Ripples Nigeria has a shinning start to the year as the duo of Patrick Egwu and Vivian Chime were named among 50 journalists across the globe honoured by the International Centre For Journalists (ICFJ).
Egwu and Chime won second place under the Inequality, Business and Economics category for an investigative report commissioned by Ripples Nigeria titled ‘Investigation: ‘Official’ Thugs Killing Small Businesses in Cross River Despite Govt’s Tax Exemption Policy’
In a statement on the ICFJ website announcing the award, the centre said: “The International Center for Journalists (ICFJ) is honoring more than 50 journalists for COVID-19 reporting in five languages. Their coverage has explained complicated science, revealed pandemic-related corruption and exposed inequalities that have harmed society’s most vulnerable.
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Nigerian-owned audit firms are stuck in the shadow of foreign accounting firms known as the Big Four, losing a large chunk of revenue generated in the Nigerian audit market to their foreign counterparts. To make a play for the industry’s proceeds, local firms must become one.
According to findings by Ripples Nigeria, over N2 billion was paid into the Nigerian audit market by six of the largest Nigerian companies in nine months last year 2020 – none of the fund went to Nigerian-owned audit firms, rather, the Big Four were the beneficiaries.
The Big Four consist of PricewaterhouseCoopers (PwC), Deloitte, Ernst & Young, and KPMG – together, they have dominated the Nigerian audit industry, creating an oligopoly system, devoid of domestic audit firms.
Nigeria’s three refineries under the management of the Nigerian National Petroleum Corporation (NNPC) have not made any profit or produce a drop of fuel |