Connect with us

Business and Economy

Guaranty Trust Bank Swims in IGR Controversy as Forensic Auditor Petitions EFCC

Published

on

Guarranty Trust Bank, GTB
Spread the love
By NGIJ team of Oluwasegun Abifarin and Olawale Abideen

Guaranty Trust Bank plc prides itself as the foremost “Financial Institution built on a foundation of excellence, professionalism and best practices

Its Orange rule philosophy is also anchored on “Professionalism, Service, Friendliness, Excellence, and Trustworthiness.”

But recent development is threatening the bank’s virtue and reputation which has produced ₦3.287Trillion asset base and ₦575.6Billion Shareholders Fund

According to the documents received by the Nigerian Guild of Investigative Journalists, NGIJ, on the 29th December, 2016, Ori Adeyemo and Co, a Forensic Accounting Consultancy firm based in Lagos was engaged by the Nasarawa State Board of Internal Revenue to assist in the improvement of Internally-Generated-Revenue (IGR) base of excess bank charges, high network individuals, withholding tax on dividends and interest and deposits against banks operating in the State from 29/05/1999 and for an initial period of 4 years based on the firm’s proposal. js">

In his petition to the EFCC, obtained by the NGIJ team, Adeyemo maintained that at the end the forensic investigation, he was able to establish total final and conclusive liability of N249, 867,971.47 against GTBank out of a total of N3, 632,677,464.41 against 12 banks operating in the state.

ALSO READ  Easing Lockdown: How Greedy GTB Workers Demand Money From Customers To Gain Entrance Into Banking Hall![Exclusive Video]

From the total figure, a sum of N762, 862,267.53 representing 20% agreed commission (including 5% Value-Added-Tax) is due and payable to us within 7 days upon the receipt of said 16/09/2019 earlier demand letter served on the State Governor.

According to him, before commencement of work, the firm was introduced to the Nasarawa State Government by the duo of Mr. Charles Osuji (aka Kenneth Zuofa) and Mr. Edmond Ogbonna

Despite this, the Nasarawa State Government insisted that the firm should instead, deal with its own official facilitators and middlemen, namely Mr. Edmond Ogbonna of Tarindy Concept International Ltd. of 2, Hunkuyi Street, off Jesse Street, Asokoro, Abuja FCT and Mr. Charles Osuji (aka Kenneth Zuofa) of Ice R Us Integrated Global Service Ltd. of 4, Samota Faola Street, Ikeja, Lagos, which was complied with.

The deal however went sour after completion of works as Adeyemo alleged that the state officials and their middlemen have entered a new deal with some of the banks to shortchange the whole exercise.

ALSO READ  WEMA Bank Swims in IGR Controversy as Forensic Auditor Petitions EFCC

Adeyemo further alleged he was reliably informed that the Board had given clean bill of health and letters of non-indebtedness to the said compromised concerned banks.

The petitioner also included a compact disk (CD) detailing all completed jobs in intellectual properties as so far executed by the consultant for the Niger State Government enabling it to demand for an additional but unpaid N732,143,601.52 commission sum.

Guaranty Trust bank has also been dressed in similar robe in Niger state where it was accused of withholding N21, 013,850.30 due to the state.

“We humbly request that this matter be expeditiously investigated and if the said suspects are found culpable, be charged to a Court of competent jurisdiction in order to serve as a deterrent to others that may want to emulate their nefarious and despicable acts of impunity and reckless abandon,” Adeyemo told EFCC.

Oyinade Ogunade, GTB Head of Corporate Communication could not respond to text messages and whatsApp messages sent to her for further clarification or the position of the bank as regards the allegation of “shortchanging” the states. After series of calls by NGIJ Investigative Journalists, she eventually responded last week Friday that she was in a clinic and that she will call back later which she never did till today.

Author Profile

Abdulrahman Obaje
Abdulrahman Obaje
Prince Abdulrahman Obaje is a Media and ICT Consultant, Journalist, online marketer, social media strategist, Mathematician and Computer Scientist based in Abuja, Nigeria. He is the Founder and the Publisher of The Informavores!. You can reach me on +234 805 939 5252 or send i-witness report directly to me on news@informavores.com.ng.

Business and Economy

Made In Nigeria Phone To Hit Market Soon – ITF

Published

on

By

Spread the love

The Director General and Chief Executive of the Industrial Training Fund (ITF), Sir Joseph Ari has disclosed that the Fund is set to acquire machinery for mass production of ITF Mobile in Nigeria.

He said the Industrial Fund will soon hit the nation’s market when it commences the mass production and it launching into market the ITF mobile phones.

The DG in a press statement signed by the Director, Public Affairs Department, Suleyol Fred Chagu and made available to Journalists yesterday in Jos the Plateau State maintained that the Industrial Training Fund (ITF) has initiated processes for the procurement and installation of a production line specially dedicated for that purpose at the ITF Model Skills Training Centre (MSTC), Abuja, Nigeria’s capital.

Ari, disclosed this when he received the leadership of the two in-house Unions of the Fund in his office at the Headquarters where he also revealed that since the symbolic presentation of the ITF Mobile phone to President Muhammadu Buhari, the Agency has been inundated with requests for partnership from corporate entities within the country.

ALSO READ  WEMA Bank Swims in IGR Controversy as Forensic Auditor Petitions EFCC

In his words, “I have given directive to the Director of Technical and Vocational Skills Training Department, who is also the zonal Director of the ITF MSTC to get all the immediate machines so that we will be able to set up the production line.

“Since the good news, we have also received a lot of requests for partnership, including one from AfriOne, who want to
partner with us. This is good as we cannot do it alone because we are not an island unto ourselves. The main thing is that this product is a home grown product and this lends credence to the fact that we too can do it in Nigeria” he boastfully stated.

ALSO READ  Transcorp Ughelli Power Plant To Generate 900MW Of Electricity - Elumelu

The DG expressed gratitude to the leadership of the two union bodies, “the Senior Staff Association of Statutory Corporations and Government Owned Companies (SSACGOC) and Amalgamated Union Public Corporations, Civil Service Technical and Recreational Employees (AUPCTRE)” for identifying and supporting the Management, saying.
For him, “every leader should have a strategic vision. But you also need followers that will key into the leaders’
vision and happily, that’s what has happened in the ITF. The Unions have been great partners in progress. You
have at all times remodeled, looked at the vision, reviewed it along with us and the areas where you find us going
wrong, you took us back on track”.

He stressed the need for continuous dialogue as recipe for industrial harmony. “The relationship between the ITF, Management and the two Unions gives credence to the fact that it pays to dialogue.

ALSO READ  Rising Bank Fraud: Sad Tales From GTB, Ecobank, Polaris, Fidelity, Others

President of Senior Staff (SSACGOC), Comrade Kayode Alakija and the Acting Chairman of AUPCTRE, Comrade Lawal Mohammed Ado earlier on in a separate remarks showered praises on the DG for the milestone achievement and urged the need to speed up the mass production of the android phone which, according to them, would be another source of revenue for the Agency.

Continue Reading

Business and Economy

BECCIMA Lauds FG For Initiating To Establish Cottage Industries In 774 LGAs

Published

on

Spread the love

The Benue State Chamber of Commerce, Industry, Mines and Agriculture (BECCIMA) has lauded the Federal Government for establishing cottage industries across all the Local Governments Areas (LGAs) in Nigeria

President of BECCIMA, Dr Paul Ubwa, made the commendation at a news conference on Friday in Makurdi.

“It is a well thought out initiative by the Federal Government to set aside the sum of one trillion naira to establish cottage industries in each of the 774 LGAs in the country.

“This all important news was disclosed by the Hon. Minister for Special Duties and Inter-Governmental Affairs, George Akume.

“We the organised private sector in Benue express our sincere appreciation to the government of President Muhammadu Buhari for coming up with this unique initiative.

ALSO READ  Censors Board Trains, Gives Grant to 100 Youths in Nasarawa State

“The initiative is aimed at creating wealth for the common man,’’ he said.

According to him, the initiative when implemented will go a long way in eradicating poverty in Benue State and indeed Nigeria and the president’s name will be written in gold for posterity.

“In Benue state, we are hoping that in order to ensure stability, sustainability and longevity of the proposed cottage industries, each should be incorporated as a company with a Board of Directors.

“This should be made up of indigenes of the catchment area or host community.

“The plan will involve the local government council itself, traditional institutions, cooperative societies and associations, youth/women groups, existing entrepreneurs, traditional land owners and other interest groups.

ALSO READ  Pandemonium as COVID -19 Patient Dies in Commercial Bus

“We are assured of and envisage the support of the Benue State government’’

Ubwa also appealed to the Federal Government and most especially, the Minister of Special Duties and Inter-Governmental Affairs to make Benue one of the pilot states for the take-off of the programme.

“On our part, we stand ready to co-operate with the ministry and other support agencies to ensure success and sustainability of the initiative,’’ he said. 

Author Profile

Abdulrahman Obaje
Abdulrahman Obaje
Prince Abdulrahman Obaje is a Media and ICT Consultant, Journalist, online marketer, social media strategist, Mathematician and Computer Scientist based in Abuja, Nigeria. He is the Founder and the Publisher of The Informavores!. You can reach me on +234 805 939 5252 or send i-witness report directly to me on news@informavores.com.ng.

Continue Reading

Business and Economy

FG Flag-off Gold Processing Cluster in Kogi

Published

on

President-Muhammadu-Buhari
Spread the love

The Federal government on Tuesday carried out the groundbreaking ceremony of the Gold Processing Cluster, located in Mopa, Mopamuro council area of Kogi State.

The Permanent Secretary, Federal Ministry of Mines and Steel Development, Dr. Oluwatoyin Akinlade who led the Federal government team for the event said the projects is part of the FG efforts to refocus the economy from oil depended.

ALSO READ  BECCIMA Lauds FG For Initiating To Establish Cottage Industries In 774 LGAs

Dr. Akinlade said the Gold Processing Cluster will also cater for other Gems stones and solid mineral mining activities in the North Central of the country.

“The Ministry of Mines and Steel Development has commenced the implementation of programmes aimed at establishing and accelerating mineral value chain activities through the development of a Mineral Mining cluster in each of the six geopolitical zone. adsbygoogle || []).push({});

“The objective of the project is to Assembly and coordinate the activities of the artisanal and small scale miners in the identified areas based on the identified mineral type for each geopolitical zone.

“The mining cluster is to provide common facilities and coordinated activities to enable easy formalization of the artisanal miners in the identified zones and avail them an opportunity for mineral value addition, as well as creation of market access.

“Furthermore, the cluster shall be adequately equipped with state of the art equipment for the purpose of imparting modern morning expertise and knowledge into the teeming youths across north Central zone. Provision shall also be made for heavy equipment such as excavators leasing by the artisan miners.”

The Kogi State Governor, Yahaya Bello said the state government will consolidate on the idea of the Gold Processing Cluster in diversifying the economy of the state.

Bello who was represented at the event by the state Commissioner for Information and Communication, Mr. Kingsley Fanwo said, “We thank Mr. President for this project. This will spur the economy of the state. It will create jobs and make Kogi the economic hubs of the country.

“It will increase the trading of the state. This underscore the economic blueprint of the state government in making the state a giant amongst other states in term of industrialization.”

Fanwo who promised that the state will ensure proper security of the projects, urged stakeholders to take advantage of the opportunities.

The Permanent secretary said the project is expected to be commissioned by ending of June, and become operational immediately.

Author Profile

Abdulrahman Obaje
Abdulrahman Obaje
Prince Abdulrahman Obaje is a Media and ICT Consultant, Journalist, online marketer, social media strategist, Mathematician and Computer Scientist based in Abuja, Nigeria. He is the Founder and the Publisher of The Informavores!. You can reach me on +234 805 939 5252 or send i-witness report directly to me on news@informavores.com.ng.

Continue Reading

Recent Posts

Copyright © 2021 Informavores Nigeria Communication Enterprises | Powered by ObajeSoft Inc