Tuesday, September 11, 2007


As the day goes by, I begin to ask myself what is the plan for Wealth Solution for its customers when people have pooled there hard earned money into the organization only to be toying with them as kids.
Initially, investments used to be 8weeks which was 4 operational weeks in the calendar but as more investor pumped money into the company they started getting sluggish with keep to commitment but the question is this…wasn’t there an agreement signed to, at the point of investing stating the time frame and the refund on cycling out?
If the answer to this question is yes, then why are they breaking such agreement and still expect the customer to continue investing when he cycles out? There is no future for such a company so my advice to those who haven’t invested …don’t and if you have invested….I wish you all the luck, after all it’s a risk in the first place.
But the ability to calculate a risk makes us smart by human definition except you are an adrenalin conscious person who loves taking risk for fun at the detriment of your resources.
I was told initially that an SMS was sent to there customers that Payment for Week 19 will start on August 1, 2007 but today they come up with another SMS that Payment starts on August 27,2007 for Week 19 and only 50% of return. August 27, has come and gone and now we deal with the fact that there office is closed till further notice.
Using the recent issues with CBN, EFCC and SEC as an excuse is inappropriate while the other Wonder Banks who have reviewed there rates have been at least consistent. To believe the reduction will not affect the customers is a lie when everybody has planned individually on how you intend to use your returns.
Bear it in mind that Wealth Solution wasn’t the only company giving about 300% Returns On Investment(ROI) so reduction by 50% isn’t right, SilverTrust gives about 300% as well and they have been consistent and haven’t reduced there ROI yet. But now there ship has capsized, the same faith has fallen upon them.
Anyway, it’s a personal decision as I always. We begin to ponder and ask ourselves, is it really worth it?. Robbing Peter to pay Paul or were they really doing legitimate business. This is a question we will never know the answer. Companies like Silvertrust Interlink and Flagship Asset Management have taken bold steps at least by trying to legalize their transaction and their company status in terms of Fund Management. This is a Welcomed development.
The question that will now linger on the mind of many, is what of Sefteg Nigeria Ltd, with there executive office and the make believe, of legality of business not to talk of WealthZone based in Gbagada doing business fund management without proper document. I believe it time for us to take the right steps and make the right decision. If we are to invest with wonder banks then let us invest with wonder banks who have taken the bold step on the right track.
Written by Adeniyi AdeOnojobi

No comments: