Baraza Cooperative Society, Bayelsa state
Baraza Multipurpose Cooperative (BMC), has appealed to its teaming members to remain calm, saying Management is working to restore normalcy in the platform.
The appeal is prompted by the growing tension among members and investors on the platform over fears of a possible loss of their their investments.
The appeal was contained in a statement on Monday signed by the Baraza Management and made available to Daily Report Nigeria.
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The Cooperative stated it has no lingering issues with the Bayelsa State Government, while stressing it has not breached any laws concerning it’s operation status in the country.
The Baraza Management emphasized it is working round the clock to fix the issues at hand in no distant time.
The statement tagged “We Are Committed to Our Goals at Baraza reads in full:
The management wishes to use this medium to inform all members of our cooperative to remain calm.
As earlier stated in our general meeting via zoom on the 20th of March, 2021, the issues bothering on timely payments are issues that can and will be resolved.
As stated in the zoom meeting we are faced with a situation where abilities to change and withdraw our profits takes five to fifteen working days as against the previous timeline of two to five working days, a situation that has far reaching implications for our man hour trading time. This has greatly affected our ability to meet target profits .
The other issue is regularizations of our payment which is being managed effectively. Our goal is to have a seamless payment system irrespective of top up etc.
We want to reiterate that we do not have any issue with any government agencies . We are a cooperative and are regulated by certain laws which have not been defaulted.
Our inabilities to meet up payment clearly has more to do with our inability to change our currency to our medium of exchange within a short time frame .
Kindly note also that suspension of April payment is done in good faith and in order to allow the management to design such model to combat these issues and serve you better.
Always know that your interest is our primary concern and utmost goal and we will not renege neither will we abandon such noble objective .
To this end we are working tirelessly to manage these issues and we assure you that normalcy will be restored shortly .
We therefore appeal that you remain calm and be very hopeful .
