Returns Market Multipurpose Cooperative Society Limited, a five-year-old corporation with headquarters in Port Harcourt, Rivers State, says it is out to boost industrialisation in the South-South geopolitical zone to help transform it to an economy beyond oil. The group says it is about to go beyond the region to other parts of Nigeria.
Walter Oyubu, the group’s president, who addressed an audience in Port Harcourt, disclosed surveys that he said revealed that the group, through careful management of investment funds, has impacted between 150,000 and 250,000 lives in the past five years.
The five new companies unveiled in Port Harcourt on Monday, May 3, 2021, include Returns Wipe Limited (dealing in transport, city ride, courier services, etc); Returns Security Services Limited (industrial security services); Returns Housing Limited (property management, real estate consultancy, real estate development); Returns Consultancy Limited (fund management); and Returns Industry Limited (production of goods such tissue papers, toilet rolls, etc).
Two senior managers of the company, Afolabi Femi and Dimabo Enoch Pepple, who unveiled the new firms said the aim was to create more avenues to give traction to the funds being invested into Returns Market by members and to diversify the group’s asset base.
Oyubu told the members and guests that Returns Market Multipurpose Cooperatives Society Limited, which has been making waves in the face of crash of most others, has found the technique of growing big despite economic difficulties.
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He said it was important to reveal how the group makes the money it pays out as profit to create investor-confidence even as the group has opened offices in Owerri (Imo State) and Uyo (Akwa Ibom), with plans to open in Asaba (Delta), Yenagoa (Bayelsa), Lagos and Abuja.
“Returns Market Cooperative Society Limited has been a story of success in the past five years. There has been no problem so far over payment of dividends every month; no police case, no court case, nothing. Everyone who has done business with Returns Market has got his/her dividend when due,” Oyubu, a business finance expert, said in his keynote address.
He cited the example of Switzerland, which he said does not have any natural resources but uses the finance market as the resource to fund any business.
Oyubu said aside from politics and oil production, the South-South region appears not to have anything to offer.
“So, the vision is seeing an industrialized South-South which is possible by funding through the finance market. Today as we speak, Returns Market, by the special grace of God, has been able to work with industry experts to set up these industries. We have individuals that partner with us. They have invested their money and have used their proceeds to set up businesses. Some invest in us and use the proceeds to pay salaries and stabilize their businesses. One such company has now opened a table water plant, gas plant, tissue paper factory, bakery, and plastics company. A real estate business is to come,” he said.
He said Returns Market is the first cooperative society in sub-Saharan Africa that showcases proof of profit.
“We have different sectors where we invest and the number one is trading and investment on the New York Stock Exchange Market, in the European Stock Market, and Asia Stock Market,” Oyubu said, adding the commodity market.
He said part of what has kept the company for five years is commitment to service delivery.
“Nobody here will ever complain for his ROI because we are well organized when it comes to that area. That is why our finance team is the best, topnotch people,” he said.
Another thing that has kept Returns Market in business, he said, is that the company has a world-class banking instrument that market makers use to analyse the market.
“Once you have these decision market makers which are not open to everyone in Africa, you can be confident,” he said.
Oyubu said Returns Market has moved a bit away from finance to other sectors such as industry, logistics, security services, real estate, etc.
He said as a proof of its uprightness and integrity, Returns Market will in less than two months show investors how it has used their money to make money in the finance market.
“The event will take place in the head office. We will showcase how money is made in the market and the press will come in and cover it live,” he said.
“Talking about investment confidence, Returns Market is sitting on assets worth billions of naira and emergency funds worth hundreds of millions of naira. This is not an ordinary company. In Port Harcourt, we have dominated the market, I can tell you for free. Reason is because we understand the nitty-gritty when it comes to finance. That is why we are here,” he said.
Elizabeth Chidi-Wike, Rivers State Director of Cooperatives, gave the rules guiding cooperative societies and assured that her ministry is monitoring all cooperative societies in Returns Market.
Emeka Anyanwu, a financial intelligence expert, urged people to create a financial plan after acquiring financial intelligence.
