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  The Liberal and Variety Website
  PRESS RELEASE
 

                 
CLARIFYING MY STAND ON GENEX AND ALLIED MATTERS                                                
 

'There are no new truths, but only truths that have not been recognised by those who have perceived them without noticing them'. -Mary McCarthy.

                                                   
                                                      Introduction

A current disturbing trend, especially in Nigeria, is that internet businesses are almost generally viewed with suspicion, and anybody who trades especially in digital currencies, is often mistaken to be a fraudster or scammer because internet businesses are still often misunderstood, due to the actions of some fraudulent people. But just as I pointed out in the ARIES DYNAMICS section of my website, just as we have in offline activities, in internet activities, there are good, decent and responsible people who use the internet for positive and constructive purposes, and there are also bad people who use same for sinister purposes. By the special grace of God, Ajibola Luqman Olagoke, is one of the good, decent and responsible people who use the internet for positive and constructive purposes.

I am essentially a writer, and I do most of my writings for people over the internet. I write rather extensively, typing on my laptops for long hours almost everyday and night, both as a hobby and as a business. Many of my manuscripts and other literature works can be easily found on my laptops and other devices. 
By the way, starting from my university project which I composed, typed and edited by myself, my own intellectual activities on my laptops, stand in direct contradiction and rebuttal of the wrong negative impression that many people have about the ownership and use of laptops especially by male youths, including the way some security agencies almost habitually display laptops in front of both alleged and real fraudsters as if to cast the device in the image of sinister or diabolic instruments. I want to confidently assert, that there is hardly any serious writer or editor with international reach in our present world, who can perform optimally or comfortably in this field without the use of laptops. Laptops are therefore, not only legitimate assets for people in many illustrous fields, but also very necessary and unavoidable devices.
My connections with digital currencies became necessary, and came about, whenever I write or edit for people or organisations who are located abroad, and who chose to pay me in digital currencies, or local clients who chose to pay me in digital currencies. So, once I am paid in digital currencies, it's either I exchange it to our local currency or I trade with it on exchanges for profit, or I even hold it and wait for it to appreciate in value. This is the simple explanation of the connection between my writing business and digital currencies.


1. I came across Genex on the internet, and this was sometime around December 2016. I took interest in the exchange and payment outlet called 'Genex' (proper name is Genes Scientific Nig Ltd as stated on their CAC registration) because I was looking for a reliable online outlet where I could be buying and selling digital currencies. Prior to this time, I used to buy and sell digital currencies with Naira4dollar, but I was not very satisfied with their services, and I didn't want to rely on only one exchange. So, I hoped to find better services and an additional trading outlet in Genex.

2. In January 2017, I found out that there was a WhatsApp group for Genex and so I joined it. Through the chats in the group, I got to know more about Genex.


3. Then, I also found out that one could buy and trade Bitcoin with them for profit, and so, after taking my time to make enquiries in the WhatsApp group about Genex products, in around  May 2017, I bought a Bitcoin package called Piggy Mini, which was the smallest package on offer, and I bought Piggy Mini because that was the package that I could afford to buy.

4. So, we were being paid profits according to the Bitcoin package we bought from this exchanger. 

5. I was known to be quite vocal with questions and constructive contributions in the WhatsApp group. When I first joined the WhatsApp group, I used to ask a lot of questions in my bid to understand what Genex was all about, just as I used to voice out opinions. So, with time, I became quite prominent in the WhatsApp group. Eventually, I was made one of the forum moderators in the WhatsApp group. 

6. As the WhatsApp group grew in number, it was moved to a Telegram group in which I was also made a forum moderator or admin. A forum moderator or admin was, of course not a staff of the GeneX exchanger let alone the owner. A forum moderator or admin was just there to moderate forum conversations. That's all. In fact, in many Whatsapp or Telegram groups, a person being made a moderator is just a way of distinguishing persons who are good discussants or opinion contributors. Anybody that is known or perceived to be a decent contributor to forum discussions could be made a forum moderator or forum admin. This could be done with a single click by whoever set up that WhatsApp or Telegram account.

7. Now, a time came when this Genex was no longer working well as before, and, in response to the concern we voiced about how we could be compensated for the packages we bought, all of us who had bought different packages from it were instructed by the Lead Admin to give details of how much packages we had bought, and then had it converted into its monetary value in another currency called Encocoin, which was an independent coin project in which the Lead Admin had some interests and stakes. This was meant, not only to compensate us, but to also empower us to be able to trade in Encocoin on exchanges. In short, as a positive-minded person, I understood this to be an effort by the Lead Admin to ensure that we continue to benefit from the original package we bought, but this time in the form of a currency (Encocoin) which has a market value and is listed on exchanges. Hence, the Lead Admin worked with the administration of Encocoin, to ensure that we were compensated with the Encocoin equivalent of the Bitcoin package we bought for profit from the now weak GeneX. But while some of us bought into the Encocoin currency idea, some people did not, for whatever reason. And then afterwards many of these people began to claim that they lost their money.

8. Personally, I knew that I was not scammed or defrauded by Genex because the value of the package that I originally bought, was transferred to another currency that is listed on exchanges and so it means that I never lost anything. Throughout this time, I used to wonder why some people did not buy this brilliant idea. Could it be because they couldn’t grasp the concept or they simply wanted to be mischevieous? Anyway, me I bought into the idea of Encocoin and in fact encouraged other people to buy into it too, since I found the concept behind Encocoin to make a lot of sense. The zeal and confidence with which I encouraged other people to buy into the Encocoin idea at the time, was simply based on my fascination with the brilliant and rather novel commercial ideology behind Encocoin. It was this same mindset with which I encouraged those who asked me about the earlier Genex packages, plus the fact that while the earlier Genex packages were functioning, I was enthusiastic to see other people benefit from what had worked for me up to the time they asked me about it. My elder brother too asked me about the Genex package at the time, and of course I encouraged him.  Hence, the confidence and faith that I had in Genex products and the later Encocoin, was motivated by the good experience I earlier had with the Genex product that I bought, and my fascination with the ideology behind Encocoin, and nothing more.


9. Now, the issue is, that occasionally, one individual or the other among those other people who once bought Genex products but who for whatever reason did not key into the Encocoin idea, used to threaten me in different ways, including threat of arrest, just because I was a mere WhatsApp or telegram moderator or admin then. People who I had never met; people who I never knew from Adam; people who had never paid me any money or done any transaction with me whatsoever, would occasionally call me to complain about money they used to buy whatever packages in Genex way back in 2017 and to threaten me with harashment or arrest, when I was not even the owner or  a staff of that exchanger. Though none has ever actually got me arrested and I have never been attacked physically. But the threats come from time to time, and some even threaten my life at times. Some anonymous callers had also called to threaten that they would kidnap me. Some had also threatened to take my name to spiritualists. 

10. Some of them have even kept calling me till recent times, to make similar threats, calling me scammer and all sorts of names. 

11. The funny thing is that Encocoin is a thriving crypto currency today, and it is listed on many exchanges. As clarified earlier, how I got Encocoin is that the Bitcoin equivalent of the package I bought from Genex at that time, was given to me in Encocoin. Today, the Encocoin is one of the crypto currencies in which I trade. This is what some of these people should have done too, which, purely out of goodwill I had earlier encouraged them to also do, which they didn't, and now they are accusing the wrong person of whatever happened to their money.

12. It was a corporate exchange company that they paid to at the time; an exchange company that me too traded with and bought a package from. I don't own the company or any company for that matter and have never owned any, neither was I ever its staff or agent, nor have any physical contact with the owners of the company nor ever had any say or control over the Genex exchange or payment outlet. 


13. One of the persons who called to threaten me said he had chatted with me before and that I encouraged him to buy the Bitcoin package of that company. This may be true, because the Genex was doing well at a point and if people asked me about it, based on my good experience with the package that I bought from the company, of course I would confidently encourage them to go ahead and benefit too! Me too I bought the Piggy Mini based on the encouragement that other people, including moderators, gave me on Whatsapp forum during the time I was making enquiries about Genex. So, why should I turn around to be blaming those who encouraged me to do what was meant to benefit me, just because the thing eventually did not go well? Even my elder brother asked me about Genex packages at that time and he too he felt encouraged to buy their product. And when the company stopped doing well, he never blamed me because he knew that I was just a mere WhatsApp/Telegram moderator on their forum, nothing more. Me too I bought Genex products just like other people. Simple.

14. Today, I proudly and actively trade my Encocoin (as well as EPG, Bitcoin, BID, VIDA, BLT, ODC, FLS etc) on different exchanges, most especially on Crex24 exchange. I also joined the forum of Crex24 as well as some of the other exchanges. The essence of joining exchange forums is to be constantly updated on all matters pertaining to the exchange. Anyone can join any exchange forum. Today, I am an ordinary forum member of Crex24 forum, and I have deliberately not been vocal there, lest I am made a moderator there again and be confused by some people as the owner of the business or exchange. I am also on many other business related Whatsapp groups where I now keep silent because I don’t want to be made a moderator, for the same reason. For information purpose, it needs to be known that any Dick and Harry forum member can be handpicked to be a forum Moderator of any exchange or project. Forum moderators are not even people necessarily known physically by the owners of the forum or project itself, and in most cases, forum moderators don’t even know themselves personally. If anybody is known to be decent and capable of speaking or writing well, or known to be posting intelligent opinions, he or she could be made a moderator in any WhatsApp or Telegram group. 

15. Those who bought bigger packages in Genex when the exchange was still doing well; had it been that they bought into the Encocoin ideology the way I did, they would have been trading in much bigger quantities of Encocoin than I do today. And they would have been in profits bigger than whatever I make from my own little Encocoin, and I am sure that they would not have been giving me the credit for their success stories. But it is natural with human nature for some people to look for who to blame for their own wrong decisions, their own failure to make proper independent judgements, and their own carelessness. I remember that the Genex administration was giving us regular updates at the time things began to go sour with them, which spelt out clear procedures for us to follow to ensure that we would not be adversely affected by the unexpected stoppage of trade and payment activities. In fairness to them and in my own candid opinion, I don't see this behaviour as consistent with an outfit that intended to defraud us. Some of us followed the procedures, while some others spent their time disagreeing and lamenting. Each one of us are intelligent adults and we had the ability to make independent decisions of how to react to the unexpected stoppage of trades and payments on Genex. Everywhere that I’ve been in life, by principle, I have always being a pro-establishment person. I don't believe in protests or any form of rebellion against any authority under which I find myself, so I usually tend more towards conformism. Hence in that particular situation as regards Genex’ instructions to us, I chose to conform to the procedures laid out for us at the time, and this is what steered me away from the path that led some people to be later complaining that they lost money. 
It is therefore grossly unfair, immoral, illegal, laughable, unethical, unIslamic and unChristian for any other buyer of whatever Genex package to want to hold me responsible, just as me too could never have any right to blame those who encouraged me to buy Genex package in the first place, had I taken a wrong decision too or if things did not go the way I wanted.

16. Therefore, there is no way by which anybody who claims to have lost his money during Genex days, could reasonably or realistically trace his/her money to me as an individual, unless that person is just trying to be mischevious, which is something that my lawyers have declared readiness to competently handle.

17. Finally, I cannot be expected to represent or answer for a corporate outfit that I never founded or own or manage or control; an outfit in which I never had any say in how it was conceived or established or managed; an outfit in which I was never a staff; an outfit in which I was literally a nobody and indeed, an outfit which I stumbled upon on the internet just like many other people did.

It is highly advisable that concerned persons should stop being emotional and sentimental on this issue, as all what some of them are after now, is to find someone to vent their frustration on, due to their alleged or real lose.They should also be careful not to take the law into their own hands, which can compound whatever their situation is, and make them even more wrong.  And they should also stop this 'bring-him-down' mindset, since part of the reasons some people are shouting after me is because many of them disliked me for ideological reasons and my very strict, fortrite, no-nonsense style of forum moderation at the time. And from all the verifiable information available about me on my website, it becomes very clear that I have always being a forthright, strict, no-nonsense, effective and progressive leader, member, participant and servant wherever I have been to, with awards and prizes of integrity to show for it.
Let people ask themselves whether our society would not have been much better today, if it had been mostly or consistently ruled from the outset by people with these personal and leadership qualities, and whether it is people with such qualities and talents that some people should be trying to bring down.
The quality of a society could also be judged by how it treats its good brains.


- Yours sincerely,
  Ajibola, Luqman Olagoke
  November 30, 2020
 


 
 
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