DUNLOP NIGERIA PLC BORROWED CASH TO PAY SHAREHOLDERS DIVIDENDS”

MAY BE IT'S TIME E.F.C.C INVITES MR DAPO LAWUYI FORMALLY OF TYRE MAKER ,DUNLOP NIGERIA PLC IN LAGOS FOR A CHAT.


“DUNLOP NIGERIA PLC BORROWED CASH TO PAY SHAREHOLDERS DIVIDENDS”
BY ABDULMUMINI ADEKU.
Moribund Dunlop Nigeria Plc actually borrowed money from all kinds of sources to pay its shareholders for up to five years ,Paedia Express Multimedia’s News Office Desk has learnt as at press time.
In an exclusive investigations in Lagos,Nigeria ,it was discovered that about a decade ago ,the tyre maker’s top executives in an attempt to hoodwink its shareholders and give them the impression that all was well in its financial audited books actually aided and abetted the cooking up of its books while borrowing cash to pay salaries and dividends to shareholders.
An impeccable source who explained to this reporter noted that because salaries were being paid a lot of lower and middle ranged staff in the blue chip which was tagged a multi –national did not know that all led management lied to the general public bare faced.
The source speaks:”I got wind of this information because one of their Chief Accountant is a consultant to a firm that I also consult for at the moment,so we used to discuss about the past and even corporate fraud”
This days,the tragedy that the brand became always hits hard on any passer- by at the relics of what used to be the corporate Head office of Dunlop Nigeria Plc with the compound taking over by  a bank ,a church while a larger portion of its warehouse would appear have being taken over by rodents and reptiles.