47
01 MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED Managed by Asset & Resource Management Company Limited FINANCIAL STATEMENTS for the year ended ST 31 DECEMBER, 2011 Horwath Dafinone, Chartered Accountants, Ceddi Towers, 16 Wharf Road, Apapa, P. O. Box 2151, Marina, Lagos

Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

  • Upload
    vandien

  • View
    253

  • Download
    0

Embed Size (px)

Citation preview

Page 1: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

01MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

Managed by

Asset & ResourceManagement Company Limited

FINANCIAL STATEMENTS

for the year ended

ST31 DECEMBER, 2011

Horwath Dafinone, Chartered Accountants, Ceddi Towers, 16 Wharf Road, Apapa, P. O. Box 2151, Marina, Lagos

Page 2: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

02MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

NOTICE OF MEETING

FUND INFORMATION

REPORT OF THE TRUSTEES

REPORT OF THE FUND MANAGER

REPORT OF THE AUDITORS

BALANCE SHEET

PROFIT AND LOSS ACCOUNT

STATEMENT OF CASH FLOWS

STATEMENT OF TOTAL RETURNS

STATEMENT OF CHANGES IN NET ASSETS

PRINCIPAL ACCOUNTING POLICIES

NOTES TO THE FINANCIAL STATEMENTS

STATEMENT OF VALUE ADDED

FIVE YEAR FINANCIAL SUMMARY

MANAGEMENT AND ADMINISTRATION

PROXY CARD

ADMISSION CARD

PAGESC O N T E N T S

3

4-6

6-8

9-11

12-13

14

15

16

17

18

19

20-25

26

27

28

29

30

Page 3: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

03MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

NOTICE OF MEETINGthNotice is hereby given that the 10 Annual General Meeting of the ARM Discovery Fund will be held on

thThursday, July 12 , 2012 at The Darlington Hall, Plot CDE Industrial Crescent, off Town Planning Way,

Ilupeju, Lagos, Nigeria at 11:00 am to transact the following business:

ORDINARY BUSINESS

1. To receive and consider the Audited Financial Statements of the Fund for the year ended stDecember 31 , 2011 and the Reports of the Fund Manager, Trustee and the Auditors thereon.

2. To consider and, if thought fit, authorize the Manager to appoint and fix the remuneration of the

Auditors for the ensuing year.

SPECIAL BUSINESS

To consider and, if thought fit, to pass the following resolutions as Special Resolutions:

thThat the Trust Deed dated 28 June, 2002 between Asset & Resource Management Company Limited thand First Trustees Nigeria Limited as amended by the Supplemental Trust Deed dated 7 April, 2004, the

th thSecond Supplemental Trust Deed dated 15 March, 2006, the Third Supplemental Deed dated the 12 thday of January, 2007, the Fourth Supplemental Deed dated the 5 day of March, 2008, the Fifth

st thSupplemental Trust Deed dated 31 January, 2011 and the Sixth Supplemental Trust Deed dated the 17

day of January between the same parties be modified as follows:

(a) By deleting Clause 17.3.3 and inserting a new Clause 17.3.3 which shall read as follows:

“Fixed Income - 15-40%”

(b) By deleting Clause 23.2 and inserting a new Clause 23.2 which shall state as follows:

“Certificates shall be issued in any form to be agreed by the Manager and the Trustee,

including without limitation, in electronic forms.”

(c ) By deleting it its entirety Clause 1.6 (1.6.1) and Clause 29.4 of the Trust Deed on

“Manager’s one-time charge”

th DATED THIS 20 DAY OF JUNE, 2012

BY ORDER OF THE MANAGER

TAYO KOLA-DAISI

Company Secretary

Asset & Resource Management Company Limited

Page 4: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

04MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

NOTES:

PROXIES

1. Only unit holders are entitled to be represented at the meeting. A Unitholder entitled to

attend and vote may appoint a proxy to attend and vote instead of himself/herself/itself. A Proxy

need not be a Unitholder.

2. A Proxy card is attached herewith. All instruments of proxy should be stamped to the value

of N50 as duty thereon and should be deposited at the office of The Registrar, First Registrars, Plot

2, Abebe Village Road, Iganmu, Lagos at least 48 hours before the time fixed for the Meeting

Page 5: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

05MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

FUND INFORMATION

Trustee to the Fund First Trustees Nigeria Limited

Directors of the Fund Manager Mr. F. Ohiwerei (Chairman)Mr. A. Alli (Managing Director/Chief Executive)Ms. J. Ogundare (Executive)Mr. S. Mohammed Mr. C. OkekeMr. K. Bucknor (Ghanaian)Prof. Y. OsinbajoMr. F. Doherty (resigned 20th June, 2011)

Registered Office of the Fund Manager 1 Mekunwen Road, Ikoyi, Lagos

Company Secretary Mrs. Tayo Kola-Daisi

Auditors to the Fund Horwath DafinoneChartered Accountants

ARM Discovery Fund Office 68c Coker Road, Ilupeju, Lagos

E-mail Address [email protected]

Website www.arminvestmentcenter.com

Bankers Guaranty Trust Bank PlcZenith Bank PlcFirst Bank of Nigeria PlcAccess Bank PlcUnited Bank of Africa Plc

Page 6: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

06MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

REPORT OF THE TRUSTEE

Page 7: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

07MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

Directors' interest

Units held

Ms. Jumoke Ogundare 3,868.9556 ==========

The director of Asset & Resource Management Company Limited who holds a beneficial interest in t h e units of the Fund as at 31st December, 2011 is as stated below:

None of the Directors of First Trustees Nigeria Limited has any direct or indirect beneficial interest in the units of the Fund.

Responsibilities of the The Investments and Securities Act, 2007 requires the FundTrustee and the Fund Manager to keep proper books of account and prepare Manager annual financial statements which give a true and fair view

of the state of affairs of the unit trust scheme during the period covered by the financial statements.

In our opinion, the Fund Manager has in preparing the financial statements:

• selected suitable accounting policies and applied them consistently;

• made judgments and estimates that were reasonable and prudent;

• ensured that the applicable accounting standards have been followed, and in the case of any material departure, that it was fully disclosed and explained in the financial statements; and

• prepared the financial statements on a going concern basis; since it was appropriate to assume that the Fund shall continue to exist.

The Fund Manager was responsible for keeping proper accounting records, which disclose with reasonable accuracy, at any point in time, the financial position of the Fund, and enable the Fund Manager to ensure that the financial statements comply with the Trustees Investment Act, CAP T22 LFN, 2004, the Investments and Securities Act, 2007, the provisions of the Trust Deed and any supplemental thereto, together with the rules and regulations set out by the regulatory bodies established pursuant to the legislation referred to within this paragraph (“Applicable Regulations”).

The Fund Manager is also responsible for maintaining adequate financial resources to meet its commitments and to manage the risks to which the Fund is exposed.

REPORT OF THE TRUSTEE (CONTD.)

Page 8: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

08MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

Responsibilities of the Trustee Securities and Exchange Commission Rules and

Regulations made pursuant to the Investments and Securities Act, 2007 are as stated below:

• Monitoring of the activities of the Fund Manager and the custodian on behalf of and in the interest of the Unit Holders;

• Ensuring that the Custodian takes into custody all of the scheme’s assets and holds it in trust for the holders in accordance with the Trust Deed and the Custodial Agreement;

• Monitoring the register of Unitholders or contributors;

• Ascertaining the Fund Manager’s compliance with the Applicable Regulations;

• Ascertaining that the monthly and other periodic returns/reports relating to the Fund are sent by the F u n d M a n a g e r t o t h e C o m m i s s i o n ;

• Taking all steps and executing all documents which are necessary to secure acquisitions or disposals properly made by the Fund Manager in accordance with the Trust Deed and Custodial Agreement;

• Exercising any right of voting conferred on it as the registered holder of any investment and/or forward to the Fund Manager within a reasonable time all notices of meetings, reports, circulars, proxy solicitations and any other document of a like nature for necessary action;

• Ensuring that fees and expenses of the Fund is within the prescribed limits; and

• Acting at all times in the interest and for the benefit of unit holders of the scheme.

The Fund did not make any charitable donationsduring the year (2010: Nil)

The responsibilities of the Trustee as provided by

Charitable donations

Auditors Messrs Horwath Dafinone, Chartered Accountants, having indicated their willingness to continue in office shall do so,in accordance with Section 169(1) of the Investment anSecurities Act, 2007.

By Order of the Trustees

Olumide Oduntan Acting Managing Director First Trustees Nigeria Limited Lagos, Nigeria ,7th June, 2012

REPORT OF THE TRUSTEE (CONTD.)

Page 9: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

09MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

REPORT OF THE FUND MANAGER

The year commenced on a cautiously optimistic note and, ultimately, delivered positive news on the political front with better than expected general elections. In addition, the year witnessed the fruition of several important policy changes and macro level events, such as, the enactment of the Nigerian Sovereign Investment Authority (NSIA) bill, minimum wage increment, stronger signals about the removal of petroleum products’ subsidies, initial indications of fiscal consolidation in the 2012 budget, and decisive resolution of the banking sector crisis. However, monetary policy took centre stage in overall economic management, as the Central Bank of Nigeria (CBN) waged a determined effort to maintain price and currency stability, whilst seeking to discourage fiscal excess. These provided the context for an eventful year.

Macro Economy

Provisional data from the National Bureau of Statistics (NBS) indicated that overall real GDP growth was 7.69% in 2011, marginally lower than the 7.87% recorded in 2010. The slowdown in growth was mainly the result of a decline in oil sector growth, which fell 0.34% YoY in Q3 2011, compared with a 5.08% rise in Q3 2010 (Q2 2011: 1.81%), on the back of lower oil output (partly the result of maintenance downtime), which averaged 2.36 million bpd in Q3 2011, compared to 2.49 million bpd in the corresponding quarter of 2010. However, the overall GDP growth was attributed to the good performance of non-oil activities including agricultural and services sectors as well as the recovery in crude oil output by the fourth quarter.

The 2012 budget assumes a GDP growth rate of 7.2%, which is in line with the latest World Bank forecast of 7.1% growth for Nigeria. The budget outlines initiatives to support growth in key areas with a view to diversifying the economy by strengthening the non-oil sector. There are plans to introduce policies that will promote industrialization, in support of the government’s broader goal of driving import substitution in areas of comparative advantage. Furthermore, given the resilience of crude prices in 2011 amid deterioration in global economic outlook, we remain optimistic that crude prices will continue to find support, especially in the light of improving economic data from the US and sustained performance in major emerging economies. Also, the oil price outlook is underpinned by political tensions in the Middle East which may continue to disrupt established global supply chains, supporting crude prices in the short to medium term. Overall, our assessment is that the plans contained in the 2012 budget present a more coherent fiscal framework for government policies, but as has historically been the case, implementation is likely to remain the key challenge.

Page 10: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

10MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

REPORT OF THE FUND MANAGER (CONTD.)

Market Review & Outlook

The year commenced on a tentative note, with the NSE All-Share Index (NSEASI) achieving a marginally positive 0.85% by the end of H1 2011. However, this was followed by a dismal 18.4% decline in Q3 2011, which was the index’s worst quarterly performance since the height of the domestic financial crisis in Q4 2008-Q1 2009. Ultimately, this dragged the index lower as it closed the year 16.31% down. Incidentally, the decline came at the tail end of attempts by regulators to decisively resolve the banking crisis after meeting resistance from some stake-holders earlier in the year. This exercise involved an unprecedented intervention through the massive purchase of bad assets via AMCON and significantly improved asset quality in the banking system. However, the NSE was not alone in its Q3 woes. The global credit crisis had just taken another ugly turn as the European debt crisis deepened and the US came within hours of defaulting on its obligations to debt holders, alongside uninspiring economic data emerging from developed economies. Also, amid heightened geopolitical risks during the Arab Spring uprisings, there were indications that global managers resorted to a reduction in frontier market exposure. We believe that, in the process, exposure to Nigerian equities was also reduced, exerting further downward pressure on the market.

Our outlook for the equity market in 2012 is shaped by the consideration that the previously identified headwinds have receded. In particular, the worst of the fallout of events in the banking sector is mostly behind us and, despite persistent economic worries, the outlook for global capital markets is largely more favourable. Therefore, we expect that the relative liberation of investor sentiment from the impact of negative externalities in 2012, and improvements in economic and market fundamentals, could lead to stronger Naira asset prices starting in H1 2012.

On the fixed income front, the CBN maintained a restrictive monetary posture in 2011 in the face of several inflationary threats and pressure on the Naira. These were some of the key considerations in setting the benchmark rate in 2011, as the MPR was raised from 6.5% in January to 12.0% by the end of the extra-ordinary MPC meeting in October, resulting in a spike in rates in the last quarter of the year.

In spite of the aggressive tightening, monetary aggregates maintained positive growth, reflecting the quantum of liquidity and aided by a pause in tightening at the November MPC. Thus, in conjunction with softer monetary tone and projected fiscal spending, we foresee significantly easier monetary conditions in 2012. Consequently, we expect interest rates to trend broadly lower.

Page 11: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

11MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

Equity Strategy

While we remain focused on investing in businesses with strong fundamentals and underlying value, we expect pockets of strength in the equity market in the course of the year. In particular, on a relative value basis, we are cautiously optimistic about the banking sector, which we view as a recovery play. However, we intend to remain selective in our security selection, with “best of breed” being a major theme on an overall basis across sectors. However, risks remain for the market in the form of domestic socio-political tensions and possible deterioration in the global economic outlook, which could adversely impact economic and equity market performance.

Fixed Income Strategy

Overall market appetite for longer term government bonds may wane as banks realign portfolios in view of the valuation implications of more stringent IFRS classification guidelines. This is likely compounded by the increasingly prevalent view that AMCON and DMO may substitute a substantial portion of their 2013 outstanding liabilities for bonds with longer term maturities. Based on this, we expect fixed income market activity to be largely characterized by normalization of the yield curve, as yields on short term paper decline while longer term yields remain sticky. Therefore, we will continue to lock-in yields while they remain attractive and seek to opportunistically exploit liquidity-induced volatility.

Fund Performance

The ARM Discovery Fund returned -10.84% in the 12 months ended December 2011 under-performing its composite benchmark which had a return of -4.42%. The Fund’s performance reflected the equity market weakness during the period.

REPORT OF THE FUND MANAGER (CONTD.)

Page 12: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

12MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

We have audited the financial statements of ARM Discovery Fund which comprise, the balance sheet as at 31st December 2011, the profit and loss account, the statement of cash flow, the statement of total returns, the statement of changes in net assets for the period then ended, the principal accounting policies, other explanatory notes, the statement of value added and the five year financial summary. These financial statements are set out on pages 14 to 27 and have been prepared using the accounting policies set out on page 19.

Fund Manager and Trustees’ responsibilities for the financial statements

The Fund Manager is responsible for the preparation and fair presentation of the financial statements in accordance with the Financial Reporting Standards (formerly known as Statements of Accounting Standards) issued by the Nigerian Financial Reporting Council (formerly known as the Nigerian Accounting Standards Board) and the requirements of the Investment and Securities Act 2007, while the Trustees are responsible for ascertaining compliance with the provision of the Trust Deed and other relevant laws.The responsibility of the Fund Manager includes designing, implementing and maintaining internal controls that are relevant to the preparation and fair presentation of the financial statements that are free from material misstatement, whether due to fraud or error as well as selecting and applying appropriate accounting policies and making accounting estimates that are reasonable in the circumstances.

Auditors’ responsibilities

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing and Nigerian Standards on Auditing issued by the Institute of Chartered Accountants of Nigeria. The standards require that we comply with ethical requirements and plan and perform the audit so as to obtain reasonable assurance as to whether the financial statements are free from material misstatement.

Basis of our opinion

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal controls relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

Horwath Dafinone is an indepent member of Crowe Horwath International, with offices and associated firm Worldwide. A list of parner’s names is available at the above address.

REPORT OF THE AUDITORS TO THE UNIT HOLDERS OF THE ARM DISCOVERY FUND (MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED)

Page 13: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

13MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

REPORT OF THE AUDITORS TO THE UNIT HOLDERS OF THE ARM DISCOVERY FUND(MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED) (CONTD.)

Basis of our opinion (Contd.) We obtained all the information and explanations that were required for the purpose of our audit.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a reasonable basis for our audit opinion.

Report on legal and regulatory requirements

In accordance with section 169 (1) of the Investment and Securities Act, 2007 we confirm that the financial statements are in agreement with the accounting records, which have been properly kept.

Opinion

In our opinion, the financial statements give a true and fair view of the financial position of the Fund as at 31st December, 2011 and of its financial performance and its cash flows for the year ended on that date, and have been properly prepared in accordance with the Trustee Investments Act, CAP T22 LFN 2004, the Investments and Securities Act, 2007 and the applicable Financial Reporting Standards (formerly known as statement of accounting standards) issued by the Nigerian Financial Reporting Council (formerly known as the Nigerian Accounting Standards Board) and the provision set out in the Trust Deed of the Fund.

Lagos, Nigeria Horwath Dafinone7th June, 2012 Chartered Accountants

Page 14: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

14MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

2011 2010 N N

Note

Fixed Assets

Long term property investment 2 267,000,000 267,000,000 ___________ ____________

Current assets

Quoted equity securities 3 2,683,395,402 2,964,263,892Fixed income securities 4 1,618,106,585 1,341,958,549Property linked investment 5 - 106,022,007Debtors 6 64,918,049 30,481,132Cash and bank balances 113,299,916 104,029,685

____________ _____________

4,479,719,952 4,546,755,265

____________ ____________

_____________ _ _ _ _ _ _ _ _ _ _ _ _

========== ===========

____________ _____________

========== ==========

Creditors: amounts falling due within one year 7 (103,139,681) (176,192,748)

Net current assets 4,376,580,271 4,370,562,517

Net assets 4,643,580,271 4,637,562,517

Financed by Members’ capital account 8 4,547,275,928 3,891,054,061Capital appreciation reserve 9 433,263,178 469,684,903 (Accumulated deficit)revenue reserve 10 (429,208,835) 184,573,553Revaluation reserve 11 92,250,000 92,250,000

4,643,580,271 4,637,562,517

Net assets per unit 12 217.96 243.38 ======= =====

STBALANCE SHEET AS AT 31 DECEMBER, 2011

The statement of the principal accounting polices set out on page 19 and notes on pages 20 to 27, are an integral part of these financial statements.

Trustees

Fund Managerth7 June, 2012

Page 15: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

15MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

STPROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER, 2011

2011 2010 N N

Note

Gross income 13 267,867,503 177,656,707Operating expenses 15 (131,009,426) (215,309,308)Quoted security trading 16 92,821,026 28,538,812

(Provision for)/write backof net realisable value ofquoted equity securities 17 (822,357,682) 179,269,789

______________ ____________

(Loss)/profit before taxation (592,678,579) 170,156,000

Taxation 18 (10,907,946) (7,059,859)

(Loss)/profit for the yearafter taxation 19 (603,586,525) 163,096,141

Capital gain/(distribution)on redemption 20 51,461,158 (22,207,951)

(552,125,367) 140,888,190 ========== ==========

(Loss)/earnings per unit 21 (28.33) 8.56===== ====

____________ ___________

____________ ___________

The statement of the principal accounting polices set out on page 19 and notes on pages 20 to 27, are an integral part of these financial statements.

Page 16: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

16MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

N N Cash flow from operating activities

Taxation paid (10,907,946) (7,059,859)___________ ___________

Cash flow from investing activities

Purchase of quoted securities (894,871,597) (666,562,561)Purchase of fixed interestincome securities (276,148,036) (499,680,636)Proceeds from the sale ofquoted investments 409,781,706 314,353,752Net proceeds from the sale ofproperty linked investment note 106,022,007 26,962,525Net proceeds from disposal ofproperty investment - 21,000,000

___________ ____________

Cash flow from financing activities

Cash and cash equivalents as atthe beginning of the year 104,029,685 10,448,721

___________ ___________Cash and cash equivalents asthe end of the year 113,299,916 104,029,685

========== ==========

2011 2010

(Loss)/profit before taxation (592,678,579) 170,156,000Profit on sale of securities (92,821,026) (28,538,812)Profit on disposal of property investment - (5,250,000)Provision for /(write back) of net realisablevalue of quoted equity securities 822,357,682 (179,269,789)

Movements in working capital:Debtors and prepayments (34,436,917) 119,293,363Creditors and accruals (73,053,067) 155,024,084

___________ ___________ Cash inflow from operations 29,368,093 231,414,846

Net cash inflow from operations 18,460,147 224,354,987___________ ___________

___________ ___________ Net cash outflow investing activities (655,215,920) (803,926,920)

Funds received into themembers capital account 1,214,073,075 1,165,845,688Membership redeemed (506,390,050) (475,759,287)Dividend paid (61,657,021) (16,933,504)

___________ _____________

Net cash inflow from financing activities 646,026,004 673,152,897___________ ____________

Net cash inflow for the year 9,270,231 93,580,964

STSTATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER, 2011

Page 17: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

17MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

2011 2010 N N

Dividend from quoted securities 109,079,456 70,598,592Profit on disposal of property investment - 5,250,000Other income 2,651,492 2,481,065Fixed interest income 156,136,555 99,327,050

__________ ___________ 267,867,503 177,656,707

Operating expenses - Auditors fee (3,360,000) (3,600,000)- Other expenses (42,134,229) (49,971,390)- Management fee (76,629,011) (68,222,648)- Trustees fee (8,886,186) (7,983,168)- Incentive fee - (85,532,102)

___________ ___________ 136,858,077 (37,652,601)

Tax charge (10,907,946) (7,059,859) ___________ ___________ 125,950,131 (44,712,460)

__________ ___________ Net investment incomeUnrealised appreciation onproperty investment - 92,250,000Realised gain on equity investment 92,821,026 28,538,812Unrealised(loss)/gain on equity investment (858,779,407) 527,685,665

__________ _____________ Net (loss)/profit from investmentactivity (765,958,381) 648,474,477

___________ _____________ Net (loss)/ profit from operations (640,008,250) 603,762,017

STSTATEMENT OF TOTAL RETURNS FOR THE YEAR ENDED 31 DECEMBER, 2011

Page 18: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

18MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

2011 2010 N N

Net (loss)/profit from operations (640,008,250) 603,762,017Contributions from units issued 1,214,073,075 1,165,845,688Cost of redemptions during the year (506,390,050) (475,759,287)Distribution to Unitholders (61,657,021) (16,933,504)

____________ _____________ Increase in Unitholders’ fund 6,017,754 1,276,914,914Net assets as at 1st January 4,637,562,517 3,360,647,603

_____________ _____________ Net assets as at 31st December 4,643,580,271 4,637,562,517

========= ==========

STSTATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED 31 DECEMBER, 2011

Page 19: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

19MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

PRINCIPAL ACCOUNTING POLICIES

(a) Accounting conventionThese financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

(b) IncomeIncome accruing to the Fund includes dividends and interest and is recognized on an accrual basis.

(c) ExpensesExpenses, which include management fees, subscription fees, bank charges and transfer fees are recognised on an accrual basis.

(d) InvestmentsInvestments not quoted on a recognised securities exchange are recorded at the lower of cost or the net realisable value. Quoted investments are stated at their market values as at the balance sheet date. The excess over the cost of acquisition in respect of these quoted securities is included in the capital appreciation reserve. Any diminution in value of the quoted securities is recognised through the profit and loss account.

(e) DebtorsThese are stated at their contractual value, net of any provisions that may be required for the risks of non-realisation.

(f) Foreign currency transactionTransactions in foreign currency are converted into Naira at the rate ruling on the date of the transactions or the rate at which the transactions are contracted to be settled. At the balance sheet date, balances denominated in foreign currencies, other than those subject to contracted rates of settlement are translated into Naira at the rate ruling on the date. Exchange gains and losses arising from such transactions are dealt with in the profit and loss account.

(g) TaxationThe withholding tax borne by the Fund in respect of dividend income is treated as the final tax and recognised in the profit and loss account in the year the dividend is recognised.

(h) Members’ accountsThe redemption of members’ accounts where the value of the units is in excess of the original subscription cost is treated by accounting for the excess as a capital distribution.

Page 20: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

20MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

1. Legal form

stAsset & Resource Management Company Limited set up ARM Discovery Fund on 1 January, 1995 as a private fund known as the Equity Growth Fund. The Fund’s name was changed to the Discovery Fund in 2002 when it was converted to a public Fund in

thaccordance with the Trust Deed dated 27 June, 2002. The name was later changed to thARM Discovery Fund in 2006 through a supplemental deed dated 12 January, 2007.

2011 2010 N N2.

2011 2010

Long term property investment

As at 1st January * 267,000,000 190,500,000Revaluation ** - 97,500,000Disposals - (21,000,000)

___________ ___________267,000,000 267,000,000 ======== =========

* This amount represents the purchase of town houses and apartments for resale by the Fund from Fara Park Limited, a related company that is developing other properties and infrastructure within the same Estate situated within the Lekki Pennisula, Lagos. These transactions were carried out on an arms’ length basis. The Fund Manager is making efforts to dispose of this asset as directed by the Securities and Exchange Commission.

th**On 12 October, 2010 Messr. Ubosi Eleh + Co, Estate Surveyors and Valuers revalued the Funds’ property investment using open market capital value basis. This gave rise to revaluation surplus which has been credited to the revaluation reserve account (note 11).

3. Quoted equity securities

Investments at cost as at thebeginning of the year 3,036,741,428 2,655,993,807Purchases made during the year 894,871,597 666,562,561Disposals made during the year (316,960,680) (285,814,940)

____________ ____________ Investment at cost as at the end ofthe year 3,614,652,345 3,036,741,428Capital appreciation on investments 433,263,178 469,684,903Provision for the loss in value ofinvestments (1,364,520,121) (542,162,439)

____________ _____________ Investments at market value as at theend of the year 2,683,395,402 2,964,263,892

========= ==========

The Fund invested the amount of N 30.017million (2010: N 23.792 million) in certain companies where the directors of the Fund Manager are members of the Board of Directors.

N N

STNOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER, 2011

Page 21: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

21MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

N N

2011 2010

N N

2011 2010

4. Fixed income securities

Investments in financial institutions 400,242,318 537,770,749Investment in treasury bills 621,999,997 350,000,000Investment in government bonds 595,864,270 454,187,800

_____________ ____________ 1,618,106,585 1,341,958,549 ========== =========

5. Property linked investment

Cost at the beginning of the year 106,022,007 132,984,532Interest capitalized during the year 1,119,216 8,393,121Disposals during the year (107,141,223) (35,355,646)

____________ ___________Cost at the end of the year - 106,022,007

========== =========

This amount represents equity-linked notes purchased in Fara Park Limited, a related company that is developing property and infrastructure situated at the Lekki Peninsula, Lagos. The transactions were carried out on an arms’ length basis.

6. Debtors Interest receivable on fixed incomesecurities 26,165,458 24,172,209Dividend receivable 5,821,176 6,308,923Due from the Fund Manager * 24,141,223 -Due from ARM Aggressive Growth Fund 8,790,192 -

___________ ___________ 64,918,049 30,481,132 ======= ========

* This represents the amount due in respect of the proceeds from the disposal of the Fara Park equity linked notes during the year (note 5). This amount has been fully settled after the year end.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR STENDED 31 DECEMBER, 2011 (CONTD.)

Page 22: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

22MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

2011 2010

N N

2011 2010 N N

7. Creditors: amounts falling due within one year

Purchases awaiting settlement 5,931,438 32,257,760Trustees’ fee payable 2,188,361 1,684,502Accruals 21,037,720 6,724,933Management fees payable 17,079,954 17,589,485Incentive fee payable - 85,532,103Due to the Fund Manager - 2,030,000Redemption payable 3,648,333 23,898,707Due to ARM Aggressive Growth Fund - 1,660,000Other Creditors - 1,217,223Unearned income 53,253,875 3,598,035

___________ ___________103,139,681 176,192,748======== ========

8. Members’ capital account

As at 1st January 3,891,054,061 3,178,759,709Contributions during the year 1,214,073,075 1,165,845,688Payment on redemptions during the year (506,390,050) (475,759,287)(Gain)/distribution on redemption (note 20) (51,461,158) 22,207,951

_____________ ______________stAs at 31 December 4,547,275,928 3,891,054,061

========== ===========

9. Capital appreciation reserve

stAs at 31 December 433,263,178 469,684,903======== ========

Quoted securities are stated at the market values as at the balance sheet date. Any surplus arising from the revaluation of these securities over the cost of acquisition at the balance sheet date is retained in the capital appreciation reserve. Any diminution in value is dealt with through the profit and loss account.

10. (Accumulated deficit) / revenue reserve

stAs at 1 January 184,573,553 60,618,867Dividend paid (61,657,021) (16,933,504)Transfer from profit and loss account (552,125,367) 140,888,190

___________ ___________ stAs at 31 December (429,208,835) 184,573,553

======== ========

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR STENDED 31 DECEMBER, 2011 (CONTD.)

Page 23: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

23MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

2011 2010

N N

2011 2010 N N

2011 2010 N N

11. Revaluation reserve

stBalance at 1 January 92,250,000 -Revaluation surplus forthe year(note 2) - 97,500,000Eliminated on disposal - (5,250,000)

___________ ___________ 92,250,000 92,250,000

======== =========

The Fund’s property investment were professionally valued by Messr. Ubosi Eleh + Co. thEstate Surveyors and Valuers on 12 October, 2010 and have been incorporated into the

financial statements by the recognition of excess of the valued amount over the historical cost.

12. Net assets per unit

Net assets per unit 217.96 243.38 _______ _______

The net assets per unit is computed using the net asset value as at the balance sheet date divided by the 21,304,906.73 (2010: 19,055,141.49) units in existence as at that date.

13. Gross income

Dividend from quoted securities 109,079,456 70,598,592Fixed interest income 156,136,555 99,327,050Other income 2,651,492 2,481,065Profit on disposal of property investment(note 14) - 5,250,000

___________ ___________267,867,503 177,656,707======== ========

14. Property trading

Sales proceeds - 21,000,000Cost of disposal - (15,750,000)

___________ ___________Profit on property disposed (note 13) - 5,250,000

======== ========

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR STENDED 31 DECEMBER, 2011 (CONTD.)

Page 24: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

24MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR STENDED 31 DECEMBER, 2011 (CONTD.)

2011 2010 N N

15. Operating expenses

Provision for doubtful debts (note 23) - 6,809,234Management fees (note 22) 76,629,011 68,222,648Trustees fees (note 24) 8,886,186 7,983,168Other expenses 17,045,428 19,049,759Audit fees 3,360,000 3,600,000Incentive fees (note 22) - 85,532,102Registrar fees 6,526,603 9,927,394Advertising expenses 18,562,198 14,185,003

____________ ____________ 131,009,426 215,309,308========= =========

16. Quoted security trading

Proceeds from trading 409,781,706 314,353,752Cost of disposals (316,960,680) (285,814,940)

____________ ____________Trading profit 92,821,026 28,538,812

========= =========

17. (Provision for) / write back of net realisablevalue of quoted equity securities (822,357,682) 179,269,789

========= =========

18. Taxation

Tax withheld on franked investment income 10,907,946 7,059,859========= =========

19. (Loss) / profit for the year after taxation (603,586,525) 163,096,141========= =========

This is stated after charging:Audit fee 3,360,000 3,600,000Management fees (note 22) 76,629,011 68,222,648Trustees fees (note 24) 8,886,186 7,983,168Incentive fees (note 22) - 85,532,102

========= =========

20. Capital gain / (distribution) on redemption 51,461,158 (22,207,951) ___________ ____________

In accordance with the provision of the Unit Trust Scheme, the members capital account is shown at cost. The redemption of the unit arising upon the sale of the unit by the holder is carried out by the scheme. The gain/premium thus arising has been recognised as a capital gain / (distribution on redemption). The amount of N51,461,158 (2010: (N22,207,951), which arose from the redemption of the units by members during the year has been recognised as an appropriation of profit and treated accordingly.

Page 25: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

25MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

2011 2010

N N

21. (Loss) / earnings per unit

(Loss)/earnings per unit (28.33) 8.56 ====== ===

The( Loss) / earnings per unit is computed by using the profit/loss for the year after taxation divided by the 21,304,906.73 (2010: 19,055,141.49) units in existence as at the balance sheet date.

22. Management and incentive fees

The Fund Manager’s fee for the year was calculated as 1.50% (2010: 1.5%) of the Fund’s net asset value as at balance sheet date, and amounted to N76.63 million (2010: N68.22 million). The Fund Manager’s fee and other operating expenses for the year amounted to N131.01 million (2010: N215.31million), which falls within the allowable limit of 5% of the Fund’s net asset value.

The Fund Manager is also entitled to an annual incentive fee of 30% of the amount by which the total return on the Fund exceeds 10% of the Fund’s net asset value. The net asset value utilised is the average of the opening and closing net asset values. There was no Fund Manager’s incentive fee for the year (2010: N85.53m)

23. Provision for doubtful debts

These represent provisions made in respect of those dividends and interest due after more than twelve (12) months that are yet to be received as at the balance sheet date.

24. Trustees’ feesThe Trustees’ fees for the year is based on 0.175% (2010: 0.175%) of the Fund’s net asset value and amounted to N8.89 million (2010: N7.98 million).

25. Related party transaction

The advertising for the Fund is carried out by the Fund Manager through its subsidiary ARM Securities Limited. The advertising expenses charged to the fund during the year amounted to N18.56 million (2010: N14.19 million)

26. Comparative figures

Certain comparative figures have been reclassified in line with the current year’s presentation.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR STENDED 31 DECEMBER, 2011 (CONTD.)

Page 26: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

26MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

STSTATEMENT OF VALUE ADDED FOR THE YEAR ENDED 31 DECEMBER, 2011

2011 % 2010 %

N N

Gross income 360,688,529 206,195,519Less: Bought in materialsand services* (891,710,087) (19,106,015)

____________ _____ ___________ _____Value (lost)/added (531,021,558) 100 187,089,504 (100)

========= ==== ========= ====

Applied in the following ways:

To pay the employees:

Salaries, wages and other benefits - - -

To pay the providers of capital:

Dividend 61,657,021 (12) 16,933,504 9

(Gain)/distribution on redemption (51,461,158) 10 22,207,951 12

To pay the government:

Taxation 10,907,946 (2) 7,059,859 4

To provide for the maintenanceof assets:

Movements in revenue reserve (552,125,367) 104 140,888,190 75____________ ____ _____________ _____(531,021,558) 100 187,089,504 100========= ===== ========= ====

*All bought in materials were purchased or acquired locally.

Page 27: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

27MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

stYear ended 31 December 2011 2010 2009 2008 2007 N '000 N '000 N '000 N '000 N '000

Capital appreciationreserve 433,263 469,685 121,269 355,881 1,518,272(Accumulated deficit)/revenue reserve (429,209) 184,573 60,619 163,696 807,279Revaluation reserves 92,250 92,250 - - -

________ ________ ________ ________ ________ 4,643,580 4,637,562 3,360,648 4,332,481 5,345,045 ======= ======= ======= ======= ========

Long term propertyinvestment 267,000 267,000 190,500 190,500 190,500Net current assets 4,376,580 4,370,562 3,170,148 4,141,981 5,154,545

_________ ________ _________ _________ __________Net assets 4,643,580 4,637,562 3,360,648 4,332,481 5,345,045

======= ======= ======= ======== ========

Profit and loss accountGross income 360,688 206,195 230,268 423,350 1,147,544

====== ====== ====== ====== ======

(Loss)/profit for theyear after taxation (603,586) 163,096 (115,441) (284,132) 602,732

====== ====== ====== ====== ======Appropriations:Transfer to dividend reserve - - - - 144,024Capital (gain)/distributionthrough redemption (51,461) 22,208 (33,639) 215,426 268,163Transfer (from)/to revenuereserve (552,125) 140,888 (81,802) (499,558) 190,545

________ ________ ________ ________ ________ (603,586) 163,096 (115,441) (284,132) 602,732

====== ====== ====== ====== ======

Per unit data(Loss)/earnings per unit (28.33) 8.56 (7.08) (15.07) 35.66

====== ====== ====== ====== ======

Net assets per unit 217.96 243.38 206.11 229.82 316.22====== ====== ====== ====== ======

Dividend per unit - 3.30 1.05 2.00 8.50====== ====== ====== ====== ======

The(loss)/earnings and net assets per unit are based on the number of units in existence as at the balance sheet date of the respective years while dividend per unit is based on the number of units in existence as at the date of closure of the members’ register.

Members’ capital account 4,547,276 3,891,054 3,178,760 3,812,904 3,019,494

FIVE YEAR FINANCIAL SUMMARY

Page 28: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

28MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

MANAGEMENT & ADMINISTRATION

FUND MANAGERAsset & Resource ManagementCompany Limited1, Mekunwen Road, IkoyiP.O. Box 55765Tel: 01-270 1093-6Fax: 01-270 1097Website: www.armnigeria.com orwww.arm.com.ng

TRUSTEE

First Trustees Nigeria LimitedLeventis Building42/43 MarinaLagosTelephone: 01-2534780, 2634801Fax: 01-26474

ABUJA OFFICE

Plot 129 Adetokunbo Ademola CrescentWuse 11, Abuja FCTTel: 09-461 8405Fax: 09-461 2267

AUDITORS

Horwath DafinoneCEDDI Towers16 Wharf RoadApapa, LagosTel: 5451863-5Fax: 01-545 2384-5

PORT HARCOURT OFFICE

12, Circular RoadPresidential Estate IIOff GRA JunctionPort Harcourt, Rivers StateTel: +234 (84) 462591Fax: +234 (84) 462592

REGISTRAR

First RegistrarsPlot 2, Abebe Village RoadIganmu, LagosTel: 01-545 6142, 545 1418Fax: 01-585 0552

Page 29: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

29MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

NO. OF UNITS FOR AGAINST

RESOLUTIONS

1. “That the report of the Fund Manager and the audited financial statements for the period ended 31st December, 2011 now submitted be and are hereby received”

2. “That the Fund Manager be and is hereby authorised to appoint the Auditors for the ensuing year and to fix the remuneration payable to such Auditors”

3. “That the Trust Deed dated 28th June, 2002 between Asset & Resource Management Company Limited and First Trustees Nigeria Limited as amended by the Supplemental Trust Deed dated 7th April, 2004, the Second Supplemental Trust Deed dated 15th March, 2006, the Third Supplemental Deed dated the 12th day of January, 2007, the Fourth Supplemental Deed dated the 5th day of March, 2008, the Fifth Supplemental Trust Deed dated 31st January, 2011 and the Sixth Supplemental Trust Deed dated the 17th day of January, 2012 between the same parties be modified as follows:

(a) By deleting Clause 17.3.3 and inserting a new Clause 17.3.3 which shall read as follows:

“Fixed Income - 15-40%”

(b) By deleting Clause 23.2 and inserting a new Clause 23.2 which shall state as follows:

“Certificates shall be issued in any form to be agreed by the Manager and the Trustee, including without limitation, in electronic forms.”

(c) By deleting in its entirety, Clause 1.6 (1.6.1) and Clause 29.4.1 of the Trust Deed “Managers one-time charge”

PROXY CARD

I/We………………………………………………………………………………………………...

Of……………………………………………………………………………………………………

Being a holder/holders of Units in the ARM Discovery Fund hereby

appoint……………….of ………………………………………………………….or failing

him/her the Chairman of the Meeting as my/our proxy to vote for me/us and on my/our

behalf as he deems fit* in relation to the resolutions to be submitted to the Unitholders at ththe Annual General meeting of the Fund to be held on Thursday, July 12 , 2012 and at any

adjournment thereof:

Dated this ……………day of ………………….. 2012

**Signature(s) of unitholder(s)……………………………

Page 30: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

30MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

UNITHOLDERS ADMISSION CARD

Please admit the unitholder or his/her/its duly appointed proxy to the 10th Annual General Meeting of the ARM Discovery Fund to be held at The Darlington Hall, Plot CDE Industrial

thCrescent, off Town Planning Way, Ilupeju, Lagos State Nigeria on Thursday, July 12 , 2012 at 11am.

NAME OF PERSON ATTENDING……………………………………………………………

UNITHOLDER/PROXY SIGNATURE………………………………………………………..

IMPORTANT

A. This admission card must be produced by the unitholder or his/her/its proxy in order to obtain admittance to the venue of the Annual General Meeting.

B. Unitholders or their proxies are requested to sign this admission card before they seek admittance to the meeting.

Page 31: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

31MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

1 Abu Adebukunola

2 Adesina Adebayo

3 Ibe Pearl Olaoma

4 Olagbami Abiola

5 Olagbami Oluwafikunayomi

6 Olaniyan Ireoluwa

7 Oyewumi Habeeb Babalakin

8 Oyewumi Maryam Ibidunmola

9 Oyewumi Modinat Ayoni

10 Uzo Henry

11 Garba Salamatu

12 Ereh Mercy

13 Abu Adebukunola

14 Adebiyi Famoyegun

15 Akinyele Oluwalanumi

16 AWUNOR NYEMIKE SIMOEN

17 Daramola Oludamilolola Ayotunde

18 Daramola Oyindamola

19 Daramola Temilolaoluwa Olanrewaju

20 ENE-ITA DAVID

21 ENE-ITA GEORGE

22 Ereh Mercy

23 EZENWATA NNAMDI JOSEPH

24 FALEYE AYODEJI A.

25 Garba Salamatu

26 JUMB GOD'SWILL WILLIAMS

27 Nkang E

28 OKOROJI MABEL O. (MRS)

29 Okwuobu Ijeoma

30 Olagbami Oluwafikunayomi

31 Olaniyan Ireoluwa

32 Olaniyan Mofiyinfoluwa

33 ORJI JUDE

34 OSEJI NKECHI EDITH

35 Oyewumi Habeeb Babalakin

36 Oyewumi Maryam Ibidunmola

37 Oyewumi Modinat Ayoni

38 SANNI MUHAMMED

39 Sodipe Olatoun

40 Timi Mopelola

41 Mohd Sambo Aliyu Jamila Attahiru Jega (Admors To

The Estate of Hanafi Ahmed )

42 The Bridge Clinic Limited

43 Abu Adebukunola

44 Achonwa Grace Ngozi

45 Adekoya Olalekan

46 Akintola Oladapo

47 Akintola Olufolajimi

48 AWUNOR NYEMIKE SIMOEN

49 Benson Juanita

50 Enaigbe Tokunbo

51 Ereh Mercy

52 EZENWATA NNAMDI JOSEPH

53 FALEYE AYODEJI A.

54 GIDIGBIH OLABISI

55 Ibe Pearl Olaoma

56 JUDE OSAZE OMOZEGIE

57 JUMB GOD'SWILL WILLIAMS

58 Kasali Oluwatoyin

59 Kentebe James

60 Mohammed-Ali Maryam

61 NWACHUKWU EBERE ANN

62 Obadeyi Abayomi

63 ODIGWE AMY AMBER AMA

64 ODIGWE LORRAINE AWELE

65 ODIGWE MICHAEL EMELIEM

66 ODIGWE PEARL OSOMNI

67 ODUGBESAN OLABISI ADERONKE

68 OGBOWU TAMUNOTONYE

69 OGUNDIPE ABIODUN

70 Ogunleye Joseph

71 Oguntonade Adedeji

72 OJO OSAGIE OFURE JOAN

73 Okwuobu Ijeoma

74 Olagbami Oluwafikunayomi

75 OLAIYA TEMITOPE

76 Olaniyan Ireoluwa

77 Olaniyan Mofiyinfoluwa

78 Olatunji Rafiat

79 OLAYI CAROL O.

80 Oliko Grace

81 OLUGBOSO OLANREWAJU RAZAAK

82 OLUKU OZOMA

83 ONYECHERELAM OBINNA CHIMELA

84 OSEJI NKECHI EDITH

85 Oshinowo Stephen

86 OYESHOLA ABIMBOLA

87 Oyetunde Oluwafemi

88 Oyewumi Habeeb Babalakin

89 Oyewumi Maryam Ibidunmola

90 Oyewumi Modinat Ayoni

91 SANNI MUHAMMED

92 Sodipe Olatoun

93 Thomas Oluseye

94 Timi Mopelola

95 Scutari Investments Ltd,

96 Iwelu Jeffery

97 Kida Musa

98 The Bridge Clinic Limited

99 Ugobor Osarobo

100 Abu Adebukunola

101 Adeogun Israel

102 ADEOSUN AYORINDE

103 Adesanya Ademuyiwa

104 African Prudential Insurance Co

105 AGWU BOBBY OKECHUKWU

106 AKINTOYE DEBORAH

107 AKPAN PATIENCE LAWRENCE

108 AWOLOLA DAMILOLA ABIGEL

109 AWUNOR NYEMIKE SIMOEN

110 Ayomanor Gladys

111 EHIOGHAE MATTHEW I.

112 ENEMODIA ROSELINE

113 Ereh Mercy

114 ESEKHILE JOSEPH

115 EZENWATA NNAMDI JOSEPH

116 Fajemisin Adebiyi

117 FAPOHUNDA JAMES KAYODE

118 Firsthouse Limited Firsthouse Limited

119 GINGER-EKE IFEOLUWA

120 Ibe Pearl Olaoma

121 Idowu Ayodeji

122 Idowu Nathan

123 Idowu Ololade

124 Idowu Oluwatobiloba JASMINE

125 IFEANYI SUNNY OFFIAH

ARM Discovery Fund Unclaimed Dividends as at June, 2012

Page 32: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

32MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

126 Igandan Ayodeji

127 IGANDAN AYOMIPOSI

128 Igein Uwamai

129 IWEKA NNAMDI CHRISTOPHER

130 Jawo Clement

131 JIMOH AKINTOYE ABIODUN

132 Kasali Oluwatoyin

133 Kentebe James

134 MADUBUOBI ANTHONY UZONNA

135 NAANBAAN MOSES .E. (MRS)

136 NJOKU CHUKWU EMEKA

137 Nwakalor Paul Chinemeze

138 Nwobi Emmanuel Ugochukwu

139 OBINNA OKAFOR

140 OCHEFU EDIGA ABOKI

141 ODUGBESAN OLABISI ADERONKE

142 Ogunleye Joseph

143 Oguntonade Adedeji

144 Ojikutu Omolola

145 Olagbami Abiola

146 Olamuyiwa Olapo

147 Olaniyan Ireoluwa

148 Olaniyan Mofiyinfoluwa

149 OLORODE OLUKUNLE S.

150 OMOJOLA MOSOPE

151 OMOJOLA TAMILORE (MISS)

152 Onwuka Dave ogechi

153 ONWUKA IKECHUKWU DAVID

154 ONYECHERELAM OBINNA CHIMELA

155 Osagie Jordan

156 Oshinowo Stephen

157 Oyewumi Habeeb Babalakin

158 Oyewumi Maryam Ibidunmola

159 Oyewumi Modinat Ayoni

160 Salami Raimi

161 Sodipe Olatoun

162 Soile Olutola

163 Thomas Oluseye

164 TOLUWALASE ADEBUSOLA

165 ABA ALECHENU STEPHEN

166 ACHONU JOY IHEOMA (MISS)

167 ADEGABI ADEBAYO

168 ADEJARE ADESEGUN

169 ADENEKAN OLUWAFEMI

170 ADEOLA AYAWKUNL E BABATUNDE

171 AJIBADE Z. ABDULRASHEED

172 DIN CHRISTINE

173 Egbala Egbe

174 FEMI RAYMOND FEMI

175 IZIMAH MABEL NWAYIURE

176 Laah Elizabeth Thomas

177 LAWAL IREDE MOYINOLUWA

178 MANUEL-SMALLVOICE JASON

179 MBAJIORGU EDWARD ANAKWENZE

180 MOMOH EMMANUEL O.

181 ODOGWU MONDAY AWELE

182 ODULAJA ADETOUN RITA

183 ODUNLAMI OLAITAN OLUFUNMILAYO

184 OJO OLUFEMI OMOBOLAJI

185 OKOLI UGOCHUKWU .N.

186 OKOLONJI-IWENGBU BEATRICE

187 OLUFEMI BOLUWATIFE

188 OLUWAFEMI KOLAWOLE

189 OMAGE CHRISTIANA BIODUN

190 OSEGHALE KINGSLEY

191 OSUNLALU OLUBUNMI

192 OTOGBOLU CHUKWUDI B.

193 Raphael Idoko

194 TELLA TEMITOPE (MISS)

195 Adamawa Investment Property Dev Co Ltd.

196 ADEBAYO KOLADE OMIKOREDE

197 ADESIYUN MOSES ADENIYI

198 BENSON LAMI MABRAWA

199 EJIAWOKO ANNE UZOAMAKA

200 GIWA AISHA (MRS)

201 Jemide Tosan

202 ODUNTAN OLUDOLAPO

203 OJO OLUKAYODE MICHAEL

204 OLAWALE O. LAWAL

205 Wuyep Mankami

206 Yero Ahmed and Waji

207 Yero Ahmed Bello

208 Afolabi Tunde

209 Hassan Odukale Tunde

210 ADEYEMI Adeyemi

211 ARIBISALA SOLOMON

212 Chinwuba Bryan Abuchi

213 Chinwuba Emeka Godwin

214 Chinwuba Gifty Nana

215 Chinwuba Venessa Ujunwa

216 Chinwuba Whitney Adaobi

217 HUGBO PETER (PROF)

218 Itua Sandy

219 JOC JOC

220 JODC JODC

221 LAMI CHRISTINE MSHELIA

222 Metropolitan Bank Staff Pension Fund

223 NWANKWO-REUBEN UCHE

224 Oghiovie Blessing

225 OGUNC OGUNC

226 OKIGBO KOSISOCHUKWU TOBE

227 OLUBIYO GODWIN OLUSEGUN

228 Olukolade Adefolahan Chris

229 OYOSORO EDITH (DRMRS)

230 OYOSORO OYOSORO (MASTER)

231 Oyosoro Rajulie

232 Oyosoro Ugabio

233 Oyosoro Usuika

234 RANKASSA ENTERPRISES LTD.

235 Scutari Investments Ltd, Scutari Investments Ltd.

236 Sholeye Olatutu

237 African Alliance Insurance Co Ltd

238 Dike Folasade

239 LBS/ LIFE MEMBERSHIP FUND

240 LBS/GRATUITY FUND

241 MAJEKODUNMI OMOWUNMI

242 Ojo Ade

243 Babalola Afe

244 NUT Oyo State Wing Endwelll

245 Abadam Ali

246 Abati Olusola David

247 Abba Onyechummo

248 Abdallah Peace

249 Abdulazeez Zainab

250 ABDULKADIR DANLADI NMA

251 Abdullahi Abdulkadir

252 Abdullahi Abubakar

253 ABIFARIN PAUL OLUFEMI

254 Abiodun Roy

255 Abioye Ayodele Musibau

Page 33: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

33MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

256 ABORODE ANTHONIA

257 ADAH BOLA

258 Adah Collins

259 Ada-Leaonard Maureen O.

260 Adama Habib

261 Ade-Onojobi Adekunle

262 ADEBAJO JUMOKE

263 Adebanjo Olayinka

264 ADEBAYO KEHINDE

265 Adebiyi Adedoyin

266 Adebola Babatunde

267 ADEDEJI ADEBANJI OLUSEYE

268 Adedeji Adejuwon

269 Adedokun Oluwaseun A.

270 ADEGBITE ADEKOLA T.

271 Adegoke Adegbenga

272 Adejugba Olanrewaju

273 Adekoya Oluwatosin

274 ADEKOYA OMOBOLAJI JOSEPH

275 ADEKUNLE AYOBAMI (MST)

276 Adekunle Sule

277 Adelakun Deborah

278 ADELANWA ADEFOLARI N. O

279 ADEMOLU OMOTAYO A.

280 ADENIJI ADEGBOLA AYOBAMI (DR)

281 Adeniran Victoria

282 Adenmosun Adebukola Seyi

283 ADENOWUN ABIOLA

284 Adenuga Adebukola

285 ADEOLA TOYIN

286 ADEOSHUN ADEBAYO

287 ADEOSUN AYORINDE

288 Adeoye Ademola I.

289 Adepoju Olalekan

290 Adepoju Oluwademilade

291 ADERIBIGBE GBADEBO OLUKAYODE

292 Aderibigbe Rufus

293 Adesamoye Olufunke

294 Adesemowo Olumade

295 ADESINA ADEYEMI ABIOLA

296 Adesina Olutosin Oluremi

297 ADESINA OLUWATIMILEHIN BODUNDE

298 ADEWOYE MARVELLO & OLUWATOMISIN

299 Adewunmi Adedamola

300 Adewunmi Adedayo

301 Adewunmi Aderemilekun

302 ADEWUNMI OLUWATOBI

303 Adeyanju Adenike

304 Adeyanju Olanipekun

305 Adeyemi-Bajo Olabisi

306 Adeyemi Adebisi

307 Adeyemi Adetunji

308 Adeyemi Funsho Adediran

309 ADEYEMI SHERIFAT

310 ADIELE YVONNE

311 Adurogbangba Joan

312 Afegbai Carol Onyeka

313 Afolabi Michael Oluwafolajimi

314 Afolabi Omoshalewa Naomi

315 African Prudential Insurance Co Ltd

316 Agarin Anita

317 Agarin Edesiri

318 Agarin Helen Omoverere

319 Agarin Mudiaga

320 Agbaoye Olugbuyi Olawaiye

321 Agbele Grace

322 Ahaneku Chidaalu Daniella

323 Ahua Anshima

324 Aina Ayodeji

325 Airhienbuwa CharlesUloma

326 Aitalegbe Olubunmi

327 AIZOJIE GRACE

328 Ajagbe Florence

329 Ajao Oluwagbemisola Modupe

330 Ajayi Oladipo Oladokun

331 AJAYI OLALEKAN

332 Ajayi Olusola

333 AJAYI OLUSOLA JOHN

334 Ajayi Oluwayemisi

335 AJAYI OMOTUDE

336 AJIBOLA HANNAH O.I.

337 Ajibola Olukayode Emmanuel

338 Ajunwa Ojiugo

339 Ajuogu Alex

340 Akabueze Rosemary

341 AKANBI LUKMAN OLAWALE

342 AKANDE ADEPEJU (MRS)

343 Akele Clara

344 AKEMU MEBRO

345 AKEMU UFUOMA

346 AKHIDENOR Esther

347 Akin-tewe Oluwatosin

348 Akinbobola Iyabode

349 AKINBODE MOSES SEUN

350 AKINJAYEJU TEMITOPE M.

351 Akinmoluwa Ayodele

352 AKINNIYI AJE

353 AKINPELU NONYE R.

354 AKINPELUMI KESTER KUNLE

355 Akinremi Folasade

356 Akinrinmola Ayodeji

357 Akinsanmi Folayemi

358 Akintomide Cecilia

359 Akintunde Ayodele

360 AKOMOLAFE ADEBAYO ELIJAH

361 AKOR INNOCENT

362 AKPAN PATIENCE LAWRENCE

363 AKPEJI CATHERINE OMOLOLA (MRS)

364 Akukwe Chuka

365 ALABI ABDULMAJID A

366 Alade Adesina

367 Alaja-Browne Carlene Angella

368 Alakija Olamide

369 Alao Olabisi

370 ALAO SALIHU

371 Alao Subulade

372 Alatishe Zaheed

373 ALEGE OLUTOPE

374 Aleru Patricia

375 Alexander Iriowen Gloria

376 Ali Mohammed Mubarak

377 ALIOHA BEATRICE UGOCHI (MRS)

378 Alofoje Jasmine

379 Aluko Olagoke

380 Amabagbo Somine

381 Amadi Obianuju

382 Amaechi Charles ugochukwu

383 AMAICHIGH MAUREEN

384 Amarvi Timilehin

385 AMATOTSERO ALLEN

386 Aminu Rebecca Tolulope

387 Amira Priscilla

Page 34: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

34MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

388 AMML INVESTMENT COMMITTEE

389 Amodu Abayomi

390 AMOKEODO OLUWUNMI

391 Amucheazi Ifeaoma C.

392 Amuchie Ifeyinwa Mildred

393 Amusa Suleman Akindeji

394 ANGBAZO GRACE

395 Anibaba Ibironke

396 Anichebe Christopher C.

397 ANIEKAN E. PETERS

398 Aniekwe Marion Kosilisochukwu

399 Anifalaje Olajire

400 Anifowoshe Omolola

401 ANIGBATA EMMANUEL CHIGOZIE

402 Animashaun Lateef

403 ANINANG OFFIONG ANI

404 Anioma Chukwuemeka

405 Anipole Olawale

406 Annan Ama

407 ANTHONY A OMONAIDE

408 Anwuri Ovinuchi

409 Anyansi Ikenna

410 ANYAOGU JOY A.

411 Anyiam-Osigwe Kathulia Ugboaku

412 Aridegbe Adedotun

413 Arioga Bernard Erhire

414 Asaba Olumuyiwa Olawale

415 ASABIA CONSTANT A.

416 Ashkie Ladi Abigail

417 ASOGWA ODERA BRYAN

418 Asubiaro Olajumoke

419 ATAKE SHOLA PHILIP

420 Attah Ogbole Benedict

421 Atuokwu Chioma

422 AUSTIN ONUWAEBUNEM MODEBE

423 Awobadejo Yetunde

424 Awolesi Oluwasanu

425 Awosemo Olapade

426 Awosika Oluwafemi

427 Awosika Oluwanifemi

428 Awosika Oluwasemilore

429 Awuwoloye Olajumoke

430 Ayeni Oluwakemi

431 AYEYE KO

432 Ayigbe Paul

433 Ayiti Abiodun Abosede

434 AYODELE TITILAYO

435 AYOKUNLE M. ADEKEYE

436 Ayoola Oladimeji

437 Ayuba Adamu

438 Azeta Vincent

439 AZIKE KAETOCHUKWU LEENNE I.

440 Azodo Clement

441 Azuama Chika

442 AZUBIKE DAVID

443 Azubuike Chima & Amara Grace

444 Babalola Olusola

445 Babatunde George Adebayo

446 BABATUNDE ODUBOTE & OLUWATOYIN

447 Babatunde Taiwo Ganiu

448 Babayemi Kehinde O

449 BABAYEMI TAIWO

450 BADEJO AYODEJI T.

451 BADUNG NGEM

452 BAKARE ABIDEMI SAMOD

453 BAKARE AGBOLAHAN FAROUK

454 Bakare Wa'Dallah-haqqlin

455 BAKUT ELIZABETH AKAMAI

456 BALA-KEFFI LADI RAULATU

457 Balogun Bimbola

458 BALOGUN DAVID

459 BALOGUN EDWIN IFELAYO

460 BAMIJOKO DEBORAH OLURANTI

461 Bamiro Olalekan

462 Bamiyo Investment Co LTD

463 Bammeke Olufunlayo

464 Banjoko Femi

465 Bassey Joy

466 Bejide Oluwatoyin

467 Bello Ado Mohammed

468 Bello Alani

469 BELLO OMOLARA SHAKIRAT

470 Benjamin Adebola

471 Benjamin-Laniyi Adedayo

472 Benson Folasade

473 BIELONWU JOAN ONYEMAECHI

474 BIELONWU OGECHUKWU DAVID

475 Binuyo Sharafa Teju

476 Bojuwoye Praise s.

477 BOJUWOYE OLUWATODIMU

478 Bojuwoye Wisdom

479 Bolaji-Adio Bosede

480 BOSAH NKIRU

481 Bribena Oyinlayefa Tokoni

482 Broderick Bernice

483 BROWN OKECHUKWU

484 BRUCE TUOYO MARTINS

485 BULAMA ABATCHA

486 BULUS IBRAHIM GARBA

487 CARDOSO OLAYEMI

488 Chidi Ifeanyi Romanus

489 Chidoka Obinna

490 CHIJIOKE VERONICA NJIDEKA

491 Chika Odinaka Fortune

492 Chikwendu, Chijoke & Chigozie

493 CHIMA ODUKO IBE MICHAEL

494 Chukwu Kennedy Kelechi

495 CHUKWUEDORDU EMEKA

496 ENEFAZU-OSSAI REBECCA CHIOMA

497 COKER OLUFEMI

498 CrossWorld Nominee Pro Fund

499 CT INVESTMENTS CT INVESTMENTS

500 Dada Morenikeji

501 DAIRO HENRY OLADIPO

502 Daniel Mangibo

503 Daniels Matthias

504 Daniels Oladapo

505 Danjuma-Sami Fatimah Zahra

506 Danmole Moriam

507 DAPPA IBTENEBO WILLIAM

508 DARAMOLA ADEBOLA A.

509 Daramola Opeyemi

510 David Ayomide Christopher

511 Dawodu Akinsola

512 DENZEL OREZI ETEMU

513 DIKE CHINEDU ANTHONY

514 Dike Obiageli

515 Dim Anthony

516 Dio Vell

517 DOSEKUN AKINTUNDE OLATOKUNBO

518 Duniya Yusuf

519 EBISEMIJU OLUFELA (MRS)

Page 35: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

35MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

520 ECHEOZO RITA

521 Ede Jacob

522 EDENIREN VICTOR (JUNIOR)

523 EDET EMMANUEL

524 EDI EMMANUEL BALA

525 EDIRIN GODWIN AKAMA

526 Edobor Osula Ivie

527 Edochie Ifenyichukwu

528 Edoho Delphin K

529 Edu Oluseyi Ann

530 EDWARD BASSEY HENSHAW

531 EFEKODHA UFUOMA JIM

532 Efekodo Patrick Ochuko

533 Effeyotah Oluwasanmi

534 Efod David

535 Egbele Emmanuel Ehime

536 Egbewumi Tolulope

537 EGBUKICHI CHIBUIKEM CHIAGOZIEM

538 EGBUKICHI EZECHINYERE OKECHUKWU

539 EGBUKICHI KELECHI UGOCHUKWU

540 EGHRE-BELLO MICHAEL & JUDITH

541 Egu Ude Somufienia

542 EGWUATU UZOMA EKENE

543 EJIOFOR CHIBUZOR DAPHNE

544 EJIROGHENE KEVIN METIEH

545 Ekanem-Akpan Itohan

546 EKEMIRI MAUREEN (MISS)

547 Ekpenyong Chinwe

548 Ekwere Eka

549 Elegbede Akeem Jimoh

550 EMEFEKE PAUL OJIYOVWI (ENGE)

551 EMIRI EZE CHUCKS

552 EMMAH NSEKPONG

553 Emokhare Taiye

554 Enang Innocent

555 Enang Sunny

556 ENEBELI EMEKA A

557 Ephraim Maureen

558 Ereh Mercy

559 EREWA TAIWO

560 Esan Morekeji

561 Esan Mosimiloluwa

562 ESISI ALERO

563 Essien Gloria

564 ESSIEN OFONMBUK

565 Etoamaihe Mercy I.

566 Etuk Etop Imeh

567 ETUMNI DARLINGTON

568 Eweje Ibukunoluwa

569 Eweje John Opeyemi

570 Eweje Mogbekeloluwa

571 Ewulu Kenechukwu

572 EWUSI VICTORIA O. OKE

573 EYO ANDREW SAM

574 Eyo Glory

575 EZE AMAKA CELESTINA (MISS)

576 EZE EMEKA MOSES

577 EZEAKUDO OSITA M. D. & PATRICIA

578 Ezeanya Dennis Obinwa

579 Ezeigwe John

580 EZENNWA EMMANUEL ONYEKACHI

581 EZENWATA NNAMDI JOSEPH

582 Fadojutimi Babatola

583 Fagbemi Temitope

584 Fakoya Fadahunsi

585 Falana Folashade

586 FALOPE OLUWAGBENGA

587 FAMAKINWA OLAYIWOLA

588 Famuyiro Yewande

589 FAPOHUNDA JAMES KAYODE

590 FASINA ADETUNJI

591 FASUGBA OLUSEYI

592 Fasuyi Dickson Ayokunle

593 Faweya Olufemi

594 Feliroma Books Centre LTD

595 FOLAYAN ALFRED

596 FORESYTHE FOLASHADE

597 FRANKLIN EKEMIRI

598 GABSARI EMMANUEL MUSA

599 GARBA IBRAHIM G. & HAUWA .D (MR&MRS)

600 Gbadebo Ayomide Victoria

601 GBADEBO KAOSARAT (MISS)

602 Gbajumo Muiz

603 Gbalajobi Precious Aderonke

604 GBODIYAN ADELAJA ISIAKA

605 Ghandi - Olaoye Tolumi

606 Gimba Israel

607 Giwa Adebola

608 Gobert Chigbogu U

609 GODPOWER OLUNGWE I

610 GOKA DELALI

611 GOUCHOEKPON GREGOWA

612 HARUNA TANKO MIKHAIL

613 Hassan El-Mahmud

614 HASTINGS OBI ANEKE

615 HNB Trustees Limited

616 HORSFALL SEKRO

617 HUMPHREY HENRY

618 Ibekwe Peace

619 IBI-ILATE AMONIA SYLVANUS

620 Ibikunle Bolutito

621 Ibikunle Tetisohun

622 Ibikunle Tomiwa

623 IBILEYE MATTHEW OLUFEMI

624 Ibizugbe Nosakhare

625 Ibrahim Adepeju

626 Ibrahim Babajide

627 Ibrahim Education Fund

628 Ibrahim Ismail

629 IBRAHIM MUSA PASHIR

630 Ibrahim Ololade

631 Ibrahim Oreoluwa

632 Ibrudhobor Usiwo Joy

633 IDERIMA JOHN DOMINIC

634 Idodo Abdul Olagie

635 IDOWU - KOYA ADEDOLAPO OLUMIDE

636 Idowu Adeola

637 Ifeka Annabel Oyinyechukwu

638 Igbavboa Smith Uduzey

639 Igbekele Omotayo

640 IGBETA BOMA GRACE

641 Igbokwe Uchechi & Ure

642 Ige Omotosho

643 IHEANACHO VINCENT CHINYERE

644 Ihiabe Helen Ajumah

645 IJERE IJEOMA ESTHER

646 Ike Christopher

647 IKEAKOR ARINZECHUKWU TIMOTHY

648 Ikechukwu Emmanuel C.

649 Ikefuna Samuel

650 Ikhioda Rebecca

651 IKPANG ADAMS GLORY

Page 36: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

36MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

652 Ikpatt Aniekan

653 IKPE KINGSLEY CHUKWUDI

654 ILEMOBOLA OLUWABAMISE ENIOLA

655 ILOCHONWU CHINENYE

656 ILONA ADAKU CHIDINMA

657 Ilori Abiodun

658 ILUOBE AMBER EJEMEN

659 Imonhiosen Peter

660 INAYA AUGUSTINE DAVWOJA

661 INUSA SEFIATU

662 Inyang Akanineyen Uche

663 IREMIREN OMOIKHUEREN

664 Isangedighi Henrietta

665 ISHAYA ISA WAZIRI

666 Isheke Godspower O

667 ISIAKA AISHAT

668 ISIAKA AMINAT

669 Isibor Imose

670 ISIKA AFAMEFULA N

671 Isong Ray

672 ISUSU ALPHONSUS

673 Itegie Godwin

674 ITOHAN T. OMAGBEMI (MS)

675 Ituah Kate Osoineromiton

676 IYENDEZWA IVEREN YSABEL IFEANYI

677 Izuakor Kingsley

678 IZUGBOKWE OBINNA JOHN

679 Jaiyeola Comfort

680 Jaiyeola Peter

681 Jaiyeola Phebe

682 Jammal Fred

683 JERRY DAVID IRONSI

684 Jesse-Johnson Olajumoke

685 Jibrin Yakubu

686 Jimoh Jedidiah Jadesola

687 Jimoh Oluwatosin Hafiz

688 Jinadu Fatima

689 JIRGBAH BARTHLOMEW A

690 JOHN O. AHAOTU

691 JOHN RUTH

692 Johnson Akaonye

693 Johnson Anthonia Omotayo

694 Johnson Ethel Olubusola

695 Johnson Olufunmilayo

696 JOHNSON OLUWATOYIN

697 Johnson Temidayo

698 Johnson Tolulope

699 JOSIAH REBECCA

700 Kaffo Olalekan Olanrewaju

701 Kahuwai Sarah

702 KANU CHARLES IHUKA

703 Kareem BolarinwaEeman

704 KASSAM EMMANUEL G.

705 Kasunmu Oluwatoyin

706 KATCHY CHINWE CHIZOBA

707 Kehinde Folake

708 Kelani Abiodun

709 Kemuel Boma Ibinabo

710 Kentebe James

711 Keshi Maxwell Chiemeke

712 Khalidson Oluwafunmilayo

713 KINGSLEY EKEMIRI

714 Kiri-kalio P.T.

715 Kola-Bankole Oluwasola

716 KOLA-BANKOLE S.

717 KOLA-TOKUNBO OYINKANSOLA

718 Kolawole TAOREED ALADE

719 Koroye Ebi

720 Kumapayi Adeola

721 Kumapayi Oluwadara

722 Kumapayi Oluwatofunmi

723 Kumo Adamu

724 KUNLERE FOLABADE GRACE

725 KUNUJI EMMANUELLA

726 KURE HUSSAINI

727 Kyaagba Iembel

728 KYEMENU D. WILLIAMS

729 Labaran Ayuba

730 Lamidi Semiu

731 Laoshe Abraham

732 Laoshe Omowonuola

733 Lawal Judah Oluwadara

734 LAWAL KAZEEM

735 Lawal Olugbemisoke Josephine

736 Lawal Oluwasegun Emmanuel

737 Lawal Shakiru Tunde

738 Layode Agnes

739 Longza Wuchinwe Emma

740 Macaulay Magnus

741 Macaulay Oluwateniayo - Ola

742 Macaulay Titilola

743 MADUABUCHI CATHERINE

744 Maduakor Jesse

745 Maduegbuna Nnemeka

746 Maduka Agbeze

747 Majiyagbe Abraham

748 MANU EMMANUEL

749 Mba Margaret

750 Mbanefo Chinelo

751 MBANEFO-OBIAGO SANDRA

752 Mbu Janet

753 MEMEH ADA OLUFUNKE (MRS)

754 MEMEH KIKACHI

755 MEMEH ONYEMAECHI

756 Mohammed Aderonke Naimat

757 Mohammed Sani

758 Molokwu Ofunneka

759 MONITE TOLA - BOLA (MR&MRS)

760 MORAKINYO TOUN (MISS)

761 MUHAMMAD ABDULLAHI

762 Muhammad-Baba Imran

763 Muhammad-Baba Jalaludeen

764 Muhammad-Baba Usman

765 Mumeh Paul

766 Muotoh Ogechi & Ikegwuonu

767 MURIEL MITCHELL RESOURCES

768 MUSA NAFISAH

769 NAANBAAN MOSES .E. (MRS)

770 Nduka Frederick

771 NDUKWE CYNTHIA

772 NEHIKHARE OSAZUWA KEVIN

773 NESAD LIMITED

774 Nimmyel Vinitha

775 NJOKU IRENE A.

776 NJOKU SABASTINE C.

777 Nnebe Ijeoma

778 Nowkedi Obinna

779 NSOFOR IFEANYI CHUKWU

780 Nwabuike Chiebuliem

781 Nwabuike Okwesilieze

782 Nwaneri Richard

783 Nwaneri Victoria

Page 37: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

37MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

784 NWEKE CHIKWUELU

785 Nwizu Ijeamaka

786 Nwofor Ayotunde

787 Nwogu Emeka Chikezie

788 Nwoko Precious Ifeoma

789 Nwokoro Ijeoma

790 Nwokoye Willie

791 Nwosu Obichukwu

792 Nwosu Onyeoma

793 NWOSU PHILIP CHIEDOZIE

794 NWOSU PHILIP CHIEDOZIE

795 NYENKE HARRIET NGOZI

796 NYIOR ROSEMARY

797 OBALANLEGE IYABODE A

798 Obaseki Marcillina

799 Obasi Nneka

800 Obayemi Omolara

801 Obayemi Sunloye

802 OBELE IROANUSI (MRS)

803 Obey Samson

804 OBI-OBASI CHUKWUEMEKA CHARLES

805 Obua Ifeanyi

806 OCHE GODWIN & EBELE

807 OCHEFU EDIGA ABOKI

808 Odaro Eguavoen

809 Ode Okwe

810 Odede Oluwaseun

811 Odedeyi Olalekan

812 ODENEYE OLUWASEUN OMOBOLA

813 ODENIGBO PAMELA OTITIDILICHUKWU

814 Odigwe Anthony G.k & Chinyelu .F (Mr & Mrs)

815 Odimayo Ebunyemi

816 ODIUWRI MIKE OCHUKO

817 Odiyi Adamma

818 Odoaje Rapheal

819 Odogwu Charles I

820 Odojukan Dapo

821 Odojukan Mobolaji

822 Oduenyi Chuddy

823 Oduenyi Ephraim Emeka Nduka

824 ODUNOWO TAOFEEK

825 Odunze Eziamaka

826 Oduwole Temilade

827 O'Dwyer Ade

828 Offiong Inyeneotobong

829 OFOEGBU UCHE HOPE

830 OFONI EFEOGHENE MONDAY

831 OGBAINI EMMANUEL

832 OGBAJI OGBU

833 Ogbomo Ighedosa

834 OGBONNA EMEKA KIO

835 OGBONNA OGECHI STEPHANIE

836 OGBONNA ONYEKA

837 OGBUAGU THERESA UDUMAGA

838 Ogbureke Adriel Madukwe

839 Ogidi Ndudinachi

840 OGIKU AUSTEN IYOBOR

841 OGOLO ANITA MITCHELL

842 Oguamanam Charles

843 Oguebie Chinenye

844 Oguejiofor Anthony Chukwudi

845 OGUGUA HELEN OLUSEYI

846 Ogunjobi Olufunke

847 OGUNLAJA MODUPE OLOLADE

848 Ogunlana Ayodele Oladipupo

849 Ogunlana Kehinde

850 OGUNLENDE IBIRONKE

851 Ogunlowo Musediq

852 Ogunmefun Remi

853 Ogunmilade Abiola

854 Ogunniyi Adebisi

855 Ogunniyi Margaret Ijeoma

856 Ogunniyi Oromidayo

857 Ogunnowo Patrick B

858 Oguntona Oluwatobi

859 Ogunyemi Babatunde

860 Ogunyemi Olabisi

861 Ogunyemi Steve

862 Ohomele Louisa

863 Ohuawunwa Anthony C

864 Ojeogwu Ngozi Gloria

865 OJERINDE OLUMIDE BABALOLA

866 OJETUNDE ADEOLU

867 Ojetunde Ayomipo

868 OJEWOLE BASHIRAT

869 OJI ELOHO PATRICIA

870 OJO OSAGIE OFURE JOAN

871 Ojo AFolake Adetoun

872 Ojo Franklin

873 Ojo Titilayo

874 OJOGU EKUM OBA

875 Ojokobiri Adedeji

876 Ojo-Osagie Adekemi

877 Ojo-Osagie Oluwaseun

878 OJUKWU ADAORA UZOMA

879 Ojukwu E N

880 Ojuola John Bukoye

881 Okafor Leo

882 OKAFOR NONYE RACHAEL

883 Okafor-Mba George

884 OKE AKINWUMI OLADAPO

885 Okechukwu Chinanu

886 Okegbemiro Sunday

887 OKEKE CHIOMA JANE

888 OKEKE ONYINYE

889 Okene Norah

890 Okenla Agbolade

891 Okeowo Oluwadarasimi

892 Okereafor Stanley Chukwuemeka

893 Okesanya Titilola

894 OKEUDO BENJAMIN ROSE

895 Okeudo Ruby Nnenna

896 Okewusi Segun

897 OKOBI CELESTINE OLISA

898 OKOH BABATUNDE & MODUPE

899 OKOH ISIOMA

900 Okoh Scholastica

901 OKOJIE EHI- WILLIAMS BRIGHT

902 Okolie Amaka

903 Okolue Ikem

904 Okongo Foluke

905 Okonkwo Ogechukwu Monique

906 Okonmah Henrietta

907 OKO-OSI ABDUL-FUAD TOPE

908 Okorie Innocent

909 Okoro Innocent Chima & Chimaokoro Chidimma C.

910 Okoroafor Adejumoke

911 Okoroafor Chidiebere

912 Okoroafor Chidinma

913 Okoroafor Chiebuka

914 Okoroafor Ndubisi

915 OKORONKWO DABERECHI EBIERE

Page 38: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

38MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

916 OKORONKWO ONYEDIKACHI

917 OKORONKWO TERELA CHINYERE

918 Okorotete Philomena

919 Okosun Charles

920 Okosun Michael

921 OKOYE CHUKWUKADIBIA

922 OKOYEOCHA DANIELLE CHIDALU

923 OKPALUGO CHINWE AUGUSTINA

924 Okpoko Jonathan Chika

925 OKPOMU JACKSON

926 Okwoche Godwins

927 Olabiyi Adekunle

928 OLADEPO LARA

929 OLADOKUN OLUSOLA

930 Oladosu Olawale

931 OLAFENWA TITILAYO (MISS)

932 OLAFUNMILOYE ANIFAT BOLANLE

933 Olagbaju Akinlolu

934 Olajiga Ayodele

935 Olamuyiwa Olapo

936 Olaniyan Taofik

937 Olaomi Ibukun

938 Olaomi Oreoluwa

939 Olaonipekun Basirat Arinola

940 Olaoye Olasunkanmi

941 OLATOYE OMOBOLANLE (MRS)

942 Olawale Adeola & Oluwagbolaga

943 Olawale Bolanle

944 Olayode Adewale Olakunle

945 OLISAMAH AFAM HENRY

946 Ologbenla Jumobi

947 Ologun Afeso

948 Olorunfemi Frances

949 Olorunsaiye Joshua

950 Olorunsaiye Mabel

951 Olowe Olumide

952 Olowogunle Janet

953 Oloworaran Funlola

954 Oludoyi Olusola

955 Olufemi-Oke Ajibola

956 Oluleye Ajibola & Olagbaju Omowunmi,

957 Olurombi Omolola

958 Olutola kehinde

959 Oluwaniyi Olusola

960 OLUWATOBI GBADEGESIN

961 Oluwole Andrea

962 Oluwole Clara

963 OMAKOBIA FELIX E

964 Omali Pauline

965 Omeike Peter Ehiabhi

966 Omekeh Henrietta

967 Omene Oghenevbore

968 OMIDIJI ABIODUN OLUSEYI

969 Omijie Michael Olajide

970 OMONAIYE OMOLOLA KIKELOMO

971 OMOTAYO BABATUNDE

972 Omotoye Olubisi

973 Oni Oladapo Emmanuel

974 Onoh Ihuoma

975 Onoja Pius Enokela

976 ONONOKPONO STELLA SEDEKE

977 Onuoha Ekeoma

978 ONWUAKPA MARCEL NONYE

979 ONWUGHALU NJIDEKA OBIANUJU

980 Onwuka Maureen

981 Onwuka Onyejelubechukwu Ebunlomo

982 Onwuka Raphael Chukwuemelie

983 ONWUSAH CHINAPA CHINAZAM

984 ONWUSAH CHUKWUDUMEBI ONWUSAH

985 ONWUSAH LUCKY

986 ONYEGBARI FLORENCE

987 ONYEJAKA LOUIS

988 ONYENSO CHIJIOKE

989 Opara Ngozichika

990 OPARAH ALOY

991 Opashi Emem

992 Opeoluwa-Calebs Oluwatofolafun

993 Opeyemi A. Sobowale

994 Oresanya Olayiwola

995 ORJI MATTHEW CHUKWUNAGORO

996 OROBIYI ADEKUNLE

997 ORODE E. ANTHONY

998 Orumbie Lily Ibitoru

999 OSAGIE IME PASCHAL

1000Osagiede Kehinde K.

1001OSAWEMEN MARIA .I. (MRS)

1002Osawemen Obozokhai

1003Osayamwen Esosa

1004OSEI - NTI AMOAH ISAAC

1005OSEI JONATHAN

1006OSEYOMON VIVIAN

1007Oshinowo Stephen

1008Osho Olurotimi

1009Oshobi Oyebode Jenrola

1010Oshunkeye Kolawole

1011Osidele Olaniyi

1012OSIGBESAN MUYIWA

1013Oso Olajonpo

1014OSOBASE OSEREME ASUELIME

1015Ososami Ololade

1016OSUNDE ABIEYUWA

1017OTENIYA AKINOLA

1018Otobo Uche

1019Otudor Charles & Virginia

1020Otudor Daniel Charles

1021Otudor Dorothy Charles R

1022Otudor Vanzale Charles

1023OVIEMAIGHO ANDERSON

1024Owodunni Olawale Abiola

1025Owodunni Toye

1026Owolabi David

1027OWORU OLUFUNMILAYO J.

1028Owoyeye Francis O.

1029OYEBANJI OLUFEMI MATHEW

1030Oyedeji Dotun

1031OYEGOKE OLUWAKAYODE

1032Oyegun Temitope

1033Oyelakin Oluyomi

1034Oyelude Aisha

1035OYELUYI HELEN TUNDE

1036OYEMOSU ABEL OLORUNJUWON

1037Oyenuga Victor

1038OYESHOLA ABIMBOLA

1039Oyewole Oyenike

1040OZOEMENA JOSEPHINE

1041Pam-Tok Tok

1042Pedro Rotimi

1043PINHEIRO OLUWASEMILORE & OLUWASEUN

1044PM + CDC Associates PM + CDC Associates

1045PRINCE FYNEFACE KEVIN

1046Quadri Abiola

Page 39: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

39MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

1047QUADRI OLUWATOBILOBA TOLUWALEYI

1048Redemptorist Society Of Nigeria Redemptorist

Society Of Nigeria

1049REFFELL BUKONLA

1050RICHFOLKS INVESTMENT LIMITED

1051Rotibi - Doherty Iyioluwa

1052Runsewe Olaide

1053SA'ADU RAHIMAH TEMIDAYO

1054SAKUTU BLESSING

1055Salako Olusegun Kanke

1056Salami Amidu Bolaji

1057Salawu Adebola

1058SALIHU SHEHU DANLAMI

1059SAMI OLUWADAMILARE ADEGBOLA

1060SANNI MORENIKEJI ADEOLA

1061Sanusi Adetayo

1062SARUMI IFEOLUWAPO

1063SARUMI OLUWATOMISIN OLUWATAMILORE

1064Saulawa Yusuf

1065SERIKI TEMIDAYO

1066Seventy - Three Investments Limited

1067Sewordoh Joseph

1068Shaibu Bagana Shehu

1069SHITTU ABIMBOLA KAFAYAT

1070Shittu Adebayo

1071Shobanke Morufat

1072Shodipo Pamela

1073Shodipo Tolulope

1074Shodunke Kadir

1075SHOLADOYE RASHEED ADEDEJI

1076SHONUBI TOLA HARRIS

1077SHOROYE EFUNTOKE

1078Sideso Anthony

1079Sode Ibukunoluwa

1080Sode Olufunke

1081Sode Olufunke

1082SODIPE AYOBAMIDELE M.

1083Sodipe Olatoun

1084Soetan Ademola

1085SOFOLABO AYOMIDE SAMUEL

1086Soji-Oyawoye Olabisi

1087Solanke Carolyn

1088Solanke Titilayo

1089Soluade Efuntayo

1090Sule Adama madinat

1091Sunday Comfort I

1092SUOP A.S. SIMEON (MR & MRS)

1093Surakat Lawal

1094Talabi Olufemi

1095TANIMOMO ATINUKE O.

1096Tegnov Investments Limited Tegnov Investments

Limited

1097Tela Yusuf Nura Ibrahim

1098Tella Olufemi

1099Tijani Al - Ameen

1100Tinubu Abdulazeez

1101Toluhi Rotimi Joseph

1102TSEKE SIMON EBI ORITSE

1103Tumsah Abubakar

1104TURNER TONTE TINA

1105UBOM EMMANUEL

1106Uchendu Chukwubuikem

1107UDEDIKE OGE

1108UDEOZOR NGOZI

1109UDEZUE OLISA CHI

1110Udi Faith

1111Udo Peter Edet

1112UDODEME CHUKWUDALU

1113UDONSAK MFON AMOSO

1114Udosen Etiese

1115UDUKA CHIDINMA FAVOUR

1116Ufeh Unwana

1117Uganden David

1118Ugheoke Evelyn

1119UGWU CHINWE

1120UKA CHUKWUKA

1121UKA GLORY CHIGOZIRI

1122Ukabiala Ebubechukwu

1123UKPE IDONGESIT

1124Ullam Stephanie

1125Umah Gianna Maen

1126Umar Aisha-Christie

1127Umar Pate Zainab

1128Ume-Ezeoke Chukwunonso

1129Umeh Chinenye Esther

1130Umeugoji Amanda

1131Umoren Emmanuel

1132UNABIA ONYEBUCHI SHEDRACK

1133UPONI CHIDINMA D.

1134Uriri Leonard Atabe

1135Usanga Nse

1136Uti Stephen

1137Utomi Emmanuel

1138UVWO MERCY OKIEMUTE

1139Uwaechia Ifeoma

1140UWHUBETINE DAVID

1141UWHUBETINE ESTHER

1142Vindah Edem

1143Wajeh Bariyat

1144Wakwe Ikechukwe

1145Wellington Gbemisola

1146Wilcox Tonye

1147Williams Roseline

1148WISDOM JOY

1149Wright Moreoluwa

1150Wright Oluwadamilola

1151Wright Oluwadunsin

1152Wright Oluwaseyi

1153WRIGHT WILFRED EKUNDAYO

1154YAABIEBOR SUNNY

1155Yaroson Julius

1156YAWSON ANDREW & HELEN (REV. & MRS)

1157Yemidale Fehintola

1158Yemidale Gbenga

1159YOUSUFF ADEDEJI YISA

1160Yusuf Aderonke

1161YUSUFU STEPHEN BALAT

1162Nwachukwu Elizabeth Chima Nwachukwu Chizurum.

O (admors To The Estate Of Nwachukwu C O P )

1163Ogunjobi Jerome Oluwafemi & Beatrice Omowumi

1164Adamawa Investment Property Dev Co Ltd,

1165ADEBAYO KOLADE OMIKOREDE

1166ADESIYUN MOSES ADENIYI

1167Jemide Tosan

1168ODUNTAN OLUDOLAPO

1169Wuyep Mankami

1170Yero Ahmed and Waji

1171Yero Ahmed Bello

1172Adebayo James

1173ONYEAJUWA IKECHUKWU F.

1174Abadam Ali

1175Abasiekong Nsikan

Page 40: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

40MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

1176Abdallah Peace

1177Abdulazeez Zainab

1178ABDULKADIR DANLADI NMA

1179Abdullahi Abdulkadir

1180Abdullahi Abubakar

1181Abdullahi Adamu

1182Abdulraheem Saheed

1183Abe Opeyemi

1184ABEL GABRIEL KUDUTOR

1185Abiodun Roy

1186ABIRO JOSEPHINE

1187Abuh Emma

1188ADAH BOLA

1189Adah Collins

1190ADAH FESTUS & ALBERTA ONYINYE (MR & MRS)

1191Adama Habib

1192O'Dwyer Ade

1193Adebajo Christopher

1194Adebanjo Olayinka

1195ADEBANJO OLUSEGUN BABATUNDE

1196ADEBAYO KEHINDE

1197Adebayo Olumayowa

1198ADEDARA SAMUEL AKIN

1199Adedayo Monisola

1200ADEDEJI ADEBANJI OLUSEYE

1201Adedeji Adejuwon

1202Adefarasin Adepoju

1203Adegbemi Eniola

1204Adekeye Erykah

1205Adekoya Oluwatosin

1206Adekoya Peter Oluseyi

1207ADEKUNLE ADEDAYO (PRINCE)

1208Adelayo Oluwabusola

1209Adeliyi Adekunle

1210ADENIRAN STEPHEN MAYOWA

1211Adeniyi Samuel

1212Adenmosun Adebukola Seyi

1213Adenuga Adebukola

1214ADEOLA ADEPOJU

1215Adeola Tolulope Adesola

1216ADEOLA TOYIN

1217Adeoye Ademola I.

1218Adeoye Oluwabukola

1219Adepoju Oluwademilade

1220ADESINA ADEYEMI ABIOLA

1221Adetoba Adedapo

1222ADETOYESE MAYOWA MUYIWA

1223Adetunji Bukky

1224ADEWOYE MARVELLO & OLUWATOMISIN

1225Adewunmi Adedamola

1226Adewunmi Adedayo

1227Adewunmi Aderemilekun

1228Adewunmi Olayinka

1229ADEWUNMI OLUWATOBI

1230Adeyanju Mary

1231Adeyemi Adebisi

1232Adeyemi Adenike Aderemi

1233ADEYEMI BABATUNDE OLUSESAN

1234ADEYEMI SHERIFAT

1235ADINDE REGINA NWADA

1236ADOGA INALEGWU S.

1237ADONDUWA ABRAHAM

1238Aduba Joel

1239Aduba Joshua

1240Aduba Veronica Chinwe

1241Afolabi Alake

1242Afolabi Ige Korede

1243Afolabi Omoshalewa Naomi

1244AFOLABI MUJIDAT

1245African Prudential Insurance Co Ltd African Prudential

Insurance Co Ltd

1246Agarin Anita

1247Agarin Edesiri

1248Agarin Helen Omoverere

1249Agarin Mudiaga

1250AGBAJOR OMAMOFE

1251Agbaoye Olugbuyi Olawaiye

1252Agbele Grace

1253AGOHA JACOB CHIGOZIE

1254Agumanu Ngozi

1255Agunbiade Olubukola Joyce

1256Ahmadu Jumai

1257AHMED TEMITAYO & IBIKUNLE TOLULOPE

1258Ahmiegbe Ikponwosa

1259Ahua Anshima

1260Airhienbuwa CharlesUloma

1261Aitalegbe Olubunmi

1262Ajao Oluwagbemisola Modupe

1263AJAYI DEBORAH OLUWADAMILOLA

1264Ajayi Oladipo Oladokun

1265Ajayi Oluwatishe Malachi

1266Ajayi Oluwatofarati Micheal

1267AJAYI OLUWATOYIN

1268Ajayi Oluwayemisi

1269AJE OLUWATOBI

1270AJIBADE KENNY & BARISUA (REV & MRS)

1271AJIBADE OLUWASEGUN

1272Ajibola Olukayode Emmanuel

1273AJIBOYE PENDO GABRIEL

1274AJISAFE BOLANLE MODINAT

1275Ajisafe Marvelous Oluwabukunmi

1276Ajunwa Ojiugo

1277AKANBI LUKMAN OLAWALE

1278AKANDE ADEPEJU (MRS)

1279Akande Kayode

1280Akele Clara

1281Akiba Okon

1282Akin-tewe Oluwatosin

1283Akinbobola Iyabode

1284Akinfe Yinka & Kome

1285AKINGBE FEMI

1286AKINJAYEJU TEMITOPE M.

1287AKINLADE OMOTAYO WILLIAM

1288AKINOLA AKINTAYO PATRICK

1289AKINPELUMI KESTER KUNLE

1290Akinremi Folasade

1291Akinrinmola Ayodeji

1292Akinrinmola Olanrewaju Roseline

1293Akinsanmi Folayemi

1294Akinsanya Bolatito

1295Akintomide Cecilia

1296Akintunde Ayodele

1297Akinwunmi Ronke

1298AKOMOLAFE ADEBAYO ELIJAH

1299AKOR INNOCENT

1300AKPAN PATIENCE LAWRENCE

1301AKPEJI CATHERINE OMOLOLA (MRS)

1302Akpo Rosemary Obioma

1303AKUAGWU IKECHUKWU JUSTIN

1304Alade Adesina

1305Alakhume George Omokhoje

1306Alalibo Osaki

Page 41: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

41MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

1307ALAMU TIMOTHY OKUNADE

1308ALAO SALIHU

1309ALEGE OLUTOPE

1310Alerechi Kingsley

1311Ali Anthony Ikechukwu

1312ALIOHA BEATRICE UGOCHI (MRS)

1313Alli Ademola

1314Alliance Capital Management Co Ltd

1315Alonge Akinboboye

1316Amabagbo Somine

1317Amadi Obianuju

1318Amah Onyebuchi Maxwell

1319AMAH-TARIAH ONENGIYE & BIOBELE (MR & MRS)

1320AMAICHIGH MAUREEN

1321Amarvi Timilehin

1322Amira Priscilla

1323Amodu Abayomi

1324Amokaha Nguavese

1325AMOKEODO OLUWUNMI

1326Amucheazi Ifeaoma C.

1327Amuchie Ifeyinwa Mildred

1328Amula Eric

1329Amusa Suleman Akindeji

1330ANAUGHE OGHENEFEJIRO

1331ANAUGHE OKEOGHE

1332Andrew Ofonime

1333ANGBAZO GRACE

1334ANI AMAKA GRACE

1335Ani Ndukwe

1336Anichebe Anthony Chukwuagozie

1337Anichebe Christopher C.

1338Anichie Victor Chukwuemeka

1339Anifalaje Olajire

1340Anifowoshe Omolola

1341ANIGBATA EMMANUEL CHIGOZIE

1342Anyaka Emmanuel Izuchukwu

1343Anyansi Ikenna

1344ARCHIBONG OKON

1345AREJIOGBE OLUGBENGA

1346Aribaloye Babajide

1347Aridegbe Adedotun

1348Arowolafe Folusade

1349Aruwajoye Bolanle

1350Asaba Olumuyiwa Olawale

1351ASHOFOR ASHEKAME ORINAMI

1352ASHOFOR STANLEY UGBOLURIABOR

1353Ashofor Chidinma Petromina

1354Astral Concept International Limited

1355ATIATI BABA EMMANUEL

1356ATOBATELE ADEBOWALE

1357ATU EDWARD DANIEL

1358Atuokwu Chioma

1359Awobadejo Yetunde

1360Awolesi Oluwasanu

1361AWOSIKA IBIDAPO

1362Awosika Oluwasemilore

1363AWOTOYE TOBILOBA

1364Awotoye Tunde Oyegbayi & Alice Bolajoko (hon. Jus.

1365Awuwoloye Olajumoke

1366Ayankoya Sijuola

1367AYANTADE OYINDAMOLA M.

1368AYEJUNI AYOLEYI

1369Ayigbe Paul

1370Ayiti Abiodun Abosede

1371Ayo-Adeola Adetoun & Ayodele

1372AYODELE TITILAYO

1373AYOMIDE & WALE ALLINSON

1374Ayoola Oladimeji

1375Ayuba Adamu

1376Azuama Chika

1377Azubuike Chima & Amara Grace

1378Babajide Afolabi

1379BABATUNDE AKINNIYI OLADOSU

1380BABATUNDE ODUBOTE & OLUWATOYIN

1381Babatunde Taiwo Ganiu

1382BADUNG NGEM

1383Bafor Toritse

1384BAKARE ABIDEMI SAMOD

1385Bakare AdetayoTemitope

1386Bakare Sufi Al-muqarrabin

1387Bakare Wa'Dallah-haqqlin

1388BAKARE PEKUN

1389BAKUT ELIZABETH AKAMAI

1390Balogun Bimbola

1391BALOGUN MULIKAT FOLA

1392BAMIJOKO DEBORAH OLURANTI

1393Bamiro Olalekan

1394BAMIRO-FALOLA TEMI

1395Bamiyo Investment Co LTD Bamiyo Investment Co

LTD

1396Bammeke Olufunlayo

1397Banjoko Femi

1398BANKE SHUAIB (ALHAJA)

1399Bayefa Sunny Ebimobowei

1400Bekederemo Daniel

1401Benibo Tonye

1402Ben-Israel Uzoamaka

1403Benjamin-Laniyi Adedayo

1404Benson Chloe

1405Benson Folasade

1406Benson Senzo

1407Bode-Thorie Damilola

1408Bodede Boluwatife

1409Bojuwoye Praise s.

1410BOJUWOYE OLUWATODIMU

1411Bojuwoye Wisdom

1412BOLA FAJEMIROKUN (DR)

1413BOSAH NKIRU

1414BRAIMOH AMINU DAVID

1415BRIGGS BOMA NIMI

1416BRO CELE COMPANY LTD

1417Broderick Bernice

1418BROWN OKECHUKWU

1419BRUCE TUOYO MARTINS

1420BULUS IBRAHIM GARBA

1421Busari Aliyah

1422Chidi Ifeanyi Romanus

1423CHIJIOKE VERONICA NJIDEKA

1424Chika Odinaka Fortune

1425Chikwendu, Chijoke & Chigozie

1426CHUKWUEDORDU EMEKA

1427Chukwuwieke Mary

1428Cobham Nyoung mildred

1429COKER OLUFEMI

1430Collins Immaculata

1431CT INVESTMENTS CT INVESTMENTS

1432CYRIL K. EZEAMAKA

1433DAIRO HENRY OLADIPO

1434Daniel Mangibo

1435DANIYAN ANTHONY OLAITAN

1436Danmole Moriam

1437David Ayomide Christopher

Page 42: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

42MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

1438Dennis Josephine Akong

1439DENZEL OREZI ETEMU

1440DIAMOND TAMUNOKUNO CONFIDENCE

1441Dim Anthony

1442DODO DANLADI IBARHIM

1443Dung Kaneng Ladi

1444Durodola Adeseye

1445DUROSINMI-ETTI LOOKMAN

1446EBISEMIJU BANKOLE

1447EBISEMIJU BUKAYOMI

1448EBISEMIJU OLUFELA (MRS)

1449ECHEOZO RITA

1450EDE GODWIN IKECHUKWU

1451EDENIREN VICTOR (JUNIOR)

1452EDET EMMANUEL

1453Edobor Osula Ivie

1454Edochie Ifenyichukwu

1455Edu Oluseyi Ann

1456Edu Omonike

1457EDWARD BASSEY HENSHAW

1458Effeyotah Oluwasanmi

1459Efod David

1460Egbewumi Tolulope

1461EGBORDI CHIOMA

1462EGBUKICHI CHIBUIKEM CHIAGOZIEM

1463EGBUKICHI EZECHINYERE OKECHUKWU

1464EGBUKICHI KELECHI UGOCHUKWU

1465Egejuru Ada

1466Egejuru Chijioke

1467Egejuru Enyinna

1468Egejuru Olabisi

1469Egejuru Oladunni

1470EGU MUNA MAURICE

1471EIGBOBO PETER NATHANIEL

1472EJIOFOR CHIBUZOR DAPHNE

1473EKE OGBURU KALU

1474EKOH E. JOHNSON

1475Ekwere Eka

1476Elegbede Akeem Jimoh

1477Emekalam Ejike

1478Emekara Dennis Chinaka

1479EMIRI EZE CHUCKS

1480Emokpae Abieyuwa

1481ENAHOLO CLIFFORD

1482Eneje James Chukwuebuka Rowland

1483ENOGHAMA FAVOUR O.

1484ENOGHAMA VICTORIA O.

1485Enyidede Ugochukwu E.

1486EPELLE CHARLES TONYE

1487Ephraim Maureen

1488EREWA TAIWO

1489Eribo Abieyuwa V.

1490ERONINI FRANCES UCHENNA

1491Esan Folabi

1492Esan Morekeji

1493Esan Mosimiloluwa

1494Esang Unwanna

1495ESISI ALERO

1496Essien Gloria

1497ESSIEN OFONMBUK

1498ESSIET ESTHER S.

1499Etoamaihe Mercy I.

1500ETUMNI DARLINGTON

1501Ewulu Kenechukwu

1502EWUSI VICTORIA O. OKE

1503Eyidengha Felix

1504EYO ANDREW SAM

1505Eze Chiedu

1506Eze Ifeatu Oluchukwu

1507Eze Olasumbo

1508Eze Stanley Ifeanyi

1509EZEAKUDO OSITA M. D. & PATRICIA

1510Ezeanya Dennis Obinwa

1511EZENNWA EMMANUEL ONYEKACHI

1512EZENWATA NNAMDI JOSEPH

1513Ezeogu Adanna

1514Ezeyili Uche

1515FABUNMI A

1516FADIPE MORENIKE OSEREME

1517Fadojutimi Babatola

1518Fagbemi Temitope

1519Falodun Oladeji

1520Falola Ayotunde

1521Famuyiro Yewande

1522FAPOHUNDA JAMES KAYODE

1523FASANYA MICHEAL

1524Fasuyi Dickson Ayokunle

1525Feliroma Books Centre LTD Feliroma Books Centre

LTD

1526Feyijimi Oladimeji

1527Feyisitan Olubunmi

1528FGC Bajulaiye

1529Filani Oluwole

1530FORESYTHE FOLASHADE

1531Fowowe Oyebanke

1532FREEMAN DANIEL D. & PATIENCE (DR & MRS)

1533Garber Adeola Lucy

1534GBADEBO KAOSARAT (MISS)

1535Gbajumo Muiz

1536GBEREVBI JESSICA SUSAN

1537GBODIYAN ADELAJA ISIAKA

1538George Christopher

1539GEORGE OLUFUNMILOLA A

1540Gimba Israel

1541Ginger-Eke Franklin

1542GODPOWER OLUNGWE I

1543GOKA DELALI

1544GOMEZ OLADEINDE MAX

1545Goodluck Koinsola

1546GOUCHOEKPON GREGOWA

1547Hamza Salisu

1548HARUNA TANKO MIKHAIL

1549HASSAN ADEBUKOLA

1550Hassan El-Mahmud

1551HASTINGS OBI ANEKE

1552HUMPHREY HENRY

1553Ibekwe Peace

1554IBI-ILATE AMONIA SYLVANUS

1555Ibikunle Adebola

1556Ibikunle Adedamola

1557Ibikunle Oluwabunmi

1558IBILEYE MATTHEW OLUFEMI

1559IBISO IYAMA TAMUNOMIE

1560Ibrahim Adepeju

1561Ibrahim Babajide

1562Ibrahim Education Fund Ibrahim Education Fund

1563Ibrahim Ololade

1564Ibrahim Oreoluwa

1565Idasefiema Anna Fanny

1566IDERIMA JOHN DOMINIC

Page 43: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

43MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

1567Idodo Abdul Olagie

1568IDOWU - KOYA ADEDOLAPO OLUMIDE

1569Idowu Adeola

1570Idowu Oluwatobiloba JASMINE

1571Idowu Samson

1572Igbekele Omotayo

1573IGBETA BOMA GRACE

1574Igbokwe Uchechi & Ure

1575IGBONEME EMMAN

1576IGBOSONU AUGUSTINE

1577Igeleke Clara

1578Igure Bolanle

1579Ihemegbulam Daniel

1580Ihiabe Helen Ajumah

1581Ihimoyan Olurotimi

1582IJI JEREMIAH

1583Ike Christopher

1584Ike Vivian

1585Ikefuna Samuel

1586IKEME LOVERT I.

1587IKEMERIKA PATRICIA EBELE

1588Ikhioda Rebecca

1589IKORO ONUOHA O.

1590Ileoma Victoria

1591ILOCHONWU CHINENYE

1592Ilori Bukola Temitope

1593Iluyomade Idowu

1594INUSA SEFIATU

1595INYAMAH CHIOMA

1596Ipadeola Olufemi

1597IREMIREN OMOIKHUEREN

1598Iriah Ifeolu Odunayo

1599Iroche Uzoma

1600Isangedighi Henrietta

1601ISHAYA ISA WAZIRI

1602Ishiekwene Elizabeth

1603ISIDAEHOMEN EDOKPEA MARVIN

1604ISIKA AFAMEFULA N

1605Isong Ray

1606Israel-Bolarinwa Morounayo

1607Israel-Bolarinwa Moyinoluwa

1608Israel-Bolarinwa Oreayoluwa

1609ISUSU ALPHONSUS

1610Italoye Oluwole

1611ITOHAN T. OMAGBEMI (MS)

1612Iwambe Stella M.

1613IWUAGWU JAMES

1614Iwuala Gloria

1615Izuakor Kingsley

1616Jaja Roseline

1617Jeremiah Ini

1618JIBOWU ADEALAFIA

1619Jibrin Yakubu

1620Jimoh Oluwatosin Hafiz

1621John Dolapo

1622JOHN O. AHAOTU

1623JOHN RUTH

1624Johnson Ethel Olubusola

1625Johnson Olufunmilayo

1626Johnson Temidayo

1627Johnson Tolulope

1628JOSEPH COMFORT MOJISOLA

1629JOSIAH REBECCA

1630Kahuwai Sarah

1631Kassim Abdulrazaq

1632Kasunmu Oluwatoyin

1633Kazalma Aisha

1634KEHINDE LAWRENCE AFOLABI

1635Kemuel Boma Ibinabo

1636Kentebe James

1637Keshi Maxwell Chiemeke

1638Kindell Limited Kindell Limited

1639Kiri-kalio P.T.

1640Kola-Bankole Oluwasola

1641KOLA-BANKOLE S.

1642Koleowo Abiodun Ayokunle

1643Koroye Ebi

1644KPE FELIX FUNLAYIFA

1645Kumo Adamu

1646Kumswa Dalen

1647KUMSWA IONNA

1648KUNLERE FOLABADE GRACE

1649KUNUJI EMMANUELLA

1650KURE HUSSAINI

1651Kuseka-Taylor Olufolakemi

1652KWAPTEL JOSEPH SHALZUNG

1653Kyaagba Iembel

1654KYEMENU D. WILLIAMS

1655Labaran Ayuba

1656Ladipo-Ajayi Akinbami

1657Ladipo-Ajayi Olaronke

1658Ladipo-Ajayi Olatawura

1659Lamidi Semiu

1660LAMINA ABIODUN AHMED

1661LAWAL KAZEEM

1662Lawal Olugbemisoke Josephine

1663Lawal Olusegun

1664Lawson Olusola

1665Lawson Samson

1666Longza Wuchinwe Emma

1667Majaro Oluyemi

1668Maji Ojonugwami

1669Marius Limited Marius Limited

1670Mbah Nnenna

1671Mbonu Obi Austin

1672Mbu Janet

1673Mmogonu Ifeoma

1674Modey Victory

1675Mohammed Aderonke Naimat

1676Mohammed Ibrahim

1677Mohammed Jamilatu K

1678MOHAMMED RALIAT

1679Molokwu Ofunneka

1680MOLORI OKEOGHENE FAITH

1681Momodu Omoro

1682Momoh Oshiomogie

1683Momoh Taslim

1684MONITE TOLA - BOLA (MR&MRS)

1685MORAKINYO TOUN (MISS)

1686Mudasiru Wasiu Wale

1687MUHAMMADBABA BILKISU

1688Muhammad-Baba Jalaludeen

1689Muhammad-Baba Usman

1690Mumeh Paul

1691MURIEL MITCHELL RESOURCES

1692MUSA BRIDGET

1693MUSA HABIBA

1694NAANBAAN MOSES .E. (MRS)

1695NDIFON SANDRA ORA (MISS)

1696NDUKWE CYNTHIA

1697NEHIKHARE OSAZUWA KEVIN

Page 44: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

44MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

1698Nimmyel Vinitha

1699NJOKU SABASTINE C.

1700NNADI FRANCISCA ONYINYE (MISS)

1701Nnebe Ijeoma

1702Nowkedi Obinna

1703NSOFOR IFEANYI CHUKWU

1704NWABUDE SAMUEL

1705Nwabugwu Faithful Adaeze

1706NWABUOKU ROSEMARY A.

1707Nwachukwu Elizabeth Chima Nwachukwu Chizurum.

O (admors To The Estate Of Nwachukwu C O P )

1708Nwachukwu Obidi Christian

1709Nwaneri Richard

1710NWAOGU IKECHUKWU ELVIS

1711NWEKE CHIKWUELU

1712NWEKE IFEOMA .B.

1713Nweke Uchenna

1714Nwofor Ayotunde

1715Nwokoye Willie

1716Nwosu Justice

1717NWOSU MARTINA N.

1718NWOYE NKIRU ROSE

1719NYENKE HARRIET NGOZI

1720NYIOR ROSEMARY

1721NZEBE CHINWE STELLA

1722Nzegwu Lawretta Chinwe

1723Obaseki Kwesi

1724Obasi Nneka

1725OBAZEE IKPONMWOSA GODFREY

1726OBELE IROANUSI (MRS)

1727OBIEFUNA ANTHONY CHIBUZOR

1728Obijiofor Chukwunonso

1729OBI-OBASI CHUKWUEMEKA CHARLES

1730OBIOMA ROMANUS OKEKE

1731Obua Ifeanyi

1732OCHE GODWIN & EBELE

1733Ochi Roderick

1734OCHIDA AHUBI SUZAN

1735ODEBODE TITILAYO TEMIDAYO

1736ODENEYE OLUWASEUN OMOBOLA

1737Odiase Hilda

1738ODIGBO IKECHI CHIKEZIE

1739Odimayo Ebunyemi

1740Odiyi Adamma

1741Odogun Oluwakemi

1742Odu Sidney

1743Oduenyi Ephraim Emeka Nduka

1744ODUNOWO TAOFEEK

1745Odunze Eziamaka

1746Oduwole Temilade

1747OFISI .O. IDOWU LUCKY (CHIEF)

1748OFODILE PEACE O. (MRS)

1749Ofoegbu Victor

1750OGAH ESIMAJEMIETE

1751OGAH IGHO ROLI

1752Ogba Mark Chibuike

1753OGBAINI EMMANUEL

1754Ogbedebi Tope

1755Ogbomo Ighedosa

1756OGBONNA OGECHI STEPHANIE

1757Ogidi Ndudinachi

1758OGOR KATE

1759OGUFERE KEROGHENE

1760OGUGUA HELEN OLUSEYI

1761OGUNDIPE OLAWALE

1762Ogunkelu Bimbola

1763OGUNLAJA MODUPE OLOLADE

1764Ogunlowo Musediq

1765Ogunmefun Remi

1766Ogunmodede Emmanuel Oluwasegun Victor

1767Ogunniyi Adebisi

1768Ogunniyi Oromidayo

1769OGUNNUBI ADEYINKA OLUBUNMI

1770OGUNNUBI YEWANDE OLOLADE

1771Ogunode Yemisi

1772OGUNSANYA TOBI

1773Ogunsekan Similoluwa

1774Ogunyemi Steve

1775Ogwanighie Emmanuel

1776Ogwude Felicia

1777Ohia Sometochukwu

1778Ohomele Louisa

1779Ojatabu Vitalis

1780Ojetunde Ayomipo

1781Ojo Bolanle

1782Ojo-Osagie Adekemi

1783Ojo-Osagie Oluwaseun

1784Ojukwu E N

1785Okafor Anthony

1786Okafor Leo

1787OKAFOR LORETTA C.

1788OKE OLUWABUSOLAMI (MRS)

1789Okechukwu Chinanu

1790OKELEKE MERRILYN (MS)

1791Okene Norah

1792Okenla Agbolade

1793Okeudo Ruby Nnenna

1794OKOAKPU EBUKA I.

1795OKOAKPU TOCHUKWU A.

1796OKOFU NGOZI NKEM

1797OKOH ISIOMA

1798Okoh Scholastica

1799Okojevoh Richard

1800OKOLI ROSE NNEAMAKA

1801Okolo Cyril

1802Okolo Victor

1803Okon Paul Silas

1804Okonmah Henrietta

1805Okorie , Ambrose & Sunny ochiabato

1806Okoro Innocent Chima & Chimaokoro Chidimma C.

1807OKORO SUNDAY

1808Okoroafor Adejumoke

1809Okoroafor Chidiebere

1810Okoroafor Chidinma

1811Okoroafor Chiebuka

1812Okoroafor Ndubisi

1813Okorotete Philomena

1814Okosun Charles

1815Okoya Henrietta

1816Okoye Gladys N.

1817OKOYEOCHA DANIELLE CHIDALU

1818OKPALA JOHN BOSCO

1819Okpo Eyo

1820OKPOMU JACKSON

1821Okuneye Adedamola

1822Okuneye Moyinoluwa

1823Okuneye Oluwanifemi

1824OKUNLOLA REMI

1825OKUNLOLA TINU

1826OKUNNU ANIKE OMOBOLADE & SAMAD

GBOLAHAN

1827Okuonghae Nelson

Page 45: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

45MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

1828Okupe Adewunmi

1829Olabiyi Adekunle

1830OLADOKUN OLUSOLA

1831Oladosu Olawale

1832OLAFENWA TITILAYO (MISS)

1833Olajide Job

1834Olajiga Ayodele

1835Olamuyiwa Olapo

1836Olaniyan Taofik

1837Olanusi Olufunke

1838OLASOJI OLAWALE TEMITOPE

1839Olatoye Ayoyinka Oludolapo Jesuto

1840OLATUNJI OLAMIDE ADEDAMOLA

1841OLATUNJI OLUWAFEMI

1842Olawale Bolanle

1843Olawuyi Olayomoye

1844OLISAMAH AFAM HENRY

1845Olise John

1846Ologun Afeso

1847Olorunfemi Frances

1848Olorunsaiye Joshua

1849Olowogunle Janet

1850Oloworaran Funlola

1851Olubo Bayode

1852OLUFEMI ADEDIWURA

1853Olufuwa Edijana

1854Oluleye Ajibola & Olagbaju Omowunmi,

1855Olumodeji Idowu Babajide

1856Olususi Winifred

1857Olutola kehinde

1858Oluwaniyi Olusola

1859OLUWATOBI GBADEGESIN

1860Oluwole Clara

1861Omeike Peter Ehiabhi

1862Omekeh Henrietta

1863Omene Oghenevbore

1864Omodele Ibrahim

1865OMOJOWOLO OLAOLUWA MICHEAL

1866Omonaiye Bukola

1867OMONAIYE OMOLOLA KIKELOMO

1868OMONEHIN EMMANUEL .O. & MARIAH .O.

1869OMOTAYO BABATUNDE

1870Omotobora Kofoworola

1871OMOTOSO ISAAC AYOADE

1872Omotoye Olubisi

1873OMOWORARE OLUWASEGUN MOLUKE

1874Omoyemi Oluwatoyin

1875Oni Oladapo Emmanuel

1876Onianwa Azuka

1877Onigbanjo Moyosore

1878Onikute Rachael

1879Onoja Pius Enokela

1880Onoja Elakeche

1881ONOYONA ALEXADER (DR)

1882ONWUAKPA MARCEL NONYE

1883Onwudinjor Ijeoma Chinyere

1884Onwuka Maureen

1885Onwuka Onyejelubechukwu Ebunlomo

1886Onwuka Raphael Chukwuemelie

1887ONWUNALI CHRISTOPHER

1888ONWUSAH CHINAPA CHINAZAM

1889Onyemelukwe Chris

1890Opashi Bankoleola

1891Opashi Damilola

1892Opashi Emem

1893OPOKE ADANNA P.

1894OROBIYI ADEKUNLE

1895ORODE E. ANTHONY

1896ORUGBO (MR & MRS)

1897Osagiede Kehinde K.

1898OSAWEMEN MARIA .I. (MRS)

1899Osawemen Obozokhai

1900Osayamwen Colliins

1901Osayamwen Esosa

1902Osayamwen Jessica

1903OSEI - NTI AMOAH ISAAC

1904OSEI JONATHAN

1905Oshinowo Stephen

1906Osho Oluwapelumi

1907Osho Precious

1908Osho Olurotimi

1909Oshunniyi Oluyemi

1910OSIBOTE ADIJAT YETUNDE

1911Osidele Olaniyi

1912Osifo Emmanuel

1913OSIGBESAN MUYIWA

1914Osilaja Oluwabamikole

1915OSOBA BANKE

1916OSOBASE OSEREME ASUELIME

1917Otobo Uche

1918OVIAWE IFUEKO

1919Owodunni Toye

1920OWORU OLUFUNMILAYO J.

1921Oworu Oyefolabi

1922Oyedeji Dotun

1923OYEFUSI OYEKUNLE DAVID

1924Oyegun Temitope

1925Oyelude Khadija

1926OYELUYI HELEN TUNDE

1927Oyeniyi Oladapo

1928Oyenuga Victor

1929OYESHOLA ABIMBOLA

1930OZOBU EDNA IFEOMA

1931OZOEMENA JOSEPHINE

1932Pam-Tok Tok

1933PAT-EKEJI DAINNE

1934Plang Danladi

1935PM + CDC Associates PM + CDC Associates

1936Poloamina Iniwasikima

1937PREYE TOLUMOYE

1938Recruits Globa Ltd Employee Investment Fund

1939RUFAI OLUWAKEMI MARY

1940RUFUS NGOZI NWAGBARA

1941Runsewe Olaide

1942SA'ADU RAHIMAH TEMIDAYO

1943Saba Taiwo

1944SAKUTU BLESSING

1945Salami Amidu Bolaji

1946SAMI OLUWADAMILARE ADEGBOLA

1947Sani Aminu

1948SANNI MORENIKEJI ADEOLA

1949Sanni Olaide

1950Sanni Waheed

1951Sanusi Adetayo

1952Sanya Ayodeji Omobolanle

1953SARUMI IFEOLUWAPO

1954Saulawa Isa

1955Saulawa Suleiman

1956Saulawa Yusuf

1957Scott-Emuakpor Efetobor

1958SELE GYANG

1959Seventy - Three Investments Limited

Page 46: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

46MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

1960Shaibu Bagana Shehu

1961Shaibu Peters

1962SHITTU ABIMBOLA KAFAYAT

1963Shittu Olatunji

1964Shobanjo Oluremi

1965Shobanke Morufat

1966SHOLADOYE RASHEED ADEDEJI

1967SHONUBI TOLA HARRIS

1968Sideso Anthony

1969Soboyejo Olubukola

1970Sodipe Olatoun

1971Soetan Ademola

1972SOFOLABO AYOMIDE SAMUEL

1973Soji-Oyawoye Olabisi

1974Solanke Carolyn

1975Soluade Efuntayo

1976SOMIDE BIMBOLA BUNMI

1977SOPIRIYE FIBERESIMA

1978SOWANDE KOLAWOLE

1979Soyebo Oluwaseun

1980Soyebo Oluwatoke

1981Soyebo Oluwatomisin

1982Soyebo Oluwatoni

1983SULE ABAYOMI ADAMS

1984Sule Adama madinat

1985Sunday Comfort I

1986SUOP A.S. SIMEON (MR & MRS)

1987Taiwo Oladipo Olumuyiwa

1988Taiwo Olushina

1989Tanimowo Oladele

1990Taylor Tamunotonye

1991Tegnov Investments Limited

1992Tela Yusuf Nura Ibrahim

1993Tijani Suleiman

1994Tinubu Abdulazeez

1995Tola Monday

1996Tonwori O. Tom

1997Trezungwe John

1998Tsumba Demvihin

1999Tumsah Abubakar

2000Udeabor Kenneth O.

2001Udenyi Mine Joshua

2002Udeozor Ngozi

2003Udezue Olisa Chi

2004Udoh James Ibanga

2005Udo-Imeh Mfon

2006UDONSAK MFON AMOSO

2007Udosen Etiese

2008UFOT FRIDAY

2009UGWU CHINWE

2010UGWU EMMANUEL N.

2011Ugwu Promise Ngozi Nnenna

2012UKA CHUKWUKA

2013UKA GLORY CHIGOZIRI

2014Ukabiala Ebubechukwu

2015Ukaonu Perez

2016Uko Utibe Robert

2017Ukogu Patricia

2018Ukwat Victor

2019Ullam Stephanie

2020Umah Gianna Maen

2021Ume-Ezeoke Chukwunonso

2022Umoren Josephine

2023Undie Paul

2024Usanga Nse

2025USEWBO AMEZE

2026USMAN KAMILAH

2027Uthman Adeyemi Ahmed

2028UWALAKA EZEMDI

2029Uwukhor Theresa

2030UZOKUWU IJEOMA

2031Williams Roseline

2032WILSON PATRICK

2033WOJI PETER ALBERT

2034WORLU KINGSLEY

2035Wushishi Mohammed Kabir

2036YAWSON ANDREW & HELEN (REV. & MRS)

2037Yemidale Gbenga

2038Yugh Comfort I

2039Yusuf Bala

2040EMENEMUKA FRANCIS KELECHI

2041Ogunjobi Jerome Oluwafemi & Beatrice

Omowumi

2042Adebayo James

2043Afolabi Tunde

2044Ogunjobi Jerome Oluwafemi & Beatrice

Omowumi

2045ADEBAYO KEHINDE

2046ADIELE YVONNE

2047AKINBOYO IBUKUNOLUWA

2048Akinsanmi Folayemi

2049Akintomide Cecilia

2050AYODELE TITILAYO

2051BABATUNDE ODUBOTE & OLUWATOYIN

2052Banjoko Femi

2053Bassey Joy

2054ESISI ALERO

2055ETUMNI DARLINGTON

2056EZEAKUDO OSITA M. D. & PATRICIA

2057Falodun Oladeji

2058Famuyiro Yewande

2059FORESYTHE FOLASHADE

2060HUMPHREY HENRY

2061Igbokwe Uchechi & Ure

2062ITOHAN T. OMAGBEMI (MS)

2063Johnson Elizabeth Oluwatoyin

2064Johnson Temidayo

2065Johnson Tolulope

2066NYENKE HARRIET NGOZI

2067OBALANLEGE IYABODE A

2068Ogunnowo Patrick B

2069Ojo AFolake Adetoun

2070OJO OSAGIE OFURE JOAN

2071Okenla Agbolade

2072OKEUDO BENJAMIN ROSE

2073OKOH BABATUNDE & MODUPE

2074Okorie , Ambrose & Sunny ochiabato

2075OLADEPO LARA

2076Olajiga Ayodele

2077Oludoyi Olusola

2078Opeyemi A. Sobowale

2079SHONUBI TOLA HARRIS

2080UDONSAK MFON AMOSO

2081YAWSON ANDREW & HELEN (REV. & MRS)

2082Yusuf Aderonke

2083African Alliance Insurance Co Ltd

2084ABDELAZIZ SAIDU

2085Abdulazeez Zainab

2086Adedigba Temitayo Jeane

2087Adelakun Deborah

2088ADENIRAN STEPHEN MAYOWA

2089Adepoju Oluwademilade

Page 47: Asset & Resource Management Company Limited BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED 01 Managed by ... “Manager’s one-time charge” ... alone in its Q3 woes

46MANAGED BY ASSET & RESOURCE MANAGEMENT COMPANY LIMITED

2090ADEWOYE MARVELLO & OLUWATOMISIN

2091Adim Chidiebere

2092Agbaoye Olugbuyi Olawaiye

2093AGBOOLA SAMUEL OLUMIDE

2094Ajayi Oluwayemisi

2095AJIBADE KENNY & BARISUA (REV & MRS)

2096Akande Kayode

2097AKINBOLAGBE BOLAJOKO

2098Akinfe Yinka & Kome

2099AKINPELUMI KESTER KUNLE

2100AKOMOLAFE RUFUS ADEWALE

2101Alao Subulade

2102Amucheazi Ifeaoma C.

2103Anifowose A. Sikiru

2104Anifowoshe Omolola

2105Anochie Chimezie

2106ASHOFOR STANLEY UGBOLURIABOR

2107ATU EDWARD DANIEL

2108Ayanleke Ola

2109Bakare Wa'Dallah-haqqlin

2110Balogun Abimbola

2111Balogun Bimbola

2112Benjamin-Laniyi Adedayo

2113Benson Chloe

2114Benson Senzo

2115Bojuwoye Praise s.

2116BRIGGS BOMA NIMI

2117Buari Risikat Bunmi

2118Chijioke Emmanuel Sunday

2119Chukwu Frances Munachi

2120Daniels Christopher Enahoro

2121DARAMOLA ADEBOLA A.

2122DARE AF

2123EBISEMIJU OLUFELA (MRS)

2124EDI EMMANUEL BALA

2125EGBEYEMI FESTUS O.

2126EHIOKIOYA TARILA E.

2127EHIRIM MODUPE OLUFUNMILAYO

2128EMENIKE CHINAZA CHIDERA

2129EMIRI EZE CHUCKS

2130ESSIEN VICTORIA

2131Eyidengha Felix

2132EYO TEMITOPE JEANNY

2133EZE CHIBUIKE CYRIL

2134Eze Olasumbo

2135EZEOZUE COSMOS IKECHUKWU

2136FAMAKINWA OLAYIWOLA

2137Gaiya Sam

2138Gbadebo Ayomide Victoria

2139Gobert Chigbogu U

2140Gobert Chukwunonso J.

2141GODPOWER OLUNGWE I

2142IBI-ILATE AMONIA SYLVANUS

2143Igbavboa Smith Uduzey

2144Ikpoku Uyoyou-Oghene E.

2145Isheke Godspower O

2146Isong Ray

2147JOSIAH REBECCA

2148Kiri-kalio P.T.

2149KORIE JUDE CHIBUEZE

2150Laoshe Omowonuola

2151MAJI OJOGBOMUMI

2152Mbanefo Chinelo

2153MUHAMMADBABA BILKISU

2154NDULUE GRACE CHINELO

2155Ngini Daniel Chibuzor

2156Nwabuike Chiebuliem

2157Nwamara Ugochukwu

2158Nwaoduah Linda

2159NWEKE CHIKWUELU

2160NWEKE IFEOMA .B.

2161NWOSISI PATRIC C.

2162Nzegwu Lawretta Chinwe

2163OBY- IKOCHA JACQUELINE

2164OCHE GODWIN & EBELE

2165ODIGBO IKECHI CHIKEZIE

2166Odiyi Adamma

2167Odojukan Mobolaji

2168ODUWOLE ATILOLUWA

2169OFEIMU OJES

2170OFOEGBU UCHE HOPE

2171Ogbedebi Tope

2172Ogbolu Gloria Ebele

2173Ogbomo Ighedosa

2174OGUNLAJA MODUPE OLOLADE

2175Ogunmodede Emmanuel Oluwasegun Victor

2176OGUNWOBI OLORUNFEMI

2177Ojo Titilayo

2178Ojo-Osagie Adekemi

2179Ojo-Osagie Oluwaseun

2180Ojukwu Fidelia Afoma

2181OKOLI CHISOM ADACHUKWU

2182Okpo Eyo

2183Oladipo Ruth

2184OLADOKUN OLUSOLA

2185Oladosu Olawale

2186Oladuntoye Adeyinka Afusat

2187Oleka Jude

2188Olua Robinson

2189Olumodeji Idowu Babajide

2190Oluyede Oluwasolape

2191Omebe Anthony U.

2192Omotosho Festus

2193Omubo Dagogo

2194Onoja Elakeche

2195Onwuakpa Marcel Nonye

2196Onwuka Uchenna N

2197Osagie Ime Paschal

2198Osawemen Maria .i. (mrs)

2199Osawemen Obozokhai

2200Osayamwen Colliins

2201Ossi Ikechukwu

2202Osundu Eva-maria

2203Otuwho Goddy Eni

2204Oyeleke Monisola

2205Oyewumi Modinat Ayoni

2206Segun Oyewole

2207Sokari Chuks Monday

2208Soyebo Oluwatoni

2209Sunday Comfort I

2210Tegnov Investments Limited

2211Udodeme Chukwudalu

2212Umeh Chinenye Esther

2213Uruaka Victor Obinna