The Elizade University Staff Multipurpose Cooperative Society has recorded a significant milestone with the successful hosting of its 13th Annual General Meeting, announcing a remarkable 60 per cent dividend payout on members’ shares alongside an impressive 31 per cent growth in its operations.

 

The Annual General Meeting, which brought together members of the cooperative community, served as a platform to review the Society’s financial performance and unveil new initiatives aimed at strengthening members’ economic wellbeing.

Commending the leadership of the Society, the Vice-Chancellor of Elizade University, Professor Philip Oguntunde, applauded the Executive Committee for living up to the expectations of members.

 He described cooperative societies as the backbone of workers’ financial stability, noting that such platforms provide critical support systems that enhance staff welfare, promote savings culture, and offer accessible credit facilities.

 

In his address, the Chairman of the Society, Dr. Sunday Ogbeide, disclosed that the cooperative had introduced a faster and more efficient loan request and approval process to improve service delivery. 

He further revealed the development of an emergency loan policy designed to ensure timely access to funds for members, particularly during unforeseen financial challenges.

Ogbeide also highlighted additional economic empowerment measures, including the introduction of an asset-based loan scheme policy.

 According to him, the initiative is aimed at promoting financial inclusion, alleviating poverty, and supporting sustainable income generation among members.

In line with global best practices and digital transformation, the Chairman announced the development of a cooperative mobile application that will digitize members’ records, enhance data reliability, and create a more sustainable and efficient database system.

 

The 13th Annual General Meeting reaffirmed the Society’s commitment to innovation, transparency, and the continuous improvement of members’ welfare, positioning the cooperative as a vital pillar in the financial and social architecture of the University community.