Baraza Shutdown Port Harcourt office as angry investors beat up staff, threaten to set the building ablaze over non-payment [VIDEO]

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…CEO Reaffirms Commitment to Effective Service Delivery

The Chief Executive Officer of BARAZA Multipurpose Cooperative Society, Arc. Dr. Miebi Bribena has announced the shutting-down of their Port Harcourt office due to what he described as threat to life and property’s.

NAIJA LIVE TV gathered that some investors stormed the Port Harcourt Branch office of the BARAZA Multipurpose Cooperative Society at Eleme on Monday and threatened to razed the building ablaze, lock up staff in demand of their invested capital before some Police from the Rivers State command arrived the scene and restored normalcy.

Arc. Dr. Miebi Bribena while debunking an alleged intimidation of members from the Eleme branch due to the crisis on Monday stated that. “we invited police based on the security report that some members are threatening to burn the place”

He added that there was no report or record of intimidation of members by the security operative, describing it as a figment of the imagination of whoever is spreading what he described as an unfounded rumor.

He assured members he would not relent in intimating members with what is going on in BARAZA through the presentation of the weekly situation report, and its summary every Monday.


MEANWHILE, the Chief Executive Officer of BARAZA Multipurpose Cooperative Society, Arc. Dr. Miebi Bribena has confirmed Monday, 19th April 2021 as an effective take off date for the 3-month pause payment policy adopted by the members at the last meeting.

Arc. Dr. Bribena made the confirmation while fielding questions from members during a weekly situation report facebooklive @baraza multipurpose cooperative on the efforts of the management at revamping the present situation and put Baraza on good stead for developmental growth.

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.

Arc. Dr. Bribena who thanked the members nationwide for their show of understanding and commitment, especially during this period appealed to them to exercise more patience, as Baraza would come out stronger after the ongoing restructuring of managerial and payment policies.

He stated that the current challenges facing the operations of the Cooperative society were a temporary setback that would not last long, adding that management in its bids to proffer panacea and ensure effective service delivery has enlisted additional two brokers.

The CEO said the enlistment of two brokers besides the existing would facilitate payment of surpluses to members, as these brokers have a shorter period of withdrawal when compared with 5-15 days withdrawal period.

Arc. Dr. Bribena stated that the new policies adopted by the management would be to the benefits of members, especially those who have made up their minds not to terminate their contributions.

He, however, added that 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.

Arc. Dr. Bribena said there was no iota of truth in the report that he was giving preferential treatment to contributors in Bayelsa even though they are more in numbers than other states.

He said BARAZA members nationwide are being treated equally by the 1984 Cooperative Act.


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