The management of Titan Farms Multi-Business Investment Limited has disclosed that the sum of N196 million naira has been paid to some of their investors in the month of January.
According to the payment spreadsheet obtained from the company’s CEO, Engr. Gbenga Eyiolawi, 87 names with N196,827,000 have been settled, 43 investors were paid in cash, 42 investors with products and 2 investors were settled with both cash and products.
It should be recalled that the company had earlier claimed to have paid N550Million between July to December 2021.
In an investigation by our correspondent after receiving complaints from some of their investors. An investor, named “Tosin”, had on the 24th of January, 2022 wrote to Ibadan Media to help her investigate her unpaid investment with the company.
Tosin, in her message, said, she invested N1,000,000 with the company, and yet to receive a kobo from the money invested, she also claimed that there was an issue along the line, and the case is in court and awaiting trial on Feb. 28, 2022.
The case was confirmed to be a case of assault on Titan Farm staff by the person who came to pick products on her behalf, later claimed he was provoked. A matter that has since been settled mutually between the parties and will withdraw the matter in court.
While contacting the company’s CEO, Gbenga said, Tosin’s investment with the company is N1m and has been fully settled as both parties have settled amicably by apologizing to each other. “Titan is a family after all and I am sure no one meant for things to go that way”, he said.
He also noted that the lady and the company are on good terms now, she has been previously paid in yam flour before, and the remaining N600,000 was part of the money that was paid in the month of January which is part of the January list in the spreadsheet, and also promised to send the receipt of the payment made to her account.”
“As a matter of fact, in the month of January 2022 alone, 87 investors have been paid, I will send you the spreadsheet that has the detailed information of the investors and how much was paid to each of them” Gbenga added.
He also pleaded that the list of the January beneficiaries should be published, so it can serve as an assurance for others who are yet to be paid.
“Some of the investors are sponsoring fake news and reports against us, saying we’re lying about the payment, for this reason, I will love it if you can publish the list of the January beneficiaries (of course with their consent) since they are the ones who asked you for investigation”. Gbenga pleaded.
To confirm if she has been truly paid as claimed by the company, our correspondent contacted Mrs. Tosin via phone call, after 7hours of no response to WhatsApp messages, and she begged to call back as she was very busy as at the time the call came in, as, at press time, we are yet to receive a callback, nor WhatsApp reply from her.
While calling some of the other numbers on the excel sheet, one of the investors (pleaded anonymity) confirmed that She invested N1.6million, and the company has given her product worth N1million and promised to pay the balance of N600,000 by March 2022.
Another investor, named Busayo said the quoted money was paid in December and not in January as refer to by the company.
Another investor on the list who said she’s one of the highest investors with Titan farms, said, she and her husband invested 22million naira.
According to her, “I can confirm to you that I have been fully settled and I don’t have an issue with them anymore, some of our investment was paid in cash and some with products.
“Though I’m not the only investor with them, but, I’m one of their highest investors”. She concluded.
