2009 Annual Report and Financial Statements - UBA Plc

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Non-executive directors CHIEF ISRAEL C. OGBUE Director Appointed 2005 Qualifi ed as a Chartered Secretary following graduation from South-West London College of Commerce, England. Holds the fellowship of the Chartered Institute of Secretaries. Has work experience spanning over four decades, seven of which were at Senior Management level as General Manager of National Insurance Corporation of Nigeria (NICON), prior to his retirement. Has served as a Director on the boards of many companies, including Transcorp Hilton Hotel and NAL Bank (now Sterling Bank Plc). ADA R. OKWECHIME Director Appointed 2005 Holds Masters degree (Banking and Finance) and membership of the Chartered Institute of Bankers since 1976. Has served in the banking industry for over 25 years, including her time at the Bank of England. A distinguished banker, she has been the Managing Director of Abbey Building Society Limited since 1992. Sits on the boards of several companies. WILLY KROEGER (GERMAN) Director Appointed 1996 Graduate of Banking Economics from Bankademie Hamburg, Germany. Has worked with Deutsche Bank (formerly Bankers Trust Company) for over 35 years in various capacities and is currently with the UK subsidiary of the Group as Global Assets Relationship Manager for North and West African Financial Institutions. PAOLO DI MARTINO (ITALIAN) Director Appointed 2005 An alumnus of M. Da Passano‘s Commercial School in Italy graduating with the 1970 Accountancy class, he holds a doctorate in Agriculture from Pisa University, Italy. In 1975, he joined Monte Dei Paschi Siena, an Italian-based bank, where he handled several responsibilities, including being the bank‘s representative in several countries at diff erent times. In 1988, he was seconded to UBA Plc, Lagos Head Offi ce as Technical Assistant, a position he held until 1991, when he returned to Italy. Annual Report 2009 7 Board of directors
Board of directors (continued) 8 Annual Report 2009 GARBA RUMA Director Appointed 2007 A former banker and political scientist, he holds a BSc (Political Science) degree from the Ahmadu Bello University, Zaria. He worked at the Bank of Industry (formerly Nigerian Industrial Development Bank) between 1991 and 1998, rising to the position of Controller/Area Administrator (North West). He has also served at Federal Ministry of Labour and Productivity as Director of Personnel and Administration and as Director of Cooperatives, Arewa Hotels, among other high profi le appointments. ADEKUNLE A OLUMIDE, OON Director Appointed 2007 Obtained a BA Degree (History) from the University College of Ibadan in 1964. A quintessential diplomat, distinguished career public servant and accomplished technocrat of the organised private sector. Former Federal Permanent Secretary, he has represented Nigeria in several global fora, including the United Nations as Minister-Counsellor with concurrent accreditation to Vienna, Austria, where he served on the Board of the International Atomic Energy Agency (IAEA). Oversaw the re-opening of the Nigerian Embassy in Gabon in 1974, after the Nigerian civil war as the Charge‘d‘Aff aires. He retired as the Director General of Lagos Chambers of Commerce and Industry in 2005. He is a recipient of the national honour of Offi cer of the Order of the Niger (OON) and a member of the Nigerian Economic Summit Group (NESG). CHIEF KOLA JAMODU, OFR Director Appointed 2007 Fellow of the Institute of Chartered Accountants of Nigeria, Chartered Institute of Management Accountants, Chartered Institute of Secretaries and the Chartered Institute of Taxation. He is an alumnus of the Harvard Business School, USA. An industrialist and the fi rst Nigerian Chairman/Chief Executive Offi cer of Paterson Zochonis Group of Companies. He was also the Chairman of Universal Trust Bank Plc until February 2001, when he was appointed Nigerian Minister of Industry by the Federal Government. Recipient of the national awards of Member of the Order of the Federal Republic of Nigeria (MFR) and Offi cer of the Order of the Federal Republic of Nigeria (OFR). He is also a recipient of the National Productivity Merit Award – adjudged the most productive Chief Executive. FOLUKE ABDULRAZAQ Director Appointed 2008 Holds an MSc (Banking and Finance) degree and is an accountant by training. Has over 15 years’ work experience in banking, at the height of which she was the CEO of the defunct Credit Bank Nigeria Limited and and later Executive Chairman of the CBN and NDIC-appointed interim Management Board. At diff erent times in the public service, she has been Chairman of Lagos State Tenders Board, member of Nigeria’s Federal Accounts Allocation Committee and two-time Commissioner of Lagos State. She has held other board and board-level appointments in other private sector organisations and is currently the Executive Director and Proprietress of Bridge House College, Ikoyi.
Page 1 and 2: United Bank for Africa Plc RC: 2457
Page 3 and 4: Deposits (N’Billion) 1500 1200 90
Page 5 and 6: Group at a glance Countries of oper
Page 7 and 8: Board of directors 4 Annual Report
Page 9: Board of directors (continued) 6 An
Page 13 and 14: Senior management 10 Annual Report
Page 15 and 16: Chairman’s statement CHIEF FERDIN
Page 17 and 18: Chairman’s statement (continued)
Page 19 and 20: Group Managing Director/Chief Execu
Page 25 and 26: Review of Group’s fi nancial perf
Page 27 and 28: Review of Group’s fi nancial perf
Page 29 and 30: Our products and services Selected
Page 31 and 32: Corporate social responsibility rep
Page 37 and 38: Directors’ report for the period
Page 39 and 40: Directors’ report (continued) •
Page 41 and 42: Directors’ report (continued) AUD
Page 43 and 44: Corporate governance report (contin
Page 45 and 46: Report of the Audit Committee To Me
Page 47 and 48: Report of the independent auditors
Page 49 and 50: Accounting policies for the period
Page 55 and 56: Consolidated profi t and loss accou
Page 57 and 58: Consolidated cash fl ow statement f
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Notes to the consolidated fi nancia
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Group fi ve-year fi nancial summary
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Risk management report ENTERPRISE-W
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Risk management report (continued)
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Shareholder information MARKET STAT
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Shareholder information (continued)
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Shareholder information (continued)
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Glossary AML Anti Money Laundering
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Corporate information (continued) N
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Notice of annual general meeting (c
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Notes 128 Annual Report 2009
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e-Dividend mandate form Dear Shareh
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Registrars UBA Registrars Limited R
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