by Admin | Aug 24, 2016 | Blog |
Follow @NigeriaPI Get two entrepreneurs in a room and chances are one, if not both, have been the victim of accounting fraud. According to the Association of Certified Fraud Examiners annual report, nearly half of all small businesses experience fraud at some point in their business lifecycle. It will cost these organizations an average of $114,000 per occurrence. Worse, such fraud is usually committed by a “loyal” employee. As the head of a managerial accounting service, I’ve uncovered hundreds of fraudulent activities affecting prospective clients. The amount can vary greatly, from a few thousand dollars to millions. Let me share some true stories that highlight four common types of fraud for business owners and ways they can be avoided: 1. Payroll fraud. Last year, we took on a local construction firm as a new client. Theirpayroll account had never been reconciled to their time-keeping system, so we made that one of our top priorities. According to company records, two workers and their manager were working massive hours and getting paid a ton of overtime that amounted to more than 80,000 in additional annual pay. Their timesheets revealed they were working on construction projects that were more than 50 miles away from one another simultaneously. Hmmmm. It took about three seconds to figure that out and fire the employees, but the money was gone. While it is easy for you and me to say that this could never happen to us, the additional salaries given to these three guys amounted to an increase of only four percent of the total payroll cost — a figure that when unchecked could...
by Admin | Aug 23, 2016 | Blog |
Follow @NigeriaPI The Central Bank of Nigeria (CBN) has banned nine deposit money banks (DMBs) from the foreign exchange market, for hiding over $2 billion belonging to Nigerian National Petroleum Corporation (NNPC) from the Treasury Single Account (TSA). According to Channels TV, President Muhammadu Buhari has been briefed on the breach by the banks, and they have all been mandated to move the monies to the treasury single account. more details coming...
by Admin | Aug 23, 2016 | Blog |
Follow @NigeriaPI A mother in Japan is under investigation for murder after her four children, including a girl as young as three, were found dead at home, Japanese police said Monday. Local media reported the victims were killed by their mother before she tried to take her own life. A 10-year-old boy, two six-year-old girls, and a three-year-old girl were found dead early Monday, according to police in the southern Japanese prefecture of Fukuoka. “Their father found them dead and reported it to police,” a police spokesman told AFP, without providing further Police are questioning the children’s 41-year-old mother as a suspect in a possible murder-suicide attempt, according to Jiji Press and public broadcaster NHK. The mother was said to confessed to police she had killed the children. Police reportedly told media that at least one child had a mark indicating...
by Admin | Aug 23, 2016 | Blog |
Follow @NigeriaPI Security agents in Kaduna are currently on the trail of a woman simply identified as Hasiya, for breaking the hand, leg and bruising the eye, stomach, back and private part of her step son and also breaking the head of the step daughter by hitting her with the sole of a pointed shoe on her head. The victims, two year-old Abdulrahman Abubakar and four year-old Maryam Abubakar, are presently receiving treatment at a private hospital in Kaduna after Hasiya, their stepmother allegedly broke Abdulrahman’s left hand, right leg and Maryam’s head at their father’s house located in NDC in Igabi local government area of the state. According to a national daily, men of the Nigerian Security and Civil Defence Corps (NSCDC) are on the trail of the step mother, Hasiya, who fled the house after security agencies came looking for her at their residence after her evil act. Mother of the children, Halima, said she and her husband started having problem 12 days after her son was born which terminated their three year old marriage. “Immediately I weaned my son, the father came and took the children away first to his parents’ house and then to his wife,” she said. “On Monday, I was on my way to the market when I got a call from the father of my children that my son was on admission at the hospital. I quickly rushed there and when I saw the condition my son was in, I was devastated. He could hardly breathe and he had bruises on his eye, his head, his stomach and his private part,” she...
by Admin | Aug 23, 2016 | Blog |
Follow @NigeriaPI The Criminal Investigation and Intelligence Department (SCIID), Oyo State Police Command, has arrested a 100 level University student who stabbed his girlfriend twice in the stomach and also slashed her throat for refusing to terminate pregnancy. The 19-year-old undergraduate, Ade (surname withheld), recently made wrong use of online search application when he used it to search on what he could to do to a girlfriend who refused to abort a two-month-old pregnancy she had for him. A popular daily report that the 100 level student allegedly committed the crime at the residence of his girlfriend’s parents at Sango-Alaro area of Ibadan. The student narrated to the daily: “I met my girlfriend about two months ago on Facebook. We had a mutual friend and I added her. She accepted my request and we got to know each other. I proposed a relationship to her and she accepted. We had s3x only once on July 4. I did not protect myself. ”On August 10, she told me that she was pregnant. The next morning, on Thursday, August 11, she called me that her parents wanted to see me. I went to her parents at Alaro area of Ibadan and they wanted to know what my intention was on the pregnancy. ”I suggested that she had an abortion but they said they could not abort for their daughter because it was against their belief. I told them that I would get back to them on Monday, August 15. ”I left for home confused, but on the way home, different thoughts went through my mind because I didn’t want my parents...
by Admin | Aug 23, 2016 | Blog |
Follow @NigeriaPI Mrs. Kudirat Balogun, wife of Gafar Balogun, a chairmanship candidate under the platform of the ruling All Progressives Congress (APC) has been kidnapped in Abeokuta, Ogun State capital. Kudirat was reportedly kidnapped on Sunday by four gunmen who pretended to be visitors. It was gathered that the kidnappers arrived the Baloguns’ family home located at number 1, Sekoni Street in Olomore area of Abeokuta around 8pm on Sunday, where they seized the woman at gunpoint. As at the time of filing this report, the kidnappers had yet to contact the family. Meanwhile, Ogun State Acting Public Relations Officer, Abimbola Oyeyemi, confirmed the incident, adding that frantic efforts were ongoing to rescue the victim unhurt. He said, “The Commissioner of Police has ordered the anti-kidnapping unit to take over the case, and investigations have commenced immediately on the matter.” Mrs Kudirat’s Husband is vying for the Chairman of Ewekoro Local Government Area in the forthcoming Saturday October 8 election in Ogun State local government...
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