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Don’t expect payment from us- Baraza boss

Don’t expect payment from us- Baraza boss





Don't expect payment from us- Baraza boss

BARAZA PRESS RELEASE Since the experience of delayed payments in our operations to members owing to challenges thrown at us, you will recall that we, as a responsible corporate entity, had drawn up a schedule to meet our just and due obligations in these trying times to our members.

Specifically, our schedule of payment took into consideration, first timers who had not received a dime and others who were relatively new in the operations and attendant benefits of the Cooperative Society. Till date, following our schedule of payments, we have paid a good number out of the First Timer contributors so far with a further intention to commence the other payments of members in the month of July, 2021 until our attention was drawn to a court order granted on the 29th day of July, 2021. There are about 3000 First Timer Contributors Nationwide.

It is indeed our avowed plan to stick to the schedule of payments outlined for members and contributors based on availability of funds, return on profits and financial guidelines at this trying period.

Be that as it may, and contrary to our repeated pleas or entreaties to our members to avoid throwing any spanner into the works on ground but to wait patiently and prayerfully to abide to the outcome of our efforts at sincerely addressing all accrued and outstanding, my attention has been drawn by one of our bankers to an Order of Court granted by Hon. Justice L. M. Boufini of the Nembe High Court, sitting in Yenagoa , Bayelsa State, served on the 30th day of July 2021 forbidding the named banks and my humble self, including the Baraza Multipurpose Cooperative Society from any financial dealings on accounts maintained in those banks , pending the hearing and final determination of the substantive suit so filed at the behest of Barrister by F.B. Olorogun ( one of our members and contributors).

Whilst we consider this development unfortunate and as a clog in the wheel of progress and a halt to our operations, we cannot but obey the Orders of the Court. We have accordingly briefed our Solicitors to take appropriate steps upon being served with the court processes any moment from now and shall keep members abreast of developments.

The matter, we are told, is fixed for the 6th day of September, 2021 for hearing. The further implication of this court action and Order is that even funds to be repatriated and deposited in these accounts can no longer be accessed for onwards distribution to members.

As you well know, it cannot be, and is never, the desire of our Cooperative Society to halt any form of payment having resumed operations in this direction but as things are, we are constrained to continue with the process in the circumstance.

We accordingly appeal to you all to bear with us whilst we take every step to respond to the Orders of Court and the substantive action in court and have same dismissed.

Thank you for your continued patience and understanding. God Bless you!


Don't expect payment from us- Baraza bossDon't expect payment from us- Baraza boss

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