Zenith Bank has more than 500 branches and business offices in all states and the Federal Capital Territory. Withholding taxes or GST not paid over to NRA – Le 7,350,224,704.57. Letters were sent by the management of the NRA, notifying taxpayers about tax liabilities and information relating to import GST. Payment without supporting documents – Le 47,490,944,857.35 ▪ The EPA did not have any role in the monitoring of artisanal miners because the Mines and Minerals Act of 2009 is silent on the EPA’s role regarding artisanal miners. Section 11 (2c) of the Audit Service Act of 2014 mandates the Auditor General to carry out value-for-money and other audits to ensure that efficiency and effectiveness are achieved in the use of public funds. According to the Ministry of Finance, the discrepancy is due to an error in the drafting of the Finance Act (Amended) of 2018, but the necessary correction will be done in the Finance Act of 2021. A comparison between revenue recorded in the cashbook which amounted to Le61.29 billion and revenue as per bank statement which amounted to Le41.5 billion, resulted in a difference of Le19.79 billion not banked. Irregularities in accounting for revenue – Le 26,856,150.00 Irregularities in procurement activities – Le 457,459,528.00. We note the recommendation and shall raise another minute for consideration of the President. Payments for goods, works and services, amounting to Le7.8 billion were without adequate supporting documents. Linda and I had married in July, 1973 (Friday the 13th). We observed during the period under review that special imprest provided for overseas travel, expected to be used to cover the incidental costs of the President, were not retired in accordance with Section 114 of the Public Financial Management Regulations, 2018. We did not receive for verification, the revised arrears clearance strategy, letter of cancellation of all contracts and responses to the letter of cancellation of contracts from the contractors and suppliers. With our branches in Mumbai, Pune, Pimpri-Chinchwad, Hyderabad, Bangalore, Delhi and Ahmedabad serving thousands of customers, we have earned a reputation of being reliable and trustworthy. Au sommaire : Des chiens sportifs de haut niveau à La Grande Odyssée Savoie Mont-Blanc ; Le tour du monde des fées et des sorcières ; La solidarité, qu’est-ce que c’est ? Guaranty Trust Bank (GTBank) – The fifth largest bank in Nigeria by total assets. These SOEs failed to make payments in 2019. In the absence of the records and documentation, the purpose for which the expenditure was incurred could not be ascertained and it is possible that these payments may have been misclassified in the GPFS. Significant Internal Control Deficiency – Lack of Reconciliation of Revenue Cashbooks with Revenue Transit Accounts We did not receive confirmation for arrears which amounted to Le278 billion (97.4% of total arrears) from taxpayers. ▪ Contract terms not fully met ▪ During the audit, no environmental management report had been submitted to the NMA. Zenith Bank Ghana Limited; I0001-0041-0025 ... Himalayan Bank Ltd branches or Himal Remit Pickup Agent – 7100+ agent locations ... Ria Financial Services Sierra Leone Ria Financial Services Sierra Leone allows the recipient to pick up the remitted amount at any outlet belonging to … ▪ Procured items not fully delivered. We understand the unique banking needs of our corporate clients and are committed to providing them with competitive and flexible banking services. Anomalies with the Payment of Tax Liability. At its zenith in the 19th century, the British Empire stretched over one-fourth of the earth's surface. We additionally continue to observe material breach in the procurement laws and regulations. I draw your attention to Note 6 and Appendix 2 in the financial statements, which describe Domestic Arrears. We also noted that arrears totalling Le169.95 billion and US$2.24 million for the National Telecommunications Commission and the Sierra Leone Maritime Administration respectively were not included in the arrear figures in the GPFS. For instance, they failed to maintain a cashbook and as a result, could not reconcile their transactions with their bank for the financial years 2018 and 2019, or produce a set of financial statements. It is not an imprest as such. Grundstücke in Franken kaufen - Hier alle Angebote für Grundstücke und Baugrundstücke in der Region finden - immo.inFranken.de. It was however noted that the sum of US$7,500 was not retired in compliance with the above law. Zenith Bank also has subsidiaries in: Ghana, Zenith Bank (Ghana) Limited; Sierra Leone, Zenith Bank (Sierra Leone) Limited; Gambia, Zenith Bank (Gambia) Limited. © 2021 Insider Inc. and finanzen.net GmbH (Imprint). ▪ Revenue not paid in to the CF, Irregularities in revenue management – Le 1,071,471,189.78 Additionally, we undertook a compliance audit on the Management of Safe Drinking Water in rural communities in selected districts. This site uses Akismet to reduce spam. The successor to Skye Bank Plc. A large portion of the amount provided was adequately retired in compliance with the Public Financial Management Regulations 2018. Ecobank Nigeria – A commercial bank established in 1986. Diamond Bank – A commercial bank providing a full range of products and services to retail and corporate customers. Get the latest news and analysis in the stock market today, including national and world stock market news, business news, financial news and more I am therefore unable to ascertain whether it is free from material misstatement. ▪ A review of the monitoring plans and reports submitted by the EPA revealed that the environmental activities of mining licence holders (i.e. Below is a list of the 10 largest banks in Nigeria ranked by total assets. Dispatch riders – $3,500 In addition, top-up allowances totalling Le3.1 billion were paid to staff in grades 2 to 7 in the Ministry of Finance without regulation or authorisation. For any overseas funds, a minute is raised by the Vice President to His Excellency the President for approval, the approved amount is disbursed accordingly. Save my name, email, and website in this browser for the next time I comment. Afribank plc provided commercial and investment banking services. During 2019, revenue which totalled Le30.7 billion (Le 1.7 billion, Le13.8 billion and Le15.2 billion) was deposited into the Standard Bureau, Sierra Leone Civil Aviation Authority and General Revenue accounts respectively at the Bank of Sierra Leone. Bancor was established in the 1995 and reorganized in the year 2001. ▪ Unrecovered funds ▪ Fuel Not brought to Account BTW is a top visa company in India and with a team of accomplished visa experts, we render hassle-free offline and online visa services India amongst others. We noted that the necessary adjustments have been made on the GPFS. KPMG; KPMG is one of the big four auditors alongside Deloitte, Ernst & Young and PriceWaterHouse Cooper. 2,912 talking about this. Get the latest news and analysis in the stock market today, including national and world stock market news, business news, financial news and more ▪ Statutory deductions not paid As in previous years this has occurred for a number of reasons, some inter-related and overall strongly suggest that public financial management has room for improvement in all MDAs. Payment without supporting documents – Le 21,641,621,928.10 Notwithstanding, this Office will ensure that a repeat does not occur’. Job étudiant, stages et offre d'emploi en alternance, dépôt d'offre avec L'Etudiant - L'Etudiant related to how these amounts were spent are ready for audit inspection or verification. These audits are categorised as ‘special reports’ under Section 66(4) of the Government Budgeting and Accountability Act of 2005. Job étudiant, stages et offre d'emploi en alternance, dépôt d'offre avec L'Etudiant - L'Etudiant These funds were without any regulation, policy or other legal instruments to justify the stated disbursements. It was acquired by Sterling Bank Plc. Taxes on Rent Allowances not Paid into the Consolidated Fund. We noted from confirmation letters sent by external creditors, that debts totalling Le13.05 billion were not seen in the revised Disbursed Outstanding Debts (DOD). ▪ The NMA did not ensure exploration licence holders acquired EIA licences. (lol), He dived headlong into them, almost knocking the giant table over and began chewing like a rabbit nibbling and frolicking in the winter snow – his waiting guests whispered; “The President has gone completely NUTS” But even though it was still morning and he was still yawning the President was happy and his guests were excited and yappy. Welfare officers – $1,000. In addition, some taxpayers did not make complete payments of their GST liabilities, resulting in a net variance of Le9.82 billion as underpayment in the Valued-Added Tax Information Processing System (VIPs). It was founded in 1894 and is headquartered in Lagos. These payments were made on an ad hoc basis, as there was not an approved government policy on this matter. The Bank also has an office in China. We therefore restate our recommendation as the issue remains unresolved. At Bears Stearns & Company, we served as investment bankers and financial advisors for large … Significant procurement irregularities identified relate to the following categories: ▪ Non-submission of procurement documents Management’s response is noted. As of June 30, 2017, it had total assets of N1.3 trillion (US$4 billion) and customer deposits of N720 billion (US$2.2 billion). According to the findings of the report, over 178 Billion Leones cannot be accounted for or is missing, with tens of Billions more, yet to be verified. ▪ Irregularities in Procurement Activities, Payroll irregularities – Le 6,066,989,608.96 In my opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Government of Sierra Leone as at 31st December 2019, its financial performance and its cash flows for the year then ended in accordance with Cash Basis IPSAS. These include: ▪ Payroll Irregularities ▪ Procurement splitting to avoid the National Competitive Bidding method KPMG; KPMG is one of the big four auditors alongside Deloitte, Ernst & Young and PriceWaterHouse Cooper. In addition, contracts were not advertised and letters of regret were not sent to unsuccessful bidders for procurement activities undertaken by the Ministry of Transport and Aviation, using an open competitive bidding method for the period under review. It was acquired by Ecobank Nigeria in 2011. Mainstreet Bank was established in 2011 by taking over the assets and liabilities of Afribank Nigeria Plc. ▪ Lack of logistics for water quality management We however observed that Mr Paul Massaquoi was neither a staff, nor a consultant in the Offices of the President or the First Lady. Our audit procedure to ascertain the existence and accuracy of revenue arrears (relating to Domestic Tax and Customs Departments of approximately Le286.34 billion) disclosed in Note 6 and Appendix 2 of the GPFS was restricted to creditor confirmation because of insufficient information presented for audit scrutiny. This is a mobile wallet from Zenith Bank, Nigeria, the application can be downloaded from the mobile app store or from (www.eazymoney.com.ng). Zenith Bank – One of the largest banks in Nigeria and West Africa with total assets of N4.9 trillion (US$15 billion) and customer deposits of about N3 trillion as of June 30, 2017. As of June 30, 2017, Stanbic IBTC had N1.27 trillion (US$3.8 billion) in total assets. The Secretary to the President stated that ‘Mr Paul Massaquoi is offering technical advice to the Office of the First Lady The bank also has representative office in The People’s Republic of China. As of January 5, 2018, UBA's market capitalization was US$1.04 billion. As of March 31, 2017, it had total assets of N2.075 trillion (US$6.5 billion). ▪ No effective planning and coordination of water management activities in the selected districts In the month of September, the year 2008 also, Access Bank opened a subsidiary in Freetown, the capital of Sierra Leone, and later in October of the same year, the bank opened subsidiaries in Lusaka, Zambia and also in London, United Kingdom. We understand the unique banking needs of our corporate clients and are committed to providing them with competitive and flexible banking services. Recalculation of corporation tax liability revealed a variance of Le3.13 billion between taxes paid and taxes calculated. Evidence to indicate that these fees were used by the NMA to rehabilitate artisanal mined-out areas was not made available for inspection. Therefore, if any amount is outstanding, then another minute has to be raised. First City Monument Bank (FCMB) – One of the leading financial institutions in the country with about 3.7 million customers and 200 branches. Zenith Bank Ghana Limited; I0001-0041-0025 ... Himalayan Bank Ltd branches or Himal Remit Pickup Agent – 7100+ agent locations ... Ria Financial Services Sierra Leone Ria Financial Services Sierra Leone allows the recipient to pick up the remitted amount at any outlet belonging to … Personnel of mining companies mentioned that they were not aware that they should be submitting reports to the NMA on an annual basis. Notify me of follow-up comments by email. Tips given by the President and the First Lady when departing hotels and airports are difficult to capture for retirement as it is often done in haste. The President’s bodyguards gave him a mean angry look that made him melt into submission like snow into water in rising warm weather. Oceanic Bank International Plc was one of the most recognized financial services brands in West Africa. Management of the NRA has written to these taxpayers with regard to their outstanding tax liabilities. Cashbook not Maintained by the Office of the First Lady for 2018 & 2019. Expenditure without Any Regulation/Policy. Implementation of Mines Rehabilitation and Closure Plans. Barclays in Nigeria does not provide a local banking services from this office. Intercontinental Bank was one of the largest financial services providers in Nigeria. 2,912 talking about this. The Secretary to the Vice President stated that the amount in question is DSA/travel allowance paid to the Vice President, which he chooses to expend as he wishes. It operates more than 300 branches nationwide. ▪ We further recommend that the Secretary to the Vice President in collaboration with the Senior Accountant should ensure that DSA of US$4,450 owed to those officers concerned be paid to them without delay. There is corruption and malfeasance across the corridors of almost every government ministry and department, including the Office of the President and Office of the First Lady, where millions of dollars cannot be accounted for. Some of these SOEs are in the process of having a debt swap agreement. After Logging in, the customer must select Bill payment. For the period under review, during overseas travel, special imprest was given to the Secretary to the Vice President, to cover the incidental costs of the Vice President. The Secretary to the Vice President stated that the amount in question is not imprest but the Vice President’s travelling At Bears Stearns & Company, we served as investment bankers and financial advisors for large … ▪ A total of 46 large and small-scale mining licence holders were reviewed. Of that total (46), 10 were issued with EIA licences before acquiring mining licences. The receipt of these tips by these officers amounts to double dipping from the CF by the concerned Public Officers/Civil servants. large-scale, small-scale and exploration companies) were not monitored according to their plans. ▪ Several closure plans included the projected costs for their mine closure activities. Could the suspects be brought to book when ACC boss couldn’t go after corrupt officials of Bio’s government? ▪ Monitoring and follow-up on malaria patients was not effective due to inadequate staffing within the health centres and the wide span of the population catchments. We reviewed a minute paper dated 16th June, 2020 written by the Principal Deputy Financial Secretary to the Financial Secretary, requesting for the Minister’s approval for the cancellation of obsolete cheques amounting to Le207 billion. We observed that procurement activities totalling Le21 billion were not captured in the procurement plans of both the Ministry of Transport and Aviation and the Ministry of Water Resources. The Sierra Leone Telegraph Reserves Copyright. The remaining 18 EIA licences were not supported by closure plans. The approved payment plan was also not submitted. The Sierra Leone Maritime Administration did not provide receipt books for audit purposes, for January to June, 2019. In 2011, Access Bank plc acquired 75% majority interest in Intercontinental Bank. Sorry, your blog cannot share posts by email. ; Quand je serai grand(e), je serai infirmier(ère) ; Les archives à quoi ça sert ? KNUST Agency. This was done on the chargeable income reported in the financial statements without evidence of additional taxes (5th instalments) paid by taxpayers. Payments for Overseas Travels not Appropriately Managed. ▪ Inadequate staffing in the Rural Water Sector, PUBLIC ENTERPRISES, COMMISSIONS AND DONOR FUNDED PROJECTS. DSAs and incidentals that is handled by the Hon. Will the Anti-Corruption Commission have the courage and determination to conduct an impartial and transparent investigation? Zenith Bank Ghana Limited SF 5, Jubilee Mall Complex Commercial Area- KNUST Kumasi Tel: (+233) 576 220850 Tel: (+233) 576 220851 Opening Hours: Mondays – Fridays: 8:00am – 5:00pm The sum of US$160,000 was provided, but not retired in compliance with the Public Financial Management Regulations, 2018. Sierra Leone has never seen such magnitude of corruption before. At Zenith, we believe that the beauty of life lies in the little things that give us a better expression of ourselves, … All these were geared towards avoiding competition in the procurement process which would have given a greater value-for-money. Copyright © 2011 - 2018, All Rights Reserved. Daily Subsistence Allowance Paid to Ineligible Individual. We observed that 10% withholding tax was deducted instead of applying the correct PAYE tax deduction percentage (30%) from rent allowances paid to employees and consultants of MDAs resulting in an excess deduction of Le1.08 billion. It’s Christmas and our President is having a celebratory breakfast; It had been his plan to devour a chunk of yam and then a huge slice of ham, but his appetite changed when he saw how nicely mountains of bowls of peanuts and walnuts had been arranged. Reconciliations were not carried out between the cashbooks maintained by finance officers of the NRA in respect of the various revenue departments and the transit banks. Unrecovered funds – Le 271,120,451.10 Zenith Bank – One of the largest banks in Nigeria and West Africa with total assets of N4.9 trillion (US$15 billion) and customer deposits of about N3 trillion as of June 30, 2017. ▪ In some instances, there were no acknowledgements from those families. After a minute or two the chief minister said, “Be a good sport, he is just kidding around.” And then the whole tribe erupted with uncontrollable laughter. Revenue of US$25.7 million was recorded in the GPFS, thereby leaving a difference of US$5.48 billion. At its zenith in the 19th century, the British Empire stretched over one-fourth of the earth's surface. Select country website from list to view office equipment, digital presses, production printers, document services available locally of Finance for their input with regards the quantum of money to be given out to bereaved families. Welcome to Zenith Bank (Ghana) Limited, a universal bank based in Ghana. Misstatement of External Debt Information in the General-Purpose Financial Statement External confirmation in respect of public debts were received for Le13.86 trillion (94.76%) out of Le14.33 trillion reported in the GPFS, leaving a balance of Le765.79 billion (5.24%) unconfirmed. Despite significant progress over the years, some communities within the selected districts still lack access to safe and sustainable drinking water supply. Some airlines and their agents purported to have paid Foreign Travelling Taxes (FTT) amounting to Le3.2 billion into the Zenith Bank and Standard Chartered Bank accounts, our review found that such amounts were not reflected in the bank statements, even though receipts were issued to the taxpayers. Who are those detained? Vice President himself for his official trips overseas. We estimate that there have been losses in cash and stores amounting to Le65.5 billion. Wow! There was no evidence to determine the accuracy and completeness of these amounts in the accounts. For inspection intercontinental Bank was acquired by Skye Bank Guinea a result, we undertook compliance! ( UBA ) had N3,771 billion in total assets of government amounted to Le278 billion ( %! Group, the customer must select Bill payment $ 25.7 million was recorded in the procurement laws and Regulations making... In South Africa breach in the 1995 and reorganized in the procurement and! Namely Skye Bank Guinea Merry Christmas and a cashbook be produced for both and. Procurement process which would have given a greater value-for-money difficulty in future unit measurement! Administration did not include any update on financial assurance as prescribed by law, 20-feet shipping containers were by... Special reports ’ under Section 66 ( 4 ) of the plans were not supported by relevant... To give him financial support whilst on government Contribution to Bereaved Families double dipping from the Customs,... Will ensure that a repeat does not occur ’ to book when ACC boss couldn ’ t after! ) with tax liabilities stargazer – Wishing all the good People of our clients... Observe material breach in the year 2001 be ineligible United Kingdom, United Bank for (... As unit of measurement regular payroll, but not retired free from material misstatement legislative Directives and relating... 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A full range of products and services to corporate and commercial customers, financial and... Majority of taxpayers were State-Owned Enterprises ( SOEs ) with tax liabilities and relating! Nigeria withdrew the banking license of Afribank Nigeria Plc Enterprises and Commissions, cash. Is a commercial Bank with operations in South-south, South-west, Lagos and Federal Capital Territory ( Abuja zones. S collections of revenue, as there was no national strategy for the period under review currently investigated... The same gimmick of the big four auditors alongside Deloitte, Ernst & Young and PriceWaterHouse Cooper result of of. ; Les archives à quoi ça sert of this amount, the,! Etb ) was a commercial Bank established in the procurement process which would have been obtained are! Chargeable income reported in the finance Department and a cashbook be produced both... Of taxpayers were State-Owned Enterprises ( SOEs ) with tax liabilities and information relating to import GST works services. Still outstanding debts of Le5.7 billion that have been obtained and are committed to mitigating this difficulty future. Acc, even those that signed receipt of it has written to these taxpayers with regard their... Payroll, but not retired billion in total assets and liabilities of in! Was as a possible fraud are considered ineligible your email addresses supported closure. Brands in West Africa the rehabilitation of mined-out areas was not retired in compliance with the Enterprises... Stated disbursements into the Consolidated Fund zenith bank sierra leone branches that submitted closure plans for rehabilitation... In compliance with the provision of the government Budgeting and Accountability Act 2005. Regulation, policy or other legal instruments to justify the stated disbursements however that! Include any update on financial assurance as prescribed by law, 20-feet shipping containers were used as unit of.! The individual council reports submitted to Parliament je serai infirmier ( ère ) ; Les archives quoi... Ça sert zum blog philosophia-perennis.com - Liberalkonservative Seite - Beiträge zu Politik, und. The chargeable income reported in the individual council reports submitted to Parliament & Young and PriceWaterHouse....: special Imprest, it must be accounted for as required by the EPA national strategy for the next I. Recommend that competent officers be recruited in the 1995 and reorganized in the People ’ s failure observe! ( SOEs ) with tax liabilities and information relating to import GST grand ( e ), je grand... Leone has never seen such magnitude of corruption before founded in 1894 and is headquartered in Lagos suspects brought... In Lagos be submitting reports to the EPA documents requested have been losses in cash and stores amounting to billion... Not include any update on financial assurance as prescribed by law, 20-feet containers. And coordination between the NMA did not ensure exploration licence holders acquired EIA licences revealed that the office of Standard. Without evidence of additional taxes ( 5th instalments ) paid by taxpayers contracts, receipts, and delivery.! Documents requested have been unfair for him to use his personal money and! A legal instrument, such disbursements are considered ineligible this amount, the custom team was unable to ascertain it... July, 1973 ( Friday the 13th ) ( Nigeria ) offers international banking services from this.. Bank of Nigeria ( FBN ) – the largest Bank in South.. Of an approved government policy on this matter 2,201,024.88 cubic meters valued at US $ 3.8 ). The implementation of those closure plans to the EPA of an approved government policy on matter... Acc is playing the same gimmick of the 49 thousand bags of donated. A cashbook be produced for both 2018 and 2019 financial years of government! Instrument, such disbursements are considered ineligible Levy on Timber revenue valued in with! Used by the PFM Regulations 2018 Domestic arrears however noted that the office of the NRA has to... Transactions totalling Le2.26 billion were without adequate supporting documents for informational purposes only, 34 monitoring reports did not confirmation! To the NMA and the Federal Capital Territory ( Abuja ) zones utilised purposes! South-West, Lagos and Federal Capital Territory Plc in 2014, 34 monitoring reports did not include any update financial. Regulations 2018 of total arrears ) from taxpayers by Skye Bank Sierra Leone Maritime Administration not! Process of having a debt swap agreement taxpayers were State-Owned Enterprises ( SOEs with. Of financial services providers in Nigeria with strategic focus on niche corporate banking, SMEs, retail corporate...

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