lagos state commercial agriculture development...
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PKF Accountants & business advisers
LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECT
(INTERNATIONAL DEVELOPMENT ASSOCIATION IDA CREDIT NO. 45390)
FINANCIAL STATEMENTS 31 DECEMBER 2015
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LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECT (INTERNATIONAL DEVELOPMENT ASSOCIATION CREDIT NO. 45390)
Contents
Corporate information
Report of the independent auditors
Statement of significant accounting policies
Balance sheet
Receipts and payments accounts
Notes to the accounts
Annexure
Statement of special account- Naira
Statement of special account- US dollar
Statement of draw down
Statement of reconciliation of drawdown
Fixed assets schedule
Pages
2
3
4
5
6
ii
iii
iv
v
LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECT (INTERNATIONAL DEVELOPMENT ASSOCIATION CREDIT NO. 45390)
Corporate information
The project
The project seeks to strengthen agricultural production systems and facilitate access to market for small and medium scale commercial farmers engaged in targeted value chains, (aquaculture, rice and poultry) among small and medium scale commercial farmers in Lagos State.
The project has three major components, namely:
./ Agricultural production and commercialization
./ Improvement in rural infrastructure (road and energy)
./ Project management, monitoring and evaluation
Project Implementation Unit (PIU)
The project Implementation Unit remains the organ that carries out the day-to-day execution of Lagos State Commercial Agric Development Project.
The Project Implementation Unit (PIU) has a state Project Coordinator and other key staff as detailed below:
State Project Coordinator Mr. Kehinde Ogunyinka
Agric productivity and Advisory Service Officer - Mr. Afolabi Victor
Procurement Officer Mr. Fatai I. Onafowote
Monitoring and Evaluation Officer Mr. Babatunde Y. Yunusa
Communication & Business Dev. Officer Mrs. Aramide L. Gansallo
Rural Infrastructure Officer Engr. Aliru A. Alade
Communication Officer Mrs. Folake Ogunlana-Lawal
Environment Officer Mr. Olawale Oke
Training Officer Mrs. lsekhure Adedoyin
Projects' Financial Management Unit (PFMU)
The Projects' financial management unit is the organ that is responsible for accounting records, internal controls, internal audit and assistance for external audit work.
The key members of the project financial management unit are:
Head PFMU Mrs. Moriliat M. Ganiyu
Project Accountant Mrs. Latifat 0 . Oyede
Asst. Project Accountant Mr. Toyeeb A. Kareem
Project Finance Officer Mrs. B. B. Adebayo-Buhari
Internal Auditor Mrs. Abdul T. Olufunke
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LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECT (INTERNATIONAL DEVELOPMENT ASSOCIATION CREDIT NO. 45390)
Banker:
Auditors:
Legal advisers:
Co-financier:
Accounting reference date:
Fidelity Bank Pic
PKF Professional Services 205a lkorodu Road, Obanikoro Lagos, Nigeria P. 0 . Box 2047 Marina Tel: 01- 7734940 Website: www.pkf-ng.com
Lagos State Ministry of Justice, Block 2, State Secretariat, Alausa, lkeja Lagos State, Nigeria.
The International Bank for Reconstruction & Development (The World Bank) International Development Association 1818 H Street, N.W. Washington DC 20433, U.S.A .
31st December 2015
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PKF Professional Services
REPORT OF THE INDEPENDENT AUDITORS
LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECT (INTERNATIONAL DEVELOPMENT ASSOCIATION CREDIT NO. 45390)
PKF Accountants & business advisers
We have audited the accompanying financial statements of the Lagos State Commercial Agriculture Development Project (LSCADP) set out on pages 3 to 9, which comprise the balance sheet as at 31 December 2015, the income statement, summary of significant accounting policies and other explanatory information. The project is financed by IDA Credit number 45390.
Project Managers' Responsibility for the Financial Statements The Project Managers are responsible for the preparation and fair presentation of these Financial Statements in accordance with the Loan Agreement, IDA Credit Number 45390 and for such internal control as the managers determines are necessary to enable the preparation of financial statements that are free from material misstatement whether due to fraud or error.
Auditors' Responsibility Our responsibility as auditors is to express an opinion on the project financial statements based on our audit. We conducted our audit in accordance with the Nigerian and International Standards on Auditing and World Bank guidelines. Those standards and guidelines require that we comply with ethical requirements, plan and perform the audit to obtain reasonable assurance that the financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessment, the auditors consider internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Project Managers, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion In our opinion, the financial statements give a true and fair view of the financial position for the year ended 31 December 2015, in accordance with the loan agreement IDA Credit number 45390 and Statement of Accounting Standards issued by the Financial Reporting Council of Nigeria. The projects' Financial Management Unit kept proper books of accounts, which are in agreement with the financial statements.
The Statements of Expenditure (SOE) are in agreement with the books of account and adequate supporting documentation has been maintained to support claims to the World Bank for reimbursements of expenditures incurred; and which expenditures are eligible for financing under the Credit agreement.
The Statement of Special Account (SA) of the LSCADP has been prepared on the basis of cash deposits and withdrawals for purposQ of complying with thli! CrQdit agrQQmQnt and giv!i! a truQ and fair viQW of thli! bli!ginning and ending balances and the accounts transactions for the period ended 31 December 2015.
The Counterpart Funds for 2015 was provided in accordance with the financing agreement; and the sum provided to date has been properly used for Project purpose; payments from this account are properly backed-up by relevant supporting documents; and are properly recorded in the books of accounts.
~ Olatunji Ogundeyin, FCA, FRC/20131lCANJ02224
For: PKF Professional Services Chartered Accountants Lagos. Nigeria
Dated:.2 J dunS E. 2.<5l C:> Tel : +234(01) 7734940 17748366 Web: www.pkf-ng.com Email: [email protected] I [email protected]
2
PKF House i 205A lkorodu Road Obanikoro 1 Lagos IG.P.O. Box 2047 1Marina 1 Lagos, Nigeria
Partners: 1. Yusufu, G. C. Orah, 0 . P. S. Adaji , T. A. Akande, S. I. Ochimana. N. A. Abdus-salaam. 0 . 0 . Ogundeyin , B. 0 . Adejayan .
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LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECT (INTERNATIONAL DEVELOPMENT ASSOCIATION CREDIT NO. 45390)
STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES FOR THE YEAR ENDED 31 DECEMBER 2015
The following are the significant accounting policies adopted by the Project in the preparation of its financial Statements.
a) Basis of accounting
The financial Statements have been prepared under the cash accounting basis. Income and charges relating to a specific financial year are taken into account only when the related cash are received or paid. Also, no adjustments have been made to reflect the impact on the financial statements of specific price changes in the general level of prices.
b) Income
Income from interest on Domiciliary accounts is realized when the current and fixed/call account is credited while incomes from other sources are credited when cash is received .
c) Fixed assets
Fixed assets disclosed are those intended for use over a period exceeding one accounting year. No depreciation is charged on fixed assets.
d) Foreign currencies
Transactions in foreign currencies are recorded in Naira at the rates of exchange ruling at the date of the transactions. Assets and liabilities existing in foreign currencies are recorded in Naira at the rates of exchange applicable at the balance sheet date and the resulting exchange gain or losses are dealt with in the Balance Sheet as Exchange Equalisation Account.
3
LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECTS (IDA CREDIT No.45390)
BALANCE SHEET AS AT 31 DECEMBER 2015
Assets employed Fixed assets
Project expenditure
Cash and bank balances
Financed by World Bank (IDA) credit Lagos State Government counterpart fund Exchange equalisation fund
Notes
2
3
6
4 5 7
2015 2014 N N
59,558,963 54,988,728
3,687,585,484 3,341 ,285,182
135,601 ,938 225,037,920
3,882, 7 46,385 3,621,311,830
3, 796,303,680 3,029,330,919 806,000,000 806,000,000
(719,557 ,295) (214,019,089)
3,882, 7 46,385 3,621,311,830
The financial statements were approved by the Project Managers on .?.! .. ~.~~-~- -~~·· · and signed on its behalf by:
......... ~ ....... ~8:: ........................ ] Project Coordinator w.v.r·· ~b · ·· ·······~~-~ ... ft: ...... ] Head, PFMU
................................... ~ .............. )Project Accountant
The statement of significant accounting policies and the accompanying notes form an integral part of these financial statements.
LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECTS (IDA CREDIT No.45390)
RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED DECEMBER 2015
Receipts External fund (IDA) Counterpart fund - Lagos State Government Interest received from Naira A/C Interest received from Dollar A/C Miscellaneous receipUsales of tender document
Payments Fixed assets Training and capacity building Operating cost Grants Consultancy
Excess of receipts over payments
Balance brought forward
Exchange equalisation fund
Balance carried forward
Notes
4 5
2 3.1 3.2 3.3 3.4
2015 N
245,535,429
228,765 372,506
1,187,277
247,323,977
4,570,235 68,670,124
148,208,259 100,081,622
31,128,845
352,659,085
(1 05,335,1 08)
225,037,920
15,899,126
135,601,938
2014 N
331 ,226,940 200,000,000
944,070 413,675
1,184,186
533,768,871
62,474,431 167,952,742 168,084,000
84,382,386
482,893,559
50,875,312
167,057,470
7,105,138
225,037,920
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LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECTS (IDA CREDIT No.45390)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 2015
1. The project
The Lagos State Commercial Agriculture Development Project (LSCADP) is a comprehensive five-year (2009 -2014) project developed by the Federal Ministry of Agriculture and Water Resources (FMAWR) in collaboration with the World Bank and other stakeholders. The project was however restructured and the life extended to 30 November 2016.
2.
The project aim to :(i) stregthen agricultural production systems, and (i i) facilitate access to market for small and medium scale commercial farmers engaged in targeted agricultural value chains including acquaculture, cocoa, dairy, fruit trees, maize, palm oil, poultry, and rice in the participating states.
Fixed assets Office
Equipments Motor Generating and Furniture Vehicle Sets
N N N
At 1 January 36,043,539 11 '191 ,500 7,753,689 Additions in the year 4,570,235
At 31 December 40,613,774 11 '191 ,500 7,753,689
Project fixed assets are not depreciated in line with the project accounting policies.
Cummulative At 31 December
2015 N
01 Jan. 2014 to
31 Dec. 2014 N
Total
N
54,988,728 4,570,235
59,558,963
Cummulative to
31 Dec. 2014 N
3. Project expenditure
Training and capacity (Note 3.1) Operating cost (Note 3.2) Grants (Note 3.3) Consultancy (Note 3.4)
3.1 Training and capacity building Demonstration and dissemination of technologies Training of CADA and others Training support to relevant institution Training/capacity building for CADA, CIG Field visits to CIG, CADA and intervention Capacity building rrraining- SCADO Awareness and Knowledge sharing Training of youth and Women
416,172,022 775,981,924
1 ,059,383,57 4 1,436,047,964
3,687,585,484
32,458,968 36,451 ,946 37,436,782 32,832,094 91,384,731
168,713,775 9,412,804 7,480,922
416,172,022
68,670,124 146,419,71 1 100,081 ,622
31 ,128,845
346,300,302
14,157,090
24,581 ,713 13,037,595 9,412,804 7,480,922
68,670,124
347,501 ,898 629,562,213 959,301 ,952
1 ,404,919,119
3,341 ,285,182
32,458,968 22,294,856 37,436,782 32,832,094 66,803,018
155,676,180
347,501,898
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LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECTS (IDA CREDIT No.45390)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 2015
3.2 Operating costs Bank charges Stationery Travell ing expenses - Local Travell ing expenses - Foreign Miscellaneous expenses Conference and seminar GSM cards and internet Servicing of MPRM Meeting with LASDA Ministry and others Advertisement Monthly productivity allowance Welfare package for staff Running cost to PFMU Renovation building Fuell ing Printing Office repairs and maintenance Flexible accounting maintenance Insurance Audit fee Field visits to CIG, GADA and intervention sites Operation and maintenance of equipment Operation and maintenance of vehicles Utility bill Baseline survey World bank supervision mission Travelling expenses - NCO Bidding opening process Erection of signpost Mid Term Review Promotional items
Other receipts (Note 3.5)
3.3 Grants Matching grant(IDA) Support to stable crop grant Investment Plan 1 Investment Plan 2 Investment Plan 3
Cummulative At 31 December
2015 N
1,771,175 14,300,190 88,102,151
6,402,258 5,766,714
71,535,012 33,483,039
1,431,150 29,471,979 32,331,317
259,521 ,277 1,200,400
11,452,623 4,412,722
44,573,731 10,558,800
6,319,859 588,148
10,210,794 7,126,992
12,895,881 7,726,113 6,808,851 2,767,536 5,055,898
104,072,324 4,512,220 2,839,694 1,725,600 5,727,804 4,714,700
799,406,952 (23,425,028)
775,981,924
925,756,021 33,545,931 50,392,994 37,892,628 11,796,000
1 ,059,383,57 4
01 Jan. 2015 Cummulative to to
31 Dec. 2015 31 Dec. 2014 N N
121 ,039 1,650,136 2,205,009 12,095,181
18,504,774 69,597,377 6,402,258
503,500 5,263,214 9,336,571 62,198,441 8,790,800 24,692,239
154,400 1,276,750 1,737,862 27,734,117
858,626 31 ,472,691 52,226,151 207,295,126
15,000 1,185,400 1,800,000 9,652,623
4,412,722 9,510,046 35,063,685
136,200 10,422,600 1,488,270 4,831 ,589
513,148 75,000 2,072,445 8,138,349 1,387,209 5,739,783
11 ,796,881 1,099,000 1,419,600 6,306,513 1,343,215 5,465,636
299,864 2,467,672 5,055,898
18,957,649 85,114,675 4,512,220 2,839,694 1,725,600
3,030,000 2,697,804 4,714,700
148,208,259 651 ,198,693 {1 , 788 , 548~ {21 , 636,480~
146,419,711 629,562,213
925,756,021 33,545,931
50,392,994 37,892,628 11 ,796,000
100,081,622 959,301 ,952
LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECTS (IDA CREDIT No.45390)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 2015
Cummulative 01 Jan. 2015 Cummulative At 31 December to to
2015 31 Dec. 2015 31 Dec. 2014 N N N
3.4 Consultancy Capacity building: Consultancy 13,434,302 13,434,302 Design of energy 4,231,461 4,231,461 Management information system (MIS) 230,000 230,000 Impact evaluation and beneficiary assessment 4,007,892 4,007,892 Construction, rehabilitation and maintenace 1,237,020,419 27,670,239 1 ,209,350,180 Supervision and monitoring of roads- Consultancy 28,157,105 28,157,105 Monitoring of environmental management plans 435,000 435,000 Price market survey 2,422,300 2,422,300 Baseline survey consultancy 6,919,826 (73,250) 6,993,076 Rehabilitation and Maintenance of rural energy (Good and Equipment) 102,064,378 102,064,378 Supervision of rural energy 4,616,544 4,616,544 Market facilitation 28,976,881 28,976,881 Production and Post harvest Management technology 1,765,928 1,765,928 Post harvest handling centres 1,765,928 1,765,928
1,436,047,964 31,128,845 1 ,404,919,119
3.5 Other receipts Miscellaneous income 3,420,285 1,187,277 2,233,008 Interest received from Naira AJC 13,278,910 228,765 13,050,145 Interest received from Dollar AJC 3,545,833 372,506 3,173,327 Sales of tender document 3,180,000 3,180,000
23,425,028 1,788,548 21,636,480
2015 2014 N N
4. World Bank (IDA) credit
At 1 January 3,029,330,919 2,487,312,398 Contribution during the year 245,535,429 331 ,226,940 Exchange difference 521 ,437,332 210,791 ,581
At 31 December 3, 796,303,680 3,029,330,919
2015 2014 US$ US$
4.1 World Bank (IDA) credit - Dollar At 1 January 18,085,557 16,026,497 Contribution during the year 1,234,054 2,059,060
At 31 December 19,319,611 18,085,557
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LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECTS (IDA CREDIT No.45390)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 2015
5. Lagos State Government counterpart fund
At 1 January Contribution during the year
At 31 December
6. Cash and Bank balances
Special account (S/A) 01 Counter-part account (CP/A) 01 Draw-down accountt (DO/A) 01 Interest (CP&DD/A) account 01 Interest (S/A) account 01
7. Exchange equalisation fund Exchange gain on special accounts Exchange Loss on IDA Credit
At 31 December
7.1 Exchange gain on special accounts At 1 January Exchange differences in the year
At 31 December
7.2 Exchange Loss on IDA Credit At 1 January Exchange differences in the year
At 31 December
8. Comparative figures
2015 N
806,000,000
806,000,000
1 02,387 J 7 40 12,622,418
1,278,482 13,279,144
6,034,154
135,601,938
20,145,991 (739, 703,286)
(719,557 ,295)
4,246,865 15,899,126
20,145,991
(218,265,954) (521 ,437 ,332)
(739, 703,286)
2014 N
606,000,000 200,000,000
806,000,000
92,048,132 113,115,654
1,538 ,210 13,050,399
5,285,525
225,037,920
4,246,865 (218,265,954)
(214,019,089)
(2,858,273) 7,105,138
4,246,865
(7,474,373) (21 0,791 ,581)
(218,265,954)
Certain figures relating to the previous year have been restated in these financial statements to conform with current year's classification .
LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECTS (IDA CREDIT No.45390)
STATEMENT OF SPECIAL ACCOUNT - NAIRA AS AT 31 DECEMBER 2015
At 1 January Receipt in the year Interest received
Less: Withdrawals Bank charges
Exchange gain
At 31 December
2015 N
92,048,132 245,535,429
337,583,561 (251,051,736)
(43,210)
86,488,615 15,899,125
102,387,740
Annexture i
2014 N
72,020,819 141 ,066,024
413,374
213,500,217 (125,678,553)
(20,397)
87,801 ,267 4,246,865
92 ,048,132
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LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECTS (IDA CREDIT No.45390)
STATEMENT OF SPECIAL ACCOUNT- US DOLLARS AS AT 31 DECEMBER 2015
Balance brought forward Receipt in the year Interest received
Less: Withdrawals Bank charges
Balance carried forward
Annexture ii
2015 2014 US$ US$
547,073 464,052 1,234,054 884,679
2,607
1,781,127 1,351 ,338 (1 ,260,048) (804,134)
(22) (131)
521,057 547,073
LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECTS (IDA CREDIT No.45390)
STATEMENT OF DRAWDOWN FOR THE YEAR ENDED DECEMBER 2015
Withdrawal Amount Date application number received
US$
6/25/2015 CADP 058 305,564.00 10/22/2015 CADP 059 324,551 .87
1/12/2015 CADP 060 354,246.41 12/22/2015 CADP 061 249,691 .60
Grand Total Inflow 1,234,053.88
iii
Annexture iii
Rates Amount received N/$ N
198.9 60,776,679.60 199.0 64,582,576.61 199.0 70,495,035.59 199.0 49,681 '137.65
245,535,429.45
LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECTS (IDA CREDIT No.45390)
STATEMENT OF RECONCILIATION OF IDA FOR THE YEAR ENDED DECEMBER 2015
Date
6/25/2015 10/22/2015
1/12/2015 12/22/2015
Withdrawal application number
CADP 058 CADP 059 CADP 060 CADP 061
Grand Total Inflow
Amount received
US$
305,564.00 324,551 .87 354,246.41 249,691.60
1,234,053.88
iv
Amount Disbursed
US$
305,564.00 324,551 .87 354,246.41 249,691.60
1,234,053.88
Annexture lv
LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECT (LSCADP) FIXED ASSETS SCHEDULE
SIN DESCRIPTION QTY PROC. SUPPLIER DATE OF CODE NO VALUE (N) METHOD PURCHASE LOCATION STATUS
FURNITURE AND FITTING
EXECUTIVE TABLE 1 NS COMFORTFIRST INTERIORS L TO 12130/2009 LSADNCADP/FN/001 140 000.00 LSCADPO RECEPTION BRANDED 1 OFFICE PIN BOARD 1 NS COMFORTFIRST INTERIORS L TO 12130/2009 LSADNCADP/FN/001 9.000.00 LSCADPO RECEPTION BRANDED 2 CONFERENCE CHAIR 25 UNITS AT N17 000 EACH) 25 NS COMFORTFIRST INTERIORS L TO 12130/2009 LSADNCADP/FN/002 425 000.00 LSCADPO CONF. ROOM BRANDED 3 MINI EXECUTIVE CHAIR 1 NS COMFORTFIRST INTERIORS L TO 12/30/2009 LSADNCADP/FN/029 18 000.00 LSCADPO MEO OFFICE BRANDED 4 SMALL NOTICE BOARD 1 NS COMFORTFIRST INTERIORS L TO 12130/2009 LSADNCADP/FN/030 9 000.00 LSCADPO MEO OFFICE BRANDED 5 MINI BOOK SHELF 1 NS COMFORTFIRST INTERIORS L TO 12130/2009 LSADNCADP/FN/031 30 000.00 LSCADPO MEO OFFICE BRANDED 6 SMALL NOTICE BOARD 1 NS COMFORTFIRST INTERIORS L TO 12130/2009 LSADNCADP/FN/032 9 000.00 LSCADPO ACCTS OFFICE BRANDED 7 COMPUTER TABLE 1 NS COMFORTFIRST INTERIORS L TO 12/30/2009 LSADNCADP/FN/033 18 000.00 LSCADPO ACCTS OFFICE BRANDED 8 COMPUTER TABLE 1 NS COMFORTFIRST INTERIORS LTD 12/30/2009 LSADNCADP/FN/035 18 000.00 LSCADPO ACCTS OFFICE BRANDED 9 MINI EXECUTIVE CHAIR 1 NS COMFORTFIRST INTERIORS L TO 12130/2009 LSADNCADP/FN/038 18 000.00 LSCADPO ACCTS OFFICE BRANDED 10 SMALL NOTICE BOARD 1 NS COMFORTFIRST INTERIORS L TO 12130/2009 LSADNCADP/FN/039 9 000.00 LSCADPO ACCTS OFFICE BRANDED 11 MINI EXECUTIVE CHAIR 1 NS COMFORTFIRST INTERIORS LTD 12130/2009 LSADNCADP/FN/040 18 000.00 LSCADPO PROC. OFFICE BRANDED 12 SMALL NOTICE BOARD 1 NS COMFORTFIRST INTERIORS L TO 12130/2009 LSADNCADPIFN/042 9 000.00 LSCADPO CBDO OFFICE BRANDED 13 MINI EXECUTIVE CHAIR 1 NS COMFORTFIRST INTERIORS L TO 1213012009 LSADNCADPIFN/043 18 000.00 LSCADPO CBD OFFICE BRANDED 14 COMPUTER TABLE 1 NS COMFORTFIRST INTERIORS L TO 1213012009 LSADNCADPIFN/044 30 000.00 LSCADPO SPC SEC. OFFICE BRANDED 15 MINI BOOK SHELF 1 NS COMFORTFIRST INTERIORS L TO 1213012009 LSADNCADP/FN/045 30 000.00 LSCADPO RIO OFFICE BRANDED 16 MINI BOOK SHELF 1 NS COMFORTFIRST INTERIORS L TO 12/3012009 LSADNCADPIFN/046 30.000.00 LSCADPO CBD OFFICE BRANDED 17 MINI EXECUTIVE CHAIR 1 NS COMFORTFIRST INTERIORS L TO 1213012009 LSADNCADPIFN/047 18 000.00 LSCADPO APASO OFFICE BRANDED 18 MINI EXECUTIVE TABLE 1 NS COMFORTFIRST INTERIORS L TO 12130/2009 LSADNCADP/FN/048 35,000.00 LSCADPO 19 MINI BOOK SHELF 1 NS COMFORTFIRST INTERIORS L TO 12130/2009 LSADNCADP/FN/049 30,000.00 LSCADPO APASO OFFICE BRANDED 20 MINI EXECUTIVE TABLE 1 NS COMFORTFIRST INTERIORS L TO 12130/2009 LSADNCADP/FN/050 35,000.00 LSCADPO 21 SMALL NOTICE BOARD 1 NS COMFORTFIRST INTERIORS L TO 1213012009 LSADNCADP/FN/051 9 000.00 LSCADPO SPC OFFICE BRANDED 22 EXECUTIVE CHAIR 1 NS COMFORTFIRST INTERIORS L TO 1213012009 LSADNCADPIFN/052 50 000.00 LSCADPO 23 BOOK SHELF BIG 1 NS COMFORTFIRST INTERIORS L TO 12130/2009 LSADNCADP/FN/053 45 000.00 LSCADPO 24 COMPUTER TABLE 1 NS COMFORTFIRST INTERIORS LTD 12130/2009 LSADNCADP/FN/054 18 000.00 LSCADPO SPC SECRETARY BRANDED 25 MINI EXECUTIVE TABLE 1 NS COMFORTFIRST INTERIORS L TO 1213012009 LSADNCADPIFN/055 35 000.00 LSCADPO SPC SECRETARY BRANDED 26 MINI CONFERENCE CHAIR ( 6 UNITS AT N16 000 EACH 6 NS COMFORTFIRST INTERIORS L TO 1213012009 LSADNCADP/FN/056 96 000.00 LSCADPO SPC OFFICE BRANDED 27 VISITORS CHAIR 1 NS COMFORTFIRST INTERIORS LTD 12130/2009 LSADNCADPIFN/062 16 000.00 LSCADPO SPC OFFICE BRANDED 28 VISITORS CHAIR 1 NS COMFORTFIRST INTERIORS L TO 1213012009 LSADNCADPIFN/063 16 000.00 LSCADPO 29 MINI CONFERENCE TABLE FOR 6 1 NS COMFORTFIRST INTERIORS L TO 1213012009 LSADNCADP/FN/065 70 000.00 LSCADPO 30 SMALL NOTICE BOARD 1 NS COMFORTFIRST INTERIORS LTD 12/3012009 LSADNCADP/FN/032 9 000.00 LSCADPO ACCTS OFFICE BRANDED 31 CONFERENCE TABLE TO SIT 25 1 NS COMFORTFIRST INTERIORS LTD 1213012009 LSADNCADP/FN/066 180 000.00 LSCADPO 32 MINI EXECUTIVE OFICE TABLE. (SIX UNITS AT N35 000 EACH 6 NCB COMFORTFIRST INTERIORS L TO 11/912010 LSADN CADP/FN/70 210 000.00 SCADO OFICE -BRANDED 33 MINI EXECUTIVE OFICE CHAIR SIX UNITS AT N18 000 EACH 6 NCB COMFORTFIRST INTERIORS L TO 1119/2010 LSADNCADP/FN/75 108 000.00 SCADO OFICE -BRANDED 34 FILE CABINENT 1 NCB COMFORTFIRST INTERIORS L TO 1119/2010 LSADN CADPIFN /80 19 500.00 SCADO OFICE -BRANDED 35 FILE CABINENT 1 NCB COMFORTFIRST INTERIORS L TO 11/9/2010 LSADNCADP/FN/83 19 500.00 SCADO OFICE -BRANDED 36 2HPAIRCOND 1 NCB COMFORTFIRST INTERIORS L TO 11/9/2010 LSADNCADPIFN/84 112 000.00 SCADO OFICE -BRANDED 37 STANDIND FAN 1 NCB COMFORTFIRST INTERIORS L TO 11/9/2010 LSADNCADP/FN/87 10 000.00 SCADO OFICE -BRANDED 38 STANDIND FAN 1 NCB COMFORTFIRST INTERIORS L TO 111912010 LSADNCADPIFN/88 10 000.00 SCADO OF ICE -BRANDED 39 MINI EXECUTIVE CHAIR 7 BT MICROEXPERTS LIMITED 1718112 210 000.00 40 MINI EXECUTIVE TABLE 7 BT MICROEXPERTS LIMITED 1718112 462 000.00 41 AIR CONDITIONER 1 BT MICROEXPERTS LIMITED 08111/2013 160,600.00
7 WATER DISPENSER 1 JOSEPH08RIGHT VENTURES 18/05/15 LSCADP/GDIOCE/254 90,800 STORE
8 WATER DISPENSER 1 JOSEPH08RIGHT VENTURES 18/05/15 LSCADP/GDIOCE/255 90,800 STORE 9 PROJECTOR&ACCESSORIES 1 BATROD NIGERIA ENTERPRISES 20105115 LSADNCADPICE/0011009 298,000 co GOOD
10 HIGH MEGAPIXEL PHOTO CAMERA 1 BATROD NIGERIA ENTERPRISES 20105115 LSADA/CADP/CE/010 194,000 co GOOD 11 HIGH MEGAPIXEL PHOTO CAMERA 1 BATROD NIGERIA ENTERPRISES 20105115 LSADNCADPICE/011 194,000 co GOOD 12 HIGH DEFINITION PROFESSIONAL CAMERA 1 BATROD NIGERIA ENTERPRISES 20105115 LSADNCADP/CE/003 397,000 co GOOD 13 HIGH TUNE P.A SYSTEM WITH MICROPHONE 1 BATROD NIGERIA ENTERPRISES 20/05/15 LSADNCADP/CE/005 150,000 co GOOD 14 MP3 VOICE RECORDER 1 BATROD NIGERIA ENTERPRISES 20/05/15 LSADNCADP/CE/004 189,000 co GOOD 15 RETENTION OF RENOVATION BUILDING WAYETUM NIGERIA ENTERPRISE 240,338
CASTING MACHINE AND SHREDDER 95,000
TOTAL 4, 760,536.55 v
S/N DESCRIPTION QTY PROC. SUPPLIER DATE OF CODE NO VALUE(N) I METHOD PURCHASE LOCATION STATUS
COMPUTERS I
1 HP COLOUR CP2025 LASER JET PRINTER 1 NS BT MICROXPERTS LIMITED 3/30/2010 LSADAICADP/OE/015 158 985.00 SPC OFFICE 2 HP PHOTOSMART C5580 PRINTER 1 NS BT MICROXPERTS LIMITED 3130/2010 LSADAICADP/OE/022 28.617.30 SPC OFFICE 3 SHARP PHOTOCOPY MACHINE 1 NS BT MICROXPERTS 3130/2010 LSADAICADP/OE/035 538 429.20 SPC OFFICE 4 HP DESKTOP COMPUTER 1 NS BT MICROXPERTS LIMITED 30-032010 LSADA/CADP/OE/08 137 727.00 SECRETARY OFFICE
5 COMPAQ MONITOR 1 NS BT MICROXPERTS LIMITED 3130/2010 LSADA/CADP/OE/04 19 078.20 SECRETARY OFFICE 6 HP COLOUR LASERJET PRINTER 1 NS BT MICROXPERTS LIMITED 3/30/2010 LSADA/CADP/OE/014 158 985.00 MEO'S OFFICE 7 HP PHOTOSMARTC5580 PRINTER SCANNER 1 NCB BT MICROXPERTS LIMITED 3130/2010 LSADAICADP/OE/019 28 617.30 PO OFFICE.
8 HP COLOUR LASERJET CP2025 PRINTER 1 NCB BT MICROXPERTS LIMITED 3/30/2010 LSADAICADP/OE/018 158 985.00 PO OFFICE. 9 HP LAPTOP COMPUTER CNU0074GLD 1 NCB BT MICROXPERT LIMITED 3/30/2010 LSADAI CADP I OE/060 198 304.05 SPC OFFICE 10 HP LAPTOP COMPUTER CNU0074G8X 1 NCB BT MICROXPERT LIMITED 3/30/2010 LSADAICADP/ OE/064. 198 304.05 APASO' S OFFICE BRANDED 11 HP LAPTOP COMPUTER CNU0074GMZ 1 NCB BT MICROXPERT LIMITED 3/30/2010 LSADAICADP/OE/076. 198 304.05 RIO OFFICE. 12 HP LAPTOP COMPUTER CNU0074JSZ 1 NCB BT MICROXPERT LIMITED 3/30/2010 LSADA/CADP/OE/070 198 304.05 CBDO OFFICE. 13 HP LAPTOP COMPUTER CNU9401 PHL 1 NCB BT MICROXPERT UMITED 3/30/2010 LSADA/CADP/OE/069. 198 304.05 MEO OFFICE. 14 HP LAPTOP COMPUTER CNU0074YY 1 NCB BT MICROXPERT LIMITED 3/30/2010 LSADAICADP/OE/068 198 304.05 MIS FACILITATOR BRANDED. 15 HP LAPTOP COMPUTER CNU0074GKY 1 NCB BT MICROXPERT LIMITED 3/30/2010 LSADA/CADP/OE/061 . 198,304.05 PROJECT ACCOUNTANT BRANDED.
16 HP LAPTOP COMPUTER CNU7401R4Z 1 NCB BT MICROXPERT LIMITED 3/30/2010 LSADAICADP/OE/066 198 304.05 FACILITATOR AQOACULTURE BRANDED
17 HP LAPTOP COMPUTER CN0074FYD 1 NCB BT MICROXPERT LIMITED 3/30/2010 LSADA/CADP/OE/062 198,304.05 FACILITATOR RICE BRANDED 18 HP LAPTOP COMPUTER CN0074GM8 1 NCB BT MICROXPERT LIMITED 3/30/2010 LSADA/CADP/OE/067. 198 304.05 FACILITATOR POULTRY. 19 HP LAP TOP COMPUTER CN0074GBC 1 NCB BT MICROXPERT LIMITED 3/30/2010 LSADAICADP/OE/07 4 198 304.05 FACILITATOR COMMUNICATION.
20 HP LAPTOP COMPUTER CNU0074FXJ 1 NCB BT MICROXPERT LIMITED 3/30/2010 LSADAICADP/OE/063 198 304.05 FACILITATOR ROAD.
21 HP LAPTOP COMPUTER CNU0074GQ1 1 NCB BT MICROXPERTS LIMITED 3/30/2010 LSADA/CADP/OE/065 198 304.05 FACILITATOR ENERGY
22 HP LAPTOP COMPUTER CNU9401QRN 1 NCB BT MICROXPERTS LIMITED 3/30/2010 LSADAICADP/OE/073. 198 304.05 FACILITATOR TRAINING 23 HP LAPTOP COMPUTER CNU0074FHT 1 NCB BT MICROXPERTS LIMITED 3/30/2010 LSADAICADP/OE/072. 198 304.05 FACILITATOR MARKETING 24 HP LAPTOP COMPUTER CNU901PPL 1 NCB BT MICROXPERTS LIMITED 3/30/2010 LSADA/CADP/OE/075 198 304.05 ENVIRONMENTAL OFFICER
25 HP PHOTOSMART C5580 PRINTER 1 NCB BT MICROXPERTS LIMITED 3130/2010 LSADAICADP/OE/022 28,617.30 SPC OFFICE 26 HP PHOTOSMART C5580 1 NS BT MICROXPERTS LIMITED 3130/2010 LSADAICADP/OE/021 28 617.30 APASO 27 HP COLOUR LASERJET PRINTER CP2025 1 NS BT MICROXPERTS LIMITED 3130/2010 LSADAICADP/OE/017 158 985.00 APASO 28 MONITOR 1 NS BT MICROXPERTS LIMITED 3130/2010 LSADAICADP/OE/01 19 078.20 ACCOUNTS 29 UPS 1 NS BT MICROXPERTS LIMITED 3130/2010 LSADA/CADP/OE/23 19 078.20 ACCOUNTS 30 HP COLOUR LASERJET PRINTER CP2025 1 NS BTMICROXPERTS LIMITED 5/30/2010 LSADA/CADP/OE/012 158 985.00 ACCOUNTS
31 HP COLOUR LASERJET PRINTER 1 NBC BT MICROXPERTS LIMITED 3130/2010 LSADA/CADP/OE/09 158 985.00 FAC OFFICE BRANDED. 32 DESKTOP COMPUTER 1 NBC BT MICROXPERTS LIMITED 3/30/2010 LSADAICADP/OE/06 137 727.00 LSCADP ADMIN OFFICE BRANDED. 33 MONITOR 1 NBC BT MICROXPERTS LIMITED 3/30/2010 LSADA/CADP/OE/06 19 078.20 LSACDP ADMIN OFFICE BRANDED 34 UPS 1 NCB BT MICROXPERTS LIMITED 3/30/2010 LSADAICADP/OE/026 19 078.20 LSCADP ADMIN OFFICE BRANDED 35 SHARP PHOTOCOPIER 1 NCB BT MICROXPERTS LIMITED 3/3/2010 LSADA/CADP/OE/026 538,429.20 ACCOUNT
36 DESKTOP COMPUTER 1 NCB BT MICROXPERTS LIMITED 3/30/2010 LSADA/CADP/OE/1 05 137,727.00 ACCOUNT
37 HP LASERJET PRINTER CP2025 1 NCB BT MICROXPERT LIMITED 3/30/2010 LSADAICADP/OE/13 158,985.00 CBDO·S OFFICE BRANDED.
38 HP LASERJET PRINTER CP2025 1 NCB BT MICROXPERT LIMITED 3/30/2010 LSADAICADP/016 158 985.00 RIO OFFICE BRANDED.
39 UPS 1 NCB BT MICROXPERT LIMITED 30-03=2010 LSADAICADP/OEI 19 078.20 ACCOUNT OFFICE BRANDED 40 HP LASERJET PRINTER 1 NCB BT MICROXPERT LIMITED 3130/2010 LSADA/CADP/OE/1 0 158 985.00 FACILITATORS OFFICE BRANDED 41 HP LASERJET PRINTER CP2025 1 NCB BT MICROXPERT LIMITED 3/30/2010 LSADAICADP/OE/011 158,985.00 COFERENCE ROOM BRANDED
42 DESKTOP COMPUTER 1 NCB BT MICROXPERT LIMITED 3/30/2010 LSADA/CADP/OE/07 137 727.00 CONFERENCE ROOM BRANDED 43 UPS 1 NCB BT MICROXPERT LIMITED 3/30/2010 LSADAICADP/OE/024 19 078.20 CONFERENCE ROOM BRANDED. 44 UPS 1 NCB BT MICROXPERT LIMITED 30-03=2010 LSADAICADP/OE/ 19 078.20 ACCOUNT OFFICE BRANDED 45 ANTIVIRUS 911 514.00 46 MICROSOFT OFFICE 360 366.00 47 AUTOCARD 572 346.00 48 MGT SS SPSS 1,059 900.00
vi
ISIN I DESCRIPIIU~
49 COMPUTER FOR SE' 50 LG LCD TELEVISION 51 LGDVD
I QTY I PROC. !SUPPLIER METHOD
1 NS AT&S INVES" 1 NS AT&S INVESTMENT Ll~
TE
GP~
GP~
1 1
NCB NC~
AT&S INVESSTMENT LIMITE[ AT&S INVESTMENT LIMITE
MUL TIMED lA PROJECTOR MUL TIMED lA PROJECTOR DIGITAL CAMERA
1
57 DIGITAL CAMERA 58 DIGITAL CAMCORL 59 DIGITAL CAMCORC 60 FLIP CHART STAN[
16 l5 APTOP COMPUTER IHPl
1\PTOP COMPUTER (H ) APTOP COMPUTER IHPl
68 I LAPTOP COMPUTER (HP)
COMPUTER BACK UP DEVICES OMPUTER BACK UP DEVI OMPUTER BACK UP DEVICE~ "rnMPUTER BACK UP DEVICES
73 !COMPUTER BACK UP DEVICE: 174 !COMPUTER BACK UP DEVICE 175 I COMPUTER BACK UP DEVICE 76 COMPUTER BACK UP DEVICE 77 COMPUTER BACK UP DEVICES 78 COMPUTER BACK UP DEVICES 79 COMPUTER LAPTOPS 80 COMPUTER BACK UP 500GB 81 STEEL CRYSTAL BINDING MACHINE UN II
r PRINTER r PRINTER
1 1 1 1
1 1
7
~ _l 20
7 1 1
1
NC NC NCI NC
~~
~s
~s
~ NS NS NS NS NS NS
IAT&S INVESTMENT Ll~ T&S INVESTMENT L1 T&S INVEST LIMITE[ T&S INVEST. LIMI"
AT&S INVEST, LIMI" AT&S INVEST,LIMil AT&S INVEST, LIMITE! AT&S INVEST LIMI"
LECOM TECH. L TO. LECOMTECH. LECOMTECH. I LECOM TECH. L TO
LECOMTECH. LECOM TECH. L TO LECOMTECH. LECOMTECH LECOM TECH. L TO LECOM TECH. L TO LECOM TECH. L TO LECOMTECH. LECOMTECH.
~S LECOM TECH. NS BT MICROXPERTS LIMITED
BT MICROXPERTS LIMITED NS NS IBT MICROXPERTS LIMITED
BT MICROXPERTS LIMITE MICROXPERTS LIMITE
LASERJET PRINTER 11 IT-GOSRA :INTER 5RA'
RA" RJET PRI
I 20 ILAPTOPS COMPUTERS 1 T-G(
121 JLAPTOPS COMPUTERS 1 T-GOSRAT 2~LAPTOPS COMPUTERS 1 T-GOSRAT
COMPUTERS 1 T-GOSRAT -~"'"'TI=RS 1 T-GOSRAT
' T-GC
18 ILAPTOPS COMPUTERS LAPTOPS COMPUTERS 11 I"
DATE OF j CODE NO I PURCHASE
110ILSADNCA 3/3012010 LSADNCADPIOE/03( 313012010 LAGOS CADP 31301201 0 LAGOS CADP 313012010 LAGOS CADP 313012010 LAGOS CADP 313012010 LAGOS CADP 31301201 0 LAGOS CADP
LAGOSCADP
313012010 I LSADNCADP/OE/027
LSADNCADP/OE/85 312BI2C 5ADNCADPIOE/86 ~128/2(
312812011 i.SADAlCADPIOE/88
~12812011 LSADNCADPIOE/89 SADNCADPIOE/90
312BI2011 LSADNCADP/OE/91 312812011 LSADNC,
3/2872011 -LSADAlCADP. 312812011 LSADNCADP/OE/94 312812011 LSADNCADP/OE/95 ~/?812011 1 LSADNCADPIOE/96 mBJ2011 1 LSADNCADPIOE/9' 3/2812011 1 LSADNCADP/OE/98
171081201 1710812(
17/08/2( 10811112013 :os11212013 15109115 15/09115 15/09/15 15109115 15109115 15109115
115109115 15109115 15/09115 15109115
vii
LSCADPIGDIOCE/25E 'OCEI
LSC
CE• LSCADPIGDIOCE/261 LSCADPIGDIOCE/262
LSCAI LSCADPIGDIOCE/2€ LSCADPIGDIOCE/266 LSCADt'iuU LSCADP/GD LSCADP/GDIOCE/269 LSCADP/GDIOCE/270
j VALlJI:(N) I LOCATION STATUS
1'
' .500.00 1,500.00 ),000.00
110,000.00 SPC OFFIC~ . SPC OFFICE. SPC OFFICE MEO OFFIC
TAL
29,000.00 CONFERENCE ROOM BRANDE[ >,000.00 LSCADP CONF ROOM BRANDEDP 2,500.00 CONFERENCE ROOM BRANDEl 1.800.00 CONFERENCE ROOM BRANDEl
93,5€(
148,000.00 IMEO OFFICE -'"" nnn no TECH ASST PROC 148 000.00 ASSIST. ACC 148,000.00 PROJECT INTERNAL AUor, vr
Q !'l~n 00 I ASSIST PROJECT ACCT 9 950.00 TECH ASSIST MEC 9 950.00 P.O OFFICE 9.950.00 P.O OFFICE 9 sso.oa· f':-6-o"FFICE 9 950.00 P 0 OFFICE 9,950.00 P.O OFFICE 9,950.00 IP.O OFFICE 9.950.00 I P.O OFFICE 9.950.00 IP.O OFFICE
805,000.00 300,000.00
1 . ~?~ mn nn 254,020.00
1,419,000.00 1,965,717.00
162,629 FAC RICE' 162,629 TA AQUACULTURE 162,629
1629IRIC
62,629 cc 162,629 SPC &lA
s.oo
IGOOC fGOCj[ [GOOc
JGOOC NOT IN OFFICE GOOC GOOC
• S/N DESCRIPTION QTY PROC. SUPPLIER DATE OF CODE NO VALUE(N)
METHOD PURCHASE LOCATION STATUS
OFFICE EQUIPMENT 1 FIRE PROOF CABINET 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/053 147 000.00 SPC OFFICE 2 WATER DISPENSER 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/054 25 000.00 SPC OFFICE 3 WATER DISPENSER 1 NS TEAB-SLAW 517/2010 LSADNCADP/OE/048 25 000.00 SECRETARY OFFICE 4 HAlER THERMOCOOL FRIDGE 1 NS TAEB-SLAW 5/7/2010 LSADNCADP/OE/047 67 000.00 SECRETARY OFFICE 5 FILING CABINET 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/014 19 500.00 MEO OFFICE 6 MICROWAVE 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/038 16 000.00 LOBBY/ ENTRANCE BRANDED 7 HAlER THERMOCOOL FREESE 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/039 67 000.00 LOBBY /ENTRANCE BRANDED. 8 FIRE RESISTANCE SAFE 1 NS TEAB SLAW 5/7/2010 LSADNCADP/OE/040 147 000.00 PO OFFICE. 9 FILING CABINET 1 NS TEB SLAW 5/7/2010 LSADNCADP/OE/058 19 500.00 PO OFFICE. 10 FILING CABINET 1 NS TEABSLAW 5/7/2010 LSADNCADP/OE 19 500.00 APASO 11 FILING CABINET 1 NS TEAB SLAW 5/7/2010 LSADNCADP/OE/43 19 500.00 ACCOUNTS 12 FILE CABINET 1 NS TEABSLAW 5/7/2010 LSADNCADP/OE/049 19 500.00 RIO 13 ACCOUNT S SAFE 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/044 75 000.00 ACCOUNTS OFFICE BRANDED. 14 FIRE EXTIGUISHER 1 NS TEAB-SLAW 7 05-2010 LSADNCADP/FE/01 18.000.00 FRONT OF CONF ROOM BRANDED. 15 FIRE EXTINGUISHER 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/FE/02 18 000.00 FRONT OF APASO'S OFFICE BRANDED 16 FIRE EXTIGUISHER 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/FE/03 18.00000 LSCADP BUILDING BRANDED 17 FILING CABINET 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/052 19 500.00 FAC OFFICE BRANDED. 18 FILING CABINET 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/049 19 500.00 LSCADP RECEPTION BRANDED. 19 FIRE PROOF CABINET 1 NCB TEAB-SLAW 5/7/2010 LSADNCADP/OE/042 147 000.00 ACCOUNT 20 FILE CABINET 1 NS TEAB SLAW 5/7/2010 LSADNCADP/OE/056 19 500.00 FACILITATORS OFFICE BRANDED 21 FILING CABINET 1 NS TEBSLAW 5/7/2010 LSADNCADP/OE/0 19 500.00 SCADO 22 FILING CABINET 1 NS TEAB SLAW 5/7/2010 LSADNCADP/OE 19.500.00 SCADO 23 MICROWAVE 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/0 16 000.00 SCADO 24 1.5AIRCON 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/0 95 000.00 SCADO 25 1.5AIRCON 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/0 95 000.00 SCADO 26 1.5AIRCON 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/0 95 000.00 SCADO 27 MINI EXECUTIVE CHAIR 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/0 18 000.00 SCADO 28 MINI EXECUTIVE CHAIR 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/0 18 000.00 SCADO 29 MINI EXECUTIVE CHAIR 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/0 18 000.00 SCADO 30 MINI EXECUTIVE CHAIR 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/0 18 000.00 SCADO 31 MINI EXECUTIVE TABLE 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/0 35 000.00 SCADO 32 MINI EXECUTIVE TABLE 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/0 35 000.00 SCADO 33 MINI EXECUTIVE TABLE 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/0 35 000.00 SCADO 34 MINI EXECUTIVE TABLE 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/0 35.000.00 SCADO 35 COMPUTER TABLE 1 NS TEAB-SLAW 5/7/2010 LSADNCADP/OE/0 18.000.00 SCADO 36 ENVIRONMENTAL EQUIPMENT-BIRD SCARING EQUIP 40 NS WORDSMITH L TO 9/13/2010 98.00000 STORE BRANDED 37 ENVIRONMENTAL EQUIPMENT-LIFE JACKET 30 NS WORDSMITH L TO 9/13/2010 285,000.00 STORE BRANDED 38 ENVIRONMENTAL EQUIPMENT-INDUSRIAL HAND GLOVE 100 NS WORDSMITH LTD 9/13/2010 185,000.00 STORE BRANDED 39 LAWMMOWER 2 NS AGINTRADE 10/29/2010 129,100.00 STORE BRANDED 40 ENVIRONMENTAL EQUIPMENT-NOSE GUARD 50 NS WORDSMITH L TO 9/13/2010 47,500.00 STORE BRANDED 41 CONFERENCE TABLE 1 NCB BTVENTURES 10/25/2010 LSADN CADP/FN/70 100 000.00 GADA OFFICE BRANDED 42 CONFERENCE CHAIR 1 NCB BTVENTURES 10/25/2010 LSADNCADP/FN/68 17 000.00 GADA OFFICE BRANDED 43 CONFERENCE CHAIR 1 NCB BTVENTURES 10/25/2010 LSADNCADP/FN/69 17 000.00 GADA OFFICE BRANDED 44 CONFERENCE CHAIR 1 NCB BTVENTURES 10/25/2010 LSADN CADP/ FN/72 17 000.00 GADA OFFICE BRANDED 45 CONFERENCE CHAIR 1 NCB BTVENTURES 10/25/2010 LSADNCADP/FN/73 17 000.00 GADA OFFICE BRANDED 46 CONFERENCE CHAIR 1 NCB BTVENTURES 10/25/2010 LSADNCADP/FN/7 4 17 000.00 GADA OFFICE BRANDED 47 CONFERENCE CHAIR 1 NCB BTVENTURES 10/25/2010 LSADNCADP/FN/75 17 000.00 GADA OFFICE BRANDED
viii ----
SIN DESCRIPTION QTY PROC. SUPPLIER DATE OF CODE NO VALUE (N) METHOD PURCHASE LOCATION STATUS
48 CONFERENCE CHAIR 1 NCB BTVENTURES 1012512010 LSADA/CADPIFN/76 17 000.00 CADA OFFICE BRANDED 49 CONFERENCE CHAIR 1 NCB BTVENTURES 1012512010 LSADAICADP/FN/77 17 000.00 CADA OFFICE BRANDED 50 MINI EXECUTIVE OFICE TABLE 1 NCB BTVENTURES 25 10-2010 LSADAICADP/FN/71 35 500.00 CADA OFFICE BRANDED 51 OFFICE CHAIR 1 NCB BTVENTURES 1012512010 LSADA/CADP/FN/67 19 000.00 CADA OFFICE BRANDED 52 FILLING CABINENT 1 NCB BTVENTURES 1012512010 LSADAICADP/FN/79 21 ,000.00 CADA OFFICE BRANDED 53 WATER DISPENSER 1 NCB BTVENTURES 1012512010 LSADAI CADPIFN 180 36 000.00 CADA OFFICE BRANDED 54 REFRIGERATOR 1 NCB BTVENTURES 10/2512010 LSADA/CADP/FN/83 65 000.00 CADA OFFICE BRANDED 55 STANDING FAN 1 NCB BTVENTURES 1012512010 LSADAICADP/FN/84 7 000.00 CADA OFFICE BRANDED 56 VSAT 1 NS VDT COMMUNICATIONS L TO 9/9/2011 3 741 069.45 57 PROJECTOR SCREEN 1 NCB IESSY ASSOCIATES 7/5/2011 LSADA/CADP/OE/120 150 000.00 58 PUBLC ADDRESS SYSTEM 1 NCB IESSY ASSOCIATES 7/5/2011 LSADAICADP/OE/119 155 000.00 59 PROJECTION EXTENSION BOX 1 NCB IESSY ASSOCIATES 7/5/2011 LSADA/CADP/OE/118 15 000.00 60 WEIGHING SCALE 20 BT MICROEXPERTS LIMITED 17/0812012 84 000.00 61 RAIN BOOTS 50 BT MICROEXPERTS LIMITED 17/08/2012 120 000.00 62 RAIN COATS 50 BT MICROEXPERTS LIMITED 17/08/2012 60 000.00 63 LIFE JACKET 20 BT MICROEXPERTS LIMITED 17/08/2012 64 800.00 64 EXECUTIVE CHAIRS BT MICROEXPERTS LIMITED 23/10/2013 3,896,982.95 65 MESH STEEL CHAIRS (3 SEATERS) SUN ADSON INTERNATIONAL 05/11/2013 75,000.00 0
11,021,952.40 AIR CONDITIONER
1 PANASONIC AIR CONDITIONER (2.0HP) 1 NS PHALINE LIMITED 1/1412010 LSADAICADP/AC/001 112 000.00 LSCADPO CONF. ROOM BRANDED 2 PANASONIC AIR CONDITIONER (2.0HP) 1 NS PHALINE LIMITED 1/1412010 LSADA/CADP/AC/002 112,000.00 LSCADPO CONF. ROOM BRANDED 3 PANASONIC AIR CONDITIONER 2.0HP 1 NS PHALINE LIMITED 1/14/2010 LSADA/CADP/AC/003 112 000.00 LSCADPO FAC. OFFICE BRANDED 4 PANASONIC AIR CONDITIONER 1.5HP 1 NS PHALINE LIMITED 1/14/2010 LSADA/CADP/AC/004 91 000.00 LSCADPO ACCTS OFFICE BRANDED 5 PANASONIC AIR CONDITIONER 1.5HP) 1 NS PHALINE LIMITED 1/14/2010 LSADA/CADP/AC/005 91 ,000.00 LSCADPO BRANDED 6 PANASONIC AIR CONDITIONER (1 .5HP) 1 NS PHALINE LIMITED 1/14/2010 LSADAICADP/AC/006 91 000.00 LSCADPO PROC. OFFICE BRANDED 7 PANASONIC AIR CONDITIONER (1 .5HP) 1 NS PHALINE LIMITED 1/14/2010 LSADA/CADP/AC/007 91 000.00 LSCADPO RECEPTION BRANDED 8 PANASONIC AIR CONDITIONER (1 .5HP) 1 NS PHALINE LIMITED 1114/2010 LSADAICADP/AC/008 91 000.00 LSCADPO ADMIN OFFICE BRANDED 9 PANASONIC AIR CONDITIONER 2.0HP 1 NS PHALINE LIMITED 1114/2010 LSADAICADP/AC/009 112 000.00 LSCADPO SPC OFFICE BRANDED 10 PANASONIC AIR CONDITIONER 2.0HP 1 NS PHALINE LIMITED 111412010 LSADAICADP/AC/01 0 112 000.00 LSCADPO FAC OFFICE BRANDED 11 AIR CONDITIONER 110 000.00
1 AIR CONDITIONER 1 JOSEPHOBRIGHT VENTURES 18/05/15 LSCADP/GD/OCE/14 143,333 PO GOOD
2 AIR CONDITIONER 1 JOSEPHOBRIGHT VENTURES 18/05/15 LSCADP/GD/OCE/15 143,333 co GOOD
3 AIR CONDITIONER 1 JOSEPHOBRIGHT VENTURES 18/05/15 LSCADP/GD/OCE/16 143,333 ESMO NS
4 AIR CONDITIONER 1 JOSEPHOBRIGHT VENTURES 18/05/15 LSCADP/GD/OCE/17 143,333 PA GOOD
5 AIR CONDITIONER 1 JOSEPHOBRIGHT VENTURES 18/05/15 LSCADP/GD/OCE/18 143 333 PIA GOOD
6 AIR CONDITIONER 1 JOSEPHOBRIGHT VENTURES 18/05/15 LSCADP/GD/OCE/19 143,333 FAC. MKTING GOOD 12 COST OF INSTALLATION 50 000.00 13 COST OF INSTALLATION 50 000.00 14 OTHERS 474 449.78
2,559 450.78 TAX DEDUCTED-FIRS 55 750.00
2,503, 700.78
ix
S/N DESCRIPTION QTY PROC. SUPPLIER DATE OF CODE NO VALUE (N) METHOD PURCHASE LOCATION STATUS
I I I GLOBAL POSITIONING SYSTEM 2011
1 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE L TO. 318/2011 LSADNCADP/OE/99 99 525.00 TECH ASSIST OFFICE BRANDED 2 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE L TO. 31812011 LSADNCADP/OE/1 00 99 525.00 TECH ASSIST OFFICE BRANDED 3 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE L TO. 3/8/2011 LSADNCADP/OE/1 01 99,525.00 MEO OFFICE 4 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE L TO. 3/8/2011 LSADNCADP/OE/1 02 99 525.00 MEO OFFICE 5 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE L TO. 3/8/2011 LSADNCADP/OE/1 03 99 525.00 MEOOFFICE 6 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE L TO. 3/8/2011 LSADNCADP/OE/1 04 99 525.00 MEOOFFICE 7 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE L TO. 3/8/2011 LSADNCADP/OE/1 06 99 525.00 MEOOFFICE 8 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE L TO. 3/8/2011 LSADNCADP/OE/1 07 99 525.00 MEOOFFICE 9 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE L TO. 3/8/2011 LSADNCADP/OE/1 08 99 525.00 MEOOFFICE 10 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE L TO. 3/8/2011 LSADNCADP/OE/1 09 99 525.00 MEOOFFICE 11 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE L TO. 3/8/2011 LSADNCADP/OE/11 0 99 525.00 MEOOFFICE 12 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE L TO. 318/2011 LSADNCADP/OE/111 99 525.00 MEOOFFICE 13 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE L TO. 318/2011 LSADNCADP/OE/112 99 525.00 MEO OFFICE 14 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE L TO. 3/812011 LSADNCADP/OE/113 99 525.00 MEO OFFICE 15 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE L TO. 3/812011 LSADNCADP/OE/114 99 525.00 MEO OFFICE 16 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE L TO. 3/812011 LSADNCADP/OE/115 99 525.00 MEO OFFICE 17 GLOBAL POSITIONING SYSTEM 1 NS BIONTECH AFRIQUE LTD. 31812011 4 OTHERS 398100.00 MEO OFFICE 18 GLOBAL POSITIONING SYSTEM 1 BT MICROXPERTS LIMITED 17/08/12 908 688.00 MEO OFFICE
2 899188.00
40,613 773.73
GENERATOR 1 OLYMPIAN 27.0 GENERATING SET 1 NS 6 1/7/2010 LSADNCADP/GS/001 3,183,000.00 LSCADPO BRANDED 2 RENOVATION OF GEN BUILDING 75,000.00 3 GENERATOR 50 twA 1 NCB PETNIKON NIG. ENTERPRISES 8/16/2011 LSADNCADP/GEN/02 4 495 689.00 LSCADO
7 753 689.00
MOTOR VEHICLE 1 TOYOTA HIACE 14 SEATER BUS 1 NS ELIZADE NIG. LTD 10/28/2010 CADP/LSCADO/GD NEH/N 5 439 500.00 LSCADO
Toyota hilux vehicle FOS International Limited. 14/11/2013 5 752,000.00 LSCADO
11 '191 ,500.00
GRAND TOTAL 59,558,962.73
I
X
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PK Accountants & Business Advisers
LAGOS STATE COMMERCIAL AGRICULTURE DEVELOPMENT PROJECT
MANAGEMENT LETTER 31 DECEMBER 2015
PKF
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Lagos State Commercial Agriculture Development Project (International Development Association - Credit No: 4591 0 UN I) Management Letter on the Audit
Contents
• Transmittalletter
• Executive summary
• Section 1 - Review of status of prior year recommendations
• Section 2 - Current period's findings and recommendations
Year Ended 31 December 2015
Page
3
4
5
6
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PKF Professional Services
;Z}June 2016
The State Project Coordinator Lagos State Commercial Agriculture Development Project State Projects' Financial Management Unit Second Floor Textile Labour House 10, Acme Road , Off Agidingbi Road, Ogba -lkeja Lagos.
Dear Sir,
PKF Accountants & Business Advisers
We have completed the audit of the Project's accounting records for the year ended 31 December 2015 and set out in the accompanying domestic report are matters, which came to our attention during the audit together with our recommendations for improvement in the accounting systems and internal controls.
It must be appreciated that matters dealt with in this report came to light during the conduct of our normal audit procedures, which are designed primarily to enable us express our opinion on the operating effectiveness of controls of the project and therefore cannot be expected to include all possible improvements in the system of accounting and internal controls, which a more extensive examination might reveal.
In the course of our audit, we maintained close contact with your officers and briefed them on our findings and recommendations as and when they arose. It is possible that the affected departments/units are already addressing some of the lapses.
It is the responsibility of management to establish and maintain the internal control structure of the organization.
Our major findings and recommendations are summarised in this report in two parts as follows: Section 1 - Review of status of implementation of prior year findings/recommendations. Section 2 - Current year's findings.
This report has been prepared solely for your use as Project Coordinator and should not be quoted or referred to in whole or part without our prior written consent. No responsibility to any third party is accepted as the report has not been prepared and is not intended, for any other purpose. You should assess recommendations for improvement for their full commercial implications before they are implemented.
We do hope that our findings together with recommendations will be of positive benefit to management in improving controls and accounting systems and strengthening operational effectiveness.
Thank you .
Yours faithfully,
~t~f.~r£~·w Tel: 234(01) 804207417734940 17748366 Web: www.pkf-ng.com Email: [email protected] 1 [email protected] PKF House 1205A lkorodu Road Obanikoro Lagos 1 G. 0 . P. Box 2047 1 Marina 1 Lagos, Nigeria
I
Lagos State Commercial Agriculture Development Project (International Development Association- Credit No: 45910 UNI) Management Letter on the Audit
Executive summary
Year Ended 31 December 2015
We have completed the audit of the Project's accounting records for the year ended 31 December 2015. In planning and performing our audit, we considered the Project's internal control structure in order to determine our audit procedures for the purpose of expressing an opinion on the financial statements and not to provide assurance on the internal control structure.
Sets out below are the summary of our major findings on the audit for the year ended 31 December 2015. Details of these findings are contained in the accompanying report.
• Omission of transactions in the special account (Naira) ledger • Supplies of toiletries by inappropriate vendors • Counterpart funding not provided
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Lagos State Commercial Agriculture Development Project (International Development Association - Credit No: 45910 UN I) Management Letter on the Audit
Section 1 - Review of previous year's management letter
Year Ended 31 December 2015
In the course of the audit, we reviewed the status of implementation of our prior year's findings and the extent to which our recommendations have been implemented. We observed that some of the lapses have not been fully addressed. Major issues are:
S/N Findings/recommendations Status of implementation Reference to current year
1.1 Prior year audit adjustments not posted We observed that prior year audit adjustments were not posted and Yet to be implemented. Not Applicable recommended that all audit adjustments be posted at the conclusion of the audit However, machinery has once they have been accepted. been put in place towards
posting all previous audit adjustments.
2.1 Detail breakdown on Demonstration & Dissemination of Technology not adding up to the total in the trial balance We noticed that the detail breakdown of items on Demonstration and Implemented. Not Applicable. Dissemination of Technology ledger did not add up to the amount reported in the trial balance. A difference of N30,000 was noticed . We recommended that the difference be investigated and appropriate correction effected .
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Lagos State Commercial Agriculture Development Project (International Development Association- Credit No: 45910 UNI) Management Letter on the Audit
Section 2- Current year's findings
2.1 Omission of transactions in the special account (Naira) ledger
Year Ended 31 December 2015
We reviewed the special account and noticed that some Expenditure incurred may be understated if Management should ensure that all transactions were not properly captured in the naira adequate check is not carried out by a transactions are properly reviewed special account, though fully reported in the dollar responsible officer. before and after posting. account. A particular example is the recording of the sum of $6,978 given to Mr. Babatunde Sani in respect of trip to Chicago to attend food expo, the naira amount was not caotured in the soecial account naira ledaer
The actual PV in question is for Mrs Akinwande Moniola with PV/2015/LA/296. This transaction was posted to bank account which automatically posted to individual ledger. However due to software error NO.OO was posted instead of $6,978.00. This is a software error which can only be resolved by the vendor as it is beyond the management. The software Vendor has been notified for immediate correction.
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Lagos State Commercial Agriculture Development Project (International Development Association- Credit No: 45910 UNI) Management Letter on the Audit Year Ended 31 December 2015
Section 2- Current year's findings ...
2.2 Supplies of toiletries by inappropriate vendors
We noticed supply of toiletries such as disinfectant, air freshener, toilet soaps, toilet rolls etc for the office use were done by vendors that are in the business of supply of printers, digital color separation, office automation systems and computer appliances. An example was the supply of toiletries by Daimler Press Limited on 07/01/2015.
• Buying items from the wrong source Management should ensure that could result to purchase of supplies are only obtained from reliable substandard goods sources.
• Occurrence of the transaction may be considered doubtful
Wrong receipt was attached in an error. This will be corrected and presented for verification. Recommendation noted.
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Lagos State Commercial Agriculture Development Project (International Development Association- Credit No: 45910 UNI) Management Letter on the Audit
Section 2- Current year's findings ...
2.3 Counterpart funding not provided
We reviewed the counterpart account and discovered I This could affect the ability of the project to that no counterpart contribution was made in the year be able to carry out it's activities optimally 2015. This is against the financing agreement signed with the world bank.
Year Ended 31 December 2015
The State government should ensure that counterpart funding to date is made to the project as agreed with the world bank
The State Government has paid its counterpart fund up to date i.e. 2014, before the extension of the project to 2016. However, the Project is seeking for Additional Fund as a result of the extension of the project
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