–Seek management, LASG intervention

By Obas Esiedesa, Abuja

A group of retirees of NNPC Limited has expressed fears that their savings with the NNPC Staff Multipurpose Cooperative Society Limited, Lagos, may have been lost following a leadership crisis in the organization.

The group which sought for an urgent intervention from the management of NNPC Limited and the Lagos State Government said members of the Cooperative have not been able to make withdrawals from their savings nor receive dividends from the cooperative in the past six years.

Speaking to journalists, the chairman of the retirees’ group, Elder Ante O. Ante called for a forensic audit of the Cooperative accounts in the past six years and the removal of the current management which he described as illegitimate.

Ante disclosed that the Cooperative which declared a questionable profit of N96 million in 2021, dramatically declared a loss amounting to N806 million in 2022.

He explained that since then no annual general meeting has been held by the Cooperative leading to fears that their savings may have been lost.

He explained: “The essence of the cooprative society is to provide assistance, immediate or emergency solutions to financial crises of members. But as we speak, if not up to 10 years, we have not received the normal dividends from this co-creative. And yet, member have been, still contribute on a monthly basis.

“And the executives, I mean those who run the society, just use our funds as if it is free money. Those who retired, who have needs, to even pull out their savings, have been unable to because the money is not there. You go for loans, they will tell you, wait, you want to withdraw, you can’t get withdrawal”.

Also speaking, a former president of the cooperative, Mr. Odey Ochicha lamented that his savings with the Cooperative have been trapped.

“We are here on a rescue mission. We also want to ensure that the right thing is done. I haven’t passed through that road as general secretary of Lagos Cooperative, graduating to become president. I can tell you for free that Cooperative is not a place for infighting, or power struggle. And for what we are seeing, and all we are after is to make sure the right thing is done”, he stated.

In their separate interventions, Bola Babalola and Bob-Manuel Kons insisted on the sacking of the current management of the Cooperative headed by Ojo Akindehinde.