From: To:

Management Loans Committee of the Board

ALH. MUHAMMADU DANGWANDU REQUEST FOR TEMPORARY OVERDRAFT FACILITY OF N1, 500,000.00 Applicant s Background Alh. Muhammed Dangwandu is a 48 year old indigene of Gwandu town the capital of Gwandu Local Government area of Kebbi State. He is a businessman a general contractor. He is also a politician occupying the position of Party Chairman P.D.P in Gwandu Local Government. In the said business he made a turnover of N and generated a profit of N Banking Relationship The applicant banking relationship commenced in the year 2004 in the Head office. The account has generated a total credit of N8, 835,599.67Cr and total debit of N8, 815,728.10Dr. The current balance stands at N28, 749.52Cr. Request The applicant request is for a temporary overdraft of N1, 500,000.00 to enable him complete the contract job. Security The security pledged is a statutory C of O No GW/P/0027 and a guarantee form duly signed by Alh. Abubakar Sarki of Gwandu Town. Summary of Terms and Conditions Obligor: Alh. Muhammedu DanGwandu (the obligor). Lender: Amount: Tenor: Purpose: Kebbi State Home Savings & Loans Ltd (The lender). N1, 500, 000.00 (One Million, Five Hundred Thousand Naira) Only. Sixty (60) days from the date of approval For completion of contract job.

Interest Rate The bank s prim lending rate (PhR) is currently at 21% per annum. This rate is however subject to change(s) depending on money market condition without prior notice. Management Fee; A non refundable concessionary fee of 10% of facility amount, payable upfront upon acceptance of the upper. Payment Source: Upon successful completion of contract job and payment. Availability: Strictly at the option of the Bank. Alternative source of Repayment: Realization of collateral Security. Expected Income Management Fee at 10% COT at 0.005% Interest at 21% p.a Gross Earnings Less cost of funds at @18% p.a Net Earning N150, 000.00 N7, 500.00 N315, 000.00 N472, 000.00 N270, 000.00 N202, 500.00

Declaration This is to declare the interest of Alh. Abubakar Gwandu of Gwandu Local Government. Remarks It has been observed that the conduct and operation of the account has been satisfactory. However, it is envisage for more mutual banking relationship. Recommendations In view of the above highlights therefore, the loans committee of the board is hereby invited to considered and approve an overdraft facility of N1,500,000.00 infavour of Alh. Muhammadu Dan Gwandu. The facility if granted shall be subject to Loan offer terms and conditions. Thank you very much Muh d Umar Zauro Head Mortgage/Advances