Wednesday, July 2, 2025
27.5 C
Lagos

“Our Repayment Plan Will Go on Despite DLM Trust Company’s Withdrawal” – Patricia Technologies Founder 

We at Patricia Technologies are shocked by DLM Trust Company’s sudden and unilateral decision to terminate our partnership. This development is coming as a surprise as we were we not informed before their public statement of withdrawal. However, we wish to assure our depositors and stakeholders, that the Repayment plan we initiated along with DLM Trustees a few days ago, will go on as scheduled.  

It must be noted that our appointment of DLM Trustees was a culmination of several weeks of engagement with the leadership of the Group including Mr. Kehinde Lawal of DLM Group and Mrs. Lola Rasaq, the CEO of DLM Trust Company up to the point of signing the partnership. During the process and the immediate aftermath of the agreement, we at Patricia Technologies have conducted ourselves with the utmost professionalism, while observing all due processes including fulfilling our financial commitments to consummate the contractual agreement.  

Evidence of this is the transfer of substantial funds to DLM Trustees as part of the planned payouts to our customers, scheduled to start from November 20, 2023.  

It is therefore astounding to us that not only has DLM Trustees chosen to renege on our agreement, but that they failed to issue us a notice, or extend the basic courtesy of a prior discussion, in stark disregard for the clearly spelt termination clause in our contract. 

More bewildering is the claim in their public statement that we broke the terms and conditions of our partnership without spelling out how. We not only categorically reject this false claim, we challenge DLM Trustees to substantiate the allegations.  

We believe this accusation is baseless, and we might be taking legal action to seek restitution for setbacks and damages incurred as a result of this attempt at defamation, if DLM Trust fails to validate their claim. 

To Our Esteemed Customers: 

We wish to assure you that notwithstanding this regrettable development, all scheduled payments will proceed, starting from the 20th as initially planned. 

This is another opportunity to show that not only are we resilient as an organization, but our commitment to you also remains steadfast.  

We sincerely apologize for any inconvenience or concern this situation may have generated and thank you for your enduring trust and patronage.  

Again, our planned repayment to depositors will proceed.  

Signed: Hanu Fejiro, CEO and Founder, Patricia Technologies 

spot_img
spot_img
spot_img

Hot this week

Stanbic IBTC Bank Nigeria PMI: Output Growth Slows but Business Confidence Rises Sharply

The Nigerian private sector remained in growth territory as...

NIA: Insurance Week Designed to Boost Industry Awareness in Nigeria

Mr. Kunle Ahmed Chairman Nigerian Insurers Association (NIA) The Nigerian Insurers Association...

NAICOM Chief: The Future of Nigeria Depends on How We Manage Risks

Keynote Address by Mr. Olusegun Ayo Omosehin, Commissioner for...

SEC Canvasses Advanced Financial Inclusion by 2030

The Securities and Exchange Commission (SEC) has stressed the...

NCDMB to Champion “Nigeria First” Policy in Oil and Gas Sector

The Nigerian Content Development and Monitoring Board (NCDMB) has...

Topics

US Oil Import from Nigeria Down 67%

The United States decreased its oil import from Nigeria by 67 per cent in 2014, signaling growing economic pain and sustained pressure on foreign reserves, already down to $29.3 billion as at April 15, 2015, its lowest point since 2010. Figures from the US Department of Commerce suggest that U.S. total trade in 2014 (exports plus imports) with sub-Saharan Africa (SSA) also went down by 18 per cent to $52.1 billion compared to 2013. “In 2014, U.S. imports from SSA decreased by 32 percent, falling to $26.7 billion and representing only 1.1 percent of total U.S. imports from the world. This decrease was mostly due to a 51 percent decrease in U.S. mineral fuel and oil imports from SSA. U.S. imports from SSA originated, for the most part, from South Africa Nigeria, Angola, Côte d’Ivoire, and Chad,” the report says.

NDIC Joins Alake of Egbaland to Celebrate International Senior Citizens Day

His Royal Majesty the Alake of Egbaland, Oba Adedotun...

NAICOM CEO, Thomas, Visits Lagos Governor, Sanwa-Olu

Mr. O. S. Thomas recently led a delegation to...

Media is Key Partner in Growth of Capital Market in Nigeria

Welcome Address by the Chairman of 2024 CAMCAN Workshop,...

Stanbic IBTC Graduates 16th Batch of Trainees

As part of its youth empowerment and socio-economic drive,...

ITU Unveils New ‘Access to Information’ Policy

ITU has started the New Year by launching a...

Africa, Middle East PC Market Declines 26% in 1st Qtr

The Middle East and Africa (MEA) PC market experienced...

Ecobank Nigeria Unveils New Premier Branch on Victoria Island, Lagos

Ecobank Nigeria has announced the opening of a new...
spot_img

Related Articles

Popular Categories

spot_imgspot_img