BACKGROUND |INFORMATION TECHNOLOGY |STAFFING |OPENING OF BRANCHES
BACKGROUND
The
Registrar Department of Barclays Bank DCO (Dominion, Colonial
and Overseas) was established in 1959. It was the first Registrar
Office to be established in Nigeria to compliment the Nigerian Stock
Exchange which was also established about the same time. The Registrars
remained a department in the renamed Barclays Bank of Nigeria Limited,
a wholly owned subsidiary of Barclays Bank International Limited.
However, in 1979 when Barclays Bank sold 50% of her shareholding in
the Bank to Nigerians, the Bank’s name changed to UNION BANK
OF NIGERIA LIMITED while the remaining shareholding of Barclays Bank
was disposed off in 1989. Up to 2003 Union Bank of Nigeria Plc retained
the Registrars as a Department.
For
over 45 years, the Department offered share register administration
service to many Corporate bodies and Governments. Some of the past
Registrars are Messrs Twin - the last expatriate Registrar, Israel
Bayo Ologunde, Emmanuel Evbota, S.O.S. Benson, Emmanuel O. Ogunwole,
S.O. Sanusi, Dipo Ogunsulire, late Felix Imokhuede, late K.C.N. Okechukwu
and Mrs. ‘Lola Oyebadejo, they all contributed their quotas
in the metamorphosis of today’s Union Registrars Limited.
It is pertinent to recognize the fact that it was during the tenure
of Dr. G.A.T. Oboh as Group Managing Director/CE of Union Bank of
Nigeria Plc, that Union Registrars Limited became a full fledged subsidiary
of the Bank and was incorporated on 6th February 2003. Mrs. Lola Oyebadejo,
Assistant General Manager, Union Bank of Nigeria Plc became the first
Managing Director/Registrar of the new company and the Board which
was inaugurated on Dec. 15, 2004 comprised Mr. John O.O. Akinleye
(Chairman) who incidentally was the third Nigerian to be trained by
Barclays Bank Ltd, London as Registrar, Mr B. B. Ebong (current GMD,
UBN PLC), Alh. Yusuf Garba Ali, Messrs I.Y.Z. Dimka, Akinola Ishola
and Mrs. Juliet A. Madubueze (current President Chartered Institute
of Bankers of Nigeria and a Director in Central Bank of Nigeria).
On
4th October 2005, Mr. ‘Soji Robert Olagunju former Deputy Registrar
of First Registrars Nigeria Limited assumed duty as the Managing Director/Chief
Executive/Registrar of Union Registrars Limited where Mr. John Omotayo
Omotosho Akinleye, a member of Board of Directors of Union Bank of
Nigeria Plc presides as Chairman with Alhaji Yusuf Garba Ali, Messrs
I.Y.Z. Dimka, B.B. Ebong, Akinola Ishola and Mrs. Juliet A. Madubueze
as members of the board. Presently, Messrs Anthony Esangbedo and Madu
Umar Biu replaced Messrs B.B. Ebong and I.Y.Z. Dimka who are now GMD/CE
and DGM Legal Services of Union Bank of Nigeria Plc respectively.
Gradually but steadily, the company is being turned around as evidenced
in the refurbishment/ renovation of the corporate head office as well
as improvement in our operational efficiency/service delivery. For
example, signature verification is now done within 48hours. A rejuvenated
and motivated workforce is in place with admixture of experienced
professionals and vibrant young men and women.
INFORMATION
TECHNOLOGY
Union
Registrars Limited is now fully automated with robust I.T. infrastructure.
Our share register administration software is adjudged the best in
the industry. It runs on windows 2003 server and SQL Platform. We
have 4 main servers comprising, two Dell power edge 4600 and 2600
with two Compaq Proliant ML530 Servers on a combined hard disk capacity
of 700GB. Also we have 2 backup Servers of 600Gb Hard Disk capacity.
We have acquired a major electronic data conversion software called
verity teleform V9 for data processing with two industrial scanners
capable of scanning and processing over 60,000 share offer application
forms/documents per day. Also acquired, is an electronic document
archiving system (e-DAS) to manage our online document storage and
verification procedures in order to increase the Turn-around time
and reduce the required time for transactions to CSCS.
Recently, we also acquired and installed the first electronic/coloured
audiovisual queuing system in the capital market to attend to shareholders
at our front office expeditiously.
Also, we have successfully captured a quarter of our shareholders
GSM numbers on to our database towards commencing e-caution notices
for shareholders requesting for signature verification/dematerilization
of share certificates to CSCS, thus safeguarding their interests by
giving them prompt notices on transactions on their share accounts.
Altogether, we have 215 workstations with 40GB Hard Disk Capacity;
265MB RAM4 GHZ Pentium 4 Processor each and 25 Nos Laptops comprising
of 2 server laptops for our operations and 18 laptops workstations
which are used for clients AGM’s all on Local Area Network.
We also have 6 high-end printers including 4 tally printers 6218 with
combined capacity to print 10,000 lines per minute.
We have participated in more than 100 public offers in the capital
market. We currently manage some of the largest registers in the petroleum
marketing, food/beverages, manufacturing, agro-allied, finance, securities
printing, Hotel/Tourism, Real estate, Insurance and construction industries
of the Nation’s economy. Our total shareholders base is over
1,531,000 spread all over the country.
Early in this Administration over 500,000 unclaimed certificates previously
returned and almost 40,000 returned unclaimed dividend warrants were
captured on to the systems with control numbers allocated to them
for easy retrieval. In the same vein, we have at great cost, reposted
close to 92% of these share certificates for which commendations were
received from affected shareholders who have for long looked forward
to receiving the share certificates. Also, most of the unclaimed dividends
warrants have since been updated and released to their beneficiaries.
It is noteworthy that Union Registrars Limited Head office has facility
for expansion as can be seen on the fourth floor where this auspicious
event is taking place. The sixth floor harbours in one wing, facilities
for seminars/workshops/lectures with 30 work stations. The other wing
has accommodation facilities comparable to a 3-star hotel for use
when Registrars will need to work round the clock in order to meet
deadlines set by clients during various capital market offers. These
facilities are readily available for processing of Public and Rights
offers for our clients and for rental to other Registrars who have
space constraints.
STAFFING
There
was a right sizing of the work force and the entry point today is
first degree. Regular training internally and externally are being
organized to meet specific needs of the individual worker. The inaugural
general staff retreat took place from 30th Sept. to 2nd October 2006
at Hermitage Garden Resort, Akodo, Lagos State where all members of
staff were involved in brain storming towards cementing the new work
spirit, ethics, corporate culture and orientation.
OPENING
OF BRANCHES NATIONWIDE
We
have opened branches in seven (7) states in addition to Abuja (FCT)
branch already in existence now upgraded to bring our services closer
to shareholders. With this development shareholders now find it easier
to obtain information from these branches with the resultant cost
saving implications and inconveniences of coming to Lagos. The branches
are located in Port Harcourt, Enugu, Kano, Ilorin, Yola, Ibadan, and
Benin City. They are linked On-line, real-time to our corporate Head
Office.
It is expected that Twelve (12) new branches will start operation
by the second quarter of 2007.
As we take share registration service to the doorsteps of shareholders,
some of whom are old, infirm and retirees, we hope their yearnings
and expectations will be met by these pioneering efforts and the Capital
Market will be better for it.
