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The Executive Secretary of Nigerian Shippers’ Council (NSC), Dr. Akutah Pius MON, has encouraged members of staff at the organisation to prioritise property investments and other ventures to grow the funds of the NSC Staff Multipurpose Cooperative Society Limited.
Dr. Akutah made this remark at the 29th Annual General Meeting (AGM) of the NSC Staff Cooperative Society on Thursday, at NSC headquarters, Apapa, Lagos.
According to the Shippers’ Council boss, the Cooperative Society has performed admirably with its account and the togetherness fostered in the group, however he charged the Cooperative to educate members on the need to own properties.
“I didn’t get to learn the value of owning properties early. As a young man, I thought the responsibility of providing shelter was for my father, but land and property investments are the best. Properties will only appreciate, but cars will depreciate over time,” Akutah posited.
Noting the need to facilitate the Certificate of Occupancy for the Cooperative’s land property in Jikoyi, Nasarawa State, the NSC boss pledged his support in that regard.
“I want to thank those who have helped this leadership in the past 1-2 years and I encourage others to also support. I have seen top agencies that have divided over Cooperative Society politics and administration.
“NSC is an agency that is very crucial in the economic development of the nation. As the Council grows, I pray that every member of the organisation grows and this Cooperative is one of the platforms to facilitate that growth,” the NSC boss remarked.
In his address, the President of Nigerian Shippers’ Council Staff Multipurpose Cooperative Society Limited, Mr. Adeyemi Olaolu, declared a net surplus of N156.41 million for the 2024 financial year, marking a N14.56 million increase from the previous year.
Speaking at the AGM themed “Sustainable Practices for Cooperative Development Amid Global Trade Wars,” Olaolu emphasized the importance of innovation, risk management, and diversification in ensuring cooperative resilience despite global economic uncertainty.
Olaolu disclosed that in 2024 a total of N111,440,891.76 was disbursed as settlements to retirees, even as he praised the NSC management for its continued support and timely remittance of member deductions, describing the NSC as a pillar behind the Cooperative’s success.
He also gave an appraisal of the several land properties and housing schemes of the Cooperative Society and drew the attention of the NSC Executive Secretary to the Cooperative’s need for the Council’s intervention at Mowe land via drainage and other services.
On loan services, the President stated that the Society disbursed various categories of loans in the year under review, including: regular loans, children’s education loans, palliative loans, among others.
Earlier, the chairman of the occasion and Acting Director, Finance and Accounts, Mr. Stephen Olaniyi, who was represented by Mrs. Foluke Olaleru, commended the high-level of transparency and accountability displayed by the leadership of the Cooperative Society.
The event was also attended by the Director, Strategic Planning and Research, NSC, Mr. Rotimi Anifowose; the immediate-past Cooperative President, Dr. Bashir Ambi; Apapa Area Officer, Cooperative, Mrs. Olubunmi Lawson; among others.
