• Saturday, May 18, 2024
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NAMA’s Cooperatives rakes in N11m profits in 2012


The savings of Nigerian Airspace Management Agency (NAMA) cooperatives society rose to N130m in 2012 from N88m in 2011.

Also,the amount of loans disbursed to members was over 40 percent in the year under review.

This was disclosed by Edino Amos, President of NAMA Staff Cooperatives and Investment Society at the 11th Annual General Meeting of the society.

Amos further disclosed that the cooperatives made a net profit of N11.2m.

He noted that 2012 remained one of the challenging years but with determination and dedication the cooperative was able to scale through with its significance achievements.

According to him, 2012 was a year of relentless building and repositioning for the future to develop structures that will assist the cooperative to deliver its goals.

According to him, the cooperative has been able to assist members and imparted positively in meeting up with their obligations through securing loans at a very low interest rate.

He said that the society has the capacity to give several five million naira to individual as loans as a result of confidence on the executive.

Amos explained that the essence of cooperative societies was to give sense of belonging to members and strengthen the weak ones.

Amos advised young workers to join the cooperative society as soon as possible in order to safe guard their future adding that 35 years in the civil service will be nothing if not well planned.

The president explained that cooperatives was set up with a mission to create a cooperatives alive to the yearnings of its members by striving to improve the socio economic status of members.