Page TABLE OF CONTENTS. 1. Corporate Information Statement of Accounting Policies Reports of the Auditors

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1 Public Disclosure Authorized HPDP 2 PROJECT: NATIONAL AGENCY FOR THE CONTROL OF AIDS (NACA) CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1 ST DECEMBER, 2015 Public Disclosure Authorized TABLE OF CONTENTS Page 1. Corporate Information 2 2. Statement of Accounting Policies 3 3. Reports of the Auditors Balance Sheet 6 5. Statement of Receipts and Expenditure 7 6. Cash Flow Statements 8 7. Notes to the Finacial Statements 9-10 Public Disclosure Authorized Public Disclosure Authorized 7 -

2 HIV/AIDS PROGRAMME DEVELOPMENT PROJECT CONSOLIDATED 11 (HPDP 11) FINANCIAL STATEMENTS FOR THE YEAR 2015 ENDED 3 CORPORATE INFORMATION 1ST DECEMBER, 1. Prof. John Idoko Project Manager 2. Hajiya Maimuna Mohammed Project Manager( Altemate)/CMO 3. Dr Atta Ibrahim Deputy Director, Partnership / Tech. Manager 4. Oluwakemi Ladeinde Community mobilization Officer (Alternate). 5. Ishaya Dawha Procurement officer 6. Dr. Kayode Ogungbemi Monitoring and Evaluation. 7. Adeoye Ibironke Monitoring and Evaluation(Altemate) 8. Nsikak Okon Ebong-FCA Project Accountant 10.Hakeem Sulaimon -ACA Project Accountant (Alternate) 11.Ofodi James Asomokhe -FCA Internal Auditor 12.Mustapha Ya'u CNA Internal Auditor. (Alternate) WORLD BANK IN -COUNTRY TEAM Ms Mary Nelly Mary -Francois Enias Baganizi Country Director Task Team Leader AUDITORS Adenusi & Company (Chartered Accountants) City Plaza Off Nkwere Street, Garki 2 Abuja BANKERS Sterling Bank Plc PROJECT IMPLEMENTATION UNIT ADDRESS Plot 823, Ralph Shodehinde Street Central Business District, Abuja 2

3 HPDP 2 PROJECT: NATIONAL AGENCY FOR THE CONTROL OF AIDS (NACA) CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1 ST DECEMBER, 2015 NUMBERS OF STATES THAT THEIR ACCOUNTS WERE CONSOLIDATED - 27 States (including FCT) and NACA were consolidated as detailed below- Abia, Adamawa, Bauchi, Benue, Cross River, Ebonyi, Edo, Ekiti, Enugu, Fct-Abuja, Gombe, Imo, Jigawa, Kaduna, Katsina, Kebbi, Kogi, Kwara, Nassarawa, Niger, Ogun, Ondo, Osun, Plateau, Rivers, Taraba, Yobe, Zamfara. STATES THAT DID NOT SUBMIT THEIR FINANCIAL STATEMENTS DUE TO NOT PARTICIPATING IN THE PROJECT (IDA CREDIT) AND THOSE WHO DID NOT SUBMITTED THEIR REPORTS - Kano - Not Participating - Bayelsa - Did not draw from the fund in Akwa Ibom, Borno, Oyo, Lagos, Delta, Anambra and Sokoto SACA was not consolidated because their report was not submitted till the completion of the audit exercise. HPDP 2 PROJECT: NATIONAL AGENCY FOR THE CONTROL OF AIDS (NACA) CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1 ST DECEMBER, 2015 STATEMENT OF ACCOUNTING POLICIES The major accounting policies adopted in arriving at the financial information set out in the financial statements are as follows: 1. Basis of Accounting The financial statements are prepared under the cash basis of accounting and on historical cost convention. 2. Project Expenditures The project expenditure are not written off as they were incurred but disclosed separately in the Balance sheet as project development and operating expenditures. 3. Stock Stocks are stated at lower of cost and net realizable value. 4. Foreign currency Transactions Transactions in foreign currencies are converted into Naira at the prevailing rate of exchange as at the dates of the transaction. Foreign currency balances are converted to the Naira at the rates of exchange ruling at the balance sheet date. Gain or loss arising on the conversion of foreign currencies is included in operating expenditure. 3

4 ADENUSI & COMPANY (CHARTERED ACCOUNTANTS) AN INDEPENDENT MEMBER FIRM OF PRIME GLOBAL PrimeGlobal * Audit * Tax * Consulting * Financial Advisory Abuja Office: Lagos Office: Other Offices: 2nd Floor,Wing B City Plaza, 7, Rukuba Close, Off Nkwere Street, OffAhmadu Bello Way, Garki. Abuja P 0. Box 7589,Wuse,Abuja. Tel: , info@adenusico.com Website: 42,Ayodele Okeowo Street, Gbagada, Lagos. Tel: , , Ibadan, Ijebu-Ode & Maiduguri AUDITORS' REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS OF THE WORLD BANK NATIONAL AGENCY FOR THE CONTROL OF AIDS (NACA), HIV/AIDS PROGRAMME DEVELOPMENT PROJECT 11 (HPDP 11) AND 27 STATES PIUs We have prepared the accompanying consolidated financial statements of the National Agency for the Control of AIDS (NACA), HIV/AIDS programme development project II (HPDP 11) and the twenty seven States (SACAs) for the year ended 31st December, 2015 set out on pages 6 to 10 and prepared on the basis of the accounting policies on page 3. The Project is co-financed by the IDA Credit number Respective Responsibilities of the project Management and Auditors. The Project Implementation Unit (PIU)-NACA coordinates the activities of the HPDPII Project. It is our responsibility as Auditors to express an independent opinion, based on our audit, on the project consolidated financial statements and to report our opinion to you. Basis of Opinion: We conducted our audit in accordance with International Standards on Auditing and World Bank guidelines. These Standards and World Bank guidelines require that we plan and perform the audit to obtain reasonable assurance that the consolidated financial statements are free of material misstatements. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the estimates and judgement made by the project officers in the preparation of the consolidated financial statements, and whether the accounting policies are appropriate to the project circumstances, consistently applied and adequately disclosed. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free of material misstatements, whether caused by fraud or other irregularity or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of the consolidated financial statements. 4 List of Partners is available at our Abuja Office

5 AUDITORS' REPORT CONTINUED Opinion: In our opinion the Agency's consolidated Financial Statements give a true and fair view of the financial position of National Agency for the Control of AIDS, Abuja and the thirty four states as at 31't December, 2015 and of the cash flow statements for the year ended and prepared in accordance with International Accounting Standards. The Statements of Expenditure (SOE) in page 13 are in agreement with the books of account and adequate supporting documentation has been maintained to support claims to the World Bank for reimbursements of expenditures incurred; and which expenditures are eligible for financing under the credit/loan agreement. Emphasis of the Matter Without qualifying our opinion we draw attention to note 9 on page 10 on Auditors' Opinion issued by us. Ahme unde Adenusi FCA, FRC/2014/ICAN/ For Adenusi & Co. (Chartered Accountants) Abuja 2 9 1h June, 2016 A

6 CONSOLIDATED BALANCE SHEET AS AT 31ST DECEMBER, ST 31ST 31ST DECEMBER DECEMBER 31ST DECEMBER DECEMBER CONSOLIDATED NACA CONSOLIDATED NACA NOTE N N N N Fixed Asset 1 1,338,714,777 70,121, ,843,539 69,538,692 Advances 2 28,216,308 27,735,212 14,278,132 14,096,690 Bank Balance 3 1,926,272,520 70,853,089 3,491,138,786 54,107,586 Project Development Expenditure 4 3,368,046,477 3,118,249,203 3,318,552, ,122,529 Operating Cost 5 13,195,530, ,848,826 7,029,889, ,488,879 Accounta Payable 8 (6,716,409) (6,716,409) - 19,850,064,256 3,560,091,629 14,653,702,296 1,125,354,375 Financed By World Bank (IDA) Credit 6 17,929,680,440 3,525,065,654 13,697,664,343 1,125,354,331 Counterpart Fund 6 1,464,366, ,925,477 - Other 7 &7a 456,017,801 35,025, ,112, ,850,064,256 3,560,091,629 14,653,702,296 1,125,354,375 THE FINANCIAL STATEMENTS WERE APPROVED BY THE MANAGEMENT ON 28th JUNE, 2016 AND SIGNED ON ITS BEHALF BY 6

7 CONSOLIDATED RECEIPT AND PAYMENT FOR THE YEAR 31ST DECEMBER ST DECEMBER 31ST DECEMBER 31ST DECEMBER 31ST DECEMBER SOURCE OF FUND CONSOLIDATED NACA CONSOLIDATED NACA N N N N World Bank IDA 17,929,680,440 2,453,818,909 13,697,664,343 1,125,354,331 Counterpart Fund 1,464,366, ,925,477 - Bank Interest 22,317,353-9,081, Statement of Expenditure Reple 1,765,303-1,765,303 - Loan 124,274,501-30,000,000 - Exchange Difference 261,814, ,562,754 - Others 45,845, ,500 10,702,768-19,850,064,256 2,454,516,409 14,653,702,296 1,125,354,375 EXPENDITURE Civil Work 61,881,947-13,552,708 - Motor Vehicle 218,294, ,479,052 12,462,962 Plant and Machinery 41,382,559-21,240,500 11,700,000 Office Equipment 186,383, , ,441,520 40,779,189 Furniture and fittings 50,237,988-49,714,572 4,596,540 Others 780,533, ,415,187 3,009,638 Training/Workshops/Seminars-( 2,970,274,714 61,993,644 2,846,105, ,790,610 Consultancy -Local Component 397,771,763 18,945, ,447,096 43,048,533 Gen. Admin Expenses 582,625, , ,546,536 - Travelling & Expenses 357,397,312 78,767, ,265,149 29,366,195 Other operating cost 1,497,271, ,166,224 - Printings & stationeries 216,989, ,324,277 7,204,075 IEC Materials & Other Meet 1,339,072,231 81,769, ,110,955 58,586,559 Repairs and Maintenance- Moto 91,322,446 6,051,303 76,725,413 3,242,703 Repairs and Maintenance- Offic 234,705, ,864,081 6,414,000 Advert and publicity 114,704, ,898,429 2,158,728 Support Staff allowance 55,826,949 36,232,501 - Accommodation 51,517,711 38,094,429 Insurance policy 130,714,018 85,583,987 Consumables 695,252, ,798,347 - Exchange loss 28,061,803-13,714,133 - Fuel & Lubrication 53,050,116-36,780,340 - P.F.M.U Grant 120,141,497-78,651,442 - Utility service 19,045,383-16,692,397 - Epidemic Appraisal, Survey 308,310, ,287,873 - World Aids Day 118,095,891-87,778,969 - Procurement Test kits 817,595, ,991,931 Support to PLWHAS 137,011, ,164,961 - Development levy 9,864,054 9,864,054 - Sensitization 67,301,418 46,809,117 - Grants-Ministries 1,991,325,564 1,788,950,444 Grants-Local Government 608,451,097 57,251,750 Refreshment/Entertainment 38,996,029 3,296,288 26,499,383 - Telephone & Courier services 17,232,756 9,634,446 - Audit fees 30,161,985 21,545,288 2,000,000 Bank Charges 16,096,642 1,235,419 7,199, ,981 Tax Charge 9,196,097 9,196,097 - HAF Grants 2,945,563,504 2,112,770, ,509, ,283,386 Advance 28,216,308 17,681,162 14,278,132 14,096,690 17,437,879,893 2,383,663,321 10,968,805,405 1,071,246,789 Surplus / Deficit 2,412,184,363 70,853,088 3,684,896,892 54,107,586 7

8 CONSOLIDATED CASH LOW STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER ST 31ST 31ST 31ST DECEMBER DECEMBER DECEMBER DECEMBER CONSOLIDATED NACA CONSOLIDATED NACA A OPERATING ACTIVITIES N N N N Project Development Expenditure (49,494,262) (2,193,709,458) 1,671,034,234 (280,679,442) Operating Cost (6,165,640,958) (171,689,684) (3,770,200,811) (101,044,553) Accounts payable 6,716, Advance (13,938,176) (17,681,162) 106,724,169 (14,096,690) (6,222,356,988) (2,383,080,304) (1,992,442,408) (395,820,685) B INVESTING ACTIVITIES Civil Work (48,329,239) - 29,003,101 - Motor Vehicle (51,815,938) - 372,299,813 - Plant and Machinery (20,142,059) - 34,251,545 - office equipment (20,942,348) (583,017) 286,587,179 (6,225,033) furniture and fittings (523,416) - 63,188,481 - Other (397,118,238) - (245,130,875) - (538,871,238) (583,017) 540,199,243 (6,225,033) C FINANCING ACTIVITIES IDA Fund 4,232,016,097 2,399,711,323 (53,005,271) 250,643,568 Counterpart Fund 682,440,538 - (859,663,135) - Bank Interest 13,235,702-1,163,044 - Loan 94,274, Exchange Difference 139,251,987-15,510,868 - Others 35,143, ,500 (139,193,882) 44 Cash and cash Equivalent at the beginning 3,491,138,785 54,107,586 5,978,570, ,509,692 Cash Equivalent at the End 8,687,500,745 2,454,516,409 4,943,381, ,153,304 (A+B+C) 1,926,272,520 70,853,088 3,491,138,785 54,107,586 REPRESENTED BY:- bank Balances 1,926,272,520 70,853,088 3,491,138,785 54,107,586 8

9 NOTE TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER ST 31ST 31ST DECEMBER DECEMBER 31ST DECEMBER DECEMBER Fixed Assets CONSOLIDATED NACA CONSOLIDATED NACA N N N N Civil Work 61,881,947-13,552,708 - Motor Vehicle 218,294, ,479,052 12,462,962 Plant and Machinery 41,382,559 21,240,500 11,700,000 Office Equipment 186,383, , ,441,520 40,779,190 Office Furniture 50,237,988 49,714,572 4,596,540 Others & Investment 780,533, ,415,187-1,338,714, , ,843,539 69,538,692 2 Advances Advances 28,216,308 27,735,212 14,278,132 14,096,690 28,216,308 27,735,212 14,278,132 14,096,690 3 Bank Balance Bank and Cash Balances 1,926,272,520 70,853,089 3,491,138,786 54,107,586 1,926,272,520 70,853,089 3,491,138, ,699,835 4 Project Development Expenditure Training/Workshops/Seminars- Component 1&3 2,970,274, ,201,470 2,846,105, ,790,611 Consultancy -Local Component 3 397,771,763 61,993, ,447, ,331,918 3,368,046, ,195,114 3,318,552, ,122,529 9

10 NOTE TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER Operating Cost Gen. Admin Expenses 582,625, , ,546,536 - Travelling & Expenses 357,397, ,196, ,265,149 29,366,195 Other operating cost 1,497,271, ,166,224 3,009,538 Printings & stationeries 216,989,294 7,204, ,324,277 7,204,175 IEC Materials & Other Meetings 1,339,072, ,355, ,110,955 58,586,559 Repairs and Maintenance - Motor vehicle 91,322,446 9,294,006 76,725,413 3,242,703 Office Running cost 234,705,736 6,414, ,864,081 6,414,000 Advert and publicity 114,704,388 2,158, ,898,429 2,158,728 Internet Access & Subscription 28,508,697-17,899,439 - Support Staff allowance 55,826,949-36,232,501 - Accommodation 51,517,711-38,094,429 - Insurance policy 130,714,018-85,583,987 - Consumables & Condoms 695,252, ,798,347 - Exchange loss 28,061,803-13,714,133 - Fuel & Lubrication 53,050,116-36,780,340 - P.F.M.U Grant 120,141,497-78,651,442 - Utility service 19,045,383-16,692,397 - Epidemic Appraisal, Survey 308,310, ,287,873 - World Aids Day 118,095,891-87,778,969 - Procurement Test kits 817,595, ,991,931 - Support to PLWHAS 137,011, ,164,961 - Development levy 9,864,054-9,864,054 - Grants-Ministries 1,991,325,564-1,788,950,444 - Grants-Local Government 608,451,097-57,251,750 - Work Plan Development 296,679,837-24,280,203 - Project Launch 138,677, ,074,314 - Office Rent 28,384,000-22,214,000 - Supervision visit& Sensitization 67,301,418-46,809,117 - Refreshment/Entertainment 38,996,029 6,305,926 26,499,383 - Telephone & Courier services 17,232,756-9,634,446 - Newspaper 378, ,150 - Audit fees 30,161,985 3,607,697 21,545,288 2,000,000 Bank Charges 16,096,642 1,742,400 7,199, ,981 Tax Charge 9,196,097-9,196,097 - HAF Grants 2,945,563,504 2,299,054, ,509,415-13,195,530,583 2,578,902,915 7,029,889, ,488,879 6 IDA CREDIT IDA Funds 17,929,680,440 3,525,065,654 13,697,664,343 1,125,354,331 Counterpart Fund 1,464,366, ,925,477-19,394,046,455 3,525,065,654 14,479,589,820 1,125,354,331 7 Other Income Bank Interest 22,317,353-9,081, Statement of Expenditure Replenishment 1,765,303-1,765,303 - Loan 124,274,501-30,000,000 - Others 45,845, ,500 10,702, ,203, ,500 51,549, a Exchange Difference 261,814,741 34,328, ,562,754-8 Accounts Payable WHT Payable (3,108,712) (3,108,712) - Audit fees (3,607,697) (3,607,697) - (6,716,409) (6,716,409) - 9 Auditor's Opinion on Consolidated Financial Statements We relied on the audit Opinion issued by the States SACA's Auditors in issuing Audit Opinion on Consolidated Financial Statements 10

11 NATIONAL AGENCY FOR THE CONTROL OF AIDS (NACA) The Presidency Plot 823 Ralph Shodeinde Street, Central Area, Abuja. Website: Tel: ; Fax: or TF NACA 0 30"' Junie 2016 Tie Country Director Worid Bank Country Oftice Asokoro AbuJa ear Sir SIBM4'iSSJON CF NACA-H 1PuP II ÄDITE1) REPORT ANI ) MANÅGEMVNT LETTER W<OR THE YEARI 2015 We refer to ihe abo,e subject and herebyn frmaiy frward ilhe cisolidated financi relo ts 0.'ie Auditor fxternal for National Agenc i the k-on!ro! of AIIDS (NACA HPDP >D! i 20;5 and Nanagement Letter accoidingl1 LBest of Regards D V inzce & Accouits P 3 A JUN2 NACA:fighting AIDS to finish!

12 FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1 ST DECEMBER, 2015 TABLE OF CONTENTS Page 1. Corporate Information 2 2. Statement of Accounting Policies 3 3. Reports of the Auditors Balance Sheet 6 5. Statement of Receipts and Expenditure 7 6. Cash Flow Statements 8 7. Notes to the Finacial Statements Statement of Special Account Statement of Expenditure 13

13 FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1 st DECEMBER, 2015 CORPORATE INFORMATION 1. Prof. John Idoko Project Manager 2. Haj iya Maimuna Mohammed Project Manager( Altemate)/CMO 3.Dr Atta Ibrahim Deputy Director, Partnership / Tech. Manager 4. Oluwakemi Ladeinde Community mobilization Officer (Alternate). 5. Ishaya Dawha Procurement officer 6. Dr. Kayode Ogungbemi Monitoring and Evaluation. 7. Adeoye Ibironke Monitoring and Evaluation(Alternate) 8. Nsikak Okon Ebong-FCA Project Accountant 9.Hakeem Sulaimon -ACA Project Accountant (Alternate) 1O.Ofodi James Asomokhe -FCA Internal Auditor 1 Ya'u CNA Internal P.Mustapha Auditor. (Alternate) WORLD BANK IN -COUNTRY TEAM Ms Mary Nelly Mary -Francois Enias Baganizi Country Director Task Team Leader AUDITORS Adenusi & Company (Chartered Accountants) City Plaza Off Nkwere Street, Garki 2 Abuja BANKERS Sterling Bank Plc PROJECT IMPLEMENTATION UNIT ADDRESS Plot 823, Ralph Shodehinde Street Central Business District, Abuja 2

14 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31sT DECEMBER, 2015 STATEMENT OF ACCOUNTING POLICIES The major accounting policies adopted in arriving at the financial information set out in the financial statements are as follows: 1. Basis of Accounting The financial statements are prepared under the cash basis of accounting and on historical cost convention. 2. Project Expenditures The project expenditure are not written off as they were incurred but disclosed separately in the Balance sheet as project development and operating expenditures. 3. Stock Stocks are stated at lower of cost and net realizable value. 4. Foreign currency Transactions Transactions in foreign currencies are converted into Naira at the prevailing rate of exchange as at the dates of the transaction. Foreign currency balances are converted to the Naira at the rates of exchange ruling at the balance sheet date. Gain or loss arising on the conversion of foreign currencies is included in operating expenditure. 3

15 ADENUSI & COMPANY (CHARTERED ACCOUNTANTS) AN INDEPENDENT MEMBER FIRM OF PRIME GLOBAL PrimeGlobal * Audit * Tax * Consulting * Financial Advisory Abuja Office: Lagos Office: Other Offices: 2nd Floor,Wing B City Plaza, 7, Rukuba Close, Off Nkwere Street OffAhmadu Bello Way, Garki, Abuja P.0. Box ,Wuse,Abuja. Tel: , info@adenusico.com Website: wwwadenusicocom 42,Ayodele Okeowo Street, Gbagada, Lagos. Tel: , , Ibadan, ljebu-ode & Maiduguri AUDITORS' REPORT ON THE FINANCIAL STATEMENTS OF THE WORLD BANK NATIONAL AGENCY, FOR THE CONTROL OF AIDS (NACA). HIV/AIDS PROGRAMME DEVELOPMENT PROJECT 11 (HPDP 11) We have prepared the accompanying consolidated financial statements of the National Agency for the Control of AIDS (NACA) for the year ended 31st December, 2015set out on pages 6 to 13 and prepared on the basis of the accounting policies on page 3. The Project is co-financed by the IDA Credit number Respective Responsibilities of the project Management and Auditors. The Project Implementation Unit (PIU)-NACA coordinates the activities of the HPDP II Project and as such responsible for the preparation of the financial statements. It is our responsibility as Auditors to express an independent opinion, based on our audit, on the projects' financial statements and to report our opinion to you. Basis of Opinion: We conducted our audit in accordance with International Standards on Auditing and World Bank guidelines. These Standards and World Bank guidelines require that we plan and perform the audit to obtain reasonable assurance that the consolidated financial statements are free of material misstatements. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the estimates and judgement made by the project officers in the preparation of the consolidated financial statements, and whether the accounting policies are appropriate to the project circumstances, consistently applied and adequately disclosed. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free of material misstatements, whether caused by fraud or other irregularity or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of the consolidated financial statements. 4 List of Portners is available at our Abuja Office

16 AUDITORS' REPORT CONTINUED Opinion: In our opinion the Agency Financial statements give a true and fair view of the financial position of National Agency For The control of Aids, Abuja as at 3 1 st December, 2015 and of the cash flow statements for the year ended and prepared in accordance with international accounting standards. The Statements of Expenditure (SOE) in page 11 are in agreement with the books of account and adequate supporting documentation has been maintained to support claims to the World Bank for reimbursements of expenditures incurred; and which expenditures are eligible for financing under the cre it/loan agreement. AL Ahmed Tunde Adenusi FCA, FRC/201,4/ICAN/ For ADENUSI& Co Chartered Accountants) Abuja. tb June,

17 BALANCE SHEET AS AT 31ST DECEMBER, DEC, DEC, N N Fixed Asset 1 70,121,709 69,538,692 Advances 2 27,735,212 14,096,690 Bank Balance 3 70,853,089 54,107,586 Project Development Expenditure 4 3,118,249, ,122,529 Operating Cost 5 279,848, ,488,879 Accounts Payable 8 (6,716,409) - 3,560,091,629 1,125,354,375 Financed By World Bank (IDA) Credit 6 3,525,065,654 1,125,354,331 Others 7&7a 35,025, ,560,091,629 1,125,354,375 THE FINANCIAL STATEMENTS WERE APPROVED BY THE MANAGEMENT ON 29TH JUNE, 2016 AND SIGNED ON ITS BEHALF BY

18 INCOME AND EXPENDITURE FOR THE YEAR ENDED 31ST DECEMBER, 2015 COMBINED SOURCE OF FUND 31 DEC, DEC, DEC,2014 NOTE N N N Balance as at January ,107,586 World Bank IDA 6 3,525,065,654 2,399,711,323 1,125,354,331 Other Income(Naira Bank Acet.) 7 697, , Expenditure Motor Vehicle 1 12,462,963-12,462,963 Plant and Machinery 1 11,700,000-11,700,000 Office Equipment 1 41,362, ,017 40,779,189 Furniture and fittings 1 4,596,540-4,596,540 Training/Workshops/Seminars-Component ,784,254 61,993, ,790,610 HAF Grants-Component 2 4 2,299,054,089 2,112,770, ,283,386 Consultancy -Local Component ,993,644 18,945,111 43,048,533 Audit fee 5 2,000,000 2,000,000 Audit Expenses-others 5 6,305,926 3,296,288 3,009,638 Bank Charges 5 1,742,400 1,235, ,981 Travelling Expenses 5 108,133,590 78,767,395 29,366,195 Meeting expenses 5 140,355,838 81,769,279 58,586,559 Printing and stationery 5 7,204,075 7,204,075 Maintenance of Office Equipment 5 6,414,000 6,414,000 Maintenance of Motor Vehicle 5 9,294,006 6,051,303 3,242,703 Advert and publicity 5 2,158,728 2,158,728 Security Expenses 5 570, ,000 - Advance 31,777,852 17,681,162 14,096,690 Total Expenditures 3,454,910,111 2,383,663,321 1,071,246,790 Surplus/ (Deficit) 70,853,088 70,853,088 54,107,585 7

19 CASHFLOW STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, DEC, DEC, A OPERATING ACTIVITIES N N Training/Workshops/Seminars-Component 1 &3 (61,993,644) (126,413,702) HAF Grant-Component 2 (2,112,770,703) (186,283,386) Consultancy -Local Component 3 (18,945,111) (21,587,823) Audit fee (1,000,000) Audit Expenses-others (3,296,288) (1,808,000) Bank Charges (1,235,419) (50,944) Travelling Expenses (78,767,395) (26,120,037) Meeting expenses (81,769,279) (11,961,508) Printing and stationery (3,119,175) Maintenance of Office Equipment (880,000) Maintenance of Motor Vehicle (6,051,303) (1,574,070) Advert and publicity (925,350) Security Expenses (570,000) Advance (17,681,162) (14,096,690) (2,383,080,304) (395,820,684) B INVESTING ACTIVITIES Motor Vehicle Plant and Machinery Office Equipment (583,017) (6,225,033) Furniture and Fittings. (583,017) (6,225,033) C FINANCING ACTIVITIES Cash and cash Equivalent at the beginning 54,107, ,509,692 IDA Fund 2,399,711, ,643,568 Other Income (Naira Acct) 697, ,454,516, ,153,304 Cash and cash Equivalent at the (A+B+C) 70,853, ,107,586 70,853,088 54,107,586 REPRESENTED BY:- Bank Balances 70,853, ,107,586 70,853,088 54,107,586 8

20 NOTE TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, ST DECEMBER, 31ST DECEMBER, CUMMULATIVE N N N I FIXED ASSETS A Motor Vehicle 12,462,963-12,462,963 B Plant and Machinery 11,700,000 11,700,000 C Office Equipment 41,362, ,017 40,779,189 D Office Furniture 4,596,540 4,596,540 70,121, ,017 69,538,692 2 ADVANCES Titus Yakubu James Onuh Uzoana Osita Christian Sterling Bank Nigeria Plc.(The amount represent fund meant for transfer 10,603,225 12,757,041 Federal Ministry of Health(NASCP) 5,878,488 - Federal Ministry of Agriculture & Rural Development -. Federal Ministry of Women Affairs Nigeria Immigration Service Federal Ministry of Youth Development. Federal Ministry of Education HIV/AIDS Project National Association of Nigeria Traders Federal Ministry of Labour of Productivity Nigerian Prison Service Staffs Advance 9,337,127 - James Obehi Anenih 828,928 Okoli Patricia Omowumi 512, ,725 Mr. Hakeem Sulaimon (68,023) (2,004) Sundry Debtors 1,471,670 27,735,212 14,096,690 3 Bank Balance Special Account 58,395,823 53,871,913 Drawdown Account 604, ,147 Drawdown Account(HAF) Account 139,643 6,526 Drawdown Account(TSA) General Account 11,713,591-70,853,089 54,107,586 9

21 NOTE TO THE FINANCIAL STATEMENTS 31ST DECEMBER, 31ST DECEMBER, FOR THE YEAR ENDED 31ST DECEMBER, Project Development Expenditure N N A Training/Workshops/Seminars-Component 1 181,845, ,427,895 B HAF Grant-Component 2 2,299,054, ,283,386 C Consultancy -Local Component 3 61,993,644 43,048,533 D Training/Workshops/Seminars-Component 3 575,356, ,362,716 3,118,249, ,122,529 5 Operating Cost Audit fee 3,607,697 2,000,000 Audit expenses-others 6,305,926 3,009,538 Bank Charges 1,742, ,981 Travelling Expenses 102,196,056 29,366,195 Meeting expenses 140,355,838 58,586,559 Printing and stationery 7,204,175 7,204,175 Mantenance of office Equipment 6,414,000 6,414,000 Maintenance of Motor Vehicle 9,294,006 3,242,703 Advert and publicity 2,158,728 2,158,728 Security Expenses 570, ,848, ,488,879 6 IDA CREDIT Balance as at 1st January 1,125,354, ,710,764 Income from IDA 2,399,711, ,643,568 3,525,065,654 1,125,354,331 7 OTHER INCOME 697, a Exchange gain 34,328,475-8 ACCOUNT PAYABLE WHT Payable 3,108,712 - Audit fees payable 3,607,697-6,716,409-10

22 NOTE TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, la MOTOR VEHICLE N N Balance as at Ist January 12,462,963 12,462,963 Toyota Corolla. Toyota Hiace. 12,462,963 12,462,963 B PLANT AND MACHINERY Balance as at 1st January 11,700,000 11,700, KVA Generator. 11,700,000 11,700,000 C OFFICE EQUIPMENT Balance as at 1st January 40,779,189 34,554,156 Cost of computer and Software.. IT Equipment 583,017 6,225,033 DHIS Mobile Phones.. Computer Hardwares. 41,362,206 40,779,189 D FURNITURE AND FURNITURE Balance as at 1st January 4,596,540 4,596,540 Furniture and Filling Cabinet.. 4,596,540 4,596,540 4A TRAINING WORKSHOP/SEMINARS- Component 1 Balance as at 1st January 132,427,895 59,619,662 Training, Workshop & Seminars 49,417,216 72,808, ,845, ,427,895 4B HAF GRANTS: Component 2 Balance as at 1st January 186,283,386 Ubelle Nig. Ltd 54,496,778 36,331,185 Economic and Social Enpowerment of rural Comm. 30,919,549 20,642,820 Ibolda Health International 60,972,615 40,648,410 Zebra Multiservices Ltd 67,016,816 44,677,875 Human Supp Services 47,734,976 31,691,544 Akkral Consul 62,303,063 12,291,552 UNICEF 1,209,946,907 - UNFPA 579,380,000-2,299,054, ,283,386 4C CONSULTANCY-Component 3 Balance as at 1st January 43,048,533 21,460,710 Consultancy 18,945,111 21,587,823 61,993,644 43,048,533 4D Training[Workshops/Seminars-Component 3 Balance as at 1st January 513,362, ,757,246 Various Training and Seminars 61,993,644 53,605, ,356, ,362,715 11

23 HIV/AI)S PROGRAMME DEVELOPMENT PROJECT 11 (IIPDP 11) STATEMENT OF SPECIAL ACCOUNT IDA FOR THE YEAR ENDED 31ST DECEMBER, Opening Balance 503, ,582 Received in the period 3,171,897 1,608,264 Interest in the Period. 3,675,481 2,292,846 Transfered to Draw Down Account (3,674,790) (1,789,262) Balance ,584 12

24 SUMMARY OF STATEMENT OF EXPENDITURE FOR THE YEAR ENDED 31ST DECEMBER, Withdrawal Cumulative Cumulative DATE Application Application no AMOUNT AMOUNT Amount Amount Number $ N $ N 1/5/ NACA/02/14 354, ,306, ,070 59,306,693 1/5/ NACA/06/15 85, ,390, ,981 73,696,782 3/12/ NACA/02/15 265, ,163, , ,860,733 3/12/ NACA/01/15 851, ,287,766 1,556, ,148,499 6/25/ NACA/06/15 84, ,543,006 1,641, ,691,505 6/26/ NACA/04/15 1,186, ,023,818 2,827, ,715,322 11/3/ Component 3A 344, ,669,093 3,171, ,384,416 7/2/ Direct Transfer 2,950, ,380,000 6,121,897 1,189,764,416 7/2/ Direct Transfer 660, ,746,907 6,782,523 1,319,511,323 7/2/ Direct Transfer 5,497, ,080,200,000 12,280,284 2,399,711,323 TOTAL 12,280,284 2,399,711,323 13