President of the Multipurpose Staff Cooperative Society of the Nigerian Shippers’ Council (NSC) , Alhaji Bashir Mohammed on Wednesday, expressed readiness of the executives to invest the cooperative funds into rice production in other to improve dividend of cooperators.The President of the cooperative, made this known during the 23 Annual General Meeting/Election.
The cooperative president also disclosed to members that he had recorded increase in net surplus by 99.85 per cent in 2018. He said that in order to ensure transparency and integrity in their financial spending, the corporative had an expenditure profile of 14.54 %
He noted that the cooperative society had been able to improve saving to N185.4 million in 2018 up from N30.4 million recorded in 2017.
The Cooperative boss commended the members of the cooperative society for their support even as he stressed the need for investment.
“I want to appreciate all members for their trust and confidence restored in our administration and I want to assure them that they will see more progress but, in terms of investment, we are diversify into rice and that is part of the suggestion the last speaker made
The account of the cooperative is automated, members can log on to check, apply, etc for loans 24/7,”Mohammed said.
He reserved special thanks for the Lagos State government, commending them for their support over the years.
Earlier, the executive secretary, Nigerian Shippers’ Council (NSC), Mr Hassan Bello, commended the leadership of NSC Cooperative Society for sound financial records.