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NSC Cooperative Expends N150m On Child Education Loans In 2019

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Executive Secretary, Nigerian Shippers’ Council (NSC), Mr. Hassan Bello

By Kenneth Jukpor

In a bid to help members of staff at Nigerian Shippers’ Council (NSC) cater for their children school needs, the NSC Staff Multipurpose Cooperative Society paid over N150 million to applicants in 2019.

The President of the Cooperative, Mr. Bashir Ambi revealed this at the 24th Annual General Meeting (AGM) of the Society, today.

Ambi who was speaking at the virtual conference also assured that the Cooperative would continue to lend support to members for legitimate loan applications.

“Within this financial year, we have processed, approved and paid the sum of One hundred and fifty four million, live hundred and seventy five thousand, two hundred and fifty naira (N 154, 575,250.00) only as children education loan to legitimate applicants.”

He disclosed that the Cooperative also recorded 60.8% increase in finances which grew to N34,185,389.67 up from N21,251,205.17 in 2018.

“As at today, the Cooperative is financially healthy. Our funds are carefully fixed in accordance with the bye-laws. We don’t have inert fund and no member owes the society above the legitimate credit limit,” the President said.

In the keynote address earlier, the Executive Secretary of Nigerian Shippers’ Council (NSC) Mr. Hassan Bello, represented by the Council’s Director of Special Duties, Mrs. Ada Okam, commended the leadership of the Cooperative Society, noting that transparency has been enshrined.

His words: “I am particularly elated to be part of this rejuvenated society which has not only kept its pioneering spirit but has responded with constancy to the needs of staff by engaging always and again for cohesion.”

“I have taken a keen interest in your activities since the Augean Stable of the Society was cleaned. What I have seen and heard so far and even attested to by the Lagos State Ministry of Commerce, Industry and Cooperatives, has been a responsible, participative and transparent leadership that has put its ideals and energy at the service of all, acting in favour of all.”

“I employ you not to allow the tempo wane. I also charge you to continue to imbibe the specific values and principles required to be ever evolving, adapting, innovating and developing to greater heights.”

Bello admonished the leadership to have a vision that should encompass not only economic, but also social and environmental dimensions, noting that this will broaden the developmental experiences of the Cooperative Society as well as constitute a unique and worthy heritage.

“l have also noted your impressive financial performance matrix for the year. I urge you to build further on it,” the NSC boss added.

Speaking with MMS Plus at the event, a member of the Cooperative, Mrs. Ngozi Osakwe-Ogo commended the present leadership of the Cooperative, noting that they have curbed the number of bad loans.

Osakwe-Ogo, who joined the Cooperative when she joined the Council in 2003, noted that she has been able to develop the culture of saving and also acquire landed properties through the Society.

“When I joined the Council, I learnt about the Cooperative and decided to join after I was told I could get loans up to twice whatever I had contributed at any particular time. I knew I would need cash sometime but I also wanted to improve my savings culture. This Society has also being of assistance at times for issues such as rent and children’s school fees,” she added.

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