In this thread is my story throughout the period I worked, as I am still owed 3 months’ salary, and the people still working there are owed between 2 months to 7 months depending on category of workforce they belong. These practices are worse now. #Chisco
He runs the companies' finances like a kiosk business. He takes 55% of the gross made by all companies to his personal account. The remaining 45% is where the company runs all its expenses - Loans, Spare Parts, Gas, Salary etc. #Chisco
From the money he takes off the gross, he loans the company money at rates higher than from banks and these are the first set of money he pulls out from the 45% every month, making sure all new vehicles do not contribute to salary account unless they pay off the loans. #Chisco
He owns the spare Parts company, Machine Nation and the Gas company, Chisco Energy through his sons, Obinna and Chidi, who manages them and the next set of money removed from the 45% is the Spares and Gas that are sold to the companies at more than 200% of Market rates most times
Once all these are removed, there is nothing remaining to go to the salary accounts. Remember he already took 55% of gross before all these other deductions from the 45%. How does he run the scams of the Loans he purports to give? @ChiscoNGN
Through a quack and compromised Finance Unit I worked with while there. For Example, he bought 44 Toyota hiHces at a time. He also bought 50 Hyundai Elantra for uber business based on faulty projections. He also bought 10 nos of 61-seater buses not delivered at the time...
He calculated the cost of the 44 Toyota buses at more than times TEN of the value to be continuously removed from the money made by the buses until they pay off, adding the cost of the Hyundais and 61 seaters buses to the cost. Who buys 44 Toyota Hiace for more than 10 times?
When the 61-seater buses eventually arrived, he calculated them as buses bought on loan and added to loans that would be deducted from the 45%, he leaves to the company ensuring there can never be a moment they would pay salaries.
He setup the system in a way that no new vehicle contributes to the salary account until all the cooked up loans are paid off. All the older vehicles contribute a meagre percentage but they are not always used for commuting as the new buses must all be loaded first.
I have all records. Incomes. Expenses. Everything to show how much comes in and he refused to pay salaries, showing that company makes profits. He does not pay Taxes either with the cooked-up accounts and stories in conjunction with bribing Tax officials through his Accounts unit
I know where the bodies are buried, having working within the accounts unit and had access to all reports from years gone by till now.
He uses the money being taken out of the system to build gigantic structures around, with the latest being his Obed's place at the heart of Ikoyi. Pictures of the ongoing massive buildings are shown here. 
More pictures dey o
As of Dec, he is owing staff several months of salary and with the help of the corrupt system he is trying ways to not pay those outstanding by looking for those who are reacting after being owed 5 months or more and not pay them under that excuse.
The plan is to make people frustrated to the extent they won’t mind getting their present salary while all the FIVE MONTHS owed enters voice mail. The documents are available with mails saved.
If they lie and fails to pay staffs, and my outstanding 3 months before I left there last year, I will release all the details of the shady practices to the government and public.
It is important we as citizens take the lead to open up issues like this and warn those who might become unfortunate to go work in these places. They are recruiting again. They would pay initial TWO months for new staff and stop at the THIRD MONTH. It is the cycle.
He removes part of salaries not paid to an account for a Hospital he opened without amenities and said all staff must use it as their HMO. Deducting to his personal accounts from staff salaries as HMO money.
As an Igbo myself, this one of the people that gives our tribe bad names for tribalistic people who generalize. This is not us. This is a wicked man, not the tribe. We are hardworking, loyal and fair.
