Co-operative Federation Harps On Business Affiliation

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The President, Rivers Co-
    operative Federation Limited, Elder Mike Chinwo has highlighted the need for co-operative units in the state to affiliate with bigger bodies to ensure development and growth.
Chinwo who was speaking during a training programme on co-operatives in Port Harcourt last week, said that affiliation would expose the newly registered small societies to the benefits that they can derive as members of a federal body.
The President noted that the theme, “Effective Management of Co-operative Society” was important for knowledge, adding that there is need for entrepreneurs to acquire training before venturing into any business to avoid the trauma of liquidation.
He highlighted the need for accurate financial recording and book keeping, adding that “organisations that fail to keep records of transactions, especially financial, will definitely fail”.
Chinwo encouraged the participants to buy co-operative society books to enable the leaders step down the knowledge acquired to all the members of the society.
One of the resource persons, Mr. Hope Akpunonu said that only training can build the society into a bigger body, adding that co-operatives should organise trainings regularly for business growth.
He noted that co-operative is a tool for business development noting that members of the society should learn the rule of re-investing gains.
Speaking on the topic “Co-operative Law and Principles, he said it is important for units to observe the seven co-operative principles of societies, ranging from voluntary and open membership to education, training and information gathering.
A participant, Juliana Isoma from Akabuka Co-operative, ONELGA, commended the organisers of the training for what she called on eye opener.
She noted that she now knew why her former co-operative society failed, adding that with the knowledge acquired, the sky cannot limit my success again”.

 

Lilian Peters/Lydia William