INTRODUCTION

Zenith Pensions Custodian Limited (ZPC) is a subsidiary of Zenith Bank PLC and was established as a single purpose vehicle to carry on the business of pension custody in line with the Pension Reform Act 2004.

ZPC is run as a separate legal entity in line with Global best practice and aims to be the pre-eminent pension custody firm in Nigeria.

Our Mission:

‘‘To create a brand of first choice in Pension Custody through the provision of world class service by investing in the best people and technology.’’

PHYSICAL INFRASTRUCTURE AND LOCATION

The Head Office of Zenith Pensions Custodian Limited is located on 2nd Floor of Plot 87, Ajose Adeogun Street, Victoria Island, Lagos. It has provision for a standard vault of international standards that is fully secured. Also, it has provision for a server room and well laid out office space to accommodate up to thirty-five staff and each desk has a PC attached to it.

INFORMATION & COMMUNICATION TECHNOLOGY INFRASTRUCTURE

The system we have adopted, Temenos T24 Custodian Software from TEMENOS of Switzerland, has adequate facilities to handle pension fund and is being used by some of the leading custodian banks like Schroders & Co., Credit Suisse, Allied Irish Bank, American Express and Deutsche Bank among others.

The software has the capacity to handle Settlement, Safekeeping, Corporate Actions, Reporting, Risk Assessment and Performance Measurement and can also handle large volumes of data. It has the capacity for daily reconciliation and reporting and our server has capacity to keep information for as long as is required and can handle the individual retirement accounts of over 150 Million people.

TECHNICAL PARTNER

Zenith Pensions Custodian Limited has entered into technical service agreement with Computershare Limited, a reputable Custodian in South Africa. They will assist us in capacity building. The agreement is for two years and can be renewed for further periods of one year until we have acquired all the relevant skills in custody operations.

Computershare is an Australian owned company with home office in Melbourne, Australia where it is listed on the Australian Stock Exchange. The company offers a comprehensive registry management system from pre-registration to complex corporate actions. The company’s financial position is strong with total assets of USD 1,985.6 million as at Dec 31, 2005.