CORPORATE PROFILE - Ripe Age Consultants · CORPORATE PROFILE OF RIPE AGE CONSULTANTS 20, Oweh...

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RIPE AGE CONSULTANTS (Financial Advisory Services, Tax Consultants and Management Services)

CORPORATE HEAD OFFICE:

20 Oweh Street, Opposite St. Stephen Cahteral Church, Ground Floor, Back Wing, Yaba, Lagos. Apapa Road, Ebute-Metta, (West), Lagos Tel: +234 80-612-13870, 8077213154 E-mail: [email protected] ,

CORPORATE PROFILE

mailto:[email protected]


CORPORATE PROFILE

OF

RIPE AGE CONSULTANTS 20, Oweh Street, Opposite St. Stephen Cathedral Church,

Ground Floor, Back wing,

Yaba-Lagos

Tel: +23480-612-13870,

E-mail: [email protected]

“Providing Premium Advisory Solution”

mailto:[email protected]


TABLE OF CONTENT

PAGE(S)

1.0 Our History 3

2.0 Who we are 6

3.0 Our Experience and Capacity 18

4.0 Staff Profile and Compliment 21

5.0 Staff Strength 24

6.0 Our Strategies and Methodologies 25

Billings 26

Schedule of Selected Client Portfolio 27


1. RIEP AGE CONSULTANTS

OUR HISTORY:

Ripe Age Consultants is an indigenous professional consultancy firm that

has shown tremendous growth in the country and has continued to build

clientele base across different sector/industry in Nigeria. We have rendered

multi-disciplinary services in the areas of Audit, Taxation, Accountancy,

Investigation, debt recovery and General Financial and Management

Consultancy, Human Resources Management and Secretarial Services, Project

Finance, Forensic Services and Business Planning to our numerous but

selected numbers of clients both in the public Sector Organizations and

private sector, particularly Small Medium Enterprises (SME).

Ripe Age Consultants aims to facilitate ‘client lead’ strategic development

initiatives in creating a learning organization. We advocate a ‘transformation

process’ in empowering organizations and individuals within them to react,

adept and manage emerging opportunities and threats to their future

viability.

We know each organization is unique and the challenges they face are equally

different, however we will endeavour to collaborate with our clients in

engaging the hearts and minds of their people in a coherent way and to

channel their energy (inputs) into meeting business and corporate objectives.

We work with our clients in striving towards and meeting their short,

medium and long term goals by facilitating and/or managing the following

aspects of their organizational life.


OUR PHILOSOPHY, CULTURE AND CORE VALUES:

Our focus is to improve our clients’ business performance through the

application of strategic management philosophy, work methodology and

approach to the enterprise planning process. This methodology recognizes

the four key components of the strategic management process.

The Customer/Client

The Employee

The way we work

The Environment

Having regard to the above, our philosophy is anchored on the following

principles:

Empathy with our clients

Discharge of our duties with utmost

professionalism

Undiluted integrity

Excellent service delivery and

Team building

Through a detailed analysis of customer, employee and work process, a

management strategy is derived, which systematically mould the

organization towards continuous improvement in its approach to serve.

In the main, our role is to give support in the determination of the

organizations strategic management process. This places the organization in

a position to self-manage change as on-going needs in the general operating

business environment.

Our exposure and knowledge in Accountancy, Auditing and General

Consultancy assignments has prepared us with the requirements needed for

any job which revolves around:

Sound and Functional analytical techniques


Intimate knowledge of operational structure of

public and private enterprises in Nigeria.

Expertise in Business reviews and

documentation

General understanding of private and public

sector accounting and

Desiring manifested interest in detailed

research and investigation.

We have, consequently, over the years, built a strong virile and formidable

team of highflying qualified and experienced professionals; that possess the

requisite competences for any engagement. In addition, we are willing to be

a partner in the urgent need to revitalize all our key and preferred sectors of

the Nigerian economy that are due for complete re-engineering to ensure

better operation and viability. Nevertheless, it is our philosophy to

encourage sharing and transfer of knowledge that will impact positively on

the overall growth of any of our clients. All of these are focused on effective

and efficient performance on their part with the ultimate consequence of

improved bottom line.


2.0 WHO WE ARE

2.1 OUR BUSINESS:

RIPE AGE Consultants is one of the few indigenous professional consultancy

firms that has shown tremendous growth in the country and has built clients

within and outside Nigeria. We have rendered multi-disciplinary services in

the areas of Audit, Taxation, Accountancy, Investigation and General

Financial and Management Consultancy, Information Technology and

Human Resources Consulting, Project Finance and Litigation Services to

our numerous but selected numbers of clients both in the public and private

sectors.

ORGANIZATION AND STAFFING

Our Core Staff is made up of professionals in different disciplines who are

reasonably competent and experienced. They are supported by a group of

young professionally Qualified Accountants, Consultants, Engineers,

Information Technologists and associates to form a credible team with a

mission to deliver first class services.

Furthermore, our technical team comprises members with diverse

experience across a wide range of industrial and public sector with their

respective in-depth knowledge and experience in the following specialized

areas:

Research and Economic Analysis

System design and financial analysis

Loan Recovery and Enterprise restructuring

Debt review analysis

Credit appraisal analysis

The general framework and operational

structure of private and public enterprises

Policy documentation and analysis


Restructuring of Balance Sheet

Legal documentation and review, and

Accounting advisory services.

SUMMARY OF CORE PROFESSIONALS IN OUR TEAM

S/N NAMES QUALIFICATION YEARS OF

EXPERIENCE

1. Abiodun Taiwo B.Sc, ACIT, FCA 16

2. Saheed lasisi (Alhaji) B.Sc, Msc, FCA 13

3. Olugbenga Banjoko B.Sc, ACA 10

4. Ayodeji Babatunde B.Sc, MBA, CIP, 10

5. Ajibola Sunday Oyekunjo HND, ACA 8

6. Korede Ajadi B.SC, ACCA 8

7. Emeka Eneya B.SC 5

8. Oluwafemi Thompson HND, 5


2.2 OUR SERVICE:

Specifically, RIPE AGE Consultants, as a firm of Management Consultants,

provides a wide range of Services, the significant highlight of which are as

follows:

Taxation – PPT, CIT, PIT, CGT etc


ACCOUNTING AND BUSINESS ADVISORY SERVICES

Our firm has developed Accounting Systems manuals that specifically focus

on efficiency, internal controls and safeguard of assets in the following areas:

Set up and maintenance of all business

transaction records

Fixed asset management

Inventory Management

Staff recruitment and Payroll management

Budgeting and budgetary controls

Products, services and contract costing

Procurement and set-up of Accounting

softwares/packages

We have developed quite a number of comprehensive financial, economic

and strategic advice to companies with difficult business challenges and

disputes. Our Business advisory services focus principally on high quality and

strategic advice to investors and service providers and related financial

intermediaries within and outside our geographical location.

SPECIAL AND FINANCIAL ADVISORY SERVICES

We have provided wide range of special and financial advisory services to

our numerous clients nationwide in the following areas.

Acting as Reporting Accountants on Capital

Issues.

Receiverships, Liquidations and Bankruptcy.

Preparation of Financial Forecasts, budgets, cash

flow statements and other financial statements

that may be required by Issuing Houses,

Underwriters, Bankers and other Financial

Houses.


Our services in this category include public offer Advisory service;

privatization and commercialization proceeding; transactions support and

investment appraisal; valuation of assets and properties; shareholders value

and financial structure reviews.

MANAGEMENT CONSULTANCY SERVICES

Our consultancy services includes the following packages;

Staff Development and Training,

Business Finance and Joint Ventures

Debt Recovery and Management

Ventures Capital

Cross-Debt Management

Company Re-organization and Restructuring

Due Diligence Survey and Evaluation

Project Supervision, Evaluation and Milestone attainment review

Procurement of Pioneer Status for applicable business class

Our Management Consultancy practice is practical oriented as it has helped

so many clients to effectively maximize their business integrated solutions

and performance through a highly developed strategic change and process

management.

PUBLIC REVENUE AND TAX ADMINISTRATION

Accelerated Revenue Generation Programme (ARGP) for States Revenue and

Tax Administration. This computer based revolutionary programme covers

the whole range of Public Revenue and Tax Administration, including:

Computer Aided Enumeration of Tax Payers.

Production of Comprehensive Computerized

Master Register of Tax Payers covering

individuals, businesses, corporate organizations,

land holdings, properties, etc.


Direct Bank Lodgement System (DBLS)

Review of Tax Rates

Identification of New Taxes and Tax Sources

(Expansions of Tax Base)

Statutory Tax Audit, Monitoring, Verification and

Enforcement of Collection.

Designing Organization Structure for Tax

Administration.

Computerization of all the accounting and

information systems required for efficient and

effective Tax Assessment, Review, Verification,

Monitoring and Collection.

Staff Training in all the foregoing aspects of Tax

Administration.

Advising on the infrastructural and logistic

requirements (including the Review of Relevant

Laws) for effective Tax Administration.

Organizing Seminars for individual and corporate

Tax Payers on all aspects of Tax Systems in

operation and their role in effective

implementation.

Our ARGP covers all classes of Tax and Public

Revenue including the following:

o Personal Income Tax/PAYE

o Corporate Income Tax

o Value Added Tax (VAT)

o Petroleum Profit Tax

o Education Tax


o Withholding Tax

o Capital Gains Tax

o Land & Property Tax

o Business Premises Registration Fees

o Ministerial Revenue, Fees, Fines, Rates etc

o Motor Vehicle Registration Fees and Fines

o Local Government Revenue

Over the years, we have developed highly effective strategies and methods

for optimizing taxes, executing innovative tax planning to ensure consistent

compliance.

FEASIBILITY STUDIES, REPORT AND SECRETARIAL SERVICES

These services include:

Incorporation of new companies and

registration of business names

Arranging board and general meetings.

Writing up the statutory books such as the

Register of Members, directors, etc.

Replacement of Certified true Copy of CAC

documents: Certificate of Registration/

Incorporation. CAC2, 4, 7, MEMAT etc

Alteration/amendment of Memorandum and

Articles of Association.

Filing appropriate documents, returns, notice .


With our track record and experience in industry and commerce, marine and

aviation industries, we provide feasibility studies for new and or existing

projects. Our responsibility will include initiating exhaustive operational

research (OR), market surveys and resource planning together with realistic

projected results, with a view to ensuring the economic, technical and

financial viability of the project.

TAX MANAGEMENT:

In view of our track record and proven experience in tax management, we

help to deliver maximum benefit in tax planning and management ensuring

compliance within the extent laws and regulation. We are well positioned to

provide first class tax consultancy services in the following areas:

Procurement of TIN, VAT Certificate and Income

Tax Clearance Certificate (ITCC)

PAYE (Pay As You Earn)

Petroleum Profit Tax (PPT)

Rendition and remittance of Tax deductions

Filling of Month and Annual Tax returns

Tax compliance review

Representation at Tax Audit Reconciliation

Meeting @ State and federal levels

Attending to queries and other matters of

enquiries by Tax Authorities


2.3 OUR INDUSTRY RELEVANCE AND METHODS

Our capacity in terms of job executions and implementations has been

wonderful since inception. In conjunction with our subsidiaries, we have

worked in partnership with our clients to produce distinctive results. Our

methods as a team player with different specialized areas have helped

tremendously to harness our industrial knowledge to appropriately solve

some complex business problems to our numerous client all over the country.

We have excellent culture of packaging various products and services to suit

the increasing complex manpower needs of public institutions, government

agencies and parastatals and other private corporate clients in today’s

competitive market.

We listen to and understand client’s corporate needs and develop strategies

that will help them to excel. We are client-oriented organization and our

methods and approach to business is client specific.

RIPE AGE Consultants has a philosophy that is centered around excellence,

quality, creativity which equally revolves around our people (we go for the

best brain in the market), environment (very neat, organized and orderly)

atmosphere (warm, cordial and friendly). We have the philosophy of being

the best to our clients who are treated equally with sincere compassion;

heartfelt interest and decent accord which ultimately reflect in our posture,

pleasant and enthusiastic attitude. At RIPE AGE Consultants, we see

ourselves as highly organized in providing excellent client service, surpassing

client expectation and maintaining client loyalty and enthusiasm.


3. OUR EXPERIENCE AND CAPACITY

3.1 BACKGROUND

RIPE AGE Consultants and its involvement with Governments and

government agencies within Nigeria has given us a thorough practical

exposure in public sector and parastatal accounting. Quite apart from that,

we are also operating an industrial oriented structure with professional team

focusing on specific sectors of the economy ranging from oil and gas, financial

services, government, construction/estate development, hospitality and

industrial products sectors.

There is no doubt; the considerable experience we have gained has

positioned us in a unique way to execute any engagements from

governments, parastatals and private organizations.

We would highlight below our key experience in our various past

engagements that are relevant to these sectors (see Appendix B).

3.2 GENERAL ACCOUNTING, FINANCIAL AUDIT AND CONSULTING RESTRUCTURING

We have developed and provided a broad range of experience on the general

accounting and financial re-engineering to the key sector of the economy.

PETROLEUM (SPECIAL TRUST) FUND:

Financial Audit and Accounting – Nigeria. Our firm was engaged to assist in

the compilation of financial information required for the purpose of the audit

of the Fund’s Financial Statements for the period of 1999 financial year and

to audit the Fund. This assignment involved the general audit of:

Reconciled bank project and creditors accounts, and

Verified income, expenditure, assets and liabilities

of the Fund.


3.3 EXPERIENCE IN PUBLIC SECTOR FINANCING AND BALANCE SHEET

RESTRUCTURING

Our unique experience covers a wide range of public sector. We have been

actively involved in engagements performed for key government parastatals,

and private sector organizations, also our knowledge of international

engagement has enlarged our capacity for variety of engagements over the

years.

We have also helped few of those public institutions in some highly intensive

research and information gathering in order to assist them in obtaining an

up-to-date documentation and perspective of the type and value of credit

obtained by parastatals, together with its balance sheet implications. Our

engagement with them also involved asset valuation of the bank from the

selected sample, review of credit files and other available information aimed

at compiling key information such as current financial position, historical

debt service, terms of loan agreements; geographical location of the creditors

and post security value.

3.4 EXPERIENCE ON PRIVATIZATION AND PARASTATALS REFORM SERVICES

Successful implementation of privatization and parastatals reform require

outstanding and unique objectives and steps to achieve them. Our

involvement in many privatization and parastatals reform programme of

government has helped them to achieve their objectives more than ever.

Specifically, our privatization and parastatals reform services include:

Auditing (both statutory and special)

Reporting accountant

Public enterprise debt restructuring

Due diligence report to parastatals

Preparation of enterprises for privatization

Strategy and development


Valuation and Pricing

Developing the legal structure and framework

Debt verification and resolution

However, for any assignment requiring specialist skills, which are not

available in our specific services, it can be resourced from one of the

integrated partners in the profession who are ready at anytime to offer their

own professional support.

REPORTING ACCOUNTANTS TO BANKS AT THE CAPITAL MARKET

Our in-depth knowledge of Accountancy, Auditing and Due Diligence was put

to display when we successfully served as Reporting Accountants to some

banks going to the Capital Market to source for funds.


4. STAFF PROFILE AND COMPLIMENT

MANAGING CONSULTANT: MR. TAIWO ABIODUN, B/Sc ACIT FCA,

The Managing Consultant of the firm, Mr. Taiwo Abiodun is a Chartered

Accountant with over 20 years experience as Auditor and Consultant to a

number of major companies in the country and abroad.

Mr. Taiwo holds a B.Sc. (Hons.) in Accounting from University of Lagos and

currently winding up his Masters in Accounting Programme in same

institution. As a Managing Consultant in the firm, he had overseen a wide

range of engagements involving our clients, both in public and private sector.

His experience on the job has broadened his capacity to execute any form of

audit assignment.

Mr. Taiwo is a Fellow of the Institute of Chartered Accountants of Nigeria

(ICAN) and the Chartered Institute of Taxation of Nigeria (ACTI) He has

attended various workshops and seminars on Audit Practice and Taxation.

BANJOKO GBENGA O. B,Sc., ACA

Mr. Banjoko Gbenga is an Audit Manager of the Firm. He holds a B.Sc in

Accountancy from University of Lagos. As a Manager in the firm, he had led

several audit teams to a wide range of engagements involving our clients,

both in public and private sector. His experience on the job has broadened his

capacity to execute any form of audit assignment.

Mr. Banjoko is an Associate Member of the Institute of Chartered

Accountants of Nigeria (ACA). He has attended various workshops and

seminars on Audit Practice and Management


MR. AYODEJI BABATUNDE, B.SC., MBA, CIPM

Mr. Ayodeji is the Principal Consultant in our Financial and Management

Consultancy arm of our firm. A professional banker of over a decade

experience growing from the ranks up to the Senior Management Level

before quitting the industry.

He has attended numerous banking and management related courses both

within and outside Nigeria.

AJIBOLA SUNDAY.O, HND, ACA

Mr. Ajibola Sunday Oyekunjo is a Senior Audit Manager of the Firm. He

holds an HND in Accountancy and Finance from Yaba College of

Technology. As a Manager in the firm, he had led several audit teams to a

wide range of engagements involving our clients, both in public and private

sector. His experience on the job has broadened his capacity to execute any

form of audit assignment.

Mr. Ajibola is an Associate Member of the Institute of Chartered Accountants

of Nigeria (ACA) and a Member, Nigeria Institute of Management (NIM). He

has attended various workshops and seminars on Audit Practice and

Management

KOREDE AJADE, B.Sc, ACA

Mr. Korede Ajadiis an Audit Senior in the Tax Department of the Firm. He

holds a B.Sc. (Accounting) from Madonna University. His wide experience

in Tax Administration System has been of immense value to the firm,

particularly as it relates to handling of tax matters affecting our numerous

clients. He had led several Tax teams to a wide range of engagements

involving our clients, both in public and private sector. Her experience on the

job has broadened his horizon.


Korede Ajadiis an Associate Member (ACA), Institute of Chartered

Accountants of Nigeria.She has attended several workshops and seminars on

Audit Practice and Tax Management.

THOMPSON OLUWAFEMI, HND

Thompson Oluwafemiheads the Information Technology unit of firm. he

holds an HND in (Statistics) from Olabisi Onabanjo University and a

Diploma in Computer Appreciation. His experience on the job has broadened

her scope.

He has attended several workshops and seminars on IT appreciation

including Office Ethics and Management.


5. STAFF STRENGTH

Over the years, our firm has grown tremendously from a relatively unknown

entity to a medium size and well respected outfit in the highly competitive

financial industry in Nigeria and the sub-sahara Africa essentially owing to

the quality of our personnel in terms of qualification, experience, exposure

and human capacity development which we provide them on a continuous

basis.

At the moment, our staff strength comprises of qualified Accountants, with all

others parading at least first degree in relevant areas of our business.

This has in no small measure, contributed to the high quality of service

offered by our firm and consequently the unprecedented growth in our

business relationships as exemplified in the array of our past and present

clientele base indicated elsewhere in this profile.


6. OUR STRATEGIES AND METHODOLOGIES

Our methodology is largely based on our strong practical knowledge of

general accounting procedures and application in the public and private

sector. We evolve a process that takes into cognizance the following number

of variables that we consider crucial to the sustainability and overall success

of our assignment.

Equity Holder Participation:

All the key equity holders and other relevant

sector players in any of our engagement are

required to be actively involved in the

preliminary working with the firm to ensure that

relevant information inputs are obtained.

Data Collection Support:

Since timely availability of qualitative data is

essential to the final outcome of Accounting and

Management Consultancy Project, it is expected,

therefore, that data collection support is required

from the appropriate authority.

Other steps that our methodology will focus are:

(i) In our established 3 stage approach to our

engagement, we shall provide technical advisory

support to the constituted committee to ascertain

effective decisions of its meetings. The support

which could be professional advice on economic,

financial, legal and technological which will in

turn assist the organization in its preparation

and presentation with equity holders.

(ii) With the aid of Information Technology, we

would check the various outstanding schedules of

investment to which most of their proceeds would

be utilized and to ensure that those investments


are economically viable to recoup the funds

invested.

(iii) Compile a master file containing details of their

previous outstanding financial obligations to

several business creditors.

(iv) Compile staff nominal role and conduct skills

audit with a view to determining:

Staff adequacy

Skill profile

Training needs

Gaps in employees skills

(v) Design training programme for all technical

areas such as Credit Management, Accounting

Reconciliation, Project Appraisal, Information

Technology Fraud prevention and detection to

mention but few of them.

BILLINGS

Our Professional Fee estimates are based on the complexity and Scope of

assignments and accordingly on the skill and experience of staff involved.


SCHEDULE OF SELECTED CLIENT PORTFOLIO

CLIENT NAME BUSINESS SECTION NATURE OF SERVICES

RENDERED

1 MARION ON NICON

INTERNATIONAL HOTEL

Hospitality Internal control, Tax

Consultancy, Financial Advisory

Services, Tax

Consultancy

2 LAGOS STATE UNIVERSITY

TEACHING HOSPITAL(LUTH)

Healthcare- Hospital External audit, Tax Consultancy

3 ENERGY RESOURCES

LIMITED

Oil and Gas Financial Advisory Services/ Tax

Consultancy

4 WALTERSMITH

PETROCHEMICAL LIMITED

Oil and Gas Financial Advisory Services/Tax

Consultancy

5 MOTOR PARTS INDUSTRY

LTD

Manufacturing & Technical

Services

Consultancy/Audit/Tax

6 TENISALAM NIGERIA LIMITED Steel Production Internal Control, Tax

Consultancy

7 DE-VIVID SWISS PRODUCTS Textile Industry Financial Advisory Services

8 PURIO NIGERIA LIMITED Polytine Production Internal Control, Tax

Consultancy, Business

Restructuring

9 STANDARDS ORGANIZATION

OF NIGERIA (SON)

Standard Regulatory Agency Management

Services/Consultancy,

10 SARVIL LIMITED Beverages Internal Control, Financial

Consultancy, Business

Restructuring

11 YELOW TOPAZ Textile Industry Internal Control, Financial

Advisory Services

12 SANGUINE OIL AND GAS

LIMITED

Oil and Gas Forensic Audit Investigation

13 KAYODE BELLO FRMS Agriculture Forensic Audit

14 WAWE CARWASH Car wash Business Incubation, Financial

Advisory Services

15 VGLAMOUR CREATIONS Photography Business Incubation, Financial

Advisory Services

16 BEST DECORRATION Event Management Business Incubation, Financial

Advisory Services

17. JANAT ENERPRISE Catering Secretarial, Tax Consultanct

18. COLD STONE SYNERGY Entertainment/Club Business Incubation, Business

Advisory Services

19 GOLDMINE NIG LTD Event Mgt/ Catering Service Internal Control and Advisory

Services

20 DCLEAN MULTIPURPOSE &

LAUNDRY

Laundry, Dry cleaning Business Finance, Internal

Audit, Consultancy

21 JAMAT CONCEPTS Tax and Accountancy Services

22 INSIGNIA NIG LIMITED Education Secretarial/Business Advisory

23 VIC SQUARE CREATION Land Logistic Solutions Secretarial,

24 A3 SOLUTIONS LIMITED HR Consultancy Secretarial, Tax and Accountancy


26 ENNYMARK CONCEPTS Event Mgt/Catering Services Secretarial Services

27 ELOWITZ CONCEPTS Textile Secretarial Services

28 LAVENDER MOON BEAM Logistic Solutions Secretarial/Business Advisory

Services

29 LADY B STORE Retail Distribution Forensic, Business Advisory

30 LOT 4 LESS Retail Store Secretarial, Tax and Accountancy

31 KIDS HAPITATS PRIVATE

SCHOOL

Education Secretarial, Tax and Accountancy

32 LAKEZEE CREATIVE WORLD Fashion Designs Secretarial, Accountancy

33 ENERGY 8 LIMITED Oil & Gas Secretarial, Tax and Accountancy

34 LASU Community Bank Banking Consultancy, Recruitment and

Human Capacity Development

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