20/04/2026
IFEOLUWASEYI ITA OSHIN COOPERATIVE SOCIETY RECORDS ₦31.98 MILLION NET SURPLUS AT 21ST AGM, CELEBRATES GROWTH AND LEADERSHIP RENEWAL
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On Monday, April 20, 2026, Ifeoluwaseyi Ita Oshin (Abeokuta North) Cooperative Thrift and Credit Society Ltd, an affiliate of Adun Ife (Abeokuta North) Cooperative Multipurpose Union Limited, held its 21st Annual General Meeting (AGM) at the Cooperative House, Adun Ife CMU Ltd Hall, Ita Oshin, Abeokuta, Ogun State.
The Society, regarded as one of the best within the Union and once ranked among the Top Ten Best Cooperative Societies in Ogun State by the Ogun State Cooperative Federation, has continued to demonstrate excellence and steady growth in its operations.
Representing the Director of Cooperative Services in Ogun State Ministry of community development and cooperatives , Pastor Sam Mustapha ficp, the Assistant Zonal Officer, Mr. Alalade, congratulated the President, Deaconess Olufunmilayo Bolanle, and members of the Society for their commendable achievements. He praised the unity among members, noting that while achieving results is important, sustaining such success is even more critical, adding that sustainability remains a collective responsibility.
Mr. Alalade further challenged members to evaluate their individual contributions to the Society’s total shares and savings, urging increased economic participation. He also appealed for greater youth involvement in cooperative activities to ensure continuity and future growth.
The Circuit Auditor for Egba and Yewa of the Ogun State Co-operative Federation Limited , Mr. Lawal Azeez Babatunde, who represented the Federation’s President, Alhaji Wasiu Olaleye, also commended the leadership and members for the milestone achieved. He encouraged them not to relent in their efforts and cautioned against informal “side talks” outside official meetings, stressing the need for discipline and unity. He added that the Society should aim higher, as many cooperatives are recording even larger net surpluses.
In her management report, the President, Deaconess Olufunmilayo Bolanle, expressed gratitude to God for the opportunity to witness another AGM. She appreciated representatives of the Director of Cooperative Services, the Ogun State Cooperative Federation, Abeokuta Central Branch of OGSCOFED Ltd, the Union President Rev. (Dr.) Solomon Sunday Lijadu (JP, FICP), delegates, supervisors, and well-wishers for their support and presence.
She noted that meetings were held regularly and members continued to uphold cooperative principles, particularly economic participation. Financially, the Society recorded a net surplus of ₦31,985,906.91, a significant increase from ₦19,417,695.88 recorded in the previous year.
The President also disclosed that the Society’s total share capital stood at ₦123,338,764.00, while savings amounted to ₦82,035,188.00, despite prevailing economic challenges. Loans disbursed to members reached ₦265,542,000.00, benefiting 106 members.
While appreciating the support of the management committee and members, she urged continued commitment to the growth of the Society and emphasized the importance of timely loan repayment.
The AGM featured the reading and adoption of the previous AGM minutes and annual accounts, as well as the election of new officers to steer the affairs of the Society.
The elected officers include Deaconess Olufunmilayo Bolanle as President, Mr. Enisemo Olugbenro as Vice President, Pastor Adedayo Emmanuel as Secretary, Mrs. Opeolu Ibrahim Oluwanisola as Treasurer, alongside Pastor Iyiola Omotunde, Hon. Nurudeen Adekanbi, Ven. Banjo Oladipupo, Mr. Funso Ijaola, and Deaconess Adedeji Rebecca as members of the committee.
Other highlights of the event included the presentation of gifts to members in appreciation of their contributions, as well as the distribution of members’ credit.
In his remarks, the Union President, Rev. (Dr.) S. S. Lijadu (JP, FICP), thanked distinguished guests for attending and encouraged prospective members to join the cooperative. His call was well received, as many attendees registered to become members at the event.