Admin
…Disburses N565m to members, maintains minimal interest rate of 5% single digit
…Frowns on sharp sharp online loans and at
payment defaulting members, with the resolve to face penalties; fine and withdrawals
…Commends former MD, Dr Ali Danburam for establishing the staff cooperative society
…The leadership and financial integrity are firmly proven as much as the improvement in financial strength – External auditor
…when leadership in other organisations avoid meeting their members by refusing to organise annual general meetings for fear of attacks, the opposite is the case with FMC Staff Multipurpose Cooperative Society; it is the members as shareholders are being begged to attend the AGM, owing to integrity – NLC Chair
…FMC Staff Multipurpose Cooperative Society records unprecedented success, which isn’t unconnected to the transparent transaction, effective and efficient leadership – DG Cooperative Society
…To change name from FMC to MAUTH Staff Multipurpose Cooperative Society
…To increase admin charges from 20 naira to 500 naira; interest on monetary loan from 5% to 10%, commodities from 10% to 15%
…To introduce special, instant, emergency loan with 20% interest rate
Adamu Muhammad Dodo
FMC Staff Multipurpose Cooperative Society, Modibbo Adama University Teaching Hospital, MAUTH, Yola, Adamawa state has disbursed N16. million to her 1,175 shareholders referred to as cooperators who are entirely members of staff of the hospital.
This was revealed Saturday, by the President of the cooperative society, Mr Lazarus Zirra, during the second annual general meeting.
Zirra said the leadership has been able “to disburse about N565 million to the esteemed members to meet their various needs at a minimal interest rate of 5% single digit”.
The external auditor, Mr Babatunde Adigun of Doshima – Joe & Co. Chartered Accountants, the Director General Cooperative Society Adamawa State, Hajiya Zainab Bwade, the Adamawa State NLC chairman, Comrade Emmanuel Fashe and the President Sangere Staff Multipurpose Cooperative Society of Modibbo Adama University, MAU Yola, Mr Japhet Wakili have in their separate remarks, marked the performance of the Lazarus Zirra led exco, excellent.
The NLC chairman said “when leadership in other organisations avoid meeting their members by refusing to organise annual general meetings for fear of attacks, the opposite is the case with FMC Staff Multipurpose Cooperative Society; it is the members as shareholders are being begged to attend the AGM.
“This goes to show the confidence of the leadership and the trust the members have on those they mandated to manage their wealth; it’s impressive, commendable”.
The AGM approved penalties for defaulting members, increase on interest rates, special loans and the change of name from FMC Staff Multipurpose Cooperative Society to MAUTH Staff Multipurpose Cooperative Society.
Find below the President’s Full texts of speech:
SPEECH BY COOPERATIVE THE PRESIDENT OF FMC STAFF MULTIPURPOSE SOCIETY LTD, DURING THE 2 ANNUAL GENERAL MEETING HELD ON SATURDAY 31 AUGUST 2024 AT AUDITORIUM HALL OF SCHOOL OF NURSING AND MIDWIFERY YOLA BY 10:00AM.
The chief Medical Director Modibbo Adama University Teaching Hospital, Yola
Other members of the top management committee here present
The Director cooperative Adamawa state, President of sister cooperative societies,
➤ Management committee members,
Fellow cooperators, here present,
➤ Distinguished ladies and Gentle men.
Good morning
It is a great pleasure and honour to stand before you, as the president of our esteemed cooperative. I welcome you all to the 2nd Annual general meeting taking place today and our apologies for holding the AGM behind schedule.
We give glory to God Almighty for allowing us to witness this great day. The year 2023 was full of political and economic challenges in our dear nation but despite that I am happy to inform you that the cooperative society thrived and performed above average. The cooperative society was established in 2008, since its inception our membership has grown to a staggering 1,175 active members.
Since you handed me the trust and mantle of leadership in June 2023, with your waring support, I and my team were able to disburse about N565 million naira to our esteemed members to meet their various needs at a minimal interest rate of 5% single digit, we are able to achieve all the success of which is the dividend of over 16 million that we are going to share today, if you give your approval.
We lost (4) four of our member viz Ishaya Audu, Fadimatu A. Mahmud, Tizhe Augustine and Adamu Dahiru. With a very deep sorrow and heavy heart, but win total submission to the will of God, we shall stand and observed a minute silence and pray for the repose of their souls. May their gentle souls rest in perfect peace. Amen.
Dear congress members, the cooperative is not devoid of some challenges. W have been enumerated in the agenda for your rectification.
I urge you all to look at those challenges with positive minds towards meaningful decisions to make the cooperative to stand on a good footing to you better and to enhance its productivity.
My highly esteemed members, I would like to express profound gratitude all for your support which in no small measure contributed to the progress of the cooperative.
I wish to specifically thank the management of MAUTH, Yola for giving us the conducive environment to operate smoothly and enhance all our desired goals.
Congratulations and thanks for attending this meeting as we expect your contribution and participations throughout the AGM. Thank you.
Muhammad Tukur
