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Financials NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2016 Movements in the present value of the defined benefit obligation are as follows: Group & Company 31-Dec-16 31-Dec-15 ₦’million At 1st January Current service cost Interest cost Re-measurement (gains)/losses Actuarial losses/(gains) Curtailment Benefits paid At 31st December 4,966 - - - (4,966) - - ₦’million 3,034 646 449 944 - (107) 4,966 The major categories of plan assets, and the expected rate of return at the end of 2015 for each category, are as follows. Group & Company 31-Dec-16 31-Dec-15 Government securities Cash Money market instruments Liability on plan asset - Group & Company % % ₦’million 14 - - - 13 31-Dec-16 31-Dec-15 ₦’million 425 - - - - - - The fair value of the above assets are based on quoted prices in active markets as at 31st December, 2015 The actual return on plan assets in 2015 was ₦117.1 million Amounts recognised in profit or loss in respect of these defined benefit plans are as follows. Group & Company 31-Dec-16 31-Dec-15 ₦’million Current service cost Net Interest expense Curtailment credit Amounts recognised in other comprehensive income Group & Company 31-Dec-16 31-Dec-15 ₦’million Re-measurement on the net defined liability Actuarial (loss)/gain on defined benefit obligation Return on plan assets (excluding amounts included in net interest) - - - ₦’million (944) (47) (991) - - (2,985) (2,985) ₦’million 646 285 - 931 - 560 985 (11) 974 Annual Report 2016 203

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