NNPC cooperative society investment hits N3.49bn, scoops CFN award

The Nigerian National Petroleum Corporation Staff Cooperative Multipurpose Society (NNPC CMS) has held its 2015 annual general meeting with its investments hitting N3.49 billion, just as it scooped the 2014 Cooperative Federation of Nigeria (CFN) award as “The Best Cooperative Society in Nigeria.”

While delivering a address at the meeting, which held in Lagos, Adeyemi J. Ojeyemi, the society’s president, said the society had done tremendously well with its total unquoted investments for 2014 put at N3.49 billion, up from N2.94 billion in 2013 in spite of the “uncertainties in the global economy.”

Though the uncertainties are expected to persist throughout out the year 2015, the society expects growth in its business activities, he said, announcing that the society had not only obtained operating licence but had commenced business/operations of its Daylight Microfinance Bank Limited at its corporate headquarters in Ikoyi, Lagos.

While calling on the members to remain committed to the society’s core values of fear of God, integrity, teamwork and supportiveness, Ojeyemi, who also doubles as the vice president, Cooperative Federation of Nigeria (CFN), also informed the members that the society “won the National Award for Best Cooperative Society in Nigeria 2014 by the Cooperative Federation of Nigeria.”

Listing the NNPC CMS milestone achievements for 2014, Ojeyemi informed the members of the addition of 293 members to its fold; commissioning of the society’s ultra modern Daylight Complex in Abuja; opening of a consumer shop in Abuja; launch of the society’s consumer shop online operations; opening of its offshore accounts among others.

On the society’s 2015 outlook, Ojeyemi stated: “we remain focused on strengthening our core activities and at the same time prioritise the opening of new growth avenues. We will strive to overcome challenges and achieve better result with our ceaseless efforts to prepared for and cope with difficulties. Also, we will strengthen our competitiveness as well as surplus structures while making the best efforts to enhance member’s shareholders value.

OLUSEGUN ABISOYE