NIGERIAN workers have been advised to imbibe savings culture by taking full advantage of incentives offered by cooperative societies in order to guarantee their financial security upon retirement from service.
Edo State Director of Cooperatives Mr. Okun Alaba gave the advice yesterday at the occasion of the 23rd Annual General Meeting (AGM) of the IDSL Staff Multi-Purpose Cooperative Society Limited for the year ending December 31st 2014.
According to Mr. Alaba the call became more apt given the uncertainties pervading the Nigerian work environment vis-à-vis present day pensions policies inconsistencies in the country.
He noted that the only way the average worker could insulate himself from the vagaries of pension’s policies reversals and shrinking government resources was for them to save for the rainy day through active engagement with Cooperative Societies.
The Edo Cooperative Director expressed happiness with the management team of the IDSL Cooperative Society which he said had been profitably managed for the overall benefit of members, a development he noted earned it being listed among the 10 best Cooperative Societies in Edo state.
The chairman of the occasion Chief Olubodun Omotola who represented the Managing Director, IDSL Mr. Roland Ewubare while commending the successes recorded by the Cooperative Society, urged members to exhibit a high sense of decorum while scrutinizing the books of accounts of the society in the course of the AGM.
Chief Omotola said the IDSL management was happy with the present healthy state of the cooperative society which according to him could not have been possible if there was no synergy between its management committee and members.
Earlier in his welcome address, the President of the IDSL Multi-Purpose Cooperative Society Mr. Samson Olugbenga Agbaje ascribed the laudable achievements of the society to the selfless support, advises and constructive criticisms of fellow cooperators and management of IDSL. He however sued for its sustenance.
Mr. Agbaje reported that there was remarkable improvement in the profitability of all the society’s business segments, increase in members’ savings and shares respectively including its welfare packages which have been increased with an expansion in the list of suppliers of needed items.