The Managing Director of Famzhi Interbiz Limited, Hajiya Mariam Suleiman has debunked insinuation that the company is a ponzi.
According to her, while ponzi is a method of collecting money from some people to pay other people, Famzhi Interbiz operates on shearing the profits from production and manufacturing.
Hajiya Mariam, who spoke to over 10,000 investors at the 2019 Annual Conference at the headquarters of the company in Kubwa, Abuja today, November 30, said that the company, which has been registered with Security and Exchange Commission (SEC), is into estate business, farming and animal husbandry, microfinance business and water production and manufacturing as well as other businesses.
She said that there are 150 people on the employment of the company, adding that since it started operation four years ago with few investors, thousands of Nigerians have joined even as it operates strictly within the law of the land.
Hajiya Mariam said that the company’s board of directors are looking into new business opportunities, with more people investing in it, even as she promised to formally declare the company’s statement of account next year after consultation with the directors.
She appealed to the investors, who turned up in their thousands, to be patient with the management over the expected changes in the way the company dispense their income.
“All such changes will be corrected in November 2020, when the company goes Plc. My appeal to the investors is to imbibe the spirit of patience. Everything will be alright in the end.”
Some groups, including students of the University of Abuja and Ebira Vabe Association honoured Hajiya Mariam for her honesty, humanitarian services and devotion to the happiness of fellow human beings.