Folio 5(d)(i) Company Profile of Ibrahim Jimoh & Co

Company Profile of Ibraheem Jimoh & Co. (Chartered Accountants)

Contents

Page(s)
The Firm ---------------------------------------------------------------------------------1
Location ----------------------------------------------------------------------------------1
Structure of the Firm -----------------------------------------------------------------1
The Firm’s Services ------------------------------------------------------------ 1 -- 5
Staffing & Supplementary Information------------------------------------- 5 -- 6
Clients ------------------------------------------------------------------------------------6
Professional Fees ---------------------------------------------------------------------6
Conclusion ------------------------------------------------------------------------------6
APPENDIX
• Partners’/Management Profile ------------------------------------------ 7 – 9
• List of Clients --------------------------------------------------------------- 9 --11

Company Profile of Ibraheem Jimoh & Co. (Chartered Accountants)

1. THE FIRM
The Firm Ibraheem Jimoh & Co. (Chartered Accountants) was registered on 5th May,
1984 to render a wide range of Professional Services to Clients. The Firm
commenced business in Kaduna on 2nd July, 1984 and subsequently relocated to
Lagos in July 1993.

2. LOCATION:
The firm’s operational base is as follows.

2.1 Ibraheem Jimoh & Co.

(Chartered Accountants)

1, Alhaji Mudashiru Awe Street
Off Jibowu Street
Yaba.
P.O.Box 1089
LAGOS.
Tel: 0802 377 5711
E – mail:

3. STRUCTURE OF THE FIRM:
The Firm is structured into Departments under the direct supervision of the Partners.

The Departments - Audit, Accountancy, Taxation, Information Technology and
Administration inter-relate and draw upon the respective ancillary Secretarial Services
and Management Consultancy Services rendered by the Firm's associated Companies
– Integrated Computer Systems Limited, Jimsec Services Limited and Acorn
Investment and Managements Services Limited. The Firm is therefore technically
organised to render a very high standard of professional services to its clients.

4. THE FIRM'S SERVICES:

The services we render to our various clients include:

4.1 STATUTORY AUDIT

In accordance with the Companies and Allied Matters Decree 1990 and/or other
Enabling Enactments, we examine the books of account and Accounting Records of
the Client Company/Organisation and report to the Owners. In the report we express
our opinion on the financial statements whether or not they show a true and fair view of
the financial affairs of the Company/Organisation.

We carry out our audit assignments in accordance with generally acceptable auditing
standards and in the most beneficial manner to our Clients. Apart from the expression
of opinion, we submit to our Clients Management Reports in which we detail matters of
internal control, comments, and recommendations aimed at improving the Clients
business operations.

4.2 INVESTIGATIONS

Investigations are enquiries which we carry out to meet the Clients desired objectives.

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The scope of the enquiries and the purposes for same is numerous. Some of the
common types of investigation are:

- Acquisition of Companies
- Take-overs and Mergers
- Purchase of Business
- Fraud
- Prospective Lending
- Bank Presentations for Loans

After each Investigation we report our findings to the Clients for implementation.

4.3 ACCOUNTANTS REPORTS
The Firm also provides special Reports of Investigations into Limited Companies for
the purpose of Capital Issues to the Public or listing on the Nigeria Stock Exchange.

i) Prospectus Report:
We undertake investigations and issue report for our Client Company's
prospectus i.e. an invitation or offering to the public for subscription or purchase
of the Company’s Shares or Debentures. The report is usually to give the
relevant Company's Financial Statements and Information in the manner so
required by the Companies and Allied Matters Decree, 1990.

ii) Listing on the Stock Exchange:
We investigate and report on the Financial Statements of Client Companies
who wish to be quoted on the Nigerian Stock Exchange.

iii) Profit Forecasts:
We undertake to issue Accountants Reports on Profit Forecasts included in
Prospectus or Bids for Takeovers and Mergers.

4.4 ACCOUNTANCY
We also provide Accountancy services i.e. writing-up of the books of Accounts,
preparation of periodic and end of year Financial Statements, Bank Reconciliation,
Creditors and Debtors Reconciliations, Balancing-up of Books of Accounts.

4.5 TAXATION
Our Taxation Department computes and agrees our Clients Income Tax liabilities with
the Inland Revenue. The Department procures Tax Clearance Certificates for our
Clients and assists them in planning their Tax Matters. The Department also handles
on behalf of our Clients their staff's Personal Income Tax matters.

4.6 LIQUIDATION AND RECEIVERSHIP
The Firm acting through the Partners has severally been appointed as Liquidators or
Receivers to a number of Companies by the Companies' Creditors, mostly Banks.
Such liquidations and receiverships have always been executed successfully.

4.7 MANAGEMENT CONSULTANCY
The Firm has an associated Company - Acorn Investment and Management Services
Limited which is primarily a Management Consultancy outfit. Its services encompass:

4.7.1 Design and Installation of Accounting System
This involves:
* Reviewing the existing Accounting System of an organisation

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* Designing an entirely new Accounting System to replace an existing
one.

* Implementation and training.

4.7.2 Internal Audit Systems/Manual
We also design and implement a customised Internal Audit System that meets
internal control procedures of our clients. We also document the systems so
designed in the form of an Internal Audit Manual specifying tasks for each
functional area.

4.7.3. Financial Management Services
To succeed in business, it is important for all organisations to manage their
finances efficiently and effectively. Our services in this regard include:

4.7.3.1 Budgeting and Budgetary Control
This involves preparation of budget procedures and techniques. Preparation of
both long and short term budgets.

4.7.3.2 Working Capital Management
We review, prepare and advise on
* Cash Flow
* Debtors
* Creditors
* Stock

4.7.4 GENERAL CONSULTANCY

4.7.4.1 Feasibility Studies
We evaluate the feasibility of proposed projects/ventures and advise on their
viability. Emphasis is laid on market research.

4.7.4.2 Project Management
We also assist in managing projects or ventures from the drawing board stage
through infancy to maturity.

4.7.5 HUMAN RESOURCES MANAGEMENT

4.7.5.1 Management Development and Training
Because of changing business environment, we create the following fora for
business executives and all categories of staff to update their knowledge and
intimate them with recent developments in their respective fields and topics of
general interests.

Workshop - Forum for discussion and practical work on a particular
subject.

Seminars - Meetings organised to discuss or study specific topics.

Lectures - Talk giving information about a subject to an audience or
a class often as part of a teaching programme.

Conferences - Meetings for discussion or exchange of views.

Training is also organised for all categories of staff tailored to the specific
needs of the organisation. We undertake the following types of training:

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* System Implementation Training
This type of training is designed specifically for personnel of a client
who are acquiring or implementing a new system of accounting.

* Industrial Training
This is designed to meet the needs of specific industry. Participants are
usually drawn from companies and organization within the same
industry e.g. "Basic Auditing Course in Banking".

* In-house Training
This is designed to meet the specific need of a client and is usually
organised exclusively for the staff of one client.

* Computer Training
Our associated company, Integrated Computer Systems Limited
organises computer training programme for Professionals and
Managers in both private and public organisations. The courses offered
include the following among others:
- Computer Application in Management

- Project Management and Micro-Computers

- Advance Computer Software Operations

- Advance Computer Programming and many other relevant
topics.

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4.7.5.2 Executive Selection/Search

This involves the identification and selection of candidates for Management
Positions. Selection and search exercise include:

* Headhunting
* Advertisement
* Participation in interview panels
* Shortlisting of candidates for vacant positions

4.7.5.3 Executive Remuneration/Incentive Plans
We review and advise on commensurate executive salaries and incentive
plans. We also assist Management in negotiating salaries and welfare
packages with organised labour union. We also do tax planning on salaries
paid to staff.

4.7.6 COMPUTER SERVICES
Acting through our associated company, Integrated Computer Systems
Limited, we provide a wide range of services and advice on the selection of
software and hardware acquisition and implementation of whatever system is
selected. The extent of our involvement is entirely up to the client and ranges
from a short meeting in which general advice are given to a full comprehensive
service where systems are appraised, defining of systems specification,
selection of suitable software and hardware and implementation of the new
system.

4.7.6.1 Managing Microcomputer Systems
We also advise client on micro computer environment covering:

- Site preparation
- Cabling requirements
- Choice of program

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- File archiving
- Effective use of Computer Systems

4.7.6.2 Software Packages
Our firm has developed over the years software packages for our numerous
clients. Our team of experts can prepare customised software packages that
will meet clients’ needs.

Packages available for immediate installation include:
* General Ledger Package
* Billing Systems
* Stock/Inventory System
* Personnel/Payroll System
* Accounts Receivable System
* Accounts Payable System
* Fixed Assets Management System

4.8 SECRETARIAL SERVICES
Jimsec Services Limited, an associated Company is organised to render Secretarial
Services to our Clients. These Secretarial services are mainly in the areas of:

* Incorporation and Floatation of Private and Public Companies.
* Registration of Business Names.
* Filing of Corporate Annual Returns and other particulars of Directors,

Secretaries etc with the Corporate Affairs Commission.
* Company Secretarial Duties - Secretaries to Boards of Directors, Registrars

etc.

5. STAFFING:
The Firm realises that the quality of its Service is dependent on the professional
training, experience and exposure of the founding Partners and the supporting staff.
The partners and their supporting staff accordingly constitute a formidable team
technically competent for excellent service to its Clients.

5.1 IBRAHEEM A. JIMOH - FCA (SENIOR PARTNER)
He is a Fellow of the Institute of Chartered Accountants of Nigeria, a Certified Forensic
Accountant and the Partner in charge of Audits. His professional accountancy career
spans over 35 years in both the industry and practice.

He trained with the Firm of Egunjobi, Sulaimon & Co., Kaduna where he was head of
various audit assignments and later, the head of the Tax Department. Please see
Appendix A1 for his detailed Curriculum Vitae.

5.2 JOSEPH A. ABOLARIN – FCCA, FCA (PARTNER)
He is a Fellow of the Institute of Chartered Accountants of Nigeria and the firm’s
Technical and Review Partner. He trained with the firm of Peat, Marwick, Ani, Ogunde
& Co. (now KPMG Audit) from 1976 to 1988 where he rose to the post of Audit
Manager. He joined the services of Owena Bank in January 1989 as Head, Audit and
Inspection where he had direct responsibility for the planning and execution of
Inspection Coverage of all the thirty two branches of the Bank. He was subsequently
appointed as Area Controller for Lagos/Eastern branches of the Bank.

He was subsequently employed by Fountain Trust Merchant Bank Ltd as Senior
Manager, Audit and Control Unit, a post he held till October, 1999. He joined Ibraheem

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Jimoh & Co. as Technical and Review Partner in January 2000.
5.3 SUPPORTING STAFF

The Firm has experienced and skilled supporting staff comprising one Senior Manager,
two Managers and two Assistant Managers who are members of the Institute of
Chartered Accountants of Nigeria. Others are seven Audit Seniors, four Semi-
Seniors and twenty Audit Trainees who are mostly graduates in Accounting and are
partly qualified Accountants.
6. CLIENTS:
Our Client portfolio is varied and extensive. They include Private and Public Limited
Liability Companies in Commerce, Industry, Agriculture and Finance, Educational
Institutions, Hotels, Construction and Pharmaceutical concerns, Government
Parastatals, Airline and Air Travel Organisations. Appendix A4 is an array of our
Clients and the services we have rendered or are still rendering to them.
7. PROFESSIONAL FEES:
The ethics of the profession dictate that professional fees are reasonable and
affordable to Clients. We as a progressive and forward looking firm are guided by
same. Our fees depending on the nature of the service are generally based upon:
* an assessment of the Assignment
* the volume of work involved
* the calibre of staff deployed and
* the time taken to complete the assignment.
The fees are normally quoted and agreed with Clients at the engagement or planning
stages.
8. CONCLUSION:
The above information about the Firm and Clients are given confidentially. They are to
acquaint you with the Firm, its services and serve as a guide in your decision to
engage the services of Chartered Accountants. They are by no means exhaustive and
do not represent an advertisement. We would be glad to provide any further
information that may be required.

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APPENDIX A1
CURRICULUM VITAE

IBRAHEEM A. JIMOH - FCA (SENIOR PARTNER)

EDUCATION

Ijebu Muslim College, Ijebu Ode - 1967 - 1971
The Polytechnic, Ibadan - 1974 - 1976

ACADEMIC AND PROFESSIONAL QUALIFICATIONS

West African School Certificate - December 1971 - Grade One.
Ordinary National Diploma - June 1976 - Distinction.
A.C.C.A. Foundation A and B - June 1976.
ICAN - Intermediate Examination - November 1976.
ICAN - Final I Examination - May 1978.
ICAN - Final II Examination - November 1979.
ICAN – Certified Forensic Accountant - March 2010

PROFESSIONAL WORK EXPERIENCE

Name of Organisation Period Covered Position Held

Y.A. Ahmed & Sons Limited 1976 - 1977 Accountant
Nigerian Agricultural &
Cooperative Bank Limited 1977 - 1978 Senior Accountant
Egunjobi, Sulaimon & Co. 1978 - 1980 Audit Trainee
Electrowatt Consulting
Engineers & Planners 1980 - 1982 Chief Accountant
Egunjobi, Sulaimon & Co. 1982 - 1984 Audit Senior
Ibraheem Jimoh & Co. 1984 to date Partner

OTHER PROFESSIONAL/SOCIAL APPOINTMENTS HELD

Assistant Secretary, ICAN, Kaduna District Society, 1982 - 1983
Secretary, ICAN, Kaduna District Society, 1984 - 1986
Assessor in Auditing & Investigation - Final II Exam. 1984 - 1988
Vice-Chairman, ICAN, Kaduna District Society, 1988 - 1990
Treasurer, Nigerian American Chamber of Commerce 1992 - 1993

PROFESSIONAL TRAINING EXPERIENCE

Acquired considerable experience in the following areas:
* Auditing and Accountancy Services
* Management Consultancy Services
* Forensic Audit and Investigation
* Receiverships
* Secretarial Services
* Tax Consultancy Services

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APPENDIX A2
CURRICULUM VITAE

JOSEPH ADEYEMI ABOLARIN FCA, FCCA

EDUCATION

Seventh Day Adventist Secondary Modern School, Otun Ekiti 1964 – 1966

Ekiti Teachers’ Training College, Ikere – Ekiti 1967 – 1969

The Polytechnic Ibadan 1974 – 1976

NCR Computer Science Institute 1998

ACADEMIC AND PROFESSIONAL QUALIFICATIONS

Secondary Modern School Certificate 1966 Passed with Merit

Teachers Grade II Certificate 1969 Passed with Merit

Ordinary National Diploma 1976 Passed with Distinction

Association of Certified and Corporate Accountants 1980

Certificate in Computer Usage 1998

PROFESSIONAL WORK EXPERIENCE

Name of Organisation Period Covered Position Held

Peat Marwick, Ani, Ogunde & Co. 1976 – 1980 Accountant-in-Training
Peat Marwick, Ani, Ogunde & Co. 1980 – 1981 Audit Senior
Peat Marwick, Ani, Ogunde & Co. 1982 – 1983 Audit Supervising Senior
Peat Marwick, Ani, Ogunde & Co. 1984 – 1986 Assistant Audit Manager
Peat Marwick, Ani, Ogunde & Co. 1987 Deputy Audit Manager
Peat Marwick, Ani, Ogunde & Co. 1988 Audit Manager
Owena Bank PLC 1989 – 1992 Area Controller,
Lagos/Eastern branches
Owena Bank PLC 1992 – 1995 Head, Audit & Inspection
Fountain Trust Merchant Bank Ltd 1995 – 1999 Senior Manager, Audit
and Control Unit

PROFESSIONAL TRAINING AND EXPERIENCE

Acquired considerable experience in the following areas.

• Audit and Accountancy
• Tax Consultancy
• Audit of Computer based system
• Financial Management and Control
• Inspection/Internal Audit functions

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APPENDIX A3

SOME OF OUR CLIENTS INCLUDE:

GOVERNMENT PARASTATALS:

1. Nigerian Ports Authority
2. National Maritime Authority
3. Kaduna State Pilgrims Welfare Board, Kaduna
4. Library Board of Kaduna State
5. National Directorate of Employment, Niger State.
6. 3rd Joint Trade Fair of Niger, Kwara and Sokoto State
7. Durbar Hotels PLC
8. Niger State Publishing and Printing Company, Limited
9. Standards Organization of Nigeria

MULTILATERAL INSTITUTIONS FINANCED PROJECTS

10. Nigeria Ports Authority World Bank Project for infrastructure rehabilitation Loan
Number 2734 UNI.

11. World Bank Education Projects Implementation Unit for Technical Education.
12. Nigerian Television Authority – Development Communication Pilot Project IDA Credit

2481 UNI.

PRIVATE COMPANIES - MANUFACTURING:

13. Mustapha Pharmaceuticals Ltd, Minna
14. Orbit Foams Limited, Kaduna
15. Aris Laboratory Products Ltd., Kaduna
16. Buja-Link LImited, Kaduna
17. Muktar Foam Industries Ltd., kaduna
18. Aolat Nigeria Limited, Kaduna
19. General Foods & Sweets Manufacturing Limited
20. KayNoah Industries Limited

PRIVATE COMPANIES - CONSTRUCTION & PROPERTY DEVELOPMENT:

21. Techno Continental Eng. (Nig) Ltd, Minna
22. Niger North Limited, Minna
23. Haldsons Nigeria Limited, Kaduna
24. Netak Limited, Kaduna
25. Urban Shelter Limited, Lagos
26. Afims Properties Limited, Lagos
27. Adriatic Company (Nig.) Limited

PRIVATE COMPANIES - TRADING AND MERCHANDISE:

28. Rasraj Group, Kaduna
29. Idealux Trading Co. Limited, Kaduna
30. Colvi Limited, Kaduna
31. Haske Trading Co. Limited, Katsina
32. Khamec Pharmaceuticals Ltd., Funtua
33. Abuja Motors Limited, Kaduna
34. Tada Limited, Kaduna
35. Shelter Investment Limited, Lagos

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36. Henry Stephens & Sons Limited
37. Aranse-Olu Enterprises
38. Multilinks Communications Limited

PRIVATE COMPANIES - FINANCE & INSURANCE:

39. Frontline Finance Limited, Kaduna
40. Fes Investment Limited, Okenne
41. Investa Consultancy & Finance Services Limited, Kaduna.
42. Multi-Links Nigeria Limited, Lagos
43. Urban Shelter Savings & Loans Limited (Mortgage Bank), Lagos
44. Afims Limited, Lagos
45. Lohom Limited, Lagos
46. Ovidi Community Bank, Okenne
47. Yan-Samari Community Bank, Suleja
48. Whitesands Insurance Brokers

HOTELS AND TRAVELS:

49. Shiroro Hotel Limited, Minna
50. Express Airways (Nig) Limited, Kaduna
51. Intra Continental Travel Agency, Kaduna
52. Emwai Travels Limited, Kaduna
53. Kaduna Royal Motel Ltd.

EDUCATIONAL INSTITUTIONS, MEDICAL ETC:

54. Niger State College of Education, Minna
55. Al-Tabib Clinic, Kaduna
56. Amana Clinic, Kaduna
57. Khadija Medipharm Limited, Funtua

CONSULTANCY AND RECEIVERSHIPS:

58. St. Lukes Anglican Hospital, Wusasa
59. Mountain View Labesta Enterprises Ltd.
60. Ismail Ventures Limited
61. Muktar Foam Limited, Kaduna
62. Corporate Enterprenuers Limited
63. Therbow School, Zaria
64. Dutsinma Shema Industries Limited
65. Limani Nigeria Enterprises Limited
66. Yerwa Consolidated Industries Ltd.
67. National Commission for Colleges of Education
68. Nigerian Ports Authority - Tax Consultancy
69. Lagos State Board of Internal Revenue:

AGRO-ALLIED INDUSTRIES

70. Niger Resources Limited
71. Regal Quality Limited, Kaduna
72. Narlac Agric Enterprises Limited

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Tax Consultancy for Lagos State Board of Internal Revenue
for the following companies:

1. Mobil Producing Nig. Unlimited
2. NITEL PLC
3. Savannah Bank of Nigeria PLC
4. National Maritime Authority
5. Ashland Oil Company Limited
6. Chevron Nigeria Limited
7. Texaco Overseas Co. Nig. Ltd.
8. Pan Ocean Oil Corporation
9. ICON Nigeria Limited (Merchant Bankers)
10. Dovel Schlumberger Nig. Limited
11. Schlumberger Nigeria Limited
12. Federal Radio Corporation of Nigeria (FRCN)
13. Voice of Nigeria (VON)
14. Insight Communications Limited
15. Dubri Oil Nigeria Limited
16. Nigerian Engineering & Technical Company Limited (NETCO)
17. Hyson Nigeria Limited
18. Somolu Local Government
19. United Bank for Africa PLC (UBA)
20. Volkswagen of Nigeria Limited
21. Tax Consultancy for Ogun States
22. Faith Academy
23. Covenant University
24. African Glass Limited
25. African Fertilizer and Chemicals Limited
26. African Wire and Allied Industries Ltd.
27. African Refractory and Ceramic Co. Ltd.
28. African Foundaries Limited
29. Paras Energy and Natural Resources Development Ltd.
30. Guinness Nigeria Limited
31. Union Bank of Nigeria Plc.
32. Farmex Meyer Limited
33. Zenith Bank Plc.
34. Lucky Industrial Manufacturing Industries Ltd.
35. Nestle Nigeria Plc.
36. Lafarge Cement Wapco Nigeria Ltd. (Investigation)
37. Procter and Gamble Nigeria Ltd. (Investigation)
38. Federated Steel Mill Limited
39. Phoenix Steel Mill Ltd.
40. Veevee Paper Products Ltd.
41. Khusbu Waters Ltd.
42. Abvee Industries Ltd.
43. Lombardy Plastics Nigeria Ltd.
44. Lovleen Toys Industries
45. Alumax Industries Ltd.

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