MIRA INFORM REPORT

 

 

Report Date :           

07.10.2011

 

IDENTIFICATION DETAILS

 

Name :

SEGANI & CO.  LIMITED

 

 

Registered Office :

4, Onipe Street, Bariga, Lagos State

 

 

Country :

Nigeria

 

 

Date of Incorporation :

03.12.1991

 

 

Com. Reg. No.:

RC: 181673

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

----

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Undetermined

 

 

Payment Behaviour :

----

 

 

Litigation :

----

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Nigeria

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

SEGANI & CO.  LIMITED

 

 

OPERATIONS

 

The company’s line of business could not be determined

 

 

COMPANY LOCATION

 

The company could not be located at the given address: 1, Suco Road, New Oko Oba, Agege, Lagos State, Nigeria.

 

 

RISK FACTORS

 

Credit Risk

RISK RATING ASSESSMENT:                     NOT FULLY RATED DUE TO INSUFFICIENT INFORMATION

 

 

IDENTIFICATION

 

COMPANY NAME:                                 SEGANI & CO. LIMITED

REGISTERED NAME:                            SEGANI & CO. LIMITED

REGISTERED ADDRESS:                      4, Onipe Street, Bariga, Lagos State, Nigeria

HEAD OFFICE ADDRESS:                     1, Suco Road, New Oko Oba, Agege, Lagos State, Nigeria

MOBILE:                                               234-805-280-0031

PRIMARY CONTACT:                            Mr. Segun Anibi (MD/CEO)

Currency: All monetary quoted in this report are in Nigerian Naira, the local currency or unless otherwise stated. The exchange rate is N148 to 1 US $.

  

SUMMARY

 

NATURE OF PREMISES:                       Leased office space approximately 500 square meters

DATE INCORPORATED:                        3rd December, 1991

YEAR BEGAN OPERATIONS:                1991

LEGAL FORM:                                      Private Limited Company

REGISTRATION NO:                             RC: 181673

SHARE CAPITAL:                                 100,000.00

ISSUED CAPITAL:                                100,000.00

PAID-UP CAPITAL:                               100,000.00

STAFF STRENGHT:                              Undetermined

 

 

OWNERSHIP/SHAREHOLDING STRUCTURE

 

·         Owolabi A. Anibi                                                                                                                 

4, Onipe Street, Bariga, Lagos State, Nigeria

 

·         Olatunde I. Anibi                                                                                         

4, Onipe Street, Bariga, Lagos State, Nigeria

 

·         Aderemi Anibi

4, Onipe Street, Bariga, Lagos State, Nigeria

 

·         Adedotun Anibi

4, Onipe Street, Bariga, Lagos State, Nigeria

 

 

DIRECTORS                                             

 

  1. Owolabi A. Anibi
  2. Olatunde I. Anibi
  3. Aderemi Anibi
  4. Adedotun Anibi

 

 

BACKGROUND

 

Segani & Co. Limited was incorporated on 3rd December, 1991 with Registration Number (RC: 181673). The company could not be located at the given address: located at 1, Suco Road, New Oko Oba, Agege, Lagos State, Nigeria. The building is located at the end of the road, opposite abattoir, fenced with cream gate.

 

During our visit, we met the security men at the gate who claimed that such company does not exist at the address. We later called Mr. Segun Anibi, the Managing Director  (234-805-280-0031) who  stated that he cannot give any information on phone but he asked us to give our document to Miss Fadekemi Adeyinka, a receptionist of Spectral Limited and promised to get back to us in due course but we are yet to get any response from him at the time of compiling this report.

 

However, we noticed that the company is not well known by the security at the gate and some staff because the only company that occupies 1, Suco Road is Spectral Limited which engage in tea and beverages. No further information on the company could be obtained from secondary sources.

 

Conclusion:  Based on our visit and brief discussion with Mr. Segun Anibi who claimed to be the owner of the company and Miss Fadekemi Adeyinka, we are of the opinion that the company is using the address as a contact address. The CAC details notwithstanding, we hereby advise that caution should be exercised in doing business with the company until the correct address is provided by the company.

 

 

TYPES OF CUSTOMERS

 

UNDETERMINED

 

 

PERFORMANCE RANKING

 

* Quality of Management:          UNDETERMINED

* Ethics & Integrity:                     UNDETERMINED

* Ownership Structure:              GOOD

 

 

FINANCES 

 

The company’s Audited Account was not available during our visit; therefore, as such, its present financial state could not be ascertained.

 

 

INDUSTRIAL OVERVIEW/ OPERATING ENVIRONMENT

 

UNDETERMINED DUE TO INSUFFICIENT INFORMATION

 

CMT REPORT

(Corruption, Money Laundering & Terrorism)

 

UNDETERMINED DUE TO INSUFFICIENT INFORMATION

 

OFFICIAL REMARKS

 

Having carried out all necessary verifications on the company, our investigations revealed that Segani & Co. Limited is duly registered in Nigeria with a registered address is located at 4, Onipe Street, Bariga, Lagos State, Nigeria, while its operational address is located at 1, Suco Road, New Oko Oba, Agege, Lagos State, Nigeria.

 

Information contained in the report is mostly from secondary sources.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.19

UK Pound

1

Rs.75.92

Euro

1

Rs.65.44

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.