Recall my last update on 23 June 2022, where I provided a list of claims received as at 31 January 2022.
The comments and emails sent by some creditors indicated that we somehow omitted many claims that were submitted before the deadline. For others, there were discrepancies between the amount(s) they were claiming and the amount(s) we captured for them.
The omitted and incorrectly captured claims have now been uploaded to the list at https://ojokoandojoko.com/bfnl-pre-verification-list/. Those who sent messages and emails about corrections to the list can now check to confirm that their details have been captured.
We are still receiving and processing emails about omitted claims almost on daily basis.
The list will be updated as the emails come in, but we will have to stop at some point so that the auditor can conclude his task and give us a final list of verified claims. Once the auditor releases his report and we publish it, we will not take any more claims for omissions or corrections.
Some creditors have sent personal messages to me and made comments on our Facebook wall asking when payment will start.
We cannot give a definite date for payment because all assets have not been sold, especially assets like the landed property at Lugbe and Orozo in the FCT or the content of the pharmacy at Zaria. Also, the trucks at Kano have not been sold. Recent insecurity on the Abuja-Kaduna highway has prevented us from commuting to Zaria or Kano to effect a sale of these items.
We are still experiencing challenges with securing the complete title documents to the property at Lugbe, without which we cannot sell it. The EFCC is on the matter, and we hope for a timely resolution.
The EFCC has also assisted us with recovering two (2) vehicles that were gifted out by Mr. Phillip Paul Akor, namely, a Toyota Landcruiser and a 2015 Toyota Camry, and
N8.2m in cash. The cars will be put on sale and the proceeds added to the funds for distribution to creditors. Other recoveries are ongoing.
Once SUFFICENT ASSETS are sold that can sustain part payment to ALL CREDITORS, payment will start.
We do not intend to pay some creditors and leave others to wait. That would not be fair.
An equal percentage of the debt owed to each creditor (the percentage will be determined from the amount of available funds) will be paid to EACH CREDITOR at the same time once there is enough money to achieve this. For instance, if 10% is to be paid to each creditor in the month of September 2022 (note: this is just an example), a creditor who is owed
N50,000.00 will receive N5,000.00, a creditor who is owed N500,000.00 will receive N50,000.00, and so on.
As other assets are sold, more money will be paid to each creditor at the same time on an equal percentage basis until all assets are disposed of and the proceeds are distributed.
The date when payment will start will be communicated to all creditors via this and other media.
Creditors whose names were omitted from the initial list should use this link to confirm their names and claims data: https://ojokoandojoko.com/bfnl-pre-verification-list/
PLEASE NOTE AGAIN:
1. This list is not the final list of creditors who will be included in the scheme of repayment.
2. The FINAL list will be published AFTER the auditor has finished the claims’ verification. Due to the new names given to him, the verified list is not likely to be ready in August as earlier announced.
3. The amount set against each creditor’s name MAY NOT be the amount to be paid at the end of this winding up as the claims are still being verified by the auditor.
4. The final sum to be paid to each creditor will be based on the sums raised from sale of assets and the final tally of verified creditors which will determine what sustainable, equal percentage can be paid to ensure each creditor gets something.
5. The assets valuation report has given an indication of what may be realized from the sale of assets. If the auditor’s report shows that the total claims exceed what is realizable from the sale of assets, the law requires me to take some important procedural steps in the winding up petition at the Federal High Court. I will give more information on this once I receive the auditor’s report.
6. Before taking these steps, I will convene a creditors’ meeting (to hold via Zoom) to brief creditors on the steps to be taken and other matters arising.
7. If you submitted your claim before 31 January 2022 but your name was still omitted from the updated list, kindly send an email to [email protected] or call Ibipribo on +234-803-730-8929 (Whatsapp: +234-701-989-8748) with proof that you submitted your claim before 31 January 2022. Your claim will be included if the
proof is satisfactory and if you submit your request for inclusion before the auditor publishes his report.
8. Calls made or emails/messages sent on weekends or public holidays will not be attended to till the next working day. Calls or messages on this subject to my personal number via Whatsapp, Telegram, Facebook or any other channel will NOT be attended to at any time. Please use ONLY the contact details provided at (7) above for any inquiries.
9. Please ignore any messages you may receive from any other source other than my firm regarding the timing or amount of any payment to be made to investors. DO NOT join any Whatsapp, Telegram Facebook or other social media groups which claim that they will assist you process your refund. The only group authorized to speak on this winding up is the one set up by my office, which link was sent to you when you submitted your refund claims to my firm. DO NOT pay any money to anyone to assist you get your money back. DO NOT let anyone steal your money. As long as your name is on the final verified list, you will receive some money when investors are being paid. You do not need to do anything else to get your money.
10. Once again, this is the link to the updated list: https://ojokoandojoko.com/bfnl-pre-verification-list/
Thank you for your attention.
Emeka D. A. Ojoko ACIArb, ABR, FIDR
Provisional Liquidator of Benignant Forte Nigeria Limited
25 August 2022