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LAGOS PLEDGES SUPPORT FOR COOPERATIVE SOCIETIES

Lagos State Government has described the various Cooperative Societies in the State as the vehicle for delivering many economic empowerment programs to the citizenry, just as it assured residents of the creation of an enabling environment to aid the growth and development of the movement.

The Permanent Secretary, Ministry of Commerce, Industry and Cooperatives, Mr. Olalekan Akodu said that Lagos State has a very vibrant Cooperative Movement made up of several Cooperative Societies with a wide array of enterprises which in turn contributes to the economic development of Lagos State.

Akodu, who gave the assurance at the flag off ceremony for the Revalidation and Verification of the Certificate of Registration of Cooperative Societies operating in the State held at the Cooperative Training Hall, Johnson Agiri Complex, Oko-Oba Agege, asserted that there have been noticeable improvements since the realignment of the Cooperative Department with the Ministry of Commerce and Industry by Governor Akinwunmi Ambode.

“The reason behind this realignment is to further deepen the operations of Cooperative Societies in the State as a catalyst for increasing the overall Gross Domestic Product (GDP) of the State and promote self-saving”, Akodu added.

He explained that the self-appraisal and auditing of the Cooperative Societies were necessary to confirm the status of some of the Cooperatives considering the fact that the exercise was last held in the year 2013.

According to him, “This exercise, therefore, is aimed at revalidating Cooperative Societies registration as well as data collection which serve to furnish the Ministry with a reliable database that will enhance proper planning, administration and effective monitoring of functional Cooperatives in the State”.

“In addition, it will mitigate some of the challenges that officers encounter while on the job which includes but not limited to tenure elongation, mismanagement of funds, non-rendition of Annual Accounts, non-holding of Annual General Meetings and the like”, the Permanent Secretary reiterated.

Akodu informed that the exercise commenced since Tuesday 10th April and will hold simultaneously in all the 21 Cooperative Areas across the State until Monday, 30th April 2018, emphasising that the process of capturing the data of all Cooperative Societies is continuous.

He urged all Cooperatives across the State to avail themselves of the opportunity by ensuring that they partake in the exercise to be eligible for benefits accruing from the State government through cooperative society platforms.

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