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1. Head Office:
BAICO
Plaza,
12, Abibu Oki
Street, P. O. Box 2654, Lagos.
Tel: 234-01-2641200 - 9;
Telex: 22537 BAICO NG
Fax: 234-01-2641193
2. Nature of Business:
All Classes of Life and Non -Life Insurance Business.
3. Date of Incorporation:
11th June, 1970
4. Date Listed on The Exchange:
8th December, 1989
5. NSE Classification:
Insurance
6. Board of Directors:
Dr. Hasan Lawal - (Chairman)
Mr. A. O. Okpor (MD/CEO)
Otunba A. O. Olafisoye
Chief Olu Adegbite
Mr. Adrian Baulf
Mr. J. F. Adeleke
Ms. N. A. Chibututu
7. Company Secretary:
Melvine Nominees Nigeria Limited
312, Murtala
Mohammed Way,
Yaba, Lagos.
P. O. Box
1223,
Ebute-Metta, Lagos.
8. Auditors:
Segun Oyegbola & Co.,
(Chartered Accoutants)
10th Floor, Unity House
37, Marina, Lagos.
P. O. Box
6993, Surulere, Lagos.
Tel: 234-01-2664201, 7929487, 2958584
E-mail: info@segunoyegbola.com
Website: segunoyegbola.com
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9. Company Registrars:
City Securities (Registrars) Limited,
Primrose
Towers, (5th Floor)
17a, Tinubu
Street, Lagos.
10. Subsidiaries/Associates:
BAICO Properties Limited
BAICO Building Societies Limited
11. End of Accounting Year
31st December
12. Number of Employees
104
13. Capital Structure
i. Authorised:
N500,000,000.00
ii. Paid-Up
N123,750,000.00
14. Analysis of Shareholding
Individuals 52%
Institutions 32%
British-American
Nassau Bahamas
(Oversea) Non Resident 16%
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FIVE-YEAR FINANCIAL SUMMARY
ASSETS
EMPLOYED 2003 2002 2001 2000 1999
N‘000 N‘000 N‘000 N‘000 N‘000
Fixed Assets 360,508 361,325 369,820 289,641 297,906
Investments 32,566 14,391 22,672 39,963 38,104
Statutory deposit 20,000 20,000 20,000 20,000 5,000
Net current
liabilities 9183,993) (129,344) (221,663) (146,978) (77,494)
——— ——— ——— ——— ———
Creditors:
amounts falling due
after one year (25,981) (25,981) (26,842) (12,000) (16,000)
——— ——— ——— ——— ———
203,100 240,391 163,987 190,626 247,516
===== ===== ===== ===== =====
CAPITAL AND RESERVES:
Called-up
Share Capital 123,750 123,750 27,500 27,500 27,500
(Deficits)/reserves (273,479) (232,338) (205,687) (56,435) 53,057
Insurance funds 352,829 348,979 342,374 219,561 166,959
——— ——— ——— ——— ———
203,100 240,391 163,987 190,626 247,516
===== ===== ===== ===== =====
PROFIT AND LOSS ACCOUINT:
Loss before tax (40,541) (27,478) (75,929) (27,478) (75,929)
Taxation (600) (721) (682) (1,250) (1,327)
Loss after tax (41,141) (28,199) (76,611) (28,728) (77,256)
===== ===== ===== ===== =====
Earnings per share (16) (11) (139) (52) (140)
NOTE:
Earnings per share is based
on 247,500,000 ordinary shares in issue.
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