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NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2016 33. Commitments for expenditure Group 31-Dec-16 ₦’million Commitments for the acquisition of property, plant and equipment 470,294 31-Dec-15 ₦’million 372,493 Company 31-Dec-16 ₦’million 257,877 31-Dec-15 ₦’million 213,673 The Company also has unconfirmed letters of credit amounting to ₦208.97billion (USD686.96 billion) as at year end. 34. Contingent liabilities and contingent assets No provision has been made in these consolidated and separate financial statements for contingent liabilities in respect of litigations against the Company and its subsidiaries amounting to ₦6.870 billion (2015: ₦32.015 billion). According to the solicitors acting on behalf of the Company and its subsidiaries, the liabilities arising, if any, are not likely to be significant. 35. Subsequent Events On 24th February, 2017 a dividend of ₦8.50 per share was proposed by the directors for approval at the Annual General Meeting. This will result in a dividend payment of ₦144.8 billion. 212 Annual Report 2016

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