2009 Annual Report and Financial Statements - UBA Plc

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DONATIONS AND CHARITABLE GIFTS The Bank made contributions to charitable and non-political organisations amounting to N58.48 million (2008: N307 million) during the period, analysed as follows. Benefi ciary Purpose N’million Institute of Chartered Accountants of Nigeria ICAN Multi-purpose Hall 23.96 Athletics Federation of Nigeria To support programmes 10.00 Lagos Business School Infrastructure development 10.00 National Agricultural Show Agriculture summit 5.00 Tai Solarin University Donation of 18 seater bus 2.94 Christian Association of Nigeria Donation of 21 boreholes 2.50 Federal Road Safety Commission (FRSC ) To support initiatives 1.03 Financial Institutions Training Center To support programmes 0.77 University of Jos To support initiatives 0.50 National Economic Summit To support programmes 0.27 Chamber of Commerce & Industry To support initiatives 0.25 National Council of Arts and Culture To support programmes 0.25 National Food Reserve Agency To support programmes 0.25 57.71 Others less than N250 000 To support initiatives 0.77 POST-BALANCE SHEET EVENTS There are no post-balance sheet events which could have had a material eff ect on the fi nancial state of aff airs as at 31 December 2009 and the profi t for the period ended on that date, which have not been adequately provided for or recognised. HUMAN RESOURCES Employment of disabled persons UBA operates a non-discriminatory policy in the consideration of applications for employment, including those received from disabled persons. The Bank’s policy is to recruit the most qualifi ed candidate for appropriate job levels irrespective of an applicant’s state of origin, ethnicity, religion or physical condition. Accordingly, the Bank’s policy prohibits discrimination against disabled persons in the recruitment, training and career development of its employees. In the event of members of staff becoming disabled, eff orts will be made to ensure that their employment with the Bank continues and appropriate training is arranged to ensure that they fi t into the Bank’s working environment. Health, safety and welfare at work The Bank maintains strict health and safety rules and practices at the work environment, which are reviewed and tested regularly. The Bank retains top-class private hospitals where medical facilities are provided for staff and their immediate families at the Bank’s expense. Fire prevention and fi re-fi ghting equipment are installed in strategic locations within the company’s premises. The Bank operates a Workmen’s Compensation Insurance cover for the benefi t of its employees. It also operates a contributory pension plan in line with the Pension Reform Act, 2004. Employee involvement and training The Bank ensures, through various fora, that employees are informed on matters concerning them. Formal and informal channels are also employed in communication with employees, with an appropriate two-way feedback mechanism. In accordance with the Bank’s policy of continuous development, training facilities are provided in the Bank’s well-equipped Training School. In addition, employees of the Bank are nominated to attend both locally and internationally organised courses. These are complemented by on-the job training. 58.48 Annual Report 2009 37 Directors’ report
Directors’ report (continued) AUDIT COMMITTEE Pursuant to section 359(3) of the Companies and Allied Matters Act, CAP 20 Laws of the Federation of Nigeria, the Bank has an Audit Committee comprising three Non-Executive Directors and three Shareholders as follows: 1. Mr. Jonathan Anolu Chairman/shareholder 2. Mr. Henry Laraiyetan Shareholder 3. Alhaji Umar Al-Kassim Shareholder 4. Alhaji Garba S Ruma Non-Executive Director 5. Chief Israel C Ogbue Non-Executive Director 6. Mrs. Rose Ada Okwechime Non-Executive Director The functions of the Audit Committee are as laid down in section 359(6) of the Companies and Allied Matters Act, CAP 20 Laws of the Federation of Nigeria 2004. AUDITORS The Auditors, Messrs Akintola Williams Deloitte have served the Bank for over 10 years and in line with the provisions of the CBN Code of Corporate Governance will not seek re-appointment. A resolution will be proposed at the Annual General Meeting for the appointment of new Auditors and to authorise the Directors to determine their remuneration. By order of the Board Bili Odum Group Company Secretary 57 Marina, Lagos, Nigeria 38 Annual Report 2009
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 and 10: Board of directors (continued) 6 An
Page 11 and 12: Board of directors (continued) 8 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: Directors’ report (continued) •
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
Page 59 and 60: Notes to the consolidated fi nancia
Page 87 and 88: Group fi ve-year fi nancial summary
Page 89 and 90: 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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