June 24th, 2022

The Managing Director/Chief Executive Officer,

CW Builders Limited,
Suite 43, Phase 3, LSDPC Complex,
Oba Ogunji Road, Ogba,
Lagos.

Dear Sir,

LETTER OF ENGAGEMENT RE: APPOINTMENT AS EXTERNAL

AUDITOR AND TAX CONSULTANTS TO CW BUILDERS LIMITED

Above subject matter refers,

We thank you for your letter dated 24 th June 2022 appointing us as tax
consultants to CW Builders Limited and hereby confirm our acceptance of
the offer.

Our understanding of the terms of our engagement are as follows:

1. SCOPE

Our firm is to provide annual tax retainership services to the company

The annual retainership services referred to above covers the following:

 Computation of income tax, Capital allowances and Education Tax

payable,
 Computation of Capital Gains Tax (CGT) payable on chargeable
assets and Deferred Tax provision for inclusion in the annual financial
statements;
 Filling with the Federal Inland Revenue Service of the Annual Tax
returns together with duly completed Self – Assessment Form
IR3C4COY
 Obtaining approval to pay tax liabilities on instalmental basis;
 Applying for and obtaining withholding tax receipts in respect of
deduction of tax at source from the company’s income. Also applying
for and obtaining withholding tax credit Notes for set-off against income
tax payable.
 Raising objection to “Best of Judgment Assessment” (if any) within
statutorily allowed.
 Dealing with tax queries that may be raised by the Federal Inland
Revenue Service on tax returns submitted by us;
 Liason with Federal Inland Revenue Service for the purpose of
following up on outstanding tax matters.
2. PROFESSIONAL FEES
Our annual professional fee of one million two hundred thousand
(#1,200,000.00) exclusive of disbursements for carrying out the annual
tax compliance services listed above is normally based on time and
skills of the various professional staff engaged on the assignment.

However, the fee is negotiable and subject to periodic review.

At the appropriate time, the fee payable for our retainership services to
your company will be negotiated along with fees payable for similar
services being rendered to other companies in the Wealth Group.

In other words, group fee is agreed and shared out between

companies within the group.

3. TERM OF PAYMENT

Agreed professional fees is payable as follows: -

(a) 60% on commencement of assignment
(b) 30% on submission of draft tax computation to the company
(c) 10% on submission of tax return to the tax authority
100%

4. RECOVERABLE EXPENSES.

Recoverable expenses for transport, stationeries, photocopies etc will

be billed and paid along with our final bill.

We thank you for your patronage and promise not to betray the
confidence reposed in us by appointing our firm as your tax
consultants.

Yours faithfully,
For: Viclakes Consulting Services

Victor Falade
Managing Partner