Co-op. News

OGSCOFED holds 31st AGM

Ogun State Cooperative Federation Limited (OGSCOFED) held its 31st Annual General Meeting (AGM). The event, which complied with the ongoing COVID-19 protocol, took place at ‘Tayo Sobanjo Cooperative Hall, OGSCOFED Office Complex, Opposite Ibadan Motor park, Asero, Abeokuta, Ogun State, and had fewer members, mostly executives, and representatives, in attendance.


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The President of Ogun State Co-operative Federation Limited (OGSCOFED), Alhaji (Dr). AbdulRazaaq Ola Balogun – FHNR, CBD welcomed all delegates, observers and invited guests to the 31st AGM of our State Co-operative Federation in the name of Almighty Allah, the Determinant and Disposer of all affairs. All praises and adorations are for Him alone. (Amen).

In his Management Report, he said “his administration ensured strict compliance to the Federation registered Bye-Laws by holding all statutory meetings regularly, where we inform and enlighten our members with happenings in the movement in the State, other parts of Nigeria and the World”.

On South West Meeting he said “the cloud is now clear on our relationship with our South West business outfit Administration, recently, there were rigorous peace meetings between some members of my Board and the leadership of the Odua Co-operative Conglomerate Limited to resolve all lingering issues for the progress of both Ogun State Co-operative Movement and the Odua Co-operative Conglomerate Limited in particular, and South West Co-operative Movement in general. I am happy to inform you that the storm is totally over, following a reconciliation meeting, held at Ibadan, Oyo State between the Board of OGSCOFED Limited and the Board of Odua Cooperative Conglomerates Limited in the presence of some Cooperative Elders and Leaders in South West of Nigeria on Monday, 28th of September, 2020. Let me on behalf of my Board, thank you all for your loyalty, understanding and perseverance. The Cooperative Movement of South West geopolitical zone and Nigeria as a whole will continue to move from progress to progress. Amen”.

On Cooperative Federation of Nigeria (CFN), Alhaji (Dr.) AbdulRazaaq Ola Balogun – FHNR, CBD said “In compliance with the registered Bye-Laws of our State Federation, Ogun State Co-operative Movement remains active member of Co-operative Federation of Nigeria (CFN). I reported in my last Management report that, the new Board of CFN Ltd is posed to action in repositioning the Nigeria Co-operative Movement and turn things round for the Movement to enable it run shoulder with other parts of the World. In view of our active membership, the 6th Annual Summit was scheduled to be hosted by our dear State this year having declined the hosting right for the last two consecutive years. However, this year summit could not hold as a result of the Corona Virus (COVID-19) pandemic. We pray that the virus will end with this year, and all Cooperative Activities locally, nationally and internationally will resume normally. Amen.

Meanwhile, the recent development expresses the efforts of the Board of Directors of CFN to reposition the Cooperative Movement of Nigeria as, the Federal Government of Nigeria recently floated a Social Housing Program for Cooperatives mainly for the low and middle income cooperators (typically with household income of less than N100,000.00/month) to cushion the effect of COVID-19. The pandemic is to be implemented by the Federal Government through family Homes Funds Limited and Cooperative Federation of Nigeria as major collaborator, while the financial aspect of the program will be handled by the Co-operative Mortgage Bank Limited. Memorandum of Understanding (MoU) was recently signed after a workshop Co-operative Stakeholders from all over the Country in Abuja on the 17th of September, 2020, by the Cooperative Federation of Nigeria, Family Homes Funds Limited and Cooperative Mortgage Bank Limited”.

On Finance; ASF payments and operation result, the President of OGSCOFED Limited, Alhaji (Dr.) AbdulRazaaq Ola Balogun – FHNR, CBD said “In the last few years, we have been consistently informing you about the Federation dwindling financial situation, despite many cautions put in place to avoid some avoidable spending, the situation still continue to wear its ugly head. The result of the diagnoses carried out on what led to the unwholesome situation were partly identified and published in our previous reports. However, the main causes we discovered were as a result of increasing volume of ASF outstanding by our affiliates both orthodox and Salary Earners with a total amount of N24,296,905.00 owing by the Salary Earners Cooperative alone.

This, aside the expected annual grants and subvention which runs to an amount not less than N7.5Millions to date. This administration has so far received revolving loan amounting to N46,000,000.00 from the State Government out of which N35,470,000.00 has been repaid leaving a balance of N10,530,000.00 of the principal excluding interest of N3,220,000.00 on the N46Million, bringing total outstanding to N13,750,000.00 as at 31st December, 2019. The outstanding is as a result of the failed expected revenue enumerated above, whereas, it is imperative that the Secretariat of the Federation must continue to function.

Let me at the juncture inform you that part of the registration fee the Ministry suspended its remittance to us in November, 2018 by the Cooperative Department of our Ministry of Community Development and Co-operatives has now been restored in January, 2020. We sincerely appreciate the gesture of the new Director; Pastor Samuel Mustapha for his magnanimity on this.

At this stage, I will like to appeal to the Director of Cooperative Services to use his good offices to prevail on the Salary Earners Cooperatives in the State to pay their outstanding ASF, which we rely on for the settlement of the loan balance”.

On Staff matters, he said “the clock is ticking “tick talk”, “tick talk”, the pendulum is swinging left and right. About Thirty – Fives (35) years ago, a young and vibrant lady filled with hopes and brighter future, was absorbed into the workforce of Cooperative Union of Ogun State of Nigeria (COUSON), now Ogun State Cooperative Federation Limited (OGSCOFED). The young lady then, with determination passed through a lot of sacrifice to develop herself and she rose through rank and file, and finally ending up as the Executive Secretary of our enviable Federation in 1997. The young lady then, now Chief (Mrs.). Jemilat Olawanle Bisiriyu, the Beere of Alajeseku/Alafowosowopo of Ogun State will be retiring in December, 2020 haven spent Thirty – Five (35) years devoted and progressive years in the services of the umbrella body for Cooperative Movement in Ogun State. We all wish her a blissful retirement with vibrant health for the rest of her life. Amen.

In view of the above, and as part of our preparation for the inauguration of a new set of Management Team for the Federation, five members of the senior staff in the higher cadre were recently screened by the Screening Committee appointed by the Board to determine the appropriate designation for each of them. The Committee, chaired by Pa. R. O. Badmus and Alhaji Kamarudeen Adedo, Mrs. Christiana Agunbiade, Alhaji S. A. Oyedele and Elder Paul Sintoji as members, has submitted her reports which will be discussed at the next Board meeting for ratification and actions.

The effect of the Federation dwindling finance is already biting harder on our administration as we are presently having backlog of staff salaries deductions unpaid, which stood at N5,345,246.28 as at the end of September, 2020. We have two months now, only managing to pay the Net of the staff total emolument. These, aside some other important financial obligations of the Federation left unattended to”.

On Sub-Committee reports, Alhaji (Dr.). AbdulRazaaq Ola Balogun – FHNR, CBD said “the desire of the Board of Directors and the yearning of our progressive members, the Investment Committee has submitted her reports to the Board, which after discussing on it, had presented it to the General Meeting for ratification during our meeting in March, 2020. But, for the advent of the Corona Virus (COVID-19) pandemic, the approved ventures would have started operations. We are hopeful that after the AGM today the Committee will go back to the drawing board and started demanding for Shares subscription from members with the hope to start installation and operation in January, 2021 In Shaa Allah”.

On Relationship with the Ministry, Alhaji (Dr). AbdulRazaaq Ola Balogun – FHNR, CBD, President of OGSCOFED Limited said “we continued to maintained good working relationship with the Ministry of Community Development and Co-operatives. The Movement and the Ministry are two indivisible partners, performing different, distinct and corroborate functions for the progress and sustainability of the Movement. This means we are for each other, there cannot be one without the other, and we therefore need to continue relating to each other with proper understanding of our positions and responsibilities for the sustainability of the Movement”.

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On Awards and Recognition, he said “the assessment conditions of the award still remain as started last year. This year Top Ten Co-operative Societies and Unions reveal a keen competition among our Unions and Societies throughout the State. We congratulate the Societies and Unions that make the 2019 Top Ten and other awardees. However, this year’s award will not attract the usual presentation of plague, but only listing it on the boards for reading and letters to the awardees to back it up”.

On Tenureship and election, he said “tenureship in Branches, Zones, Apexes and or Central Societies, which is entrenched in our registered bye-laws Section VI paragraph 24a, stipulate that members of the Board of OGSCOFED Limited shall hold office for Two (2) Terms of Four years each. I want to remind you that, my Administration which came on board on the 18th of December, 2013 will be winding up In Sha Allah during the State AGM for the 2020 financial year in 2021. What this implies is that 2021 is a Congress year for our Federation. I want to use this medium to implore all Branches and Zones to start looking for their next representative at the State Board. Let me state here that whoever is coming to the Board of OGSCOFED Limited must be a Union President and must be elected as the Branch/Zone President during their AGM in 2021, among other conditions. We pray to God Almighty to elect for us a more formidable and progressive team that will take our Federation to a better next level. Amen”.

“Our Vision is to leave the Federation at the end of our administration better than the way we met it. We strongly believe in this vision and that is why we have engaged in re-building every aspect of the administration which cut across renovation of physical structures, formidable workforce with business and professional acumen, provision of infrastructure, floating of businesses that will cushion the income of the Federation. We have also continuously been raising the standard of our administration to align with both National and International standards as we now have a functioning website known as which give us access to Co-operative activities and opportunities with just a press of buttons on our phones or laptops. We passionately solicit for your support to achieve this laudable mission as there is nothing we can achieve without you.

First and foremost, I give thanks to Almighty Allah for giving us life and all wherewithal that makes us remain as human beings and for taking us this far Alhamudulilahi Robil Alamin. May He continue to accept our thanks and give us more. Amen. I also use this medium to show our gratitude to the new Director of Co-operative Services, Pastor Samuel Mustapha for his understanding and all the staff of the Co-operative Department in the Ministry of Community Development and Cooperatives for their supports and cooperation at all times. It is our hope that we will continue to have a blissful period together for the advancement of the Movement in our State.

My gratitude also goes to all the Co-operative leaders, Elders and members in the State for their moral, spiritual and financial obligations and support.

This appreciation will be considered incomplete, if I failed to commend and appreciate my colleagues on the Board, for their loyalty and support for the success of this administration on the progress recorded so far by the Federation. The Board of our Apexes are appreciated for the development they are bringing to the movement through their various activities and their loyalty to the Federation. The Management Team and Staff of the Federation cannot be left unappreciated as they play pivotal role in the Movement development and Progress. All the Administrative Managers and Account Officers of our various Apexes, Unions and Societies throughout the State are also appreciated for their services as partners in progress. Let me end this portion by appreciating the leadership and Board of Odua Co-operative Conglomerate Limited for their understanding. Ajose wa ko ni baje o, ILOSIWAJU ALAFOWOSOWOPO IPINLE OGUN, OJUSE GBOGBO WA NI”.


New member elected into the Board of Director of OGSCOFED Limited from Yewa South Branch of OGSCOFED Limited, Mr. Olatunji Taiwo who was also the Treasurer of OGSCOFED Limited and Mr. Sahula Kehinde representing Ogun State Co-operative Central Financing Agency Limited after the death of Principal Alhaji Mufutau Jinadu were introduced to the house.


  1. That OGSCOFED Limited should complete the review and amendment of her bye law – This was passed at Abeokuta Branch I and it was Noted.
  2. OGSCOFED Limited should employ the service of security guard (vigilante) for protection of our assets – This was passed at Abeokuta Branch I and its already in place.
  3. OGSCOFED Limited should work on how to put in place investment to generate more funds. – This was passed at Abeokuta Branch I and Ijebu North Branch and it’s already in place.
  4. That OGSCOFED Limited should put it as resolutions to pay dividend on building shares – This was passed at Abeokuta Branch I, Abeokuta Branch II, Remo Branch I and Yewa North Branch and its was Noted.
  5. That ASF dues should be paid between January to April every year – This was passed at Abeokuta Branch II and Yewa South Branch.
  6. That OGSCOFED Limited should give concession and consideration in the new bye – law to Branches that has not tasted principal offices in their Zones – This was passed at Abeokuta Central Branch and Remo Branch II and it was Accepted.
  7. That OGSCOFED Limited Board tenure of office should be 5years or 3years of 2terms – This was passed at Abeokuta Central Branch and as it was in the past.
  8. That OGSCOFED Limited is charged with responsibility of resolving all manners of ongoing conflicts within Ogun State Cooperative Movement and her affiliates to ensure that peace continue to reign within the Federation – This was passed at Ijebu Central Branch and Ijebu North Branch and it’s already done.
  9. That OGSCOFED Limited Extension Services should be put in place – This was passed at Remo Branch I and it was Accepted.
  10. That OGSCOFED Limited should have at least Two staff in each of the Local Government Area in the State – This was passed at Ewekoro/Ifo/Ado Odo/Ota Branch.
  11. That 10% rebate on ASF paid should be returned to Branches that pay fully – This was passed at Yewa North Branch and it was already done. Its 5% not 10%

Board Resolutions

  1. ASF should be increased to Two Hundred and Fifty Naira (N250) per member per annual.
  2. OGSCOFED Limited should organize Seminar on yearly basis

Sequel to the above resolutions passed at the Branches/Zones, motion was moved to increase the Audit and Supervision Fees (ASF) to Two Hundred Naira (N200) per member while some members supported One Hundred and Fifty Naira (N150), after much deliberations, it later turns to voting and the motion to increase it to Two Hundred Naira (N200)per member won by casting vote and this was supported by the whole house.

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The representative of the Permanent Secretary, Ministry of Community Development and Co-operatives, Mr. Akeem Ayodeji Ogunjimi in his address gave thanks to God for keeping members alive throughout the pandemic period, he said the pandemic has affected so many things in the world and for this not to affect our Co-operative Society, we have to embark on farming and in production of food, no matter the types of Cooperative Societies we are practicing, we should embark on Agriculture. He thereafter, enlightened members on the importance of Audit and Supervision Fee (ASF) to be paying by members to Ogun State Co-operative Federation Limited (OGSCOFED) as statutory fee as stated in the Ogun State Cooperative Law (Cap 26 of 2006). He also implored the President and Board of Directors of Ogun State Co-operative Federation Limited (OGSCOFED) to please allow there staff to enjoy the minimum wage, in which the Federal Government has approved for those working with the Government in other for them to meet up with their counterparts. He later appealed to members to pay the sum of Two Hundred Naira (N200) per member as ASF bill and urged the Board of Directors that there should be transparency, accountability and good management. He also praised those encouraging steps taken by the board to settle dispute between Odua Cooperative Conglomerate Limited and Yewa South Branch.

In response to Mr. Akeem Ayodeji Ogunjimi’s address, Alhaji (Dr.) AbdulRazaaq Ola Balogun – FHNR, CBD thanked him for his advice at all time and later used the medium to implore the Ministry of Community Development and Cooperatives to use the power given to them by the Cooperative laws to collect the ASF from the Salary Earners in Ogun State.

Mr. Ogunjimi said he would use his power to work hand in hand with the Cooperative movement to make negotiation with the affected Cooperatives and make them to pay their arrears.

In response to the above, Alhaji (Dr.) AbdulRazaaq Ola Balogun – FHNR, CBD said he would consult and contact the Ministry for next actions.

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Source: Extract from OGSCOFED 2019 AGM pamphlet and Ministry Address at the AGM.