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Further to my updates on the Anti-Coronavirus Emergency Relief (ACER) General Distribution earmarked by COSON to assist members to weather the storm at this very trying period, I wish to report that on Monday, April 20, 2020, we had a technical challenge which has delayed some of the payments destined for a good number of COSON members.
On Monday, we had approved the sum of =N=9,295,000.00 (Nine Million, Two Hundred & Ninety Five Thousand Naira) which was royalty due to 1793 members consisting of the additional=N=5,000.00 and =N=16,000.00 for some members who had not received the initial =N=11,000.00 distribution.
Incidentally, only =N=4,295,000 (Four Million, Two Hundred & Ninety Five Thousand Naira) of the =N= 9,295,000 was delivered and debited to the COSON account. In other words, the sum of =N=5,000,000.00 has been ‘hanging’ in the network since last Monday. Unfortunately, the system would not deliver a report to us stating which beneficiaries had received their money and which had not. The situation needed to be cleared or some people will receive double royalties while others receive nothing.
This morning, there were several conference calls between the officials of the bank that has provided the COSON platform, their technical personnel and the COSON operatives. I participated in the conference calls. It became clear that funds meant for a certain number of banks did not go due to some technical difficulties. The decision was made to “push” the funds again.
It is our hope that the funds will get to their different destinations today clearing the way for attention to be given to those who have not yet received any payment.
I wish to apologize to all the COSON members we had given the guarantee in the last three days and who have not received their money as anticipated. They include the famous gospel singer, Mr. Buchi Atuonwu and the great highlife star, Dan Satch Opara. I want to assure every COSON member that what belongs to each of us will get to him or her.
Warmest regards everyone.

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