The Nigerian Shippers’ Council (NSC), Staff Multipurpose Cooperative Society Limited, on Thursday, said it would pay a dividend of N44.447 million to its members for the 2022 financial year.
Adeyemi who spoke at the 27th Annual General Meeting of the coop with the theme, “The Cooperative Society: A viable Key to Savings Culture and Investment for Rewarding Future,” said the cooperative paid its members the sum of N30.443 million last year while it grew its net surplus from N60.887 million in 2021 to over N88.889 million, which represents about 45 per cent growth in 2022.
Olaolu said all members that retired from the service during the year under review had their savings settled promptly with no deduction made, adding that the sum of N148.559 was disbursed to them.
On loan disbursement, he said, “We are still operating on two types of loan being granted to our members, that is regular loan as children education loan, of which eligibility remains the major determinant for approval and disbursement. Occasionally, we give palliative loans to members to avoid financial embarrassment that might arise due to cash flow delay.
