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N10.5Billion Loan Ruins National Clearing and Forwarding Agency
….How CEO John Omotosho Performed Rituals to Safe Company

First Bank Nigeria


The National Clearing and Forwarding Agency [NACFA], which was sold to Jorotom International Agency by the administration of ex-president Olusegun Obasanjo, under the BPE privatisation
exercise in 2005, has now come on the chopping block. The loan of N10.5 Billion allegedly secured by Senior Evangelist John Rotimi Omotosho [OON] led management of the company from Skye Bank and unbelievably mismanaged, is said to have set the company
which was formerly known as
Government Coastal Agency on the edge of ruins.
Since June last year, the fortune of
NACFA has gone from bad to worse, as the company consistently failed to meet its obligations. Even, it is equally found out that the agency which
has John Omotosho, who is said to be the deputy chairman of the Board of Trustees of the Celestial Church of Christ [CCC] Worldwide, as Chairman and Chief Executive Officer failed to service the credit facilities it secured from Skye Bank.
For close to two years now, few of the staffs of the company have received their salaries in piece meal, while over seventy percentages of the staff were not paid. And, in droves, scores of
them resigned their appointment.
While some members of staff of the agency sought for assistance in collecting their salaries from the Office of the Public Defender at the
Lagos state Ministry of Justice. Aside the workers who are being owed, our investigations revealed that some contractors are also at war with the management of the company over unpaid claims for the jobs already done and delivered. At the Office of the Public Defender, we gathered that one senior member of staffs of the company is being owed the sum of over N7Million in salary arrears.
YEMOJANEWS investigations revealed that the former Managing Director of NACFA, Mr Bolo, a French national, tendered his letter of resignation in protest of Senior Evangelist Omotosho alleged high handedness and his un-professional style of administration, coupled with lack of transparency in transactions carried out by the chairman. Also, the agency is said to be neck deep in series of court litigations.
Although, the Chief Executive Officer of the National Clearing and
Forwarding Agency, Evangelist
Omotosho, an Officer of the Order of
Niger, is believed to have strived to re-engineer and put the company on the path of growth, by engaging different grades of marabouts and spiritualists to breathe new life into the collapsing agency. And, for many months, the Creek road, Apapa, Lagos headquarters of NACFA became a ritual rendezvous.
However, we learnt that, the more he tried, the more the company sink into deeper crisis. Many of the workers told YEMOJANEWS that the rituals are never performed to save NACFA from total collapse, but, the rituals were allegedly carried out to make them forget
about being owed any salary.
YEMOJANEWS gathered that the nation’s bad debt manager, the Asset Management Corporation of Nigeria [AMCON] is now on the verge of taking charge of the company, as it has increasingly become impossible for the
management to repay the loan it took and reposition the agency. Insiders claimed AMCON may have purchased the non-performing loan from the bank.
Efforts made by this journal to get the reactions of Senior Evangelist John Rotimi Omotosho, through text messages sent to his phone numbers- 0805088—- and 0803304—- on Friday, December 6, 2013, was ignored. And, when Mr Joshua, the man who identified himself as the company secretary eventually called us the following Monday through his supposed phone line number 0802323—-, he told us that the chairman is the only person competent to speak on the matter, but which was never done.
NACFA, which touted strong financial base as its strength and equally claimed in its mission statement that it is set to redefine, develop and deliver tomorrow’s integrated logistics today, by developing its expertise and experience with excellence and commitment; partnering with clients to establish and attain set-goals with international standards and best practice is now said to be virtually winding down. Before NACFA ran into troubled waters, some of its A-list clients are Diamond Bank, Cross River State Government, Federal Ministry of Health and Hawueei.

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