SKYE BANK ANNUAL REPORT 2015 25x20FA16SEP16

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The Companies and Allied Matters Act and the Banks and Other Financial Institutions Act, require the directors to prepare nancial

statements for each nancial year that gives a true and fair view of the state of nancial affairs of the Company and Group at the end of

the year and of its prot or loss. The responsibilities include ensuring that the Company and Group;

Keep proper accounting records that disclose, with reasonable accuracy, the nancial position of the Company and Group and

comply with the requirements of the Companies and Allied Matters Act and the Banks and Other Financial Institutions Act;

Establish adequate internal controls to safeguard its assets and to prevent and detect fraud and other irregularities; and

Prepare nancial statements using suitable accounting policies supported by reasonable and prudent judgments and estimates

that are consistently applied.

The Directors accept responsibility for the nancial statements, which have been prepared using appropriate accounting policies

supported by reasonable and prudent judgments and estimates, in conformity with the International Financial Reporting Standard (IFRS)

and the requirements of the Companies and Allied Matters Act; CAP C20 Laws of the Federation of Nigeria 2004 and the Financial

Reporting Council of Nigeria No.6, 2011.

The directors are of the opinion that the consolidated nancial statements give a true and fair view of the state of the nancial affairs of

the Bank and Group and of the nancial performance and cash-ows for the period. The directors further accept responsibility for the

maintenance of accounting records that may be relied upon in the preparation of nancial statements, as well as adequate systems of

internal nancial control.

Nothing has come to the directors to indicate that the Bank and Group will not remain a going concern for at least twelve months from

the date of this statement.

SIGNED ON BEHALF OF THE BOARD OF DIRECTORS BY:

Dr Tunde Ayeni

Timothy Oguntayo

Chairman

Group Managing Director

21 April 2016 21 April 2016

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