Regulatory Alerts2016-12-30
Notice of Meeting with Directors and Sponsored Individuals of TransGlobe Investment and Finance Company Limited
The Commission has summoned the directors and sponsored individuals of TransGlobe Investment & Finance Company Ltd to address five unresolved complaints exceeding N300 million. Following failed preliminary correspondence via the Managing Director, the regulatory body requires a formal consultation to resolve these outstanding financial grievances. This meeting will facilitate direct deliberation between the company's leadership and Commission officers to implement corrective measures for all pending issues.
The Commission is investigating various complaints against Transglobe Investment & Finance Company Ltd, a company of which you are Directors and sponsored individuals. In a bid to resolve the complaints, the Commission had exchange several correspondence with your company through the Managing Director, but your company has failed to resolve the complaints. As at July 2016, there are 5 unresolved complaints still pending against your company involving over N300, 000,000.00 . In view of your position as Directors and sponsored individuals of Transglobe Investment & Finance Company Ltd, the Commission hereby invites you to meet with its officers in order to deliberate on ways of resolving all the outstanding issues.