FIRS Director nabbed and arrested over N5 million tax fraud

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On January 29, 2016, The Economic and Financial Crimes Commission, EFCC, arrested Abumere Joseph Osagie, The Deputy Director, Regional Tax Office, Federal Inland Revenue Service, FIRS, in a case of abuse of office and bribery.

The suspect was picked following a complaint about his attempt to extort a university proprietor N5 million.

Osagie and Jamila Ojora had on January 27, 2016 allegedly approached Senator Ahmed Datti, the Chancellor of Baze University, Abuja and gave him a tax assessment of N20,029,496 through a letter of intent, which he paid.

However when he requested for the assessment certificate, they refused to oblige him. Instead they allegedly demanded for N5 million gratification.

All pleas by him fell on deaf ears. Consequently, the Chancellor of the University then petitioned the EFCC, and was advised to play along (Just like in Farouk Lawan and Femi Otedola case).

Consequently, a  bribed of N5 Million was arranged and marked (to serve a evidence) and was delivered to the director (Osagie) through Ojora in a sting operation (some of you will call this a set-up).

Ojora was arrested after she collected the N5m. His confession later led to the arrest of Osagie.

The houses of the suspects were searched by operatives of the EFCC, and documents were recovered.


As a Tax Consultant, this menace has been in Tax Practice for long and I must commend the effort of the Chancellor for taking up this matter. I enjoin all Tax Payer to emulate him and join in the battle of fighting corruption. I keep-on educating Tax Payer that having additional Tax Liability as a result of Tax Audit or investigation conducted is not a crime and does not mean heaven will fall. There are laid down procedures to address excessive Tax Liabilities. Tax Liability given by tax officer who conduct Tax Audit is not FINAL and CONCLUSIVE. The process can be taken away from them and handled with another bodies for intervention (just like you have hierarchy of court, to further your case if not satisfied with decision of lower court).

But because TaxPayers in Nigeria does not know their right, overzealous Tax Officials, while sitting at his desk can use the Letter Head of his office and send out harrassment letters to Tax Payers with the sole aim of scaring them with tax issues and at the end of the story the case will be settled via bribe. This is gross abuse of office. No matter how you present documentations to defend your position, the corrupt tax officers will still use the MIGHT of their office to insist that their findings is FINAL and CONCLUSIVE. The experience in Lagos state is more of concern. Lagos state will go to the back-door to obtain Ex-Parte order to lock down your office with the intention to force you to come to their office and do a gentleman’s negotiation (Bribe).

Over the years, Tax Officers has been in total control of Tax Practice, you find them acting also as Tax Consultant and/or Tax Practitioners while still in the employment of FIRS. Some even act as Auditor by preparing Audited Account right in their office. They do this by picking a copy of Audited Accounts already filed with them by a Chartered Accountants and merely change the Name of the Company and other unwanted information. The consequence of this is that the Chartered Accountants are left with no jobs to do and if they have at all, they will be at the mercy of Tax Officers who controls every aspect of Tax Practice.

The former FIRS Chairperson, Mrs Ifueko Omogui-Okauru introduce some reforms to address this issue and equally increase the salaries of the Tax Officers and other work conditions. During her tenure, I as a Tax Consultant experience huge sanity in the system. Collection of TAX CLEARANCE CERTIFICATE was never an herculean task. The closest FIRS chairman that emulated Omogui philosophy was Samual Ogungbesan who merely acted in Acting capacity before handing over to the present FIRS Chairman Tunde Fowler.

My conclusion is that, all Tax Payers should stand up for their right, they should ensure they pay legitimate taxes and ready to to fight the CORRUPTION aspect of the system (just like the Chancellor did in the case above). Together, we can help the present administration in the fight against corruption by doing our part such as saying NO to paying bribes and accept to do the RIGHT THING at all times.

Tax system is never meant to be used as a weapon to oppress and enrich the few, it is meant to manage the income inequality and source of revenue to Government, therefore Tax System should wear HUMAN FACE. In this era of relying on taxes to fund Government’s budget amidst corrupt tax officers, Tax Payer should expect though times and be ready to do what the Chancellor has done per above in order to survive the corruption in the Tax System.

Thank you



91 Companies Bid for NNPC Coastal, Bunkering Vessels Service Contract

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The Nigerian National Petroleum Corporation has begun the public opening of technical bids submitted by 91 companies to secure contract for the provision of Coastal and Bunkering Vessel Services. The coastal and bunkering services were for the operations of the Pipelines and Products Marketing Company, (PPMC), a subsidiary of the NNPC.

The Nigerian National Petroleum Corporation, NNPC on Thursday 22nd of October, 2015 embarked on the public harvesting of technical bids submitted by a total of 91 companies consisting largely of indigenous vessel owners vying to secure contract for the provision of Coastal and Bunkering Vessel Services for the operations of the Pipelines and Products Marketing Company, PPMC, a subsidiary of the NNPC.

The bid exercise, according to the corporation, seeks to engage the services of reputable organisations with essentially three ranges of deadweight tonnage – 5,000 to 8,000DWT; 10,000 to 20,000DWT; and 25,000 to 50,000DWT.

The exercise which was conducted at the Corporate Headquarters of the NNPC in Abuja in the full glare of representatives of the bidding companies also had officials of the Bureau of Public Procurement, BPP and the Nigerian Extractive Industry Transparency Initiative, NEITI as independent assessors.

The coastal vessel was designed to evacuate petroleum products from NNPC coastal refineries to various discharge ports in Nigeria or outside Nigeria as may be designated by PPMC and undertake the delivery of petroleum products to water fed depots with restricted draft jetties of 6 to 11 metres. The vessels would also conduct ship-to-ship transfer of cargo from import tankers and discharge same at waters depots among other functions.

The desired bunkering vessel services would also entail the loading of Automated Gas Oil Ago and low Pour Fuel Oil (LPFO) from water-fed refineries for bunkering purposes. The vessel would also supply bunkers to NNPC owned and chartered vessels as required on a monthly basis.

Other responsibilities of the vessel included the keeping of accurate accounts for AGO and LPFO loaded and supplied to NNPC Vessels as well as forwarding records of the bunkering activities to marine transport department of the PPMC on a monthly basis[plulz_social_like width="350" send="false" font="arial" action="like" layout="standard" faces="false" ]


On July 1, 2014, President Goodluck Jonathan signed into law the New Pension Reform Act 2014 (PRA 2014) after 10 years performance of the old Pension Reform Act of 2004. The new law repeals the 2004 Pension Reform Act No. 2 and prescribes a 10-year jail term for pension thieves.

The Act does not specify a commencement date, however, Section 2 of the Interpretation Act CAP I23 of LFN 2010 stipulates that, where no date of commencement is contained in an Act, the commencement day shall be the day the Act was passed or signed into law. Therefore, the commencement date of the new Pension Act is 1st July, 2014.

The changes in the old pension Reform Act 2004, was aim to streamline the savings of funds towards retirement and the provision of funds after retirement, including availability of funds for the surviving beneficiaries of deceased employees whilst in service and retirees under the pension scheme within the guaranteed period.

  • The key highlights and salient point of the new Pension Act are detailed below:Minimum number of staff requirement for employer to take part in pension scheme has been increased to 15 from 5 employees as stipulated under the 2004 Act.
  • Section 8(1) of the New Act exclude/exempt employees that is 3 years or less to retirement from participating in the pension      scheme.
  • Minimum contribution from employer has been increased from 7.5% to 10%. The minimum level of contribution from employee was also increased from 7.5% to 8%. This means the two rate is no longer equal. TNew-Pension-Reform-Act-2014he greatest impact is the base upon which the monthly contribution is to be calculated. The definition of ‘monthly emoluments’ has been expanded to mean the total emolument as defined in the employee’s contract of employment provided it is not less than the total of the employee’s basic salary, housing and transport allowance.
  •  Group life policy’s benefit is now allowed to be paid to a name beneficiary of employee upon his death. In the Old Act (Act 2004), Group life policy’s benefits are paid into a deceased employee’s Retirement Savings Account (RSA) which makes it difficult for beneficiaries to access. Consequently, employers are required to ensure that their employees avail the insurer with the list of their beneficiaries to receive the proceeds of their company’s Group Life Policy under which insurance has been taken out for their lives whilst in service.
  •  Voluntary contributions that is withdrawn within five years are taxable in the hands of the employee
  •  The 2014 Act also empowers PenCom, subject to the fiat of the Attorney General of the Federation, to institute criminal proceedings against employers who persistently fail to deduct and/or remit pension contributions of their employees within the stipulated time.
  •  In the event of loss of jobs (where an employee disengages from employment or is disengaged), the new Act reduces the waiting period for accessing benefits from six months to four.
  •  The Pension Reform Act 2014 makes provision that would compel an employer to open a Temporary Retirement Savings Account, TRSA, on behalf of an employee that failed to open an RSA within three months of assumption of duty.
  •  The Act also allows an employer to pay additional payments benefits to employee upon retirement OR can elect to take full responsibility of the contribution (that is, bears the total pension contributions of its employees). In that case, the Contribution shall not be less than 20% of the employee’s monthly emolument.


  • Employers are required to take up Group Life Insurance policy on behalf of their employees for a minimum of three times the annual total emolument of the employee.
  • Employee is free to utilize the amount on their RSA for either programmed withdrawal or to purchase an annuity from an insurance company.
  • The ACT still allows employer with less than the minimum staff requirement (prescriptive 3 employees) and self-employed persons to participate in the pension scheme under separate guidelines issued by PenCom. However, the Act is silent on the applicability of the Scheme to private organizations with more than 3 but less than 15 employees.
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Opening Speech of President Goodluck Ebele jonathan at the Inauguration of the national Conference, Moday, 17th march, 2014.

Remarks by His Excellency, President Goodluck Ebele Jonathan, GCFR  At the Inauguration of the National Conference  Monday, 17th March, 2014.

1.     I am delighted to welcome you all to the inauguration of this historic National Conference which promises to be another significant landmark in our efforts to strengthen national unity and consolidate democratic governance in our beloved country.

2.    I also believe that this National Conference is coming at a very appropriate time. Having just celebrated the first centenary of our country, the most compelling task before us, as we move ahead and contemplate what our nation will be at the end of its second century, is to lay a much stronger foundation for faster development.

3.   This we can achieve by building a more inclusive national consensus on the structure and guiding principles of state that will guarantee our emergence as a more united, progressive and prosperous nation.

4.    In our history as a political entity, we have experienced highs and lows but have always forged ahead. To my mind, the fact that we have weathered   all storms and continued with the mission of evolving a truly national identity signifies that we are going in the right direction.

5.   The strongest nations in the world today also went through their own formative stages; some for decades and others for centuries. We must learn from them that nationhood will not happen overnight, especially given the circumstances of our birth as a nation.

6.   History also teaches that nation-building is a journey of dedication, commitment, diligence, perseverance and patriotic vision. To be successful, nation-builders must continually strive to evolve better and more inclusive societies in which every citizen is a proud and committed stakeholder.

7.  It was with this objective in mind that we set up the Presidential Advisory Committee (PAC) on the National Conference in October last year and charged its members with the responsibility of designing the framework and modalities for a productive National Conference.

8.   The Committee which submitted its Report in December, 2013, was able to reach out to all Nigerians and various interest groups, socio-political groupings, regional and religious elements, professionals, civil society, the organised private sector, labour, youth, women and others to ascertain their views on the initiative.

9.   The Presidential Advisory Committee established that there was indeed, a national consensus for this Conference to be convened immediately, to meet the yearnings and aspirations of our people.

10.   The National Conference is therefore being convened to engage in intense introspection about the political and socio-economic challenges confronting our nation and to chart the best and most acceptable way for the resolution of such challenges in the collective interest of all the constituent parts of our fatherland.

11.  This coming together under one roof to confer and build a fresh national consensus for the amicable resolution of issues that still cause friction among our people must be seen as an essential part of the process of building a more united, stronger and progressive nation.

12.  We cannot continue to fold our arms and assume that things will straighten themselves out in due course, instead of taking practical steps to overcome impediments on our path to true nationhood, rapid development and national prosperity.

13.  For many years we have discussed and argued over various issues concerning our national existence and well-being. Much of this national discourse has been conducted through the mass media, both print and electronic. More recently, the advent of the age of ICT and social media has greatly enlarged the space for the discussion of our country’s future.

14.  Many more young and articulate  Nigerians who previously had little access to the traditional mass media have now joined the conversation, motivated by patriotic concern for good governance, peace, stability, justice, equity, fairness and the harmonious co-existence of the diverse groups that make up our great nation.

15.  Dear Compatriots, my administration is convening this National Conference today because we believe that we must assume responsibility for ensuring that the long-running national debate on the best way forward for our country is not in vain.

16.  It is our expectation that participants in this conference will patriotically articulate and synthesize our peoples’ thoughts, views and recommendations for a stronger, more united, peaceful and politically stable Nigeria, forge the broadest possible national consensus in support of those recommendations, and strive to ensure that they are given the legal and constitutional backing to shape the present and the future of our beloved fatherland.

17. In inaugurating this national conference today, we are not unmindful of the argument of those who say that we do not need such a conference since we already have an elected Parliament and an elected Government in place.

18.  As cogent as that argument may sound, I have chosen to act on the sincere conviction that in the truly democratic nation we are striving to build, we must never ignore the loudly expressed views of the majority of ordinary Nigerians.

19.  I have heard that majority say, that we need to rebuild trust by involving them in the process of developing a guiding document of our national political relationships which is more acceptable to all sections of the country. I have heard our people say that we need to openly and frankly discuss our problems and seek acceptable solutions instead of allowing them to fester and remain sources of perennial conflict.

20.  I have also heard them say that, as the elected representatives of our people, we must never arrogate to ourselves all knowledge and wisdom regarding the development of our country.

21. And I am in full agreement with our people. The power we hold is, without question, in trust for the people. Sovereignty belongs to the people. Their voices must be heard and factored into every decision we take on their behalf.

22. This National Conference is a very important avenue for the voices of our people to be heard. Our people have yearnings and desires that need to be discussed. Their representatives at this conference are neither usurping the role of the National Assembly nor the Executive. They are complementing us in our march towards a greater and stronger union.

23. Over the years, well-meaning Nigerians have drawn attention to inadequacies in our current constitution. Some have described it as a military-inspired document which does not take into full consideration the genuine desires and wishes of the people.

24.  The phrase in the preamble that says “we, the people,” has been variously criticised as being misleading because, according to the critics, the constitution was not written by the people.  There are also those who believe that the constitution is not our problem but the political will to faithfully implement it for the peace and progress of Nigeria.

25.  While opinions on the matter can be as diverse as rain showers, I believe that irrespective of our personal views on the issue, no one can deny the fact that every constitution is a living document that needs to be revised and improved upon from time to time. The United States, which is the model democracy in the eyes of many, has amended its constitution 27 times since it was first adopted in 1787.

26.  Some of our compatriots also believe that because we have held several conferences in the past, we do not need to hold another one. I do not share that view at all.

27.  A deeper look will reveal that the challenges we faced before each of the preceding national conferences were different. The challenges of 1956 are certainly not the challenges of 2014, and definitely not the challenges that the nation will face in years to come. It makes sense, therefore, that as the challenges before us evolve, we must be constant and proactive in our search for fresh solutions. We cannot continue to proffer yesterday’s solutions for today’s problems.

28.  This conference is open for us to table our thoughts and positions on issues, and make recommendations that will advance our togetherness. The issues range from form of government, structures of government, devolution of powers, revenue sharing, resource control, state and local government creation, boundary adjustment, state police and fiscal federalism, to local government elections, indigeneship, gender equality and children’s rights, amongst others.

29.   We must not approach these issues with suspicion and antagonism. Rather, we should be open-minded and work to achieve what is best for Nigeria. Even though you come to the Conference as nominees and representatives of different interest groups, I urge you all to make a more united, stronger, indivisible and prosperous Nigeria your preoccupation and reference point at this national gathering.  Whatever the pressures on you may be, I call upon you to put the best interest of Nigeria before all other sectional or group interests.

30.   Indeed, I am quite worried when I hear people say that some participants in this National Conversation are coming here to defend and promote ethnic or clannish agenda. It is very regrettable that there are persons who believe that we cannot undertake any collective task in our country without the hindrance of ethnic rivalry even after 100 years of nationhood.

31.   This conference gives us an opportunity to prove such persons wrong and I believe it will. As we start a new century of nationhood, we have an obligation to reshape and redirect our country for the benefit of our children. There should be no room for divisive cleavages and ethnic jingoism. There should be no room for selfish considerations that defeat the purpose of national progress. There should be room only for the national interest.

32.   In the 60s, our country was ranked along with some developing countries including India, Malaysia and South Korea. Today, those countries have moved far ahead of us in several areas. My expectation is that the outcome of this Conference will be a positive turning point for our country’s development. We must seize this opportunity to cement the cleavages and fault lines that tend to separate us.   We must re-launch our country.

33.   I know the task before you is onerous; but there must be only one winner, and there can only be one winner if we do everything right, and that winner must be Nigeria. I urge you therefore to focus strictly on the Nigerian Agenda.

34.   I expect that, as persons of integrity and honour, you will do nothing in this Conference that will undermine our efforts and desire to build a truly great nation.  I also expect that your discussions will be informed only by the noblest of instincts and persuasions.

35.   Our sole motivation for convening this conference is the patriotic desire for a better and greater nation. We are determined that things must be done in a way and manner that will positively advance that objective.

36.   While we recognise that groups and communities are the building blocks of our nation, we must also emphasise that we need one another to build the solid and prosperous country of our dreams.

37.   We cannot join hands together to build with a collective vision if we continue to harbour negative biases and prejudices against ourselves.

38.    Yesterday’s prejudices should die with yesterday. Today is a new day. This is the dawn of a new era. This is an opportunity to think anew. We must jettison the poisonous mind-sets of the past, which were built on unhealthy competition among our diverse groups and peoples.

39.   We need a new mind and a new spirit of oneness and national unity. The time has come to stop seeing Nigeria as a country of many groups and regions. We have been divinely brought together under one roof. We must begin to see ourselves as one community. We are joined together by similar hopes and dreams as well as similar problems and challenges. What affects one part of the community affects the other.

40.   An average Nigerian sees every part of the country as home. Let us seize the opportunity of this Conference to do more to further turn our diversity and plurality into unique national resources for strength and greatness.

41.   I have always affirmed that our ability to stay together despite our acknowledged differences, when other countries are finding it difficult to meet that challenge, is a powerful statement by Nigeria to the world on the virtues of tolerance and unity.

42.   It is a strong and compelling statement in a world much afflicted by strife and violence.  We must sustain it. We must not allow the antagonists of unity and togetherness to prevail. We must work ceaselessly to remain one nation bound in freedom, peace and unity, as our National Anthem says.

43.  Honourable Chairman and distinguished delegates, I urge you not to be under any illusions as you begin your assignment. The task that lies ahead of you is formidable. Over the coming weeks, you will be confronted with complex and emotive issues; strong views will be expressed by opposing sides and some disagreements will, in all likelihood, be intense.

44.  I sincerely believe, however, that we can overcome all obstacles to true national unity if we dig deep into the recesses of our national character and look up to God Almighty for wisdom, guidance and the generosity of spirit we need to ensure the success of this conference.

45. Once again, I wish to express my appreciation to the Nigerian people who have, without hesitation, accepted dialogue as a means of resolving all differences and tensions that may exist in the country, and therefore, given their unequivocal support for this National Conference.

46.  Let me at this point thank the National Assembly for introducing the provision for a referendum in the proposed amendment of the Constitution. This should be relevant for this Conference if at the end of the deliberations, the need for a referendum arises. I therefore urge the National Assembly and the State Houses of Assembly to speed up the Constitutional amendment process especially with regard to the subject of referendum.

47.  I thank the Chairman, Senator Femi Okurounmu and members of the Presidential Advisory Committee for the arduous work they undertook to prepare for the Conference.  I also thank the Chairman of this National Conference, Justice Idris Legbo Kutigi, the principal officers and all the distinguished patriots and representatives of our people who have taken time off their busy personal schedules to serve the cause of national unity and progress at this conference.

48.  I am confident that we are embarking on a landmark journey that will make us stronger as a nation if we undertake it with all sense of purpose and sincerity. Let us do that which is selfless, purposeful and patriotic so that history will remember us for having served our nation well.

49.  In conclusion, I urge all officials and participants in the national conference to work extra hard to ensure that their deliberations are completed on schedule, well ahead of the schedule of events for the next general elections already announced by the Independent National Electoral Commission (INEC).

50.  Let me again repeat what I have been saying that Goodluck Jonathan has no personal agenda in convening this national conference.

51.  Ladies and Gentlemen, I now have the honour and privilege of declaring the National Conference open, for the good of our Nation and to the glory of God Almighty who has brought us together.

52.   I thank you all.


Corruption costs EU $162 billion yearly, report says

The European Commission on Monday in Brussels unveiled the first anti-corruption report of the European Union, EU, saying corruption costs the European economy $162 billion (about N25.9 trillion) annually.

According to the report, corruption is still a challenge which affects all EU member-states despite initiatives taken against it in recent years. The results of the initiatives, however, are uneven.

The report showed that public procurement was particularly prone to corruption in the member-states, owing to deficient control mechanisms and risk management. It said some sectors, including urban development and construction, healthcare and tax administration, also seemed particularly vulnerable to corruption.

The EU Commissioner for Home Affairs, Cecilia Malmstrom, said in her reaction that corruption undermined citizens’ confidence in democratic institutions and the rule of law.

“It hurts the European economy and deprives states from much-needed tax revenue,” she said.

The commissioner said member-states had done a lot in recent years to fight corruption, but lamented that the report shows that it was far from enough. Ms. Malmstrom therefore urged EU member-states to follow proposals on counter-corruption listed in the report.

A Eurobarometer survey on the attitude of Europeans towards corruption published on Monday showed that 76 per cent of Europeans think that corruption is widespread; 56 per cent think that the level of corruption in their country had increased over the past three years; and eight per cent said they had experienced or witnessed a case of corruption in the past year.


GTBank expands into East African market with acquisition of 70 per cent stake in Fina Bank Group

The Guaranty Trust Bank, GTBank, on Wednesday announced the acquisition of 70 per cent stake in one of Africa’s financial conglomerates, the Fina Bank Group.

The bank said that the acquisition, which would extend its investment frontiers beyond Kenya, Rwanda, Uganda and Nigeria, followed its successful securing of the regulatory approvals in the East African countries and Nigeria.

GTBank stated that the acquisition of shares in Fina Bank Group was through a combination of capital injection and equity acquisition worth 8.6 billion Kenya Shillings, a development that would result in the fusion of two organisations with expertise in banking.

The GTBank Group has a vast business outlay in Africa and the United Kingdom, with combined staff strength of more than 12,000 workers in Nigeria, Cote d’Ivoire, Gambia, Ghana, Liberia, Sierra Leone and the U.K.

The bank’s managing director, Segun Agbaje, said that the acquisition was a strategic investment for customers and shareholders. He said with Fina Bank’s enviable banking record in East Africa, their combined strengths with GTBank would help build an attractive portfolio of leading products, services and marketing capabilities.

“We can now deepen existing and future customer relationships with differentiated capabilities to exceed customer expectations and grow market share,” Mr. Agbaje said, pointing out that the merger would also provide the partners with an attractive foothold in Kenya, Rwanda, and Uganda.

Mr. Agbaje also said that the bank would, over the coming months, integrate the operations of the Fina Bank Group into the GTBank system, while assuring the customers that the partnership would not affect its operations and level of service delivery to them.

The Chairman of Fina Bank Group, Dhanu Chandariam, said that the bank was delighted to partner with GTBank, noting that the business combination was consummated because they shared a common philosophy on integrity, governance, and transparency.

New Samsung Galaxy S5 coming in April, possibly with eye scanner

Samsung is eyeing an April release date for its upcoming Galaxy S5, and speaking of eye, it’s currently testing iris recognition technology that could be featured in the new handset which would be on par with Apple’s new fingerprint scanner in the iPhone 5C and 5S.. The upcoming device is expected to have a new design and features to compete with Apple’s iPhone 5c and 5c smartphones.

Samsung also plans to change up the design of the Galaxy S5, mainly because consumers complained that the S4 resembled its predecessor — the Galaxy S3 — too closely.

The S5 will be paired with a new wearable device that will be an evolution of the Galaxy Gear smartwatch.

There’s also a chance Samsung will release a high-end and low-end version of the phone. The high-end model could have a metal casing while the low-end will still use plastic like all other Samsung’s phones

Season’s Greetings

Season’s Greetings to you our Dear Valued Clients, Partners and Friends

The Management and entire staff of Adesanya and Partners (Chartered Accountants and Tax Practitioners) wish you our esteemed clients and business partners a Merry Christmas and prosperous business activities in the New Year – 2014.

We thank you for our unwavering support, continued patronage and we reaffirm our commitment to continue to provide all round business support to you and your organisation.

We understand that supporting your business in your effort in taking your business to the next level in 2014 is part of our priority and we reassure you that you can continue to count on our best professional service. We assure you that our high quality delivery service will be retained and improved upon even at the same moderate fee.

Please also take note that we shall be closing for the year from Monday 23rd 2013 to resume on Monday 6th January 2014. During this break period our services shall be skeletal and we shall be embarking on your Year-End-Audit exercise which comprises witnessing your stock-take, cash count and bank balance confirmation. Also, during the break period, we shall only have intermittent access to our emails.

On our resumption on Monday 6th January 2014 processing your company’s Tax Clearance Certificate (TCC)with the Federal Inland Revenue Service (FIRS) will be our utmost priority.

Also, we want to remind you that December 2014 is the deadline for Phase 3 (the SMEs) to comply with the International Financial Reporting Standard (IFRS). We shall keep you posted all you need to do.

Once again Merry Christmas and a more productive 2014 to you all.