TheCable

Agropartnerships, an agritech crowdfunding platform, has failed to resume payouts to its investors.

Agropartnerships is an investment platform powered by Farmforte Limited.

The company had earlier assured its investors that it would commence payments in July.

But in March, the Securities and Exchange Commission (SEC) sealed the company’s offices for allegedly engaging in illegal investment activities.

The regulator accused the company of carrying out capital market activities without a license.

Speaking to TheCable on Friday, Jessica Oladejo, customer service representative at Agropartnerships, explained that the issues with SEC have derailed the company’s plans to resume payments.

“Payment has not rolled out yet because we are trying to resolve the pending issues we have with SEC. But once we are done with that, payment will commence as planned.” Oladejo said.

In a mail recently sent to its investors, Agropartnerships said its bank accounts were placed on hold since its offices were sealed.

It said it was working with regulatory bodies to ensure all ongoing assessments proceed smoothly.

The company added that it would work with a schedule would reflect on its investors’ dashboards after settling pending issues.

“We want to thank you for your support during this difficult time. We understand the inconveniences our delayed payments might have caused you and we do not take your patience for granted,” the mail reads.

“Since our last communication, we have been working diligently to ensure our obligations to you are met. As you may have read in the media, on March 14, 2022, our offices were sealed and a hold was placed on our bank accounts.

“We assure you that Agropartnerships operates with the highest ethical standards and are cooperating with various regulatory bodies to ensure all on-going assessments proceed smoothly.

“As an organization built on integrity, we appreciate and support the mandate of all regulators in Nigeria and are confident that all concerns will be critically examined and promptly resolved.

“In the meantime, with an understanding of the urgency for payouts, we will continue to work intensely, doing all we can to ensure every pending issue is settled, after which, schedules would reflect on your dashboard and shortly after, payments will commence.”