NSC Cooperative Grows Fund By N150 Million In Two Years

By Kenneth Jukpor

The Nigerian Shippers’ Council (NSC) Multipurpose Staff Cooperative Society has grown its fund to N185,481,844 as at December 2018 from N30,442,770 when the current administration took over on April 2017.

The President of the Cooperative Society, Alhaji Bashir Ambi revealed this during his speech at the 23rd Annual General Meeting  (AGM) at the NSC headquarters on Wednesday, noting that the growth of 99.8% was as a result of the support and cooperation of members as well as the NSC management.

Bashir stressed that as part of efforts to ensure transparency and integrity under his administration, the Cooperative Society restricted its expenditure profile to 14.54%.

While appreciating all members for their trust and confidence for reelecting him as president, he assured the members that the Cooperative Society would make more progress in the next one year.

“Having scored an increase in our finance by more than 98%, NSC Cooperative Society has been the best in Lagos State. In Shippers’ Council we have never had results like this” he said.

Bashir who has been labeled “Mr. Integrity” by members, also assured members that the Finance and Account team would work on the notes on the accounts to explain in details how the expenses and revenue generated were achieved.

He advised all members of the NSC Staff who haven’t joined the cooperative to quickly come onboard, assuring them that they would have no regrets but success stories afterwards.

Earlier, the Executive Secretary, Nigerian Shippers’ Council (NSC) Mr. Hassan Bello commended the leadership of NSC Cooperative Society for sound financial records.

Hassan Bello who was represented by the Chairman of the occasion, the Director, Finance and Accounts, Mr. Daniel Bonat, praised the leadership of the cooperative for addressing the issues of poor financial management he had pointed out in 2017.

Bonat also noted that the theme of the occasion underlined what the Council cherished most as its core values, stating that “NSC has brought these core values to bare in the society. Issues of transparency and integrity have become the watchword in the port sector”

The chairman had admonished the members of the Cooperative to study the financial records and ask questions because they only have such opportunity once in a year.

He also urged them to celebrate their own by patronizing services of members, even as he implored them to continue to invest in the cooperative.

He reserved special thanks for the Lagos State Government, commending them for their support over the years.

 “We are glad to inform you that we are financially healthy, our funds are carefully fixed in accordance with the bye-law, no idle fund and above all no member owes the society above the legitimate credit level.

“The account of the cooperative is automated, members can log in to check, apply for loans at any time of the day” he added.

Also speaking at the event, the Director, Cooperative Multipurpose Limited, Apapa, Mr. Kolade Odedina, commended the efforts the NSC Cooperative society and urged them to do better.

According to him, members’ expectation from the executives is continuous increase in their dividends.