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July 19 Resumption Is Sacrosanct — Baraza Boss



Baraza Multipurpose Cooperative Society Limited #UnveilingRoadToRecovery Starts Monday 26th April

July 19 Resumption Is Sacrosanct — Baraza Boss 


Nothing will change the July 19, 2021 resumption date of Baraza Multipurpose Cooperative Society, its Chief Executive Officer, Miebi Bribena has again assured. 


Bribena was speaking in Yenagoa the Bayelsa State capital on Saturday, during his weekly progress report, where he also mentioned that in the last seven days, a total sum of N10.5 million was paid to members in the N100 thousand category  who requested for termination.


He dismissed the claims by some members that the ongoing Forensic Audit was a ploy to buy more time and further shift the date, stressing that the recovery date is sacrosanct and will not be altered.


“I want to state very emphatically that the July 19th 2021 recovery date is sacrosanct and will not be changed”, he said.

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He explained that the ongoing forensic audit has exposed the criminal activities of some staff and their external collaborators while noting that the road to recovery will not be complete if acts of sabotage and fraud are not identified and the system completely purged.


According to him, with the arrests made, some others involved in the massive fraud have also come forward to submit themselves and are now making refunds back to the cooperative while investigation by security agents is still on.


His words: “Let me assure members that while we’re working tirelessly towards recovery, we will not relent in unmasking and weeding out the syndicates poised to sabotage the liberation effort of Baraza members.


“It will interest our esteemed members to know that our team of Forensic Auditors are cleaning up our entire automated financial system.

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“There are ghost accounts that must be taken out of our system and all leakage blocked. There are future fraudulent accounts that must be blocked so that Baraza is not milked dry in the future. We have a ten year vision and it must be accomplished.



“The revelations are enormous, mind blowing and heart breaking but the sacrifice of this pause payment period will be worth the while at the end of the day. There shall be no sacred cows in this investigation.


The Baraza boss stated that despite what seem like a slow pace of payment which is due to availability of funds, there is an encouraging level of recovery of the system through the introduction of new trading platforms.

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“Looking at how much we have refunded so far to those who had applied for termination in the 100k category, I am confident that we are making good progress, making way for us to begin to attend to other outstanding payments like backlogs. Baraza is not a ponzi scheme and we did not set up the outfit to crash” he declared.

July 19 Resumption Is Sacrosanct — Baraza Boss

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