Bodmas kemepadei has once again through his post, displayed a high level of ignorance about the operations of the Baraza Multipurpose Cooperative Society Limited as enshrined in the 1984 Cooperative bylaws, as amended.
The title Chief Executive Officer is not only restricted to Company and Corporate organization.
The 1984 Multi-State Cooperative Societies ACT AS AMENDED STATES THAT Powers and functions of Chief Executive states : The Chief Executive shall exercise the powers and discharge the functions, specified below namely; a day to day management of the business of the multi-state Cooperative society. Operating the accounts of the multi-state cooperative society and being responsible for making arrangements for safe custody of cash. He is also responsible for signing of the documents for and on behalf of the multi-state cooperative society. The chief executive officer also makes arrangements for the proper maintenance of various books and records of the multi-state cooperative society and for the correct preparation.
The Board of Trustees and members, in accordance with Act approved, endorsed and unanimously appointed Arc. Dr. Miebi Bribena as the CEO.
Also, as part of their resolutions, Arc. Dr. Bribena’s request of online FOREX Trading with members’ fund, and ploughing back of profits as monthly/yearly surpluses was granted.
Bodmas needs to be educated that Trading accounts are on individual trading platforms. Members, also, approved that Arc. Dr. Bribena should be trading with his account. This decision, since is the resolution of the meeting which had in attendance the Board of Trustees and members, is recognized in the face of law.
This has been the practice since the establishment of BARAZA over one year ago and members have no cause to doubt the integrity of the CEO except for mischief makers like Bodmas. From all indications, Bodmas is acting the script written by his paymasters without proper scrutiny. We will recommend that he should lay his hand on the copy of the 1984 by-laws in order to have an in-depth knowledge of the operations of BARAZA.
Declaration of dividends in accordance with by-law, will be done in January, 2022.