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NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2016 14.2 Current income tax receivables Group 31-Dec-16 ₦’million Balance at beginning of the year Charge for the year Payments during the year Balance at the end of the year 14.2 Current income tax payables Balance at beginning of the year Charge for the year Payments during the year Arising during the period/Effect of currency exchange difference Balance at the end of the year 14.3 Deferred tax balance Deferred tax assets Deferred tax liabilities Net deferred tax assets/(liabilities) Group Recognised Effect of 2016 Deferred tax assets /(liabilities) in relation to: Property, plant & equipment Unrealised exchange gains Provision for doubtful debts Other provisions Tax losses Other Opening in profit or translation Closing balance loss ₦’million 2,760 (17,378) 392 784 - 3,403 (10,039) ₦’million (30,024) 4,553 (4) (1,852) 37,949 (290) 10,332 currency balance ₦’million - - - - - 6,122 6,122 ₦’million (27,264) (12,825) 388 (1,068) 37,949 9,235 6,415 - 9 - 9 Group 31-Dec-16 ₦’million 1,289 4,646 (1,128) (133) 4,674 Group 31-Dec-16 ₦’million 50,110 (43,695) 6,415 31-Dec-15 ₦’million 14,465 (24,504) (10,039) 31-Dec-15 ₦’million 2,481 1,042 (2,234) - 1,289 31-Dec-15 ₦’million - - - - Company 31-Dec-16 31-Dec-15 ₦’million - - - - ₦’million - - - - Company 31-Dec-16 ₦’million 1,305 3,673 (672) - 4,306 Company 31-Dec-16 ₦’million 26,255 (41,858) (15,603) 31-Dec-15 ₦’million 10,913 (23,998) (13,085) 31-Dec-15 ₦’million 2,481 1,037 (2,213) - 1,305 180 Annual Report 2016

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