How Micro Finance Company Bolted With Customers N60m Deposits

CYRIACUS IZUEKWE

It was a mixture of shock and pain in Ijegun area of Lagos after hundreds of depositors discovered that a Micro Finance Company, where they had deposited over N60m has been shut by the owners and they bolted away with their money.

P.M.EXPRESS reports that the Micro Finance company known as Precious Cooperative and Empowerment Centre, PCEC, located at Ijegun Road, Ijegun area of Lagos, suddenly closed shop and absconded with depositors money to an unknown place.

When the depositors went to the office, they discovered that the company had moved from the complex which they had rented for the alleged scam.
It was gathered that the company had lured depositors with attractive loan facility up to 50 percent as empowerment with conditions that such beneficiaries would deposit some amount of money with the company before they will given the loan.
P.M.EXPRESS scooped that the first set of depositors were actually empowered and given the loan facility, which then attracted others including their friends and relations, who trooped in large numbers to the office in order to register.
Some were said to have deposited up to N1m and above with the intention that they would realise huge profits to invest in other businesses while others were said to have borrowed money as they were promised it would mature in few weeks time.

However, when they got to the office, the company had carted away their properties which were inside the office. The depositors could only see their documents littered on the floor with their passport photographs, which they had affixed on the forms for the transactions.

Some of the depositors besieged the plaza lamenting that they had borrowed money and invested with the hope that the company was genuine only to be duped.

P.M.EXPRESS correspondent sighted the documents, which had the name of the company with the following addresses and phone numbers: PCEC, RC 907698, subsidiary of  PEPCOLE Multi-Service Nigeria Limited, Head Office, Dove Building, Area G, Water Carrington Way, Abuja. Corporate Office: 14 Evens Shopping Mall, Monraba Junction, Ilorin, Kwara State.
The telephone numbers on the documents were: 08083461510, 09016530673 and 08116761418.

P.M.EXPRESS findings revealed that all the information stated by the company were fake and decoy to look real but ended up defrauding the victims.
The alleged fraud has been reported to the Police at Isheri Oshun Division, who have moved into action in order to arrest the culprits.