ASUU Cooperative Holds AGM, Extends Mgt C'ttee Tenure To Jan 28

By Samuel Otikor



Tenure of the Management Committee of the Unique Choba Amiable  Cooperative Investment and Credit Society Ltd, has been extended to January 28, 2021, with a charge by members of the Cooperative to the Committee to correct all errors observed in the financial report. The extension of tenure was part of the major decisions reached at the Annual General Meeting of the Cooperative held at the ASUU Congress Auditorium in Delta Park on Thursday, December 3, 2020. The extension followed an observation which was upheld through a voice vote by members that the financial report was riddled with errors, some of which were attributed to the printer's devil. Earlier, in his keynote address, the Acting Vice Chancellor, Professor Stephen Okodudu, showered praises on members for contributing to the growth of the Cooperative. “We are doing well, so far. Some of the Cooperatives that started alongside with us are struggling to survive, while others have gone extinct. So, I want to thank members of the Management Committee and all members for the commitment towards the growth of the Cooperative,” Professor Okodudu said. On the complaint that the managers of the Integrated Payroll and Personnel Information System (IPPIS) owed the Cooperative over N30 million for non-remittance of the deductions from members on the platform, the Acting Vice Chancellor, promised that Management of the University would continue to interface with IPPIS to ensure that the funds are released to the Cooperative. In her speech, the Director of Cooperative Societies in Rivers State, Mrs Elizabeth Chidi-Wike, expressed delight with the sustenance of the Unique Cooperative. She pointed out that records made available to her showed that the ASUU Cooperative was doing well. Earlier, President of the Cooperative, Professor Michael Monanu, stated that the ASUU Cooperative which was incorporated in 2006 and took off in 2007, had grown from an initial membership strength of 141 to 788  as at December 2019. He announced that 15 persons withdrew their membership, five passed on and 13 others resigned and retired from the services of the University. “Currently, we have investments with Fund Managers, FutureView Financial Services Limited. We also have healthy account balances in our accounts with reasonable amount in our fixed deposit at First Bank Plc in addition to several Money Market Portfolio with reputable financial management firms. The 11 plots of land we have at Ogbogoro, Obio-Akpor LGA is appreciating in value,” the President disclosed among other investments. Professor Monanu stated that the Cooperative has hosted a page on the web in an effort aimed at computerising its records.   

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