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NCR (NIGERIA) PLC

DIRECTORS REPORT

FOR THE YEAR ENDED 31 DECEMBER 2022

The directors present their report to the members of NCR (Nigeria) Plc together with the audited financial statements for the year ended 31 December 2022, which disclose the state of affairs of the company.

Legal Form

The company was incorporated on 9 December 1949 under the Companies Act of 1922 and is domiciled in Nigeria. The Company commenced operations under the name National Cash Register Company (West Africa) Limited and changed its name to NCR (Nigeria) Limited in 1974. The company was granted a listing on the Nigerian Stock Exchange on 30 May 1979. In 1990, the name of the Company was later changed to NCR (Nigeria) Public Liability Company in compliance with the Companies and Allied Matters Decree 1990. The name of the Company was changed to AT&T Global Information Solutions (Nigeria) Plc in 1994 and on 16 July 1996 the Company adopted its present name of NCR (Nigeria) Plc.

The company is a subsidiary of NCR Corporation (NYSE: NCR), the global leader in consumer transaction technologies, turning everyday interactions with businesses into exceptional experiences. With its software, hardware, and portfolio of services, NCR enables more than 550 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.

The company introduced the first ATM in Nigeria in 1989.

NCR is headquartered in Atlanta, United States of America with over 38,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States of America (“NCR Corporation”) and other countries.

61.76% of the share capital of the Company is held by NCR Corporation while the balance of 38.24% is held by Nigerians.

Principal Activity

The company’s principal activity includes provision of technology and services that help businesses connect, interact and transact with their customers. The company is a technology Company that provides

innovative products which include:

• ATM (Automated Teller Machines)
• ATM Value-add Software
• Retail Point of Sales terminals (Point of Sale)
• Self Service Kiosks ▪ Self-check-in/out

NCR (Nigeria) Plc provides technology and services that help business connect, interact and transact with their customers. The company is a technology company that provides innovative products and services to help business build stronger relationships with their customers, through our presence at customer interaction points such as Automated Teller Machines (ATM), Interactive Teller Machine (ITM), Retail Point of Sales (POS), Workstations, Self Service Kiosk, Self check-in/out systems and DVD Kiosks.

Changes in the Reporting Framework

The nature and effect of the changes as a result of adoption of the new accounting standards are described in the accompanying financial statements.

Several amendments and interpretations apply for the first time in 2022, but do not have a significant impact on the financial statements of the Company. The company has not early adopted any standards, interpretations or amendments that have been issued but are not yet effective

State of Affairs

In the opinion of the Directors, the state of the Company’s affairs is satisfactory and no events have occurred since the reporting date, which would affect the financial statements as presented.

Operating Results
	2022	2021
	₦’000	₦’000
Revenue	3,269,459	2,540,792
Profit/(Loss) before tax	(801,907)	317,480
Tax expense	(208,618)	(309,928)
Profit/(Loss) for the year	(1,010,525)	7,552