The Federal Capital Territory Secondary Education Board Staff Multipurpose Cooperative Society has reaffirmed its commitment to members' welfare, transparency, accountability and financial empowerment. President Mr Peche Nasara assured that his administration would not tolerate financial misconduct, embezzlement or mismanagement. He stated that financial transactions, particularly loan approvals and disbursements, involved a standing committee and three authorised signatories. This move aims to ensure responsible management of cooperative resources.
The cooperative's vision is to become stronger, more transparent, financially resilient and better equipped to serve members. Mr Nasara emphasised that the cooperative is committed to ensuring resources are managed responsibly, investments are properly accounted for, and decisions are guided by the long-term interest of the society. The cooperative has provisions for emergency loans, particularly for school fees and health-related challenges, to provide financial assistance to members when needed.
The cooperative recently celebrated its 20-year milestone. Mandate Secretary of Education, Federal Capital Territory Administration, Dr. Danlami Hayyo, described the achievement as a testament to the vision and collective determination of the cooperative's founding members and successive leadership. Dr. Hayyo urged the leadership and members to sustain the values of unity, transparency, accountability and collective responsibility.
Chairman of the Planning Committee, Mr Abubakar Ajayi, noted that the cooperative had played a significant role in bridging the welfare gap among teachers and other public servants in the FCT. He explained that cooperative societies provided an avenue for workers to support one another financially and economically, particularly in areas where government interventions might not be sufficient.
Pioneer President of the cooperative, Elder Wale Oyedemi, expressed satisfaction with the society's growth, describing its present achievements as beyond the expectations of its founders. He commended the current leadership for its performance and urged them to introduce more innovations, ideas and policies to sustain the cooperative's achievements.
The cooperative is looking into the future with optimism, with plans to establish a microfinance bank. Mr Nasara cited the cooperative's current financial capacity as evidence of its potential for greater growth. This move aims to provide more financial services to members and further enhance their financial empowerment.
The 20th anniversary celebration featured the presentation of awards to best contributing and deserving members of staff. The cooperative's achievements demonstrate its commitment to serving its members and promoting financial empowerment. The event highlighted the cooperative's role in supporting the welfare of teachers and public servants in the FCT.
Key points
- The FCT-SEB Cooperative Society has reaffirmed its commitment to transparency, accountability and financial empowerment for its members.
- The cooperative has provisions for emergency loans to support members with school fees and health-related challenges.
- The cooperative plans to establish a microfinance bank to further enhance its financial services.
