Projects

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  • Central Bank of Nigeria (CBN):

Gabe Fasoto & Co. was among the Audit Firms appointed by the Central Bank of Nigeria to carry out health check audit of the Community Banks in the’ 90s. The Firm successfully carried out the assignment with the allotted Community Banks. We were also shortlisted for the same assignment in year 2013 for Micro Finance Banks.

  • Federal Inland Revenue Service (FIRS):

The Firm is also a consultant to the FIRS, engaging in the audit of collecting Banks’ receipt and remittances of FIRS tax collection since 2012 till date. It successfully carried out the collections and remittances audit of the following organisations.

  1. Five-year audit of Withholding Tax (WHT),Value Added Tax( VAT) and Personal Income Tax (PIT)/PAYE of Power Holding Company of Nigeria, Abuja. -1st January 2008 to 30th November, 2012
  2. Audit of collecting Bank Receipts and Remittances undertaken by First Bank of Nigeria Plc : 1st January 2012 to 31st December, 2012
  3. Audit of collecting Bank Receipts and Remittances undertaken by Stanbic IBTC Bank Plc from 1st January, 2013 to 31st December, 2013
  4. Audit of collecting Bank Receipts and Remittances undertaken by Standard Chartered Bank Limited from 1st January 2013 to 30th August, 2013
  5. Audit of KLM Royal Dutch Airlines 1st January 2013 to 31st December, 2015
  6. Audit of Qatar Airlines 1st January 2013 to 31st December, 2015
  7. Audit of Promasidor Nigeria Ltd 1st January 2013 to 31st December, 2015
  • Lagos State Government:

Since 2005, the Firm has been serving as Consultant to the Lagos State Government and also as auditors to several of its establishments and local government’s councils. It has been involved in the monitoring and collection of the state’s tax revenue, an exercise that has assisted the Lagos State’s internally generated revenue (IGR) to increase from N4billion monthly in 1999 to about N25billion monthly currently.

We were assigned the following tasks and audits, among others:

  1. Tax Audit of PAYE, Withholding Taxes/Levies/Fees and other Revenue due to the Lagos State Government from the underlisted companies (the list is not exhaustive):
  2. LONGMAN Nigeria Plc (2008)
  3. Ibalex Nigeria Limited (2008)
  4. Premium Seafoods Limited (2008)
  5. HONDA Place (2008)
  6. Stallion Group (2008)
  7. Popular Foods Limited (2008)
  8. HYUNDAI Motors Nigeria Limited (2008)
  9. QINGQI Motorcycle Manufacturing Company Limited (2008)
  10. Connoiseur Investments Limited
  11. RORO Oceanic Shipping Services Limited (2009)
  12. Oceanic Fisheries Nigeria Limited (2008 & 2009)
  13. Pannel Kerr Foster (2009)
  14. Genesis Worldwide Shipping Limited (2009)
  15. KLM Royal Dutch Airlines (2010)
  16. Oyinholdings Limited (2010)
  17. UNIC Insurance Plc
  18. Airflow Engineering Works Limited (2011)
  19. ALPHA BETA Consulting Limited (2001 to 2011)
  20. Genesis Worldwide Shipping Limited (2011)
  21. Prestige Assurance Limited (2011)
  • Nigeria Social Insurance Trust Fund (NSITF)

We also served as consultants to the NSITF in 2014 and 2015 for monitoring and collection of contributions due to the Fund under the Employees’ Compensation Act 2010 covering the following sectors of the economy.

  1. Borno, Adamawa and Yobe States Government and their LGAs
  2. All Insurance And Allied Services Companies
  3. All Private Security Service Companies
  • UAC Group:

We are presently serving as Tax Consultants to the UAC Group handling and representing companies within the group on tax matters with the Federal Inland Revenue Service (FIRS). The companies represented include:

  1. UAC of Nigeria Plc
  2. UAC Foods Limited
  3. UAC Restaurants Limited
  4. MDS Logistics Plc
  5. GM Nigeria Limited
  6. UAC Registrars Limited
  7. Warm Spring Water Nigeria Limited
  8. Live Stock Feeds Plc
  • Chemical and Allied Products Plc (CAP)

We are also the retained Tax Consultant to Chemical and Allied Products Plc (CAP) and are responsible for the following:

  1. Tax compliance; and
  2. Tax Advisory Services
  • Forillon Transatlantic Limited:
  1. Statutory Audit
  2. Tax Consultancy
  • FABO Petroleum Limited
  1. Statutory Audit