National Food Buffer Stock to hold emergency meeting over debts owed suppliers

The National Food Buffer Stock Company has noted that it is holding an emergency board meeting to discuss matters concerning its indebtedness to suppliers.

The suppliers have been picketing the premises of NAFCO since Tuesday, July 4, 2023, to demand payment of over 2 years’ arrears owed them.

NAFCO, in a statement on July 6, said it “acknowledges its indebtedness to its cherished suppliers. The company sympathizes with them in this unfortunate situation they find themselves in which has compelled them to picket at our head office premises. The company is equally concerned about their plight and appreciates their patience.

“An emergency board meeting has been scheduled on the situation and the outcome including a possible roadmap for resolution will be shared thereafter,” parts of the statement read.

A spokesperson for the National Food Suppliers Association Koku Amedume, stated that they need NAFCO to pay their debts as soon as possible or risk the closure of schools.

“The pressure on us at home is massive. Most of these people go to contract loans from banks with huge interests with the sole aim of supporting their business and engaging in this supply business.

“Buffer stock had taken supplies from them for two years, for two years we have not been paid,” he said.

SSD/DA

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