By Olasunkanmi Akoni

The President of Financial Solutions Multipurpose Cooperative Society Ltd., Mr. Jamiu Abatan, has disclosed that the cooperative disbursed over N102 million to 55 retired members between October 2024 and June 2026 as part of its commitment to members’ welfare.

Abatan also called on governments at all levels to channel more humanitarian and empowerment programmes through cooperative societies, arguing that such interventions would reach grassroots beneficiaries more effectively.

He made the remarks during the cooperative’s 30th anniversary celebration held at the Alausa Secretariat, Ikeja.

According to him, cooperative societies are well-positioned to ensure transparency, accountability and efficient delivery of government intervention programmes because they have established structures, maintain close relationships with members and can effectively monitor loan repayments and programme implementation.

“The humanitarian programmes of government should be more focused on the cooperative sector because funds channelled through cooperatives reach the grassroots directly.

“We know our members, we track repayment and we deliver impact directly. Channelling more government support through cooperatives means real help gets to real people faster,” he said.

Reflecting on the cooperative’s three decades of existence, Abatan said the organisation, formerly known as the Office of the Chief of Staff Cooperative Society, has remained committed to promoting financial empowerment, mutual support and affordable financial services.

He paid tribute to the society’s founder, who was represented at the event by his son, Mr. Toyin Ibrahim Suenu, as well as past executives whose dedication and discipline helped sustain the cooperative over the years.

Highlighting achievements recorded during his first term in office, Abatan said the cooperative had fully digitised its operations, enabling members to register, apply for loans, manage savings and access food and electronic commodity schemes remotely.

He disclosed that the cooperative admitted more than 250 new members, while its investments grew by over 15 per cent during the review period.

According to him, over 700 members benefited from the food and electronic commodity schemes, while more than 55 retired members received their savings and retirement benefits since 2025.

Abatan added that the cooperative introduced a retirement recognition programme in January 2026, under which retirees are honoured with gifts and certificates of appreciation.

He further stated that the society has continued to prioritise members’ welfare by supporting indigent members, ensuring prompt loan disbursement and sponsoring more than 200 members for seminars and capacity-building programmes over the past two years.

Expressing appreciation for his re-election for a second term, Abatan pledged to deepen innovation, strengthen financial discipline and continue implementing policies that would enhance members’ welfare.

“As we celebrate 30 years, let us commit to the next three decades with more innovation, stronger financial discipline and member-focused growth,” he said.

The anniversary celebration featured the recognition of pioneer members, past executives and other individuals who contributed to the growth and development of the cooperative society.

Among the dignitaries at the event were the representative of the Lagos State Head of Service, Mrs. Monsurat Odusina-Akinyemi; the Permanent Secretary, Office of the Chief of Staff, Mr. Semiu Oluwasanu Kadiri; the Permanent Secretary, Ministry of Commerce, Cooperatives, Trade and Investment, Mr. Babatunde Thanni-Muhammed Onigbanjo; as well as past executives, cooperators and stakeholders in the cooperative movement.