The Nation Newspaper

Tag: cooperative

  • Cooperative to empower entrepreneurs

    ACross River State based cooperative society, E.E Ntiti Engineering Works (MPCS) Limited is organising a one day training programme for agro entrepreneurs.

    Its President, Emmanuel Ntiti, said the event is scheduled for Thursday at  Ekpokpa  Town Hall, Ikom Local Government Area.

    He said the society’s long term goal is to ensure high quality information to farmers  on  cluster tactical farming that have proven an essential and trusted means to identifying farming locations for scaling viable farms.

    According to him, representatives of Bank of Agriculture (BoA), Bank of  Industry (BoI), Bureau of Cooperatives  and some commercial banks will be there to make presentation.

     

  • Cooperative holds training

    A Cross River State-based cooperative society, Crystal Model MPCS Limited, is organising a one-day training for farmers.

    A statement by its Secretary, Mr Abel Udoh, said  the event is scheduled for tomorrow at Institute of Basic Studies, Akamkpa, Cross River State.

    The objective of the training, according to him, is to equip participants with information on how to access agric finance business.

    He said the society’s long-term goal is to ensure new farmers access high-quality information,  and proven tactics essential to starting and scaling viable farms.

    According to him, representatives of Bank of Agriculture, Bank of Industry, Union Bank Plc and Sterling Bank will make presentations at the event.

     

  • ‘Ogun cooperative societies own N60b in asset’

    The Ogun State government has said the state has about 15,000 cooperative societies, with a cumulative asset of over N60 billion.

    The government said it would continue to create an enabling environment for cooperative societies to thrive for steady socioe-conomic growth and development.

    Commissioner, Community Development and Cooperatives Francis Gbenga spoke at a meeting also marking 100 days of Allied Afro-Cooperative Limited of the Old Students’ Association of African Church Grammar School in Abeokuta, the state capital, Governor Ibikunle Amosun’s alma mater.

    Gbenga hailed the cooperative societies, saying they have become better organised and efficient in disbursing loans.

    According to him, the era of signing and giving loans to members on “man know man” basis is gone because of an efficient monitoring process.

    He said the days  when few executives approve loans for friends were gone.

    The commissioner  advised executives of Allied Afro Cooperative Limited to stick to rules in running the society to ensure its growth, success and survival.

    Also, National President, Old Students Association, Adewale Olutayo and National  General Secretary, Mrs Tolu Onafowokan said the society was established to cater for “financial and material needs of members.”

  • Cooperative Society members demand outcome of EFCC probe

    Aggrieved members of the Nigeria National Petroleum Corporation (NNPC)  Cooperative Multipurpose Society Limited have asked for the outcome of the Economic and Financial Crimes Commission (EFCC) investigation into alleged financial misconduct of the last management.

    Early this year, the EFCC arrested a former President of the society, Mr Joseph Adeleke Ojeyemi, for alleged complicity in a multi-million naira fraud.

    The money was said to have disappeared between January 1, 2011, and December 2015, under Ojeyemi’s watch.

    The society’s Annual General Meeting, held at Regency Hall, Ikeja, Lagos State, on August 11, turned rowdy, after angry members demanded from its President, Mr Akin Akinrera, outcome of the EFCC’s investigation.

    At the meeting, Akinrera said: “The EFCC has taken steps in the matter. The society’s management, this year, had a meeting with EFCC’s operatives. We are going through the process of change of ownership of the Bureau De Change. Management of NNPC is still holding to his pension and gratuity to serve as a deterrent to others. The EFCC has carried out evaluation of some of the projects Ojeyemi did as president.”

    Akinrera made futile attempt to further shed light on EFCC investigation, as the furious members interrupted his remarks. They said the society was declaring millions and billions as contributions, yet the money does not get to them. Some threatened to pull out.

    A member, who spoke said: “We urged the EFCC to also bring those two men to book because they were part of trustees of the society, with Ojeyemi as president. We heard Ojeyemi is attempting to use his financial influence to bring in a new leadership to head our society, so he would truncate the EFCC investigation.”

    Ojeyemi said the allegations against him were political. In a text message, Ojeyemi said: ‘’I believe in balanced objective journalism. By God’s grace, when the report of the EFCC is out, the truth will be known. The society is owned by members and not a one-man (sic), hence, any regime is tenured. Don’t be carried away by emotions and blackmail. The members elect who they want to run the society. Another election is coming soon. The motive behind the petition against me was borne out of bad politics.

    ‘’The legacies and achievements of my tenure is known by members who are proud of them.’’

  • ‘Cooperative college to boost Lagos economy’

    THE establishment of Lagos State Cooperative College will enhance the economic progress of the state, House of Assembly Speaker Mudashiru Obasa said yesterday.

    Obasa, represented by his deputy, Wasiu Sanni-Eshinlokun, spoke at a public hearing on a Bill for a Law to Establish the Lagos State Cooperative College and for Connected Matters.

    The hearing was organised by the House Committee on Commerce and Industry, led by Oladele Adekanye.

    The Speaker noted that the bill, when passed into law, will equip co-operators with skills for economic promotion.

    Obasa said: “This bill is geared towards effective administration of cooperative societies and enhancing the economic progress of the state.

    “If the bill is passed into law, it will ensure the qualitative training of co-operators who with their professional skills will promote the economic activities.

    “The bill, when passed into law, will empower the college to provide courses of instruction leading to the award of degrees, diplomas and certificates and other studies.

    “This bill, which seeks to give statutory backing to the Lagos State Cooperative College, will produce seasoned and well-trained co-operators to enhance the cooperative movement in the state.”

  • Cooperative society greets Ambode at Christmas

    Cooperative society greets Ambode at Christmas

    The Ibile Cooperative Multi-Purpose Society has greeted Lagos State Governor Akinwunmi Ambode and the people for the Christmas and New Year celebrations.

    A statement by the President Prince Akim Adebowale Ojora and Secretary Ladi Vera-Cruz, said: “The milestones of progressive and productive governance achieved by your administration in the past years and the hope, plans and aspirations it has for the people in coming years are equally celebrated.

    “As we look forward to and prepare for the New Year, we, at Ibile Cooperative Multi-Purpose Society, pledge our support to your progressive administration, which continues to set the pace for other states and surpassing all benchmarks in its quest to bring the dividends of democracy to every nook and corner of Lagos.

    “As we look forward to 2017 and beyond, we pray that God continues to bestow on you the grace, wisdom and tenacity of character that has continued to bring the well-deserved dividends of progressive governance and politics in Lagos State.

    “We wish you and your family a very merry Christmas and New Year full of love, prosperity and unabated success.”

  • Lagos cooperative chief seeks empowerment for members

    There’s need to empower  cooperative societies and their members to mitigate the harsh economic situation in the country, President, Lagos State Cooperative Federation, Oriyomi Ayeola, has said.

    He argued that apart from ensuring that cooperative societies and their members survive the prevailing harsh business environment, empowering them would also enable them to contribute to the revival of national economy.

    He said in a statement at the weekendthat cooperative members need the support not only to inspire the leadership and members, but also to assist the body complete its multi-purpose building designed to create opportunities in Lagos.

    The LASCOFED leader said   he was determined to complete the multipurpose building earlier than the scheduled  date.

    He said: “Experience and research have shown that one of the most challenging factors in carrying out cooperative business is getting the right place that is conducive for business at a competitive cost. We resolved to tackle this challenge by constructing a befitting and expansive multi-purpose building for cooperative societies and their members.

    “The first step was taken by the administration of my predecessor in office, Alhaji Saheed Oki, who laid the foundation in July 2010. I was an executive member and during our foreign trips, we understudied cooperative movements in other climes. Our findings were part of what inspired the LASCOFED cooperative building, which will be commissioned on July 19.”

    He said the speedy completion of the building was a fulfilment of the promise he made, saying: “We promised co-operators in Lagos state that if we were given the privilege to serve, we will be given them a befitting secretariat and ensure unity in the cooperative movement,’’ Ayeola added.

    He said the new building is not meant for cooperative societies alone, saying the structure is massive enough to accommodate businesses outside the cooperative movement, adding that Governor, Akinwunmi Ambode, is expected to inaugurate  the building.

  • Chamber to drive agric with cooperative society

    Chamber to drive agric with cooperative society

    The Lagos Chamber of Commerce and Industry (LCCI) plans to drive agriculture through its cooperative society to make farmers have easy access to loans.

    Chairman of LCCI Agric and Agro-Allied Group Mr. Adeola Elliott told  reporters in Lagos that the cooperative society is part of the chamber’s integrated agriculture project.

    “We have small farm holders scattered all over and they do not want to remain small farm holders all their lives. They are still small farm holders because their capacity to expand is limited and it is difficult for even banks to give loans to small farm holders. The cooperative society intends to bring all farmers under one umbrella and yet operate independently,” he explained.

    Elliot said as farmers become members of the LCCI Agric and Agro Allied Group and the cooperative society, they automatically will be entitled to loans.

    Elliott said the cooperative society will also be used to confront the government and ensure that loans for farmers get to the real farmers.

    He said this way, farmers would be sure that whatever assistance coming from the government would be spread to them as members, unlike now that loans for farmers would be given to non farmers.

    Elliott noted that the cooperative society is open to big and small farm holders nationwide.

    He said there would be opportunities for farmers with similar produce to come together and get a tractor to plough their lands, which would be cost effective.

    According to him, ordinarily small farm holders will not be able to hire a tractor because of the cost, but when they come together, it would be cheaper.

    In a related event, the LCCI has empowered 70 mentees at its yearly mentoring programme for young entrepreneurs.

    The gesture was in recognition of the key roles entrepreneurs play in a nation’s economy.

    LCCI President Dr. Nike Akande said the mentoring complements the Chamber’s mission to promote and protect the interests of its members and the business community through public policy advocacy, creation and facilitation of investment opportunities, provision of business development services and observance of the highest standards of business ethics.

    Mrs Akande, who spoke at the  LCCI entrepreneurship programme, noted that quality human capital can be a major driver of sustainable economic transformation, pointing out that people are important to make things happen in any system.

    She said the initiative was aimed at contributing to the development of the  youth and also to facilitate their self-discovery. She said this was the way to harness the huge human capital potential, which the youthful population offers.

    Mrs Akande added that the mentoring programme started three years ago with 25 mentees, and that by the end of 2015, the chamber had trained and mentored 93 young entrepreneurs most of whom are doing very well in their various spheres of enterprise.

    “Today, we are admitting another set of seventy young Nigerians who will be graduates of this programme in the next six months. I am pleased to inform you that the council of the LCCI only recently approved the admission of the graduates of our mentoring programme into the membership of the chamber on very concessionary terms. The idea is to nurture the next generation of businessmen and women,” she said.

    The Minister of Labour and Employment, Dr. Chris Ngige, represented by the State Coordinator of the Ministry, Mr. Wale Shado, praised the leadership of the Chamber for the strategic initiative.

    He described the programme as “apt and timely” when viewed against the backdrop of the present administration’s agenda on employment generation and youth empowerment for sustainable development.

    The minister said the Federal Government planned to provide experiences and opportunities for youths and adults to bring forth the best within them to constantly develop and enhance their abilities and take responsibilities to make positive contributions to their communities.

    LCCI Director-General, Mr. Muda Yusuf, reiterated that the  programme has been a huge success. He noted that this batch of mentees would have a similar and even better experience.

    He stressed that the mentoring has been further enriched to empower young entrepreneurs on building capacity, access to market and to create an enabling environment for their businesses to thrive. Yusuf said this year, the chamber would be involving more credible private sector partners to improve experience sharing.

  • Unemployment: ‘Nigeria needs cooperative lending model’

    The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) Director-General, Bature Masari, has said until every Nigerian, particularly,  the army of unemployed graduates, are self- employed, the nation is sitting on a time bomb.

    Speaking with reporters in an interview at the weekend in Kaduna, Masari said the situation was equal to a time bomb if the government did not encourage and promote self-employment mechanisms through small and medium enterprises engagement.

    To this end, he called for the adoption of the cooperative lending model as practised in other countries, such as Taiwan and Bangladesh, for lending to small businesses to address lack of collateral.

    He also called for the establishment of a Micro, Small and Medium Enterprises (MSMEs) bank.

    Masari said the bank was necessary to provide a dedicated and sustainable funding window for the development of the MSMEs sub-sector towards economic empowerment and job creation.

    “These measures will go a long way in checking the problem of lack of access to fund that is hampering the growth and development of the country’s MSMEs sub-sector. There is no doubt that a well structured MSMEs sub-sector can contribute significantly to employment generation, wealth creation and development in Nigeria,” he said.

    Masari argued that the economic realities facing the country, caused by declining crude oil prices, the foreign exchange crisis and significant capital outflows required a fundamental diversification of the economy.

    “Therefore, a new impetus must be generated to expand the operational horizon of MSMEs in Nigeria towards achieving this objective,” he said.

    He pointed out that if government and other relevant agencies had made loan easily accessible for the people to go into small businesses, there would be little or no cases of Boko Haram, kidnapping and other social vices across the country.

    The SMEDAN boss, however, said with the opening up of offices for the agency in the 36 states, there would be less interest in white collar jobs by unemployed youths because the agency would assist to facilitate and monitor loans acquired by every beneficiary either from Bank of Industry (BoI) or Bank of Agriculture (BoA).

  • Cooperative honours past leaders

    Cooperative honours past leaders

    McPHERSON University Multipurpose Co-operative Society Limited has held a reception for its past officials. The event coincided with its maiden Annual General Meeting (AGM).

    The Vice-Chancellor (VC), Prof Adeniyi Agunbiade, and Registrar, Mrs Adebola Abegunde, who is its patron and the matron, were also honoured for their contributions.

    Its  pioneer president, Pastor Goke Agbaje, and former Vice President, Pastor Amos Akinola, were among those honoured.

    Six others  who served in other capacities were presented with plaques. They include Reverend Femi Adebowale, Dr Isaac Onigbinde, Mrs Mary Adeniran, Mrs Abiola Omotoso, Mr Edwin Ofudje and Mr Samuel Popoola.

    The Society’s Deputy Director of Services, Mr. S.O. Mustapha, urged members not to convert the organisation to pressure group. Saying the management was making efforts to improve staff welfare, Mustapha said members must support the move by keeping themselves abreast of development in the organisation.

    He urged members to cooperate with the newly-elected executive by showing understanding and attend all meetings. He also advised the executive to study business environment before investing members’ “hard-earned resources”.

    The president of the Society, Reverend Olufemi Adebowale, promised that his leadership would sustain the legacies laid by his predecessors. “The executive would work hard with the three established sub-committees and carry all members along on all business matters,” he said.

    The Society’s Secretary, Ofudje, read a five-point resolution of the AGM. The resolution, among others, stated that special loan must be a privilege that should be granted on first-come-first-serve basis.