The management of Baraza Multipurpose Cooperative Society has enlisted the services of two additional brokers to ensure effective service delivery.
The Chief Executive Officer of Baraza Multipurpose Cooperative Society, Arc. Miebi Bribena disclosed this while fielding questions from members during a weekly situation report facebooklive @baraza multipurpose cooperative.
He said the enlisting of two additional brokers was part of efforts of the management at revamping the present situation and put Baraza on good stead for developmental growth.
Noting that the enlistment of two brokers, besides the existing deriv platform, would facilitate payment of surpluses to members, Bribena said these brokers have a shorter period of withdrawal when compared to deriv’s 5-15 days withdrawal period.
The CEO, who stated that the current challenges facing the operations of the cooperative society were only a temporary setback that would not last long, assured that Baraza would come out stronger after the ongoing restructuring of managerial and payment policies.
Dr. Bribena used the opportunity to thank members nationwide for their show of understanding and commitment, especially during this period, and appealed to them to exercise more patience.
Bribena assured members that the new policies adopted by the management would be to their benefit, especially those who have made up their minds not to terminate their contributions.
He said documentation of members with N100,000 contributions who have opted to terminate their membership are still ongoing at the various branches of the Baraza Multipurpose Cooperative Society nationwide.
The CEO added that the affected members would be paid after profiling their accounts and required 30 days duration as stated in the agreement form.
Reacting to insinuations of preferential treatment to contributors in Bayelsa, Arc. Bribena said there was no iota of truth in the allegation, adding that members nationwide are being treated equally.
He also said the 3-month pause payment policy adopted by the members at the last meeting had taken off since Monday, April 19, 2021.
The CEO said the 3-month pause payment period would avail the management the opportunity to concentrate on Forex Trade and maximize the profits accrued for the benefit of the members nationwide.
He assured members he would not relent in intimating them with what is going on in Baraza through the presentation of the weekly situation report, and its summary, every Monday.