ODAHIEKWU OGUNDE, Yenagoa
Hundreds of Persons Living With Disabilities (PLWDs) and other investors in Baraza Multipurpose Cooperatives Limited on Friday stormed the headquarters of the company in Yenagoa, Bayelsa State, protesting against their trapped billions of naira
The company’s financial mess has made it unable to meet its commitments to its over 40,000 investors in the last four months.
Before the company ran into financial predicament, culminating in its inability to pay investors their returns, the cooperative scheme was patterned in such a way that each investor was paid 25% of his/her investment per month.
The physically challenged persons, whose protest locked down the popular Yenagoa-Mbiama road for hours, were seen chanting war songs and chorusing: “Baraza, we no go gree”, “give us our money”, “we no go go.”
The protest, however, turned violent when other aggrieved members of the cooperative joined the fray and started looting properties belonging to Baraza in place of their money.
All efforts by the police operatives drafted to the scene to maintain law and order proved abortive as the protesters vehemently refused to shift their grounds.
Other members of the cooperative society who felt that have been defrauded resorted to massive looting of whatever they could set their eyes on in the company
The company’s properties such as refrigerators, plasma televisions, computers, office chairs, among others, were seen being moved out of the office building by the aggrieved cooperators.
Leader of the PWLDs, Taritimi Warriam, said they would continue to occupy the office of the company until all their demands were met, saying that he personally invested N11 million in the now failed scheme.
“February 1, 2021 was when I invested the money but up till now I have not seen a dime from Baaza. After coming to this place on Monday, they asked me to assemble our people that we would be treated specially which I did but up till today (Friday), we have not seen anything.
“But to my greatest surprise, Baraza called me yesterday that we should calm down that he is processing a new platform but nothing yet has happened and we are occupying here until our money is paid.
“When they tell you people are looting, there is nothing here that is worth what we have invested. I invested N11million and I was supposed to get 25 per cent of that amount every month but I have not got a dime and so are other persons here.”
Another PWLD, Titi Tariowei, who said, he invested N400,000 in both simple and compound interest since November last year, said he was paid for only three months but he was yet to get a dime from the Baraza for over six months.
Another investor, who gave his name only as Kingsley, was seen sitting on bare floor with tears in his eyes, saying he invested N3m and was only paid a month’s interest of 25 per cent before the payment stopped.
The Acting Commissioner of Police, Bayelsa State Command, Aminu Alhassan, who was on the ground to plead with the protesters, urged them to carry out their protest peacefully without resorting to vandalism of properties.
He said: “The resolution is not far-fetched. These people have deposited their monies on condition and unfortunately, the person who is supposed to pay them has not been able to pay them.
“From all indications, the account of the company has been frozen. There is even another court case, but what we don’t want them to do is to take the laws into their hands or seek self help.”
A source claimed that the Chief Executive Officer (CEO) of Baraza, Pastor Miebi Bribena, had allegedly left Nigeria, a rumour which was said to have aggravated the anger of the investors.
Pastor Miebi Bribena, had promised the investors that the cooperative would come back on stream on July 19, 2021 and would begin payment with those he called “first timers” after which others would also be paid.
But that heightened hope soon turned into despair after months of patiently waiting for the promised day to come.