Bara Finance and Investment Limited Capital Recovery

On 28 June 2021, the Nigerian Securities and Exchange Commission, working with the Office of the Attorney-General of the Federation, secured a conviction (read court judgment and sentence here) of Bara Finance and Investment Limited for violating Section 54(6) of the Investment and Securities Act, 2007.

No pronouncement was made by the court on the SEC’s request for the convicts to refund all outstanding monies due to their “investors”.

No reference was made to Creative and Innovative Agricultural Cooperative Society Limited, which is a subsidiary of the convicted company working hand-in-glove with them on their “investment” programs.

We felt that something was not right and that the matter should not end there.

The law requires that restitution be made to the victims of this crime. No restitution has been ordered.

Working with our partner law firm to intervene with the SEC and the Federal High Court for restitution/compensation to verified depositors/investors, we have obtained an order from the Federal High Court to freeze the accounts of Bara Finance and Investment Limited, Ede Agida Peters, Olom Ojebong Jacob and Creative and Innovative Agricultural Cooperative Society Limited in all Nigerian banks and financial institutions, particularly, the banks through which they received deposits from the public. You can read the order here.

This order is a prelude to an application we have filed before the court to confiscate the funds in those accounts and order a refund to the investors we are representing.

This is a limited duration offer to anyone whose funds are tied up in Bara Finance and Investment Limited to join the above intervention so we can try to get your money back for you.

We offer no guarantee of a full, partial, or any recovery at all. All we offer is a good faith effort to see that you recover as much of your investment as humanly possible.

The cost outlay for this recovery is huge. While we would have loved to undertake this task without asking claimants to pay anything upfront towards the cost of recovery so that our fees come out of any sum(s) recovered, our resources are currently overstretched by ongoing efforts to recover monies lost by investors in several other “investment companies”.

For us to do this task effectively to have a chance of success, intending claimants must contribute towards the cost of the recovery.

In the circumstances, we will require intending claimants to:

1. pay a non-refundable administrative charge of Twenty-five Thousand Naira (₦25,000.00) as your contribution towards the cost of the recovery; AND
2. make a written commitment to pay us 15% of any money we recover on your behalf.

This offer will lapse on 31 January 2023, after which, the window to join this intervention will close.

We anticipate that the recovery effort will take 3 – 6 months, with an upper limit of 12 months. We will need your written authorization to act on your behalf. You can give it by proceeding to the next page and giving us some transactional information.

If this is acceptable to you, indicate below by providing and validating your email address and proceed to the next page to give us additional information with the link you will receive in your provided email address.

Authored by Oyintare Dite-Ojoko
Chief Operating Officer
RecovaDebt Limited