Chinmark Group Calls For Calm Amid Public Fear

The management of Chinmark Group has urged its partners and investors to remain calm as they attend to issues pertaining to their investment with the company.

The management reminded them that their money is safe and that, despite the current hitches, they are working hard to get the needed regulatory backing from the Security and Exchange Commission (SEC).

According to businesspost.ng, the company sent a message on their official website urging partners and investors to remain. The organization said it was working hard to "comply with government regulations for quality control and assurance."

The firm reminded all that since it commenced operations, it has always met the expectations of its clients and promised not to disappoint this time around.

The Chinmark Group, which operates the more popular Chinmark Investment Scheme and the Chinmark Investment and Loans, is a financial product not recognized or regulated by the Security and Exchange Commission (SEC) of Nigeria.

Just last month, especially after the SEC warned members of the public to desist from the company and its associates, rumours went flying that the company was involved in a Ponzi scheme aimed at enriching the company owners.

This panic led to a situation where it couldn’t pay its investors, thereby creating fear that investors’ and partners’ money had gone down the drain.

Chinmark said its partnership arm would be off "for a short period of time which will not exceed 45-60 days."

However, it stressed that all its offices remain open for business activities, urging its partners to "kindly support the smooth running of all our businesses during this period to enable us to pass through this phase and remain as strong as ever."

Below is the full statement from Chinmark:

"We want to thank you for your support in the growth of the Chinmark Group.

"Over the years, we have been able to set up businesses that have spread throughout Africa, Asia, and other parts of the world successfully and create sustainable means of livelihood for over 4,000 individuals working with the Chinmark Group.

"You will recall that since the commencement of the company, we have successfully built a track record of excellent and quality customer service delivery. We have never disappointed, and we promise not to disappoint you now.

"However, the Chinmark Group wants to reassure all its clients that there is no cause for panic as the partnership arm is taking all the necessary measures to ensure the system starts working again and more effectively.

"We wish to inform all our partners that we are working efficiently to comply with government regulations for quality control and assurance.

"These processes are currently affecting the activities of the partnership arm of the company for a short period of time which will not exceed 45-60 days.

"All our offices are open and activities are running. We implore you, our partners, to kindly support the smooth running of all our businesses during this period to enable us to pass through this phase and remain as strong as ever.

"Panic and unrest will affect the businesses that generate returns for the sustainability of the partnership arm.

"For further enquiries, don’t hesitate to reach us via our official email address,http://[email protected]. A follow-up email will be sent periodically to our clients who are affected within the period of this process to update them on progress made.

"Thank you for your patience and support as we are committed to serving you better."