ICPC Co-operative declares N46M Profit

The ICPC Staff Multi-Purpose Co-operative Society has declared over N46M profit for appropriation in the Co-operative account.

The announcement was made during the 12th Annual General Meeting (AGM) of the Co-operative Society which was held at the ICPC headquarters recently by the Audit Committee.

Speaking during the event, the ICPC Chairman, Prof. Bolaji Owasanoye, who was represented by the Director of Administration and Human Resource Department, Dr. Bala Mohammed, commended the society for their achievements so far and added that he believed more goals and objectives will be met in due course.

Delivering his presentation at the meeting, the President of the Co-operative Society, Barrister Joshua Wakili listed the achievements of the current executive council to include the creation of some committees to harness the felt needs of cooperators viz Investment, Welfare, Education and Economic committees, a permanent office for the Co-operative, the deployment of the Sure Thrift platform, organizing a ground-breaking ceremony for the Housing Estate in Kagini as well as the establishment of mini mart with a new POS system.

He further added that the main focus, going forward, will be revamping the fuel dump to reduce hardship on staff and a 50% increase in the salaries of the secretariat staff to reflect the minimum wage.

Presenting the financial report at the occasion, the Auditor, Mr. Daramola Olamide, reported the sum of N46,387,533.86 for appropriation, and that N20,874,490.24 being 45% of appropriation surplus for the year under review, was recommended for payment as dividend.

The invited guests from NDIC and EFCC Co-operative societies commended ICPC’s Society for their achievements so far.