FG urge to support Cooperative Societies to boost Economy

Daniel Ayantoye | Ibadan

The Federal Government have been enjoined to support cooperative society in order to boost Nigeria’s economy.

The Chairman, Ogbere Oriyangi Ibadan Ifelodun Cooperative Society, Mr. Adedeji Adeboro made the call at the organisation’s 15th Annual General Meeting held in Ibadan on Sunday, March 27, 2022.

According to him, there is need for government to improve on loan facilities as well as grants to support members of the Corporatives in the country.

He said, “There is so many ways that government can support Cooperatives, because most Corporatives are not boyant financially.

“We people doing Coorperative are average people in this country which government are supposed to help. If government can loan Corporatives money in other to give to their members, it will be appreciated and it will make this country improve.” He added.

Also the Patron of the society, Mr. Waheed Adebayo while encouraging individuals and business owners to join Coorperative societies in other to improve their standard of living, enjoined the government to make available grant for Cooperative Societies.

He said people in Corporatives societies have access to lesser interest loans than loans from commercial banks.

He also said, Ogbere Oriyangi Cooperative gives loans to it’s members at 8% interest as against the standard of 15% attainable at banks and other money lenders.

According to him, “The major objectives of forming the society is mainly to liberate members through to access loans in other to improve their business, their life and train their children.

While speaking on the relevance of the society to traders and business owners, Adebayo said “They should take Coorperative Society as their retirement benefits because individuals, traders, they don’t have any retirement benefits from government but when they save for the future and will reap it.

Highpoint of the event was the inauguration and administration Oat to of 2022 Executive members by the Auditor, Oyo State Cooperative Federation, OSCOFED, Mrs. Adesope Halimat.

The newly constituted executives includes: Mr. Adedeji Adeboro as Chairman, Engr. David Akanbi – Vice Chairman, Secretary – Mr. Laken Timothy, Treasurer – Mrs. Adebayo Bukola, Assistant Secretary – Mrs. Monsurat Waliu and Mr. Waheed Adebayo as Patron of the Society.

Earlier in her goodwill message, Mrs. Adesope Halimat enjoined members to be faithful with the Organisation in other to access greater benefit.

In the same vein, Mrs. Adeniran Abimbola, Auditor, Oyo State Coorporative Federation lauded l the organisation for outstanding performance.