Penex Legal specializes in forensic review and recovery of excess bank charges for corporate clients. Our services include identifying and reclaiming overcharges such as excess debits interest, Commission on Turnover (COT), facility fees, and unremitted balances on LC transactions. We use specialized software to analyze banking transactions, reconcile them with CBN regulations and negotiate refunds with banks. If necessary we escalate unresolved issues to the Bankers Committee. Their work is done with minimal disruption to the client's operations, and they operate on a NO CURE, NO PAY basis, charging a percentage of recovered funds.
At Penex Legal we have recovered ₦4billion for various clients, with an additional ₦3billion in ongoing discussions
This is not a statutory audit. We do not require your vouchers, receipts etc. There is no strain on your staff or disruption in their routine duties All we need are Bank statements, Offer Letters, Pay-in-Slips, Correspondence and Letters of Credit Files for the required period not exceeding six (6) years. We also require letters of authority to deal with your bankers when we identify recoverable amounts as well as a letter of authority to refer unresolved issues to the Bankers Committee on Ethics and Professionalism. It is important to emphasize that our discoveries are not because of the incompetence on the part of your financial units or accounting staff. Even in situations where audits have been done, we have still made substantial revoveries.