By Our Correspondent in Abuja
Members of the Staff Multi-Purpose Cooperative Society Limited, an independent body in the News Agency of Nigeria , on Saturday said they rose from the virtual Annual General Meeting of the society with a sense of satisfaction over the performance of the cooperative in 2019.
A correspondent of The Reporters, an online publication reports their followed the declaratio of a surplus of N11,496,598.74 in the 2019 financial year by cooperative
The President of the cooperative, Mr Moses Uzoagba, made the declaration in his while addressing members in Abuja Saturday.
According to him,the financial year 2019 was better when compared with the surplus of N8,269, 478.98 realised in 2018.
He attributed the development to the commitment displayed by the Executive Committee in venturing into viable investment.
Uzoagba who commended members individual and collective contributions, a development he noted, assisted cooperative move forward, also appreciated the management of NAN for its assistance and support.
“We also appreciate the FCT Chief Registrar of Cooperatives Society for the supervisory role and guidance to our cooperative,” he said.
Uzoagba, who said that there were 401 registered members of the cooperative as at Dec. 31 2019 then proposed that 69 percent of the surplus, amounting to N7,932,653.12, be declared as dividends and interest for members.
He added that the remaining 31 percent would be expended on other exigencies in line with the cooperative’s bye-laws.
With this surplus, 0.32 kobo was then declared for each dividend held, and 0.02 kobo per saving.
Stakeholders at the AGM, both physically and online, expressed delight at the progress made by the cooperative under its current leadership.
Earlier at the occasion, Mr Ayuba Shekwonya, the Area Cooperative Officer (AGO), representing the FCT Chief Registrar of Cooperatives Society, had commended the leadership of NAN Cooperative for showing good stewardship.
He, however, advised members to increase their shares and savings in other to keep the cooperative afloat.
Mr Paul Aliyu, a member of the cooperative, told NAN on the sidelines of the AGM that the progressive strides of the cooperative would encourage members of staff of the agency to invest more in it.
“The increase in the profit made from the previous year is a positive indication that things are being done properly and we are happy with that,” he said.
