According to one of them, NAHCO Thrift was set up almost immediately the company was established to solve some of the financial problems of employees who register with the scheme.
Former staff members of NAHCO Aviance, a Nigerian Aviation Handling Company, had alleged misappropriation of funds by the management of NAHCO Cooperative Multipurpose Society Limited, a department in the organisation.
According to one of them, NAHCO Thrift was set up almost immediately the company was established to solve some of the financial problems of employees who register with the scheme.
He said though the cooperative society is voluntary, about 75 percent of the staff members are part of the society due to the benefits attached to the scheme.
He, however, told SaharaReporters that the scheme has become a nightmare for the workers whose salaries get deducted by a particular percentage but they don't get anything in return.
He said, “It is about a thrift cooperative society running under NAHCO Aviance, the headquarters is situated at Murtala Muhammed International Airport, Ikeja. While 75 percent of the entire workforce of NAHCO Aviance belong to this society which qualifies them as a member due to the monthly reductions/contributions from their salaries, it is voluntary.
“The thrift ought to be a friend in need but the reverse is the case for NahcoThrift as people don't get loans as and when due. This caused many of the staff members to opt out and source for financial assistance somewhere else.
“The main issue here and our concern is the money they have deducted from our salaries over the years, they have not paid us, especially for those of us who have left the thrift. As I as speak to you, over 100 staffers (present/former) of the organisation have still not been paid their contributions worth over N100 million.
“I think this a scam of the highest order that needs to be investigated and exposed. I'm equally one of the victims. I left the organisation and resigned my membership from the thrift last April but I haven't been paid a dime out of my N1.4 million despite following all the necessary procedures. There are many others with a similar experience.
“NAHCO Aviance was incorporated on December 6, 1979 as an aviation servicing company. The thrift is as old as NAHCO. When I came into the organisation in October 2004, the thrift was already in existence. It is registered under the Lagos State Cooperative Thrift Society. The real name is NAHCO Cooperative Multipurpose Society Limited. The address is NAHCO Aviance House, Murtala Muhammed International Airport, Ikeja, Lagos.
“We are dying in silence with our hard-earned money stuck somewhere without an explanation or when we're going to get it. I joined the thrift sometime October 2005 and I resigned on 30th April 2020. With my total savings of N1,4680,000, not even N100, 000 has been paid to me.”
According to him, the affected persons wrote to the society to seek explanation about their money and if there are plans to pay back the money but there has been no response.
He said they hired a lawyer to write the group twice and the letters were acknowledged but with no definite response on the issue.
“There's a response to the first letter written by our lawyer in which they acknowledged the receipt of the letter and said their lawyer will get in touch with ours and see a way to settle amicably but when they failed to do that, our lawyer wrote a second letter as a reminder. The second letter was not responded to till now, that's always being their practice,” he said.
Another affected person, who spoke with SaharaReporters, said the cooperative society was set up to help staff members quickly complete financial intensive projects by making loans available to those who are part of the scheme.
He, however, said the thrift managers have probably misused the funds as he was never a beneficiary of this.
“The way the thrift works is, they deduct a particular percentage from one's salary every month, so far you are part of the cooperative society. Then, let's say you have N1 million there and you need N2 million urgently, they will lend you, after looking at your basic salary and all. They will check how they can deduct from it, so you will pay off the debt while still having something to take home to your family. This sounds good and we subscribed to it but it has not been like that.
“I never benefitted from their loans and I resigned from the company in April 2020, but to get back my money in the cooperative society has been a problem. I have about N1 million there and I have not been able to retrieve it.”
The duo told SaharaReporters that the company's silence on the issue is worrisome as there have been no explanations on the reason for the delay.