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| COMMINGLING OF NIDO FUNDS: Demand to Reimburse $7, 500.00 |
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COMMINGLING OF NIDO FUNDS: Demand to Reimburse$7, 500.00
Dr. Ola Kassim
Board Member, Region 7
August 19, 2007
Dear Dr. Ola Kassim,
On July 31, 2007, based on your instruction, the amount of $7,500.00 (Cash) belonging to NIDO Americas was collected by one Mr. Femi Jaiyeola (your personal assistant) on behalf of NIDO Americas, Inc. The amount represents the total amount owing to NIDO Americas Inc. for the full-page advert placed by NEPZA in the Event Brochure for the Nigeria Worldwide Diaspora Conference held in Toronto, Ontario, Canada from Jan. 18-20, 2007. The ad and amount paid were solicited and negotiated by the Conference Brochure committee of the Board.
In continuation of a letter previously sent to you advising that all monies collected on behalf of the organization be deposited into authorized account of the organization; which was ignored; the issue was presented to the Board of NIDO Americas, Inc. in a meeting held on Sunday August 19, 2007.
The Board is mindful of its responsibilities to ensure transparency, maintain the integrity of the organization, and ensure that the image of the organization is not jeopardized. Therefore out of the sense of duty and fiduciary responsibility of the board, we have no option but to insist that best accounting practice standard must be followed at all times.
As a result, in an unanimous resolution moved by the Board of NIDO Americas, Inc. you are hereby given 7 days to reimburse the total amount of $7,500.00 and all accrued interest (if any) to the authorized account of NIDO Americas, Inc. in Washington DC.
Failure to comply with above resolution will compel the Board to pursue other collection option without further notice.
Regards,
Victor Ozieh PhD
Secretary, NIDO Americas, Inc.
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