BRIBENA FAULTS NAN REPORT ON BARAZA MULTIPURPOSE COOPERATIVE SOCIETY, DESCRIBES IT AS MISLEADING, UNPROFESSIONAL CONDUCT
The Management of BARAZA Multipurpose Cooperative Society has described the report of News Agency of Nigeria (NAN) as published in some national dailies and online platforms on the operations of the Cooperative Society as misleading and a calculated attempt to tarnish the image of the Cooperative Society and that of its Chief Executive Officer, Arc. Dr. Miebi Bribena.
NAN had unprofessionally backgrounded its report on a statement issued by the Economic and Financial Crimes Commission, (EFCC) by referring to ‘BARAZA as a fraudulent scheme.
NAN was quoted in a report published by some national newspapers that BARAZA falls into the category of fraudulent investment schemes that EFCC is warning the people against.
The paragraph reads “Also another popular scheme, Baraza Multipurpose Cooperative headquartered 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 a statement issued by EFCC, and wondered how the name of the Cooperative propped up in the news story authored by NAN.
It should be noted that BARAZA is neither an investment firm, financial institution nor a Ponzi scheme but a cooperative society operating strictly in accordance with the 2004 Cooperative Act.
The Cooperative Society has been in existence in the last 14 months with branches in some states of the Federation, and has been living up to its billings in payment of monthly surpluses to its over 40,000 members nationwide.
BARAZA as a cooperative society does not have issues with the EFCC, ICPC or any of the security agencies.
The Cooperative has made known to its numerous members the challenges it is currently facing, and policies were formulated and adopted by members at enlarged online meetings to mitigate the problems.
However, the report by NAN is a far cry from the reality, which is why the management has expressed dismay over the publication, noting the havoc the false message has caused.
Describing the publication as the height of professional misconduct, the management of Baraza, therefore, called on the management of NAN to investigate the story, retrieve it from the public domain and call the writer to order.