Access Holdings Plc ($ACCESSCORP)

Distinguished shareholders. I welcome you to the Fourth Annual General Family Meeting of your company Access Holdings plc. I now declare the meeting open. And may I request Pastor Erik, to kindly lead us in an opening prayer.

We pray, our heavily father, we thank you Lord this year. We appreciate your goodness for making it possible for us to gather together as a family. Lord, we thank you for the leadership of this company. We thank you for shareholders. We thank you for Nigeria at large, Father beotedSOnave in Jesus name. Lord, we are here today to deliberate on the way forward to our company. We commit everything into your hands. Father lead us and direct our deliberations in the of. Lord, we are crying on to you as shareholders of Assets Holding plc. One thing is missing in our agenda this year, and that is declaration of dividend. L will cry on to you that next year father by your messy, you will give us good dividend to this leadership in the of -- at the end, we pray that shareholders of Access Holdings Plc will continue to enjoy our dividend and our investment and the leadership will continue to work stronger. This is our request for in Jesus mighty name.

Thank you, Pastor for the opening. I would like to call on the registrars, Coronation Registrars Limited, to confirm that the necessary quorum for this meeting has been met.

Good morning, Mr. Chairman, Directors, regulatory officers present and esteemed shareholders. My name is Mira D, and I represent Coronation Registrars Limited, the registrars to your company. The Article of Association of your company prescribes the quorum from this meeting as members personally present not being less than 50 and holding or representing by proxy not less than 1/10 of the issued capital of the company. Please note that at the start of this meeting, we have 292 members physically present and 182 members represented by proxies with a total of 22,279,026,639 shareholding, representing 40.97% of the company's issued share capital. With this information, I hereby confirm that a quorum has been formed. Thank you.

Thank you very much. Distinguished shareholders, at this point, I would like to briefly introduce officers of the Board present here. Given the technological advancement of society, this meeting physical is also being conducted virtually. Mr. Abaca Gimo, Independent Non-Executive Director, participating virtually; Mrs. Oginica Olager, Non-Executive Director in person; Mrs. Fatima Bllusmal, Independent Non-Executive Director in person; Mr. Oluguwu, Non-Executive Director virtually; Mrs. I AM, Independent Non-Executive Director in person; Mr. Larry Bamishib, Executive Director in person; Ms. Aged, Executive Director, E Active Managing Director in person; Mr. In C I, Group Managing Director, Chief Executive Officer in person; -- the shortest executive on this table, the Company Secretary, Mr. Suykoi in person; -- and finally, myself, Mr. Aigboje Aig-Imoukhuede, Chairman of the company. Thank you very much. We also have here present at our meeting, the Central Bank represented by and the Securities and Exchange Commission represented by the NDIC represented by and Mohamed Usman virtually. NGX Regulation Limited, represented by Peggy Hay, the Corporate Affairs Commission represented by -- the company's statutory auditors, KPMG, represented by Kabir Okola,uci Albert, the Board evaluation consultants, Ernst & Young, represented by Aboki,bei,ena Olarwaju and Luciagodo. The company's registrar Coronation Registrars Limited, represented by A, Mary -- the company's statutory Audit Committee members, Harry Omarlarao, Chairman; Iidiergogan, member participating online; Aki, member here present. May I inform all present that Rovi microphones are available for use during the meeting. Please indicate by show of hands to second the resolution or ask a question, and you will be recognized. When called upon to speak, one of the ushers will hand you a microphone. May I request that you speak clearly into the microphone. Kindly state your name and endeavor to be brief straight to the point. The meeting is being recorded and is also being live streamed. I would like to inform members that the register of shareholders is available for inspection during the meeting. I would also like to inform members that in line with Section 3018 of the Companies and Allied Matters Act, I will refer to it as CAMA going forward. The register of directors shareholdings are available for inspection during the meeting and can be found on Page 80 of the annual report and accounts. In accordance with Section 2842 of CAMA, the record of directors' attendance at meeting is available for inspection during the meeting and is contained on Pages 95 to 98 of the annual report and accounts. I will now call on the Secretary to read the notice of the meeting as contained in Pages 338 of the annual report and accounts.

Thank you, Mr. Chairman. Notice of the Annual General Meeting. Notice is hereby given that the Fourth Annual General Meeting of Assets Holdings plc will hold at Bora Convention Center, Feder Palace Hotel, Amado, Victorialand Legos on Wednesday, June 10, 2026, at 10 a.m. You will be asked to consider and if thought fit, pass the following resolutions. ordinary resolution ordinary business ordinary resolution. one, to receive the company's audited financial statements for the year ended 31st December 2025 and the reports of the directors, auditors, Board evaluation consultants and Statutuditommittee thereon; two, to elect Mr. In C.K as Group Managing Director and Chief Executive Officer; three, to elect Mrs. Ibironkei as an Independent Non-Executive Director; Four, to reelect Mr. Lisono-Executive Director; five, to elect Ms. reelect Ms. Oicalager as a Nonexecutive Director; six, to authorize the directors to fix the remuneration of the auditors for the 2026 financial year; seven, to disclose the remuneration of the managers of the company in line with the provisions of Companies -- at Act 2020; to elect or reelect members of the Committee; , that in compliance with the rules of the Nigerian Exchange Limited, government transactions with related parties or interested person in the company and its related entities group, be hereby granted a general mandate in respect of all recurring transactions entered with a related party or interested provided that such transactions are of a revenue or trading nature or are necessary for the company's day-to-day operations. The mandate shall commence on the date that this resolution is passed and shall continue to operate until the date of the next Annual General Meeting of the company this day of May 2026, signed Company Secretary, Say Goi. Thank you.

Thank you, Sandy. I declare the meeting duly convened and properly constituted. Distinguished shareholders, I do not intend to read the Chairman's statement. You have given me permission to take the statement as read. Let us now proceed to the formal business of this meeting. Distinguished shareholders, each of you would have received copies of the annual report and accounts of the company for the year ended December 31, 2025, either electronically via e-mail or physically via post through the registrars. I would therefore like to take them as read. I will now ask the representatives of the statutory auditors, KPMG, to present the statutory auditor's report, which is found at Pages 129 to 138 of the annual report and accounts.

Good morning, the Chairman, shareholders and the Board members of Access Holdings plc. And my name is Kabir Ukhola once again. May I request your permission to present an bridge version of the auditor's report, sir?

The shareholders are the ones to give you that permission, and I hear they say go ahead.

The shareholders, please pardon me. May I request your permission to present an version of the report. Thank you very much. The independent auditor's report to the shareholders of Access Holdings plc report on the audit of the consolidated and separate financial statements. Our opinion -- we have audited the consolidated and separate financial statements of Access Holdings plc, the company and its subsidiaries together the group, which comprise the consolidated and separate statements of financial position as at 31st December 2025. The consolidated and separate statement of comprehensive income, the comprehensive and separate statement of changes in equity and the consolidated and separate statement of cash flows for the year then ended and notes comprising material accounting policies and other explanatory information. In our opinion, the accompanying financial statements give a fair view of the financial position of the company and its subsidiaries as at 31st December 2025 and of its financial performance and cash flows for the year then ended in accordance with IFRS accounting standards as issued by the International Accounting Standards Board and in a manner by the Companies An Matters Act, the Financial Reporting Council of Nigeria Act and the Banks and other Financial Institutions Act and guidelines and circulars. With your permission, the basis of the opinion, I will request to be taken as read. We also reported on key audit matters in the following areas: expected credit allowance on loans and advances. -- valuation of derivatives and accounting for business combination for acquisitions during the year. With your permission, I also request those to be taken as read. We have report on other information in the financial statements as well as responsibilities of the directors and auditors. With your permission, I will also request those to be taken as read. I move to Page 137 on our report on other legal and regulatory requirements. With respect to the compliance requirement of Schedule 5 of the Companies and Other Matters Act 2020, we have obtained all the information and explanation with to the best of our knowledge were necessary for the purpose of our audit. In our opinion, proper books of accounts have been kept by the company as appears from our examination of those books and the company's statement of financial position and statements of comprehensive income are in agreement with the books of accounts. With respect to compliance with Section 26 of the Banks and Other Financial Institutions Act and the Central Bank of Nigeria Circular BSD 1 2004, the group and company paid penalties amounting to ZAR 1.8 billion in respect of contravention of the Banks and other Financial Institutions Act of Nigeria and the CBN circular during the year ended 31st December 2025 as disclosed in Note 41 to the financial statement. Secondly, related party transactions and balances are disclosed in Note 43 and Note 45 to the consolidated and separate financial statement in compliance with the Central Bank of Nigeria's circular DSC 1 2004. And finally, with respect to the compliance with the IRS guidance on assurance engagement report on internal control over financial reporting. In accordance with the requirements of Financial Reporting Council of Nigeria, we performed a limited assurance engagement and reported on made assessment of the group's and company's internal control over financial reporting as of 31st December 2025. The work performed was done in accordance with the international standards on assurance engagement. The report on internal control over financial reporting is included as part of the annual report. We issued an unmodified conclusion in our report dated 30 April 2026. My name once again is Kabir Okola, who I'm on behalf of KPMG Professional Services. Thank you very much for listening.

Thank you, Kabir. I will now ask the Chairman of the Audit Committee, Mr. Harry Omashalaao FCA, to present the Audit Committee's report on behalf of the committee. The report is found on Page 104 of the annual report and accounts.

Good morning, everybody. Report of the Statutory Audit Committee...

Sorry, Page 104. Report of the Statutory Audit Committee to members of -- as Holding Limited. In accordance with Section 404 of the Company of Niaudommitteby report on the financial statement of the year ended 31st December 2025 as follows. We have assessed our statutory function under Section 404 of the Company Act of Nigeria and acknowledge the cooperation of management and staff in the conduct of our responsible. Opinion that the accounting and reporting policy of the company and group are in agreement with legal requirement and agreed ethical practices and the scope and planning of the external and internal audit for the year ended 31st December 2025 were satisfactory and reaff group internal control system. We are satisfied that the company has complied with the provision of Central Bank of Nigeria circular BSG 2004 dated 18th February 2004 on disclosure of insider related credit in the financial statement of the bank. We hereby confirm that an aggregate amount of 131.8 million was outstanding in the bank, which is the subsidiary of the company as at 31st December 2024 -- 2025. In 2024, 11.8 million at 31st December 2025, Note 45. We have deliberated on the findings of the external auditors, and we have confirmed that necessary was received from management in the course of the audit. We are satisfied with the management responses there and with the effectiveness of company's system of accounting and internal control. Members of the Audit Committees are Mr. OaChareholder Chairman; Mr. Go, shareholder member; Mr. Company Secretary. Thank you.

Thank you very much, Mr. Raoavydutyareers Audit Committee, FCA -- to facilitate the smooth conduct of the business of the day, I will move each motion and invite seconders for each motion from the floor. The seconders are kindly requested to state their names to enable the secretary to take note. Voting on the resolutions to be passed during the meeting shall be by a simple majority on show of hands using the coronation virtual electronic voting device, which I believe we all have unless a poll is validly demanded. I will now call on the registrars to describe the voting process to shareholders.

Thank you, Mr. Chairman. I will now proceed to explain the procedures for casting your votes using the various options. re shareholders, please be informed that we have captured a total number of 182 shareholders votes received by proxy and holding 22,232,080,292 units, representing 40.89% of the issued share capital. In addition to the proxies received, we will be capturing the votes of the shareholders present at this meeting to arrive at the final voting results. For shareholders attending physically, you have been assigned a voting device that we have configured to represent your shareholding in Access Holdings plc. On your voting part, the botton 1 or A is for a yes vote, B/B is for a no vote and 3 or C on your voting part is for an abstain vote. Once the voting commences, please press the reference button in accordance with your decision and note that each shareholder can change their vote during the voting period. But once the voting period has ended, the last button you press will be recorded as your vote. For shareholders voting using their mobile devices, scan the QR code with your phone camera or visit vote.coronationregistrars.com on your phone browser. Select company event, access Holding plc AGM, type in your shareholder number and access code provided during the accreditation and press the log-inton, ensure you accept the privacy policy. Once logged in, an number line appears at the top right corner of your device to show attendance status. When voting begins, the resolution will automatically pop up on your screen to cast your vote. Once the voting session commences, the voting options for, against and abstain will pop up on your device screen. Please click on the preference button in accordance with your decision. Please note that shareholders can change their voting during the voting period. But once the voting period has ended, the last button you pressed will be recorded as your vote. Thank you.

We now come to the first item on the agenda, which is to lay before the meeting the company's audited financial statements for the year ended December 31, 2025, and the reports of the directors, auditors and the Audit Committee thereon. I now lay before you the audited financial statements for the year ended December 31, 2025, and the report of the directors, auditors and Audit Committee previously circulated to all the shareholders in line with Section 388(1) of CAMA. Before we put the annual report and accounts to your vote, we would like to take your questions and comments thereon. Please remember to give your name and make use of the microphone.

The gentleman -- sorry, sorry, sorry. In line with our traditions and protocols ever since you made me Chairman, the lady Yes, yes. Yes.

Chairman, I thank you for the opportunity you've given to me. Our able Board members, regulatory authorities here present and all my distinguished fellow shareholders. My name is Oliwaope, and I'm the National Secretary of the Zonal Shareholders Association, National Coordinating Committee of the Zonal Shareholders Association. I welcome all of us here today. This meeting today, I would say, is almost historical, historical in the sense that we have all known that a few things might not be together today. When my colleague here made the prayer this morning, he told us about an item that was missing from the agenda. I think we all recognize that even from last year, when the issue of forbearance was discussed and mentioned, we knew that this year would be something like this. So I would say that we hope that next year will be better. But I want us to look at Page 11. You will notice that all the indices there are positive. And with all the indices being positive, shareholders fund profit before tax, profit after tax, yes, in fact, I'm really pleased that the profit before tax was over IDR 1 trillion. That gives me the indication that next year, hopefully, the profit after tax that will be available and what will be available for us to share will be in line with that. And we are hoping and praying that, that should be the position. I noticed all the -- in spite of all the difficulties in Nigeria, I noticed all the awards that our holding company got over 20. If you look at Page 12, you see that we have -- we got over 20 of the awards. Yes, let's give them a round of applause for that. One of our subsidiaries of particular interest to me. By the way, I like the names of our subsidiaries, both oxygen and hydrogen. One of the -- 2 of them, one is oxygen, one is hydrogen. I want to comment on the one called hydrogen. I'm actually very pleased with what I saw regarding hydrogen that in 2025, we -- the transaction that we processed was a value of NGN 85.9 trillion, which is 75% over above what we did the year before. However, I think that there is still room for improvement because we now see that fintech companies, they are as it were packing all our customers. I was surprised to learn that some of the fintech companies were microfinance banks. And if microfinance bank could do what they are doing, I think that we can do better. So there is still a lot of room for improvement. If you go into the retail customer business, you find out that even Chinese company, Chinese company for that matter is the 1 that is taking all the customers. I don't want to mention NIMs, but I believe that many of us know them no particular ones, and then a few others -- so I want us to be able to have our POS machines everywhere, so that more and more transactions can be processed and good things will come -- in -- I believe my other colleagues will comment in details about the accounts. But a few things advice I need -- I have I want to pass on to the Board. About last weekend, about the last weekend, I read a story in the newspaper, concerning a challenge NOS who suffer from optic nerve atrophy. And -- as a result of that, she was discriminated against. So what I saw on Page 85 that we do not -- we do not have any percent challenge in our employment. I was touched and alarmed that I hope we are not discriminating against people who are challenged because we need to be able to give the opportunity. We have -- we are no longer just a holding company. Our company is an institution if we are in over 20 countries in 4 continents, then we should be able to have at least 1 patient who we have helped a challenged space in who we have helped. And I think we need to do that. Then another issue that is of concern to me is it looks small but is on Page 108. It has to do with cash theft, so pressure on per fridge and dry posting. The year before, it was just 19 and the year on that consideration, it was 26. Now these actions, cash tests, suppression, fur-free, dry puts not done online. They are done by our staff on ground. It immediately showed me something. If -- the year before it can be a particular number and then the year-one concentration is increased even it by 1, then there must be something wrong. And it means that I know that are off I believe that they are well treated, but perhaps you need to look into -- look more into the staff welfare because perfridge, dry posting and -- so tippers on. They are not things done by a person who is not in need. The person is in need and want, and that is why the person is doing it. Well, of course, we've all seen the contravention, the mindset fine that we paid in the contravention when it was rate just now, 1.8 billion. I think you can -- the whole signed -- but I think that we have been in this business long enough to be able to do a way with so I know what CBN needs. So as not to be caught by penalties. Lastly, I want to comment on something I just saw this morning. I don't know what is a mistake. But as we came into this registration hole, we were 100 a bottle of water and 2 snacks that sorry. Sorry, 1 donut. Okay, 2, we are giving to me although I didn't take it. But what I'm commenting about is the fact that we are giving to us -- and that's not good enough. I think they should have been put into a package, a bag or something. At least what I was in a of to me, because it was given to me naked, and I said to the present, why it's not in the bag. And I couldn't take it because I was holding all the things. So I think that next time, whatever it is that I want to give to us, please, let it be.

Thank you very much, bring the microphone. Okay, gentleman is already standing.

Thank you. I'm Abu Chairman led on an industry, President of many conglomerate industry, energy and are abroad. My name is, I'm a President of Professional investor across Africa, Lederle, Nigeria. My Chairman, appreciate the Board, yourself, our management team. for this report. Really it's historical because we are considering 2025 at the middle of 2026. My Chairman, we really appreciate the Board, all the management team for job well done. If we are looking at the report thoroughly, the company performed very, very well. We -- you deserve to be from this side. My chairman not because of regulatory requirements that guiding the operation to a certain level. We will have gone with the dividend is timeline. That is our intention because we go through it, $1 trillion is not too in industry, especially industry. But my area that I want to call attention into an area of reach risk exposure and risk culture. There's a lot of risk subsidiary across the world. What are you putting in place that we won't be filing regulatory standard because of issue of a subsidiary and a loan exposure to many managed subsidiary company. as turn call our attention to issue of a key audit matter. So, as a professional mature, we need better explanation on this area. Your segment report in Page 40 is fantastic. And we are looking at what the 5 years plan, that can be able to guide us that we're able to have less of mine for this industry. issue of contravention and litigation, as a chairman I need to be brief. Last year is NGN 1.2 billion and increasing to NGN 1.8 billion. What are you doing? It could be first not to have a record of contravention in our in our book due to the issue of image. Finally, there's an information in this report that we have a lot of litigation -- why can't you set to some of the out of the court? Or what we do have in plan? Finally, we look at our net impairment increased by 11% to 10% due to the issue of loan and operating expenses increased to NGN 960 billion. Personnel expenses increased to NGN 50 billion. What are you doing to cut cost. Thank you for opportunity and god bless my Chairman.

Let's move this way. We'll come back.

Good day, -- good day, Mr. Cam respected Dignity I acknowledge your presence and my fellow shareholders, we are not overlooked. I am King Adiba Adiola Adlan. Coordinator providential shareholders association of Nigeria. While is taking in you for the floor. I appreciate the efforts of management in VBB's 2025 results. While for the floor, I appreciate the efforts of management in delivering these 2025 results. Before my question, kindly permit me to comment the company secretary and the secretarial team for their excellent preparation, meticulous coordination of this AGM. Your hard work behind these things is often unseen, but deeply valued by shareholders. Thank you for a job well done. Now my questions. Mr. Chairman, I commend the Board management and staff of Access Holdings plc. Mr. Chairman, I comment the Board, management and staff of Access Holdings plc for the resilient performance delivered in 2025 despite a challenging operating environment. Congratulations to Board and management for a record profit before tax of over NGN 1 trillion in 2025, given that a significant portion of earnings was supported by fair value and foreign exchange gains. What specific measures have been taken to ensure that Fuso profitability is increasing driven by sustainable core banking operations rather than market-related gains. #2. On shareholder value creation, -- the group has successfully grown Ennis and stretching its capital base. As a holding transition from a strategic focus on scale to 1 emphasizing value creation and efficiency. What key performance -- what key performance indicators should share us monitor over the next 3 years to assess whether this transition is translating into superior shareholders' returns. Lastly, on diversification strategy. The 2025 result highlights the growing contribution of the group's nonbanking businesses, including pensions payments and other financial services, what proportion of group is does the board effect these subsidiaries to contribute in the medium term and how will this diversification reduce this cyclical risk associated with traditional banking. Thank you, Mr. Chairman for the opportunity to engage.

Thank you very much. Please take the microphone this way.

Thank you. Mr. Chairman, assessing distinguish directors of a great company, further distinguished shareholders. My name is Okeanis Mr. Chairman, I am just awarded this morning. The 2 speakers previous before me have spoken that is historical. And I can corn I agree with them. But then this place today this meeting were holding have offers us opportunity to query our regulators. And somebody will say who regulator regulators. And I believe that CBN should be a continuity. Another 1 CBN government would not exit another will come in and turn the cobot at the middle of the game. That is totally wrong. What have been here and already in the media today is that -- some of the banks that are paying dividends despite the 1 trillion to us, they're made. That's the exposed in oil and gas, net provisions. But is not a case. I was sore in the media that CP have bought Access Holding plc. to reduce our foreign banking subsidiary that we have would see men in their wisdom, which would change for them to approve before we go outside either for Africa or Europe to open a branch, have asked us to reduce it to 10% -- that's why I asked. is not a continuity. And if they are, why should that policy so thought affect a loss. If you look at 2017 now, I'm voting here Mr. Chairman. -- with gross hedging of NGN 5.5 trillion gross earning and profit for income tax, NGN 1.007 trillion. Look at our earning per share, Mr. Chairman, NGN 1,348. That's earning. That's the highest I've seen so far. What does that mean? If we give out NGN 500 dividend to date from that earnings, is it bad? And somebody will look at the results. What we're not said at Access Holding plc. had more platform extraordinary. Besemer to look at an open because we turn to market last year to raise -- and you are the first in the industry to recomplete bank, which is the main subsidiary to NGN 600 billion as against NGN 500 billion by -- even if the exposure in oil and gas, they're not paid interest to the bank, because that is where shareholders derived there accrue earnings on income in form of dividend. Repayment repeat reprice does not affect us because other people will be in line, the apply for stand-alone. But all said -- this benefit punishment to shareholders that will most reduce our network. Would the except give you go ahead as published. It's not the policy. I think government need to rethink. In the past, government used to have both of CBN. But today, that military mentality is in Nigeria, no years of democracy. anyone appointed their behave abnormally. That is the problem. That's worrisome. Mr. Chairman, I'm going to stop you on Page 251. -- the same policy to date. We are paying NGN 17.17 billion to [indiscernible] Mr. Chairman? Mr, Chairman what does it lead to us. We can say the bank is not doing well. if we pay such good amount to an come for doing nothing. For the renewed not so -- what are we talking about? NGN 154 billion to income what would be the highest in the industry, 0.5% because the more ending, the more they are through will be expanding to collect from you. Since CBN provision, that function also a provision, not to be bad out. If they provide us have left empty handed and to politico to go with. I am not done yet. We have to NDIC collected NGN 73.17 billion. Mr. Chairman, that is outrageous. And yes, even better should be considered because they are sides on networks, 150,000 near to the project who lose the investments in the banking sectors. But today, what is the uncovered in the industrial. No performing loan, why should the income not take it up, understand to pay us the cash, if there is earning, they are not to get anything Collecting the free money market work, Barbone job. Some of the staff were not all that will leave this money to come And they got 1 maybe the gene are left off and somebody will work out collecting the money. No wonder that is fortunate and fraud in the industry because the mode that we used to pay part very well. I'm a shareholders. Some of them are not working it in. That's more fun in the bank and taking the or billions away. How do we go forward as a nation? That's our private companies. It's not owned by government. If the government is the government made a shareholder through the investment of government come or whatever, and it stops the dividend. Mr. Chairman, how do we go forward? There's not other sessions, whether ask you not to make provisions by CBN, I don't touch to hedge against uncertainty still after you pay for income. What is the combat is the role of income in the financial industry -- because that's not going down today. Every bank is strong and healthy. What is the role of income? 10 years are spare. They're still continue. Unfortunately, the robust assembly give them ahead to continue to exist. That's the problem I'm having today. With this result today, shareholders with here and planning for a for these institutions. Mr. Chairman, it's just a sad story for Nigeria. Somebody we're talking about expenses, our running business is in Nigeria to run a business in Nigeria, increased energy cost today, maybe restarting to solar and vatic is not easy to come by. -- you run other branches. Mr. Chairman, I want to comment auditors for not increasing their fees in trilon.come in KPMG is friendly or they talk with shareholders. Yes, they are. I can fight for them. honestly. I've seen the recheck away. So Mr. Chairman, I want to appeal to shareholders to continue the pace -- by the end of this month in, I think the Board will propose interim dividend to us. So compensate the final dividend that would not get in 2025. As a Chairman, I know you can do it because Access is sources and progress. Mr. Chairman, despite the rent since last night to this early morning, can you see a crowd that came to support that came to greatly wonderfully AGM because you have good shape. When you came to this money all the directors, you go around the grating. you don't set a bit. Everybody work, everybody -- that's the humility. That's market spend and shareholder hardest. God bless out shareholders.

Thank you. I think we have heard from a number of men, let's go back to the females, to the ladies.

Thank you, Mr. SP1 Thank you, Mr. Chairman, for the opportunity give it to me. My name is Ms. My name is Ms. Bakari, BC Olu IMC, I'm the National Coordinator of Pragmatic Shareholders Astion of Nigeria. I should share myself with the earlier shareholder, our performance for 2025 financial year is very good. And I hope that the trend will continue in many years to come by Gods grace. Having said that, I want to comment the company Access Holdings Plc that is on Page 47 to 49. I want to comment our company for promoting gender diversity across the group. -- with female representation between 46% and 58% in most of our subsidiary. And therefore, finance that are reported just 22%. But looking at overall gender diversity is slightly commended. Having said that that I want to also comment our growing international footprint. We saw Access acquired 74.8% stake in Standard Sata Bank Gambia and completion of the acquisition of Sasa consumer private operators in Tanzania. My first question, Mr. Chairman, on the issue of poor assets quality and impaired losses, I want to ask that how do we hope to address the growth in our impaired charge on financial assets. This moved from NGN 245 billion to NGN 523 billion. While Sota impaired loan rose to NGN 468 billion. So how do we hope to address this -- further on, okay, they've talked about that, sorry. Page 6 -- though we have declined our resort complaints pending from 24,420 million to 6,575. So what are we doing to further reduce the complaint level and show security of our digital channels and improve our cybersecurity system. On a final note, Mr. Chairman, I watched you to clarify something to some of our shareholders.-- called Sini Amcon. From my own not outstanding, the Montney Annan banks, the amount they recovered from the toxin loans. They have presented discharges a sense, they agree with the banks. I think on assets and another NGN 0.5 million from financial or something. It's whatever they recover that they get their own pay for for or is the bank that is giving them the money or the money for Amkor is the charges on the loans they recover for the bank. Thank you once again for the opportunity given to me, sir.

Distributor shareholders -- it's not the year that we don't pay a dividend that I will restrict shareholder from talking.

Mr. Chairman, the Board of Management of Access Holdings Plc, regulators President, our Audit Committee, Mimas, issues fellow shareholders. Good morning. My name is Alabama Muhtar, Chairman of the -- those Shareholders Association of Nigeria. Mr. Chairman, when you mentioned the maps, they are the shortest man on the board. Short men, they don't want to be short men, you can't the etalement in miscanthus, -- but we call him the tallest man and because you can't quote them some because not to be very offensive to them. Then equally, I said, but someday in the shortest man -- the tallest man of the Board. So that is why you have been giving us -- you have been very good at supervising and giving direction to the bank. So we are very happy with this fantastic result -- you can see your personality always -- right from 25 years ago on BMD, CEO of ApesBank, your personality magnetizes most of the to the bank. -- you can see even now it is taking place. Most of us, the shareholders, you can see right from those sales every year in outbase local in full house. in terms of tenders. -- is because of good hard and the good things you are doing the teal disciplined where you are managing the bank. So we're very gateful for that. Give a round of applause, please. Mr. Gentlemen, let me start by -- I think the tone minileases informing the people about controlled in the banking industry. If we talk the history back some few years ago, some parks were about color to bank loans. I want this care on board, the injected modes on both of those bad loans. Now how do the bottled loans, some maintainers are yet to pay 3 loans of loan those bad loans. So I can confirm or when they are still owing some big, big engines on some big companies. I think we should be telling the people the truth under visited your point about that. I think they are not -- I don't think they're just collecting money from. But maybe from an come because of the percentages was agreed. So as in uncontested money, they got of the bad loans. And now they are getting the people to pay but -- so I think we should allow to to go mention alarm going to finish the corporate their monies. And then if they are -- no problem about that. you will use those sometime in the, I don't know that I'm right, but they pay only 50,000. Is it correct or so? Okay, it's not correct. But I have to see in cement, why do we get to a figurr. So Mr. Chairman, I think the regulator is just like the dividend that dispensed, we should be most give approval. Yes, as market because I think of the new CB requirement that -- which we want to seek their approval before they won't for the dividend. I think As -- we may see it as very wrong or not, but maybe there are some figures -- there are some things that Ceban is considering in order to regulate the banking industry. We don't know, but I'm sure there are some things that they are considering, which are not private to us -- so I don't think it is right for us to comment to be condemning them to be saying what they did was strong because I'm not part of the regulators. I think we should be honest in some of the synthase. Mr. Chairman, we are very happy that the growth balance sheet continued to expand in a disciplined manner. You can see the total assets increased to over NGN 51.56 trillion. I don't know. I have problem, maybe the sugars. So forgive me if I do something wrong if I didn't say if you go right. In 2024, it was for NGN 41.50 trillion. Mr. Chairman, revenues also increased to NGN 5.32 tillion are from NGN 4.8 trillion. Mr. Chairman, customer process also grew strongly, which reflects both franchise trends and deepen customer, because if customers don't cross a bank they cannot increase the deposits for that bank. So Mr. Chairman, this is very commendable. Capital adequacy remained strong also supported by generation and prudent capital management. Mr. Chairman, the profit is for tax. I don't see well botomation, I may as open. The profit before tax was over NGN 1 trillion. Mr. Chairman not just rile sit on this balance sheet. How did you achieve them NGN 1 trillion as soon as small money. How do the bank achieved this excellent feat. Mr. Chairman, how are we positioning for the challenges that lie ahead. I can see smaller banks bringing up in Nigeria. And I'm very sure in some few years' time, the CBN will talk about capital increase for such banks. And I'm sure some of them may not be able to make up, how are you positioning ourselves to acquire some of them in the future and to position our bank for the challenges that lay ahead. Then Mr. Chairman, I will consider any interim dividend for the shareholders. Mr. Chairman, I will consider any interim dividend very soon. Lastly, Mr. Chairman, I have to comment -- the registrar, the shareholders live platform. What we can have it very fantastic. They just you say you come with your phone and you see everything there. You just -- real-time clearance you just kind your phone and you just get cleared and you come into the meeting. I think this is very, very commendable. very commendable initiative. I think Mr. Chairman, this kind of very positive initiation introductions are what we expect from our register very happy. And they haven't told me that do is out, you can buy even online with that application. You don't have to survive yourself. Yes. So shareholder get ready to that application and be ready to buy more into any public offer that is coming. Mr. Chairman, lastly, I would like to comment all members of the Board and the management for the fantastic results have given us the 2025 result. I think it is not historical because it has plus our bank or the most in footing it has placed our bank to be stronger. So we cannot only historical have to also celebrate it. So I'll comment a lot you Chairman, may continue to give you the wisdom and the strains and the good health and the long life to continue to grow our bank. Thank you very much.

Mr. Chairman, please want me to be seated while making my contribution my voice may not be now that it used to be. However, I believe you will have Mr. Chairman, let me stand on existing protocol. But I quite disagree on some of the points raised because we are not here to defend the regulators, rather, we are here to work towards the benefit of our fellow shareholders. Mr. Chairman, I honestly disagree with this huge amount paid to AMCOM because they have over state. And I personally have a growth with Central Bank. Central Bank is not a shareholder in our company neither the governor of Central Bank, they cannot be dictated to us even though they are regulators on what will happen or how the bank will take care of our shareholders. We are the seed providers and which we enjoy the better fit of our money in the bank. We have had that Central bank is 1 curtailing banks not to pay dividend. But I honestly, is agree with that because Central Bank is not shareholder in any of the banks. But however, my joy today is that it's a joy for, there's a rate that is a painful rate. It's sawatorange in banking sector by already on. Mr. Chairman, let me say that question of interim dividend should not be based on the Chairman, but it's a collective decision of the Board to pay interim dividend. And as the remedia I go with this bank. It is very strange that assets did not pay any dividend. But however, my appear to my fellow shareholders is to access, they have had us and I'm sure they know what to do. They see the window before December that we won't do as much is coming by -- we will still have something from ourselves as interim. I as passes a lot of money to take care of myself. At least you saw me when I was coming in, I was limping, but I said that I must be at this AGM. So Yes. Sorry, my name is a Majeti Santo the for local an and. -- or local shandies of gold, the Asian Kingdom nominated Milanos to be their leader and it's because of the knowledge of my activision for 50 years in the capital market that they are not met with that. So it also had to change my name, my -- everything about me, my address system to Istria, Mysta -- thank you. Thank you, to my fellow shareholders Yes. So let me see, I would face. Yes. My brother, b, -- congratulations for the tone of what you have made on this bank. It is the respect they have for us sales bank. But I've said it severally that let us stop this expansion and review all that we have done in the past. And now how far we have gone. -- whether it's okay or not. It's -- and looking at this on volume not annual report, please, I would like you to donate a pitch to display the picture of Habit because you are all working together to make this thing Well, there is something in every table that is inevitable data, seeking him bit. Let us -- each time we look at the annual report, we see is pictured here will remember the effort of high-bond hat. -- in showing the progress of Access Bank. I want to thank you for giving me the opportunity to talk while I'm expecting the declaration of interim dividend, which we make my happier. I know we're into so many thing let us review ourselves and know whether this, they are producing the desired result that we need to enjoy from the group. Thank you very much. I also want to congratulate the company secretary. -- who is also doing every team necessary to make sure that the shareholders enjoy the service of secretariat of the company. Mr. Chairman, thank you.

Thank you very much. I think at this point, we should at least try and respond to the comments and the questions that have been raised because if not withstand the risk that by the time we exhaust all our shareholders' questions, we may have run out of space to write down the points. Let me add this juncture, even though he has been introduced to shareholders in the past. This is the first Annual General Meeting -- is the first Annual General Meeting that Group Managing Director, CEO, Mr. Innocent Ike, will be attending. And I think he should be -- should stand up for proper recognition -- but clearly, given that he's going to be answering a number of these questions. And it is possible that because some of these questions may require answers from the team, the elsewhile acting CEO, your wonderful, powerful Ms. Bolajiagbede is also here to also support him in those answers.

Thank you very much for your questions. I will try and take on either those that were directed to the chairperson or those ones that are easy and I leave the difficult ones to management. But certainly, from Mr. Top through to even the last Pekao was -- the issue of dividend was raised by every shareholder who spoke on the microphone. And I think I should address that issue first. In addressing the issue, I want to take the opportunity to clarify beyond the various formal communications that we sent out following our results release some weeks ago. The actual position of things vis-a-vis are in ability to share a dividend with our shareholders from our 2025 financial year. Take note that I did not say inability to pay, I said, to share. As you all rightly pointed out in 2025, your group of companies, recorded earnings in excess of NGN 5 trillion record setting grew total assets in excess of NGN 50 trillion record setting and joined the 2 other banks only who operates at the profit before tax level of NGN 1 trillion. Without a doubt, those results do not speak to an institution that cannot pay a dividend. Of course, we can pay a dividend. It therefore implies that we were restricted from sharing dividends with our shareholders for specific reasons. -- that between the time that I joined the Board of Access Holdings in 2024, and now -- there has been no new Central Bank regulation that pertains to the issue of dividends. So we are not talking about the Central Bank issuing any new regulations or passing any new laws. I want to clarify that. What has happened, and I was aware of this before I joined the Board of Access Holdings. -- is that the current Central Bank Governor and Committee of Governor made clear to the banking industry and Nigerians, that they would ensure 100% compliance with banking regulations by operators. If there is anything new, it is distance or the central bank that if the loss is something, we will ensure that banks operate by whatever the law is. Now the word for Bras was used by a number of our shareholders and for different reasons and at different times, prior regimes have given the operators forbearances against certain compliance requirements as BofI and other laws. We were giving time to ensure that we came into compliance with any forbearance that was enjoyed. The Central Bank has made clear that beyond that time, the use of their power to restrict the sharing of dividends will be applied to ensure that banks go into the 100% compliance range. We have, just like other banks, a number of these issues that for variances were granted in the past against which we have been assiduously coming into compliance. We have 1 left, 1 left and it actually pertains to our banking subsidiary, Access Bank. Section 19, it's BOC. C, of BOFA says this, please listen, a Nigerian bank should limit its investments in foreign subsidiaries to 10% of its shareholders' funds. It did not say an Adrian Bank should not open for subsidiaries. We have not been told not to open foreign subsidiaries. You did not see that if you are in excess of that limit, sell for subsidiaries, we have not been instructed to sell foreign subsidiaries. The Central Bank is coming to compliance with these requirements and to ensure that you take this stipulation very seriously on compliance, you cannot pay dividends. That's the bank. Take note that the profits of our other subsidiaries as a holding company are sufficient for us to pay dividends without the bank. But Central Bank informed us that as they see Access Holdings, they see Access Bank. And therefore, if Access Bank is unable to pay a dividend, they will extend that restriction to the holding company. We're -- with that clarity given to us, all we are doing now is to taking those steps to come into compliance. We believe that there are several regulatory precedents, legal precedents across the world that provide us pathways to come into compliance this year. We are taking all those steps -- we will work closely with regulators in Nigeria and each other of the jurisdiction that will be affected by these steps. And once we have done that, we will be able to share the profits that together we have worked hard to create. What you should pray for us is that when we submit our presentations to our regulators along the pathway that I have described that they will promptly unfavorably say yes. Say Amen, please. Thank you. I think that -- we have several royal majesties in the house. Perhaps it is the dividends that they have been receiving from access, which they have been using to do good works in their communities that have caused there are people to crown them and congratulations to you all. I want to address the issue that was raised around a company not having visibly challenged employees. Please note that, that disclosure pertains to the company that you hold shares in, which is Access Holdings, not the bank or group of companies. Access Holdings has under 60 staff. And so it is not strange that amongst them is not a visibly challenged staff. If you take the totality of the group, the count of visibly challenged staff of our Access Holdings alone, if you get my point. So don't feel that the diversity for which you have -- many of you have positively commented on and applauded your company is not extended to the issue of physical challenge. It is. On the issue of asset quality, I would like you to note that one of the standouts of the performance of last year was the fact that our cost of risk, that is the percentage of loan, provisions and asset quality expenses to either our revenues or our profits is one of the lowest amongst Nigerian banks. The quality of our loan books are very strong. And you don't look at the quality of the loan book just in absolute. When you look at the quality of the loan book in the context of the totality of our asset base is even stronger. So I can assure you that 1 of the things that we are known for, which is why we carry the highest risk ratings of a Nigerian based bank is the quality of our assets. That won't I will stand along with this board and our management teams for all our banks and ensure that there is no misunderstanding there. But nonetheless, we will remain vigilant because we know that the maturity level in Africa of the borrower sometimes can be very disappointing. And this is why you find these instances where Nigerian banks have rallied to support local players with significant sums of money, and we then find difficulty in collecting back these loans from time to time and need to be sometimes quite aggressive in terms of the steps we take to protect depositors funds. I believe that we have your support to do the things that we must do to ensure that those who borrow from us pay back. Do we have your support? Thank you. Somebody asked the question, what indicators should shareholders look for as we move from scale to value? Well, obviously, the first indicator is return on equity. And we want to ensure that the return on equity far exceeds the cost of capital that our shareholders who have put their investments into our business have. The second thing you look at for us and somebody mentioned it is the earnings per share. How much are you earning per share that you have issued. And it is interesting that one of our shareholders actually looked at that and established that our earnings per share is one of the highest in the Nigerian banking industry. That thing we look at is our cost to income ratio. Some shareholders commented on the issue of expenses. Our cost-to-income ratio is still in the low 50s. We are fighting over the next 3 years, we want to get it well under 50%, but you will note that between 2024 and 2025, we were able to keep our expense growth far less than the rate of inflation. Given our size given the vastness of our operators that we had just single-digit growth in expenses, I think, is a sign that our scale to value is beginning to take effect. Of course, cost of risk, which we have spoken of and the final thing is capital adequacy. It is very important for financial institutions that their business models are sustainable. So even though our returns may be high, efficient may be good. It must also be done in a way that ensures that we retain capital buffers to ensure that if there is a shock or a price in the system, we don't have to come to you on an emergency and say, we need your capital, we fall short of the requirements required to operate a bank. I think that I will close on this note. Personally, I understand why dividends in any market are deemed to be attractive from a shareholder standpoint, not to speak of and African markets where sources of revenue can sometimes be very much timed by the process of inflation, the difficulties of the environment and so on. I also note that a number of our shareholders are retirees and pensioners who do not earn income in any regular form anymore. And therefore, that's annual dividend or even interim dividend has become very important. Remember that even me too, I am a retiree, and very much like you, and my largest investments are in Access Holdings. And so like you, I feel the pain of nonreceipt of dividend. But let me tell you something. The market reaction to the dividend issue whilst understandable has created an opportunity for our shareholders. Many stock in Nigeria have rerated because the capital market has adjusted to the, would I say, 400% depreciation in currency that took place 4 years ago or thereabouts. The only high-quality stock, well, let me not say the only, 1 of the remaining high-quality stock that has not benefited from this re-rating, which took place really over the last 9 months is Access Holdings and only because or largely because of the disappointments that shareholders feel with respect to the dividend. Well, let us take that to be what it is. The message I want to leave you with is that yes, getting it okay. So -- we address the issue of compliance that the Central Bank has requested of us. The profits to pay the dividends are in the books of Access Holdings. We don't even have to make the money. The profit is there already in the books of Access Holdings. So once we address that issue, we will resume our dividend payments. And this is only or remaining high-quality stock yet to re-rate. So rerating is what's imminent. And you know the degree by which stocks have been rated. I don't want to come and speak to press at an AGM, but you have noticed, have you? That I have kept buying Access because I want to enjoy derating. I think this is the most attractive stock from a price and quality standpoint in Nigeria today, a word is enough for the wise. Thank you.

I will now hand over to Innocent and if necessary Bolaji to provide further responses to your questions.

Thank you, Chairman. Thank you, Director. Thank you, steam shareholders. My name is Innocent Ike, Group Managing Director. Okay. Thank you, Chairman, for the responses to are provided -- and I believe they have to address the most pertinent issue and the series of the nondividend payment -- so I will take the other questions and where I need to support our call of my colleague on banks. Thank you. Okay. So thank you, guar your comments, we appreciate this comment. Indeed, the comments, we have found the fact that the company remains a very strong institution. The fundamentals are right. The company is a -- corporate strategy very well and there's every reason for every shareholder to be happy in their just because -- I mean a part for this dividend is not -- there is nothing worse that's shareholders should worry about, except that has not been paid. The company remains very strong, remains very profit making the balance sheet is getting stronger and stronger. So thank you and your comments on the award. Indeed, we accompany we always stand for excellence. as we expand and as we pursue our expansion strategy across Africa and the key financial centers in the world, we'll continue to make sure that we do that excellently in such a way will bring on reputation and satisfaction to our shareholders. Our name and brand remains very important to us, and we continue to make sure that in whatever geography or location where we find ourselves we will make sure that we execute excellently in such a way with that. Our journey to building a global brand remains something that spiral first and 1 that we are committed to always. On the question on cash sales. Let me say clearly, the cash sales, it is possible, like you said, which primary motivation is because someone was in need equipment with his needs and he then decided to work. This is what I have to do. I have to sell. But it touches that that's clearly lost contrary to what we stand for as a company and what our team stands for. We will as much as possible, make sure that our churning and the control systems around our operations are continuously being tightened so that we can reduce test arising from cash and any type of test, be it cybersecurity related with our control systems and the governance around that have been strengthened on a continuous basis. We realize that the to risk and for this dynamic -- and we will continue to make sure that we strengthen the processes and the governance around that. The board as a matter of fact, prioritizes that and the boroversight function has continuously made sure that this is the major area of focus for us, and we will continue to do that just to make sure that the concerns of the shareholders just like Mr. Wasi said would address that. Also the concern on contravention, our risk and governance posture is very, very high. The Board has actually stepped up its oversight function in making sure that the processes instituted in making sure that we are proactively compliant with regulatory requirements the rules of the land and every well is compliance requirements, make sure that there are no contentions. That is actually the focus of the Board and I can show all of our management to continue to work towards that to make sure that we remain very proactive- we put in place processes to ensure that when the new regulation is in place, we would identify the impact of that regulation on our business, how to ensure compliance upfronts and then puts in place the processes and mechanisms that we ensure that would comply itas bringing antipoli or sanctions from regulators. On the absorption or the both water and do not that was sub or the need I must apologize previously for that, in as much as I mentioned and that it was actually meant to be taking at that entry point when you been checking and cleared. It wasn't made to brought into all because there are still some for refreshments. There was attracted to be taken. But that notwithstanding, I've had -- I mean, we've had your suggestion on your proposal, I would make sure that we are by by that. Even if it's a at point, we'll make sure it's neatly packed and delivered to our shareholders. shareholders is not the best, and that's why we must always aspire to do. Mr. [indiscernible] you for your comments again. Just similar to what Mr. Samal said. We appreciate those comments and inspire us, and we will always do what will make you proud as our shareholders and continue to be happy that we've invested in Access. You have -- you spoke about what we have been to reduce risk exposures particularly as it affects subsidiaries. The chairman had spoken earlier on about our risk portuin terms of today in terms of cost of risk, we remain very high when it runs amongst other operators in Asia and in Africa and actually in the world. But then we want to assure you that in as much as we have moved from the phase in our journey where we're acquiring and integrating new subsidiaries to the phase we are caring to optimize and less value out of those entities and out of the operations we have outside the country. We are very deliberate in making sure that the integration acquisition of a subsidiary does not, in any way, okay, led to a deterioration of our risk letting or our books we bring to every subsidiary, every geography and every location, the same level of diligence, the same level of thoroughness in managing risk, be it credit related risk or order is. I mean, the Chairman has asked us that's what's -- I mean that we should -- how do we -- I mean, we must make sure that we're cut money from those who bought from us. And we've got a very sound positive response. So -- I mean that gives resolution in our mind. So whether in Nigeria or outside the age or in any of our locations we make sure that from the point of even bringing a newly acquired entity on board, they would do extended due diligence to ensure that we understand the quality of the books, the risk assets or an associated risk and upfront put in place measures to so let we are possible or reduce the impact of those risks on our books and our operations. So I want to assure you that it remains a very important consideration for us given our expansion or the acquisitions we've done in the past -- and as we moved -- I mean, as we focus to be on value creation, okay, we will continue to make sure that, that means primarily to us. You also asked a question about what's being done to avoid contravention. I've already spoken to that. And then you asked why can't we set litigations out of cost -- the truth is that we realize that litigation is not of court. It's not our area of competence, our core area of focus for us. So in situation we find ourselves in and good or having to go to cut any customer borrower or any path at all. Our default option is to explore peaceful resolution out of cost. We know that are going to cause litigation takes some time. It costs money -- and we've also been in financial services delivered worsens at called cost of carrying cost of money. And so each time we have an opportunity -- and we will always try to resolve upfront out of court. It's only when a out of court settlement becomes impossible or the other parties or interested that we will then embark on litigation. And in every case we have in court -- our legal team, both internal and external, we have a tumor of very strong solutions who also advise those on matters. So I would take a throttle sure we take what is the fastest and the fastest and less or least expensive resolution pathway to dealing with every litigation we have. Okay. Let me -- on that note, again, reassure our shareholders that you have a board and management that is very strongly committed to deliver on the aspirations of shareholders. We will always make sure, as the Board all put in place the policies, frameworks that support our strategy of delivering that's -- I mean, building that institution that you always be very happy about institution that you're always happy that you took a decision to invest in and support our joins. Our joining from scale to value is not by accident. It's the natural evolution of our strategy of growing during first and then focused on how to harness the opportunities and the benefits of scale. And I want to assure you that, that phase in our corporate gene, which were already embark on, we will make sure that we continue to focus on building an institution that will deliver sustainable value to our shareholders. We had case about what you need to look at improvements in cost-to-income ratio, improvements returns, improvement in earnings per share. I think these are the things without doubt that management and the Board are committed to -- and that note, I want to thank you for your support and for showing up here today. God bless you.

Thank you very much, Innocent. I thought you would Well, anyway, I clarify that. I don't know who was speaking was it Murta, Mukta and he spoke about NDIC, you spoke about 50,000 or something like that. No. The only -- what I can tell you on to please, I think it's important. There is -- you have invested in 2 things, our shareholders. You've invested in Access Holdings that is representing 1 of Africa's largest banking groups. So you've invested in the banking business that is Access Holdings. You've also invested in the Nigerian banking sector. And it's very important for us to note this because there's 1 thing about banking. A bank is only as good and as strong as the weakest bank in the environment within which it operates. When you go back to the 2008 banking crisis, it just started with Qs outside one bank. And when people saw the cues outside one bank, not a big bank, they went to their own bank. And then us not forming as a big banks, big banks until the biggest banks were now threatened. So 1 of the things that is very important is something called systemic stability. The banking system must be stable. And for the largest players in the banking system, we actually the greater stakeholders and beneficiaries of that stability. So when you have the NDIC, you have vehicles like Amcon, we are the last to shy from our responsibilities where those 2 institutions are concerned. But what is very interesting is that I read about the payment of what they call NDIC, it's called claims. And what I see in the newspapers is that the NDIC can, in certain instances, cover all the claims concerned with field institutions. I'm not saying 50,000. It's not limited to 5,000. All , and that means that the amount of confidence that the NDIC is bringing to the system when it restores all depositors at least certainly the retail depositors to roll irrespective of your amounts, that is very commendable. And if we can maintain that, I think it's in our interest. But let me stop there. Let us go into the ordinary business of the day. We have come to the first resolution. I hereby move that the company's audited financial statements for the year ended December 31, 2025. And the reports of the directors, auditors and audit committee thereon be and are hereby approved. With someone second this motion. The gentleman in red cap.

Chairman. My name is Patrick -- at arise to second the motion of a distinguished Chairman of bark.

Thank you very much. Thank you. I now call on the registrars to conduct the voting process.

Thank you, Mr. Chairman. So how the resolution on the screen Extreme shareholders vote in Russia last 60 seconds. The timer is on, please cast your vote according to your decisions on your voting devices, 1 represents, yes, 2 represent and 3 -- please cast your vote according to your decisions. Thank you. We have 40 seconds to the end of the voting period. voted session discussed your vote according to your decisions. Thank you. We have 20 seconds to the end of the voting period. Voting is telling session, cast votes according to your decision, 1 on your voting part represents, yes, to represent no and 3 represent upstream. The voting period has ended, and we have 538 shareholders who voted in favor of this resolution. 14 shareholders voted against the resolution and 6 shareholders abstained from the resolution. Thank you.

The resolution is carried. The next item on the agenda is the election or reelection of directors. Since the last AGM, the Board posted to the powers vested on it by the articles are appointed Ms. Inese CEC as Group Managing Director, Chief Executive Officer and Ms. Binate as an independent Nonexecutive Director. The appointments have been approved by the CBN. As required by the articles both Mr. Innocent Ike and Mrs. Ibrance will be presented for election at this meeting. as it is the first meeting appointment. The company's adcos of association also require 1/3 of all NEDs to stand for reelection every year. in line with the tenure on the Board. The following directors are accordingly retiring by rotation and offering themselves for reelection. Mr. Shaun Ogone and Mrs. Ojini Olaghere, both nonexecutive directors. Their biographies are contained on Pages 88 to 90 of the annual report and accounts. If the shareholders unanimously agree all the resolutions relating to the election and reelection of directors may be approved by a single vote, I shall, therefore, move the necessary motion that will require unanimous approval. How 1 aside be just a single vote against the motion, then the single resolution will be lost and each ordinary resolution we voted on our past separately. I hereby move that in accordance with Section 287 of the directors now offering themselves for election and reelection be elected or reelected by a single resolution. Okay. Let's take the other man with red cap. And after there are no more redcap. We go to races. -- on.

Thank you, Mr. Chairman, for giving me this powerful and important opportunity. My name is Juno Godfrey, Ochi, I second that part of motion.

Thank you. Call on the registrars to conduct the voting process.

Thank you, Mr. Chairman. So we have the resolution on the screen. The time is on, please cast to vote according to your decision on your voting devices, 1 represents, yes, 2 represents now and 3 represent abstain. Thank you. Voting install in progress. We have photeseconds to the end of the voting period. You may cast to vote according to your decisions on the voting devices. 1 represents, yes, 2 represent no and 3 represent abstain. Thank you. We have 20 seconds to the end of the voting period. Voting is still in progress, it make us to vote according to your decisions. The voting period has ended, and we have 562 shareholders, 582 shareholders who voted in favor of this resolution. And we have 15 shareholders who voted against the resolution and 11 shareholders were abstained. Thank you.

Since it is the wish of this meeting to elect and reelect directors by separate solutions, which all proceed accordingly. The first director concern is Ms. Innocent None I hereby move that Mr. Innocent KB and is hereby elected as the Group Managing Director, Chief Executive Officer of the company. With some going to be motor car, white car, we move from red cap to white. -- come accord me welcome.

Thank you bataiman,Iplease -- was I saw a second federal consequently.

I now call on the registers to conduct the voting process.

Thank you, Mr. Chairman. We have the votes on the screen on the time is on. You may cast your vote according to your decisions 1 on your voting device representing yes, to represent new and 3 represents abstain. -- tensing progress. We have 40 seconds to the end of the voting period. You may cast your vote according to your decisions. Thank you. On your voting devices, 1 represents, yes, 2 represents no and 3 represent upstream -- we have 20 seconds to the end of the voting period. Voting is still in progress. Please cast your votes according to your decisions. Thank you. The voting period has ended, and we have 688 shareholders was in favor of this resolution, 10 shareholders voted against it and 12 shareholders abstained from the resolution. Thank you, Mr. Chairman.

Thank you very much. The vote is carried. I hereby move that Ms. Ebone AM, Independent Nonexecutive Director be and is hereby elected as a Non-Executive Director of your company. She is here. Please stand up for recognition. Thank you. Yes. Well, from this side, let you -- if you give microphone must only find the end of lady.

Thank you, Mr. Chairman, I'd like to second the motion. My name is Mrs. EOB.

I now call on the registrars to conduct the voting process.

Thank you, Mr. Chairman. We have the resolution on the screen. The timer is on, voting is in progress. You may cast your vote according to your decisions. On your voting devices, 1 represents, yes, 2 represents now and 3 represent abstain. Thank you. Voting in still in progress. Please cast your vote according to your decisions. We have -- on your voting devices, 1 represents, yes, -- 2 represents no and 3 represents abstain. Thank you. The voting period has ended, and we have 566 shareholders who voted in favor of this resolution. 14 shareholders voted against the resolution and 9 shareholders abstained from the resolution. Thank you, Mr. Chairman.

Thank you. The resolution is carried. I hereby move that Mr. LushaguBuneo is hereby reelected as a nonexecutive Director. We have.

Thank you, Mr. Samal. My name is Korea today, let assumes to move the margin. Thank you.

Thank you. So we have gone from a red cup to white up to green cap the registry over to you.

Thank you, Mr. Chairman. We have the resolution on the screen and the time line is on. You may cast your votes according to your decisions. 1 on your voting device represents yes, 2 represent now and 3 represent abstain. Please cast your vote according to your decisions. Thank you -- we have 40 seconds to end of the voting period. What is still in progress. You may cast your vote according to your decisions. Voting is still in progress. We have 20 seconds to the end of the world according to your decisions on your voting devices. One represents, yes, -- so represents now and we represent abstain. The voting period has ended, and we have 568 shareholders who voted in Pivot's resolution, 9 shareholders voted against the resolution and 17 shareholders abstained from the resolution. Thank you, Mr. Chairman.

Thank you very much. And then finally, what I now means the list having carried that vote, the resolution is carried. I hereby move that Mr. Zojila are, an is hereby elected as in reelected as a non-executive director. Let's give to in the back? [This call length has exceeded streaming capabilities - Please refer to the preliminary transcript that will be posted shortly.]