The Nigerian Shippers’ Council Staff Multipurpose Cooperative Society Limited convened its 29th Annual General Meeting (AGM) with a focus on “Sustainable Practices for Cooperative Development Amid Global Trade Wars.”
The event brought together members to review the Society’s performance, approve financial statements, and discuss strategies for resilience in a challenging global economic climate.
President of NSC, Staff Multipurpose Cooperative Society Limited ,Adeyemi Olaolu while speaking on Thursday 10 July 2025 at the 29th Annual General Meeting held in Lagos, disclosed that the Society reported a significant improvement in its 2024 financial results.
According to him, a Net Surplus for the year rose to N156,413,348.97, marking an increase of N14,558,620.24 over the previous year’s surplus of N141,854,723.73.
In line with its commitment to member welfare, Olaolu stated that the Cooperative will distribute N78,206,671.99 in dividends, up from N70,927,361.19 paid in 2023.
“Dividend payments will continue to be made electronically, ensuring compliance with regulations and convenience for members.”
Similarly on loan disbursement and member support, the President stressed that the Cooperative reaffirmed its role as a financial lifeline, offering Regular Loans, Children’s Education Loans, and Palliative Loans at competitive interest rates. Eligibility criteria remain in place to prevent financial strain among members