OGSCOFED 34TH AGM: Cooperative Federation Records Excess of #9m

OGSCOFED 34TH AGM: Cooperative Federation Records Excess of #9m

….unveiled OGSCOFED Coop Bread

….adopted the Africa Cooperative Development Strategy 2023-2033

Ogun State Cooperative Federation Limited (OGSCOFED) has announced a net surplus of N9,000,969:00 for the year 2022.

Disclosing the figure during the thirty-forth (34th) Annual General Meeting (AGM) held on Tuesday 3rd of October, 2023 in Abeokuta the Ogun State capital, the President of the Federation, Alhaji Wasiu Olaleye said that “the year 2022 was a challenging one for the Federation. However, despite all these economic challenges in the year 2022, the Federation was able to make a surplus of Nine Million, Nine Hundred and Sixty Nine Naira (N9,000,969:00k). At this juncture, I need to appreciate the entire Board Members and Members of Staff for their cooperative and dedication towards achieving these feats, most especially during this trying period. I am most grateful”.

He, however, pointed the efforts to “OGSCOFED DIGIT”. He said “We believe in the Digitalization of our activities in the cooperative sector and we shall ensure that we realize the dream of our past leaders on this initiative. I am using this forum to reinstate our unflinching commitment to the promise to strive hard to improve upon the cooperative rating in our dear state. More so, to justify your trust and interest in us, we won’t let you down. We believe that cooperation is one of the most important and potent tools that can be used to reduce poverty, eliminate waste, and contribute immensely to the socio-economic development of our state. After our trip to Nairobi, Kenya, in May 2023 for the ICA-Africa Ministerial Cooperative Conference, we also identified some more areas that required urgent attention for the State Cooperative Federation apart from one I identified from Mombassa in 2022”.

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“Apart from Aggressive Data collation, Coordinated Membership Drive, Coordinated Engagement with Stakeholders and Concern for Collaboration. The Development Strategy for ICA-Africa Vision 2033 details the Promotion of Cooperative Identity, Cooperation among Cooperatives, and Reinforce Institutional Capacity for Effective Service Delivery. We have adopted this document and are ready to adapt it to our Cooperative Development in Ogun State” he added.

He further reiterates efforts on the future of the federation that is very bright and shining if it’s well nurtured. “As part of our plans, we intend to make OGSCOFED Limited a veritable engine of economic development and human capacity building by educating members and non-members of cooperative societies about the contributions of the movement to social and economic well-being of the common man. We cannot do all these without your efforts and contributions. Our “COOP BREAD” “COOP MART”, and “COOP PAY” projects for our members and non-members among other things are planned for as details will be shared at appropriate times. Kindly support us on the future investment as we will soon start members’ credit payments on our investments”.

Meanwhile, the President of Odua Cooperative Conglomerate Limited, Elder Felix Bamidele Ajibode calls for peace and unity among the Cooperative Movement in the South West.

CoopBread Product of OGSCOFED that was launched during the AGM

The highlight of the event was the unveiling of OGSCOFED Coop Bread by the Director of Cooperative Services in Ogun State, Pastor Samuel Mustapha.

Ogun State Cooperative Federation also recognized and honored outstanding achievements in cooperative societies and unions within the state. The 34th Annual General Meeting (AGM) marks the culmination of diligent efforts and exemplary practices by various societies & unions contributing to the cooperative movement in Ogun State during the 2022 financial year.

The occasion witnessed the acknowledgment of the best Top 10 cooperative societies and unions, showcasing their dedication to fostering community collaboration, promoting cooperative principles, economic sustainability and social development.

The criteria for selection include innovative approaches to cooperative practices, impactful community initiatives, financial prudence, and adherence to ethical cooperative standards. The chosen Top 10 exemplify excellence in these areas, demonstrating a commitment to not only economic prosperity but also the overall well-being of their members and the community at large.

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As OGSCOFED continues to champion cooperative development, this award ceremony stands as a testament to the thriving spirit of collaboration and mutual support within Ogun State’s cooperative landscape. The honored organizations serve as inspiring examples, encouraging others to emulate their success, ultimately fostering a stronger, more resilient cooperative sector for the benefit of all stakeholders.

The epoch making event also witnessed the President of ICA-AFRICA & CFN, High Chief Tajudeen Oriyomi Ayeola ably represented by Alhaji Ashade and the Ag. Executive Secretary of CFN, Mrs. Ebun Akin-falaiye; the immediate past President of OGSCOFED Limited, Alhaji (Dr). AbdulRazaq Ola Balogun FHNR, CBD; Chief (Mrs). J. Ola Bisiriyu (immediate past Executive Secretary of OGSCOFED Limited among many other Cooperative Stakeholders in the Movement.

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