Union bank annual report 2012

Union Bank of Nigeria Plc and Subsidiary Companies

Consolidated financial statements for the year ended 31 December 2012

Together with Directors' and Auditor's Reports

Corporate Profile

Notice of Annual General Meeting

Corporate Information

Chairman’s Statement

Group Managing Director’s Review

Report of the External Consultant

Corporate Social Responsibility

Results at a Glance

Consolidated and Separate Statements of Financial Position

Consolidated and Separate Statements of Comprehensive Income

Consolidated and Separate Statements of Changes in Equity

Consolidated and Separate Statements of Cashflows

Notes to the Consolidated Financial Statements

Value Added Statement

Financial Summary

Subsidiaries and Associates

Corporate Governance

Directors’ Report

Statement of Directors’ Responsibilities

Report of the Audit Committee

Independent Auditor’s Report

Union Bank Offices in Nigeria

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Results at a glance

GROSS EARNINGS PROFIT ON ORDINARY ACTIVITIESBEFORE TAX

PROFIT AFTER TAX

N112.79billion N9.06billion N7.375billion

Increased/(Decreased)

%

Bank31 Dec. 2011N’ Million

Bank31 Dec. 2011N’ Million

Increased/(Decreased)

%

Group31 Dec. 2011N’ Million

Group31 Dec. 2011N’ Million

Major Profit and Loss Account Items

Gross earnings

Profit/ (Loss) before tax

Profit/ (Loss) after tax

Earnings per share

Major Balance Sheet Items

Deposits from customers

Loans and advances

Total Assets

Shareholders funds

112,794 85,101 33 96,484 71,206 36

9,060 (107,684) 108 8,119 (102,633) 108

110(76,711)(7,851)109(32,551)7,375

61k (1,266k) 105 46k (1,251k) 104

522,443 500,973 4 482,005 399,775 21

164,931 166,172 (1) 136,982 144,358 (5)

1,033,047 1,054,734 (2) 886,468 827,153 7

194,398 199,372 (2) 171,671 178,902 (4)

Union Bank of Nigeria PLC is a key player in the Nigerian financial sector, with over 400 branches nationwide, a full fledged subsidiary in London, United Kingdom, and the first Nigerian bank to establish a Representative Office in South Africa. The Bank has a huge assets base with strong brand loyalty. At the wake of the banking reforms, Union Bank has continued to overcome the challenges in order to recover its leadership role in the banking industry. The Bank's recapitalization stride has recorded huge success with the Union Global Partners Limited and Assets Management Corporation of Nigeria (AMCON) intervention which assisted in raising its capital adequacy ratio above industry standards. Union Bank is a financial supermarket, with viable subsidiaries and associate companies specialising in mortgages, insurance, trusteeship, stockbroking, property development, share registration, courier service, SME financing and discount house business. Each of them has stamped its foot in the relevant subsector and contributing to the Group's gross earnings. Established in 1917, the Bank was listed on the Nigerian Stock Exchange in 1970. Union Bank of Nigeria PLC is the second oldest independent, non-governmental banking institution in the country. As part of the Bank's effort to maintain its leadership position in the financial sector of the economy and the consolidation programme of the Central Bank of Nigeria (CBN), under Professor Chukwuma C. Soludo as Governor, it acquired Universal Trust Bank PLC, Broad Bank of Nigeria Limited and absorbed Union Merchant Bank Limited, its erstwhile subsidiary. The Bank is fully integrated in the areas of human resources, processes, ICT and infrastructure. All its branches are on-line, real time. The Bank had upgraded its Banking Application, Flexcube and embarked on an Enterprise-wide Transformation Programme. It is currently embarking on rebranding projects starting with branches under its flagship category.

The Bank has been in the vanguard of economic development and growth of Nigeria which has won it several laurels. For example, it has won the Nigerian Stock Exchange President's Merit Award twelve times, which is more than any other bank in the country. For four years, i.e. 2000, 2001, 2002 and 2004, it was named the Bank of the Year for Nigeria by The Banker magazine, a sister publication of the influential Financial Times of London. The magazine also ranked the Bank among the renowned World's 1000 Best Banks in 2007 and 2008. It won the Euromoney 2006 Award for Excellence as the Best Bank in Nigeria. In addition, Fitch Global Ratings, a foremost international rating agency, had in 2008 assigned Union Bank National Long and Short-term Ratings of “A+(nga)” and “F1(nga)” respectively as well as Issuer Default Rating (“IDR”) “B+” with stable outlook. It has also won the CBN Best Agric Support Bank Award since its inception in 1993; CBN Best State Farmer of the Year Award, more times than any other bank in Nigeria, CBN National Best Farmer of the Year Award many times since inception in 1995 and CBN Best SMEEIS-Financing Bank Award.

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CORPORATE PROFILE Union Bank of Nigeria Plc and Subsidiary Companies



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NOTICE OF ANNUAL GENERAL MEETING




NOTICE is hereby given that the FORTY-FOURTH ANNUAL GENERAL MEETING of Union Bank of Nigeria Plc will be held in The Conference Hall, Tinapa Lakeside Hotel, Tinapa Business and Leisure Resort, Adiabo-Calabar, Cross

thRiver State, Nigeria on Tuesday, 18 June, 2013 at 11.00 a. m. to transact the following business:

ORDINARY BUSINESS

st1. To receive and adopt the Company's Audited Group Financial Statements for the financial year ended 31 December, 2012 together with the reports of the Directors, Auditor, Board Appraiser and the Audit Committee.

2. To authorize Directors to fix the remuneration of the Auditor.3. To elect/re-elect Directors.4. To approve the remuneration of Directors.5. To elect/re-elect members of the Audit Committee.

SPECIAL BUSINESSTo consider and if thought fit pass the following as an ordinary resolution:

1. That the Board of Directors of the Company (“the Directors”) be and is hereby authorized to take all necessary steps required to comply with the Central Bank of Nigeria (“CBN”) Regulation on the Scope of Banking Activities and Ancillary Matters, No. 3, 2010, in such manner as it deems fit within the period prescribed by the CBN, or any extension thereof granted by the CBN, upon such terms and conditions as the Directors may determine to be in the best interest of the Company.

SPECIAL NOTICEth thMessrs. Richard Lee Kramer and John Botts who attained the age of seventy (70) years on 20 June 2004 and 19 January

2011 respectively have been appointed Directors of the Company and that pursuant to the provisions of Section 256 of the Companies and Allied Matters Act 2004 the said Directors shall not vacate their office as Directors, having given notice of

ththeir age to the Company on 12 September 2012.

NOTES(a) PROXY

A member of the company entitled to attend and vote is entitled to appoint a proxy to attend and vote in its, his or her stead and for that purpose, a proxy form is supplied with the Notice of Meeting. Executed proxy forms should be duly stamped at the Stamp Duties Office and deposited at the office of the Company Registrar, Union Registrars Limited, 2 Burma Road, Apapa, Lagos not less than 48 hours before the meeting.

(b) AUDIT COMMITTEEAny member may nominate a shareholder for election as a member of the Audit Committee by giving notice in writing of such nomination to the Company Secretary at least 21 days before the Annual General Meeting.

(c) CLOSURE OF THE REGISTER OF MEMBERSthThe Register of Members and Transfer Books of the Company will be closed from Monday, 20 May 2013 to

thFriday, 24 May 2013 (both days inclusive).

BY ORDER OF THE BOARD

Somuyiwa Adedeji SonubiCompany SecretaryUnion Bank of Nigeria PlcStallion Plaza36 MarinaLagos.

thDated this 16 day of May 2013

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EXECUTIVES & ADVISERS

GROUP MANAGING DIRECTOR Emeka Emuwa

EXECUTIVE DIRECTORS Adekunle Mickey Adeosun Commercial & Retail Bkg (South) and Consumer Bkg

Oyinkan Adewale Chief Financial OfficerIbrahim Abubakar Kwargana Commercial & Retail Bkg (North)

and Public Sector

BOARD OF DIRECTORS CHAIRMAN Udoma Udo Udoma


DIRECTORS Adekunle Mickey AdeosunOyinkan AdewaleMansur AhmedOnikepo Akande John C. BottsRichard BurrettRichard Lee KramerIbrahim Abubakar KwaganaJames Macarthur Douglas Tawanda MunatsiCyril Akporuere OduAdeyemi OsinderoDickie Agumba Ulu

COMPANY SECRETARY Somuyiwa Adedeji Sonubi


EXECUTIVE DIRECTORS Adekunle Mickey Adeosun Commercial & Retail Bkg (South) and Consumer Bkg

Oyinkan Adewale Chief Financial Officer Ibrahim Abubakar Kwargana Commercial & Retail Bkg (North)

and Public Sector

GENERAL MANAGER Lateef Olufemi Dabiri Central Operations David Taiwo Isiavwe Inspection

DEPUTY GENERAL MANAGERS Joyce Olubunmi Adekoya Risk ManagementOlufunwa Akinmade Retail LiabilitiesKaonen Adekola Ali MD/CE, Union Bank (UK) plcPeter N. Aliogo Owerri 1 Zone Claudius Olakunle Ball Abuja II ZoneFatai Babatunde Baruwa E-BusinessPaulinus Agu Chima Enugu ZoneIsaac Zakari Dimka Jos Zone

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Stella Nse Emmanuel Retail CreditMichael Ochuko Hunder Quality AssuranceTuraki Ibrahim Kano I ZoneMichael Bolanle Iyela Human ResourcesAnthony Oye Olufidipe Special ProductsAbayomi Samson Oluyomi TreasuryVivian Uchenna Osian Branch CoordinationMaurice Akpofure Phido CBG (Specialized Markets)Bamgbola Oriyomi Sokoya Compliance

ASSISTANT GENERAL MANAGERS Olanireti Abimbola Branch CoordinationTaiwo Olukayode Adeneye TreasuryIsaac Sylvester Ajilima Akure ZoneSheikh Maiwada Aliyu-Auchan Special ProductsChristie Ebere Atabansi E-BusinessWinifred Abiodun Atawodi Abuja I ZoneIbrahim Adebola Badmus Ikeja II ZoneFaruku Namadi Hussein RecoveryJim Ikwuoche Imonde Port Harcourt I ZoneAbdulkadir Jaafaru Makurdi ZoneAdebanji David Jimoh Lagos Island I ZonePearl Chidinma Kanu Ag. MD/CE, Union Homes Savings

and Loans PLCAgatha Mbuyuana Mbanefo Customer Care Ezinwa Nnanyere Mbogu Port Harcourt II Zone Roseline Kaiwolu Nwayo InspectionFrederick Osabuohien Obasuyi Calabar ZoneIlobekeme Odiase Human ResourcesMorenike Arinola Olabisi CBG-Food/BeverageBabatunde Samuel Olagbaju Credit Portfolio Mgt & Regulatory Compliance Gbolahan Muyiwa Ogundipe Foreign OperationsUche Messiah Olowu CBG Energy-Upstream/Oil Service Onazi Onaziogebe Delta ZoneFrancis Osemeke Onwuemele Apapa I Zone Ifeanyi Columbus Opara CBG-Energy Int'l/Regional Oil Traders/NNPCJacob Adeoye Orimoloye Apapa II ZoneAyo Sunday Osunbunmi Group Corporate Strategy/Business

TransformationYejide O. Runsewe Ibadan ZoneAbdulrazak Sadiq Salau Maiduguri Zone Rabiu Fagge Tata Abuja Main Pekun Matthew Tonade Information TechnologyGeorge Imoh Udoh Ikwerre Road, Port-HarcourtMaria Nyong Etim Udoh Uyo ZoneJoseph Obiajulu Umeh, Onitsha I Zone

GENERAL MANAGER, SOUTH AFRICA - Olufemi Okanlawon

HEAD, CORPORATE AFFAIRS - Francis D. Barde

Board Of Directors

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Udoma Udo UdomaChairman

Oyinkan AdewaleExecutive Director

Adekunle Mickey AdeosunExecutive Director

Ibrahim Abubakar KwarganaExecutive Director

Richard Kramer Director

Richard Burrett Director

James Macarthur Director

Board Of Directors

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Emeka EmuwaGroup Managing Director

Mansur Ahmed Director

Onikepo Akande Director

John C. Botts Director

Cyril Akporuere Odu Director Director

Yemi Osindero Dickie Agumba Ulu Director

Douglas Tawanda Munatsi Director

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Introduction

Distinguished shareholders, ladies and gentlemen, you are welcome to the forty-fourth Annual

General Meeting(AGM) of your Bank, Union Bank of Nigeria PLC. This is the first time I am

presenting the Bank's Annual Report and Financial Statements to you, having just been

appointed the Chairman of the Board of Directors of the Bank.

I am also using this opportunity to welcome our new Group Managing Director, Mr. Emeka

Emuwa, who has taken over from Mrs. Funke Osibodu. I am confident that under his leadership,

the Group will move on to greater heights. On behalf of the Board of Directors of the Bank, I

would like to thank Mrs. Osibodu for her immense contributions to the stabilization of the Bank

during the period of intervention by the Central Bank of Nigeria as well as the recapitalization of

the Bank.

stIn presenting the annual report for the year ended 31 December, 2012, I will start with a review

of the environment in which the Group operated in 2012.

The Global Economy

The year 2012 was characterized by austerity in the developed economies, slowdown in the emerging markets, and recession in the

Eurozone. According to the International Monetary Fund, world output grew by 3.2% in 2012, down from 4% in 2011; 5.1% growth was

recorded by emerging markets and developing economies (including Sub-Saharan Africa at 4.8%) while the advanced economies grew

by a mere 1.3%. The sluggish economic growth in the United States and Japan, coupled with the contraction in the Eurozone, impacted

adversely on growth in the developing economies.

The threat of disintegration of the Euro area on account of the worsening Eurozone debt crises has been contained with a number of

policy initiatives that were undertaken in 2012. These include the Outright Monetary Transactions (OMT) programme and actions taken

towards greater fiscal integration and coordinated financial supervision and regulation. Notwithstanding these stabilizing measures,

increasing unemployment and recession in the Eurozone, while lowering global inflation, have caused a fall in global aggregate demand.

The Nigerian Economy

The Nigerian economy grew by 6.61% in 2012, down from7.43% in 2011, nevertheless outperforming Sub-Saharan economic growth,

which averaged 5% in 2012.

Fortunately, growing security challenges do not appear to have adversely affected investment flows into Nigeria. In the first nine months

of 2012 alone, portfolio investments and foreign direct investment totaling US$4.6 billion and US$1.44billion, respectively, came into

Nigeria. Foreign investors controlled an average of 60% of all trading conducted in 2012 on the Nigerian Stock Exchange.

Inflation, which averaged 12.3% in 2012, was attributable to cuts in fuel subsidy as well as increases in import and electricity tariffs.

Exchange rates fluctuated between N155/US$ and N160/US$ in 2012.

In November 2012, Standard & Poor's raised Nigeria's long-term foreign and local currency sovereign credit ratings to BB-, thus

reversing the August 2009 downgrade.

The Banking Industry

CBN data indicates that average prime lending rates increased from 16.7% in the fourth quarter of 2011 to 17.4% in the fourth quarter of

2012. Similarly, average term deposit rates increased from 5.7% to 7.7% over the same period.

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Key policy developments in the banking industry in 2012 include:

� ? Increase in minimum Capital Adequacy Ratio (CAR) requirement for international banks from 10% to 15%, while retaining

CAR for regional and national banks at 10%

� ? Reduction of Net Foreign Exchange Open Position from 3% to 1% of Shareholders' Funds

� ? Removal of Automated Teller Machine (ATM) fees for transactions conducted on third-party ATMs

� ? The “Cashless Lagos” programme which commenced in April 2012 and limited free cash withdrawals and lodgments by

individuals and corporates to N500,000 and N3,000,000, respectively, in Lagos State. This initiative is expected to increase

Point-of-Sale terminal penetration and usage and push awareness and usage of other electronic channels like Direct Debit,

Electronic Funds Transfer, Mobile payments, ATMs, etc.

� ? The launching by the CBN of the National Financial Inclusion Initiative in the fourth Quarter of 2012, with the overall goal of

reducing the level of financial exclusion from 40% in 2012 to 20% by 2020.

� ? The introduction by the CBN, in conjunction with the Bankers’ Committee, of a Shared Services programme with three key

objectives: the reduction of industry cost-to-serve by 30%; increase of access, convenience and service levels across the

industry; and the achievement of greater financial inclusion and integration of financial services into the economy, with

the attendant positive impact on economic development.

Awards & Recognitions

It gives me great pleasure to inform you that your Bank won the following awards in the course of the year:

� ? The Bank with the Highest Volume of Financial Instruments for the Year 2012 in Kaduna zone.

� ? The Bank with the Highest Value of Financial Instruments for the Year 2012 in Kaduna zone.

� ? Best Bank in Agricultural Financing for the Year 2012 in Kaduna zone.

� ? Most Punctual Bank Representative in Clearing in Yola zone.

� ? Best Supporting Bank for Agricultural Programmes under the Agricultural Credit Guarantee Scheme Fund (ACGSF) – First

position in Enugu zone

� ? Best participating Deposit Money Bank in CBN Agricultural Financing in Enugu State for 2012

Change in Control at Union Bank

As was reported to you last year, the Asset Management Company of Nigeria (AMCON) provided bridge capital to recapitalize the Bank,

for which AMCON was allotted 6,593,956,249 shares in addition to the 3,394,407,265 shares allotted for bringing the Bank's Net Assets

Value to zero. It was also reported that Union Global Partners Limited (UGPL) was to provide capital injection to swap for the bridge

capital finance and the underlying shares being held by AMCON.

I am delighted to report that during 2012, UGPL completed the swap of the bridge capital finance and the underlying shares. As a result,

UGPL's ownership in your Bank has thus increased from 26.07% at the end of 2011 to 65%, thus making UGPL the Bank's core investor.

Changes on the Board

The membership of the Board of Directors has been expanded with the following board appointments:

a) Senator Udoma Udo Udoma (replacing Dick Kramer) as Chairman

b) Mr. Emeka Emuwa as Group Managing Director/Chief Executive

c) Mrs. Oyinkan Adewale as Executive Director/Chief Financial Officer

d) Mr. John C. Botts as Non-Executive Director

e) Mr Richard Burrett as Non-Executive Director

f ) Mr. Douglas Munatsi as Non-Executive Director

g) Mr. Cyril Odu as Non-Executive Director

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h) Mr. James Macarthur as Non-Executive Director

I wish to use this opportunity to thank Mr. Richard Kramer, who has stepped down as Chairman, for his leadership of the Board in

2012. Also, early this year, one of our executive directors, Mr. Philip Ikeazor was appointed the Group Managing Director of

Keystone Bank PLC. He has therefore, consequent upon the appointment, resigned from the Board. I also thank Mr. Philip Ikeazor

for his contributions to the stabilization and recapitalization of the Bank.

Transformation Programme

The problems that plagued our Bank and which led to its declining fortunes included lack of capital, poor credit and risk

management, poor systems and under investment in infrastructure and technology. Now that the Bank has been fully recapitalized,

our task is to rebuild Union Bank. Our motto has always been: Big, Strong and Reliable. The Board has worked with Management to

evolve a transformation programme that will tackle all the issues militating against our Bank's progress. We have come up with

initiatives that are necessary to improve service delivery, support planned business growth, improve productivity, create a lean and

agile bank, reduce operating costs, and ultimately deliver value to our shareholders. In transforming the Bank, we will strengthen risk

management practices and entrench sound corporate governance principles. Our marketing strategies will consolidate the

relationships the Bank has had with our long-time customers. We will also seek to attract many new customers, including members of

the younger generation.

The delivery of reliable customer service is at the core of our transformation strategy. In 2013, we will be making major investments

in our people, systems and infrastructure so as to revamp the Bank's physical structures, rebuild our systems and upgrade our people.

We are determined to ensure that the Bank will once again be able to deliver excellent and reliable services to all our customers.

We are extremely grateful to our customers for their loyalty, even through the troubled times. We are confident that as we quickly

conclude our transformation programme, our customers will all be happy to have made the wise decision to stay with us. We are

determined to bring you services of the highest quality.

Financial StatementsstIn compliance with current regulations, the Group's annual report and financial statements for the year ended 31 December, 2012

have been prepared in accordance with the International Financial Reporting Standards (IFRS).

I am delighted to report that the Group and the Bank recovered from a loss position and recorded profits in 2012; with Profit Before

Tax of N9.060bn for the Group (a significant improvement from the loss of N107.684bn in 2011) and a Profit Before Tax of

N8.119bn for the Bank (against a loss of N102.633bn in 2011). As you know, your Bank sold a substantial part of its loan book to

AMCON in 2010. Subsequently, due to lack of capital and other factors, the rebuilding of the loan book has been approached with

utmost caution. At the end of 2012, your Bank's Gross Loans stood at N148.79bn, representing a Loan: Deposit ratio of 31%. Our

challenge this year is to rebuild the loan book; in doing so we will move apace with the implementation of service delivery initiatives

while strengthening our credit management capabilities. I am happy to report that in 2012, the Bank recorded 21% growth in st stcustomer deposits, which stood at N482.005bn at 31 December 2012 against a customer deposit base of N399.775bn as at 31

December 2011.

Although the Bank was profitable in 2012, no dividend is being proposed because of the deficit of N266.86bn in the retained earnings

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account at the end of the year. Sections 379(5), 380(b), and 386 of the Companies and Allied Matters Act require the Bank to make

whole any deficit in the revenue reserves before dividends can be paid.

It is noteworthy that not withstanding the deficit in the retained earnings account, the Bank's shareholders' funds stood at a positive

N171.67bn at the end of 2012, representing a Capital Adequacy Ratio of 20% against the minimum requirement of 15% for

international banks.

These financials attest to the fact that your Bank is firmly on the path to recovery. Please join me in congratulating the management

and staff for their hard work and commitment.

Conclusion

Finally, on behalf of the Board, I would like to thank our various stakeholders for the support they gave to the Bank during the

intervention period and to solicit your continued support as we reposition the Bank for improved performance. Distinguished

shareholders, let me reiterate that the Bank still has a lot going for it, including loyal customers, an iconic brand, a rich heritage, a

large customer base, an extensive branch footprint and great people.

Thank you.

Senator Udoma Udo Udoma

Chairman

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It is my pleasure to welcome you to this Annual General Meeting.

2012 was a year of transition for your Bank from the Central Bank of Nigeria appointed management team to the core investor-appointed management team. This transition ushered me in, last November, as the Group Managing Director of your Bank.

I have been impressed by the warm welcome and words of encouragement that I have received from all stakeholders since my resumption in office. On your behalf and on behalf of the Board, management and staff of the Bank, I would like to thank Mrs.Osibodu for her outstanding services to your Bank and wish her success in all her future endeavors.

The resolution of your Bank's capital deficiency and the stabilising actions undertaken by the CBN appointed management team, have laid the foundation for rebuilding the Bank for growth and profitability. This is beginning to manifest with the return of the Bank to profitability in 2012.

Notwithstanding costs relating to the recently concluded recapitalisation and cleanup of the Bank's loan portfolio, I am happy to report that your Bank's and Group's 2012 results showed a profit and importantly, recorded improvements in most performance indices as compared to 2011. Gross Earnings increased by 35% and 33% to N96.5 billion and N112.8 billion for the Bank and Group respectively. Improvements in productivity trimmed 9% from 2011 operating expenses of N73.2 billion for the Bank and 14% for the Group respectively. Consequently, 2012 profits for the Bank and Group were N8.1 billion and N9.1 billion respectively, a marked improvement from the loss of N102.6 billion and N107.7 billion recorded for 2011. Earnings per share were subsequently 46 kobo and 61 kobo for the Bank and Group respectively for 2012. The Bank's Total Assets of N886 billion at the end of 2012 grew by 7% from N827 billion at the end of 2011 while the Group's Total Assets were N1,033 billion at the end of 2012 as against N1,055billion at the end of 2011.

Since my resumption last November, the management team has worked extensively with the Board of Directors to develop and execute a transformation program to further improve the performance of your Bank. In recognition of the importance of customers to the success of your Bank, the management team has placed reliable customer service at the hub of our transformation plan and our longer term strategy. The transformation program, which is under execution, rests on seven pillars: Business Model; People and Culture; Risk Management; Finance and Performance; Operations; Information Technology; and Cost Management.

2013 is the year in which we will accelerate the rebuilding of the Bank for improved performance and restructure the Group in line with CBN Regulation 3 of 2010. To this end, we will be revamping our processes and systems, while continuing to invest in our people to ensure your Bank is well positioned to take advantage of the opportunities in a growing Nigerian economy.

We are at the start of a journey and my management team and I are confident that as we address the problems that had hitherto hindered the progress of your Bank, we will be able to leverage our rich heritage to project into a promising future.

Thank you

Emeka EmuwaGroup Managing Director

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For close to a century, the Bank created a niche for itself by giving back to its society in varied forms and has thus built a strong goodwill in Corporate Social Responsibility (CSR).

Union Bank of Nigeria PLC strongly believes in the business axiom that every corporate citizen should identify with the aspirations of the community in which it operates, and be responsive to the people in the areas of genuine and clear needs. It, therefore, acknowledges its responsibility to the Nigerian society, generally by contributing to its development and enrichment.

Through its zonal offices, Union Bank maintains interactive approach to the welfare of the communities and continuously seeks ways of meeting the aspirations of the people. It continues to identify with the society in which it operates in recognition of the fact that it depends on the society for survival, sustainability and support.

From business growth, healthcare improvement, infrastructure development, security support, educational facilities upgrade, sports enhancement to community projects assistance, Union Bank's CSR initiatives remain legendary and continue to receive commendation from government and the private sector .

EducationThe Bank, in its efforts to boost the nation's educational development, has been very supportive in equipping tertiary institutions with information and communication technology (ICT) infrastructure. Over 30 tertiary institutions in the country (both State-owned and Federal-owned Polytechnics and Universities) have benefitted from its educational project. As part of efforts to equip schools with necessary tools, the Bank donated a 16-seater Hiace Bus to the Polytechnic, Nekede and had sunk boreholes in some schools in order to provide portable drinking water for students.

The Bank has at various times in the past, made substantial financial contributions to the Lagos Business School in addition to donating computer equipment and books worth several millions of naira to colleges and institutions, including primary and secondary schools periodically.

thTo commemorate the Bank's 70 anniversary in 1987, the Bank funded for five years, the endowment of three professorial chairs for Banking and Finance, Agriculture and Computer Technology at the Federal Universities of Akure, Owerri and Minna. The three universities equally received substantial sums annually to boost their Banking and Finance, Agriculture and Computer Technology programmes during the period.

HealthcareIn the healthcare sector, the Bank has, on its own, built and/or contributed immensely in building several medical centres and clinics nationwide such as the Health Centre at the University of Benin, Edo State, and the Sickle Cell Centre, Idi-Araba, Surulere, Lagos State. Only recently, it renovated the Doctors' Lounge at the Lagos University Teaching Hospital (LUTH).

It had, in the past, presented various medical equipment worth several millions of naira to the Child Care Trust, meant to enhance the execution of the then First Lady, late Chief (Mrs) Stella Obasanjo's programme for transmitted diseases infection in Africa (ICASA 2005).

Furthermore, the Bank has supported and continues to support health institutions in the country in various ways such as the donation of a Toyota Hilux security vehicle to the Lagos University Teaching Hospital (LUTH), Idi-Araba.

Apart from providing these clinics with necessary medical and engineering equipment, the Bank regularly supports/sponsors campaigns aimed at improving health and healthy living e.g. cancer care, heart disease/care campaigns and the fight against HIV/AIDS. The Bank had also saved the lives of many Nigerians from all manners of life threatening ailments including heart, kidney, liver and spinal cord diseases through donations and direct support.

Safety and SecurityIn keeping with its policy of being its brother's keeper, the Bank has a robust fire-fighting outfit to assist in combating fire incidents within the Lagos Island metropolis.

In a practical demonstration of its commitment to this course, the Bank committed a huge sum of money to acquire a state of the art fire-fighting and rescue equipment, known as CCS Bronto Skylight F42 HDT (Heavy Duty Truck) with aerial ladder platform, the first-of-its kind in the sub-Saharan Africa. The equipment, which is rated as the best in Lagos State and Nigeria has the capacity to ascend heights over 42 metres.




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Since its acquisition, the Bronto has been used successfully to put out fire and rescue occupants of strategic buildings on the Lagos Island and its environs with the tallest skyscrapers in the country. Specifically, NICON House, UBA House, NPA House and the PHCN Building were rescued from fire destruction by the Bank's fire-fighters with the aid of the equipment. Over 35 towers in Lagos with varying degrees of fire out-breaks have been saved by the sheer visionary investment in this strategic equipment by the Bank.

Aside from the bronto, the Bank has proven its good corporate citizenship in the area of security. It donated five Toyota Hilux double cabin security vans to the Lagos State Police Command. This was sequel to an earlier appeal for assistance in terms of facilities made to all Banks in the country by Mr. Mike Okiro, then Lagos State Police Commissioner (and later, Inspector-General of Police – now retired).

With the donation of the security vehicles, the Bank blazed the trail of being the first of its kind in the history of the command. A very appreciative Mr. Okiro commented that, ”the initiative to donate security vehicles to the Lagos State Police Command is the first of its kind in the history of the command and indeed, a novel phenomena in the banking system”.

Aside the foregoing, the Bank has continued to support the different State Police Commands and stations in various ways such as the donation of communication equipment, etc, and also, made substantial contributions to the Security Trust Funds set up by some States of the Federation like Lagos, Edo, Anambra and Abia States, including the N60 million donated to the Lagos State Security Trust Fund.

Sports DevelopmentIn the area of sports development, Union Bank claims to have a reputation of being one of the most consistent and most dependable contributors to the development of sports in Nigeria.

The involvement of the Bank in organized sports dates back to the 50s when Barclays Bank DCO encouraged healthy sporting competitions among its staff members. Friendly games of football, table tennis and hockey enjoyed first at the branch offices, have always been supported and encouraged by the Bank.

It is quite clear that the Bank has been motivated in these sporting activities by its sense of responsibility and a wholesome commitment to the well-being of its staff, customers and even the Nigerian public. In 2005, the Bank set another pace yet to be matched by competition, with the commissioning of its re-modeled ultra-modern, multi-purpose sports club with facilities for football, hockey, basketball, table tennis, billiards, squash, tennis, swimming and a fully equipped gymnasium, among others.

It is the only Bank that has established a sports complex that matches international standard and the first bank to establish football, basketball (men) and hockey teams, of which the first two participate in the respective national leagues. In addition, the Bank financed the construction of a modern basketball pavilion at the University of Nigeria, Nsukka, Enugu State and renovated Union Bank Tennis Court at Enugu Sports Club. Also, it has made substantial financial contributions towards the sponsorship of golf, table tennis and lawn tennis tournaments as well as supporting schools and States in numerous sporting activities.

It has always and continues to support the Nigeria Special Olympics, an NGO catering to the diverse needs of special persons with various disabilities. This is part of the Bank's policy which encourages challenged persons to demonstrate their limitless potentials despite all odds.

Humanitarian support/beautification

The Bank made substantial donations to crisis ridden areas in a bid to alleviate the suffering of the citizenry. For instance, the flood victims in flood ravaged States of the Federation, earthquake victims in Haiti Republic, the victims of religious riots in Jos as well as the petrol tanker disaster victims in Gombe all benefitted from the Bank's generosity. Similarly, the Bank sponsored the 2010 May Ball of the Nigerian Society for the Blind, gave the Paiko roundabout in Minna, Niger State, a face-lift with the total renovation, which serves as a gateway into the State capital, and assisted the Lady Mechanic Initiative in acquiring land for its permanent workshop site for the training and empowerment for young ladies in mechanical skill acquisition.

Aside the foregoing, the Bank has demonstrated its large heart and generosity in terms of sponsorships and donations to social clubs, chambers of commerce and industry, professional bodies, youth empowerment programmes, government agencies, non-governmental organizations (NGO), humanitarian causes, telecom/technology-based programmes, to mention a few.

Union Bank continues to consciously engage in adding value to the society in which it operates. Given its antecedents, Union Bank will continue to structure its CSR initiatives to maximize the overall impact on its host communities.




SUBSIDIARIES, ASSOCIATES, AFFILIATES

Union Bank of Nigeria PLC is a financial group, with subsidiaries and associate companies specialising in banking, mortgages, insurance, trusteeship, stock brokerage, property development, courier service, venture capitals/SME financing and discount house business.

There are nine subsidiary companies and three associates. Subsidiary companies are companies in which the Bank has direct or indirect controls; holding a majority of the shares of the company that is more than 50% holding.

Associate companies on the other hand are companies in which the Bank has a significant influence and which are not a controlled entity.

A. BANKING

UNION BANK UK PlcUnion Bank UK plc (UBUK), ranked No.1 UK bank for 4-year Average Profit Before Tax Growth for two years consecutively, 2012 and 2013, is a wholly owned subsidiary of Union Bank of Nigeria PLC. It commenced

thtrading as a UK Bank on 4 October, 2004, following receipt of authorisation from Financial Services Authority (FSA). Before then, it operated as a branch of Union Bank and provided services to the Bank's international business oriented customers for over 25 years.

UBUK offices are located at 14-18, Copthall Avenue, in the heart of the city of London, the world's leading centre for international trade and finance from where it provides unrivalled banking services to customers doing business from and into Nigeria and other West African countries. It has a Representative Office located on the 2nd floor, Plot 1668B Oyin-Jolayemi Street, Victoria Island, Lagos, Nigeria.

Its correspondent banking network provides global reach for customers engaged in international business as it opens the door to worldwide trade with comprehensive services needed to maximise international opportunities and minimise risks.

Its products include:

Letters of Credit

Bid and Performance Bonds

Guarantees

Import and export finance

Foreign exchange and treasury services

Personal and business banking

Pre-paid Mastercard

International payments and money transfers

Correspondent banking

Commercial lending and project finance

Personal lending subject to status

Structured Finance

Buy-to-Let mortgages

UBUK is also a two-time winner of the Deutsche Bank US dollar STP Excellence Award in 2011 and 2012 consecutively.

The management team is headed by Dr Adekola Ali, Managing Director/Chief Executive Officer.

SOUTH AFRICA REPRESENTATIVE OFFICE (SARO)South Africa Representative Office was established in 1996 in Johannesburg, South Africa (SA) as part of the bank's vision of extending its international representation and avail South African business its knowledge of business terrain and boundless business opportunities available in Nigeria.

The Representative Office is more or less an advertisement window for the bank to exhibit our capability and strength to compete and collaborate with foreign Banks that dominate South Africa in terms of service delivery and product availability.

The benefits of the Representative Office are as follows:

� Increased International visibility of South Africa and the SA sub-region

� Easy access and contract with international banks and manufacturing companies with operations in South Africa.

� Opportunity to advise Head Office of new banking developments and products in South Africa

� Identification of viable business opportunities and linking of potential trade and investment partners

� Facilitation of exploratory visits for business and investment in Nigeria and South Africa by arranging appointments with relevant organizations in both countries

� Managing all existing clients' relationship� Marketing of products and services of Union Bank and those of the

subsidiaries

Mr. Olufemi Okanlawon is in charge of the office.

B. CAPITAL MARKETS

UNION CAPITAL MARKETS LIMITEDUnion Capital Markets Limited was incorporated as a direct subsidiary of

stUnion Merchant Bank Limited on 21 December , 1999 as Union Stockbrokers Limited and licensed by the Securities and Exchange Commission as well as the Nigerian Stock Exchange to deal in shares and stocks on all floors of the Exchange.

The name of the Company was subsequently changed to Union Capital thMarkets Limited on 9 January, 2006 following the acquisition of Union

Merchant Bank Limited by Union Bank of Nigeria Plc, a consequence of

*

18




the consolidation exercise in the banking industry. Thus, the Corporate Finance department of Union Merchant Bank Limited along with the human capital resources responsible for over thirty (32) public offers handled and culminating in the winning of the best Issuing House awards for two (2) consecutive years, was fused with Union Stockbrokers Limited to form Union Capital Markets Limited and its scope of operation expanded to a non-bank investment banking outfit.

As a key player in the capital markets and registered with the Securities and Exchange Commission and the Nigerian Stock Exchange, the Company offers the following major products and services:

? Capital Markets: Raising of funds for corporations, governments

and MDAs through equities and fixed income securities,

derivatives, placement and underwriting.

? Financial Advisory: Mergers, Acquisitions, Divestitures,

Structured Products, Capital Structures, Valuation, Due Diligence

? Stockbrokerage/Nominee Services: Trading on behalf of third

parties in equities, fixed income, mutual funds and nominee

services.

? Assets/Funds Management: Pension Funds, HNIs, Portfolio

Management, Hedging and Restructuring.

? Principal Investment Activities: Proprietary Trading in equities,

fixed incomes, derivatives and money markets.? Research: Company/Industry Research, Economics, Investment

Strategy, Modelling, Market Analysis.

The management team is headed by Mr. Tunde Yamah as Managing Director/Chief Executive.

UNION REGISTRARS LIMITEDUnion Registrars Limited is Nigeria's premier share registration company, starting as a department of Barclays Bank DCO West Africa in 1959 and incorporated as a distinct corporate entity in 2003.

The Company has extensive experience in; managing capital issues, setting up shareholders' and bondholders' registers, administering corporate actions and delivering Investors Relation Services on behalf of over forty (40) client companies.

Union Registrars Limited also deploys a robust technology and human capital base, spread over a Twelve (12) branch network across the six (6) sub-regions of Nigeria, to deliver these services, efficiently.

Mr. Babatunde Ayeni is the Managing Director/Chief Executive/Registrar

UNION TRUSTEES LIMITEDUnion Trustees Limited (UTL) formerly known as Barclays (Nig) Nominees Ltd was incorporated in 1966. The company, a wholly owned subsidiary of Union Bank of Nigeria Plc is duly licensed and

registered by the Securities and Exchange Commission as Trustees, Fund/Portfolio Managers. UTL has an authorized share capital of N1billion and a paid-up share capital of N600million. A pioneer in trusteeship business in Nigeria, Union Trustees continues to play a significant role in the sector within the country, with expertise in Bond Trusteeship, Security Trusteeship, Private Trust services and several other trust arrangements. The company's Board of Directors consists of seasoned and experienced professionals under the chairmanship of Mrs. Oyinkan Adewale, Executive Director/ Chief Financial Officer, Union Bank of Nigeria PLC, and Mrs. Oluseyi Olufunke Aiyepola as the Managing Director/Chief Executive.

C. MORTGAGE AND PROPERTY

UNION HOMES SAVINGS & LOANS PLCUnion Homes Savings and Loans PLC, the mortgage banking subsidiary of Union Bank of Nigeria PLC, was incorporated in 1992 with an authorised share capital of N50million and this has since increased to N10 billion with paid up capital of N3.9 billion. In May 1994, the Primary Mortgage Institution (PMI) was granted an operating license, and in August of the same year, it commenced full mortgage banking operations at its head office and premier branch located at 153 Ikorodu Road, Onipanu, Lagos.

Since 1995, Union Homes has opened 27 branches in several parts of the country including Lagos, Kano, Abuja, Ibadan and Port Harcourt, etc.

Union Homes has been collaborating with state governments to develop viable housing projects for workers in their respective states. It had also floated a hybrid Real Estate Investment Scheme (REITs) which is the first of its kind in Nigeria. The Trust is aimed at stimulating and sustaining Mass home ownership at different levels of income brackets by making mortgages accessible to millions of Nigerians and in the long run, bringing down the cost of funds to beneficiaries of mortgage loans.

The company was listed on the Nigerian Stock Exchange on April 24, 2006 and investors have been trading in the stock. The company won the prestigious Stock Exchange President’s Merit Award in 2006 and 2007. It has 50% investment in the equity of Saffer Union (West Africa) Limited, a company which operates with Distribution and Warehousing Network Limited, Johannesburg, South Africa in selling housing related materials in the joinery, plumbing and sanitary sectors.

The company has Mrs. Pearl Kanu as its Ag. Managing Director/Chief Executive.

UBN PROPERTY COMPANY LIMITEDUBN Property Company Limited is a limited liability company, which has been in operation since 2003. The company is owned by Union Bank of Nigeria PLC, Union Homes Savings & Loans PLC, Union Assurance Company Limited and others.

The principal activity of the company is real estate management. Its services

*

19




include construction and sale of residential and commercial properties for both corporate and private clients. It also offers other real estate services, which include property management, valuations and real estate development consulting.

The company currently manages properties belonging to the parent company, Union Bank of Nigeria PLC, its subsidiaries and affiliated companies, and it is currently re-positioning to be amongst the leaders in the real estate industry.

Engr. Oluwatosin Osikoya, Managing Director/Chief Executive, leads the company's management team.

D. INSURANCE

UNION ASSURANCE COMPANY LIMITEDUnion Assurance Company Limited, an Associate of Union Bank of Nigeria PLC, was registered as an insurer on November 18, 1993 and commenced business in 1998. It is Nigeria's first bank-owned underwriting firm.

Its shareholding spreads among Union Bank, institutional investors, high net work individuals and other individual shareholders. It is licensed to write both life and non-life insurance business and its financial services include bonds, money-in-transit, cash-in-transit, etc.

Union Assurance has in its employment some of the best professionals from various fields, all engaged in core competencies that add value to overall output, while a change management has re-engineered the businesses processes and people culture, bringing about competitive advantages.

With an authorized capital of N10 billion and shareholders' funds in excess of N5 billion, the company provides customized and efficient risk management solutions, which support business growth, individuals and groups.

Union Assurance as part of its strategic change process is implementing a cutting edge IT-enabled business solution made up of process automation and integrated insurance software extending to the web. The system will enable customers and brokers access services online. Other IT deliverables include electronic funds transfer system and Micro Insurance services enabled by mobile technologies and POS systems.

The company has 23 branches nationwide, with seven Representative Offices and scores of agency offices across Nigeria.

Mr. Godwin Odah, leads the management team as the Managing Director/Chief Executive.

UBN INSURANCE BROKERS LIMITEDUBN Insurance Brokers Limited is a subsidiary of Union Trustees Limited and a member of Union Bank Group. UBN Insurance Brokers Limited was

*

incorporated with the name First Universal Insurance Brokers Limited in 1992, a wholly owned subsidiary of UTB Trustees Ltd and a member of the then UTB Plc commenced full operations in 1993 having been duly licensed by the National Insurance Commission (NAICOM).

Following the acquisition of the then UTB Plc by UBN PLC, the Company's name was changed from First Universal Insurance Brokers Limited to UBN Insurance Brokers Limited in 2009. UBN Insurance Brokers Limited as a member of the Nigerian Council of Registered Insurance Brokers (NCRIB) is committed to ensuring that all risk exposure of the group, valued customers and insuring public are adequately covered at no extra cost and that losses whenever they occur are speedily settled by insurers.UBN Insurance Brokers Limited can deliver unparalleled insurance broking services in both:? Life (Individual & Group)? Non-Life (General & Special Risk)

The management team is headed by Mr. Tunji Orisabinone as Managing Director / Chief Executive.

E. SPECIALISED FINANCIAL INSTITUTIONS

CONSOLIDATED DISCOUNT LIMITED (CDL)Consolidated Discounts Limited (CDL) was incorporated on 16th November 1995 as a limited liability company, and was licensed by the Central Bank of Nigeria on August 14, 1996 to carry out the functions of a discount house which is to trade in and hold treasury bills, commercial bills and other financial securities.

CDL is wholly owned by a consortium of six Nigerian banks led by Union Bank of Nigeria PLC and Mainstreet Bank PLC. Others are First Bank of Nigeria PLC, Skye Bank PLC, Triumph Bank Ltd, Access Bank PLC, William Street Trustees and CDL Staff Cooperative. For the period under review, CDL products and services include:

? Rediscounting services

? Fund management

? Consofund call investment

? Consofund treasury bill backed investment

? Consofund promissory note backed investment

? Commercial bill backed investment

? Government bond secured investment

? Conso liquidity manager

The management team of the company is headed by Mr. Adeleke Mudashiru Shittu as the Managing Director/Chief Executive.

UNIQUE VENTURE CAPITAL MANAGEMENT COMPANY LTDUnique Venture Capital Management Company Limited (UVCML) is an SME-focused private venture capital investment firm established in 2004 by five major Nigerian banks namely:

? Union Bank of Nigeria PLC 20%? Afribank PLC 20%

20




? NAL Bank PLC 20%? Afribank International 20%? Union Merchant Bank 20%

However, with the consolidation of banks, the shareholding structure became Union Bank (40 per cent), Mainstreet Bank (40 per cent) and Sterling Bank (20 per cent). Primed for leadership from the onset, Unique Venture Capital Limited has an authorised share capital of N150 million and was primarily conceived to manage amongst other funds, the funds set aside by its owner institutions under the SMEEIS programme.

The company pursues this obligation through the “UVC SMEEIS Fund” with aggregate take-off capital commitment of N6billion. The strategic intent of the company is to facilitate economic growth by providing the funding and institutional support for unleashing the Nigerian entrepreneurial spirit and creating value for stakeholders. Today the company has obtained investment approvals for 53 projects with investment value of N3.812 billion.

UVC was adjudged the Best Venture Capital Company in Nigeria by the Central Bank of Nigeria in January 2009 for the magnitude, spread and quality of UVC's SME investments.

UVC is also the Fund's Manager of the West Africa Venture Fund LCC (“WAVF”), an investment fund with a US$40 million target to provide capital financing to emerging growth in small and medium enterprises (“SMEs”) in Liberia and Sierra Leone. The WAVF now has functional presence and offices in both countries.

The management team is led by Dr Anthony Osa Oboh as Managing Director/Chief Executive.

F. OTHERS

UNION EXPRESS LIMITED Union Express Limited, a subsidiary of Union Registrars Limited,was incorporated on October 29, 2007 and commenced full operations on the June 16, 2008.

The company is duly licensed by the Nigerian Postal Service to operate courier services locally and internationally with its Head Office at 32 Wharf Road, Apapa, Lagos.

The creation of Union Express Limited was a deliberate act by Union Registrars Limited aimed at providing solutions to complaints by shareholders as to the late delivery of their correspondences and the ever increasing demands of the Securities and Exchange Commission (SEC).

Union Express Limited is a complete Logistic Solution Provider, specializing in the delivery of capital market documents, haulage and general courier services, e.g. Annual General Meeting Reports, Extra-Ordinary General Meeting Notices, Public Offer Parcels, ShareCertificates, Dividend Warrants, mails and parcels of all shapes and Rights Circulars.

Union Express Limited is well represented in 27 state capitals from where

it delivers to over 1,000 cities and towns in Nigeria, and also has registered contracts in all Union Bank branches nationwide.

Mr. Ifeanyi M. Akpala, the Managing Director/Chief Executive, heads the management team.

SAFFER-UNION (WEST AFRICA) LIMITEDSaffer-Union (West Africa Limited) Ltd was incorporated in 2003 and commenced business in April 2004. The company is a joint venture between a member of Union Bank Group and Distribution and Warehousing Network Group of South Africa.

The two groups through their subsidiaries, Union Homes Savings and Loans PLC and Africa Swiss Trade, respectively have equal shareholding representing 50 percent each in the company, which predominantly is a leading distributor of good quality building and sanitary materials in Nigeria with prospects of capturing the West African market.

The core brands of Saffer-Union include FRANKE, ISCA, PLEXICOR, LIBRA, KWIKOT, SWARTLAND, ASSA ABLOY, DPI PLASTIC, COBRA and VAAL products. A technical Agreement is in place between Saffer-Union and the DAWN Group in order to leverage on their expertise, having controlled a large share of the market in South Africa before foraying into the West African sub-region.

Mr. Ian Tittley is the Managing Director/ Chief Executive.

21







CORPORATE GOVERNANCE

Introduction

Corporate Governance practices in Union Bank of Nigeria Plc are as codified in the Central Bank of Nigeria Code of

Corporate Governance 2006, the Securities and Exchange Commission Code of Corporate Governance 2003, the Banks' and

Other Financial Institutions Act and other relevant statutes which provide guidance to the governance of the Bank and in

compliance with regulatory requirements as well as the core values upon which the Bank was founded. These codes/statutes

are geared towards ensuring accountability of the Board and Management to the Stakeholders of the Bank in particular and

emphasise the need to meet and address the interests of a range of stakeholders so as to promote the long-term sustainability of

the Bank.

Union Bank of Nigeria Plc is committed to the best corporate governance practices and believes that adherence and

commitment to high governance principles and standards is the panacea for effective control and management of the Bank.

The principle of good corporate governance practices remains one of our core values and an important ingredient in creating,

protecting, promoting and sustaining shareholders' interests, rights and value as well as delivering excellent service to our

customers. The Bank is committed to the highest ethical standards and transparency in the conduct of its business.

In compliance with the requirements of the CBN, the Bank undertakes internal reviews of its compliance with the defined

corporate governance practices and submits reports on the Bank's compliance status to the CBN. An annual Board Appraisal

review is also conducted by an Independent Consultant appointed by the Bank whose report is submitted to the CBN and

presented to Shareholders at the Annual General Meeting of the Bank in compliance with the provisions of the CBN Code.

Governance Structure

The following governance bodies are in place;

A. The Board of Directors

The Bank is managed by a Board of Directors, which comprises a Non-Executive Chairman, eight Non-Executive Directors,

the Group Managing Director/Chief Executive and four Executive Directors as listed below:

1 • Udoma Udo Udoma - Chairman2• Richard Lee Kramer - Chairman

3• Emeka Emuwa - Group Managing Director 4• Olufunke Osibodu - Group Managing Director/Chief Executive

• Adekunle Mickey Adeosun - Executive Director 5• Oyinkan Adewale - Executive Director/Chief Financial Officer

22

23




• Folashodun A. Shonubi 7• Philip Ikeazor - Executive Director

• Ibrahim Abubakar Kwargana - Executive Director

• Adeyemi Osindero - Non-Executive Director

• Dickie Agumba Ulu - Non-Executive Director

• Onikepo Olufunmike Akande - Non-Executive Director

• Mansur Ahmed - Non-Executive Director8• John Botts - Non-Executive Director8• Cyril Odu - Non-Executive Director8• Douglas Munatsi - Non-Executive Director5• James Macarthur - Non-Executive Director9• Richard Burrett - Non-Executive Director

6- Executive Director

1 -Appointed on th27 November 2012 2 -Resigned as Chairman on st 21 February 2013 3 -Appointed on th12 July 2012 with effect from st1 November 20124 -Disengaged on st31 October 2012 and resigned on st31 December 2012 5 -Appointed on th14 September 2012 6 -Resigned on th30 April 2012 7 -Resigned on th28 February 20138 -Appointed th12 July 20129 -Appointed th29 January 2013

Responsibilities of the Board of Directors

The Board, the highest decision making body approved by the shareholders, met seven (7) times during the year to provide

strategic direction, policies and leadership in attaining the objectives of the Bank.

The Board monitors the activities of the Executive Directors and the accomplishment of set objectives through reports at its

meetings. In performing its oversight function of the Bank's business, the Board operates through the following Board and

Management Committees whose composition and functions are listed below:

B. Standing Board Committees

The Board of Directors has four Standing Committees, which deal with specific operations of the Bank, namely: 1. Board Credit Committee

2. Board Finance & General Purpose Committee

3. Board Establishment & Services Committee

4. Board Risk Management Committee

In addition, there is an Independent Audit Committee.

24




1

2

5

3

4

1

2

5

3

4

1 2 3 4 5

st st

th st

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th

th

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26




27




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NAME 26/03/12 24/05/12 10/7/2012 13/09/12 26/11/12

Yemi Osindero X X X X X

Olufunke Osibodu O X X X D

Adekunle M. Adeosun X X X X X

Philip Ikeazor X X X X O

Ibrahim Kwargana X X O X X

Folashodun A. Shonubi O R R R R

Mansur Ahmed X X X O O

(Dr.) Mrs Nike Akande X O O X X

Dickie Agumba Ulu X X X X X

Cyril Akporuere Odu AW X

John Botts AW X

Douglas Munatsi AW X

Emeka Emuwa X

Oyinkan Adewale X

James Macarthur AW

BOARD RISK MANAGEMENT COMMITTEE SCHEDULE OF ATTENDANCE

NAME 26/03/12 9/7/2012 13/9/2012 26/11/2012

(Dr) Mrs Nike Akande X X X XOlufunke Osibodu O X X DAdekunle M. Adeosun X X X XPhilip Ikeazor X X X OIbrahim Kwargana X X X XFolashodun A. Shonubi O R R RMansur Ahmed X O O OYemi Osindero X X X XDickie Agumba Ulu X X X XCyril Akporuere Odu AW XJohn Botts AW XDouglas Munatsi AW XEmeka Emuwa XOyinkan Adewale XJames Macarthur AW

X PresentO AbsentD DisengagedR ResignedAW Awaiting CBN Approval




31

BOARD CREDIT COMMITTEE

ATTENDANCE SCHEDULE

BOARD ESTABLISHMENT COMMITTEE

SCHEDULE OF ATTENDANCE

NAME 26/03/12 9/7/2012 10/9/2012 18/9/2012 26/11/2012

Dickie Agumba Ulu X X X XX X

Olufunke Osibodu X X X XX D

Adekunle M. Adeosun O X X X

Philip Ikeazor X X X X

Ibrahim Kwargana X X X X

Folashodun A. Shonubi O R R R

Mansur Ahmed X O X O

Yemi Osindero X X X XX X

(Dr) Mrs Nike Akande X X X XX X

Cyril Akporuere Odu AW X

John Botts AW X

Douglas Munatsi O X

Emeka Emuwa X

Oyinkan Adewale X

James Macarthur AW

32




D

R

AW

Disengaged

Resigned

Awaiting CBN Approval

BOARD FINANCE & GENERAL PURPOSE COMMITTEE

SCHEDULE OF ATTENDANCE

Mansur Ahmed

Olufunke Osibodu

Adekunle M. Adeosun

Philip Ikeazor

Ibrahim Kwargana

Folashodun A. Shonubi

Dickie Agumba Ulu

Yemi Osindero

(Dr) Mrs Nike Akande

Cyril Akporuere Odu

John Botts

Douglas Munatsi

Emeka Emuwa

Oyinkan Adewale

James Macarthur

X

X

X

X

X

O

X

X

X

X

X

X

O

O

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X

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AW

26/11/201226/03/12 NAME 0/7/2012 10/7/2012 10/9/2012

X

O

XX

Present

Absent

Executive Recruitment Meeting

33




Appropriation:

Transfer to statutory reserve

Transfer to contingency reserve

Transfer to retained earnings

1,178

-

9,144

-

32

(77,700)

1,178

-

6,673

-

-

(76,711)

10,322 (77,688) 7,851 (76,711)

34




Directors

1. The list of the present Directors is stated on page 5.

2. The following Directors retired from the Board since the last Annual General Meeting:

sta. Mrs. Olufunke Iyabo Osibodu - Disengaged on 31 October 2012 and stresigned on 31 December 2012

thb. Mr. Folashodun A. Shonubi - Resigned on 30 April 2012thc. Mr. Philip Ikeazor - Resigned on 28 February 2013

3. Since the last Annual General Meeting, the following Directors were appointed to the Board and being eligible,

offer themselves for re-election:

tha. Udoma Udo Udoma - Appointed wef 27 November 2012thb. Emeka Emuwa - Appointed on 12 July 2012

stwef 1 November 2012thc. John Botts - Appointed wef 12 July 2012thd. Cyril Akporuere Odu - Appointed wef 12 July 2012the. Douglas Munatsi - Appointed wef 12 July 2012thf. Oyinkan Adewale - Appointed wef 14 September 2012thg. James Macarthur - Appointed wef 14 September 2012thh. Richard Burrett - Appointed wef 29 January 2013

4. In accordance with article 90 of the Bank's Articles of Association, the underlisted directors retire by rotation

and, being eligible, offer themselves for re-election:

a. Mansur Ahmed

b. Onikepo Akande

c. Adeyemi Osindero

d. Dickie A Ulu

33,290 27,699 9,920 8,143

14.49%17.36% 5.23%

35




14/3/13

2,819,040

-

-

6,343

-

-

-

2,753

-

28,225

-

1,348

14,906

-

2,661

-

-

- -

th14 March,2013 st31 December,2012 st31 December,2011

James Macarthur

36




Free Float

thThe Bank's free float currently stands at 14.96% and the Nigerian Stock Exchange by a letter dated 12 September th2012 extended the Bank's period of compliance with the free float requirement to 30 of June 2017. The Board has

also been intimated that the Bank is required by the NSE to submit a quarterly compliance plan in this regard.

Share Capital History

37




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.

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40




41




FRC/2013/NBA/00000002061

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45




428

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54 138

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PLC. Williams Street Trustees Limited, the nominees company for Union Bank of Nigeria PLC Staff Pension Fund holds 4.9 % and 16.4 % is held by Union Properties Limited.

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ABIA STATE

1. ABA-FACTORY ROAD1, Factory RoadP.M.B. 7106, AbaTel: 07029081382

ND2. 2 FACTORY ROAD2, Factory RoadRailway Goods' ShedAbaTel: 07029081462

3. ABA-FAULKS ROADMaobison Tower34, Faulks Road, AbaTel: 08058543364, 08035748988

4. ABA-MARKET ROAD58 Azikiwe RoadP.M.B. 7127, AbaTel: 07029081385

5. ABA-MAIN17, Port Harcourt Road, AbaTel: 07029081393

6. ABAYIMerchandise House121 Aba-Owerri RoadP.M.B. 7359, AbaTel: 08033971852, 08035491122

7. ARIARIA MARKET228, Faulks Rd. Ariaria Market Ariara - AbaP.M.B. 7515, AbaTel: 07029081386

8. AROCHUKWU Barracks Road, ArochukwuP.M.B. 542,ArochukwuTel: 08032831297, 08033463100

9. NGWA-ROAD 49a Ngwa Road, AbaP.M.B. 7552, AbaTel: 07029081391

10. OHAFIA Presbyterian MissionHilltopArochuckwu/Ohafia RoadElu, OhafiaTel: 08062350419, 08035058128 11. UMUAHIANo 10 Library AvenueP.M.B. 1195, UmuahiaTel: 07029081383

12. UMUDIKE National Root CropResearch Institute Premises, Umuahia-Ikot Ekpene Road Umudike-Ikwuano LGAP.M.B. 7081, UmuahiaTel: 08038885484, 08033642730

13. UMUOCHAMMerchandise House121 Aba-Owerri RoadP.M.B. 7359, AbaTel: 07029081389-90

ADAMAWA STATE

14. DEMSAYola Road, DemsaP.M.B. 0032, DemsaTel: 080376934799

15. GUYUKGhakawo RoadP.M.B. 104, Guyuk, AdamawaTel: 08023558567

16. GYAWANAOff Numan Gombe RoadGyawanaTel: 08058572807

17. JADAGanye RdJada, AdamawaTel- 08037086931

18. MAYO-BELWAAlong Zing Road Mayo-BelwaP.O. Box 5, Jalingo Rd, Adamawa StateTel: 08036808704

19. MICHIKABama Road Opposite Nitel OfficeP.M.B. 1022Michika, Adamawa StateTel: 08024691887

20. MUBIAhmadu Bello WayP.M.B. 27, Mubi AdamawaTel: 08029137722

21. YOLA MAIN2, Aminu Mustapha WayP.M.B. 2005Jimeta, YolaTel: 08063164445

AKWA IBOM STATE

22. ABAK28 Hospital RoadP.M.B. 1145AbakTel: 08059836332, 08022139545

23. EKET1, Grace Bill RoadP.M.B. 31, EketTel: 07044342179

24. ETE1 Ikot Abasi RoadEte Junction, P.M.B. 049Ikot AbasiTel: 07039423571; 08022367412

25. IKOT-ABASI1, Ibekwe RoadP.M.B. 1046Ikot AbasiTel: 07069393085

26. IKOT-EDIBONNsit Ubium L.G.A.C/o P.M.B. 1065, Ikot Edibon, EketTel: 08022007907, 08023245332, 27. IKOT-EKPENEPlot B, Bank Layout, Opp. Old Stadium Rd.Ikot EkpeneTel: 08037067861

28. OKOPEDIUyo/Oron Rd. Okobo Local Govt. AreaTel: 08035307202, 08064415488

29. QUA IBOE TERMINAL (QIT)Exxon Mobil Terminal Ibeno P.M.B. 1090, Ibeno Tel: 012-799830 Ext. 33360

30. UYO15 Abak RoadP.M.B. 1084, UyoTel 08034063398

ND31. 2 UYOPlot Banking EstateUdo Udoma AvenueOpposite AKS House of Assembly, UyoTel: 08028425151

ANAMBRA STATE

32. ABAGANAOrofia Village/OlympicFactory PremisesP.O.Box 2005Umudum Village, AbaganaTel: 07055058137

33. AJALLI P.M.B. 1010, AjalliOrumba North L.G.A.Tel: 046-666972

34. AWKAOld Enugu Onitsha RoadP.M.B. 500, AwkaTel: 08191986526

35. ENUGU-UKWUUmueze Awobu VillageOld Enugu/Onitsha RoadP.M.B. 3005Enugu-UkwuTel: 07055058139

36. IGBO UKWUEkwulobi/Nnewi RoadP M B 2, Igbo UkwuTel: 08191986531




37. NKPOR 34,New Market Road, NkporAnambra StateTel: 07029081345-6

38. NKPOR21, Park Lane, New Auto Parts Market Tel: 07029081349; 070290813550

39. NKPOR JUNCTION 33,New Market Road,, NkporP.M.B. 1807OnitshaTel: 046-661420-21, 07029081341-42

40. NNEWI MAINEdo Ezennewi Rd, P.M.B. 4, NnewiTel: 046-661429

41. NNEWI (ORAIFITE)138, Nkwo Market NnewiTel: 08191986527

42. EDOEZEMEWI NNEWI 2, Edo Ezemeri Road Nnewi Tel 08191986528

43. OKOEkwulobia-Umunze RoadEzioko Village, P.M.B. 20AguataTel: 07031914391

44. ONITSHA-AJAEGBUEZE STREET1, Ajaegbu Eze Street Off Ozomagala StreetOnitshaTel: 08191525443, 08191525943

45. BRIDGE HEAD ATANI ROAD3, Atani RoadP.M.B. 007, Fegge - OnitshaTel: 07029081347-8

46. ONITSHA-NIGER BRIDGE HEAD41,Uga Street FeggeP.M.B. 1565, OnitshaAnambra StateTel: 07029081339-40

47. ONITSHA-BRIGHT STREET 1, Bright StreetP.M.B. 1520, Onitsha07029081335-6

48. OGIDIBuilding Materials MarketOgidi Tel: 7029081351-2

49. ONITSHA-NEW MARKET 18, New Market RoadP.M.B. 1500, OnitshaTel: 07029081337-8, 046-280884

50. ONITSHA-NEW MARKET 33, New Market/Venn Road, North OnitshaP.O.Box 1790, OnitshaTel: 07029081343-4, 046-661406-8

51.UPPER IWEKABy Nigerian Police Officers Wives MktPOWA Plaza, OnitshaTel: 07029081353-4, 046-665868

BAUCHI STATE

52. YANDOKA BY PASS, BAUCHITel: 07085368186

53. COMMERCIAL ROAD, BAUCHI18, Commercial RoadP.M.B. 002, BauchiTel: 08124961718.

54. MISAU Kano Kari road, Misau, BauchiTel: 08034961710

BAYELSA STATE

55. MBIAMA ROAD 204 Obioma Yenagoa RoadP.M.B. 68, YenagoaTel: 08064667513; 08033425091/08051056472

56. OVOM70, Mbiama/Yenagoa RoadYenegoaTel: 08033945589, 08063908525

BENUE STATE

57. ALIADEGboko road, Aliade (Gwer LGA)P.M.B. 1005, AliadeTel: 08037011555

58. GBOKOMarket Road GbokoP.M.B. 21, GbokoTel: 08080341744,

59. OGIRI OKO3A, Ogiri-Oko Road, Opp. Police Hq. MakurdiTel: 08065043184

60. BANK ROAD Opposite Ministry of Works, MakurdiTel: 08030527466

61. MAKURDI MAINOturkpo RoadP.M.B. 102025, MakurdiTel: 08036949495

62. OJUSecretariat RoadP.M.B. 2001, OjuTel: 08053152567; 07064948653

BORNO STATE

63. BAGALAWANTI ROAD BAGA, KUKAWA LOCAL GOVT AREA BORNO P.M.B. 1006, Tel : 8027712515; 08027274000

64. GAMBORU-NGALAGAMBORU NGALA, NGALA LOCAL GOVT AREA BORNO STATEMaiduguriTel: 088038343395; 08080964203

65. KWAYA-KUSARGombe Road, MaiduguriTel: 08026510578; 08026794897

66. KIRIKASAMA13, Kirikasama RoadP.M.B. 1585, MaiduguriTel: 0706-978000, 07029081477-8

67. MAIDUGURISir Kashim Ibrahim RoadP.M.B. 1006, MaiduguriTel: 076-965031

CROSS RIVER STATE

68. CALABAR MAIN12 Calabar roadCalabar, Cross RiverTel: 08037879570

69. AKAMKPACalabar – Ikom HighwayAkamkpa, Cross RiverP.M.B. 1012, CalabarTel: 08064189126

70. CALABAR FREE TRADE ZONECalabar Free Trade Zone Calabar P.M.B. 1255, CalabarTel: 07029081328-9

71. OGOJA25A Mission RoadP.M.B. 111, Igoli Ogoja, CalabarTel: 08065146505

72. TINAPATinapa Business Resort, Calabar Tel: 08064403414

DELTA STATE

73. AGBOR9 Old Lagos/Asaba RoadAgborTel/ 08036315677

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74. ASABA MAIN119 Nnebisi RoadP.M.B. 1003, AsabaTel: 08053752497, 052-886529

75. NNEBISI ASABA318/319, Nnebisi Road Tel: 052-886530-1, 07029081304-5

76. EFFURUN35 Effurun/Sapele RoadP.M.B. 5, EffurunTel, 08083116380, 07029081298-9

77. EFFURUN 2126, Effurun/Sapele Road P.O. Box 1036Tel: 07058855572

78. IBUSA137,UMEJEI ROAD IBUSAP.M.B. 1002, IbusaTel: 08063429776

79. OGWASHI-UKU BRANCH2, Local Government RoadP M B 1031Tel: 08036314404

80. OGHARA111 Oghara/Ajagbodudu RoadP.O. Box 120, OgharaTel: 052-886630

81. OLEH111 Emore RoadIsoko South LGAP.M.B. 15, OlehTel: 08053974745

82. OVWIAN/ALADJA34 Udu RoadOvwian AladjaTel: 08059435651, 052-886620 -1

83. SAPELE5, Yoruba RoadP.M.B. 4003, SapeleTel: 08046661871

84. UGHELLIPatani RoadP.M.B. 9, UghelliTel: 08165408703

85. WARRI MAIN6, Warri/Sapele RoadP.O. Box 422, WarriTel: 08033749137

86. WARRI-AIRPORT ROAD60, Airport RoadWarriTel: 07029081300-01, 052-886624-5

EBONYI STATE

87. ABAKALIKI1, Ogoja RoadP.M.B. 12, AbakalikiTel: 08066182022; 08033376262

88. UBURU-OHAOZARAOkposi Rd.Ohaozara Local Govt AreaEbonyi State Tel: 08080248384

EDO STATE

89. AGBOR ROAD60, Agbor RoadP.M.B. 18 Benin CityTel: 052886563-64

90. AIRPORT ROAD74, Airport RoadP.M.B. 1215Benin CityTel: 052886567-8

91. AKPAKPAVA85, Akpakpava Street Benin CityTel: 052886619-20

92. AKPAKPAVA MAIN96, Akpakpava StreetP.M.B. 1114, Benin CityTel: 052886617 -8

93. AUCHI31 Warrake RoadP.M.B. 18, AuchiTel: 08071578832

94. DAWSON ROAD33, Dawson RoadP M B 1244Benin CityTel: 052886565-66

95. EKPOMA7, Royal Market RoadP.M.B. 29,EkpomaTel: 08127495419

96. IGUEBEN1, Ralph Oboh RoadP.M.B. 1, IguebenTel: 08124928691

97. IGUOBAZUWA7, FORESTRY Rd.P.M.B. 1019Benin CityTel: 052886680

98. IRUEKPENBenin/Auchi RoadP.O. Box 20IruekpenTel: 08023792771

99. MISSION ROAD5/7 Mission RoadP.M.B. 1019Bein CityTel:, 05286615, 052886675

100. BENIN-LAGOS ROAD (UGBOWO)224, Ugbowo/New Benin-Lagos RoadP.M.B. 005Benin CityTel: 052886621, 052886562

101. UROMI13, Unity Road, UromiP.M.B. 6, UromiTel: 08052956167

EKITI STATE

102. ADO-EKITINo 8, Ijigbo StreetP.M.B. 5310Ado-EkitiTel: 08055558552

103. ADO-EKITI-FAJUYI ROAD1, Adekunle Fajuyi Road, Opp. State Police CommandTel: 08035370344

104. IGEDE-EKITIKing StreetAdo-Ekiti RoadP.M.B. 03, Igede-EkitiTel: 08034375866

105. ILAWE-EKITI1, Iro StreetP.M.B. 7, Ilawe EkitiTel: 08037129496

ENUGU STATE

106. AGBANIAkpugo Rd.P.O. Box 98, AgbaniTel: 08060846664

107. EMENENo. 19 Abiriba Street, Emene Industrial Layout, EnuguP.M.B. 1001, EmeneTel: 07066466804

108. GARDEN AVENUE3, Garden AvenueP.M.B. 1711, EnuguTel: 042-290999, 08191180511, 08033224284

TH109. 9 MILE CORNER NGWOEnugu Road 9th Mile NgwoP.M.B. 1, NgwoTel: 08033397502

110. NSUKKA BRANCH Afrihub CentreUniversityof Nigeria Nsukka Nsukka LGATel: 08151186522




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111. OGBEDEIgbo Etiti Local Govt Area SecretariatP.M.B. 5003, OgbedeTel: 07059607558

112. OGBETE MARKET ENUGUOgbete Main market enuguP.M.B. 1492 EnuguTel: 07030451524

113. OKPARA AVENUE8 Okpara Avenue, EnuguOkpara AvenueP.M.B. 1119, EnuguTel: 08191180734

ND114. 2 OKPARA AVENUE 19/55, Okpara Avenue EnuguTel: 08063522460

115. OGUI ROAD21 Ogui-RoadP.M.B. 1010, EnuguTel: 08191180513

116. ZIK AVENUE58, Zik AvenueNear Kenyatta MarketUwani – EnuguTel: 08191180683, 08191180690

FEDERAL CAPITAL TERRITORY

117. Abuja Federal SecretariatBlock A, Hall A35Ground FloorBullet Building Federal Secretariat, AbujaTel: 07029081446-7

118. ABUJA (NASS)National Assembly Annex3 Arm ZoneMaitama DistrictAbujaTel: 07029081440-1

118. ABUJA-CADASTRAL Plot 399, UTB Close, Off Mohammadu Buhari Rd. Central Arear AbujaTel: 07029081444-5

119. HEAD OFFICE ANNEXE Plot 787, Bank RoadOff Tafawa Balewa RoadCentral Business DistrictAbujaTel: 07029081442-3

120. ABUJA MAINNo 7 HADEJIA CLOSE, by Fsakari Crescent AREA3, GARKI Garki, FCTP.M.B. 35, AbujaTel: 07039081448-9, 07037878711

121. ABUJA UACUAC BuildingPlot 272/273Central Business DistrictAbujaTel: 07029081450-1122. AREA 8, ABUJA 6, Ogbomosho StreetArea 8, Garki, Abuja Tel: 07029081438-9

123. AREA 10, ABUJA Gidan IsaPlot 2104, Moshood Abiola RoadArea 10, Garki, AbujaTel: 07029081452-3

124. DEI DEIDei-Dei Market, AbujaTel: 07029081456-7

125. MAITAMA DISTRICTPlot 2793, Aguiyi Ironsi StreetBy British CouncilMaitama District, Abuja Tel: 07029081436-7

126. WUSE IIPlot 1259 Aminu Kano CrescentWuse II, AbujaTel: 07029081454-5

GOMBE STATE

127. BAJOGAGombe-Potiskum Road, BagojaP.M.B. 03 Tel: 08073524846

128. GOMBEBiu Road,P.M.B. 2 GombeTel:08030404055 129. TALASSETula road, Tallase GombeTel: 08039348011

IMO STATE

130. ABBA77 Douglas Road P.M.B. 1, Abba NkwerreVia Orlu, Imo StateTel: 08035460615; 07029081370-71

131. ABOH-MBAISEOgbor Oboama Ezinihitte, MbaiseTel: 08032669829; 07029081366-7

132. ANARA Anara Town, Orlu Road AnaraIsiala Mbano LGATel: 08035855406, 07029081374-5

133. IMO CONCORDImo Concord Hotel ComplexPort Harcourt Road, OwerriTel/Fax: 08067294450

134. OKIGWE103 Owerri Road, OkigweTel: 08162417229, 07029081363-4

135. ORLU4, Bank RoadP.M.B. 12, OrluTel: 082-553262

136. OWERRI77 Douglas RoadP.M.B. 1031, OwerriTel: 08032317772, 08036759551

ND137. 2 OWERRI23 Port Harcourt RoadP.M.B. 1181OwerriTel: 07029081368-9

RD138. 3 OWERRIPlot 19, Ikenegbu LayoutOkigwe Road, OwerriTel: 07029081360-61

JIGAWA STATE

139. DUTSESani Abacha Way, Yadi Dutse, P.M.B. 7002, DutseTel: 08055004714

140. HADEJIA 2, Ringim RoadP.M.B. 0018, HadejiaTel: 08082023851

KADUNA STATE

141. AHMADU BELLO WAY7/8 Ahmadu Bello WayP.M.B. 2094, KadunaTel: 08065628651, 07029081488-9 142. J7 AHMADU BELLO WAYJ7, Ahmadu Bello WayP.M.B. 2407, KadunaTel: 07029081490-1

143. JAJI ICS QuartersJaji Military CantonmentTel: 07055343884

144. KADUNA SOUTHKachia Road, KakuriP.M.B. 2112, KadunaTel: 07039172723

145. MOGADISHUPlot C8, Mogadishu LayoutKadunaTel: 08025902362, 07029081482-3




146

146. MOH'D BUHARI WAY4 Major General NNIL BuildingMuhammadu Buhari WayKadunaTel: 08034469201; 07029081486-7

147. PPMC KADUNA16 Kachia Road PPMC (NNPC)KadunaTel: 07029081495

148. SAMARU1 Sokoto Road, Opp. ABU main gateP.M.B. 1001, SamaruTel: 08051543557

149. YAKUBU GOWON WAYYakubu Gowon way, Opp. CBNP.M.B. 2081, KadunaTel: 08037481528, 07029081482-3

150. ZARIA (MAIN)2 Circular Road, PZ GRAP.M.B. 1001, ZariaTel: 08051543557, 07029081484-5

KANO STATE

151. ADO BAYERO ROAD48E Ado Bayero RoadP.M.B. 3033, KanoTel: 064-928912

152. BANK ROAD4 Bank RoadP.M.B. 3007, KanoTel: 064-976855

153. BELLO ROAD145, Bello Road, P.M.B. 3476, KanoTel: 07098201691

154. BOMPAI ROAD3, Bompai Road, KanoTel: 064-892667

155. CHALLAWAINDUSTRIAL LAYOUTP.M.B. 3564, KanoKano StateTel: 064-941637

156. DOGUWAR GIGINYA2 Bank Road,Doguwa L.G.A KanoTel: 08071665002

157. HOTORO40, Maiduguri RoadOpposite NNPC DepotKanoTel: 064-945298

158. MURTALA MOHAMMED WAY71, Murtala Mohammed WayYankura AreaP.M.B. 12755KanoTel: 064-891820

159. POST OFFICE ROAD18B, Post Office RoadKanoTel: 07098204503

160. SHARADA INDUSTRIAL ESTATEPhase 1 SharadaP.M.B. 3296KanoTel: 064-891017

161. ZOO ROAD7B, Zoo RoadP.M.B. 3075, KanoTel: 070290841498

KATSINA STATE

162. FUNTUAKatsina Road,Opposite Upper Sharia Court of Appeal,GRA Funtua town, P.M.B. 6001FuntuaTel: 07052523862

163. JIBIAKauran Namoda/Jibia RoadP.M.B. 2044KatsinaTel: 07069055265

164. KATSINA MAIN18 Trading Area, Nagogo RoadP.M.B. 2012, KatsinaTel: 07055227280

165. KATSINA-YAHAYA MADAKI WAYMagudu House Annex, Yaya MadakiP.M.B. 2167, KatsinaTel: 08159160179

KEBBI STATE

166. BAGUDOOpposite Motor GarageBagudo, KebbiTel: 07034286111

167. BIRNIN KEBBIHaliru Abdul WayOpposite General HospitalP.M.B. 1010Birnin KebbiTel: 08034914705; 08032230889

168. JEGA4, Mohammed Dado StreetP.M.B. 9004Jega, kebbiTel: 08035954873; 08030579495

169. YELWA Bank RoadP.M.B. 1002, Yelwa-YauriYauri, kebbiTel: 080362106230

KOGI STATE

170. AJAOKUTARoad 6, Geregu Campus AjaokutaTel: 08062864308

171. EGUME EGUME TOWN ROAD, Opposite Onu Palace P.M.B. 1003, Egume, Kogi StateTel: 08067077079.

172. IDAHAyegba Oma Idoko Rd. IdahP.M.B. 007, Idah, KogiTel: 08073949530 173. MURTALA MOHAMMED WAY LOKOJAOpp. Obasanjo Sqr.P.M.B. 14, LokojaTel: 08073516277

174. IBB Way Lokoja (low density)Plot 495 IBB Way,LokojaTel: 07037509540

175. OKENE22, Lafia StreetOkene, KogiTel: 07039828688

176. OKENGWEIhima Road OkengweP.M.B. 1027, Okene, KogiTel:08035972538

KWARA STATE

177. BACITA22 Ahmadu Pategi Road P.M.B. 106BacitaTel: 08036786010

178. BODE SAADU Sabo AreaP.M.B 004Bode SaaduTel: 08060867125

179. ILORIN MARKET173 Abdul AzeezAttah Road, SurulereP.M.B. 1533, IlorinTel: 08187817547

180. LAFIAGIEmir's RoadP.M.B. 85, LafiagiTel: 07039386031

181. MURTALA MOHAMMED WAY67 Murtala Mohammed WayP.M.B. 1347IlorinTel: 07029081472




147

182. OFFA60-62 OLOFA WAY, OFFAP.M.B. 401Off-Kwara StateTel: 07055963782

183. OMU ARANAperan WayP.M.B. 1010Omu AranTel: 08059001333

184. OROOYELAGBAWO RD, Oke Ola,P.M.B. 308, OroTel: 07038789109

185. UNILORIN 254 Umar Saro RoadSawmill AreaP.M.B. 1347IlorinTel: 08132084393

186. PATEGI New Market Roadc/o P.M.B. 106, BacitaTel: 08102745514

LAGOS STATE

187. ADENIJI ADELE183B, Adeniji Adele RoadLagosTel: 07029081206; 07029081207 188. AGBARAAgbara Industrial Estate P.M.B. 1163Tel: 07029081156-7

189. AGEGE118 Ipaja Road, Shofunde AgegeP.M.B. 21084, AgegeTel: 7220550, 7388164, 07029081236-7

190. AGIDINGBILateef Jakande RoadAgidingbi, IkejaTel: 01-8040072,07040997285, 07029081286-7

200. AJAHShops H119-122, H155-158Ikota Shopping ComplexLekki – Epe Express RoadAjahTel: 01-4627950, 4627951, 07029081290-1

201. ALABA MARKET (NEW)Shop F453Alaba International MarketAlaba, LagosTel: 07029081174-5

202. ALABA INT. MARKET1, Afeff RoadAlaba, LagosTel: 07029081172-3

203. ALLEN AVENUE39, Allen Avenue P.M.B. 21779, IkejaTel: 01-9503060,07029081280-81

204. AMUWO ODOFIN1A Old Ojo RoadMaza MazaAmuwo OdofinP.M.B. 006Festac TownTel: 07029081146-7, 01- 2410283

205. APAPA-CREEK ROAD16, Burma Road, Apapa Tel: 7384127, 4355161, 07029081150-51

206. APAPA-TIN CAN ISLAND PORTTin Can Island Port, ApapaIsland ComplexP.M.B. 1147, Apapa, LagosTel: 7401813, 07029081144 -5

207. APAPA-ELEGANZA PLAZA1, Commercial Road, ApapaTel: 7737102, 2793443 07029081148-9

208. APAPA-WHARF ROAD32, Wharf Road, Apapa, P.M.B. 1172, ApapaTel: 2707855, 07029081140-41

209. APAPA-YINKA FOLAWIYO AVENUE27, Yinka Folawiyo AvenueP.M.B. 1166, ApapaTel: 7300226, 7732494, 07029081136-7

210. AWOLOWO ROAD77, Awolowo RoadP.O. Box 2, IkoyiTel: 01-7390381, 7300151, 07029081180-81

211. BADAGRY42 African Church StreetP.M.B. 1002BadagryTel: 07029081158-9

212. BALOGUN SQUARE34 Balogun StreetP.M.B. 2356, LagosTel: 01-7360351, 01-8126988, 07029081212-3

213. BROAD STREET 118/120 Broad StreetBroad Street, Lagos Tel: 01-2701057, 07029081220-21

214. 131 BROAD STREET152/156 BROAD STREETBroad Street, LagosP.M.B. 2002 Lagos Tel: 01-2800897-8, 07029081210-11

215. DAVIES STREET4, Davies StreetMarinaTel: 07029081226-7

216. DOPEMU26, Shasha Road, AkowonjoDopemuTel: 01-8045594, 07029081242-3

217. EBUTE METTAMainland Hotel BuildingP.M.B. 1007Ebute MettaTel: 01-8920956, 07029081260-61

218. EBUTE METTA6, Herbert Macaulay. WayEbute MettaTel: 01-7386167, 07029081284-5

219. EGBE64, Isolo/Ikotun RoadEgbe, LagosTel: 01-8798799, 7402022, 07029081254-5

220. FALOMO- MARBLE HOUSE 1, Alfred Rewane Road, Marble House, Falomo Round-about, LagosTel: 01-8444787, 07029081202-3

221. FEDERAL SECRETARIATIkoyi Federal Secretariat ComplexAlagbon Close, Ikoyi LagosTel: 07029081190-91

222. FESTAC TOWNPlot 1327B, 32 Road

rd3 Avenue, FestacTel: 07029081168-9

223. IDI-ARABALagos University Teaching HospitalCompound Idi-ArabaP.M.B. 1127, MushinTel: 01- 7737908, 8987917, 07029081240-41

224. IDIMU40, Ikotun/Idimu Rd, IkotunTel: 01-8142495, 8142497, 07029081252-3

225. IDUMOTA-DOCEMO6, Idoluwo Street,Idumota Tel: 01-8944532, 07029081224-5Fax: 01-2668931

226. IGANMUEric Moore RoadP.M.B. 3006, SurulereTel: 7360105, 07029081142-3

227. IJESHA-TEDO62, Adesina Street, Ijesha-TedoSurulere, LagosTel: 01-8713919, 8713909, 07029081244-5

228. IJORA6 Ijora CausewayP.M.B. 5053, LagosTel: 7748951, 07029081138-9




148

229. IJU 169 Iju Road, FagbaP.M.B. 21081, Agege, LagosTel: 01-8043434, 8922607, 070290812446-7

230. IKEJAPlot 16, Oba Akran AvenueP.M.B. 21064, IkejaTel: 7300365, 2717540, 07029081288-9

231. IKEJAAlfa HousePlot 166, Obafemi Awolowo WayAgidingbi Junction, IkejaTel: 01-7391518, 07029081282-3

232. IKORODU62, Lagos RoadBeside Ragolis Water LtdTel: 01-8919397, 7403169, 07029081270-71

233. FORESHORE TOWERSForeshore Towers2A, Osborne RoadIkoyiTel: 01-8126940, 07029081194-5

234. ILUPEJU25, Ilupeju Industrial AvenueIlupeju Industrial EstateP.M.B. 21091, IkejaTel: 01-2793738, 07029081268-9

235. ISOLOPlot 8, Block KIsolo Industrial Estate, Apapa Oshodi Express WayP.M.B. 1123MushinTel: 01-2719891, 8744725, 07029081274-5

236. KAKAWA21/23 Kakawa StreetP.M.B. 12076, LagosTel: 01-2805988-9, 07029081208-9

237. KETU549 Ikorodu RoadKetu, LagosTel: 01-7400638, 8187761, 08191345681

238. LADIPO90, Ladipo Road, MatoriP.M.B. 1170, MushinTel: 01-8046388, 8046442, 07029081250-51

239. LAWANSON123 Itire RoadSurulere, LagosTel: 01-2793090, 07029081272-3

240. LEWIS STREET61 Lewis Street, LagosTel: 07029081184-5

241. HEAD OFFICE BRANCHst1 Floor Stallion Plaza

36 MARINA, P.M.B. 2027GPO Marina, LagosTel: 01-2716800

242. MOLONEY6, Moloney Street, ObalendeP.O. Box 3425, LagosTel: 01-2771477, 07029081216-7

243. MUSHIN 131, Agege Motor RoadP.M.B 1014 , MushinTel: 01-7941634, 8967943, 07029081238-9

244. OBALENDE13/15, Nojim Maiyegun RoadObalende, LagosTel: 07029081196-7

245. OBUN-EKO6/8 Obun Eko Street, IdumotaP.O. Box 2008, LagosTel: 01-7430709, 01-8045303, 07029081214-5

246. OGBAAcme Road Rales, Glass House, Ogba P.M.B. 2159 IkejaOgba Industrial EstateP.M.B. 21559, IkejaTel: 07029081276-7

247. OGUDUBinukonu Market, Ogudu RoadOgudu GRA, OjotaTel: 01-7363127

248. OIL ESTATE, LEKKI2 Chevron Drive, Lekki PennisulaKm 20, Lagos/Epe Express WayP.M.B. 80032, Victoria IslandTel: 01-8930006, 7940065

249. OJOMUBy Eti-Osa Local Govt. CouncilLekki/Epe ExpresswayP.M.B. 80032, LekkiTel: 01-4737000, 4529431, 7401772, 08191382814

250. OKE ARINLagos Island Shopping Complex34, John Street, LagosTel: 07029081228-9

251. ALAKOROShopping Complex, House C,Sanusi-Olusi Street, Oke-Arin, LagosTel: 0702908122

252. SANUSI OLUSISanusi-Olusi Street, Oke-Arin, LagosTel: 07029081234

253. OKOKOMAIKO405 Lagos/Badagry ExpresswayOpposite PPL B/StopOkokomaiko, LagosP.M.B. 0201Festac Post Office, LagosTel: 07029081160-61

254. OREGUNPlot G, Ikosi RoadP.M.B. 21455, IkejaTel: 01-7735702, 07029081278-9

255. ORILE 36B, Coker StreetAwaye House, Odunade Bus-stopBadagry ExpresswayOrile Iganmu, LagosTel: 07029081154-5Fax: 01-7741578

256. OSHODI18A, Oshodi-Apapa Expressway,Oshodi, LagosTel: 01-8716652, 8713786, 07029081258-9

257. OTTA152/154, Idi-Iroko RoadOjuore OttaTel: 039-722497, 7940151,07029081248-9

256. PALMS PLAZA SHOPPING MALL Shop Number 34/35Palms Shopping Mall1, British International School Way Lekki, LagosTel: 01-2719205,

257. PEN CINEMAStro House4, Iju Road, Pen CinemaAgege, LagosTel: 01-7731267, 7660112, 08191200893

258. SEME BORDERBank Road, SemeTel: 07029081162-3

259. SHOMOLUAdebowale House, 150 Ikorodu Road, OnipanuP.M.B. 40, ShomoluTel: 01-7412591, 07029081266-7

260. SURULERE3, Western AvenueP.M.B. 3002 SurulereTel: 01-2708007, 07029081262-3

261. TINUBU SQUARE19, Tinubu SquareP.M.B. 12040, LagosTel: 01-7360219,8773338, 8102741, 07029081204-5




149

262. TRADE FAIR COMPLEX Olusegun Obasanjo HallP.M.B. 003, Festac TownTel: 07029081164-5

263. TRADE FAIR COMPLEXZone B, ASPAMDA Main GateLagos International Trade FairTel: 07029081166-7

264. TRADE FAIR COMPLEXBBA, Atiku Abubakar HallTrade Fair ComplexLagos Badagry ExpresswayTel: 07029081176-7

265. TRADE FAIR COMPLEXNew BBA, J. Anyi Plaza2, Chief Okey Ezeibe StreetTrade Fair ComplexLagos Badagry ExpresswayTel: 07029081170-71 266. VICTORIA ISLANDPC33 Adeola Hopewell StreetVictoria Island, LagosTel: 01-2793099, 07029081188-9 Fax: 01-2612106

267. VICTORIA ISLAND-ADEOLA ODEKUPlot 97, Ahmadu Bello Way, Victoria IslandTel: 01-4627385-7, 01-4627387, 07029081186-7Fax: 01-4627387

268. VICTORIA ISLAND-ADEYEMO ALAKIJA29, Adeyemo Alakija StreetOff Idowu Taylor StreetVictoria Island, LagosTel: 01-4617380-1,01-4619093, 07029081200-01Fax: 01-4617380

269. VICTORIA ISLAND-AJOSE ADEOGUN275, Ajose Adeogun StreetP.M.B 80022Victoria Island, LagosTel: 01-2714701, 01-2713471, 01-2805745, 07029081198-9Fax: 01-2621773

270. VICTORIA ISLAND-OYIN JOLAYEMI1668B, Oyin Jolayemi StreetVictoria Island, LagosTel: 01-9882639, 07029081192-3Fax: 01-4617206,

271. YABA349 Herbert Macaulay StreetP.M.B. 1002, Sabo, YabaTel: 01-2793091, 07029081264-5

NASARAWA STATE

272. LAFIA Jos Road, LafiaTel: 08036225687, 08185482125

273. AWE Court Road Sabon Gari, Awe Tel: 08168084479, 07039720624

274. KARU New Nyanyan Keffi Rd.Tel: 070290814580-9

NIGER STATE

275. AGAIEBida Roadc/o P.M.B. 3, BidaTel: 066-680010, 08033546030, 08036081884

276. BIDA9 Lemu RoadP.M.B. 3, BidaTel: 066-461002, 461241, 08072568505, 08036225687, 08038428254

277. MINNABank Street, MinnaP.M. B. 22, MinnaTel: 08060090266

278. PAIKOMinna/Suleja Roadc/o P.M.B. 22, MinnaTel: 08051709057

279. SULEJAG.R.A. SulejaP.M.B. 22, SulejaTel: 09-8500146, 8500676, 08079435511

OGUN STATE

280. ABEOKUTAPlot B, Commercial Bank SiteOnikolobo Road, IbaraP.M.B. 3030AbeokutaTel: 039-771353,

281. IJEBU-ODE15 Ibadan RoadP.M.B. 2003Ijebu-OdeTel: 07029081428-9

ND282. 2 IJEBU ODE56 Ibadan RoadIjebu OdeTel: 037-776609, 08191221343

283. ILARO1, Thomas Isola Akinola CrescentP.M.B. 05IlaroTel: 08071232187

284. IWOPINBorode Street, Iwopin,Water SideP.M.B. 2032Ijebu-OdeTel: 08034375705

285. OGERE27 Abeokuta RoadOgere RemoP.M.B. 12, Iperu RemoTel: 08056290715

286. SHAGAMUHigh Court Junction2, Oba Awolesi Erinwole RoadDual Carriage WayP.M.B. 2033, ShagamuTel: 07059997375, 07029081432-3

ONDO STATE

287. AKURE-OBA ADESIDA ROAD9, Oba Adesida Street, AkureTel: 08063815978

288. AKURE MAINAlagbaka StreetP.M.B. 625, AkureTel: 08054149187Fax: 034-243673, 241036

289. AKURE MARKET37 Ilemo Streetoff Oba Adesida RoadP.M.B. 710AkureTel: 08058935820, 290. IDANRE135 Broad StreetP.M.B. 513, IdanreTel: 08022252915,

291. ILUTITUN50, Bank Road Ilutitun OsoroP.M.B. 001, IlutitunTel: 08055173835

292. ITA-OGBOLU66 Main RoadP.M.B. 26Ita-OgboluTel: 0805443267

293. ODE IRELE1, Olofin StreetP.O. Box 26, Ode-IreleTel: 07058030370




150

294. ONDOOdodibo StreetP.M.B. 502, OndoTel: 08053269378.

OSUN STATE

295. ERIN-IJESA47 Toso Akinleye StreetP.M.B. 5043IlesaTel: 07035224985

296. IFEWARA 11, Enuwa Square, IfewaraP.O.Box 51IfewaraTel: 08022694296

297. IKIRUN4, Inisha RoadP.M.B. 5205IkirunTel: 08058099591298. ILE-IFE63, Iremo Road P.M.B. 5509 Ile-IfeTel: 07027488233

299. ILESAEreja SquareP.M.B. 5079 IlesaTel: 08054616677

300. OSOGBO2/4 Obafemi Awolowo,Gbongan/Ibadan RoadP.M.B. 4342OsogboTel: 036-202493

OYO STATE

301. IBADAN-AGODI ROUNDABOUTAgodi Roundabout SecretariatP.M.B. 55144IbadanTel: 08053114333, 07029081101-2

302. IBADAN BANK ROAD, Dugbe, P.M.B. 5176 IbadanTel:08072671297, 07029081099-100

303. IBADAN-CHALLENGEChallenge Round AboutP.M.B. 5655 IbadanTel: 07029081103-4

304. IBADAN-DUGBE3, Lebanon StreetDugbe, IbadanTel: 02-8739066

305. IBADAN-IWO ROAD90, Iwo RoadIbadanTel: 07029081117-8

306. IBADAN-LEBANON STREET76, Lebanon StreetP.M.B. 5083, IbadanTel: 07029081108-9

307. IBADAN-NEW GBAGI MARKETNew Ife RoadP.M.B. 57, IbadanTel: 07029081112

308. IBADAN-OLD GBAGI (NEW COURT RD.)Plot 8, New Court RoadOld Gbagi, IbadanTel: 07029081119- 20

309. IBADAN-UNIVERSITY COLLEGE HOSPITAL (UCH) P.M.B. 5412, IbadanTel: 02- 8736012,

310. ISEYINAdjacent Ebedi MarketOyo Road BarracksP.M.B. 1003, IseyinTel: 08057007665Fax: 038-340005

311. OGBOMOSHOCol. Adeniran's HouseP.M.B. 3592, OgbomoshoTel: 08058985105

312. OYOOwode StreetP.M.B. 1073, OyoTel: 07029081109-10

PLATEAU STATE

313. BANK STREET7, Bank RoadP.M.B. 2029, JosTel: 08131176985, 08051458193

314. DOEMAKQuaan Pan Local Govt Area, DoemakP.O. Box 252, Shendam orP.M.B. 1003, GindiriTel: 08053191290

315. GINDIRIAngwan Pada, Gindir Mangu LGCTel: 08077756694

316. JENGRESaminaka Road, JengreP.O. Box 2045, JosTel: 08065813330

317. JOS-MURTALA MUHAMMED WAY48, Murtala Muhammed Way, JosTel: 07059264036

318. JOS MAIN MARKET28 Rwang Pam StreetP.M.B. 2131, JosTel: 08165725779, 08083116404

319. LANGTANGPankshin/Shendam RoadP.M.B. 002, LangtangTel: 07065237075

320. PANYAMPankshin Road, PanyamP.M.B. 05, PankshinPlateau StateTel: 08051456595, 08031940883

RIVERS STATE321. BONNY10 Finima RoadP.O. Box 144, BonnyTel: 08052019547

322. BORI No.1 Bank Road, BoriTel: 08058104570323. ELEME PETRO CHEMICAL COMPLEX, ELEMEP.M.B. 13, Nchia ElemeEleme LGATel: 07029081406-7

324. PORT HARCOURT-ABA ROAD171D, Aba Road P.M.B. 5186, Port HarcourtTel: 07029081422-3

325. PORT HARCOURT-ABA ROAD180, Aba RoadPort HarcourtTel: 084-234841-2, 579982, 578732, 08033842805

326. PORT HARCOURT-IKWERRE ROAD45, Ikwerre RoadPort HarcourtTel: 07029081424-5

327. PORT HARCOURT-IKWERRE ROAD101, Ikwerre RoadPort HarcourtTel: 07029081418-9

328. PORT HARCOURT-KINGSWAY ROAD12 Azikiwe RoadP.O. Box 5886, Port HarcourtTel: 07029081398-9

329. PORT HARCOURT-ORIJE28 Aba RoadP.O. Box 5404Port HarcourtTel: 07029081402-3




151

330. PORT HARCOURT-OYIGBO52, Location RoadOyigboP.M.B. 5211Port HarcourtTel: 07029081420-1

331. PORT HARCOURT-STATION ROADP.M.B. 5005 Port HarcourtTel; 07029081404-5

332. PORT HARCOURT-TRANS AMADIPlot 468, Trans AmadiIndustrial LayoutP.M.B. 5496, Port HarcourtTel: 07029081400-01

333. PPMC ELEMEPPMC Depot Alesa,ElemeTel: 07029081408-9

334. NAFCON ONNE (AGENCY)Nafcon Complexc/o P.O. Box 653Port HarcourtTel: 07029081410-11

335. CTL EMPORIUM, PORTHARCOURT (AGENCY) c/o PH Oyigbo Branch Woji Street PHTel: 07029081426-7

SOKOTO STATE

336. ISASokoto RoadIsa LGATel: 08084776050, 08089511286

337. SOKOTO MAIN2, Ahmadu Bello WayP.M.B. 2117, SokotoTel: 070386213578, 08058395937

338. SOKOTO MARKETSokoto Market RoadBy Kofar Doya (Western Gate)P.M.B. 2410, SokotoTel: 08076456759, 07032056472

TARABA STATE

339. BALIOpposite Bali Local Govt. SecretariatP.M.B. 1026, Jalingo, Taraba StateTel: 08023822090,

340. DONGADanzomga WayP.M.B. 1020Donga, TarabaTel: 08025444506

341. IBIWukari-Shendam Road, Wukari TarabaP.M.B. 005, IbiTel: 08028214029

342. JALINGO17, Hamaruwa way, TarabaP.M.B. 1026, JalingoTel: 08037057555

YOBE STATE

343. DAMATURUPotiskum RoadP.M.B. 1065DamaturuTel: 074-522177, 522029

344. GASHUAAlong Nguru Rd. GashuaDamaturuTel: 08057476335




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153




Before posting the above card, tear off this part and retain it.

ADMISSION CARDUNION BANK OF NIGERIA PLC

TH44 ANNUAL GENERAL MEETING

PLEASE ADMIT ONLY THE SHAREHOLDER NAMED ON THIS CARD OR HIS DULY APPOINTED PROXY TO THE FORTY-FOURTH ANNUAL GENERAL MEETING BEING HELD AT THE CONFERENCE HALL, TINAPA LAKESIDE HOTEL, TINAPA BUSINESS AND LEISURE RESORT, ADIABO-CALABAR, CROSS

THRIVER STATE ON TUESDAY, 18 JUNE 2013 AT 11.00 A.M.

NAME OF SHAREHOLDER/PROXY…………………………………………………………………….SIGNATURE………………………ADDRESS……………………………………………………………………………………………………………………………………………………

THIS CARD IS TO BE SIGNED AT THE VENUE IN THE PRESENCE OF THE REGISTRAR

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

Being a member/members of UNION BANK OF NIGERIA PLC hereby appoint …………………... or failing him/her SENATOR UDOMA UDO UDOMA or failing him MR. EMEKA EMUWA as my/our proxy to act and vote for me/us and on

thmy/our behalf at the 44 Annual General Meeting of the Company to be held on thTuesday, 18 June 2013 at 11.00 a.m. and at any adjournment thereof.

As witness my/our hands this ……………. Day of ……………………..2013

Signed …………………………………………….

NOTE

A MEMBER ENTITLED TO ATTEND AND VOTE AT THE Annual General Meeting is entitled to appoint a proxy in its, his or her stead. All proxies should be deposited at the office of The Registrar, Union Registrars Limited, 2, Burma Road, Apapa, Lagos not less than 48 hours before the time scheduled for holding the meeting. A proxy need not be a member of the Company.

In the case of joint shareholders, any one of such shareholders may complete the form but the name of all joint shareholders must be stated.

It is required by Law under the Stamp Duties Act, Cap F8. LFN Laws of the Federation of Nigeria 2004 that any instrument of Proxy to be used for the purpose of voting by any person entitled to vote at any meeting of shareholders must bear stamp duty at the appropriate rate, not adhesive postage stamps.

If the shareholder is a corporation, this form must be under its common seal or under the hand of some officers or attorney duly authorized in that behalf.

I/We

h. Mr. Richard Burrett

o

Investor Relations

Union bank annual report 2012