IPMAN Enugu debunks call for members to revalidate shares in NIPCO Plc

The Independent Petroleum Marketers Association of Nigeria (IPMAN), Enugu Depot, says it has not called on members over any form of revalidation with respect to its shares in NIPCO PLC. Mr Chinedu Anyaso, Chairman of IPMAN Enugu Depot Community, said this in Awka on Friday while reacting to a form circulating among its members which was calling on them to revalidate their shares. Anyaso alerted that there was an illegal circular directing members to pay N20,000 each as processing fee to make them get their share dividends individually as against the bulk purchase and payment arrangement it had with the company. He said the leadership of IPMAN, under him, neither issued the directive nor was aware of it while urging his members to disregard the document and avoid falling victim to fraudulent antics. “Our attention has been drawn to a message being circulated by some persons masquerading as representatives of IPMAN, calling on members who bought shares in NIPCO Plc to pay N20,000 as processing fee for filling of purported share revalidation form. “They claim that this will enable these members who bought shares through the depot unit to be entitled to their dividends/bonuses that have accrued for well over 20 years. “I want to call on my members in Enugu depot to disregard this directive because it did not emanate from us, we are not aware of it, it is fraudulent and divisive. “No member should fall for it, our shares are still in bulk, we are still united and if any need arises, we know the best way to communicate to members,” he said. Anyaso said IPMAN leadership would continue to do everything which is legally possible to protect the interest of members. He said the association had written to the company through its lawyers to alert it about the development and for appropriate action. (NAN)