Answers to An Email
03 June 2017

Thank you for your email.  Here’s our reply:

Q - The reason why most people put their hard earn money into floral is because of the credibility of the onlinenaira.com that floral investment partner with as a payment date way, and most of us made due consultation about this company through the onlinenaira agent about the credibility of floral and they told us that they are credible we can invest our money into it. 

A - I appreciate the fact that a lot of people investment in floral as a result of the credibility of OnlineNaira.  However, that does not pass-on to us the responsibility you have to ensure your financial transactions are legit and do due diligence to know you are sending money to the right person/business. It is a lie that OnlineNaira staff told you that Floral or other seller is credibility because the official line is not to say such things even before Floral started to use us. We cannot tell you about anyone’s credibility as we do not have the logistics to check and confirm anything anyone says to us.

When floral investment defaulted about whatever agreement they entered into with onlinenaira, the investors were not dully contacted about the decision that onlinenaira.com took to go on and close floral investment account.

Floral’s agreement with us is exactly the same agreement that you signed with us so there is nothing special other than the fact that they attracted a lot more users. It is a lie that we did not duly inform investors about our decisions before closing their books. We posted updates almost on a daily basis for everyone to see and when floral did not respond to our emails, we had to stop their activities to prevent more people paying to them.

Q - Onlinenaira told us the investors that they handle 70% of floral investment financial transaction, by implication the major financial institution that floral use should be onlinenaira.com. base on this level of relationship, onlinenaira.com cannot tell us that they don't know where floral investment company is domicile, and in the case of this development there should have been a representative that should be send to floral to verify the situation of things physically and not just taking decision base the fact that someone did not respond to the mail you send to them.  

A - Onlinenaira told us the investors that they handle 70% of floral investment financial transaction – this is a lie. We never said such a thing.

A - onlinenaira.com cannot tell us that they don't know where floral investment company is domicile – just as we asked you to certify your account with us, we also asked the person who signed up floral to certify and we have the certification details on file. We are not interested in where they reside or making efforts to know if they really live in such a place. We do not have the logistics and that is not our business.  Our business is to send money from person A to person B. It is 100% your responsibility to know who you are sending money to. Our contract starts with you when you give us the money and stops when we deliver the money. It is not our business why you sent the money or if you get the value of your buy.  However, we have a responsibility to intervene if you make a complaint and we did in this case.

Q - Onlinenaira.com told us that after closing floral account, the will pay those who send money to floral that they didn't fund floral account with, and those who send money to floral and have never receive any money from floral investment. now you guys are telling us that is only those whose money were send to floral that you were able to pay, what about those who send money and never receive any money as you promised, you can not tell us that you didn't know how much was in their account before make those gazette. 
Base on the above reasons, i must said that onlinenaira has disappointed us that made investment to floral through them.

A - When we declared Floral to have defaulted, we did say we were going to process refunds for some people and that only depended on the amount of money left in floral’s account at the time we closed their account.  We have now sent back money to all those who paid floral like a week before we closed their account and all those who paid after we closed their account.

Please do let me know if you need further clarifications as we are here, ready and able to face up to our one responsibilities.

From: Sxxxxxxx Axxxxxx [mailto:xxxxxxxxxx@xxxxxx.com]
Sent: 31 May 2017 14:31
To: info@onlinenaira.com
Subject: complain about the manner in which onlinenaira handle the floral investors.

good day,
I am xxxxxxxxxx by name and one of the investor in floral investment company via onlinenaira.com.
i am here to express my heart felt in the manner in which onlinenaira.com handle the investors whose hard earn money got stocked in floral without knowing the of return. i must sincerely say that onlinenaira.com did not act to protect the interest of the investors who invested their money into floral through them base on the following reason.

1. The reason why most people put their hard earn money into floral is because of the credibility of the onlinenaira.com that floral investment partner with as a payment date way, and most of us made due consultation about this company through the onlinenaira agent about the credibility of floral and they told us that hey are credible we can invest our money into it. 

2. When floral investment defaulted about whatever agreement they entered into with onlinenaira, the investors were not dully contacted about the decision that onlinenaira.com took to go on and close floral investment account.

3. Onlinenaira told us the investors that they handle 70% of floral investment financial transaction, by implication the major financial institution that floral use should be onlinenaira.com. base on this level of relationship, onlinenaira.com can not tell us that they don't know where floral investment company is domicile, and in the case of this development there should have been a representative that should be send to floral to verify the situation of things physically and not just taking decision base the fact that someone did not respond to the mail you send to them.  

4. Onlinenaira.com told us that after closing floral account, the will pay those who send money to floral that they didn't fund floral account with, and those who send money to floral and have never receive any money from floral investment. now you guys are telling us that is only those whose money were send to floral that you were able to pay, what about those who send money and never receive any money as you promised, you can not tell us that you didn't know how much was in their account before make those gazette. 
Base on the above reasons, i must said that onlinenaira has disappointed us that made investment to floral through them.

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Script Error Update
30 May 2017

We are delighted to inform you that we have fully recovered from the script error we had last week and all data that were missing as a result have now been restored but for the period 11 - 24 May.

Here's a reminder of what happened last week:
We added a new script to auto delete initiated deposits that were older than 24 hours, but we soon found out a mistake in the script also deleted all the payments made between two OnlineNaira users from 2011 to May 24, 2017. This is the reason a lot of our members saw a wrong balance in their account just before the weekend. This would not have been an issue if our backup was up to date, but we found it was only up to date till 11 May, 2017. We have now restored the backup we have and all accounts are correct again except for transactions that took place between 11 - 24 May. Our estimate is that we have now recovered 95% of the data we lost in the process.

If you did not carry out any transactions in your OnlineNaira account in the period affected, then your account is now up to date. However, if you notice any transactions are missing from your account during the period mentioned, please tell us what is missing and we would work with you to restore immediately.

Our sincere apologies to all those who have been affected in one way or the other, but we worked round the clock over the long weekend to ensure your transactions are not only correct, but safe. The offending script has been removed, our backups are working once again and will continue to do so for a very long time.

We are doing all to ensure you can rely on OnlineNaira to keep looking after your online transactions.

Regards,
Kayode Adesiyan, CEO.
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Script Database Reconstruction Update
29 May 2017

We would like to thank you for your patience while we recreate our database after the script error of last week. At the time of writing this update, we are like 80% done and we hope to have rebuilt our database at the end of today. After tonight, we would welcome any queries about any missing payments from your account from 11 May to 24 May.  If you did not carry out any transactions in that period, your account is now up to date.

If you sent money to anyone from your OnlineNaira account or you received money from anyone (including Floral Investment) in the period mentioned about, you may also need to get in touch with us as the money may not be showing in your account. Please feel free to avoid calling us on any of these issues as it is more effective to use Emails. When you send us an email about any missing payments, pls also send us any screenshots or emails as proof.

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Script Error Update
27 May 2017

We have been able to restore the OnlineNaira database, but up to 11 May. Pls bear with us as we try to recreate all transactions after 11 May; this we believe will require the rest of this weekend to resolve. In the meantime, withdrawals are still restricted as the missing transactions mean some users still have wrong balances.

It is important to reiterate that Floral no longer communicates with us. The last time communicated with us was 10 days ago. See our last transaction in the screenshot below.

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Script Error In Database
24 May 2017

At the time of writing this update, refunds had been done from Floral's closed account to all those who sent money to Floral after 02 May 2017. We sent back their monies because they had not received any monies from Floral and because we had the money to pay back.

However, we had a script error earlier and that created some issues in our database. The script error also meant all payments from one user to the other were deleted and most users now had a wrong account balance. Your correct balance will reappear as soon as our database is restored later today.

If you fall within the group of people due a refund, we would complete all remaining refunds as soon as our database is completely restored.

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OnlineNaira Refunds New Depositors
24 May 2017

In an attempt to reduce the pain of Floral’s default on our users, OnlineNaira has begun refunding monies to the most recent depositors. These are users who made deposits after or just before we closed Floral’s account. We will continue to pay this monies until we exhaust Floral’s closing balance.

It must be understood that this refund process is no guarantee that every new Floral Customer will get their money back. While Floral used OnlineNaira as their payment gateway, we offered our services and we processed all payments in a timely manner.

OnlineNaira cannot and is not paying any capital, principal or profits or any other payments you expected from Floral as we are not party to any agreements you signed with Floral.

We hope to complete this process by Friday, 26 May.

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Floral Investment Account Is Now Closed
22 May 2017

OnlineNaira has closed Floral Investment's Account from 12 noon today. This means Floral Investment no longer has an account with OnlineNaira and we are no longer able to process payments for them. This has become necessary for the following reasons:

1. A huge number of their customers who sent money to them through OnlineNaira have complained of breaches to the agreement they signed with Floral.
2. Floral has refused to respond to our email requiring them to take certain actions.

We have now sent Floral an email to let them know their account is closed and also to let them know how we plan to disburse their account balance.

It is important to mention here that we do not have any outstanding obligations as far as floral customers are concerned. If you have issues with floral, now is the time to contact floral on their website.

What Next?
We have now begun to reverse all payments made by Floral to users who did not send money to Floral using OnlineNaira in the first place.  This will ensure we have as much money as possible to send back to users who sent money to Floral using OnlineNaira. This process is expected to take a couple of days.

All future developments in respect of Floral would be added to this page.

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Floral Investment Update
21 May 2017

We have waited for Floral Investment to reply to our emails in which we stated clearly the actions they needed to take in order to get their account active again, but we have not received a reply from them as at 7am this morning. While we have sent them a reminder, we are here setting out a course of action should they default.

If we do not receive a response from Floral by 12:01pm on Monday, they would have breached the contract they had with their users and their OnlineNaira account would be closed. In the event of account closure, we would declare their closing account balance on this page and we would disburse the money according to the following criteria:

1. We would complete the cancellation of monies Floral sent to people who did not make a deposit to Floral from within OnlineNaira.
2. We would process a refund to people whose money has not been sent to Floral.
3. If there is any money left after processing refunds to all those whose money were not sent to Floral, we would refund all those who sent money to Floral from within OnlineNaira, but never received money from Floral.

It is important to remember that we are not Floral and were are not a party to the contract you signed with Floral when you started with them. The monies we plan to send back to users in the event of a default is only based on what we see happening within OnlineNaira. When the monies left in their account after closure is exhausted, we would no longer be in a position to payout any more monies.

OnlineNaira is a payment gateway (we send and receive money) and our contract starts with you when you ask us to send money and stops when you confirm the recipient has received the money. If the recipient decides not to honour any agreements you had with them, it is totally between both of you. This is the reason you must do due diligence before deciding to send money to anyone.

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Profit Cancellations
19 May 2017

OnlineNaira has begun reversing payments made by Floral to users who did not make a deposit to Floral from within OnlineNaira. This is to ensure there is as much money as possible made available to people who made a deposit with OnlineNaira in the event of a default. Be assured that we are monitoring the situation and we will publish further updates on this page.

If there were no issues with our relationship with Floral, we would have allowed all such Floral payments to stand. However, we are unable to allow these payments by Floral to people who made deposits to Floral using other payment gateways as we have a duty to look after the interests of those who paid Floral through OnlineNaira first.

If we have canceled a payment you received from Floral in the last few hours, then you would need to contact floral to send your money through the other payment channel you used to pay them in the first place. If Floral resumes payments by Monday, 22 May, these payments would be allowed once again.

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