Irked by growing debts, Association of Nigeria Courier Operators (Anco), the umbrella body for courier companies in Nigeria has threatened to publish the names of the indebted company registrars in the newspapers if they do not pay up their debts soon, Nigeria CommunicationsWeek has learnt.
Courier companies get most of their bulk mails from company registrars, especially in the distribution of notices of annual general meetings, share certificates, dividend warrants, etc.
Toyin Olufade, president of Anco said that such accumulated debt is killing the courier industry in Nigeria.
This is coming as Simon Emeje, head, Courier Regulatory Department of Nipost, urged courier companies to tie all contractual knots before they accept any offer.
Nigeria CommunicationsWeek gathered that courier companies are groaning as payment for over 90 percent of the jobs done for bank registrars months after, are still outstanding.
Registrars however said that the debts were still hanging because of the effect of the banking tsunami, as banks run in various directions to mop up balance sheets.
Further investigations revealed that insider transactions, off record arrangements between courier companies and secretaries of registrars, are some of the other reasons why such registrars owe courier companies.
Sometimes rates at which some of the services are given out to courier companies are at variance with industry standards.
