Since the Bola Tinubu came on board over a year ago, the Naira Dollar exchange rate has been running on a shaky pedestal, making it extremely difficult for businesses to thrive, especially transportation.
Among businessmen and investors affected by this current exchange rate is an automobile dealer, Comrade Sholanke who invested heavily in the transportation business with over 1,500 investors transacting business with his company legally.
Comrade Solanke who is also the Chief Executive Officer (CEO) of “Plan for Tomorrow Investment Company”, has now appealed to investors of the company to give him till 24th December 2024 to settle debts owed all the investors doing business with his company.
Narrating his ordeal at a Press conference held in Ibadan, Comrade Johnson Sholanke who is also the Chief Executive Officer of the popular online Television Platform, Ogo Osupa TV said his company ran into troubled waters due to unstable foreign exchange rate which has made the cost of purchasing cars from overseas to skyrocket,
and has put a serious strain on investors’ money, thus plunging the company into a debt crisis.
He lamented that the company is currently struggling to pay over 800 investors who are on the 6 months and 12 months modes between now and December 2024.
While soliciting the continuous support and patience of the numerous investors ,Comrade Sholanke explained that the company was compelled to shut down its offices due to an attack on two members of staff by angry investors.
” Transportation Business is a lucrative business and the company was doing wonderfully well until the situation went beyond control due to unstable exchange rate.
This Press conference became imperative so as to inform our esteemed investors of the challenges we are currently facing and our proposed solutions to the problem”
” We are assuring our investors and buyers that the company and its management will not abscond due to the current situation.’
Mr. Solanke has in the meantime appealed to the investors to give the company 6 months to resolve its current crisis arising from the exchange rate.
He confirmed that the company is currently owing 806 investors with a view to paying them or before 25th of December 2024.