Farinde, Olateju & Co. CHARTERED ACCOUNTANTS PROFILE FO&C

Farinde, Olateju & Co. CHARTERED ACCOUNTANTS PROFILE FO&C

CONTENTS Introduction Engagements Services Biographies Consultants & Advisers

INTRODUCTION Farinde Olateju & Co (FO&C) is pleased to present its Firm profile. FO&C is particularly well qualified to provide professional accounting, financial reporting and allied services: Audit. Accounts Preparation. Financial Forecasts & Projections. Taxation. Management Consultancy. Special Projects Including Investigation & Asset Valuation. FO&C Started on the 1st January,1968 as Joe Farinde & Co, in 1969 the practice name changed to Ekundayo, Farinde & Co which later changed to Farinde Ogunleye & Co in 1973 and Farinde Olateju & Co in 1991. It is fully Licensed to practice by the Institute of Chartered Accounts of Nigeria (ICAN) and registered with the Corporate Affairs Commission.

ENGAGEMENTS FO&C is a technically competent, experienced and exposed firm. It has an established track record. Details of Assignments handled include: National Electric Power Authority (NEPA) former Joint External Auditor Full Service Nation-wide Audit of Nigeria s Sole Electricity Provider. National Electric Power Authority (NEPA) Special Projects:- Reconciliation of Long outstanding unreconciled ledger balances for Kaduna and Ibadan Zones. Federal Forestry Research Institute, Ibadan Former External Auditors. Full Service audit and Reconciliation of Ledger Balances. Institute Of Personnel Management Of Nigeria. Former Reporting Accountants and External Auditors. Annual Audits and Accounts Preparation. Sahara Energy Resource Limited. Leading Indigenous Oil Trading and marketing company. Annual Audits, Corporate and personal Tax Computation. Liaison with tax and other relevant fiscal authorities. Special Projects including Reconciliation of Ledger balances, Fixed assets Register Compilation. Maths Metal Works Limited. Large scale manufacturers of metal kitchen and tableware products. Annual Audits, Corporate and personal Tax Computation. Liaison with tax and other relevant fiscal authorities. Grace Children/ High School. Accounts Preparation and Annual Audits, Liaison with Tax and other Relevant fiscal Authorities. Fixed Assets Register Verification detection services. Sahara Energy Field Limited Indigenous Upstream Petroleum Company Annual Audits, Corporate and Personal Tax Computation

ENGAGEMENTS (contd.) Associated Granite Industries (AGI) Limited. Aggregate Business. Excavation and crushing of Granite into chip stones and large blocks and sales and marketing thereof. External Auditors and Tax Consultants. Annual Audit, Corporate and Personal tax Computation and liaison with relevant tax and other fiscal authorities, financial projections and manpower planning, forensic accounting and fraud detection services. Legacy Realties Limited. Property Development and Consultancy Company. Annual audits, accounts preparation, Computation of Corporate tax and Liaison with tax authorities. Linetrale Gas Limited Marketers and Distributors of Liquefied Natural Gas. One of the five off-takers appointed by the Federal Government of Nigeria to market and distribute LNG to the domestic Nigerian Market. Annual Audits, Corporate and Personal Tax Computation Almasol (Nigeria) Limited Pioneering Local Water Drilling and Hydro Engineering Company Servicing the Upstream Petroleum Industry. External Auditors and Tax Consultants Annual audits, Accounts preparation, Computation of Corporate tax and Liaison with tax authorities. Review, audit & modification of internal control & financial recording systems Manpower planning. Linetrale Oil Trading and Supply Company Limited Indigenous Oil Trading and marketing company. Annual Audits, Corporate and personal Tax Computation. Liaison with tax and other relevant fiscal authorities. Gas Terminallng and Distribution Limited Indigenous Gas Terminal and storage company. Annual Audits, Corporate and Personal Tax Computation

ENGAGEMENTS (contd.) Nigeria Cleaning Service Limited Pioneer and largest Industrial and Domestic Contract Cleaners in Nigerian. Annual Audits, Corporate and personal Tax Computation. Liaison with tax and other relevant fiscal authorities. Tantalizers PLC Largest Indigenous Fast Food Restaurant Chain, Industrial and contract caterers.. Annual Audits & Tax Computations. SO Energy Limited Indigenous Oil Trading and Marketing company (Retail Business) Annual Audits, Corporate and Personal Tax Computation. Federal Ministry of Finance Budget Office of the Federation verification of Amounts owed by Federal Government of Nigeria to Local Contractors. Silver Drops Investment Ltd Fund Managers- Licensed Brokers and Capital Market Operators.. Annual Audits & Tax Computations. Sub-Consultants on: Verification and Labelling of Fixed Assets Assets of Unipetrol Plc (Now Oando Plc) Audit of Local Government Accounts in Lagos State 2003-2006 ( Obalende/Ikoyi and Iru/Victoria Island) Aviation, Air & Land Services Limited Importers and Marketers of Aviation fuel Annual Audits, Corporate and Personal Tax Computation. Mettle Energy & Gas Limited Indigenous Oil Trading and Shipping Company Annual Audits, Corporate and Personal Tax Computation. Manpower and Resource Planning. Paragon Investments Management Limited Fund Managers- Licensed Brokers and Capital Market Operators.. Annual Audits & Tax Computations.

SERVICES 1. Audits: We undertake the Statutory Audit of Companies registered with the Corporate Affairs Commission in line with the provision of the Companies and Allied Matters Decree and other relevant legislation. Audit work is always carried out in accordance with the Generally Accepted Auditing Standards issued by the Institute of Chartered Accountants of Nigeria (ICAN) and the International Federation of Accountants (IFA). We also undertake non-statutory audits in compliance with the procedures laid down for the special engagement. We also undertake Internal Audit Functions and Procedures. Client Types include Public and Private Limited Companies Government Corporate bodies Other Corporate bodies e.g.. Schools, Professional bodies etc. Partnerships, Sole Traders etc.

SERVICES (contd.) 2. Accountancy Services: The Auditor is first and foremost an Accountant. We offer impeccable Accounting services in accordance with the basic Accounting Principles and in strict compliance with the Statements of Standard Accounting Practice (SSAP). The Accounting services so rendered are taken as separate assignments and are independent of the audit of accounts of clients. Accountancy services include: Write-up of books,reconciliation of Bank and Cash Accounts. Classification and Analysis of items and posting into ledger accounts. Preparation of Financial Statements in accordance with SSAP. 3. Taxation Services: We act as Corporate and Personal Tax Consultants and Advisors in accordance with current tax legislation. Ascertaining, assessing and agreeing income tax computation. Processing and collection of Tax Clearance Certificate. Lodging of appeal against excessive assessment. Tax planning advisory services for tax efficiency. other related taxation services.

SERVICES (contd.) 4. Management Consultancy We undertake the following:- Design, Installation and Documentation of Accounting Systems. Review and Modification of existing Accounting systems. Manpower Planning, Development and Training. Recruitment of Staff. General Management Consultancy. Pre-Investment Feasibility Studies. Management and Resuscitation of ailing or on-going businesses. Balance Sheet Restructuring

SERVICES (contd.) 5. Special Projects We provide professional services as defined by and agreed with the client Fixed Asset Register Verification and Compilation. Investment Appraisals. Pre-Investment Investigations. Spot Checks. Company Valuation for sale of shares and debentures. Systems Control Evaluation. Insolvency - Receivership and liquidations. Fraud Detection and Control. Internal Control System Review and Modification. Reconciliation of outstanding and unreconciled balances. Special Investigation and Forensic accounting.

BIOGRAPHIES Management: The practice is managed by three Chartered Accountants; of fellowship status., Mr. J. B. Olateju, FCA, FCIT; and Mr. O. O. Obi - Farinde, B.Sc.,FCA, FCTI. & Ms Abimbola Ogunseitan, B.A, MSc, CPA, ACA Mr. J. B. Olateju, FCA, ACIS, ACTI: Mr. J.B. Olateju has at different times worked as a Clerical Officer and Executive Officer in the former Western State Civil Service, Accountant in the Federal Ministry of Finance and Senior Accountant in the Bursary of the University of Lagos before coming into practice in 1976. Mr. O. O. Obi-Farinde BSc. FCA. FCTI: Mr. O. O. Obi-Farinde joined the practice in 1992 as an Audit Manager, became a partner in 1997 and has since acquired considerable knowledge of the practice and is also very vast in the use of computers and accounting software. Ms Abimbola Ogunseitan (B.A, MSc, CPA, ACA) She brings to the firm more than 15 years experience in media, power generation oil and gas, Arthur Anderson (Nigeria) and Arthur Young (USA). She was also a Senior Special Assistant to the President on Budget Monitoring & Price Intelligence (Due Process Office) up to 29 th May, 2007. She is currently carrying out procurement review services for the World Bank and UNDP and also trying to develop the proposed Abuja Branch of the firm.

BIOS (contd.) Other Professional Staff Mr. F. Oluwadare, ACA, B.Sc studied at the University of Port Harcourt and Obtained B.Sc. (Accountancy). He has handled a wide variety of audits in the period spanning 3 years of being with the firm. Mr. M. A. Raji HND, attended the Kwara State Poly. where he obtained HND (Accountancy) in 1998. He has handled a wide variety of audits during the past years. He has been with the firm since June, 1991. Mr. R. Olaniyi, HND, attended Ondo State Polytechnic where he obtained HND (Accountancy) in 2003. He has handled a wide variety of audits during the last 11 years. He has been with the firm since October, 2007. Mr. O. Odunigba, HND, attended the Ondo State Poly. where he obtained HND (Accountancy) in year 2000. He has handled a wide variety of audits during the past years. He has been with the firm since June, 1994. These are ably supported by:- Mr. S. Ajidagba, ACA, B.Sc Accounts. Mr. W. Idowu, ACA, HND Accounts. Mr. E. Awosanmi, ACA, HND Accts Mr. J. Lambo, ACA, HND Accounts. Miss. A. Dada, ACA Mr. J. Adebisi, HND Accounts. Mr. S. Esirorie, HND Accounts, MBA Mr. A. Eboh, B.Sc Accounts. Mr. O. Adelani, HND Accounts. Mr. T.Adebajo, HND Accounts.

CONSULTANTS AND ADVISERS MR. FOLUSO OLATEJU Mr. F. Olateju is an Asset/Investment Manager. He previously worked in investment banking at BT Alex.Brown (Bankers Trust) International, London where he has had exposure to both the buy-side and sell-side of Privatization transactions. He holds a MSc. In Investment Management from City University Business School, London and a BSc. (Honours) in Economics from the University of Ife. He has been a consultant to FO&C since 1995. MRS. O.T OWOSENI-LAWAL A.C.A. MBA. Mrs. O.T Owoseni-Lawal Joined the practice in 1980 as an articled clerk. She was with the firm for a period of 10 years during which she acquired vast practical experience in accounting, audit and taxation. She qualified as a chartered Accountant in 1990, worked briefly for Price Waterhouse and then proceeded to set up a financial consulting firm. She is a consultant to FO&C rendering technical and professional service. MRS. J. O. LADEJO LLB, BL Mrs. J.O Ladejo, a Legal Practitioner and Company secretary, has been a consultant to FO&C since 1993. She is the company Secretary to a number of International and Local companies including the Schlumberger group. MR. FEMI FAJOLU FCA, FCTI Mr. Femi Fajolu joined the practice in January 2010 after working for 20 years at National Oil & Chemical Marketing Company (Now Con-Oil) and retired as the Head of Banking Operations, and 6 years as the Registrar/Chief Executive Officer of the Chartered Institute of Tax of Nigeria (CITN). He is vast in Financial & Taxation matters and has acquired a deep knowledge of the practice since joining in January 2010.

SCALE OF FEES For Professional assignments, the fees charged are based on the extent of work assessed to be done, the calibre of staff involved and the time spent on the assignments. It is pertinent to point out that fees charged, are for the professional services rendered to clients and do not include reimbursable expenses incurred in the process of carrying out the assignments. Examples of reimbursable expenses are:- Printing and Stationery Expenses, Cost of Transportation and Hotel Accommodation expenses where applicable etc.

CONTACT DETAILS Farinde Olateju & Co Chartered Accountants 52 Coker Road, Ilupeju Estate, Lagos State. Tel: 0709 812 1878, 0709 206 9554, 01-8114331,014706487 Email: info@farinde-olateju.com PARTNERS DETAILS Mr. Olateju J.Babajide 0803 582 2133 Email: j.olateju@farinde-olateju.com Mr. Obi-Farinde Olugbenga 08033013877, 01 790 8492. Email: gfarinde@farinde-olateju.com