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COOPERATIVE SOCIETY
The idea of establishing FRSC Staff Cooperative came on board in 1998 when the then Corps Marshal and Chief Executive, Major General (Dr) HA Hananiya mni (rtd)set up a committee to see to the establishment of the Scheme. The committee submitted a report and drafted a constitution that was being considered before the change of leadership of FRSC in 1999. Thereafter, nothing happened until September, 2002 when the matter was brought up again as a result of pressure mounted by interested staff. The normal administrative procedure was followed and finally the approval was given for the take off in February, 2003.
Management of the Cooperative: The Society is being run by elected officers at the Bi-Annual General Meeting of the Society in accordance with the bye law. At the inception, a Caretaker Committee was inaugurated in 2003 for a period one year and during the 1st Annual General Meeting held in July 2004, the 1st Executive council was elected. The 2nd Executive council was elected and inaugurated during the 2nd AGM held in July, 2006.
a. Caretaker Committee (2003 – 2004)
| 1. |
JA ASOM (DCC) |
Chairman |
| 2. |
OS EZEKIEL (SRC) |
Vice Chairman |
| 3. |
ST AGURE (SRC) |
Assist. Sec. Gen. |
| 4. |
R. USMAN (CRC) |
Treasurer |
| 5. |
OL MOHAMMED (SRC) |
Secretary General |
b. 1st EXECUTIVE COUNCIL (2004-2006)
| 1. |
MA Jatau (ACC) |
Chairman (Appointed by COMACE) |
| 2. |
AT Hassan (CRC) |
V/Chairman (Elected at AGM) |
| 3. |
UA Ibrahim (CRC) |
Fin. Sec. (Elected at AGM) |
| 4. |
OI Abu (CRM) |
PRO (Elected at AGM) |
| 5. |
MO Abutu (ACRM) |
Ass. Sec. (Elected at AGM) |
| 6. |
N Sharshohot (SRM) |
Treasurer (Elected at AGM) |
| 7. |
OL Mohammed (CRC) |
Sec. General (Elected at AGM) |
c. 2ND EXECUTIVE COUNCIL (2006 - DATE)
| 1. |
KC Nwaegbe (CC) |
Chairman (Appointed by COMACE) |
| 2. |
A. Daniel (RC) |
Vice Chairman (Elected at AGM) |
| 3. |
UA Ibrahim (CRC) |
Fin. Secretary (Elected at AGM) |
| 4. |
LN Bialose (PRM) |
PRO (Elected at AGM) |
| 5. |
RY Riki (CRM) |
Assit Sec. (Elected at AGM) |
| 6. |
N Sharshohot (ACRM) |
Treasurer (Elected at AGM) |
| 7. |
OL Mohammed (CRC) |
Sec. General (Elected at AGM) |
ACHIEVEMENT: The Society recorded numerous achievements form inception to date. Prominent among these are as enumerated below.
Membership – The Society recorded registration of two thousand two hundred and forty one (2,241) staff that joined the society on voluntary basis.
Members’ Savings: – The members’ savings continued to increase since inception to date. As at 31st May, 2007, the total monthly savings of members stood at two hundred and twenty four million one hundred and sixteen thousand nine hundred and forty naira sixty kobo (N224,116,940.60) only.
Members’ Shares: – The accumulated shares contributed by members as at 31st May, 2007 stood at twenty two million and sixty nine thousand three hundred naira (22,069,300.00) only.
Assets Acquisition– As a way of assisting members to acquire assets with ease, the Society distributed to its members various items through the Business Committee. Arrangement is in the pipeline for the creation of Local Business Committee in all Zones to serve the members in the Field Commands.
Acquisition of Plots of Land:- In order to complement the monetization policy as announced by the Federal Government, the Society acquired 200 plots of land at Zuba II Part II of Gwagwalada Area Council for the initial 200 members.
Loans:- The primary aim of any Cooperative Society is to grant loans to its members for profitable ventures. The Society has provision for two types of loans vis-à-vis Emergency Loan and Long Term Loan.
Emergency Loan:- This is a Short Term Loan tagged “Cheque for Cash” whereby Staff with an emergency need of fund exchanges Cheque for Cash pending the payment of salaries. This loan is liquidated immediately salary is paid with an interest of 5% for members and 10% for non members.
Long Term Loan:- After six months of operations, the Society commenced the disbursement of loans to its members. Subsequently, loans were granted to members on monthly basis. As at 31st May, 2007 a total loan of four hundred and thirty seven million one hundred and seventy six thousand one hundred naira only (N437,176,100.00) has been granted to two hundred and sixty five (265) members. Total loan outstanding loan balance stood at one hundred and ninety one million three hundred and forty two thousand two hundred and one thousand naira fifty eight kobo (N191,342,201.58).
Computerisation of the Cooperative Operations:- Due to the fast growing contributions and loan repayment by members and the problems associated with manual processing of financial transactions, the Management Committee approved the computerisation of the Society’s operations for easy storage and retrieval of information. The automation enables us produce reports on request and in different formats. Group and individual statement of accounts are easily produced. The automation is to ensure accuracy in calculations and fraud free environment. The process of hosting the Cooperative Database on FRSC Website is on-going.
h. Housing Estate: The Society embarked constructed 186 Housing Units in Conjunction with Housing Cooperative in October, 2006.
News letters | Registration Form | Loan Form | Deductions Review Form
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