ENCROPS MULTI-PURPOSE COOPERATIVE SOCIETY EXPERIENCING BACKLASH OF FOREX CRASH AND NOT A SCAM – CEO BRIGHT PERES CONFIRMS INVESTORS ARE BEING REFUNDED IN BATCHES.
The CEO has set the record straight that the recent inability of the organization to disburse returns on investment to investors is due to the global crash in Forex trade, Crypto currency ban in Nigeria. Nevertheless, the society has begun the refund of capital investment sums to investors in batches to over One Hundred Million Naira since May, 2021 as he calls out on investors to exercise more patience and the general public to stop peddling tarnishing rumours about the organization's activities capable of causing public unrest. The list of refunded investors of their capital investment has been released to the public on the organization's official Facebook page https://web.facebook.com/encrops/?tn-str=k%2AF to douse the tension of concerned persons and the list is hereby attached below.
Speaking further at the interview session, Mr. Bright Peres said that the organization tried to migrate online virtual office because his staff were being threatened with physical harm due to the shortfall of FOREX affecting investors returns. However, all the Cooperative social media handles are now fully functional and accessible to the general public.
Furthermore in restoring confidence on investors and the general public, the Leadership of the Society did release a resolution dated the 4th of June, 2021 on the subject which reads thus,
“RESOLUTIONS FROM ENCROPS MULTI-PURPOSE COOPERATIVE SOCIETY GENERAL ZOOM MEETING HELD ON JUNE 4, 2021
Falling from the unfavorable fluctuations that continue to affect the Online-Forex Market we trade (Volatility-75), we have struggled to meet up with regular payment of dividends to members despite our resolve to do so.
After the last effort, it has become clear that for now, until things improve, we can no longer continue with the simple interest category which earned members a monthly dividend. However, the compound interest category which spans through one year is still runs. We therefore encourage all members on the simple interest category to switch over to the compound interest category which will run on a 10% take-off dividend. This we believe will benefit everyone in the long run.
However, we are also aware that there are members who may want to terminate their running contracts with the cooperative instead. To this end, we have also worked out a capital refund schedule for everyone that may fall within this category. Below is therefore is a simple process you may need to follow to secure a termination.
PROCESS FOR TERMINATION OF CONTRACT
Visit our website @ www.encrops.com
a. click on member login
b. use your registration phone number as username
c. use encrops (all small letters) as password
d. change the default password (encrops) to any six letters of your choice
e. access your personal office and click terminate 2
For those who may not be conversant or comfortable with this method, you can visit the office and fill out a termination form.
SCHEDULE FOR CAPITAL REFUND OR REVERSAL
Giving the limitation of available funds, we may not be able to do a refund to the much that would expectedly apply for termination. For this reason, there was an understanding that refunds will be done in batches; and that what determines who gets first will be based on the strength of dividend drawn from the system. In the table below, is the proposed payment schedule for refunds.
TABLE SHOWING ENCROPS SCHEDULE FOR CAPITAL REFUND OR REVERSAL
June contributions Between 7th - 30th June 2021
May contributions Between 30th June - July 31st 2021
April contributions Between 31st July - August 31st 2021
March contributions Between 31st August - 30th September 2021
February contributions Between 30th September - 31st October 2021
January contributions Between 31st October - 30th November 2021
Once again, we like to apologies for all the inconveniences you may suffer for following this development. We also like to thank you for your patience and understanding. We shall continue to do our part to thrive as a cooperative”
Encrops Cooperative Society has its head office at Cloth House, Edepie Yenagoa, Bayelsa State, Nigeria and with official email as [email protected]
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