Encrops Multi-purpose Cooperative society, a
reputable, leading, and reliable Bayelsa-based business
organisation duly registered with the Bayelsa cooperative bureau,
has successfully paid the sum of 30, N30,445,000,
to not less than 85 persons who are its members.
![image](/2020/10/lawreport.jpg")
![image](/2021/06/Legal-Research-On-The-Go2.jpg")
The company also resolved to suspend the simple interest
category payment which it considers to be for the interest of the
cooperative as well as to its members.
![image](/2021/05/NBASBL2021.jpg")
This resolution was informed after an intensive General Meeting
held via zoom on the 4th of June,2021, made available to
newsmen.
During the deliberation, the Board resolved that sequel to the
unfavorable fluctuations that continue to affect the Online-Forex
Market, Encrops Multi-purpose Cooperative society,
(Volatility-75), has struggled to meet up with regular
payment of dividends to members.
“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 running. 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.
Encrops Multi-purpose Cooperative society, also provided
procedure to follow to secure a termination from the cooperative
and these steps are below:
PROCESS FOR TERMINATION OF CONTRACT
1) Visit our website @ www.encrops.com
- click on member login
- use your registration phone number as
username - use encrops (all small letters) as
password - change the default password (encrops) to any
six letters of your choice - access your personal office and click terminate
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
The CEO, Encrops Multi-purpose Cooperative
society, Bright Peres, In an interview
with MC Blast, debunked the
rumor that he absconded because the organsiation could not meet up
with the 40 percent interest and there is likelihood that the
company might shutdown.
He said that Encrops Multi-purpose is the first cooperative to
give 40% to its members, which is done in full and the company has
never reneged in paying as at when due.
However, he lamented at the declined rate of forex, crypto and
bitcoin currencies, which has also brought some challenges to the
company, hence, the Board resolution to suspend payment of Monthly
interest rate.
He also assures the general public that Encrops Multi-purpose
Cooperative Society, is very much in operation and calls for more
investors.
Encrops Multi-purpose Cooperative
society, sincerely regret all the
inconveniences it’s members may have suffered following the recent
development.
“We also like to thank you for your patience and understanding.
We shall continue to do our part to thrive as a cooperative,”
Peres, said.
Encrops Multi-purpose Cooperative society, a
reputable, leading, and reliable Bayelsa-based business
organisation duly registered with the Bayelsa cooperative bureau,
has successfully paid the sum of 30, N30,445,000,
to not less than 85 persons who are its members.
The company also resolved to suspend the simple interest
category payment which it considers to be for the interest of the
cooperative as well as to its members.
This resolution was informed after an intensive General Meeting
held via zoom on the 4th of June,2021, made available to
newsmen.
During the deliberation, the Board resolved that sequel to the
unfavorable fluctuations that continue to affect the Online-Forex
Market, Encrops Multi-purpose Cooperative society,
(Volatility-75), has struggled to meet up with regular
payment of dividends to members.
“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 running. 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.
Encrops Multi-purpose Cooperative society, also provided
procedure to follow to secure a termination from the cooperative
and these steps are below:
PROCESS FOR TERMINATION OF CONTRACT
1) Visit our website @ www.encrops.com
- click on member login
- use your registration phone number as
username - use encrops (all small letters) as
password - change the default password (encrops) to any
six letters of your choice - access your personal office and click terminate
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
The CEO, Encrops Multi-purpose Cooperative
society, Bright Peres, In an interview
with MC Blast, debunked the
rumor that he absconded because the organsiation could not meet up
with the 40 percent interest and there is likelihood that the
company might shutdown.
He said that Encrops Multi-purpose is the first cooperative to
give 40% to its members, which is done in full and the company has
never reneged in paying as at when due.
However, he lamented at the declined rate of forex, crypto and
bitcoin currencies, which has also brought some challenges to the
company, hence, the Board resolution to suspend payment of Monthly
interest rate.
He also assures the general public that Encrops Multi-purpose
Cooperative Society, is very much in operation and calls for more
investors.
Encrops Multi-purpose Cooperative
society, sincerely regret all the
inconveniences it’s members may have suffered following the recent
development.
“We also like to thank you for your patience and understanding.
We shall continue to do our part to thrive as a cooperative,”
Peres, said.