UACN PROPERTY DEVELOPMENT COMPANY PLC

Private & Confidential

Investor Presentation
Introduction
The
Nigerian
Real
Estate
Sector
The UPDC
Real Estate
Investment
Trust
Financial
Forecasts
Why
Invest in
a REIT by
UPDC?
Contacts
Introduction
UACN Property Development Company (UPDC or the
Company) is the leading property developer in the
Nigerian real estate industry.
The Companys property portfolio is currently valued at
over N43 billion.
UPDC is currently focused on the premium segment of
real estate markets in selected cities.
In line with its growth aspirations, the Company is
promoting a N30 billion Real Estate Investment Trust
(REIT)
Principal business activities are to acquire, develop and
provide high quality, serviced commercial and residential
accommodation for its customers in carefully selected high yielding
urban areas including Lagos, Abuja and Port Harcourt.
The Fund Manager
FSDH Asset Management Limited
(FAML)is one of the leading Fund
Managers in Nigeria and is a wholly-
owned subsidiary of First Securities
Discount House Limited, a leading
financial institution which commenced
business in 1993
FAML is registered with the Securities &
Exchange Commission as a Fund/Portfolio
Manager, Corporate Investment Adviser
and is Fund Manager to the Coral Income
Fund and the Coral Growth Fund which
have been in operation since 2006 and
2001 respectively
FAML also actively manages and
administers segregated portfolios such as
gratuity schemes, provident schemes,
endowment funds and other special
purpose funds of large corporates, the
Companys assets under management are
in excess of N11 billion
FAML has a team of professionals, who
have the relevant technical know-how
and the capability to ensure that the REIT
is managed efficiently and effectively to
provide consistent returns over time
FSDH Asset
Management Limited
(FAML)
Sponsor: UACN Property Development Company Plc
Fund Manager: FSDH Asset Management Limited
Lead Issuing House: Stanbic IBTC Bank PLC
Co-Issuing House: BGL Plc
Joint Trustees to the REIT: First Trustees Nigeria Limited and UBA Trustees Limited
Custodian UBA Plc (Global Investor Services Division)
Asset Valuers Jide Taiwo & Co and Joe Akhigbe & Associates
Reporting Accountants Ernst & Young
The Offer: 3,000,000,000 Units of N10.00 each at par in the UPDC REIT
Mode of Offer: Offer for Subscription
Nature of the REIT: The REIT aims to achieve long-term capital growth of its assets by investing at least 75% of its assets directly in
quality real estate (land and/or properties) in strategic locations across Nigeria, which the Fund Manager has
identified as offering excellent growth/appreciation potential
A maximum of 25% of the REITs assets may be invested in real estate related assets with no more than 10% in
liquid assets including investments in fixed income securities
The REIT is close-ended and its Units will be listed on the floor of The Nigerian Stock Exchange (The NSE or The
Exchange). Once this Offer is concluded, Units of the REIT can only be bought or sold through a licensed
Stockbroker on the floor of The Exchange. Consequently, the price will be market driven and not based on the Net
Asset Value of the REIT
However the REIT may undertake secondary offerings as the need arises
Transaction Summary
Investment Committee: The investment process will be overseen by an Investment Committee made up of a team of portfolio
managers and financial consultants who collectively have over 100 years experience in real estate
investments and finance in Nigeria
The committee comprises 9 individuals in the following categories:
2 members fromFSDH Asset Management Limited
1 member fromFirst Trustees Nigeria Limited
1 member fromUBA Trustees Limited
2 members fromUPDC and
3 independent members
Units of Sale: Minimumof 10,000 Units and multiples of 1,000 Units thereafter
Offer price: N10.00 per Unit
Foreign currency subscriptions will be processed at the applicable foreign exchange rate at the time of
subscription
Offer size: N30,000,000,000
Payment Terms: In full on application
Underwriting: At the instance of the Sponsor, the Offer is not underwritten
Opening Date: Q1 2013
Transaction Summary
2
The Nigerian Real Estate
Sector
The Real Estate Industry
Industry Segmentation
Residential
Residential real estate in Nigeria has in
recent times experienced a significant
level of growth largely driven by rising
disposable incomes rapidly growing
middleclass and increased
urbanisation
Despite the recent banking sector
reforms, high end residential real
estate assets still enjoy a great deal of
patronage
Commercial
Nigeria has received a large number of
international franchises in the last year.
Commercial activities in the major
cosmopolitan cities in Nigeria have
increased significantly due to an influx
of international operating companies
seeking grade A office
accommodation.
The Real Estate Industry
Industry Segmentation
Retail
Retail is an emerging segment of the
Nigerian real estate industry, which is
expected to experience double digit
growth rates which has led to reduced
bank lending over the next decade
with recent developments in key
metropolitan cities of Nigeria.
The influx of international retailers,
increasing disposable income and
increasing population is expected to
drive growth in this segment
Hospitality
The hospitality market recently
witnessed an addition of over 700 keys
in Lagos alone
International operators continue to
express a strong desire to impress and
expand their footprint in the Nigerian
market and as significant demand and
supply imbalance exists for quality
hotel accommodation.
Real Estate
Industry
Challenges
Land
Policies
Access
to
Capital
Land
Titling
The Real Estate Industry- Challenges
Section 1 of the Land Use Act proclaims that all land is
vested in government to be held in trust and administered
for the use and common benefit of all Nigerians
In this regard, several Federal and State parastatals were
charged with the responsibility of developing mass urban
housing, with a view to assessing the will and capacity to
bridge the demand and supply imbalance
Whilst housing continues to be a key focal responsibility of
Government, this has led to a very slow pace of development
across the entire country and leaves much of the housing
demand unmet
Land
Policies
There is uncertainty of title due to the complex land tenure
system in Nigeria
This situation is compounded by the Land Use Act which
provides for governors consent, land transfers and mortgages
However, the process and procedure for obtaining governors
consent is expensive thereby exacerbating land costs
Land Titling
The Real Estate Industry- Challenges
The drastic banking reforms of 2009/2010 made it difficult
for real estate development companies to access capital
from banks to finance new developments
Loans/credit extended to players in the real estate industry
were issued at extremely high rates of interest. This has
stifled growth in the sector and also had a negative effect
on mortgage financing
Access to
Capital
The Real Estate Industry- Challenges
(Contd)
Economic Growth
A strong driver of the
development and demand of the
real estate industry in the country
is the estimated growth of the
Nigerian economy which is
expected to be at a rate of about
7.4% over the next three years
It is also expected that this
growth will further boost the
influx of foreign direct
investments, stimulate economic
activity, boost consumer spending
and collectively increase the
demand for and supply of real
estate products
Financial Market
Reforms
The success of the on-
going banking reforms,
which will potentially
engender increased
lending activity in the
medium term, will be
beneficial to the real
estate industry
Land Titling
Increased efforts by State
governments to create an
efficient platform for
procuring land title and
reducing transfer costs on
property will further
stimulate the
development of real
estate
It will also encourage
existing holders of real
estate assets to transfer
their portfolio into REITs
as a viable means of
unlocking capital
The Real Estate Industry- Outlook
Pension Reforms
The 2010 revision of the
National Pension Act
should further increase
the amount of investible
capital that can be
deployed into this asset
class
Land Supply
It is envisaged that over
325 hectares of new
land is expected to be
available over the next
three to five years
thereby, increasing the
supply of new land lots
for development
The Real Estate Industry- Outlook
3
The UPDC Real Estate Investment
Trust (REIT)
The UPDC REIT
The REIT is established with the principal investment objective of investing and
owning in a diversified portfolio of income-producing real estate in Nigeria
characterised by high growth potential
The REIT is close-ended and its units will be listed on The NSE
3,000,000,000 Units of the REIT are currently being offered for subscription
The REIT is governed by a Trust Deed with First Trustees Nigeria Limited and UBA
Trustees Limited acting as Joint Trustees
The UPDC REIT
The Fund Manager seeks to grow rental yields, produce regular and stable distributions
to Unitholders and achieve long-term growth in the Net Asset Value per Unit of the REIT
through the following:
The initial portfolio of property to be acquired by the UPDC REIT following the
conclusion of the Offer has already been identified
Acquiring properties that meet the Fund Managers investment objectives;
Actively managing the REITs property portfolio; and
Developing and maintaining excellent tenant relationships through the provision
of proactive property-related services
The UPDC REIT Participation
UPDC intends to participate in the REIT by contributing a
portion of its existing real estate portfolio
In exchange for its real estate portfolio, UPDC will receive
a combination of cash proceeds and units in the REIT
UPDC intends to hold 40% of the REIT, while 60% will be
held by the investing public
UPDCs participation in the REIT will increase investor
confidence as it shows substantial alignment of the
Companys interest with the REIT
Schedule of Assets
UPDC is seeking to transfer a portfolio of commercial, residential and warehouse properties
situated in Lagos, Abuja and other parts of Nigeria into the proposed REIT
ABEBE COURT IKOYI, LAGOS
(RESIDENTIAL)
Net Lettable Area (Sq.m): 5,182
Open Market Value (Nm): 4,320
Luxury residential development
32 housing units (4 Blocks of 8 units)
16 units of 3-Bedroom Flats
16 units of 4-Bedroom Flats
VICTORIA MALL PLAZA 1, LAGOS
(RESIDENTIAL)
Net Lettable Area (Sq.m): 7,656
Open Market Value (Nm): 8,278
Mixed development
2 Blocks of residential buildings
An office block
Shopping mall
Commercial parking lots
Schedule of Assets
VICTORIA MALL PLAZA 2, LAGOS (COMMERCIAL)
Net Lettable Area (Sq.m): 7,454
Open Market Value (Nm): 7,426
Office Space
UAC COMMERCIAL COMPLEX ABUJA
(COMMERCIAL)
Net Lettable Area (Sq.m): 3,462
Open Market Value (Nm):1,300
4 level office complex
17 rental units
Schedule of Assets
1-2 FACTORY ROAD, ABA
(COMMERCIAL)
Net Lettable Area (Sq.m): 6,230
Open Market Value (Nm): 740
13 rental units
Offices, banks, restaurants and warehouses
Total Asset Value based on an independent property valuation carried out by Jide Taiwo &
Co and Joe Aigbe & Associates is approximately N21.915Billion
Investment Objectives & Asset Allocation
Stable Cash
Distribution
Diversified
Portfolio
High
Yielding
Properties
Diversified
Funding
Sources
The REITs investments will be made by the Fund
Manager with the consent of the Joint Trustees, in any or
all of the following asset classes and in accordance with
the maximum proportions specified above in line with the
Securities and Exchange Commissions (SEC)
requirement
The objective of the REIT is to ensure optimal returns for
the investors by ensuring that investments are only made
in high yielding property asset classes
INESTMENT OBJECTIVES ASSET ALLOCATION
Investment Highlights and Policy
Immediate investment income
Instant cash Payback (Refund of Advance Rent)
Experienced and professional Property Manager
Stable and regular distributions.
Exposure to a diversified property portfolio of income
generating assets
Opportunities for future capital growth through the
acquisition of additional properties that fit the REITs
investment criteria and active portfolio management
Potential for maximized distributions through a
performance based fee structure for the Fund Manager
Substantial alignment of Sponsors interests with those of
Unitholders as evidenced by intention to own up to 40% of
the REIT
Reduced acquisition costs of initial property portfolio as a
result of the Declaration of Trust structure
Low maintenance costs the main assets (i.e. VMP 1 and
2) are brand new properties and the warehouses are
traditionally low maintenance assets as well
Investment Highlights
The REIT will focus on investing in residential and
commercial properties
The Fund Manager will continue to ensure adequate
diversity in the REITs portfolio
The number, size and mix of investments made will depend
on market conditions and other circumstances existing at
the time of investment
Potential investments should have some or all of the
following attributes:
Prime Location
Premium Buildings
Quality Tenancy
The REIT may invest in land and/or properties under
development as prescribed by the SEC rules
The REIT may enter into joint ventures with third parties
including the Sponsor or its affiliates, co-ownership
arrangements or participation with real estate developers,
and parties for the purpose of owning and/or operating real
estate investments. In determining whether to invest in a
particular joint venture, the Fund Manager will evaluate the
real estate investments that such joint venture will own
under the same criteria for the selection of direct real estate
investments
Investment Policy
The Declaration of Trust (DOT) Structure
The DOT is a Tax efficient legal structure; it seeks to minimize the potential transfer costs and the tax impact related to
properties
UPDC transfers all beneficial ownership rights in the real estate properties to be accommodated in the REIT via a
Deed of Declaration of Trust while retaining in trust, the legal title on behalf of the Joint Trustees to the REIT
All of UPDCs beneficial interests and powers in the properties, including right to rental incomes and capital
appreciation will be legally assigned to the Joint Trustees
UPDC shall have absolutely no right/powers to independently sell, mortgage or transfer title of properties without
express authorisation from the Joint Trustees
The DOT is bankruptcy remote, thus the properties transferred to the REIT will be segregated from the general
assets of UPDC and cannot be used to offset debts owed by UPDC in the unlikely event that UPDC becomes
bankrupt
The DOT is irrevocable. Consideration would have been offered and accepted and the REIT will have clear legal
rights to claim title to the properties
The physical legal title documents of the real estate portfolio (subject matter of the DOT) shall be deposited with the
Custodian on behalf of the Joint Trustees. In addition, a notice stating the interest of the REIT shall be affixed on all
the properties
Underlying Features of the DOT Structure
Description of the DOT Structure
The Investment Committee
Name Work experience
Hakeem D. Ogunniran
(LLB, LLM, MBA)
Joined UAC in 1995 as Manager, Legal Services
Appointed Divisional Managing Director of MDS Logistics in April 2000
Appointed as Managing Director of UPDC in January 2010
Folasade Oluwatoyin Ogunde
(BSc., FCA)
Started with Deloitte Haskins & Sells (1985 to 1990)
Joined UAC in 1997; served as Management Accountant, UAC Foods Division
Divisional Commercial Director, Mr Biggs, and Group Treasurer, UAC
Appointed Finance Director in 2005
Olumayowa Ogunwemimo
(B.Sc., ACA)
Started her career in the Risk Management department (2001) and then Research in
FSDH
Moved to the asset management subsidiary, i.e. FSDH Asset Management Limited in
2004 and was appointed as the Managing Director
Robert Ajiamah
(B.Sc., M.Sc., MBA)
Over 18 years of varied banking experience, joined FSDH in 1999 and became the head
of the Abuja regional office in 2003
Head of risk management for the FSDH group since 2007, led the Public Sector and
Abuja regional Office of FSDH between 1999 and 2006
He is currently the Head, Risk Management
Oluwatoyin Sanni
(LLB)
She was an Assistant General Manager, with First Trustees Nigeria Limited and
Managing Director of Cornerstone Trustees Limited.
President of the Association of Corporate Trustees
Currently MD/CEO of UBA Trustees
The Investment Committee
Name Work experience
Adenekan Fasiu Olajide
(MBA, ICAN, CIT)
Head, Financial Reporting and Performance Management Unit of First
Trustees
He started his career with Morpol Industrial Corporation as an accountant
in 2002
Joined First trustees as an Assistant Manager, Operations department.
William Bobie
(B.Sc, M.A, P. Dip)
joined ISIS Asset Management Plc as portfolio manager in 2003
Joined AXA Real Estate Investment Managers as a portfolio manager in
2004
Currently the CEO of Uraga Real Estate Limited Nigeria
Also Executive Director at Assenta Real Estate Investment Managers in
Ghana
Kolapo Omidire
(LLB, LLM, MBA, ACII, ACIArb)
Joined Guaranty Trust bank Plc in 1996 as a Senior manager, GM and the
Company Secretary/legal Adviser
Appointed the acting MD, Guaranty Trust Assurance Plc in 2003
Appointed Managing Director, GTHomes Limited 2007-2009
Currently Managing Consultant, KB Professional Services
Nsikak Titus Ekure
(B.Sc, MBA, CISB, LL.B .)
Joined Co-operative Development Bank in 1994 as an AGM
Joined Grand Treasurers Limited as a Principal Consultant 1996.-1999
Joined First Trustees Nigeria Limited as the MD/CEO till 2007
Currently Executive Chairman. NEEANI Investment Limited
4
Financial Forecasts
2.357
2.552
2.988
3.293
4.459
0
1
2
3
4
5
2013 2014 2015 2016 2017
N

B
i
l
l
i
o
n
Financial Forecasts
2013 2014 2015 2016 2017
Nm Nm Nm Nm Nm
Total Income 3,987 3,518 4,086 4,472 5,787
Total Expenses (251) (256) (326) (354) (357)
Profit before tax 3,736 3,262 3,760 4,118 5,430
Profit after tax 2,618 2,835 3,321 3,659 4,955
Distribution
Dividend
2,357 2,552 2,988 3,293 4,459
Earnings per unit (N) 0.87 0.95 1.11 1.22 1.65
Dividend per unit (N) 0.79 0.85 1.00 1.10 1.49
Earnings yield 8.7% 9.3% 10.75% 11.7% 15.61%
Distribution yield 7.8% 8.4% 9.7% 10.5% 14.05%
Distribution Dividend
8.7%
9.3%
10.8%
11.7%
15.6%
7.8%
8.4%
9.7%
10.5%
14.1%
0%
3%
6%
9%
12%
15%
18%
2013 2014 2015 2016 2017
Earnings Yield Distribution Yield
Earnings Yield vs Distribution
Yield
0
50
100
150
200
250
300
350
400
0
1
2
3
4
5
6
7
2013 2014 2015 2016 2017
N

b
i
l
l
i
o
n
Total Income Profit before tax Profit after tax Total Expenses
Analysis of Net Income Growth
Earnings per unit vs. Dividends per unit (N)
0.00
0.50
1.00
1.50
2.00
2013 2014 2015 2016 2017
Earnings per unit Dividend per unit
N

M
i
l
l
i
o
n
Financial Forecasts
30
31
31
31
32
30
30
31
31
32
32
2013 2014 2015 2016 2017
N
'
B
i
l
l
i
o
n
Financial Forecasts
2013 2014 2015 2016 2017
N'm N'm N'm N'm N'm
Total non-current assets 28,155 27,117 27,391 28,139 28,604
Total current assets 3,579 3,907 3,486 3,104 3,137
Net current assets 2,107 3,428 3,486 3,104 3,137
NET ASSETS 30,262 30,545 30,877 31,343 31,741
CAPITAL AND RESERVES
REIT Capital 30,000 30,000 30,000 30,000 30,000
Retained earnings 262 545 877 1,243 1,741
Shareholders Funds 30,262 30,545 30,877 31,243 31,741
Net Assets
0
500
1000
1500
2000
29
30
30
31
31
32
32
2013 2014 2015 2016 2017
N

B
i
l
l
i
o
n
REIT Capital Shareholders Funds Retained Earnings
Capital and Reserves
5
Why Invest in a REIT by UPDC
Great Business Model
The Company has perfected the art of
acquiring developing managing and selling
high quality serviced commercial and
residential properties
Major emphasis is in the highly rewarding
luxury, premium and classic segments of the
real estate market in Nigeria
There has been a great deal of customer
focus via the creation of world class living and
working environments
UPDC has also adopted a focused approach
in Nigerias key economic hubs: Lagos, Abuja
and Port Harcourt
Competitive Strengths
The UPDC brand is very well known country
wide
Years of experience have turned the
Company into a real estate behemoth
Good financial relationships with Nigerias
main lenders
Established systems & processes
Strong corporate governance reminiscent of
global standards
Professional & Technical competence from
experience garnered over the years
Longstanding Reputation / Reliability
Successful track record in JV management &
delivery
UACN pedigree
Why Invest in a REIT by UPDC?
Successful Subsidiaries
UPDC Hotels Limited
Owner of Festac 77 Hotel
(Golden Tulip) with a total
share capital of N2.2 billion
Manor Gardens Property
Development Company Limited
Rewarding Joint
Ventures
Romay Gardens (with Romay
Sales Limited)
Anchorage Estate (with
Knighthood Properties Limited)
Salatu Royal Estate (with Salatu
International Limited)
Why Invest in a REIT by UPDC?
Why Invest in a REIT by UPDC?
UPDC remains the first and only listed real estate company on The Nigerian Stock
Exchange
Over 50 years experience developing real estate assets across the three major
economic hubs of the country and has over the years acquired significant land
holdings in several prime locations such as Ikoyi
Today, UPDC is the leading private developer in the Nigerian real estate industry
with an asset base of over N60 billion
Turnover of over N10 billion as at 31 December 2011
Very well positioned to reap the benefits of a largely under tapped market due to the
following facts:
Estimated Current untapped market of over N13 trillion housing
units, commercial properties and associated infrastructural facilities
High growth potential: Estimated population by 2050 is 289million
1
and 264
million
2
Highly experienced and motivated management with an extensive knowledge of the
real estate market and the Nigerian market
CLEAR MARKET LEADER
Source
1:Encarta 2: United States Census Bureau
Select Developments by UPDC
TRENCHARD
PLACE, IKOYI, LAGOS
Luxury residential development
36 housing units (2 Blocks of 18 units)
20 units of 3-Bedroom Flats
10 units of 4-Bedroom Flats
6 units of 4-Bedroom Penthouses
NIGER TOWERS, IKOYI, LAGOS
Luxury residential development
54 housing units (3 Blocks of 18 units)
24 units of 3-Bedroom Flats
24 units of 4-Bedroom Flats
6 units of 4-Bedroom Penthouses
Select Developments by UPDC
BOURDILLON
COURT, IKOYI, LAGOS
Luxury residential development
32 housing units
8 units of 3-Bedroom Flats
16 units of 4-Bedroom Flats
8 units of 4-Bedroom Terrace Houses
8 THOMPSON AVENUE
IKOYI, LAGOS
Luxury residential development
2 housing units
4 units of 3-Bedroom Flats
8 units of 4-Bedroom Flats
Select Developments by UPDC
ROMAY GARDENS. LEKKI, LAGOS
JV with Romay Gardens with Romay Sales
Limited
Residential estate with 82 housing units
26 units of 4-Bedroom Semi-detached
16 units of 4-Bedroom Town Houses (Type A)
28 units of 4-Bedroom Town Houses (Type B)
12 units of 3-Bedroom Flats
UPDC ESTATE, LEKKI, LAGOS
Residential estate with 81 housing units:
8 units of 4-Bedroom Detached Bungalows
32 units of 3-Bedroom Detached Bungalows
20 units of 3 & 4-Bedroom Semi-detached
Houses
21 units of 5-Bedroom Detached Houses
26 units of 4-Bedroom Semi-detached
Houses, etc
Select Developments by UPDC
SALATU ROYAL ESTATE , WUSE II
ABUJA
JV with Salatu Int. Ltd
Residential estate with 68 housing units:
10 units of 4-Bedroom Semi-detached
26 units of 3-Bedroom Terrace Houses
32 units of 3-Bedroom Flats
HILLVIEW ESTATE , GADUWA, ABUJA
Residential estate with 65 housing units:
8units of 5-Bedroom Detached House
12units of 4-Bedroom Semi-detached
30units of 4-Bedroom Flats
2units of 3-Bedroom Flats
6
Ongoing Projects
Cameron Green, Ikoyi.
Vintage
Garden
s
NAFF Estate,
Port-Harcourt
Vintage Gardens NAAF Estate, PH.
Napeir Gardens Lekki
Land Size is 1.7Hectars.
Development Vehicle = Joint Venture
Total Units for UPDCPLC = 100
4 bedroom detached bungalow = 50 units
4 Bedroom detached duplex = 50 units
Project Status: 100% Complete.
Napier Gardens Lekki
Grandvill
e Ikeja GRA
Luxury 5 Bedroom
Town Houses.
Grandville Ikeja
Metro City Project Status
The
Pinnacle
Maitama, Abuja
The Pinnacle is a 27
units, luxuriously finished
apartments, consisting of 1
bedroom studio, 3 bedroom
flats and 4 bedroom
maisonettes.
Aerial View
Typical Front View
Play Area
Pool Area
Festival Mall Festac
Located adjacent Golden Tulip Hotel.
Land Size is 3.27Hectars.
Proposed GBA is 12,180 sqm.
Proposed GLA is 9,480 sqm
Space Utilization:
Anchor = 3,800 sqm
Cinema = 1,100 Sqm
Restaurants, Pubs & line Shops = 4,586 Sqm
Overal efficiency = 78%
Festival Mall Festac
7
Contacts
Contacts
Sponsor Fund Manager Issuing Houses
UPDC Plc FSDH Asset
Management Limited
Stanbic IBTC Bank PLC BGL Plc
Hakeem Ogunniran
Managing Director
+234-1-7408574
+234 803 402 1256
hogunniran@updcplc.com
Olumayowa Ogunwemimo
Managing Director
+234-1-2702888
+234 802 321 7850
mogunwemimo@fsdhgroup.co
m
Oyinda Akinyemi
Head, Equity Capital Markets
+234-1-4228121
+234 803 301 1896
oyinda.akinyemi@stanbicibtc.com
Sesan Adetiloye
Head, Structured Finance
+234 1 462 2601-9
+234 708 207 3395
sesan.adetiloye@bglgroupng.com
Folasade Ogunde
Finance Director
+234-1-7408574
+234 807 472 8953
fogunde@updcplc.com
Adaobi Ekweanya
Head, Business Development
+234-1-2704885
+234 803 359 7178
aekweanya@fsdhgroup.com
Folajuwon Bisiriyu
Equity Capital Markets
+234 1 4228134
+234 706 418 6633
folajuwon.bisiriyu@stanbicibtc.com
Rotimi Oduntan
Structured Finance
+234 1 462 2601-9
+234 806 936 6540
rotimi.oduntan@bglgroupng.com
4th Floor
UAC House
1-5 Odunlami Street
Lagos Island
Lagos
5th Floor
UAC House
1-5 Odunlami Street
Lagos Island
Lagos
I.B.T.C. Place
Walter Carrington Crescent
Victoria Island
Lagos
Millennium House
12A Catholic Mission Street
Lagos Island
Lagos