1,092,275 3,149,631 3,038,595 Total assets less current liabilities 4,037,031 5,177,551 6,857,538 7,381,752 Non current liability Deferred taxation 27 (25,816) (25,817) (25,816) (63) 4,011,215 5,151,734 6,831,722 7,381,689 Capital and reserve Share capital 28 2,348,030 2,348,030 2,348,030 2,348,030 Share premium 30 5,458,750 5,458,750 5,458,750 5,458,750 Fixed assets revaluation reserve 31 1,222,297 1,878,283 1,222,296 1,063,702 Capital reserve 19 (329,252) (253,090) - - Goodwill - - (52,823) - Revenue reserve 32 (5,017,368) (4,548,443) (2,144,531) (1,488,793) Equity attributable to owners of the Company 3,682,457 4,883,530 6,831,722 7,381,689 Non-controlling interests 33 328,758 268,204 - - Total equity 4,011,215 5,151,734 6,831,722 7,381,689 The financial statements on pages 24 to 44 were approved by the Board of Directors on 27th March 2012 and signed on its behalf by: ______) ) Directors ______) The accounting policies on pages 24 to 25 and the explanatory notes on pages 30 to 42 form part of these financial statements. Auditors’ Report on page 23 28 Chams PLC 2011 Annual Report
Consolidated Statement of Cash Flows For The Year Ended 31 December 2011 GROUP COMPANY 2011 2010 2011 2010 Notes N’000 N’000 N’000 N’000 Cash flows from operating activities Cash received from customers 1,838,834 893,062 1,348,819 1,083,727 Cash paid to suppliers and employees (1,608,400) (1,456,789) (975,182) (1,437,466) Value added tax (net) (82,060) (21,226) (82,060) (29,425)
148,374 (584,953) 291,577 (383,164) Income tax paid 12 (a) (2,135) (17,269) - (10,214)
Net cash provided by operating activities 34 146,239 (602,222) 291,577 (393,378)
Cash flows from investing activities Proceeds from sale of fixed assets 711,006 146,341 711,006 1,300 Purchase of fixed assets 13 (26,597) (167,018) (239,317) (94,475) Purchase of intangible assets (108,845) - (115,231) - Purchase of investment (17,466) - (17,466) - Interest received 2 207 2 2 Cash received from sale of investments 17 - 125,000 - 125,000
Net cash provided by investing activities 558,100 104,530 338,994 31,827
Cash flows from financing activities Long term loan 43 - 50,000 - - Term loan repayment (50,000) - - - Interest paid (226,210) (275,588) (209,031) (273,039)
Net cash provided by financing activities (276,210) (225,588) (209,031) (273,039)
Net increase/(decrease) in cash and cash 428,129 (723,280) 421,540 (634,590) equivalents Cash and cash equivalents at the beginning of the year (1,303,793) (580,513) (1,261,672) (627,082)
Cash and cash equivalents at the end of the 35 (875,664) (1,303,793) (840,132) (1,261,672) year
The accounting policies on pages 24 to 25 and the explanatory notes on pages 30 to 42 form part of these financial statements. Auditors’ Report on page 23
29 Hope springs eternal
Notes to the Financial Statements For The Year Ended 31 December 2011
1 The Company 2 Legal Form The Company was incorporated in Nigeria as a private limited liability company on 10 September 1985 and commenced operations on 10 October 1985. It became a public limited company on 4 September 2008 and was listed on the floor of the Nigerian Stock Exchange on 8 September 2008. 3 Principal Activities The Company and its subsidiaries offer complete end to end solution to small and large projects in the areas of identity management, payments, collection and transactional systems, as well as providing digital platform and ICT trainings. 4 Going concern considerations The Company and its subsidiaries have an accumulated loss of N5.02 billion as at 31 December 2011 (2010: N4.55 billion), and negative cash flows of N0.9 billion for the year then ended (2010: N1.3 bil- lion). The financial statements have, however, been prepared on a going concern basis as subsequent to the balance sheet date, the Company and its subsidiaries have won contracts that are expected to generate positive cash flows and profitability.
5 Turnover GROUP COMPANY 2011 2010 2011 2010 N’000 N’000 N’000 N’000
Identity Management & Solutions 700,316 28,053 700,316 237,667 Payments, Collections & Transactional 484,257 1,056,195 15,955 21,492 System Digital Platform & ICT Training 593,164 400,667 593,164 532,597 1,777,737 1,484,915 1,309,435 791,756 6(a) Segment reporting The Company has three main business segments: - Identity Management & Solutions - Payments, Collections & Transactional System - Digital Platform & ICT Training Revenue and cost reported are directly related to the segment.
(b) Identity Management & Solutions Revenue 700,316 28,053 700,316 237,667 Cost of sales (520,675) (19,661) (520,675) (165,994) Gross profit 179,641 8,392 179,641 71,673 (c) Payments, Collections & Trans- actional System Revenue 484,257 1,056,195 15,955 21,492 Cost of sales (327,227) (686,736) (20,691) (14,786) Gross profit / (loss) 157,030 369,459 (4,736) 6,706
30 Chams PLC 2011 Annual Report
Notes to the Financial Statements For The Year Ended 31 December 2011
GROUP COMPANY 2011 2010 2011 2010 N’000 N’000 N’000 N’000
(d) Digital Platform & ICT training Revenue 593,164 400,667 593,164 532,597 Cost of sales (231,553) (258,285) (317,530) (317,530) Gross profit 361,611 142,382 275,634 215,067
Payments, Collections & Identity Manage- Transactional Digital Platform & ment & Solutions System ICT Training Total 7 Segment balance sheet N’000 N’000 N’000 N’000 Group Fixed assets (Net book value) 2,099,056 449,798 449,798 2,998,652 Long term investments 100,000 26,709 - 126,709 Intangible assets 128,185 16,023 16,023 160,231 Investment projects 17,466 67,482 8,209 93,157 Deferred taxation (18,071) (3,872) (3,872) (25,815) Current assets 2,133,904 1,095,357 1,095,357 4,324,618 Current liabilities (1,750,355) (957,991) (957,991) (3,666,337) Net assets 2,710,185 693,506 607,524 4,011,215 Company Fixed assets (Net book value) 990,737 37,386 841,192 1,869,315 Long term investments 864,008 32,604 733,592 1,630,204 Investment projects 49,373 1,863 41,921 93,157 Deferred taxation (13,683) (516) (11,617) (25,816) Current assets 3,038,289 114,652 2,579,679 5,732,620 Current liabilities (1,381,215) (51,139) (1,150,635) (2,582,989) Intangible assets 61,072 2,305 51,854 115,231 Net assets 3,608,581 137,155 3,085,986 6,831,722
GROUP COMPANY 2011 2010 2011 2010 8 Other operating income N’000 N’000 N’000 N’000 Fee income 85,251 24,945 - 21,492 Rental income 47,652 8,446 47,652 29,558 Miscellaneous income 2,966 - 2,966 - Profit from disposal of investments - 225,000 - 225,000 Profit from disposal of assets 342,365 760 342,365 760 478,234 259,151 392,983 276,810
31 Hope springs eternal
Notes to the Financial Statements For The Year Ended 31 December 2011
GROUP COMPANY 2011 2010 2011 2010 N’000 N’000 N’000 N’000
9 Loss on ordinary activities before taxation and extraordi- nary item This is stated after charging/(crediting): Directors’ emoluments 7,799 24,236 - 8,592 Auditors’ remuneration 15,000 21,020 7,000 15,000 Depreciation 487,004 695,882 340,750 334,717 Exchange loss - 159 - 159 Profit on disposal of assets (342,365) (760) (342,365) (760) 10 Exceptional item This represents provision for diminution in value of - 5,616 - 380,706 investments (Note 16) 11 Extraordinary item This represents profit from disposal of DataCentre by - - - - Chams Plc to Chams Access Limited. This represents amortisation of the pre-operational cost - 409,669 - - of Chams Switch Limited. 12(a) Taxation Profit and loss account Income tax 386,582 59,343 36,054 36,762 Education tax - - - - Capital gains tax - 63 - 63 Deferred tax (Note 27) - (484,116) - (475,817) Per profit and loss account 386,582 (424,710) 36,054 (438,992) Balance sheet Balance as at 1 January 356,687 314,613 313,848 287,300 Addition from Supercard liability taken over - - 19,446 - Charge/(Writeback) for the year 38,582 (424,710) 36,054 (438,992) Deferred tax (Note 27) - 484,053 - 475,754 395,269 373,956 369,348 324,062 Payment during the year (2,135) (17,269) - (10,214) Per balance sheet 393,134 356,687 369,348 313,848
(b) The charge for taxation in these financial statements is based on the provisions of the Companies Income Tax Act, CAP C21, LFN 2004 (as amended). The charge for education tax is based on the provisions of the Education Tax Act, CAP E4, LFN 2004.
32 Chams PLC 2011 Annual Report
Notes to the Financial Statements For The Year Ended 31 December 2011
13 Property, plant and equipment (a) Group Land Buildings Plant and Motor Equip- IT/Soft- Furniture Total machinery vehicles ment ware and fit- tings Cost/valuation N’000 N’000 N’000 N’000 N’000 N’000 N’000 N’000
At 1 January 402,361 1,643,205 1,116,510 200,846 1,180,635 508,113 506,675 5,558,345 Additions 11,400 - - - 12,334 1,448 1,415 26,597 Reclassification - 1,407 - - - - (1,407) - Assets written off (6,300) - - (11,100) (690) - - (18,090) Disposals - (386,292) (4,900) - - - - (391,192) Transfer to intangible assets - - - - - (120,640) - (120,640) At 31 December 407,461 1,258,320 1,111,610 189,746 1,192,279 388,921 506,683 5,055,020 Depreciation At 1 January - 116,758 450,666 113,811 611,416 227,910 182,377 1,702,938 Charge for the year - 36,974 20,035 45,355 230,578 81,042 73,020 487,004 Asset written off - - - (6,941) (517) - - (7,458) On adjustment - - - - - (83,813) - (83,813) Impairment losses - - 24,984 - - - - 24,984 On disposal - (18,250) (4,900) - - - - (23,150) Transfer to intangible assets - - - - - (44,137) - (44,137) At 31 December - 135,482 490,785 152,225 841,477 181,002 255,397 2,056,368 Net book value At 31 December 2011 407,461 1,122,838 620,825 37,521 350,802 207,919 251,286 2,998,652 At 31 December 2010 402,361 1,526,447 665,844 87,035 569,219 280,203 324,298 3,855,407
Leasehold land with a book value of N33.784 million was valued at N210 million by Messrs Jide Taiwo & Co (Estate Surveyors & Valuers), independent valuers not connected with the Company, on the basis of open market value on 16 June 2009. Also Datacenter with book value N244 million was valued at N900 million by Messrs Jide Taiwo & Co (Estate Surveyors & Valuers) on 31 December 2009.
33 Hope springs eternal
Notes to the Financial Statements For The Year Ended 31 December 2011
(b) Company Furniture Plant and Motor IT/Soft- and fit- Land Buildings machinery vehicles Equipment ware tings Total Cost/valuation N’000 N’000 N’000 N’000 N’000 N’000 N’000 N’000
At 1 January 135,924 1,643,206 89,337 113,368 917,343 47,398 240,888 3,187,464 Additions/transfer 221,400 - - 3,430 12,282 681 1,524 239,317 Reclassification - 1,407 - - - - (1,407) - Adjustment (6,300) ------(6,300) Disposals (386,292) (4,900) - - - - (391,192) At 31 December 351,024 1,258,321 84,437 116,798 929,625 48,079 241,005 3,029,289 Depreciation At 1 January - 116,758 32,598 70,125 502,723 789 119,381 842,374 Charge for the year - 36,974 12,373 26,664 198,085 9,480 57,174 340,750 On reclassification ------On disposal - (18,250) (4,900) - - - - (23,150) At 31 December - 135,482 40,071 96,789 700,808 10,269 176,555 1,159,974 Net book value At 31 December 2011 351,024 1,122,839 44,366 20,009 228,817 37,810 64,450 1,869,315 At 31 December 2010 135,924 1,526,448 56,739 43,243 414,620 46,609 121,507 2,345,090
The Company’s building located at No. 8 Louis Solomon Close was revalued and reported on 10 December 2007 by Messrs Jide Taiwo & Co (Estate Surveyors and Valuers), independent valuers not connected with the Company, on the basis of open market value. This was adjusted in the financial statements.
14 Intangible assets Group Company Cost/valuation N’000 N’000 At 1 January - - Additions 150,000 - Transfers of intangible assests 169,485 169,485 At 31 December 319,485 169,485
Amortisation At 1 January - - Charge for the year 25,118 10,118 Transfer of amortisation Charge 44,136 44,136 Prior year adjustment 90,000 - At 31 December 159,254 54,254 Net book value At 31 December 2011 160,231 115,231 At 31 December 2010 - -
Intangible assets represent the value of NCC licence acquired from SmartCity by Card Center Nigeria Limited and Software Development Cost acquired from Supercard Limited by Chams Plc recognised in the book during the year.
34 Chams PLC 2011 Annual Report
Notes to the Financial Statements For The Year Ended 31 December 2011
GROUP COMPANY
Equity holding 2011 2010 2011 2010 % N’000 N’000 N’000 N’000 15 Long-term investments (a) Investment in subsidiaries Card Centre Nigeria Limited 99.07 - - 1,189,112 1,189,112 Supercard Nigeria Limited 81.25 - - - 264,702 Chams Access Limited 68.37 - - 810,600 810,600 Chams Mobile Limited 100.00 26,709 26,709 26,709 26,709 Chams Switch Limited 84.34 - - 598,951 598,952 26,709 26,709 2,625,372 2,890,075
Chams Mobile was not consolidated because it is still in its project form, and is not significant. (b) Investment in associate Paymaster Nigeria Limited 263,471 263,471 263,471 263,471 (c) Investment in unquoted entities Unitec Nigeria Limited - - 1,500 1,500 1,500 Joint Komputer Kompany Limited 100,000 100,000 100,000 100,000 100,000 101,500 101,500 101,500 Total investment 390,180 391,680 2,990,343 3,255,046 Provision for diminution in value - of Unitec Nigeria Limited - (1,500) (1,500) (1,500) - of subsidiaries and associate (Note 15d) (263,471) (263,471) (1,358,639) (1,358,639) 126,709 126,709 1,630,204 1,894,907 (d) Provision for diminution in value of subsidiaries and associate Card Centre Nigeria Limited - - 981,798 981,798 Chams Access Limited - - 113,370 113,370 Paymaster Nigeria Limited 263,471 263,471 263,471 263,471 263,471 263,471 1,358,639 1,358,639 16 Movement in investment At 1 January 126,709 132,325 1,894,907 2,653,263 Additions during the year - - - - Disposal during the year - - - (375,000) Adjustments - - - (2,650) Movement in provision for diminution - (5,616) (264,703) (380,706) At 31 December 126,709 126,709 1,630,204 1,894,907
The Company bought over the shares of the non-controlling interest in Supercard Nigeria Limited to maintain a 100% controlling interest. It also subsequently merged the operations of the Company by taking over its assets and liabilities. The goodwill arising on acquisition has been included in these financial statements.
35 Hope springs eternal
Notes to the Financial Statements For The Year Ended 31 December 2011
GROUP COMPANY 2011 2010 2011 2010 17 Disposal of investment N’000 N’000 N’000 N’000 Amount realised from disposal - 600,000 - 600,000 Cost of investment - (475,000) - (475,000) Profit from sale of investment - 125,000 - 125,000
On 31 March 2010, the Board of Directors approved a sale of 750 miilion units (31.63%) of Chams Access Limited ordinary shares of 50k each at 80k each to Computermart Nigeria Limited. As at the year end, N475 million (Note 22 b) of this consideration was unpaid.
GROUP COMPANY 2011 2010 2011 2010 N’000 N’000 N’000 N’000 18 Investment projects Chams Varsity 8,209 15,283 8,209 15,283 Chams.Net 61,192 81,587 61,192 81,587 Chams Wallet 6,290 6,290 6,290 6,290 NIMC 17,466 - 17,466 - 93,157 103,160 93,157 103,160 Investment projects represent expenses incurred on behalf of Chams Varsity, Chams.Net and Chams Wallet divi- sions, and will be converted to shares when these divisions become subsidiaries.
GROUP COMPANY 2011 2010 2011 2010 19 Capital reserve N’000 N’000 N’000 N’000 Opening balance 253,090 (349,859) - - Goodwill on consolidation 76,162 602,949 - - Closing balance 329,252 253,090 - - 20 Stocks Terminals and consumables 1,069,779 1,232,299 167,580 193,467 Work in progress 10,000 77,648 10,000 77,648 1,079,779 1,309,947 177,580 271,115 21(a) Trade debtors Trade debtors 1,862,929 1,654,717 1,374,166 1,217,591 Provision for doubtful debts (Note 21(b)) (347,213) (115,073) (262,480) (115,073) 1,515,716 1,539,644 1,111,686 1,102,518 (b) Provision for doubtful debts At 1 January 115,073 45,482 115,073 45,482 Supercard debtors provision 24,304 - 24,304 (14,825) Bad debt recovered (2,484) (14,825) (2,484) - Provision for the year 210,320 84,416 125,587 84,416 At 31 December 347,213 115,073 262,480 115,073
36 Chams PLC 2011 Annual Report
Notes to the Financial Statements For The Year Ended 31 December 2011
GROUP COMPANY 2011 2010 2011 2010 N’000 N’000 N’000 N’000 22(a) Prepayments and other debtors Prepayments 166,970 399,968 164,652 358,788 Other debtors (Note 22(b)) 1,066,478 803,049 2,168,900 2,127,884 Director’s current account 206,832 105,911 206,832 105,911 1,440,280 1,308,928 2,540,384 2,592,583 (b) Other debtors Term loan - Chams Access (Note 22(c)) - - 532,819 532,819 Deposit for shares - - 1,000,000 1,000,000 Computermart Nig. Limited - sale of investment 475,000 475,000 475,000 475,000 Service charges - 92,091 - 12,289 Calls in arrears 20,621 17,670 20,621 17,670 Withholding tax 78,318 30,856 37,825 30,856 Cash advance 1,434 - - - Deposit for petrocard 207 - 207 - PPM-Wiliams 67 - 67 - Intermac Consulting 4,812 - 4,812 - Staff debtors 166,135 244,607 154,156 116,425 Universal service provision fund 16,109 - - - Deposit for assets 3,150 - 3,150 - Input VAT 20,245 - - - Due from related Company 319,203 - - - Other debit balance 16,231 - 16,231 - Miscellaneous 22,742 - 1,808 - Provision for doubtful debts - staff debtors (57,175) (57,175) (57,175) (57,175) Call in arrears written off (20,621) - (20,621) - 1,066,478 803,049 2,168,900 2,127,884 (c) Term loan represents loan given to Chams Access Limited at an interest-free rate effective from 31st December 2009.
GROUP COMPANY 2011 2010 2011 2010 N’000 N’000 N’000 N’000 23 Due from related companies Paymaster Nigeria Limited 230,769 216,768 230,769 216,768 Card Centre Nigeria Limited - - 1,428,747 1,390,082 Supercard Nigeria Limited - - 2,967 88,375 Chams Switch Limited - - 130,892 93,918 Chams Mobile Limited - 6,068 25,166 6,068 Chams Access Limited - - 23,152 (3,874) Chams Consortium Limited - - 367 - Smart City Limited - 222 5,000 - 230,769 223,058 1,847,060 1,791,337 24 Due to related companies Paymaster Nigeria Limited 755 6,819 - - Smart City Limited - 5,500 - - 755 12,319 - -
37 Hope springs eternal
Notes to the Financial Statements For The Year Ended 31 December 2011
GROUP COMPANY 2011 2010 2011 2010 N’000 N’000 N’000 N’000 25(a) Accruals and other creditors Rent received in advance - 3,168 - 3,168 VAT payable 186,099 92,385 88,728 9,585 Staff pension (Note 25(b)) 67,831 81,804 20,313 25,239 Withholding tax 61,257 57,813 61,257 56,786 Accrued expenses 622,408 544,847 291,126 193,178 Directors’ current account 56,197 6,897 - - Sundry creditors - - 56,973 - Due to other related Company 546 - - - Other credit balances 450,793 334,599 284,455 286,255 Advances 55,553 - 55,554 - Information Technology Development Levy 170 24 170 - 1,500,854 1,121,537 858,576 574,211 (b) Staff pension At 1 January 60,630 40,538 25,239 11,827 Transfer from Supercard 8,896 - 8,896 - Deductions in the year 30,528 50,303 18,401 22,719 Remittance (32,223) (9,037) (32,223) (9,307) At 31 December 67,831 81,804 20,313 25,239
GROUP COMPANY 2011 2010 2011 2010 N’000 N’000 N’000 N’000 26 Dividend payable Balance at 1 January - - - - Dividend declared (Note 32) ------Payment during the year - - - - Balance at 31 December - - - - 27 Deferred taxation Balance at 1 January 192,818 (317,052) 192,818 (282,999) Deferred tax from Supercard taken over (8,131) - (8,131) - Writeback / (charge) for the year (Note 12) - 484,116 - 475,817 Balance at 31 December 184,687 167,064 184,687 192,818 Capital gains tax Balance at 1 January (192,881) (192,818) (192,881) (192,818) Charge for the year (Note 15) (17,622) (63) (17,622) (63) Balance at 31 December (210,503) (192,881) (210,503) (192,881) Per balance sheet (25,816) (25,817) (25,816) (63) The group tax computation resulted in a deferred tax asset of N 757.7 million (2010: N495.4 million).This has not been adjusted for in these consolidated financial statements as the asset may not be recoverable in the foreseeable future.
38 Chams PLC 2011 Annual Report
Notes to the Financial Statements For The Year Ended 31 December 2011
GROUP COMPANY 2011 2010 2011 2010 28 SHARE CAPITAL N’000 N’000 N’000 N’000 Authorised: 10 billion ordinary shares of 50 kobo each 5,000,000 5,000,000 5,000,000 5,000,000 Issued and fully paid: 4,696,060,000 ordinary shares of 50 kobo each 2,348,030 2,348,030 2,348,030 2,348,030
Balance at 1 January 2,348,030 2,348,030 2,348,030 2,348,030 Balance at 31 December 2,348,030 2,348,030 2,348,030 2,348,030
29 Deposit for shares Balance at 31 December - 10,030 - 9,030 30 Share premium Balance at 1 January 5,458,750 5,458,750 5,458,750 5,458,750 Share issue expenses - - - - Adjustment from share capital - - - - Balance at 31 December 5,458,750 5,458,750 5,458,750 5,458,750 31 Fixed assets revaluation reserve Balance at 1 January 1,878,283 1,878,283 1,063,702 1,063,702 Prior year adjustment (655,986) - - - Addition - - - - Write back - - 158,594 - Supercard asset revaluation reserve acquired - - - - Balance at 31 December 1,222,297 1,878,283 1,222,296 1,063,702 32 Revenue reserve Balance at 1 January (4,548,443) (2,716,025) (1,488,793) (118,495) Prior year adjustments 632,637 - - - Cost of sales understated - (222,598) - (222,598) Opening balance as reinstated (3,915,806) (2,938,623) (1,488,793) (341,093) Post acquisition reserve of Supercard - - (23,066) - Dividend declared - - - - Loss for the year (1,101,562) (1,609,820) (632,372) (1,147,700) Balance at 31 December (5,017,368) (4,548,443) (2,144,531) (1,488,793)
39 Hope springs eternal
Notes to the Financial Statements For The Year Ended 31 December 2011
GROUP COMPANY 2011 2010 2011 2010 N’000 N’000 N’000 N’000 33 Non-controlling interests Share capital 601,595 435,358 - - Share premium 24,710 14,924 - - Revenue reserves (297,547) (182,078) - - At 31 December 328,758 268,204 - - 34 Reconciliation of net loss to net cash provided by operating activities Loss after taxation (1,236,982) (1,791,898) (632,678) (1,147,700) Adjustment to reconcile net loss to net cash provided/(consumed) by operating activities: Profit on sale of investments - (225,000) (342,365) (225,000) (Profit) / Loss on sale of fixed assets (342,365) 1,953 - (760) Interest payable 226,210 275,588 209,031 273,039 Non-controlling interests 135,420 182,078 - - Depreciation 487,004 695,882 340,750 334,717 Amortisation 52,587 37,587 Interest received (2) (207) (2) (2) Provision for impairment losses 24,984 Adjustment in investment - - - 2,650 Provision for diminution in value of investments - 5,616 374,748 380,706 Assets written off 9,632 234,462 4,386 - Acquisition of subsidiaries - - (264,702) - Call in arrears written off 20,621 - 20,621 - Changes in assets and liabilities: Decrease in investment projects - 18,982 10,003 18,982 (Increase)/decrease in intangible (108,845) - 115,231 - Decrease in stocks 230,168 (333,990) 93,535 62,834 Decrease/(increase) in trade debtors 23,928 (250,244) (9,168) (196,690) (Increase)/decrease in other debtors (131,352) 1,194,840 52,199 391,140 Increase in amount due from related companies (7,711) (2,094) (55,723) (178,363) Increase /(decrease) in trade creditors 402,919 236,678 (101,174) 306,533 Increase /(decrease) in other creditors and accruals 379,317 641,787 284,365 256,340 Decrease in deposit for shares 9,030 - 9,030 (475,754) Decrease in deferred tax liability - (484,053) 25,753 - Goodwill/Capital reserve on consolidation (76,162) (602,949) - - Increase /(decrease) in tax payable 36,447 42,074 55,500 26,548 Increase /(decrease) in non-controlling interests 60,554 19,557 - - Net movement in subsidiary acquired - - 82,704 - Prior year adjustments (19,539) (222,598) - (222,598) Increase in amount due to related companies (11,564) (238,686) - - Total adjustments 1,383,221 1,189,676 924,249 754,322 Net cash provided by operating activities 146,239 (602,222) 291,577 (393,378)
40 Chams PLC 2011 Annual Report
Notes to the Financial Statements For The Year Ended 31 December 2011
GROUP COMPANY 2011 2010 2011 2010 N’000 N’000 N’000 N’000 35 Cash and cash equivalents Bank and cash balances 58,075 25,678 55,910 7,173 Bank overdrafts (933,739) (1,329,471) (896,042) (1,268,845) (875,664) (1,303,793) (840,132) (1,261,672) 36(a) Information regarding Directors and Employees
(b) Analysis of the Company’s average weekly number of employees were: Management staff 26 30 15 15 Senior staff 100 130 64 72 Junior staff 54 79 14 16 180 239 93 103
N’000 N’000 N’000 N’000 Staff costs relating to the above were: Wages and salaries 482,662 636,332 255,819 359,125 Pension contribution 30,528 50,303 18,401 22,719 513,190 686,635 274,220 381,844 (c) Emoluments of Directors of the company were - Fee: Chairman 3,110 3,110 1,350 1,350 Other Directors 21,126 21,126 7,242 7,242 24,236 24,236 8,592 8,592 (d) Fees (excluding pensions contributions) include amounts paid to The Chairman 1,460 1,460 1,350 1,350 The highest paid Director 1,460 1,460 1,350 1,350
The table below shows the number of Directors and employees of the Group and Company whose emoluments during the year (excluding pension contributions) were within the bands stated.
Emoluments Employees GROUP COMPANY N 2011 2010 2011 2010
Up to - 300,000 - 1 - - 300,001 - 500,000 24 31 - 4 500,001 - 700,000 20 29 4 9 700,001 - 900,000 15 19 10 6 900,001 - 1,100,000 17 24 1 6 1,100,001 and above 104 135 78 78
41 Hope springs eternal
Notes to the Financial Statements For The Year Ended 31 December 2011
37 (Losses)/ earnings per share
The calculation of (losses) / earnings per share is based on the (loss) / profit after taxation and the weighted average number of ordinary shares issued and fully paid during the financial year.
38 Guarantees and other financial commitments
Capital commitments
There were no capital commitments authorised by the Directors as at 31 December, 2011 (2010 - Nil).
Contingent liabilities
The Directors are of the opinion that there were no contingent liabilities in respect of actions against the company, ac- cordingly no provision has been made in these consolidated financial statements as at 31 December 2011 (2010 - Nil).
39 Major suppliers
The Company’s major supplier is Data Card Corporation.
40 Related party transactions
Related party transactions arose from transfer of fixed assets, rents due and payments to suppliers. As at 31 December 2011 balances due from and to related Companies were as stated in Notes 23 and 24 to the consolidated financial statements respectively.
41 Comparative figures
Certain comparative figures have been restated in order to provide more meaningful comparison.
42 Subsequent events review
In the opinion of the Directors, there were no significant post balance sheet events that could have material effect on the state of affairs of the Company and its subsidiaries as at 31 December 2011 and on the loss for the year ended on that date, which have not been adequately provided for or disclosed in these consolidated financial statements.
43 Short term loan
This is a 90 day contract finance facility of N50 million obtained from WEMA Bank Plc for the execution of a unique biometrics identity management system for National Open University of Nigeria. It carries an interest rate of 19% per annum effective from the drawdown date of 12 November 2010.
42 Chams PLC 2011 Annual Report
Consolidated Statement of Value Added For The Year Ended 31 December 2011
GROUP COMPANY 2011 2010 2011 2010 N’000 % N’000 % N’000 % N’000 % Sales of products and services 1,777,737 1,484,915 1,309,435 791,756 Other income 478,234 259,151 392,982 276,810 2,255,971 1,744,066 1,702,417 1,068,566 Bought in materials and services:- - Imported (512,426) (393,580) (299,262) (347,246) - Local (1,715,511) (1,908,989) (1,167,435) (1,318,412) Value added /(eroded) 28,034 100 (558,503) 100 235,720 100 (597,092) 100 Applied as follows: To pay employees: Employees’ wages, salaries and other 513,190 1,831 686,635 123 274,220 116 381,844 64 benefits To pay Government: Income tax 38,582 138 59,343 11 36,054 15 36,762 6 Capital gains tax - - 63 - - - 63 - To pay providers of capital: Interest payable and similar charges 226,240 807 275,588 49 217,368 92 273,039 46 To provide for replacement of assets and growth: - Depreciation 487,004 1,736 695,882 125 340,750 145 334,717 56 - Deferred tax - - (484,116) (87) - - (475,817) (80) - Profit and loss account (1,236,982) (4,412) (1,791,898) (321) (632,672) (268) (1,147,700) (192) 28,034 100 (558,503) (100) 235,720 100 (597,092) (100)
Value added represents the additional wealth which the Company and its subsidiaries have been able to create by their own and their employees’ efforts. This statement shows the allocation of that wealth among all stakeholders and amount retained for the future crea- tion of more wealth.
43 Hope springs eternal
Consolidated Financial Summary 31 December
GROUP COMPANY 2011 2010 2009 2008 2011 2010 2009 2008 2007 N’000 N’000 N’000 N’000 N’000 N’000 N’000 N’000 N’000 ASSETS/(LIABILITIES) Fixed assets 2,998,652 3,855,407 4,767,027 3,725,250 1,869,315 2,345,090 2,585,872 3,176,574 1,850,363 Intangible assets 160,231 - - - 115,231 - - - - Long term investments 126,709 126,709 132,325 1,566,959 1,630,204 1,894,907 2,653,263 3,130,174 568,509 Investment projects 93,157 103,160 122,142 - 93,157 103,160 122,142 - - Goodwill - - - 587,950 - - - - - Net current assets 658,282 1,092,275 2,680,919 3,743,855 3,139,601 3,038,595 3,866,527 4,083,893 12,419 Provision for liabilities and charges (25,816) (25,817) (509,870) (516,698) (25,816) (63) (475,817) (511,359) (247,078) 4,011,215 5,151,734 7,192,543 9,107,316 6,821,692 7,381,689 8,751,987 9,879,282 2,184,213
CAPITAL AND RESERVES Share capital 2,348,030 2,348,030 2,348,030 2,348,530 2,348,030 2,348,030 2,348,030 2,348,530 861,030 Share premium 5,458,750 5,458,750 5,458,750 5,462,603 5,458,750 5,458,750 5,458,750 5,462,603 172,478 Fixed assets revaluation reserve 1,222,297 1,878,283 1,878,283 1,063,702 1,222,296 1,063,702 1,063,702 1,063,702 1,063,702 Revenue reserve (5,017,368) (4,548,443) (2,716,025) 191,768 (2,144,531) (1,488,793) (118,495) 1,004,447 87,003 Capital reserve (329,252) (253,090) 349,859 ------Goodwill - - - 587,950 (52,823) - - - - Non-controlling interests 328,758 268,204 (126,354) 40,713 - - - - - Total equity 4,011,215 5,151,734 7,192,543 9,695,266 6,831,722 7,381,689 8,751,987 9,879,282 2,184,213
TURNOVER AND PROFIT Turnover 1,777,737 1,484,915 988,615 2,400,342 1,309,435 791,756 319,819 1,913,108 4,467,186 (Loss)/profit before taxation and extraordinary item (1,198,400) (1,801,323) (2,474,699) 835,706 (596,618) (1,205,986) (641,275) 783,025 1,046,818 Taxation (38,582) (424,710) 140,540 642,684 36,054 (438,992) 119,427 627,397 247,502 Extraordinary item - (409,669) - - - - 745,990 847,859 - (Loss)/profit after taxation and extraordinary item (1,236,982) (1,791,898) (2,873,094) 193,022 (632,672) (1,147,700) (992,645) 1,003,497 799,316 Attributable to: Owners of the Company (1,101,562) (1,609,820) (2,591,029) 190,818 (632,672) (1,147,700) (992,645) 1,003,497 799,316 Non controlling interest (135,420) (182,078) (282,065) 2,204 - - - - -
PER SHARE DATA (Kobo): (Losses) / earnings per share Basic (26) (38) (61) 4 (13) (24) (21) 27 46 Earnings per share Diluted ------21 46 Net assets per share 85 110 153 206 146 157 186 265 127 (Loss)/earnings per share is based on (loss) / profit after taxation but before extraordinary item and the weighted average number of ordinary shares issued and fully paid at the end of each financial year. Net assets per share is calculated based on the net assets and the number of issued and fully paid ordinary shares at the end of each financial year.
44 Chams PLC 2011 Annual Report
Products and Services
ChamsCity To increase its offerings and enhance the quality of service delivery to clients, ChamsVarsity is in process of concluding its partnership As a business unit, ChamsCity is positioned as a service provider. deals with Blackboard/Eiffel Corp to facilitate e-learning. It employs technology as an enabling platform for improved ef- ficiency in business. With over 2000 computer systems and 3 cent- In serving the public sector, ChamsVarsity successfully set up an e- ers in Lagos, Port-Harcourt and Abuja, ChamsCity has facilitated a library centre for FRSC and also handles their requisite ICT training number of international IT conferences, professional examinations; to improve process and job efficiency. computer based testing, e-learning and training. Corporate organi- zations have also latched on its platform to enhance their recruit- Naira.com ment and testing processes. Naira.com focuses on online infrastructure development and ser- Following the merger and acquisition of Supercard Limited (a sub - vice provision for businesses or institutions that seek online pres- sidiary of Chams Plc) with Chams PLC, ChamsCity acquired the ca- ence and or seek to utilize ICT as an enabling tool for simplifying pacity and resources for Identity management offerings and has its processes. Naira.com provides a safe and secure environment continued to manage clients and handle related projects. for carrying out online payments using recognized local and inter- Within the year, ChamsCity facilitated a number of computer based national debit/credit cards. testing and training for corporate multinationals and government 2011 saw a number of activities for Naira.com from the set up institutions. It also has handled biometric staff audit and verifica - of the web portal and e-voting system for the Chartered Institute tion for a number of states and government parastals. Some of of Personnel Management; also for the Nigerian Institute of Ar- its major clients are Nigerian Airforce (NAF), Nigerian Customs Ser - chitects as well as Institute of Chartered Accountants of Nigeria vice, Osun State, Anambra State, NCC, Amnesty, Anambra State, (ICAN). Also handled portal development for Nigeria Reinsurance; Bureau for Public Enterprises, Power Holding company of Nigeria, IBA SEERIL Conference registration and payment; Young Lawyers’ National Identity Management Commission, Nigerian Computer Conference portal development Society, etc.
Terminals and Printers ChamsVarsity The ripple effect of the CBN Cashlite policy has positively impacted Set up as a strategic business unit within Chams PLC to deliver on the business of the Terminals and Printers unit. Banks today quality ICT and industry specific training to corporate organisations, have the need to promptly provide cards to their clients to enable government institutions and individuals. them carry out transactions out of the bank locations and even ChamsVarsity is the ideal ICT training organization with the required online. expertise to handle professional training with object-oriented deliv - As exclusive distributors of DataCard printers, in Nigeria, the termi- ery. It handles and delivers training solutions to both the corporate nals and printers unit have sold, installed and are presently servic- citizenry and individuals in diverse IT career and executive courses. ing a sizeable number of Datacard printers ChamsVarsity also offers executive course packages like Prepara - The unit’s strategic focus is on ensuring a pervasive use of Da- tion for Project Management (PMP), ITIL Foundation and Prince tacard printers across financial, educational, health institutions in 2 training as well as the platform for writing such examinations. Nigeria and its focused on the development of Marketing Chan- Also, since training is a skills acquisition affair that is a penultimate nels - Webshop, Outlet Stores, Channel Partners, Service Centres requirement for personal development and a solid career path, and Office Front Stores to achieve this objective. ChamsVarsity has invested heavily in the provision of the right qual- ity of trainers as well as infrastructure for the utmost conducive One of the major highlights for the year was the Head of Service learning. contract award for Access Control through the NIMC. Also the completion of the Valucard financial Instant Issuance solution was In the period under review, ChamsVarsity expanded its frontiers another major high point in the year. Others clients include First with the set up of on-campus training centers at the Lagos State Bank of Nigeria Plc, Zenith Bank PLC, Epayplus, Mainstreet Bank University and Obafemi Awolowo University (in progress). PLC, Integrated Healthcare, ASCON etc
45 Hope springs eternal
Subsidiaries
CardCentre Limited creasing the internally generated revenue by 100% within a year. With the fast paced changing demands of customers and the econo- yy Towards ensuring the effectiveness and efficiency of their services, my, CardCentre recently upgraded their current production machines ChamsSwitch engaged the services of Bankserv, the largest switch to produce multi pins card in line with market demand and successfully in South Africa which has been in operation for over 30 years, to deployed two MX 6000 printers to be used for the personalization of refine its processes and procedures. VISA chip cards. CardCentre in partnership with Unified Payment Sys- tems Limited (Formerly ValuCard) has supplied financial cards. Other yy The Switch till date has also developed diverse industry focused corporate bodies subscribing to their services include Insurance Compa- solutions that render valuable services to private and public sec- nies, Telecommunication companies and other corporate organisations. tor organizations. These solutions include Paycollect, Multipay and Webpay which some sectors of the economy are presently sub- Some of the major projects carried out in the year in- scribed to. clude ; Personalization of financial cards at ValuCard , issuance of IGR Cards for Anambra, supply of Ruim Its project milestones for 2011 include Cards to Intercellular; supply of Smart ID Cards to the yy Abia State IGR and collections Nigerian Customs. yy Anambra State IGR yy Nassarawa State PayCollect Chams Access yy Connectivity to 5 banks, Consequent upon the policy summersault by the Central Bank of Ni- yy MultiPay live and in testing phase. Various Govt. & Corp. Custom- geria on ATM deployment by independent Automated Teller Machine ers in view Consortium services, banks are now acquiring ATMs for themselves. • Schools focus – OAU, UNAAB etc In the light of this ChamsAccess business extended PayMaster its frontiers to Ghana whilst prospecting local PayMaster; is a CBN licensed POS Terminal Solutions Provider (PTSP) de- banks and other financial institutions here in Ni- ploying POS terminals and innovative solutions on POS terminals are geria. It has deployed ATMs to Energy Bank in the main thrust of the company. PayMaster is equipped with requisite Ghana and is in partnership talks with a major Ni- manpower and skills for the deployment and provision of technical sup- gerian bank with a wide network across the country. port for POS terminals deployed across the country. It is one of the To further fortify their operational capacity, the company presently runs companies driving the cashlite Lagos agenda of the CBN. an end to end test of their ATMs through the Nigeria Central Switch. In furtherance to the PTSP license issued Chams Access has recently expanded services which were being ren- PayMaster limited, CBN also approved and dered to NITDA National Information Technology Development Agency endorsed the Bitel terminal as one of the 4 brands of POS acceptable in 2007 following recent update in the MOU to include the provision of for deployment for the Cashlite Nigeria project. To bridge any technical outsourced management for eighty five (85) Rural Information Technol- gap, PayMaster is in Partnership with Bitel and IVERI for the develop- ogy Centres by the company. ment of additional value added offerings on the POS while also provid- ing technical competence and support. ChamsSwitch Limited Also, the Bitel terminals were integrated with the Nigeria Interbank Set- ChamsSwitch has over the years developed core competence in pay- tlement System (NIBSS) to facilitate seamless transaction on the POS. ment and collection processing systems as well as transaction switching and processing. The switch offers flexible, safe and reliable switching ChamsMobile Limited solutions for transactions and operates an ACI Base 24 eps - a switch- ChamsMobile secured approval-in-principle from Central Bank to oper- ing solution which is the recommended best by International standards ate a mobile payment system in Nigeria. It has thus far completed its and is currently used by international pilot phase and gone through the different levels of audit by the apex Banks, VISA and Mastercard. bank to obtain an operating license. Some of the landmark achievements ChamsMobile offers a secure mobile payment solution to the vast ar- are ray of the unbanked in the rural and suburban communities. Services yy ChamsSwitch was the first Switch to successfully test and connect available include cash-in and Cash-out, cash transfer, balance inquiry to the Nigerian National Central Switch and was recently awarded and mini account statement, phone credit top-up, utility payment etc. the right to deploy its revenue collection solution, PayCollect, to ChamsMobile has commenced deployment of its mobile payment solu- consolidate and collect all revenue in Anambra State aimed at in- tion to closed communities and is extending its reach gradually.
46 Chams PLC 2011 Annual Report
List of Unclaimed Dividends as at 31 December 2011
Account Account Account Account No Name No Name No Name No Name 1. 720 A & B CAR CONCEPT NIG LTD 73. 1905 ADEDAYO M. OLAJUWON 145. 7746 ADEWOLE SOLOMON FELIX 217. 3634 AGWU CHUKWUEMEKA KALU 2. 6223 ABALI ISAIAH ORJI DR 74. 8381 ADEDEJI ADEFOWOPE GBENGA 146. 1923 ADEWUMI BABATUNDE JOSEPH 218. 3509 AHMAD ABDUKADIR 3. 3459 ABARI JOHN 75. 1907 ADEDIJI ISAAC OMOLOLU 147. 6723 ADEWUMI TINUOLA ADEWUMI 219. 6699 AHMADU JA’AFARU JIBIYA 4. 4831 ABBA ALMUSTAPHA JAYE 76. 6653 ADEDIRAN OPEYEMI ADEWUMI 148. 6237 ADEYANJU AJIFOLAWE OLAITAN 220. 1739 AHMED TEMITAYO OLUWAFEMI 5. 4286 ABBAS HABIBA 77. 5467 ADEDIRAN PAUL ADEBOWALE 149. 4916 ADEYANJU TIMOTHY AKANJI 221. 8162 AHMODU AJARA 6. 6225 ABDU ADAMA PINADO 78. 429 ADEDOYIN GHOGHO TEMITOPE 150. 8593 ADEYEMI ADEBANJI ADEDEJI 222. 1959 AIGBODJE OVO 7. 1217 ABDUL MAJID WAKILU 79. 5025 ADEFILA MOTUNRAYO FELICIA 151. 5381 ADEYEMI ADEKUNLE MARK 223. 4375 AIMS ACHIEVERS CONSULTING LTD 8. 7410 ABDULKARIM JIDDA 80. 5717 ADEGBERO KAYODE OLUSEYE 152. 1926 ADEYEMI EDNA 224. 732 AIYELEYE AYODELE PHILIP 9. 6882 ABDULKARIM MOSHOOD BIODUN 81. 1913 ADEGBITE ADEDOTUN OLAWEPO 153. 3315 ADEYEMI M ADENIYI 225. 733 AIYELEYE FRANCIS BANKOLE 10. 6810 ABDULKARIM SANI 82. 4518 ADEGBITE ADEYEMI LATEEF 154. 6807 ADEYEMI MUIBAT 226. 4861 AIYERIN OYEDELE 11. 3307 ABDULKARIM TUKUR 83. 7720 ADEGBITE ADEYEMO OLAYINKA 155. 6796 ADEYEMI RAHMAT OLURANTI 227. 1965 AIYERIN OYEDELE 12. 3488 ABDULLAHI ABDULKADIR ALHAJI 84. 4516 ADEGBITE OLUKEMI OLUBUNMI 156. 3637 ADEYEMI TAIWO RAHMAN 228. 8086 AIYETAN BUNMI OLAMIDE 13. 4830 ABDULLAHI ABU RIMI 85. 3229 ADEGBOLA TITILOPE 157. 5498 ADEYEMI TEMITAYO PHILIP 229. 6437 AJA KALU 14. 1214 ABDULLAHI AISHAT EBUN 86. 6542 ADEGBOYE JAMES BABATUNDE - OCCAM 158. 8390 ADEYEMI WILLIAMS OLUSEGUN 230. 4858 AJADI OLAWALE FATAI 15. 1854 ABDULLAHI BASHIR ANANGI 87. 704 ADEGBOYE KEHINDE ISAAC 159. 1930 ADEYEMO ADE 231. 5395 AJADI OLAYINKA 16. 1855 ABDULLAHI GUMEL JAMILA SANI 88. 1834 ADEGBOYEGA MICHAEL OLUSEGUN 160. 6822 ADEYEMO ADESOLA ALEX 232. 3279 AJAEGBU CHIDI O 17. 7880 ABDULSALAM ZARIYAT OMOBOLA 89. 8130 ADEGOKE TEMITOPE ADENIKE 161. 6 ADEYEMO SIMEON OLUSEGUN 233. 8087 AJAGBUSI BOLARINDE 18. 6228 ABDURRAHIM ABDUL 90. 104 ADEGOROYE GOKE 162. 1932 ADEYERI SUNDAY OLUGBENGA 234. 8090 AJAH EKEOMA 19. 5874 ABDUSSALAM NAJEEB MAHMOUD 91. 3710 ADEJINMI OLADOYIN JANET 163. 7097 ADEYINKA ADEDAPO SUNDAY 235. 8402 AJALA ADESOYE OYINADE 20. 6558 ABE ADETOKUNBO OLUSEGUN 92. 8631 ADEJOKUN OLUBUKOLA ADEOLA 164. 1933 ADEYINKA OLADIPUPO 236. 1970 AJAYI ADEDIRAN GABRIEL 21. 1860 ABEJIDE EYITAYO BOSEDE 93. 7198 ADEJORIN ADETAYO PRINCE 165. 1934 ADEYINKA OLUKOLAPO ROTIMI 237. 3663 AJAYI BABATUNDE 22. 722 ABENGOWE NGOZI ANNABEL 94. 5886 ADEKANYE MUDASHIR ADENRELE 166. 1935 ADEYINKA OLUROTIMI 238. 4853 AJAYI COMFORT KEHINDE 23. 1861 ABERE SIJIBOMI 95. 1370 ADEKOLA TEMILADE 167. 1126 ADEYINKA OLUWAREMILEKUN 239. 7262 AJAYI KEHINDE OLUWATOYIN 24. 6557 ABIDOLU OMOTAYO 96. 726 ADEKOYA OLATUNBOSUN 168. 3342 ADH NOMINEES LTD 240. 1977 AJAYI OLANIYI OLALEKAN 25. 6806 ABIDOYE TAOFEEK OYEKUNLE 97. 3708 ADEKOYA OLUMIDE ADEMOLA 169. 3324 ADH NOMINEES/ SALAUDEEN OLADIMEJI ISMAIL 241. 8084 AJAYI OLUWASHOLA MICHAEL 26. 5022 ABIMBOLA ONALAJA SAMUEL A 98. 1845 ADEKOYA OLUSOLA JULIUS 170. 4941 ADIGUN OLAMIDE 242. 976 AJIBOLA-ODU OLUKEMI TOLULOPE 27. 4554 ABIMIKU JULIUS 99. 4964 ADEKUAJO CHARLES & FRANCIS (MR.& MRS.) 171. 4940 ADIGUN OLASUNKANMI 243. 137 AJIBOYE GBENGA 28. 885 ABINA OLAOLUWA 100. 688 ADEKUNLE BAMIDELE 172. 4938 ADIGUN OLAWALE AYINDE 244. 6724 AJIMOTOKIN ADETAYO VICTOR 29. 6797 ABINLEKO ISMAIL ADEWALE 101. 1869 ADEKUNLE EMMANUEL OLUDAISI 173. 3622 ADIGUN OLAWUNMI ALADEKOMO 245. 6805 AJISEFINNI ADEBOLA SIKIRU 30. 1040 ABIODUN AFOLABI KAREEM 102. 1870 ADEKUNLE KAYODE OLUFEMI 174. 6977 ADIGUN OMOWUMI T. 246. 7823 AJOKU CHIBUZO NNAEMEKA 31. 4835 ABIODUN CELINA ABIKE 103. 4193 ADEKUNLE TEMITOPE ALBERT 175. 8634 ADIGWE EZEKIEL NDUBUISI 247. 7756 AJOLOKO IDOWU OLAWALE 32. 3312 ABIODUN E. ADENIYI 104. 1872 ADELAJA ADEBOLA AYODEJI 176. 4202 ADIO ADEMOLA ALEXANDER 248. 8640 AJOSE OLUWATOYIN AJOKE 33. 982 ABIODUN HELEN TITILAYO 105. 5942 ADELANI ADEKUNLE AFEGBAI 177. 4365 ADIO ARUNA ABIOLA 249. 1988 AJOSE-ADEOGUN OLUREMI 34. 3681 ABIODUN YACOOB A. 106. 7740 ADELEKE BABATUNDE ABAYOMI 178. 3449 ADIRA AKISON 250. 2183 AJOSE-ADEOGUN OLUYINKA 35. 8370 ABIOYE BILIKISU SHOLA 107. 1876 ADELEYE OLUGBENGA ABIODUN 179. 4366 ADISA HAMMED OLANREWAJU 251. 4215 AJUGA BEDE CHIDIEBERE 36. 6192 ABIOYE DORCAS OMODELE 108. 7086 ADELEYE OLUWASEUN BETTY 180. 1943 ADISA OLABISI TEMITOPE 252. 5673 AJUKWU CHINEDU CHRISTIAN 37. 1661 ABOLAJI ABOLANLE KAFAYAT 109. 5036 ADEMEFUN KOLA OLUFEMI 181. 6507 ADO SANI MAI HULA 253. 3659 AKA HAKEEM OLAWALE 38. 951 ABOLARINWA KAYODE 110. 5349 ADEMOLA SHAFIU ADEWOLE 182. 8051 ADO YOLA ZAKARIYYA 254. 707 AKABOGU NCHEDO AUGUSTINA 39. 1865 ABOLO PAUL CHUKWUWETA 111. 2462 ADEMOSU OLASUPO 183. 3303 ADOGIE ABDULRAHMAN ALENOGHENA (SOW) 255. 1487 AKACHUKWU IHUARU UZUEGBU 40. 1663 ABONYI EUPHEMIA OGECHUKWU 112. 3 ADEMOYE ABIODUN 184. 3367 ADOLPHUS EBELECHUKWU EZENWA 256. 640 AKAIGWE CHRISTIAN OGOCHUKWU 41. 8023 ABORE HAUWA UMAR 113. 8137 ADENIJI TAOFEEK YOMI 185. 8393 ADUBUOLA ATINUKE TOLULOPE 257. 4379 AKAM GEOFFREY 42. 4724 ABRAHAM OSAZELE 114. 8152 ADENIRAN OYENIYI 186. 706 AFANU JOSEPH ABAYOMI 258. 2187 AKAMELU OBIANUJU ADLINE 43. 6496 ABUBAKAR AISHA AMAIRA 115. 4 ADENIYI ADEYEMI 187. 6545 AFOLABI FAIDAT FOLASADE 259. 1177 AKAN BASSEY ENENE 44. 3469 ABUBAKAR AISHA IGE 116. 7401 ADENIYI TOLANI ALADE 188. 8154 AFOLABI OLAYEMI KAZEEM 260. 8080 AKANDE ALABA DR & MRS 45. 8372 ABUBAKAR ALI BALA 117. 3701 ADENUGA OLATUNJI PETER 189. 1752 AFOLABI OMOWUMI EUNICE 261. 2190 AKANDE AYODELE ALABA 46. 4285 ABUBAKAR ALIYU 118. 1882 ADEOGUN IYIOLA 190. 8394 AFOLABI SUNDAY IBUKUN 262. 6201 AKANDE BABATUNDE JOSHUA ALAMU 47. 1893 ABUBAKAR ALIYU 119. 3698 ADEOGUN JULIANAH YEMISI 191. 1668 AFOLABI TABITHA ADUNOLA 263. 3657 AKANO OLASUMBO AKINTAYO 48. 8373 ABUBAKAR KABIRU 120. 5 ADEOLA ANIFOWOSHE 192. 1212 AFOLALU ABISOLA OLANREWAJU 264. 6661 AKANUSI DICKSON 49. 6497 ABUBAKAR UDU FATIMA AMAL 121. 3323 ADEOLA GANIYU OLAJIDE 193. 9 AFOLARIN BANWO 265. 6571 AKAPO DEMILADE EDWARD 50. 6986 ACHILIKE PIUS 122. 4573 ADEOLU AUGUSTINE ABIODUN 194. 6241 AFONNE JOSEPH-CHUKWUEMEKA 266. 3669 AKEANYA CYTHIA 51. 4816 ACHIMUGWU OJONUGWA VIVIAN 123. 3697 ADEOYE FREDRICK 195. 4924 AGADA E. AGADA 267. 3655 AKEREDOLU-ALE AKINSOLA 52. 5929 ADAJI ELIZABETH ADAJI 124. 8184 ADEPOJU IYEBIYE OLUWADUNBARIN 196. 3630 AGADA SOLOMON AGADA 268. 2194 AKIGBOGUN AYOOLA OLABIRAN 53. 3497 ADAMS NAZEEF UMAR 125. 4187 ADEREMI ISAAC ADENIYI 197. 4182 AGARAWU KUDIRAT ADERONKE 269. 5642 AKINBAMBO RASHIDAT ADERONKE 54. 3477 ADAMU ALIYU PAKI 126. 8176 ADEREMI TOYIN MARY 198. 6242 AGBAEGBU NNAMDI 270. 3653 AKINBOBOYE FRANCIS TAIWO 55. 4767 ADAMU BINTA 127. 7195 ADESANYA ADEBAYO MAYOWA 199. 3281 AGBAPU BETHRAM 271. 6560 AKINDELE HAKEEM AMOO 56. 4256 ADAMU BITRUS 128. 1393 ADESEMOWO ADEFOLARIN OLAITAN 200. 3231 AGBAPU CHIDOZIE 272. 298 AKINDELE OLUKAYODE OLADIPO 57. 4768 ADAMU IBRAHIM 129. 5912 ADESEMOWO OYEBADE OBASANJO 201. 3629 AGBOGO VANESSA O. 273. 6001 AKINGBADE KEHINDE MONSURU 58. 7771 ADAMU SULE SYLVESTER 130. 3623 ADESHINA BOLA 202. 1953 AGBOLUAJE KABIR LAWAL 274. 5497 AKINGBE AJIBOYE JOSHUA 59. 6698 ADAMU YAHAYA YUSUF 131. 4918 ADESINA OLABODE ADEBAYO 203. 5392 AGBOLUAJE LUKUMAN OLAWUMI A 275. 3651 AKINJOLA OLUGBENGA 60. 4787 ADAMU YUSHAU 132. 6235 ADESULURE ROSEMARY MODUPE 204. 176 AGBOOLA OLAIDE 276. 2200 AKINJOLE KEHINDE 61. 6668 ADARAMAJA MOBOLAJI ABIODUN 133. 5913 ADESULURE ROSEMARY MODUPE 205. 4380 AGBOOLA RAPHAEL AYOOLA 277. 3650 AKINKUNMI ADEBAYO TAIWO 62. 3676 ADEAGBO ADEBOWALE MUYIDEEN 134. 5372 ADESUNLOYE ADEBISI 206. 1066 AGBOTI AZUBUIKE EMMANUEL 278. 6186 AKINLABI OLUWASEYI EMMANUEL 63. 441 ADEBAJO PEJU 135. 3641 ADETAYO SOLOMON TUNDE 207. 8396 AGENE OMOLUMEN 279. 7900 AKINLADE BUKOLA KUBURAT 64. 3675 ADEBAMBO ABAYOMI 136. 5413 ADETOLA GABRIEL ADEBAYO 208. 7757 AGHEDO ANTHONY BLESSING 280. 5517 AKINLADE FLORENCE OLUFISAYO 65. 1900 ADEBAYO OLADIMEJI TAHIR 137. 5346 ADETORO TAIWO 209. 7757 AGHEDO ANTHONY BLESSING 281. 7383 AKINMAMEJI JAMES TAIWO 66. 3672 ADEBESIN ADEOLA RAHAMAN 138. 4805 ADETUGA ADEDOYIN TABURA 210. 8397 AGHETE EDWARD FRANKIN 282. 6568 AKINNOLA OLUWADAMILOLA OLUBOWA 67. 4955 ADEBISI MORUF ADETOLA 139. 1919 ADETULA BABATUNDE TIMOTHY 211. 5358 AGSABO JACOB OGUNBIYI 283. 7042 AKINNUGBA ALICE UGONMA 68. 8148 ADEBISI PAULINA ADUKE 140. 1920 ADETUNJI ADEKOYA 212. 7985 AGU EMMANUEL CHUKWUEMEKA 284. 3791 AKINSANYA AYOWUNMI JULIANA 69. 3682 ADEBO VICTOR ESECHE 141. 6176 ADETUNJI ADESOKAN ELIJAH 213. 4612 AGUGUO JACINTA CHINYERE 285. 6577 AKINSETE BABATUNDE ADELAKUN 70. 5706 ADEBOLA OLUSEGUN OLAJIDE 142. 4947 ADEUYI OLAOLUWA O 214. 4920 AGUNBIADE FESTUS ADELOYE 286. 5787 AKINSOYINU ABDUL YEKINI 71. 4986 ADEBOMI EBUNOLUWA 143. 8178 ADEWALE OLAIDE SHAKIRAT 215. 8398 AGUNBIADE RASHEED OLATUNJI 287. 3706 AKINSUNMADE AKINTOYE OLUKAYODE 72. 4998 ADEDAYO ADEYINKA ADEYEMI 144. 4917 ADEWOLE BABATUNDE FARUQ 216. 1956 AGUSTO OLANDE ASHABI 288. 2209 AKINTAYO AKINWUNMI ADEWUYI
47 Hope springs eternal
Account Account Account Account No Name No Name No Name No Name 289. 4874 AKINWANDE JAMES ABIODUN 369. 323 ANGELA TELLA MORIAMO 449. 4815 AYENI AGNES OLAWUMI 529. 3282 CARDOSO OLAYEMI 290. 6979 AKINWANDE MOSES FOLORUNSO 370. 8410 ANGYU SIMON ISTIFANUS 450. 2308 AYENI ALEXANDER 530. 3340 CHAMS PLC 2008 PRIVATE PLACEMENT SUSPENSE ACCOUNT 291. 3783 AKINYEMI IBIYEMI 371. 295 ANIDUGBE KOFOWOROLA OLAITAN 451. 2311 AYENI OLORUNGBON DAVID 531. 7825 CHIBUIKEM REX CHIDIEBUBE 292. 3782 AKINYEMI KEHINDE 372. 6272 ANOINTED FEET PRIVATE SCHOOL 452. 5965 AYILARA FALILATU ASANI 532. 3390 CHIBUOGWU IJEOMA M 293. 2212 AKINYEMI KOLA 373. 5042 ANOSIKE BENJAMIN NNAMDI 453. 999 AYINDE ABIMBOLA OMOTANWA 533. 1300 CHIBUZO-ONYEBUENYI CHIKA B. 294. 7253 AKINYEMI MORUF KEHINDE 374. 5626 ANOSIKE ERIC IKENNA 454. 4976 AYINDE GBENGA OLUBODE 534. 3742 CHIGBU KINGSLEY NDUBUSI 295. 2213 AKINYEMI MUYIWA 375. 3462 ANOSIKE ONYEMAUCHE JAPHET 455. 3644 AYODELE OLUSEGUN 535. 5951 CHIMA KINGSLEY TOCHUKWU 296. 6174 AKODAOLU SAMSON ABAYOMI 376. 6273 ANSARI RUTH 456. 8006 AZIONU CHINEDU RAPHAEL 536. 1416 CHINAKA CHINONYE 297. 3319 AKOMOLAFE LADIPO 377. 6688 ANTHONY CHINONSO ANTHONY 457. 8356 AZUONWUN COLLINS UCHENNA 537. 483 CHINECHEREM FABIAN E. 298. 2216 AKOSILE ADEGBOYEGA RAZAK 378. 950 ANUCHE NGOZI MAUREEN 458. 5536 BA’ABA ABUBAKAR 538. 8426 CHINWE HOPE OKEKE 299. 7177 AKPAMGBO CHARLES OKECHUKWU 379. 3799 ANUFORO IBE 459. 8419 BABAJIDE ISIAKA AMOO 539. 1127 CHIVALRY MERCHANTS & BROKERS LTD 300. 8110 AKPAN ANTHONY PIUS 380. 6520 ANULIGO GRACE UDUIFEOMA 460. 118 BABAJIDE OLUWASANMI 540. 5976 CHRISTOPHER EMEKA 301. 8609 AKPAN ESSIEN EFFIONG 381. 5052 ANUNOBI THEOPHILUS 461. 4982 BABAJIDE SUNDAY ADELEKE 541. 325 CHUKWU ANN 302. 6543 AKPAN UKEME PETERS 382. 5552 ANURUKEM CHIMA 462. 4706 BABALOGBON TEMITOPE JOSEPH 542. 324 CHUKWU BOBBY THEOPHILUS 303. 6198 AKPEJI AUGUSTINE AYODELE 383. 3798 ANUUWA UCHECHUKWU CHUKWUDI 463. 4984 BABALOLA ADEGBOYEGA ADESOJI 543. 6285 CHUKWU EVELYN CHIBOGU 304. 6195 AKPEJI MONICA YETUNDE 384. 2266 ANYAELE NNENNA 464. 1014 BABALOLA OLUSOLA 544. 5995 CHUKWU GODWIN 305. 6200 AKPEJI STELLA OMOBOLANLE 385. 2267 ANYANWU BERNARD OBIDINMA 465. 4399 BABA-MANU MARYAM 545. 2381 CHUKWUEBUNI PATRISON 306. 2219 AKPUOGWU ANAEFUNA 386. 3455 APATA ADEDAYO TOBA 466. 4282 BABA-MANU RUKAYYATU 546. 5563 CHUKWUEDO AUSTIN IKECHUKWU 307. 2223 AKUMABOR IMUETINYAN VICTORIA 387. 1450 APEX IT SERVICES LIMITED 467. 7840 BABATUNDE NEE ONAADEPO ADEJOKE 547. 4967 CHUKWUEKETE CHRISTOPHER 308. 6463 AKWAKWA EFE JOHN 388. 5048 ARABI OLUWASEUN JOSEPH 468. 7808 BABATUNDE OLUWATIMILEHIN ADEMIDE 548. 3472 CHUKWUMA PAUL NNODI 309. 6994 ALAAFIN PETER ADEYEMI 389. 6464 ARAOYE CHRISTIANAH OLABISI 469. 5000 BABATUNDE SEUN 549. 8659 CHUKWUMALU UJU MARYLINDA 310. 6802 ALAAFIN PETER ADEYEMI 390. 8413 ARASE GRACE MUAME 470. 7829 BABAYARO BARAATU 550. 2382 CHUKWUMERIJE CHUBY NNAEDOZIE 311. 3777 ALABARAONYE KELECHI 391. 6857 ARAZU VIVIAN NNEKA 471. 4410 BABFAL NIG LTD 551. 3751 CHUMPYPLANET ENT. & GEN. MERCHANISE 312. 2227 ALABI MAHMOUD LAI 392. 8094 ARCHIBONG LOUIS EDEM 472. 590 BADEJOKO ADETOLA O. 552. 8719 CHUNDUSU DAFON ISHAYA 313. 3789 ALABI OLADELE ADEBIYI 393. 3796 AREMU FOLAKE THERESA 473. 1068 BAJAH EMIKO 553. 8649 CITY DEALS GLOBAL VENTURES 314. 286 ALABI OYETOLA OLAONIPEKUN 394. 8414 AREMU TOYIN IYABO 474. 4590 BAKARE BAKARE ADEBAJO AKEEM 554. 4972 CLAD LIMITED 315. 7874 ALABI WASIU ADEBOWALE 395. 3232 ARIDOZ INVEST. & PROPERTIES LTD 475. 7789 BAKARE FAUSAT OLAYEMI 555. 5551 CLAD LIMITED 316. 3772 ALAJA-BROWNE FOLAYEMI 396. 8093 ARIYO RAFIAT OLAJUMOKE 476. 7534 BAKARE PANIAGUA DAMILOLA 556. 150 CLEARVIEW INVESTMENT CO. LTD 317. 8033 ALAMAS MUSA NGALE 397. 3792 ARIYOH RILWAN ABIODUN 477. 7767 BAKARE PANIAGUA DAMILOLA 557. 3750 COLLINS IBEKWE 318. 5363 ALAMU AKEEM 398. 5946 AROGBAOLA AKINWANDE NIYI 478. 5859 BALA MUSTAPHA DAWAKI 558. 3325 COLTROSS LTD 319. 4356 ALAO EMMANUEL SEGUN 399. 7904 AROKOYU OLUSOLA FLORENCE 479. 3511 BALARABE LAWAL HALIMATU 559. 20 COMPSOLVE INTERNATIONAL LINK 320. 437 AL-ASA NIGERIA LIMITED 400. 1039 AROWOLO OLUSEUN GBADEBO 480. 4991 BALOGUN ADENIYI SHAKIRU 560. 3295 CORE TRUST & INVESTMENT LTD 321. 7043 ALBABA YAKUBU 401. 2282 AROWOSHOLA OLUFUNMILAYO ADERINSOLA 481. 5492 BALOGUN ADENIYI SHAKIRU 561. 2386 CORNERSTONE TRUSTEES A/C PETERS EMMANUEL OLULONIYIN 322. 5333 ALEJO OLAWANDE OLAYINKA 402. 5837 ARUNA OLADEINDE WASIU 482. 4412 BALOGUN Y. 562. 6732 CRYSTALIFE ASSURANCE CO. LTD-NOMINEE A/C 323. 3801 ALFRED DELE DAMILOLA 403. 5953 ARUNAH DENIS 483. 2343 BAMGBOPA ABDULAZEEZ KAYODE 563. 3297 CTC GLOBAL VENTURES 324. 4357 ALI A. A. 404. 3813 ASALU SAMSON 484. 2344 BAMGBOPA KEHINDE 564. 2398 DADA OLUROPO OLUBODE 325. 4820 ALI AMBISISI DANLAMI 405. 2286 ASEIN BOLA FUNMILAYO 485. 4165 BAMGBOYE YOMI OLUWASEUN 565. 5033 DADA TEMITOPE 326. 5782 ALI AUDU 406. 3740 ASHIRU IDOWU BASHIRU 486. 8644 BAMIDURO KEHINDE BUKOLA 566. 5038 DAIRO BABATUNDE FISAYO 327. 6262 ALI FLORENCE KINYAR 407. 1420 ASHIRU-BALOGUN ADEOLA 487. 2346 BAMIGBETAN DELE 567. 6812 DANBUGA ABDULKADIR JELANI 328. 5641 ALI MOHAMMED MOHAMMED 408. 369 ASIJE MICHAEL A. 488. 2347 BAMIGBETAN DOTUN 568. 5515 DANIA LAMIN GHAZI 329. 6265 ALIDU CHRISTOPHER 409. 2236 ASIMOLOWO BASHIR OLABAMIJI 489. 2348 BAMIGBETAN KAYODE 569. 6006 DARAMOLA OLUREMI ALICE 330. 3803 ALIGO CHINEDU VINCENT 410. 3233 ASINOBI ONYEWUCHI CHIKEREM 490. 2350 BAMIGBETAN OLUKAYODE 570. 5053 DAUDA HEMAN 331. 5023 ALIMHINGBE MICHAEL OWHEGOJABO 411. 157 ASINOBI OYEWUCHI (DR) 491. 3721 BAMIGBOJE BEATRICE 571. 7765 DAUDA MOSHOOD OLADIPUPO 332. 8591 ALIYU HAMZA ABUBAKAR 412. 3341 ASSOCIATED ASSET MANAGERS LIMITED 492. 5890 BANKOLE TAOFIQ ASHOLA 572. 6967 DAVID DANIEL 333. 642 ALLI ADEBAYO 413. 2291 ASU ARCHIBONG UTONG 493. 17 BARUWA FATAI 573. 8429 DAVID DANLADI UGBEDE 334. 102 ALLI BALOGUN TOKUNBO (DR) 414. 2292 ASUBIOJO OLUWEMIMO COMFORT 494. 8294 BARUWA IBRAHIM TEMITOPE 574. 3525 DD INTEGRATED INVESTMENT SERVICES LTD 335. 3778 ALLO ABIOLA 415. 4372 ASUNMO RASAQ AJAYI 2 495. 3470 BASHIR FATIMA UMAR 575. 8263 DEABODE INVESTMENT LIMITED 336. 3812 ALLO MORONKEJI 416. 7853 ASUZU DELIA 496. 4407 BASIC POWER PRODUCTS LTD 576. 3537 DE-CANON INV.-TRADED-STOCK-A/C 337. 3811 ALLO RASHEEDAY 417. 2294 ATALABI BRENDA TEMILOLA 497. 6845 BASSEY IFREKE IME 577. 2412 DELE-GIWA OLUFUNMILAYO 338. 578 ALLWELL-BROWN SIENNE 418. 4727 ATALOR ABEL 498. 4279 BELLO ABIOLA HANNAH 578. 6531 DERE WASIU ABIODUN 339. 6569 ALO ADEWALE DANIEL 419. 8655 ATANDA AZEEZ ISHOLA 499. 712 BELLO ADEOLA 579. 8431 DIBOR ANTHONY AMACHI 340. 3809 ALOBA OLASUPO OLUWASEYE 420. 4714 ATAWODI SALIU 500. 2357 BELLO AISHA BABA 580. 1531 DICK-NWOKE UGORJI NNANNA 341. 8115 ALOBA OLUWASEYI CALEB 421. 8654 ATE GIDEON ATIM 501. 6171 BELLO EMMANUEL IBITOLA 581. 1161 DIKE ESE OGHENE 342. 8105 ALOGBE OTHUKE EPHRAIM 422. 6276 ATITEBI OMOBOLADE ADEOLA 502. 3728 BELLO NURA MUHAMMED 582. 1159 DIKE ODJUS 343. 5357 ALOMO ABDULRASHEED ABIOLA 423. 3737 ATOGWE IMONE JOHN 503. 7054 BELLO TAIWO HASSAN 583. 5338 DIM JOHNSON UCHE 344. 5387 ALONGE AYODELE 424. 7102 ATSANDA RAS CYRIL 504. 1462 BILLIE SHEHU SALISU 584. 6290 DIMKA EZEKIEL GOTOM 345. 709 ALUKO ADETORO 425. 3735 ATTAH OGOCHUKWU 505. 2361 BIMLAG PRIESTLY TRAIN FOUNDATION 585. 7089 DIYAN OLUWATOSIN OLALEKAN 346. 8409 AMACHREE ABIYE AUGUSTINE 426. 8620 ATTAMAHCHUKWU VALENTINA OSAYEMWENRE 506. 4214 BIOKO BINAEBI NANCY 586. 3543 DOKUBO TONYE THEOPHILUS 347. 3805 AMAO ABDUL - RASAQ OWOLABI 427. 4664 ATTAZAIKI ISMAIL 507. 4951 BISONG MARY OKAJA 587. 6541 DOPEMU SUNDAY OLAYIWOLA 348. 8104 AMAO OLAJIRE OMOWUNMI 428. 5462 ATUBE EMMANUEL CHIBUZOR 508. 6440 BOBBOI A. AHMED 588. 2418 DOSUNMU ADETOUN 349. 6727 AMAYE FOME FOREMAN 429. 5974 AUDU MARY ADUN 509. 3474 BODUNDE OLUFUNMILAYO AJIBOYE 589. 2419 DOSUNMU AJIBIKE 350. 2248 AMEADAJI ILEMONA 430. 4302 AUDU MONDAY HAPPINESS 510. 4780 BOKO MARY UMARU 590. 2420 DOSUNMU OLUSEYE 351. 2249 AMEADAJI OJONE 431. 1459 AUGUSTA OGBON 511. 8297 BOLAJI STEPHEN DELE 591. 2422 DOYIN IFEDAYO 352. 2250 AMEADAJI OJONUGA 432. 4402 AVROSYN IMPEX LIMITED 512. 765 BOSPAF NETWORK LIMITED 592. 2423 DR ADEPETUN ADEBAYO 353. 8103 AMEEN MUBARAK AHMAD 433. 2298 AWAH HELEN C/O CHIKA UMEDEZIE 513. 5820 BRADFORD & BINGLEY INVEST LTD 593. 3235 DR KEWA SAMAILA MUSA 354. 8101 AMEEN MUHAMMED B A 434. 4403 AWAZIE NDUBUISI CHUWUNYERE 514. 1608 BRIGGS IYOWUNA VICTOR 594. 2429 DR MRS SODIPO OLUFUNLAYO OLAYINKA 355. 6804 AMINU AMINAT OMOLARA 435. 8604 AWE ADEBISI JANET 515. 2365 BRIGUE EBRUCE FLOREEN 595. 1804 DRMOLOVA GBOLAHAN NOIMOT 356. 5008 AMODU FAUSAT OLUWATOYIN 436. 5638 AWE OLAMIDE DAVID 516. 105 BROWN IAN 596. 8621 DUDUS MOTIVE ENTERPRISES 357. 2252 AMONIYAN OLUWADUROTIMI OLADELE 437. 4176 AWODERU OLUWOLE 517. 8204 BUARI MOHAMMED ADEBAYO 597. 5018 DUNG RUTH JOHN 358. 7747 AMOO TOPE SALIU 438. 6975 AWODOYIN OLUWATOSIN IFEDOLAPO 518. 6715 BUARI TESLIMAH TOLULOPE 598. 26 DURODOYE KAZEEM 359. 5634 AMOS EMMANUEL 439. 4983 AWOFESO EZEKIEL ADEDAYO 519. 5960 BUARI ZAHRA OLUTAMILORE 599. 305 DURODOYE KAZEEM KOLAWOLE 360. 746 AMOS IKEDIUWA TROST 440. 2299 AWOJOBI OLUSOJI A. IDOWU 520. 4300 BUBA GWARY HAJARA 600. 162 DURUIKE ALEX 361. 745 AMOS TROST 441. 924 AWOJOOPU BANKE YETUNDE 521. 3761 BUHARI SULE 601. 4207 DYNAMIC ADONAI COOPERATIVE SOCIETY 362. 6919 AMOS-OSEBEYO BOLARINWA-GD/M A/C 442. 4149 AWONUSI EYITAYO SAMUEL 522. 3760 BUKBEE ‘N’ J LIMITED 602. 5024 EBERE IFEANYI PAUL 363. 2254 AMUND AYODEJI PAUL 443. 5629 AWOPETU OLUWAKEMI TOLULOPE 523. 4175 BUSARI SULEIMAN OPELOYERU 603. 6218 EBUEHI STEPHEN OSAGIE WILLIAMS 364. 4619 ANAMENE COSTANCE NONYE 444. 3733 AWOSANYA WASIU OLALEKAN 524. 49 C & I HERITAGE LTD 604. 8624 ECOBANK/TRANSWORLD INV. & SEC. LTD-TRDG 365. 748 ANDEOBIH LTD 445. 6519 AWUJOOLA OLUSESAN JOSHUA 525. 6830 CAC ALABUKUN BENEVOLENT GROUP 605. 4870 EDEM AKAN ISRAEL 366. 4683 ANDY STEVE MOMOH 446. 755 AXHOLME NOMINEE LTD ‘JB’ ACCOUNT 526. 158 CAMRY NOMINEES LIMITED 606. 1292 EDET RICHARD E. 367. 6454 ANEKWE ERIC UGOCHUKWU 447. 2307 AYEDIRAN FUNMILAYO 527. 975 CAPITAL CONSORTIUM LIMITED 607. 4266 EDOMWONYI OGHOSANOR 368. 2256 ANGEL TOLUWANI F. C. 448. 3729 AYELE PATRICK ILOBA 528. 315 CARDINAL DEVELOPERS & TRUST LTD 608. 5798 EDOMWONYI OSARUGUE EDITH
48 Chams PLC 2011 Annual Report
Account Account Account Account No Name No Name No Name No Name 609. 4875 EDUN AKINBODE OWOLABI 689. 8446 EWALEIFOH ISAAC 769. 5926 GBATEMAN JULIANA MEMBER 849. 6709 IGBOKWE UCHENNA SUCCESS 610. 3528 EDUN NGOZI ROSEMARIE 690. 2463 EWALEIFOH ISAAC 770. 5925 GEORGE ENAMETTE SIMON 850. 6710 IGBOZURUIKE EKENE EDWIN 611. 4232 EDWARD HELEN 691. 2464 EWERE HENRY OGBEMUDIA 771. 1580 GEORGE OLANREWAJU OLUSEGUN 851. 8125 IGE OLAOLUWA JOHNSON 612. 4686 EGBENI NKEM EMMA 692. 4687 EYETU BENJAMIN ONOSIGHO 772. 1580 GEORGE OLANREWAJU OLUSEGUN 852. 8595 IGHODO SYLVESTER 613. 3533 EGBO AMAECHI 693. 8117 EZE MICHEL UMEH 773. 1580 GEORGE OLANREWAJU OLUSEGUN 853. 2820 IGHO-OSAGIE PHILOMINA AMENAGHAWORO 614. 4676 EGBO AUGUSTINE ESEROGHENE 694. 648 EZE OBINNA EMMANUEL 774. 5924 GIDAUNIYA INV.& SEC.LTD-TRADED-STOCK-A/C 854. 2560 IGHOOZE-IDAHOSA DONALD 615. 4793 EGBO CHUKWUMA JOSEPH 695. 1464 EZE VINCENET IFEANYI 775. 3557 GILDASSET MANAGEMENT 855. 6476 IGOCHE EMMANUEL ECHE 616. 7888 EGBOO CHRISTIAN EZECHUKWU 696. 2469 EZEASOR AMECHI 776. 3556 GIWA OLUFOLAKEMI OLUFOLARIN 856. 532 IHEANYI OBIALOR 617. 3532 EGBULEFU DENNIS OBINNA 697. 2470 EZEASOR CHIAMAKA FAVOUR 777. 3545 GIWA-OSAGIE HELEN 857. 7826 IHEDIKE JACOB NZUBECHUKWU 618. 1038 EGEDE ROLAND EFE 698. 2472 EZEASOR CHIOMA PRINCESS 778. 3554 GLOBAL ASSET MGT. LTD-TRADED-STOCK-A/C 858. 3573 IHEJIRIKA ESTHER CHIDINMA 619. 6527 EGEKENZE PATRICK IKECHI 699. 2473 EZEASOR ODINAKA AUGUSTA 779. 4907 GOBIS NDIDI ENDURANCE 859. 3582 IHEJIRIKA JUSTUS AKUJOBI 620. 7933 EHIMIAGHE OIKELOME JOSEPH 700. 4337 EZEBUIKE DANIEL ILOAMAEKWU 780. 4690 GODFREY MARVIN CHIDERA 860. 5465 IHONDE AIMALOHI AMENAWON 621. 4265 EHIOGHIREN A. IKPONMWOSA 701. 6301 EZEKA MARTIN CHUKWUNONYE 781. 6703 GODSON MOSES 861. 41 IHONVBERE GRACE 622. 8438 EJIDE EDNA CHIZOBA 702. 7140 EZELIORA AMAKA JULIANA 782. 3552 GOMES S. E. ADEBOWALE 862. 3493 IKANI ANDREW EDEBO 623. 6526 EJIMOFOR UCHE 703. 1693 EZEMA CHUKWUEMEKA 783. 8161 GRACE PERFECT TOUCH SERVICES LIMITED 863. 6128 IKOKWU CHIDIOGOR 624. 4316 EJIMOKUN OLANREWAJU OLAMILEKAN 704. 5770 EZEMA JOHN CHIDI 784. 7809 GRASSLE ‘O CONSULTING 864. 4625 IKUEZE CHIKA JOSEPH 625. 3538 EKE CLINTON NNAMDI 705. 2476 EZEOKE FLORENCE ERIWUAKU 785. 3289 GREENSPACE INVESTMENTS LTD 865. 4156 IKUJINI OLUSOLA MONDAY 626. 6742 EKE OGBONNA KEN 706. 2477 EZEOKE JOHN OBIAGBOSO 786. 242 GSO 866. 42 IKUMARIEGBE WILSON 627. 7197 EKEANYA CYNTHIA OMONIGHO 707. 2478 EZEOKE LAUREN NKIRU 787. 8458 GT BANK/CALYX SECURITIES LTD - TRADING 867. 5774 IKUNWANNE NELSON ELOZONA 628. 3260 EKEH LEO-STAN 708. 2479 EZEOKE MALACHY UCHE 788. 4273 GUNDU SESUGH PETER 868. 4433 IKWUAGWU ELEKWACHI 629. 1688 EKEJI CHIKA 709. 5742 EZERIOHA OKECHUKWU ANTHONY 789. 2528 GURAMA ADAMU 869. 649 ILOBAH ONUORA MICHAEL 630. 2437 EKEOGU BRIDGET 710. 5815 EZIMAH COMFORT CHIGOZIE 790. 2530 GYANG FLORENCE DUNG 870. 7946 ILOBINSO AUGUSTINE ETISIOBI 631. 8605 EKPEMAUZOR CHINENYE NWANDIOLE 711. 5603 EZUGWU CHIDINMA LOVETH 791. 4910 HAAZORDOZ MERCHANT & TECH LTD 871. 8470 ILONWA KEVIN O 632. 7852 EKPERIGIN VALERIE OGECHI 712. 3617 FABIYI MICHAEL TAIWO 792. 6309 HABEEB HAJIA RAIHANATU 872. 5253 ILORI F. ADEYEMI EST. OF 633. 6294 EKPIKEN MAGNUS ETIM 713. 7897 FAD DATA CONSULT LIMITED 793. 8039 HABIB NAJIB MOHAMMED 873. 5531 ILORI F. ADEYEMI EST. OF 634. 4604 EKPO AUGUSTINE PAULINUS 714. 6648 FADAHUNSI OLUWOLE OLADIPUPO 794. 6704 HALLIDAY EMILIA 874. 697 ILUPEJU OLAJUMOKE ABIMBOLA 635. 4885 EKPO EDIMA BEN 715. 770 FADAYOMI MIKE 795. 8622 HAMISU GIDE 875. 788 ILUYOMADE IDOWU 636. 3424 EKUNDAYO MICHAEL OLU 716. 7453 FADEYI OYEDEJI 796. 4914 HANAFI ABDUL GANIY IBRAHEEM 876. 5861 IMAM AYUBA INDABAWA 637. 8607 EKWEALOR JOY UYO 717. 30 FADIORA OLUROTIMI JACOB 797. 5920 HARRISON KORIBO BENEBO 877. 5425 IMAM MARYAM ISA 638. 2439 EKWENSI CHIGOZIE DORIS JENNIFER 718. 4939 FADIPE TUNDE ABODUNRIN 798. 5608 HARUNA ANGO AMINU 878. 836 IMEH IMOH 639. 7098 EKWUGHA PATIENCE CHIAMAKA 719. 2484 FAGBAMIYE SEYE 799. 4803 HASSAN DANJARI 879. 485 IMP NOMINEE YRO 640. 5911 EKWUNIFE WISDOM OSITADINMA 720. 4943 FAJANA MOTUNRAYO 800. 6705 HASSAN FAUZZIYAH OLUWAKEMI 880. 6323 INYANG ESSIEN B. 641. 560 ELAIHO JEROME 721. 2488 FAJOBI OMOTOLANI 801. 6898 HASSAN NURUDEEN OLAWALE 881. 3393 INYANG ETIM QUEENETTE 642. 1741 ELAIHO OBI STELLA 722. 682 FAKOLADE TEMITAYO ONAOLAPO 802. 5919 HASSAN OLOLADE IDOWU 882. 2582 IRIOGBE THOMAS OMONZOKPIA 643. 153 ELAKAMA LANCE MUSA 723. 2492 FALAYE FOLUSO BAMIDELE 803. 4804 HASSAN SALISU 883. 1240 IROBI DAVID CHIKEZIRI 644. 8440 ELEGBEDE AMINAT OMOLOLADE 724. 5940 FALAYI TOMIKE 804. 4819 HASSANA IBRAHIM 884. 1239 IROBI NOBLE CHINENYE 645. 1242 ELELU BOLAJI RAFIU 725. 6839 FALAYI TOMIKE 805. 1382 HAVEN INVESTMENT & TRUST CO. 885. 5622 IROEGBU AUGUSTINE NDIDI 646. 4879 ELEMORO BABATUNDE 726. 4893 FALETI PHILIP OLUWOLE 806. 412 HIGHYIELD FUNDS MGT LTD 886. 7204 IROEGBU RUFINA AMECHI 647. 8441 ELI-TOYO & ASSOCIATE LIMITED 727. 2493 FALOWO TUBOSUN TOKUNBO 807. 6222 HOFLICH PATIENCE NORA 887. 8147 IROH IGIRI HOPE 648. 4632 ELOM HYGINUS FRIDAY NWENYI 728. 5432 FAMORITADE OLAYEMI 808. 1700 HUMURI TIMOTHY PWADA 888. 8138 IROKO IFEANYI CHUKWU 649. 3527 ELUEHIKE CELESTINE 729. 2495 FAMUREWA ABAYOMI 809. 6922 HUNDUGA AMOS KAZUGA 889. 5814 ISA DALHATU 650. 4186 ELUWOLE OLASUNKANMI ADEWALE 730. 8057 FARI IBRAHIM UMAR 810. 830 HYCON MILLENIUM A/C KAMSI 890. 2585 ISAAC KENNETH 651. 3261 EMEFIELE GODWIN IFEANYI 731. 773 FARODOYE OLAKUNLE JOHN 811. 831 HYCON MILLENIUM A/C KAOSI 891. 5411 ISAAC MONICA ANIETIE 652. 4814 EMEH CYNTHIA EZINNE 732. 1698 FAROTIKA TOPE EBENEZER 812. 832 HYCON MILLENIUM A/C MBACHU 892. 4824 ISAH ISYAKU 653. 4796 EMEH EDWARD IFEANYI 733. 6205 FAROTIMI DAVID OLABODE 813. 833 HYCON MILLENIUM A/C OMOTOLA 893. 5864 ISAH ISYAKU RABIU 654. 4790 EMEH VICTOR CHINOMSO 734. 829 FASHINA TEMITAYO 814. 834 HYCON MILLENIUM A/C PETER 894. 4806 ISAH MEDINAT SALIHU 655. 3326 EMGC NOMINEES 735. 2505 FATAYI WILLIAMS EYONO 815. 835 HYCON MILLENIUM SERVICES LTD 895. 4559 ISHOLA LATEEF TEMITOPE 656. 232 EMMANUEL INNOCENT MEBEI 736. 40 FATIREGUN IBIDUNNI 816. 8610 HYELDA LAWAL 896. 409 ISICHEI YVONNE UZO 657. 7388 EMMANUEL KINGSLEY EYINECHUKWU 737. 156 FATOBI FUNSHO 817. 5918 IBANGA ANDIKAN IME 897. 5880 ISMAIL SHEHU 658. 620 EMMANUEL OLUGBENGA OBISESAN 738. 4178 FATOKI LATEEFAT ABISOLA 818. 5308 IBEAWUCHI JOHNSON NWABUEZE 898. 3334 ISRANI KARINA 659. 5906 EMU FIDELIA OREVAOGHENE 739. 7851 FAWOLE OLUSOLA BABATUNDE 819. 4623 IBEGBU MICHAEL CHIMEZIE 899. 4080 ITEGBOJE SOLOMON 660. 1113 ENENDU MIKE OGBONNA 740. 6307 FEM INTERLINKS VENTURES 820. 6675 IBEH EBUKA EVERISTUS 900. 4079 ITF AJEDIRAN INIOLUWA OLUWAFEYISAYO 661. 8000 ENGINEERING INSPIRATION NIG. LTD. 741. 1133 FETLOCK NIGERI A LIMITED 821. 5327 IBEH IFEANYI CHINWENDU 901. 5549 ITODO PAUL DANIEL 662. 5905 ENITINWA MOBOLAJI OLUWATOSIN 742. 8454 FICM LTD 822. 3275 IBEKWE COLLINS OKWUCHUKWU 902. 6615 IWERIEBOR EHIEDU EMMNAUEL GOODLUCK 663. 249 ENO BAKHARE OGHOGHO YEWANDE 743. 3283 FIELDCO LTD 823. 6673 IBEKWE IFEOMA JUSTINA 903. 4076 IWU ODINAKA INNOCENT 664. 5412 ENUMA JOSEPH OBIEZE 744. 161 FIRST INLAND SECURITIES & ASSETS MGT LTD 824. 38 IBIDAPO-OBE OYEWUSI 904. 5256 IWUCHUKWU ANGELA EBERECHUKWU 665. 411 ENYINNAYA IVIE 745. 1655 FIRST TRUSTEES A/C BOLADE OJE 825. 1238 IBIDUNMOYE OLADIPO FOLUSO 905. 3373 IWUOHA MABEL 666. 6522 EQUERE MERCY NSEOBONG 746. 668 FIRST TRUSTEES A/C OKOLOCHA GILBERT 826. 3238 IBIOK OWOIDIGHE UDO 906. 5332 IYANDA AYODEJI EMMANUEL 667. 3408 EREZI AJIRI ROXY 747. 1630 FIRST TRUSTEES A/C OMOJOLA FOLA 827. 6121 IBOK MARY AFAHA 907. 1708 IYANDA TEMILOLUWA OGHENERUONA 668. 3405 EREZI JESUOVIE LOUIS 748. 1635 FIRST TRUSTEES A/C OMOJOLA TOLUWALASE 828. 7202 IBRAHEEM MUFUTAU AJISAFE 908. 1707 IYANDA TOLUWANI OGHENEOVO 669. 3595 ERIH DAVID JNR 749. 1641 FIRST TRUSTEES A/C OMOJOLA TOMI 829. 3505 IBRAHIM ASIYA MOHAMMED 909. 6622 IYILADE OLUREMI 670. 3594 ERIH ESEBOMA 750. 8627 FIRSTBANK/ENTERPRISE STOCKBROKERS -TRADG 830. 8613 IBRAHIM HAJIYA MARIAM 910. 789 IYORE CHARLES 671. 3592 ERIH OINE 751. 3236 FLOODGATE FIN. & SEC. LTD 831. 6645 IBRAHIM JOSEPH KAIGAMA 911. 4062 IZE-IYAMU FRANCIS 672. 3601 ERIH SANFORD A 752. 209 FLOORTEX WEST AFRICA LTD 832. 6928 IBRAHIM KAMARUDEEN OLATUNJI 912. 4071 IZUGHA CHINWE JACQUELINE 673. 3589 ERIH VANESSA 753. 1073 FOLA-ALADE ADEOLA REMILEKUN 833. 7160 IBRAHIM MUHAMMAD ILIYASU 913. 8471 JAMES EMEKA BABATUNDE 674. 3588 ERNEST JOHN & CO LTD 754. 8357 FRANK PAPILL NIGERIA LIMITED 834. 2544 IBRAHIM TAIWO 914. 6459 JASPER SAMUEL MSHELIA 675. 8445 EROMOSELE OSEMUDIAMEN EMMANUEL 755. 8455 FUBARA TEKENA A. 835. 4601 IBRAHIMMOHAMMED IBRAHIM 915. 6327 JEBODA SOJI 676. 5902 EROMOSELE OSEMUDIAMEN OLUWASHINA-AYOMI 756. 3311 G FOLAYAN 836. 7870 IDELE KENNETH 916. 6134 JEGEDE ADEMOLA ANTHONY 677. 4343 ESARA JAMES 757. 3331 G. Q. SARITAN VENTURES LTD. 837. 5325 IDLOWU OLUFEMI OMOLOLU 917. 8472 JEJE MICHAEL OLUSOLA 678. 4859 ESSANG ETIM OKON 758. 5583 GALADANCHI HASSAN SHEHU 838. 6811 IDOKO FAITH AISHETU 918. 6221 JIBRIL ABDURRAHMAN HASSAN 679. 4342 ESSANGENYI EDET EDET 759. 4743 GALADIMA FATI BABA 839. 4218 IDONIBOYE INYE B. 919. 2599 JOE-NWAGBO JASON CHINEDU 680. 5586 ESSIEN EKAETTE MERCY 760. 3501 GAMBO AHMAD SULAIMAN 840. 6654 IDOWU ADEDAYO OLUSEUN 920. 7790 JOGUNOMI RAFIU LASISI 681. 1194 ESSIEN ROSEMARY 761. 7988 GANI ALHASSAN MOHAMMAD 841. 1505 IDOWU OLAWALE EMMANUEL 921. 4068 JOHN NGOZI EMENIKE 682. 15 ESTATE OF ASALU AKINTUNDE 762. 5365 GANIYU BOLANLE FUNMILAYO 842. 155 IDOWU YINKA 922. 4067 JOHN OLADEJI VICTOR 683. 7166 ESUMEH CHRISTOPHER IZU 763. 8337 GANIYU SAHEED OYETUNDE 843. 5887 IDRIS AHMED 923. 8267 JOHNSON A MARGARET 684. 4921 ETSIAME CECILIA 764. 4332 GANIYU-RAMONI SADIAT OYENIKE 844. 8466 IDUKPAYE IKPONMWOSA 924. 8474 JOHNSON IDOWU TANIMOWO 685. 5628 ETSIAME CECILIA 765. 5735 GARBA HAUWA 845. 4264 IFEANYI AMAECHI DILLIBE 925. 573 JONAH UKAIBE 686. 2458 ETTE ENE IKPONG 766. 5863 GARBA SALISU KABUGA 846. 3576 IFEYEWA CLUB OF NIGERIA 926. 2607 JOOJI TOR 687. 5495 ETUK AKANINYENE ETIM 767. 7396 GBADEGESIN MUTALIB OLAKUNLE 847. 6450 IFUKWU UJU OGONNA 927. 8475 JOSEPH JAMES 688. 3546 EVO NNANA SAMSON 768. 7447 GBAFE RICHARD ABOLARINWA 848. 3262 IGBINAKENZUA EBOIGBE ELIAS 928. 974 JOSHUA INVESTMENTS LIMITED
49 Hope springs eternal
Account Account Account Account No Name No Name No Name No Name 929. 6880 JOSIAH DANIEL 1009. 2678 MAKINDE JOSEPHINE TEMITOPE 1089. 2782 MR OGUNLESI FOLA 1169. 5652 NWOBA EMMANUEL NWACHUKWU 930. 7237 JUBRIL AMINU BABATUNDE 1010. 8040 MALAM SANI HADIZA 1090. 2786 MR OJENGBEDE ADESINA DAVID 1170. 7956 NWODOH IKECHUKWU LIVINUS 931. 5550 JULIUS IBITAYO 1011. 5674 MALLAMI BUKAR MOHAMMED 1091. 2788 MR OKEOWO GBOLADE OLUSEYI 1171. 7786 NWOKEAFOR MICHAEL CHILEZIE 932. 2610 JUNAID OLUFUNKE ADEBIMPE 1012. 8694 MALOMO FLORENCE IDOWU FOLASHADE 1092. 2789 MR OKI GODDY OGHENESEDE 1172. 1720 NWOKOCHA GEORGE 933. 4065 JUNAID SIKIRU AREMU KASHIMAWO 1013. 7230 MALOMO OLAYINKA SAMUEL 1093. 3320 MR OLANIRAN YAYA ADISA & MRS OLANIRAN REGINA MONILOLA 1173. 6115 NWOKOLO STELLA 934. 2611 K&F CONSULT LIMITED 1014. 793 MAMAH NDUKAH NELSON 1094. 3284 MR OLUMARTINS KAYODE 1174. 5574 NWORAH ARINZE KINGSLEY 935. 6953 KADIRI ABEL 1015. 7937 MARIMPEX FIN & INVESTMENT 2 1095. 2793 MR OLUYEMI OLAWALE DAVID 1175. 5819 NWORDU MARTINA ENUMA 936. 6686 KADIRI PATRICK AIGHUPUE 1016. 6777 MARTINS BABATUNDE OLADIPO (JUSTICE) 1096. 2800 MR SHAIBU SULEIMAN 1176. 6116 NWOSE THOMPSON CHUKWUDI 937. 46 KADIRI YUSUF 1017. 7228 MARYMOND INVESTMENTS LTD 1097. 3244 MR SULAIMAN TASIU KOLAWOLE 1177. 6494 NWOSU AZUKA PEACE 938. 1363 KAJOPAIYE ADERONKE ADEOLA 1018. 3437 MARY’S GROTTO FELLOWSHIP (M.G.F.) 1098. 2804 MR UMUKORO UFUOMA EDIRI 1178. 4635 NWOSU CATHERINE 939. 652 KALE ADEDAYO ADEBOLA 1019. 1592 MAXIMUM DATA LIMITED 1099. 2809 MR/MRS DATONG ISHAKU/COMFORT 1179. 5315 NWOSU CHIJIOKE JUSTIN 940. 5247 KALU BLESSING 1020. 5535 MAYALEEKE IBRAHIM ADEROGBA 1100. 1848 MRS ABERE REMILEKUN 1180. 8305 NWOSU CHIKODI 941. 2621 KANU DONALD 1021. 842 MBACHU EBERECHUKWU PETER 1101. 2815 MRS AGBEDAHUNSI ANNE ABIMBOLA 1181. 7774 NWOSUOCHA PATRICK ONYEMA 942. 5268 KANU SILAS ONWUCHEKWA 1022. 2686 MBADIWE AIRA 1102. 2823 MRS JOHNSON FADERERA OLUREMI 1182. 7754 NWOYE EUNICE UCHE 943. 7948 KANU UCHECHUKWU ONYENAPURUIBEYA 1023. 8484 MBAEGBU JULIANA CHIKA 1103. 2825 MRS OGUNLESI ELIZABETH 1183. 8496 NZEWUIHE IKECHUKWU KELECHI 944. 8270 KAREEM SAHEED 1024. 1791 MBAGWU ADAEZE NGOZICHUKWU 1104. 2826 MRS OKEOWO MODUPE ABIOLA 1184. 5317 OBA NWAKAEGO AGATHA 945. 4769 KAWU PETO ABDULKAREEM 1025. 1787 MBAGWU ADINDU IKEMEFUNA 1105. 2830 MRS OLOPADE CATHERINE 1185. 8323 OBABOLUJO ABAYOMI 946. 5352 KAYODE RICHARD 1026. 1790 MBAGWU CHUKWUEMEKA IKEMEFUNA 1106. 2831 MRS ORIOLA EUNICE ADUKE 1186. 7921 OBAFEMI O. OLANREWAJU KAYODE 947. 2634 KEHINDE DAVID OLALEYE 1027. 1789 MBAGWU NWAMAKA NKECHINYERE 1107. 2832 MRS OWOLABI ROSAMOND IBIRONKE 1187. 5319 OBAKOYA OLUFEMI OLUSEYI 948. 4013 KELECHI ANYANWU 1028. 1788 MBAGWU UCHENNA FELICIA 1108. 4026 MUDASHIRU WAIDI KAYODE 1188. 6586 OBANOYEN NUSI OLADUNNI 949. 2636 KEMI MOMOH 1029. 7993 MBAHAOTU CHIMA HENRY 1109. 8488 MUHAMMAD IBRAHIM ALHAJI 1189. 8311 OBASANYA JOSEPHINE KEHINDE 950. 47 KING PRODUCTS AND SOLUTION LTD 1030. 2690 MEDUGU ZAKARI JOSHUA 1110. 4230 MUHAMMAD TIJJANI 1190. 5320 OBASEKI JEREMIAH 951. 2639 KINGSLEY NWABUEZE KENECHUKWU 1031. 4037 MENE ESTHER USIMEN 1111. 4810 MUHAMMED FATIMA. 1191. 6662 OBASI ROYAL OBIOMA 952. 2640 KIRPSON OBINNA FC 1032. 6108 MENSHA SAMUEL KWAME 1112. 7000 MUHAMMED RAHMATU 1192. 1268 OBEMBE OLAWALE 953. 6697 KOKORIAN JALOGHO JOSEPH AKPO 1033. 5689 MESELE OLAMIDE OREOLUWA FOLASADE 1113. 1148 MUILI FAOSAT ADETUTU 1193. 4546 OBI CHUKWUMA JASPER 954. 7408 KOLADE OMONIYI 1034. 4877 MESELE OLUFEMI LAWRENCE 1114. 7085 MUOBIKE NGOZI FIDELIA 1194. 3277 OBI NDIBE 955. 5430 KOLA-OLALERE ESTHER KIKELOMO 1035. 4288 METCHO MUHAMMAD UMAR 1115. 1743 MUODUMOGU CHINWE ANTHONIA 1195. 5323 OBI VIVIAN ADA 956. 5276 KOLAWOLE JONATHAN FUNSO 1036. 2699 MGBECHETA SAMUEL NTOMCHUKWU 1116. 3380 MUOGHALU OBIORA NONSO 1196. 4109 OBIAGWU SAMUEL CHUKWUMA 957. 2642 KOLE-JAMES IFEOMA 1037. 2700 MGBECHETA STANLEY NNAEZIE 1117. 7797 MUSA AHMED BABANGIDA 1197. 4540 OBIAHU JOHN ARUA 958. 6334 KOMOLAFE ORIYOMI ADEYEMI 1038. 796 MIBIOLA SIMON 1118. 7902 MUSA BABATUNDE AHMED 1198. 350 OBIAKOR DENIS 959. 3327 KONAC INDUSTRIES LTD 1039. 7995 MICHAEL PETER OGHENEORUNO 1119. 4765 MUSA YERIMA BELLO 1199. 6107 OBIDIGBO SUNDAY SAMUEL 960. 7994 KPEREGBEYI OLA N. 1040. 7235 MIKETONAL GLOBAL CONCEPT LIMITED 1120. 7903 MUSA YEWANDE HALIMAT 1200. 8701 OBIECHINA ZITA CHIOMA 961. 4511 KUFILE YINKA 1041. 2704 MISS AKEREDOLU OMOBOLANLE 1121. 6348 MUSA YUSUF ALIYU 1201. 4096 OBIKWERE JOY JUSTINA 962. 5275 KUFILE YINKA 1042. 2708 MISS OKEOWO MODUPE IBUKUNOLUWA 1122. 5213 MUSTAPHA ABDULLAHI TAGOJE 1202. 8313 OBIOHA CHIGOZIE INNOCENT 963. 2646 KULANDAI SAMY VELANI 1043. 2709 MISS OKEOWO OLAYINKA OLUWATOYIN 1123. 7440 MUSTAPHA AUDU 1203. 5326 OBIORA EDWARD OBINNA 964. 5702 KUMBIYA KUMBIYA ADAMU ABDULLAHI 1044. 2711 MISS OSINOWO FOLAJOMI OPEOLUWA 1124. 5892 MUSTAPHA NURENI OLAIYA 1204. 59 OBIORA IBE 965. 5348 KUPONIYI OLUGBENGA TEMITOPE 1045. 880 MODULOW NIGERIA LIMITED 1125. 1475 MUSTAPHA OLAREWAJU SHITTU 1205. 6164 OBIRE E. GLORY 966. 4180 KUPONIYI OPEYEMI TEMITOLA 1046. 6679 MOHAMMED BASHARI 1126. 6801 MUSTAPHA RILWAN OLADIMEJI 1206. 8502 OBISANYA FUNMILAYO OMOLARA 967. 5449 KURFI RABI ADO 1047. 6500 MOHAMMED HABIBU SABARI 1127. 56 NDALOLO AMINAT 1207. 8702 OCHAYI ELIZABETH EHIKOWOICHO 968. 7323 KURIOS NIGERIA LTD 1048. 6498 MOHAMMED HALIDU 1128. 7397 NDUKA NWADIKE ABEL 1208. 6939 ODE FOLASHADE 969. 1030 KUTI KAYODE 1049. 6689 MOHAMMED IBRAHIM DOTTIJO 1129. 3382 NDUKWE GODWIN CHIBUEZE 1209. 8314 ODEGBAMI HARRISON OLADELE 970. 979 KUTI KAYODE 1050. 6813 MOHAMMED LAWAN 1130. 5298 NDUKWU ANNA KATE 1210. 2901 ODEGBAMI OLUWATOYIN ODEGBAMI IFEOLUWA & OTHERS (ADMORS TO THE ESTATE OF ODEGBAMI OLATUNJI ABIODUN ) 971. 3332 L.A.PRO-SHARES LTD. 1051. 8601 MOHAMMED MAIMUNA 1131. 3292 NEXT INTER’L LTD. 1211. 4100 ODEJIMI OLUTOSIN 972. 552 LADIPO KOLA JAMES 1052. 2715 MOHAMMED SALIU 1132. 631 NGWABA (DR) MAURICE CHIKE 1212. 2905 ODIELIH CHUKWUDI CHINEDUM 973. 3258 LAND OF PLENTY 1053. 5513 MOHAMMED SANI FATIMA 1133. 6352 NIGERIAN INTER. SEC-TRADED-STOCK-A/C 1213. 577 ODIETE UDUMA JUSTINA 974. 5274 LA’TEMMAC GLOBAL RESOURCES LTD. 1054. 5238 MOK EMMANUEL IFEANYI 1134. 5235 NJEPU AUGUSTINE NNAEDOZIE 1214. 4097 ODINDE DUKE CHUKUDI 975. 8277 LATIMORE VENTURES 1055. 4491 MOLTEN TRUST LIMITED-DEPOSIT ACCOUNT 1135. 6112 NJOKU EUNICE CHIOMA 1215. 8503 ODIONYE AMARACHI 976. 4838 LAWAL ARIYO NURUDEEN 1056. 8487 MOMOH KABIRU 1136. 3376 NKACHUKWU OZOEMENAM EMMANUEL 1216. 8602 ODOGE EMMANUEL OMALE 977. 7162 LAWAL FUNMILAYO IGE 1057. 2718 MONICA A 1137. 4018 NNAEBUE CHINWENDU EDITH 1217. 2909 ODOH ROBERT IHEANYICHUKWU 978. 8618 LAWAL HYELDA 1058. 4494 MORAKINYO OLUWADUROTIMI HEZEKIAH A. 1138. 4248 NNAMANI STANLEY OKONKWO 1218. 6585 ODUGBESAN IBUKUN SONAIKE 979. 3995 LAWAL ISIAKA OLATUNDE 1059. 5418 MOSES MICHAEL OSCAR 1139. 1422 NOFSON NIGERIA LIMITED 1219. 7715 ODUKOYA ABAYOMI 980. 5265 LAWAL OMOLOLA O. 1060. 5419 MOSES TOMBARI B. 1140. 290 NORTH CENTRAL 1220. 7122 ODUKOYA OLALEKAN YESIRU 981. 2653 LAWAL SILIFAT IYABO 1061. 8338 MOSURO FOLARIN 1141. 4668 NTUI IYA 1221. 5825 ODUMESI JOHN OLAYEMI 982. 6638 LAWAL WAHEED MOLADE 1062. 6345 MOYO-FALAYI MOFIYINFOLUWA EMMANUEL 1142. 1006 NURUDEEN-AHMED MUSILIU ALABA 1222. 5446 ODUNAIKE OLADAYO OLUFUNMI 983. 6636 LAWANI OLUDAMILOLA IBISOMI 1063. 6346 MOYO-FALAYI MOFOGOFOLUWA 1143. 4116 NWACHUKWU BENSON OKEYCHUKWU 1223. 2914 ODUNAIYA OMOYOSOLA 984. 2656 LEMORU OLATUNBOSUN O. 1064. 8695 MPAMAUGO CHIDIEBERE DAVID 1144. 627 NWACHUKWU CHINELO NGOZI 1224. 5389 ODUNLAMI SAMSON ADENIYI 985. 2657 LEMORU OLUWAFEMI 1065. 2720 MR & MRS AKINDELE FESTUS & OLUREMI 1145. 4117 NWACHUKWU JUDE CHIBUZOR 1225. 6359 ODUNTAN LANRE HASSAN 986. 1109 LEWIS-ASONYE OBINNA 1066. 2723 MR ADARUGO OKEZI 1146. 632 NWACHUKWU NKECHI ENYIDIYA 1226. 6587 ODUNUGA OLUKEMI AFOLASADE 987. 7234 LIASU QUADRY OLUWASEUN 1067. 3314 MR ADEGBITE SAMUEL IGBAYILOLA 1147. 4118 NWAEME TEMITOPE OWOWUNMI 1227. 2915 ODURUKWE FINECOUNTRY E. U. 988. 7474 LIKEMINDS BUSINESS SOLUTION LIMITED 1068. 2727 MR ADEMOLU OLUFEMI 1148. 5669 NWAFOR FRANCISCA CHIDALU 1228. 2916 ODURUKWE OLUWATOSIN ESTHER 989. 52 LOGILE IDOWU 1069. 2728 MR ADENIYI OLUSEGUN AYODELE 1149. 8686 NWAFOR OMOYEMI ADERIKE 1229. 6360 ODUSANYA ODUFUNMILAYO OLUWAKEMI 990. 7047 LONGE ADETOUN 1070. 2730 MR ADENUPEBI ADEBAYO CLEMENT 1150. 7832 NWAFOR PETER JACOB 1230. 4098 ODUSANYA OLUFUNMILAYO ADESHOLA 991. 8478 MACPRINCE ELIJAH A. 1071. 2731 MR ADEOSUN KAYODE LUCAS 1151. 8053 NWAGBALI MICHAEL CHIBUZO 1231. 63 ODUSANYA RUFUS OLUKAYODE 992. 6874 MADAKI JOHN YAHAYA 1072. 2738 MR AGUNBIADE DAWUD ADEBAYO 1152. 4136 NWAGBO EMMANUEL E. 1232. 6155 ODUSINA OLAYINKA S 993. 6635 MADU EBUBECHUKWU JOSEPH 1073. 2739 MR AINA AYOTUNDE AYINDE 1153. 4717 NWAGUGU BASIL OKUBASAR 1233. 2921 ODUTOLA ADELANA 994. 6338 MADU EMMANUEL IFEANYI 1074. 2742 MR AKINOLA MARTINS KOLAWOLE 1154. 3347 NWAIGBO ONYEBUCHI 1234. 1013 ODUTOLA OLUFUNKE 995. 5690 MADU PATRICK OBUNIKE 1075. 2743 MR AKINYEMI STEPHEN OLATUNJI 1155. 4771 NWAIWU CHIMAOBI UCHECHUKWU 1235. 4132 ODUYEBO NURUDEEN ALOWONLE 996. 6798 MAFIANA CHIEDU FELIX 1076. 2748 MR ANYAELE SAMUEL TIMOTHY 1156. 367 NWAKOGO PATRICK EKENE 1236. 6154 ODUYIGA JOSHUA KOLAWOLE 997. 2668 MAFIMIDIWO ADENIYI BAMIDELE 1077. 3264 MR AYENI KAYODE 1157. 3351 NWAKUDO ANAYO STANLEY 1237. 7430 OFFEH BLESSING 998. 3336 MAGENTA ASSOCIATES NIG. LTD. 1078. 2749 MR BOLAJI JOSEPH DAPO 1158. 2874 NWANERI CHINOMSO VICTORIA 1238. 6143 OFFOR ANGELA IFEYINWA 999. 6660 MAHAMUD HAMZA SALIHU 1079. 2753 MR EDU MUZZAMMIL OLUWASIJIBOMI 1159. 7450 NWANKWO OBINNA CHARLES 1239. 564 OFI AYODELE OLUFEMI 1000. 6341 MAHMUD SHEHU 1080. 2758 MR ESSIEN DOMINIC 1160. 238 NWANKWO OKECHUKWU JEREMIAH 1240. 6873 OFILI ONYEKA UCHE 1001. 8480 MAIGARI MOHAMMED MODIBBO 1081. 2762 MR IBIKUNLE AZEEZ OLAYINKA 1161. 5310 NWAOBI UWADIMEGWU 1241. 7435 OFOMATA NKEMJIKA GLADYS 1002. 4763 MAIMUNA MOHAMMED HARUNA 1082. 2763 MR IBITOWA NATHANIEL 1162. 5483 NWAOHA CHINEDU ANGELA 1242. 1723 OFO-MUOGBO EDNAH ADAOBI ODUMCHEFU 1003. 2672 MAIRO OKHAI 1083. 2768 MR IGBOANUGO OSITA HYGINUS 1163. 8597 NWAOKACHA EMMANUEL 1243. 7666 OFOR ODINAKA BRIGHT 1004. 4493 MAJA OLAWALE MURTALA 1084. 2772 MR KOYEJO ADEYEMI 1164. 4512 NWEKE DAMIAN OKECHUKWU 1244. 7899 OFOR ODINAKA BRIGHT 1005. 2674 MAKANJUOLA ADEBISI NURAT 1085. 2773 MR LASHORE STEPHEN IBITAYO 1165. 4639 NWEKE GRACE OBIAGELI 1245. 6846 OFUOKWU CHUKWUDI JOHN 1006. 2675 MAKANJUOLA BABATUNDE RAHMON 1086. 2774 MR MADAMIDOLA AYINLA BASHIR 1166. 5312 NWEKE MADUKA JAMES 1246. 160 OGBEIDE BERNADETTE 1007. 2676 MAKANJUOLA OLADAPO 1087. 2775 MR MICHAEL PRINCE UGO 1167. 4785 NWEZE EMMANUEL 1247. 4224 OGBENI KINSLEY I. 1008. 6103 MAKINDE AZEEZ ADENIYI 1088. 2777 MR NKEMERE OBIDIKE CHIMEZIE 1168. 1719 NWIGWE MARIA ONYEMA 1248. 2930 OGBONNIA-OKOYE ARINZE
50 Chams PLC 2011 Annual Report
Account Account Account Account No Name No Name No Name No Name 1249. 4772 OGBUEHI IHEANYI O. 1329. 8210 OKESON PAUL NWORA 1409. 3833 OLANREWAJU OLUGBENGA SEUN 1489. 8192 OMOTOYE OYENIRAN ADEWALE 1250. 3427 OGBUJIEZE ANSLEM-ZIXTON OKECHUKWU 1330. 6606 OKI HAMZAT DAMILOLA 1410. 8668 OLANREWAJU ORITOMI 1490. 6667 OMOYELE OLABAMBO 1251. 65 OGEDENGBE MICHAEL FOLORUNSHO 1331. 3898 OKOAKIH AWELE ABISOLA 1411. 3043 OLANREWAJU SHEKONI 1491. 1494 ONABAJO LILY OLUBUKOLA 1252. 6148 OGHALI CHUKWUKA CHUKS 1332. 7798 OKOCHA CHRISTIAN CHUKWUELOKE 1412. 3044 OLAOJO BABATUNDE FEMI 1492. 8543 ONABAJO OLUWASEUN EMMANUEL 1253. 5279 OGIDIOLU ADEGBENRO 1333. 8252 OKOCHA CHRISTIAN CHUKWUELOKE 1413. 6032 OLAOYE REUBEN AYOTUNDE 1493. 3117 ONABOWALE OLADIPO 1254. 4548 OGIDIOLU ADEKANMI 1334. 6371 OKOEGUALE ELOMHENSEBHOR GLADYS 1414. 3048 OLAREWAJU OLAKUNLE YEMI 1494. 227 ONAGORUWA OBAFEMI ONARIKE 1255. 5299 OGIDIOLU ADEKANMI 1335. 5602 OKOGWU JOSEPH NWABUAKU 1415. 810 OLARINDE ADETAYO RAHMAN 1495. 6387 ONAH STANLEY CHIDIMMA 1256. 4122 OGIEVA VINCENT SUNDAY 1336. 3377 OKOLI CHINEDU FRANCISCA 1416. 4150 OLASENI OLUWATOSIN SOLA 1496. 5066 ONATADE ELIZABETH TOSIN 1257. 4734 OGIKE CHIBUZO J. 1337. 3897 OKOLOKO EBRUBA JOHN 1417. 6077 OLATERU FOLASHADE ENITAN 1497. 75 ONI BABATUNDE 1258. 4725 OGIKE TOCHI XAVIER 1338. 5463 OKON CLEMENT EFFIONG 1418. 6045 OLATERU OLUWASEYE SAMSON MAYOWA 1498. 890 ONI FUNMILAYO TEMITOPE 1259. 4114 OGINNI AYODELE NATHANIEL 1339. 3012 OKON EDIDIONG RACHAEL 1419. 3249 OLATUNBODE ADEDAYO 1499. 6016 ONI MOSOBALAJE YUSUFF 1260. 5342 OGINNI OLUWASEUN & FAMUBO O. 1340. 3257 OKON IDORENYIN ANDREW 1420. 8669 OLATUNJI FEMI 1500. 6580 ONI OLUGBENGA OLAKITAN 1261. 182 OGINNI OLUWATOYIN AJAO 1341. 6943 OKON INNOCENT ETIM 1421. 5568 OLATUNJI OLUSOGO TUNDE 1501. 4147 ONI OLUWASEUN ISAAC 1262. 66 OGODO MICHEAL 1342. 3013 OKON JEREMIAH 1422. 6382 OLAWALE ISAAC WALE-AWE 1502. 3123 ONIFADE BABATUNDE BIYI 1263. 5665 OGU AMARACHUKWU FIDELIS 1343. 6033 OKONKWO ABUMCHUKWU 1423. 3828 OLAWALE OLALEKAN TAIWO 1503. 5793 ONIOVO JOSIAH 1264. 7858 OGUADINMA EMMANUEL ONUDINACHUKWU 1344. 6786 OKONKWO FRANCIS OBALUM 1424. 4533 OLAWEPO MATTHEW KUNLE 1504. 3250 ONIRU TIJANI 1265. 4112 OGUEZUMA JACK DONATUS 1345. 4609 OKONKWO IFEYINWA PROSPER 1425. 3815 OLAWUYI OLUSEGUN MICHAEL 1505. 4608 ONOCHIE ESTHER IJEOMA 1266. 5834 OGUNBADEJO ABOSEDE ADETOUN 1346. 5612 OKONKWO IFEYINWA PROSPER 1426. 6046 OLAYANJU TUNDE TIMOTHY 1506. 6019 ONOMASE OZIEOGHEKET CHRIS 1267. 5302 OGUNBADEJO BUKOLA ADIJAT 1347. 8516 OKONKWO IKECHUKWU CHUKWUEMEKA 1427. 7088 OLAYINKA JANET FADEKE 1507. 3846 ONOWUGBEDA JOSEPH 1268. 6780 OGUNBANJO OLUFISAN ADEMOLA 1348. 6373 OKONKWO LINUS ODINAKA 1428. 3310 OLAYINKA OLANIPEKUN M. 1508. 8545 ONU LETICIA IFEYINWA 1269. 8706 OGUNBANJO OLUWAGBEMISOLA ADEDIWURA 1349. 8215 OKONKWO PRINCEMARIO AZUBIKE 1429. 7991 OLIKAGU CHIBUEZE ANTHONY 1509. 4710 ONU PAUL CHIDIEBERE 1270. 1622 OGUNBIYI ADESOJI 1350. 586 OKORIE ANSELM 1430. 5131 OLISA CHIGOZIE SAMUEL 1510. 3126 ONUEGBU GODWIN 1271. 4551 OGUNBUKOLA MATTHEW OLUSEGUN 1351. 5631 OKORIE BENJAMIN 1431. 71 OLOKETUYI OLANIYI SEGUN 1511. 3127 ONUMA KALU KALU 1272. 5300 OGUNDELE OLUBUNMI ADEJOKE 1352. 4610 OKORIE JOHNSON EZINWANNE 1432. 1424 OLORUNFEMI OLUSEGUN 1512. 1114 ONUMAJURU AUGUSTINE ONYEKACHI 1273. 252 OGUNDERO IYABOSOLA 1353. 6604 OKORIENTA MADUABUCHI STEPHEN 1433. 3065 OLORUNFEMI OLUSIMBO 1513. 6393 ONUNWA OLUCHI GIFT 1274. 964 OGUNDERO OLUFOLAKE 1354. 3402 OKORO AUGUSTINE EZE 1434. 8670 OLORUNNISOLA JOHN ADEKANMI 1514. 8546 ONUOHA DORATHY AMUCHE 1275. 3321 OGUNDERO OLUMIDE ADEMOLA 1355. 5407 OKORO SAMUEL UGOCHUKWU 1435. 1368 OLORUNSUYI KHAFILAT 1515. 7950 ONUOHA NGOZI THERESA 1276. 6935 OGUNDIMU GABRIEL OLASENI 1356. 8218 OKOROAFOR CHIKE SOPURUCHI 1436. 1369 OLORUNSUYI OPEMIPO 1516. 4607 ONUORAH NKIRU NKECHI 1277. 4213 OGUNGBE JIJOHO AYOSUNMOLE 1357. 8517 OKOROZE EDHEKA JOSHUA 1437. 8536 OLORUNTOBA OLUSHOLA FOLORUNSHO 1517. 3131 ONWUAKPA CHIBUGOM CHIEMERIE 1278. 6153 OGUNGBESAN DARE EMMANUEL 1358. 3019 OKOYE AMAKA STELLA C/O NWAGBO J. 1438. 6791 OLORUNTOLA EDWARD TOKUNBO 1518. 1774 ONWUBIKO UCHENNA KINGSLEY 1279. 5454 OGUNGBESAN OLUWAFEMI SAMUEL 1359. 8519 OKOYE COSMOS AKACHUKWU 1439. 6946 OLORUNTOLA FUNMILAYO FAUSAT 1519. 698 ONWUCHURUBA OKECHUKWU THEOPHILUS 1280. 5295 OGUNJIMI ALABI LOOKMAN 1360. 7973 OKOYE COSMOS PATRICK 1440. 6466 OLOWOGORIOYE VICTOR 1520. 6926 ONWUDIANTI EMENIKE 1281. 5286 OGUNJIMI TENIOLA 1361. 4249 OKOYE IFEANACHO KIZITO 1441. 4536 OLOWOJOLU CHRIS ADEBAYO 1521. 817 ONWUDIWE JANET AJUMA 1282. 2951 OGUNKO TOLUTOPE BRENDA 1362. 7975 OKPALA JOHN CHUKWUEMEKA 1442. 3067 OLOWO-OKERE MOPELOLA OMOYENI 1522. 5620 ONWUKA CHINEDU CHRISTOPHER 1283. 2952 OGUNKOYA OLUSANYA TAIWO 1363. 3021 OKPALA OBIJEKWU E 1443. 6947 OLOWOOKERE TAWAKALITU A 1523. 4615 ONYEBUCHI JUSTINA NNENNA 1284. 5283 OGUNLEYE ABODUNRIN CATHERINE 1364. 363 OKPALAOKA CHUKWUEMEKA NKEMAKONAM 1444. 8537 OLOWOSUKO OLUBUSOLA OMOWAARE 1524. 5594 ONYEBUCHI JUSTINA NNENNA 1285. 1169 OGUNLEYE TOSIN 1365. 8523 OKPARA OBIOMA IKECHUKWU 1445. 6792 OLOYEDE ADELOLA JOHN 1525. 3134 ONYECHE CHIOMA CHINEDU 1286. 3873 OGUNNUBI ROBERTS 1366. 8524 OKPARA SUSAN CHIGOROM 1446. 693 OLUBA JUDE CHUKWUEMEKA 1526. 6024 ONYEGBULE UZOMA 1287. 6936 OGUNREMI ABIGEAL ANIKE 1367. 8525 OKPARAJI PETER REVERAND 1447. 3819 OLUBAJO TEMITOPE OLUTOTIN 1527. 3842 ONYEJELEM HENRY ONYINYE 1288. 4566 OGUNSOLU ALEXANDER OLUYEMI 1368. 5095 OKPE UCHENNA MARTIN 1448. 811 OLUBODE DEJI 1528. 3136 ONYEJIAKA CAROL NNEOMA 1289. 2957 OGUNTIMEHIN JOHN OLAWALE 1369. 3891 OKPETUE CHUKWUDI 1449. 5581 OLUBORI OLUBUNMI OLUWASEUN 1529. 3137 ONYEJIAKA CHIBUZO 1290. 1241 OGUNTOYINBO OLAMIDE MICHAEL 1370. 894 OKUDOLO TOLULOPE 1450. 4185 OLUBUNMI BABATUNDE GBADEBO 1530. 3140 ONYEJIAKA DEBORA 1291. 8205 OGUNWOYE SILAS MAYOWA 1371. 8720 OKUNGADE MOROLAYO ABIKE 1451. 5624 OLUDOTUN KOLAWOLE TIMOTHY 1531. 3141 ONYEJIAKA DESTINY 1292. 8509 OHAKWE CHINEDU FIDEL 1372. 5443 OKUNLOLA RACHEL ARINOLA 1452. 3456 OLUMEKO DESTINY OLANIYI 1532. 3142 ONYEJIAKA EKEOMA 1293. 6823 OHAZURUME SUNDAY MICHAEL 1373. 8527 OKWARA HADASSAH NGOZI 1453. 3461 OLUNIYI OLAWUMI OLANIYI 1533. 3144 ONYEJIAKA OKEY 1294. 7048 OHUNENESE JOHN 1374. 5606 OKWUACHI BEN-BENSON NWAZE 1454. 5065 OLUNOWO KOFOWOROLA AMUDAT 1534. 5087 ONYEKE SUNDAY 1295. 2962 OIGBOCHIE LARRY 1375. 8529 OKWUOSA CHUKWUNOSO 1455. 814 OLUOKUN AYO 1535. 3841 ONYEMA SUNNY AZUBUIKE 1296. 6367 OJEI FAITH NGOZI 1376. 6601 OLABODE FUNMILOLA 1456. 8606 OLURODE ADELAYO SHERIFAT 1536. 7128 ONYEMAOBI CHINYERE PATIENCE 1297. 2969 OJELEYE BOLANLE ADEJOKE 1377. 4146 OLADAPO OLANIYI JOSHUA 1457. 8327 OLUSEGUN OLAWALE OLUDARE 1537. 6933 ONYEMATA CHARLES ENYINNAYA 1298. 2975 OJO ADEPEJU ADEBISI 1378. 6379 OLADAPO OLUWASEUN TEMITOPE 1458. 74 OLUSOLA OMOTAYO 1538. 1768 ONYIA CHUKWUBUIKEM 1299. 2977 OJO BLESSING OMOTAYO 1379. 4145 OLADELE AKEEM OLATUNBOSUN 1459. 6484 OLU-TIMA TAMUNO OLUMIDE 1539. 5496 ONYUTE ADAM FELIX 1300. 7438 OJO EMMANUEL OLUYINKA 1380. 4179 OLADELE BISOLA YEMISI 2 1460. 6756 OLUWABIYI INIOLUWA WHITNEY 1540. 6026 OPADIRAN DANIEL ADEFEMI 1301. 2982 OJO FRANCIS 1381. 3031 OLADELE OLORUNFEMI THEOPHILUS 1461. 6745 OLUWABIYI OLUWAFUNMILAYO OPEYEMI 1541. 6027 OPADIRAN ISAAC OLUFISAYO 1302. 4565 OJO MICHEAL AKINWALE 1382. 6188 OLADEPO MONSURAT BOLAJI 1462. 7890 OLUWAGBEMIGUN ADENIKE ELIZABETH 1542. 6028 OPADIRAN MARY OLAMIDE 1303. 8512 OJO ROTIMI RIYELE 1383. 4528 OLADIMEJI MERCY 1463. 5367 OLUWARANTI ADEDUNMOLA OLUWASEUN 1543. 6029 OPADIRAN OLADAPO OLAOLUWA 1304. 6938 OJO SUNDAY OLUWABAMISE 1384. 4203 OLADIMEJI RILWAN ATANDA 1464. 5062 OLUWUNMI IFEOLUWA ELIZABETH 1544. 8354 OPARA CHIMA JOSIAH 1305. 2985 OJOAGO OGUCHE 1385. 5126 OLADIPO IBRAHIM OLANREWAJU 1465. 8539 OLUYADE JANET ADEYINKA 1545. 3148 OPARA GERTRUDE EBERECHUKWU 1306. 5108 OJOMO OLAYIWOLA JOLADE 1386. 882 OLADIPO MATINA AJIBADE 1466. 6043 OLUYORI OLUWAGBEMI DAVID 1546. 5845 OPARA KENNETH & OLUCHI (MR & MRS) 1307. 2986 OJONIMI ANEDU 1387. 5125 OLADIPO MUSBAU OLAYIWOLA 1467. 4439 OMAKA EMMANUEL N. 1547. 1279 OPEGBEMI SAAC OLUWASANMI 1308. 1173 OJOSIPE ADEDAYO BABATUNDE 1388. 5453 OLADIPO OLUFEMI GABRIEL 1468. 3400 OMEDE GLADYS 1548. 3150 OPURUM DANIEL CHIBUEZE 1309. 4679 OKAFOR CHRISTOPHER CHINAKA 1389. 3886 OLADIPUPO JOHNSON KAYODE 1469. 3091 OMETORUWA IMUETINYAN IGHIWIYISI 1549. 5084 OPURUM GODFREY N. 1310. 5618 OKAFOR EDWIN EMEKA 1390. 4200 OLAIYA ABIOLA ELIZABETH 1470. 3435 OMIRINLEWO JONATHAN OLUWASEUN 1550. 1468 ORAELOSI BENSON 1311. 5788 OKAFOR OFILI CHARLES 1391. 5113 OLAJIDE AZEEZ 1471. 3856 OMIWOLE OLUSEGUN 1551. 6619 OREKOYA ROBO 1312. 5745 OKALI OBINNA NDUBUISI 1392. 4199 OLAJIDE KOLE 1472. 3416 OMOBUDE UWA 1552. 8676 ORELUSI ISOLA 1313. 8336 OKANLAWON OLUFUNKE ABOSEDE 1393. 5617 OLAJIDE NOAH ROTIMI 1473. 6041 OMOEGUN SUNDAY OLUWOLE 1553. 7843 ORIADETU ADEKUNLE ISMAIL 1314. 3862 OKANLAWON TAIWO USMAN 1394. 7075 OLAJIDE OLAWALE SAMUEL 1474. 5061 OMOJADEGBE FRANCIS WOLE 1554. 6087 ORIDUN CAPITAL MANAGEMENT 1315. 6481 OKE OLUWOLE (HONOURABLE) 1395. 6993 OLAJIDE PRINCESS OPEYEMI 1475. 5060 OMOKHAFE OMOAREGBA JOSEPH 1555. 4153 ORIMOLADE EMMANUEL OLUMIDE 1316. 4036 OKEAGU CHIJIOKE 1396. 68 OLAJUMOKE MOLADE 1476. 6386 OMOKHUA AUSTIN 1556. 192 ORIOKE ODUN DUNNI 1317. 3861 OKEBUGWU CHRISTIAN NNAMDI 1397. 3858 OLALEMI OLUWASEUN JOSHUA 1477. 1491 OMOKIDE KAMILU 1557. 4692 ORJI OLUOMACHI 1318. 6608 OKECHUKWU IZUNNA ABEL 1398. 5667 OLALEYE EMMANUEL KOKUMO 1478. 5059 OMONIYI SHERIFAT OLUWAFUNMILAYO 1558. 6640 ORJINTA NGOZI QUEENY 1319. 3374 OKECHUKWU JANET AMAKA 1399. 3824 OLALEYE WURAOLA 1479. 6013 OMONUA PETER 1559. 3158 OROGE GLORIA URUEMU 1320. 7460 OKEDARA OLATUNDE 1400. 6790 OLAMIDE OLUWATOMIWA DAVID 1480. 8599 OMOREGIE EFOSA 1560. 4673 OROGUN LUCKY KELVIN 1321. 7891 OKEKE EMMANUEL IKECHUKWU 1401. 7005 OLAMIDE OLUWATOMIWA DAVID 1481. 8600 OMOREGIE OSAMUDIAMEN 1561. 6860 ORTESE BENJAMIN O. 1322. 7966 OKEKE EMMANUEL UCHENNA 1402. 241 OLAMIDE SHONEKAN 1482. 296 OMOROTIONMWAN MC JOSE 1562. 5794 OSAGHAE OSASOGIE 1323. 5803 OKEKE PIUS JOHNSON O. 1403. 8193 OLANIPEKUN ADEBOLA OLAYEMI 1483. 6899 OMOSANYA OLUFEMI SODIQ 1563. 4741 OSAGIE KIZITO 1324. 3901 OKEKE SCHOLASTICA N 1404. 8533 OLANIYAN ABDULRASAQ ALIYU 1484. 3109 OMOTARA OLUFEMI 1564. 6398 OSAGIEDE BRIGHT 1325. 3000 OKEOWO OLAJUMOKE OWUNOLUWA 1405. 6179 OLANIYAN ADEMOLA ADELODUN 1485. 5058 OMOTAYO JOHN 1565. 7451 OSAKUE JOHN EVBAKHAVBOKEN 1326. 6942 OKEREKE AYAH 1406. 3869 OLANIYAN ADEREMI 1486. 3113 OMOTESO MOFIYINFOLUWA OMOTAYO 1566. 4572 OSAMEYAN OLUFEMI MOYINOLUWA 1327. 151 OKEREKE-ONYUIKE NDI (PROF) 1407. 1146 OLANIYAN OLUWASEYI OLUWATOYIN 1487. 3114 OMOTESO OMOLOLU OMOLOLA 1567. 6752 OSANYIN OLATUNDUN 1328. 6161 OKESANYA SAIDAT ABIODUN 1408. 6945 OLANREWAJU AKEEM 1488. 8191 OMOTOSHO FATHIA ABIOLA 1568. 3969 OSANYINLUSI GEORGE EGBEBI
51 Hope springs eternal
Account Account Account Account No Name No Name No Name No Name 1569. 5420 OSARO EDEE JOHN 1649. 6094 POPOOLA OLUBUSOLA EMILY 1729. 91 SOSAN ABIODUN NIGEL 1809. 8238 UKOGU CLEMENT IKECHUKWU 1570. 3401 OSAWOTA LUCKY 1650. 877 POPOOLA OLUFUNSO 1730. 3220 SOWOLE MOBOLAJI OLAONIPEKUN 1810. 3434 UKPEBOR OSAZELE ELIJAH 1571. 6753 OSENI HAKEEM OLANSILE 1651. 824 POPOOLA ROTIMI 1731. 5347 SOYEMI IBUKUNOLUWA SARAH 1811. 8573 ULOKANJO ANDY CHINEDU 1572. 6078 OSHIKOYA OLUDIYA 1652. 1286 PROPERTY AND PECUNIARY INS BROKERS 1732. 1454 SOYODE KIKELOLA OJUOLAPE 1812. 3476 UMAR BASHIR UMAR 1573. 4442 OSHIN ADESOLA AYINKE 1653. 6744 RABIU GBOLAGADE TIRIMISIYU 1733. 3222 SSUA INVEST. CO. LTD. 1813. 3567 UMAR DANJUMA DANGABAS 1574. 8244 OSHIOKHAMELE EMMANUEL OSHOBUGIE 1654. 5885 RAIMI AJOKE MONSURAT 1734. 3494 STEPHEN ROPO ASALA 1814. 1237 UMAR IBRAHIM MANYAHAYA 1575. 3164 OSHO DOLAPO OPEYEMI 1655. 2025 RAJI MOMOHJIMOH ANAKOBE 1735. 7470 STSL WEALTH MGT SPECIAL A/C 1815. 1433 UME-EZEOKE CHUKWUNONSO ANGELINA 1576. 5079 OSHO IDAYAT ARIKE 1656. 6407 REWANE OMAJOLONE ARAYUWA 1736. 4697 SULE EMMANUEL JNR 1816. 2137 UME-EZEOKE CHUKWUNONSO ANGELINA C 1577. 5078 OSHO OLADEHINDE T. 1657. 5173 ROBERT BELEMA FREDERICK 1737. 7220 SUNMONU TEMITOPE TAYO 1817. 884 UMELO KELECHI CHINAKA 1578. 6968 OSHO OLUWAFEMI OLUWASEUN 1658. 3979 RUFUS OLUSEGUN TEMIDAYO 1738. 3322 TAACO INVESTMENTS LIMITED 1818. 3397 UMOH IME ITA 1579. 5077 OSHO TAIRAT OMOWALE 1659. 3308 RUTH WASA 1739. 5150 TAFIDA ISA 1819. 2141 UMUKORO ONOME UFUOMA 1580. 1282 OSHOJAH HARRIS SUNDAY 1660. 4298 SA’AD ABDUL ZAKIRAI 1740. 8046 TAHIR HUSSAIN SULAIMAN 1820. 6565 UNANKA IRUOMA PEACE 1581. 5134 OSHOJAH VICTOR 1661. 8060 SAAD SAGAGI ABUBAKAR 1741. 6060 TAIWO ABAYOMI ABEL 1821. 7929 UNIQUE FUSSION 1582. 5643 OSO CLEMENT OLADIPUPO 1662. 5460 SABITU ADEYEMI ISHAQ 1742. 3916 TAIWO ADEKUNLE FATAI 1822. 6430 UNITY SISTERS CITY MISSION 1583. 1697 OSO OLUWASOLABOMI MODUPE 1663. 83 SAB-KON SERVICES 1743. 5459 TAIWO ADEMOLA FRANCIS 1823. 1750 UNUIGBOJE EDORE 1584. 5360 OSUNFISAN OSUNFUYI VINCENT 1664. 4752 SADIKU ABAYOMI AHMED 1744. 3947 TAIWO JOSEPH ADEKUNLE 1824. 1751 UNUIGBOJE OJE 1585. 8598 OTABOR IVIE ROSE GODWIN 1665. 1576 SADIQ BASHIR ABUBAKAR 1745. 2063 TAIWO MOTUNRAYO OLUWATAYO 1825. 1748 UNUIGBOJE OJEIRU 1586. 6079 OTAIGHO BENJAMIN OGHENETEGOR 1666. 8013 SADIQ OYIZA KHADIJAT 1746. 92 TAIWO OLUYEMI 1826. 1749 UNUIGBOJE OMOIKHUDU 1587. 8326 OTELE ABIOLA CHARLES 1667. 5781 SAFI MOHAMMED 1747. 5402 TALI FARRANT FAUEN NIMFA 1827. 4281 UPPER ROOM INVESTMENT CLUB 1588. 6399 OTI STEPHEN OBIOHA CHUKWUEMEKA 1668. 4766 SAHIRU ABDULAZIZ HASKE 1748. 1195 TARPUL RESOURCES NIGERIA LIMITED 1828. 4754 UPPER ROOM INVESTMENT CLUB 1589. 8249 OTIONO ELLA 1669. 3978 SALAMI ADESOLA SURAJUDEEN 1749. 5607 TAYO CAROLINE EBUN 1829. 5826 URAMA SUNDAY EMMANUEL 1590. 3364 OTOBO ODEZI FIDELIS 1670. 6063 SALAMI BASIRAT ABIMBOLA 1750. 562 TECHBENIK LIMITED 1830. 6175 USMAN ABUBAKAR ILIYASU 1591. 3950 OTOH PAUL NGOZI 1671. 4221 SALAMI ESTHER BUKKY OLABISI 1751. 3945 TEJUOSO BOLAJI OMODEINDE 1831. 5873 USMAN GARBA DANLAMI 1592. 8260 OTOLO YEMISI ESTHER 1672. 3329 SALAU BABATUNDE TAJUDEEN 1752. 2068 TELLA OLUWADAMILOLA 1832. 360 USMAN REUBEN MONDAY 1593. 3176 OTU PROMISE 1673. 7215 SALAU OLUFUNMILAYO IBIDUN 1753. 5810 TEMTSEN HELEN KANGYANG 1833. 5846 UVERE CHIJIOKE EMMANUEL 1594. 6082 OTU SOLOMON GODDIVINE 1674. 7866 SALIHU AHMED ABDULLAHI 1754. 2070 THE ARK CONSOLIDATED INVESTMENTS 1834. 8364 UWAJEH ALEX NKENCHOR 1595. 6083 OTU VICTORY ABASIAKA 1675. 4798 SALISU IDRIS MAKAMAN DANMADAMI 1755. 93 THE ROCK TRUST LTD 1835. 4462 UWONWA RAPHEAL U. 1596. 5185 OTUFOWORA NOJEEM ADEBAYO 1676. 4654 SALISU KHADUJAT IDRIS 1756. 3254 THE ROCK TRUSTS LTD 1836. 862 UZO NWANKWO 1597. 3180 OTUYALO ADETUTU 1677. 4655 SALISU ZAINULABIDEEN 1757. 7889 THEOPHILUS MMERENWANNE STEPHEN 1837. 7109 UZOKA MADUABUCHI GODWIN 1598. 5359 OTUYEMI VICTOR ADEBAYO 1678. 6763 SALIU ABDULFATAI BAMIDELE 1758. 6982 THIKAN PETER TAMARAEMI 1838. 4059 UZOZIE ROSELINE CHIOMA 1599. 6478 OUT FINNER MOSES 1679. 7414 SALIU IBRAHIM OSIKEAMHE 1759. 2072 THOMAS SANDRA 1839. 4303 VENUS CONSTRUCTION COMPANY LTD 1600. 5797 OVIAWE OMOROGBE FRIDAY 1680. 5198 SALIU OLAWALE OLANREWAJU 1760. 7951 THOMPSON OKECHUKWU 1840. 4829 VENUS CONSTRUCTION COMPANY LTD 1601. 5431 OWA OLATUNDE SAMUEL 1681. 3977 SALIU OLUSEGUN SAHEED A. 1761. 6539 TIAMIYU KAZEEM ADEKUNLE 1841. 517 VERHEIJEN DANLADI 1602. 5733 OWADUGE MARIAN ADENIKE 1682. 8683 SAMUEL PEDRO 1762. 6054 TIJANI OLADIPUPO MUHRTALA 1842. 8577 VERSACORP WEALTHCREATION INV. LTD. 1603. 5184 OWEH SUNDAY 1683. 5545 SANFEL INVESTMENT LIMITED 1763. 2075 TIJANI SAIDAT ABIMBOLA 1843. 2154 WAHAB DOSUNMU 1604. 1152 OWO NNAMDI OKWUDILI CHUKWU 1684. 6413 SANI IBRAHIM 1764. 5668 TIJJANI GARBA JIDDA 1844. 8352 WAKAMA AMAKIRI KINGDOM 1605. 1154 OWO OSEYEMI MARY 1685. 6834 SANI MOHAMMED BELLO 1765. 5871 TIJJANI HAFSAT 1845. 8578 WALE KUKU 1606. 8253 OWOLABI ABIOLA OLUBANKE 1686. 7067 SANI NASIRU ALIERO 1766. 2076 TIMEPLUS GLOBAL RESOURCES 1846. 4056 WASIU ADEWALE AZEEZ 1607. 3954 OWOLABI ENOCH AYOBAMI 1687. 2048 SANNI DELE 1767. 855 TINUOLU GABRIEL OMOTUNRAYO ABIOLA 1847. 2156 WASIU FALADE 1608. 4418 OWOLABI KEHINDE KABIR 1688. 6525 SANNI IBRAHIM OMOTAYO 1768. 856 TITILOYE OLUWAYEMI FELIX 1848. 6432 WAZIRI AHMADU MAN 1609. 6097 OWOLABI OLUFUNKE RASIDAT 1689. 2049 SANNI TOYIN FOLASHADE 1769. 4694 TITUS DORIS 1849. 4799 WAZIRI SILAS IDDAH 1610. 6086 OWOLABI OLUKUNLE ROTIMI 1690. 6414 SANTRUST SECURITIES LTD-DEP A/C 1770. 7221 TOBILOBA DELE 1850. 2165 WILLIAMS JACOB OLUFEMI 1611. 5183 OWOLABI OLUMUYIWA OLUWOLE 1691. 85 SANUSI JOSEPH OLADELE 1771. 8569 TOMORI GBEMISOLA 1851. 284 WILLIE VICTOR 1612. 3953 OWOLABI SEGUN KAYODE 1692. 2052 SCHOOL KITS LIMITED 1772. 5151 TOPMOST FIN.& INV. LTD.TRADED-STOCK-A/C 1852. 6467 WILSON CHUKWUEMEKA EGIMEN 1613. 4428 OWOLABI TAIWO ADEMOLA 1693. 3276 SCHUBBS NIGERIA LIMITED 1773. 2083 TOYFEM NIG. LIMITED 1853. 2168 WISEPATH TREASURES LTD 1614. 5590 OYADIRAN SAMUEL MAYOWA 1694. 6893 SEED MEDIA LIMITED 1774. 3298 TRADERITE LIMITED 1854. 267 WURAOLA AKINDELE OLUFEMI 1615. 7449 OYEBODE ADEMOLA VICTOR 1695. 8559 SEGUNMARU OLUWAFEMI ISMAIL 1775. 223 TRIDYNAMICS OIL & GAS LTD 1855. 3499 YAKASAI MURTALA AMINU 1616. 6757 OYEDELE ABDULAZEEZ ADEMOLA TAIWO 1696. 3924 SHABAYO FOLAKEMI 1776. 1397 TUEDOR SISAN 1856. 5553 YAKUBU ALFA BALARABE 1617. 5651 OYEDIRAN HAKEEM MAKANJUOLA 1697. 3923 SHADA TOLULOPE 1777. 7908 TURAKI SULEIMAN YAKUBU 1857. 2171 YAKUBU DANLADI 1618. 7847 OYEDOTUN JELIL SHINA 1698. 5204 SHAIBU OHIARE MICHAEL 1778. 5139 TURNER MARIAM IDOWU 1858. 154 YAROE BINOS DAUDA 1619. 5366 OYEGUNLE FUNKE AINA 1699. 1047 SHALLYBROS TELECOMS LIMITED 1779. 7155 U2 SERVICES VENTURES 1859. 5741 YAYA JOHNSON OLATUNBOSUN 1620. 6089 OYEKANMI TEMITAYO ABOSEDE 1700. 5202 SHEILE ESTHER ABOSEDE 1780. 6817 UBA PLC/DE-LORDS SECURITIES LTD- TRDNG 1860. 5155 YEKINNI TAIWO SUNDAY 1621. 1999 OYELADE ABDULFATAI OLUWASHINA 1701. 8560 SHITTU OLALEKAN 1781. 5656 UCHEAGWU IGNATIUS NNAMENE 1861. 3475 YERO MANSUR UMAR 1622. 929 OYELOWO MATHEW OLANIYI 1702. 3920 SHOBAYO OLAKUNLE STEPHEN 1782. 8348 UCHENDU AUGUSTINE TOCHUKWU 1862. 4821 YOLA ABDULMUMINI ADO 1623. 2000 OYENEKAN OLAJUMOKE DORCAS 1703. 177 SHODEINDE AYODEJI UZENAT 1783. 2114 UCHENDU UJU FRANCISCA 1863. 327 YOMI ONIWINDE 1624. 2001 OYENIYI TAIWO HASSAN 1704. 3919 SHODIPO IDOWU NIYI 1784. 7979 UDEAGBALA OBINNA KENNETH 1864. 3436 YOU-ON-ON ATIMANU BETEBEKEH 1625. 5650 OYENUGA ADETOMI B 1705. 4192 SHODUNKE OLUSOLA 1785. 4454 UDEBUANI CLETUS OKWUCHUKWU 1865. 4841 YUSUF ABDULMUMEEN 1626. 2003 OYEWUMI AJIBIKE FADEKEMI 1706. 7216 SHOEWU ADEBIMPE 1786. 2115 UDEMEZIE CHIKA EUPHEMIA 1866. 1223 YUSUF ABDULRASAK ADEOLA 1627. 8555 OYEYEMI ANITA TESSY 1707. 7217 SHOEWU OLUWARANTI 1787. 8571 UDI EMMANUEL 1867. 2175 YUSUF AJADI AYODELE ZAINAB 1628. 7002 OYIBOKA EDITH NDIDI 1708. 1783 SHOMOYE OLUBUKOLA MOJISOLA 1788. 5836 UDOFIA INYANG EDEM 1868. 4744 YUSUF AMAJE MUHAMMED 1629. 7149 OZEH CHRISTIAN SUNDAY 1709. 5209 SHONEKAN OLAMIDE 1789. 3931 UDOH ALMOND OKON 1869. 5663 YUSUF FARIDA DIKKO 1630. 285 OZIGBO VALENTINE CHINETO 1710. 3208 SHONIBARE ADEMOLA ABRAHAM 1790. 7875 UDOJI UGOCHUKWU KINGSLEY 1870. 2176 YUSUF MOHAMMED OLUWASEUN 1631. 8556 OZIGI VICTORIA ASIPITA 1711. 7806 SHONUGA DAVID OYEDELE 1791. 1186 UDUMEBRAYE DAMIAN OGHENETEJIRI 1871. 5154 YUSUF MUMINI ADEKUNLE 1632. 5751 OZOKA UCHECHUKWU THERESA 1712. 88 SHOTUNDE OMOLARA 1792. 1189 UDUMEBRAYE EDNA UFUOMA 1872. 1222 YUSUF OLOLADE BILIKIS 1633. 2009 OZONZEADI CHINWENDU MONICA 1713. 5595 SHUAIBU AMINU 1793. 1185 UDUMEBRAYE GERALD OGHENEKARO 1873. 4052 YUSUF RAMOTA AMOKE 1634. 8680 OZOYA ESIGIE GREG 1714. 4223 SIBANI CLIFFORD MEESUA 1794. 1187 UDUMEBRAYE JESSICA ESE 1874. 4050 YUSUFF AZEEZ 1635. 80 PALMER KENNEDY 1715. 8563 SIDI ISHATU IDRIS 1795. 1191 UDUMEBRAYE JOHN-KAROL AROH 1875. 2180 YUSUFF MUSIBAU MUHAMMED 1636. 7259 PANCHIRI FRANCIS MEDU 1716. 6528 SIJUOLA RASAQ AJIBOLA 1796. 1188 UDUMEBRAYE MICHAEL OGHENERUKEVWE 1876. 5852 ZAKARI SUMAYYAH 1637. 5180 PANTELERIA LIMITED 1717. 3305 SMARTCITY RESORTS PLC 1797. 571 UFOEZE CHIZOBA ANGELA 1877. 8011 ZANNAH KALLI 1638. 3317 PAPAI-AGUSTO&COMPANY LTD 1718. 6885 SOBO OLUWADARE OLABAMIJI 1798. 6669 UFOMBA OKWUDIRI STAMLEY 1878. 6135 ZENABU YAKUBU 1639. 7952 PARTRICK ROSE ZIRRA 1719. 6057 SOBOWALE KOLA 1799. 6470 UGEGE ABHAMIEBAREKIOYA PETER 1640. 4582 PATRICK LUCKY AYEBANUA 1720. 7791 SODIMU OLAWALE IBUKUNOLU 1800. 8236 UGELE FESTUS PATRICK 1641. 2014 PATRICK NWACHI EHIOMA LAURETTA 1721. 4166 SODIMU OYENIYI OLUWASEUN 1801. 6427 UGWU LIVINUS EJIKE 1642. 6404 PDC GLOBAL SERVICES 1722. 3253 SOFELA ADEBOLA EMMANUEL 1802. 4651 UGWUANYI TITUS IFEANYI 1643. 2015 PEACEFORT INVESTMENT LTD 1723. 8250 SOKUNLE RAUFU OLAWALE 1803. 4666 UKA VICTOR CHIEDOZIE 1644. 821 PENDER - OBODO KIKI OKIREMETU 1724. 8225 SOLID FOUNDATION CHILDREN SCHOOL 1804. 2123 UKAGHA NGOZI 1645. 2017 PHIDO LILIAN IDEM 1725. 4168 SONAIKE IFAMAJENTE SEUN 1805. 8572 UKANAH SUNNY AKPAN 1646. 822 PINEFIELD INVESTMENT SERVICE 1726. 171 SONOIKI OLUSEYE ABODUNRIN 1806. 5771 UKATU FLORENCE CHINYERE 1647. 3269 PLURAL LTD 1727. 8226 SONUGA TOLULOPE BUSAYO 1807. 2127 UKEGBU AZUBUIKE EMMANUEL 1648. 5178 POPOOLA AMOS KEHINDE 1728. 8587 SORONNADI MALACHY 1808. 6428 UKOGU CLEMENT IKECHUKWU
52 Chams PLC 2011 Annual Report
Chams PLC
PROXY FORM
28th Annual General Meeting to be held at Chams Plc, Plot 1288, Ahmadu Bello Way, Area 11, Abuja on Wednesday 21st November 2012 at 11.00 am.
I/We______.being a member/members of CHAMS Plc hereby appoint ______
or failing him ______or failing him ______, as my proxy to attend and vote for me/us and on my behalf at the Annual General Meeting of the company to be held on Wednesday, 21 November, 2012 and at any adjournment thereof.
Dated this______.day of ______2012
Shareholder’s name______Shareholder’s Signature______
S/N RESOLUTION FOR AGAINST
1 To receive the audited Financial Statement for the year ended 31 December, 2011 and the Reports of the Directors, Auditors and Audit Committee thereon
2
3
4
Please indicate with an ‘X’ in the appropriate square how you wish your votes to be cast on the resolutions set above. Unless otherwise instructed, the proxy will vote or abstain from voting at his or her discretion.
Before posting the above form please tear off this part and return it for admission to the meeting
Admission Card
Please admit the Shareholder named on this Card or his duly appointed proxy to the Annual General Meeting of the company to be held on 21st November, 2011 at the Chams Multi Purpose Hall, Plot 1288, Ahmadu Bello Way, Area 11, Garki, Abuja.
The admission card must be produced by the Proxy in order to gain entrance into the Annual General Meeting.
______
Name of Shareholder Name of Proxy Signature (Shareholder) Number of Shares Held
53
Corporate Directory
Head Office Subsidiaries 8 Louis Solomon Close ChamsMobile Limited Off Ahmadu Bello Way 8 Louis Solomon Close Victoria Island Off Ahmadu Bello Way Lagos Victoria Island Lagos Abuja Office ChamsAccess Limited 8 Louis Solomon Close Plot 1288, Ahmadu Bello Way, Off Ahmadu Bello Way Area 11, Garki, Victoria Island Abuja Lagos ChamsSwitch Limited Outlets - ChamsCity Plot 1288, Ahmadu Bello Way Centres. Area 11, Garki, Lagos Abuja 2A Isaac John Street, CardCentre Nigeria Limited GRA, Ikeja 8 Louis Solomon Close Abuja Off Ahmadu Bello Way Plot 66, First Avenue, Victoria Island Off Shehu Shagari Road, Lagos Central Area, PayMaster Limited Abuja 8 Louis Solomon Close Abuja II Off Ahmadu Bello Way Area 3, Abuja Victoria Island Lagos Port Harcourt 89, Stadium Road, Behind Fedex Building, Port-Harcourt, Rivers State Benin 34 Akpakpava Street, Benin City, Edo State www.chams.com