OBI CUBANA CLARIFIES CONTROVERSY SURROUNDING HIS TRI-CYCLE BUSINESS DEAL
Nigerian businessman and entrepreneur, Obinna Tochukwu Iyiegbu, popularly known as Obi Cubana, has released a statement clarifying the controversy surrounding his tri-cycle business deal.
Background
On December 3, 2024, Obi Cubana’s company, Enviable Group, announced a hire purchase initiative for tri-cycles (kekes) on social media. The announcement sparked concerns and questions among the public, prompting Obi Cubana to release a statement clarifying the details of the program.
What the Program Entails
According to Obi Cubana, the program is a structured hire purchase arrangement designed to empower individuals and contribute to economic growth. The program has two models:
1. Model 1: Participants purchase kekes and vehicles from Enviable Group or other sellers and hand them over to the company for management. Participants receive agreed-upon payouts over a specified period.
2. Model 2: Drivers make installment payments for the kekes and vehicles. Upon payment of the first installment, the kekes or vehicles are handed over to the drivers. Upon completion of payments, ownership transfers to the drivers.
Misunderstanding and Clarification
Obi Cubana clarified that the program is not a solicitation for public investment, nor does it involve equity returns in the company. It is merely a hire purchase arrangement.
Governance and Accountability
Enviable Group operates under strict governance principles, ensuring financial accountability and transparency to safeguard participants’ interests.
Contact Information
For further details, please contact Enviable Group’s customer service team at 07068162230.
Conclusion
Obi Cubana’s statement has provided clarity on the controversy surrounding his tri-cycle business deal. The program aims to empower individuals and contribute to economic growth through a structured hire purchase arrangement.
He wrote:
PRESS RELEASE: CLARIFICATION ON ENVIABLE GROUP’S HIRE PURCHASE SCHEME
My name is Obinna Tochukwu Iyiegbu, the Chairman of Enviable Group.
On December 03, 2024, we shared a commercial on our social media platforms regarding our three-wheeler (“Keke”) Hire Purchase Initiative/Program. This has understandably raised some concerns and questions, which we feel it is necessary to address.
We wish to clarify that the program being advertised by Enviable Group is not an investment scheme. It is a structured hire purchase arrangement designed to empower individuals and contribute to economic growth.
*What the Program Entails:*
1. *Hire Purchase Structure*: Under this arrangement, participants purchase kekes (three-wheelers) and vehicles from Enviable Group or purchases them from other sellers and hands them over to us, for management. The participants receive agreed-upon payouts over a specified period as outlined in a legally binding Hire Purchase Agreement.
2. *Our Hire Purchase Models*: We have Two (2) models. Under Model 1, the participants purchase kekes and vehicles from us, we recruit drivers, we manage the drivers and we make monthly or weekly returns to the participants. In fact, the participants do not need to purchase these kekes and vehicles from us, they can buy from other sellers and have us manage the kekes for them and remit returns to them monthly or weekly. Under Model 2, we allow the drivers to make instalmental payments for the kekes and vehicles and upon payment of the first installment, we handover the kekes or vehicles to the drivers. Upon completion of payments of the agreed sum for the kekes and vehicles, ownership transfers to the drivers.
3. *Misunderstanding of Terminology*: To be clear, this program is not a solicitation for public investment, nor does it involve equity returns in the company, it is merely a hire purchase arrangement* .
4. *Governance and Accountability*: Enviable Group operates under strict governance principles, ensuring financial accountability and transparency to safeguard participants’ interests.
While we hope this clarification resolves any uncertainties, we remain open to further inquiries or requests for additional information. Our overarching goal is to ensure that all potential participants fully understand the workings and benefits of this initiative.
*Contact Information:*
For further details, please contact our customer service team at 07068162230.We remain steadfast in our commitment to empowering individuals and contributing to Nigeria’s economic growth through innovative and sustainable business practices.
Signed:
Obinna Tochukwu Iyiegbu
Chairman, Enviable Group
Enviable Transport
