The Chief Executive Officer of Baraza Multipurpose Cooperative Society, Arc. Miebi Bribena has described the News Agency of Nigeria (NAN) report, published in some national dailies and online platforms, on the operations of the Cooperative Society, as misleading.
The management further said the report, which amounts to a professional misconduct, is a calculated attempt to tarnish the image of the Cooperative as well as that of its Chief Executive Officer, Arc. Dr. Miebi Bribena.
According to a press statement by the Cooperative, the NAN unprofessionally premised its reports on a statement issued by the Economic and Financial Crimes Commission, (EFCC) by referring to Baraza as a fraudulent scheme.
NAN was quoted in the said report published by some national newspapers, as saying that Baraza falls into the category of fraudulent investment schemes that the EFCC is warning the people against.
A paragraph in the report reads:
“Also another popular scheme, Baraza Multipurpose Cooperative headquarters in Yenagoa, Bayelsa had in March announced its inability to meet its obligations to its over 25,000 investors’’.The management noted that there was nowhere Baraza was mentioned in the statement issued by EFCC, and wondered how the name of the Cooperative mischievously crept into the news story authored by the NAN”.
Continuing, the statement said:
“It should be noted that Baraza is neither an investment firm, financial institution nor Ponzi scheme, but a Cooperative society, operating strictly in accordance with the 2004 Cooperative Act.“The Cooperative Society has been in existence since the last 14 months with branches in some states of the Federation, and has been living up to its billing in payment of monthly surpluses to its over 40,000 members nationwide.“Baraza, as a cooperative society, does not have issues with EFCC, ICPC or any of the security agencies.“The Cooperative has made known to its numerous members, the challenges that it is currently facing, and, policies have been formulated and adopted by members at enlarged meetings, to mitigate the problem”.
The Baraza statement further said the report by NAN is a far departure from what is happening at the Cooperative, and that is why the management is expressing dismay over the publication, noting the havoc it has caused the members.
Describing the publication as the height of professional misconduct, the management, therefore, calls on the management of NAN to investigate the story, retract it from the public domain and call the writer to order.
When Nigerdeltaconnect contacted the News Agency of Nigeria (NAN) for their side of the story, the Editor-in-Chief, Silas Nwoha, said he did not see anything wrong with NAN’s report and wondered what was the hue and cry all about.
According to him “I’ve read the story as presented by NAN reporter. His story is in order. Thank you”.
As of the time of filing this report, it was not immediately clear if Baraza Multipurpose Cooperative Society had formally communicated to the NAN to retract the story and call their reporter to order.