CSR Expenditure in the Year under Review

Our summary CSR expenditure in the year under review is outlined as follows:

Education: The Bank's investment in professorial endowment fund and other educational interventions were worth N633.8 million.

Health and welfare: The health and welfare of the citizenry, dwelling basically on the user-needs identification system was worth N35.59 million.

Sports: Our primary focus on sports was the under-17 FIFA sports sponsorship which the Bank sponsored. The sponsorship was leveraged with various marketing and communication activities to the tune of N324.3 million. Other sports activities sponsored by the Bank sum up to N39.1, bringing the Bank's support to N363.4 million.

Entrepreneurship and economic development: Entrepreneurial and economic development, which is a major focus of the Bank's CSR, was worth N446 million.

Environmental and social issues: This focus area integrates arts and culture, community development and environmental sustainability. The Bank's commitments were worth N145.05 million.

Consequently, the Bank's CSR expenditure for the 2009 financial year was worth N1.62 billion.