Co-Operative Society

In Nigeria, the present Mortgage operations are overseen by the Federal Mortgage Bank of Nigeria (FMBN) which operates through Mortgage Banks known as Primary Mortgage Institutions (PMI) which are licensed to interface with the individual customers. The terms and interest payable on Mortgages are usually less cumbersome than commercial loans. They are usually secured against the “brick and mortar” (property) ...

Co-operative society is one of the proven secret that wealthy people are using to achieve success in whatever goal they desire to achieve. Unfortunately, many Nigerians are missing this lifetime opportunity of using this platform to associate with like minds and gain financial freedom. One of the factors misleading people about the power is the lack of meaningful results or ...

A lot of questions have been asked about how Cooperative Societies started in Nigeria, and based on my experience of running cooperative societies successfully for many years till date, I wrote this series of articles to share information on it with you, my esteemed visitor. This article will enlighten you on how cooperative societies in Nigeria started. According to the International Cooperative ...

This article is on cooperative society bye laws, principles and practices, let’s get started. According to The International Cooperative Alliance (I.C.A), a cooperative can be defined as an independent, self-sufficient association of people who come together willingly to meet their economic, social, and cultural needs and desires through a mutually owned and democratically controlled enterprise. As such, it can be ...

Funds management shows that the difference between the rich and the poor is not so much in the difference in income but in the way the income earned is disbursed. I heard somewhere that if your ‘out-go’ is more than your ‘in-come’, then your ‘up-keep’ will be your ‘down-fall’. Individuals and organizations alike have made this mistake and the result ...

With this article I will be sharing information on mode of business operation and management of cooperatives… It is often said that when visited by a cash cow, don’t just take the cash, milk the cow as well! It is not enough to just have a house, you must know how things run in that house otherwise you will not ...

The history of cooperative society with real estate as our focus dates back in history when it became renowned and accepted as a group dedicated towards the building up of the society. Before it came to the notice of the public, people do form groups with no knowledge and intentions of making it thrift as we have it today. But ...

Lack of cooperative laws in place has made a lot of people to lost faith in cooperative societies. Their dream of quietly enjoying the economy of scale as a result of pulled resources, buying a land or owning a house or even venturing into great businesses is shattered due largely to mismanagement. People are disillusioned and as a result, are ...

Understanding how to register a Cooperative Society is a step in the right direction, especially when we consider that a lot of people have lost their life savings and cash by having business dealings with companies or organisations that are not recognized by law. If you are currently doing this, it is at your own detriment because such a company ...

The global economic recession has led to the emergence of different types of cooperatives in Nigeria with the motive of helping individuals to get financial support to attain the basic needs of life. Economists have told us that human needs are insatiable. Immediately one need is satisfied, another takes its place, looking for satisfaction as well. Unfortunately, there aren’t enough ...