In a recent development, Flexi Group Ltd has issued an official statement in response to a police raid on their subsidiary office in Freetown, Sierra Leone. The incident, which occurred on August 23rd, 2023, raised concerns among clients and partners regarding the company’s operations.
According to the statement, the Sierra Leone police detained two senior staff members, including Joseph, on the assumption that Flexi Group Ltd lacked the necessary authorization and license from the country’s central bank to function as a financial institution. The company clarified that it operates as a trading business entity, providing a digital platform for buying and selling financial instruments.
Flexi Group Ltd emphasized that it does not accept money deposits from individuals at its office and functions primarily as a self-service platform. Clients worldwide can execute trades and manage investment portfolios through the platform’s internet-based interface.
The company expressed its willingness to comply with regulatory requirements set by the Central Bank of Sierra Leone and highlighted the challenging situation created by the detention of staff members who play a crucial role in the compliance process.
To address the issue, Flexi Group Ltd has taken immediate action by engaging with its regional offices and representatives. The company has identified a reputable law firm to secure the release of detained staff and facilitate necessary clearances from the central bank. The process to obtain the required clearance is expected to begin promptly.
Flexi Group Ltd assured its clients that their trading accounts and funds remain secure and unaffected by the incident. Despite the unexpected police action, the company is determined to address the situation efficiently and regain compliance with regulatory standards.
The management expressed gratitude for the support and cooperation of its valued clients and reiterated its commitment to serving clients with dedication and exceeding their expectations.
This incident underscores the importance of effective communication and collaboration between authorities and businesses to ensure a transparent and lawful approach to addressing regulatory concerns. Flexi Group Ltd remains dedicated to resolving this situation and continuing its mission to serve clients with integrity and excellence.
