Managers of Cooperative Society have been challenged to encourage members to save and invest more consistently while developing attractive investment products and expanding the Society’s investment portfolio, thereby ensuring a continuous growth in the Society’s capital, assets, income and return on investment of members.
Making this call while stepping up to take charge as the President for 2026/2027 Cooperative Year of the Bodija (Ibadan) Unique Cooperative Investment & Credit Society, at the 9th Annual General Meeting (AGM), held at the International Conference Center (ICC), University Of Ibadan, Mr Olufemi Adesope, said his new responsibility is a call to duty and “We must build on our successes, learn from our experiences and deliberately position Unique Cooperative Society for greater heights.”
Referencing the theme of the AGM, ‘Building Bridges, Empowering Members: Cooperatives in the Digital Age’ Mr. Adesope, said the modern cooperative society must, reduce “dependence on traditional cooperative activities by identifying viable businesses, property investments, community projects and other sustainable income-generating opportunities. The Society should continuously ask: “What new opportunities can create additional value for our members?
“Building relationships with credible financial institutions, professional organisations, businesses, technology companies, other cooperatives and development institutions, at the same time, continuously train members and leaders in financial literacy, investment, entrepreneurship, leadership and digital skills.”
He noted that in keeping with today’s realities in the financial world requires, “accelerating the digitalisation and automation of the Society’s operations, including member registration, savings, loans, investment monitoring, communication, reporting and performance tracking. Technology should make the Society faster, more transparent, accessible and efficient.”
While commending their Board of Trustees, including their foundation President and Past President, Mr Olusegun Sanni and Mr Gbolahan Arogundade respectively, for their guidance, wisdom and continuing support, the new president said maintaining the highest standards of transparency, prudent financial management, risk control and accountability remains the goal of the new leadership.
“Set measurable annual targets for membership, savings, investments, income, assets and member benefits, and review performance regularly to ensure that the society is always moving forward rather than simply maintaining the status quo.
“Our goal must not merely be to preserve what we have built, but to continuously grow, improve and create greater value for every member,” he said.
Also speaking at the AGM, the keynote Speaker, a Professor of Agricultural Economics, Department of Agricultural Economics, University of Ibadan, Ibadan, Sulaiman Adesina Yusuf (PhD), advised persons really interested in steady financial growth to identify with a Cooperative and Credit Society and join others to put resources together, and watch it grow over time while ensuring their regular participation in the process of the growth of the society.
Speaking on the topic: ‘Building Bridges, Empowering Members: Cooperatives in the Digital Age’ Prof Yusuf, challenged leadership of cooperative societies to avoid the pitfalls of the past by running with a focus on digital transformation, which will encourage more people to associate with them.
He added however that no matter the kind of digital transformation introduced to make a society function better, the fact that it is about people must not be lost on anyone; “let us be honest with each other: a digital notice is not the same thing as meaningful participation. An app cannot manufacture trust.”
“What it can do, if we build it honestly, is make trust visible: a balance a member can check, a decision a member can read, a record a member can request. Technology can support accountability. It cannot take responsibility for it. That responsibility still belongs to us, the leadership and the membership of this cooperative.”
