Adeyemi Olaolu Returned Unopposed as President of NSC Staff Cooperative Society

…Nigeria Shippers’ Council to Get Housing Estates for Staff in Lagos, Abuja – ES Barr. Akutah

Adeyemi Olaolu has been re-elected as the President of the Nigeria Shippers Council (NSC) Staff Cooperative Multipurpose Society Limited. He was the only candidate for the presidency of the society, so he was returned unopposed at their recent 28th AGM/Election of the NSC Staff Cooperative Multipurpose Society alongside members of his management committee who are all unopposed and returned elected to serve for the next 2 years tenure based on their meritorious service yielding more dividends for members as they increase the income and asset base of the society.

In his address at the function, the Nigeria Shippers Council Executive Secretary Barr Pius Ukeyima Akutah announced that they are developing staff housing estates in Lagos and Abuja in other to address accommodation needs of the Council’s workforce. And, already in talks with the Minister of FCT, Nyesome Wike and the Lagos State Governor, Babajide Sanwo-Olu on making lands available for the project.

“Take the issue of staff housing seriously because the challenge of shelter is a very serious one. I can see that it is something you have plans for but I want you to prioritize it. We have commenced efforts to secure an NSC estate for staff in Lagos and Abuja.”

“We have discussed with the Minister of the Federal Capital Territory (FCT) to help provide land for this purpose and we are doing the same with Lagos State. The idea is to ensure that members of staff own their property.” he said

Barr Akutah commended the Cooperative Society Leadership for the efficient management of resources and encouraged other NSC staff who are yet to join, to become members.

“From my experience with cooperative, members usually fight and belong to cults over leadership. I have seen this happen time and again, but when you come together to pull resources cooperative is actually a good thing. With this cooperative, it is easy to engage developers to put roof over the heads of members. When members need loans to enable take care of immediate needs, the cooperative also helps out.”

“I am impressed that the executives have operated this society in a commendable manner with good cooperative governance. Today you are dissolving the management to elect new one which shows that as leaders you are happy to make room for others to come in. This is a step in the right direction,” the NSC boss said.

While assuring that NSC management team will look into the requests the NSC Staff Cooperative Society had made, he encouraged the group to continue to grow its investment fund and not rely solely on savings.

Meanwhile, the Olaolu Adeyemi-led executives of the Cooperative Society has declared a net surplus of N141,854,723.73 for the year 2023, compared to N88,895,512.55 for the preceding year 2022.

President of the NSC Cooperative Society, Mr. Adeyemi Olaolu, at the 28th Annual General Meeting/Election held at Shippers Towers in Lagos added that the value shows a difference of N52,959,211.18, representing a growth of about 60 percent of the net surplus from the previous year.

Mr. Olaolu further stated that contrary to the sum of N44,443,859.50 shared as dividends to members in the previous AGM, a total of N70,927,361.19 would be distributed as dividends for the year under review.

He added that the society is committed to continuing the disbursement of dividends to members after the approval of the financial statement by the cooperators through individuals’ bank accounts, in line with financial regulations that oppose cash disbursement.

One of the highlights of the event was the presentation of a special recognition award to a former Cooperative President, Mr. Bashir Ambi, who raised the revenue profile of the Society from N38million to over N420million in 4 years.

Ambi is also credited with introducing a number of innovations at the Cooperative Society including; e-dividends, child education loans, health/ leadership training programmes, among others.