FedPoly Bali Multipurpose Cooperative Society Declares Over N19M Dividends

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FedPoly Bali Multipurpose Cooperative Society Declares Over N19M Dividends

By Our Correspondent

The Mega Thrift and Multipurpose Cooperative Society (METCOPS) of the Federal Polytechnic Bali in Taraba State has declared a dividend of Nineteen Million, One Hundred and Eighty Seven Thousand, Nine Hundred and Fifty One naira, fourteen kobo (19, 187, 951. 14).


This was disclosed at the 6th Annual General Meeting, AGM held at the Executive Lecture Theatre of the institution.

Speaking at the event, the Chairman of the Multipurpose Cooperative Society, Dr Lamidi Tajuddeen Babatunde expressed gratitude to the members for their commitment and participation in the activities of the Cooperative Society.

Dr Lamidi Tajudeen Babatunde

He highlighted some of the activities and achievements recorded last year despite the economic challenges.

They include buying and selling activities including agricultural produce, continuous disbursement of loans to members of the society uninterruptedly, slaughtering and sharing of cow meat to members.

Others are the successful completion of agreement with the Guaranty Trust Bank to be a partner in banking services, saying the necessary gadgets have been purchased and the place of operation in Bali is being sought for.


Dr Lamidi Tajudeen also identified the completion of agreement on rentage of a metal container opposite magistrate court Bali to one Mrs Victoria Lucas of Life and Destiny Church Bali effective April 1st, 2024 as another achievement of the Society.

He stressed that, the cooperative provides a platform for METCOPS members to invest for the future, access loans in times of need and serve as facility manager to its members.

The financial secretary of the Society, Mr. Michael Adelaja announced the sum of Nineteen Million, One Hundred and Eighty Seven Thousand, Nine Hundred Fifty One naira, Fourteen Kobo (₦19,187,951.14) as dividend from the previous year.

Mr Michael Adelaja

According to him, this tremendous payout demonstrates the Cooperative Society’s commitment to rewarding its investors and stakeholders, saying it is a testament to its financial stability and growth.


He also said the Society remains dedicated to promoting entrepreneurship and economic development in the institution and the Nation in general.

Mr Michael Adelaja explained that the AGM provides a platform for METCOPS to reflect on its achievements, challenges, and future prospects.

The meeting also featured presentations, discussions, and deliberations on key issues affecting the cooperative as well as suggestions on the best ways to tackle them.




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