………..To Commence Operation Soon
The Outdoor Advertising Association of Nigeria, OAAN’s Multipurpose Cooperative Society will soon commence operations with the sole aim to help members have access to loans as well as other benefits to develop their businesses.
Speaking at an inaugural meeting on Tuesday, the Chairman of the Multipurpose Cooperative Society, Mr. Wole Odubanjo said aside making funds available to members of the association; the society will explore other sources open to cooperative societies in the country.
“We are going to make use of the limitless opportunities, scope and ideas that will be of benefit to members of our association and in future to help in developing their businesses.
Stating how the cooperative society will work, Odubanjo said it is going to be a gradual process because the society is still a baby that needs to be nurtured to stability and then it can start to run.
“As we start the sensitive assignment of the cooperative society, everything will be done strategically especially the issue of loans with a credit committee to look into it before loans are disbursed.
Stating that the conditions for loans will be released soon, the chairman said the cooperative society will start with personal loans and as it progress it will also allow members to access commercial loans which he said will not be more than 4 percent interest.
Listing the benefits to members, Odubanjo said it will allow members to have savings, it will focus on matters that concerns members as well as it will help generate profit for the association which will be given back to members as dividends.
Commending the Executive Committee of OAAN for the initiative, Odubanjo urged members to be actively involved in the process in nurturing the cooperative society which he said in few months will be one of the best in the country. “As we take off at the end of this month, members should endeavour to make payment on monthly basis.
In his goodwill message, OAAN President, Chief Emmanuel Ajufo said he was delighted for the commencement of the cooperative society. “What I can assure the chairman is that we will be willing to support them for the success of the venture.
He urged all members to be part of the lofty vision which he said will benefit members in the nearest future.