OSHODI ISOLO COOPERATIVE AREA OFFICE

AN OVERVIEW OF OSHODI ISOLO COOPERATIVE AREA OFFICE LAGOS.

The ministry of Commerce, Industry, And Cooperatives Lagos state has its head office at the secretariat Block 8 Alausa Ikeja Lagos.
It registers and supervises the cooperative societies operating in Lagos state in accordance with the provisions of the cooperative societies Law CAP C14 of the laws of Lagos State. It is also commissioned to promote cooperative spirit among citizens of the state.
I was posted to the Oshodi Isolo cooperative Area Office as a trainee on the 18th September 2017 which is located at 2 Oye-tayo Street Oshodi-Isolo local government secretariat, legislative building.
The Oshodi-Isolo cooperative area office is one of the area offices among the 21 cooperative area offices in Lagos state. It is a double office with 3 staff. The Chief Registrar, Assistant Chief Registrar and the Principal Cooperative Officer.

The Area office is responsible for the registration and supervision of registered cooperative societies operating within Oshodi Isolo local government area.

ACTIVITIES
 They act as the liaisons between the government (Director of Cooperatives) and the cooperative societies under the Oshodi-Isolo local government area.
 They monitor the accounts and records of cooperative societies to avoid fund mismanagement and poor handling of the societies assets and liabilities.
 They give advice to the cooperative societies concerning their loans and maximum savings credit limit and other laws of cooperative.
 They ensure that societies meet up with the requirement of registration before they can be fully registered and recognized. Eg. Of such conditions are (a). an economic survey would be carried out on the proposed society to know their area of operations, membership strength, history and objectives. (b) members must be up to 18 years. (c) members must be up to 40 people. (d) members must share a common ideology and exhibit a sense of common bond.

REPORT ON THE ECONOMIC SURVEY ON NEW BREED COOPERATIVE MULTIPURPOSE SOCIETY

To complete an economic survey report, the cooperative society was visited between September 25th, 2017 t0 September 30th, 2017. The data collected during the visit is detailed below;

Name of Society: New Breed Cooperative Multipurpose Society.
Area of Operation: 1 Ekundayo Badanji Street off Fatai Irawo, Ajao Estate.
Membership: 21 Members
Brief History: The new Breed Cooperative Multipurpose Society was founded based on self-help and mutual assistance. The purpose of its creation was to help its members in the locality solve their socio-economic needs.
Objectives: To encourage regular savings among its members. To provide credit to its members for provident and productive purposes. To encourage the spirit of and the practice of cooperation and self help to the benefit of its member.
Source of Income: Registration fee, monthly deposit, fine, interest paid, sales of stationery, interest on consumable items.
Savings Policy: Members monthly contributions paid by individual members which are recorded in a pass book.
Meetings: Usually holds once in a month and whenever there is an urgent decision or issue to address.

REPORT ON THE INAUGURATION OF RIPPLES (IRE-AKARI ESTATE) COOPERATIVE MULTIPURPOSE SOCIETY LTD.

Venue: 3/5 Abeokuta Street Ire-Akari Estate Isolo.
Date: 27th November 2017
Attendance: 15
Opening Prayer: The meeting started at exactly 1:55pm with an opening prayer led by Mr. Gbenga Olayorun.
Introduction: The Introduction of its members present was done by the coordinator, Mr. Gbenga Olayorun. Mr. Idowu Olayeleye Babatunde an official of the ministry was also given the opportunity to introduce himself to the members of the cooperative present.
The welcome address: The coordinator Mr. Gbenga gave a brief history of the society and enumerated some of the reasons that prompted the need to enhance the socio-economic status of its members. Specifically, the society intends to operate investment activities as a major source of boosting its income.
Registrars Address: The registrar Mr. Idowu O.B. enlightened the members on what cooperative is all about. In his remarks, he said that cooperatives are formed for pulling resources together for the betterment of its members. He corrected the negative impression of cooperatives looking or wanting government to assist them. Mr. Idowu also hinted on the various types of cooperatives, the principles of cooperatives, structures of cooperatives, sources of funds, expenditure functions of the directorate, benefits and challenges of cooperatives, the laws of cooperative as well as the slogan of cooperative.
Questions and Answers: The members at the meeting asked various questions bothering their mind such as government assistance, management of surplus, concern for community, education fund, loan policy and payment. Adequate answers were provided to Satisfaction by Mr. Idowu O.B the Ministry’s registrar.
At the end, the registrar requested to confirm the name of the society as jointly agreed by its members. Hence, Ripples (Ire-Akari Estate) Cooperative multipurpose society ltd was generally endorsed.
Inauguration: The society Ripples (Ire-Akari Estate) Cooperative multipurpose society ltd was formally and officially inaugurated by the principal cooperative officer Mr. Idowu O.B. A word of advice was finally given.
Election/Ratification: The following officers were ratified as the trustees of the society.
President: Mr. Gbenga Olayorun
General secretary: Mr. David O.Ojunla
Treasurer: Mr. Popoola Adeolu
The trustees were then sworn in.
Acceptance Speech: The president, Mr. Gbenga Olayorun thanked the members for electing him as the leader of the newly inaugurated cooperative society and promised to deliver the society to the glorious land.
Vote of Thanks: This was done by the Mr. Adeosun Oladele. In his remarks, he thanked the ministry’s official for coming around to inaugurate the society.
Adjournment: The motion for the adjournment was moved by the cooperatives secretary Mr. David O. Otunla and seconded by Mrs. Bola Oki.
Closing Prayer: this was conducted by Mr. Alabi Kayode. The meeting came to an end at about 3:55pm.

REPORT ON THE MINUTES OF THE AGM OF KGM STAFF COOPERATIVE MULTIPURPOSE SOCIETY AT THE COMPANY PREMISES ON THE 16TH OF OCTOBER 2017.

Attendance: 49 members
Prayer: At 3:45pm, Mr. Salau and Korede said the opening prayers.
Introduction: The Assistant area officer, Mr. Balogun.S. made the introduction of officers in attendance as himself and Mr. Idowu. He apologized for the inability of area officer Mrs. Onafeko to attend.
Welcome address: The president, Mr. Olusegun Olapokun welcomed everyone to the meeting. He apologized for the inability of the executive to get the documents available for everyone. He explained for the closure of office of the treasurer who was unavailable as he travelled before the notice of closure of office.
He gave excuse over the sack of most members for the poor performance of his regime. He wished the new executive to perform better.
Reactions: Mr. Peter demanded for reason on why there was no report or account.
The president apologized and that within the week copies will be made available to members. Supporting the president, Mr. Salau a member and a top management level correlated the reason is that the treasurer could not present the account as they liked in the company office.
Registrars address: Mr. Balogun.S., the assistant area officer, addressed that be it at may, the present executive has fault as adequate arrangement should have been made before slating a meeting. He therefore advised that credible people should nominate or be elected into positions of trust. Without much argument, he dissolved the present executives and called for an election.
Election: the following where elected sworn in as the new executives of the society;
PRESIDENT: Mr Olabisi Salau
VICE PRESIDENT: Mrs Adeola Adejanju
SECREATRY: Mr. Okoinyeloa Dominic
ASSISTANT SECRETARY: Mr. Ogunrinde Akin
FINANCIAL SECRETARY: Mr. Ugbaha David
TREASURER: Mr. Victor
SUPERVISORY COMMITTEE: Mr. Umon J.P
Mr. Akinwole Gideon
ACCEPTANCE SPPECH: The new president, Mr. Salau promised to bring the society back to better level. He enjoined members to increase their savings and redeem their loans.
General: Questions ranged from no account, issues of bad debt, members balance knowledge were asked. Other questions raised were, long access to loan, adequate information on cooperative etc.
The new president promised to carry along all members and that all relevant issues will be sorted out within few years.
Vote of Thanks: The new Assistant Sec. Mr. Akin Ogunrinde gave the vote of thanks.
Closing Prayer: Ay 4:12pm, Mr. Okon Isaiah led the closing prayer.