From Esther Akaa, Lafia
Precious FM staff have been urged to develop saving culture by investing in their Multipurpose Co-operative Society as plans for unforseen circumstances.
Chairman of Precious FM Staff Multipurpose Cooperative Society, Mr Kalu Idika made the call during the 2021 annual general meeting of the society held in Lafia, the Nasarawa State capital.
The chairman, while presenting his report said the cooperative society has been able to generate over N29.2 million between 2020 and 2021.
According to him, the feat was achieved due to the mutual understanding between the management and members of the cooperative.
He said this was evident in the sustainable financial growth of the cooperative within the past four years.
Mr Idika explained that the labour and investment of members were not in vain as the cooperative generated interest of over N2 million which, he said was to be shared as dividends.
“Today marks another milestone in the business of our great Cooperative Society as we reflect on our success stories and challenges in the past one year.
“I am glad to report back to you that since our assumption of office after the election on 18th August, 2020, we have recorded high level of stability in the affairs of the Cooperative because of the mutual understanding between the Management and Members of our great Cooperative. This is evident in the sustainable financial growth of the Cooperative within this past Four Years as illustrated below.
“Specifically, between 25th July, 2020 and 25th July, 2021, I am glad to inform you that our capital base increased from Twenty Million, Nine Hundred and Twenty-Four Thousand, Eight Hundred and Sixty naira (N20,924,860) to Twenty-Nine Million, Two Hundred and Eighty-Three Thousand, One Hundred and Eighty-Seven naira point Seventeen Kobo (N29,283,187.17) before some withdrawals were made by some of our members.
“It is on this note that I wish to humbly announce to us that our labour and investments are not in vain as we generated interest of two million, ninety five thousand, eight hundred and thirty six thousand naira, sixty Kobo, out of which we shall be declaring our dividends today,” the chairman said.
He therefore, called on members to continue to save for the rainy days and encouraged other staff of the corporation who are yet to join the cooperative to do so for their own good.
In their separate remarks, the Nasarawa State Commissioner of Trade, Industry and Investment, Obadiah Boyi, represented by Kujo Baku and the General Manager, Precious FM Lafia, Ibrahim Abimiku, represented by Tony Egbe, appreciated members of the cooperative for their savings to avert economic emergencies. They advised them to increase their savings for their future benefits.
On their parts, the Zonal Director FRCN North Central Zonal Office, Alhaji Haruna Idris, represented by the Director News and Current Affairs, Mr Akange Nyagba and the Chairman, Nigeria Union of Journalists (NUJ) Nasarawa State Council, Salihu Mohammed Alkali both commended the leadership and members of the society for their zeal to save for future purposes.
Precious FM is a sub-station of Radio Nigeria in Lafia, the Nasarawa State capital.