CFA holds summit to improve cooperative societies

Determined to increase the fortunes of the Savings and Credit Co-operative Societies and Unions (SACCOS) in Nigeria, the National Co-operative Financing Agency of Nigeria (CFA National), formerly known as the National Association of Co-operative Credit Unions of Nigeria (NACCUN),  has designed a three day Co-operative Summit and Leadership Forum, slated to hold at the Women development Centre, Abuja.
The summit is planned to highlight the role of co-operatives in addressing national development concerns, build capacity among co-operative leaders, regulators and managers in the country as well as encourage the sustenance and development of the co-operative sector by engaging the youths and women in the co-operative enterprise.

The Agency, is been repositioned to provide supervisory, securities and technical services to all types of savings and credit, agricultural, marketing unions and financing agencies in Nigeria in accordance with extant co-operative principles.
Speaking during a press conference, the Chairman, Board of Directors, CFA National, Mr.Adebola O. Orolugbagbe, stated in Abuja yesterday that over time, co-operatives in Nigeria have demonstrated their ability to significantly impact positively on the economic development of Nigeria.

He pointed out “that the co-operative summit and leadership forum billed to hold on the 8th to the 10th of April, 2014 will avail the co-operative movement the opportunity to fraternise with the relevant stakeholders in the sector, showcase innovative management approaches aimed at elevating co-operative performance such as the proposed co-operative banking and to positively appreciate the hidden potentials in Co-operative Enterprise such as the proposed Co-operative Shares Exchange.”

According to the Secretary of the CFA National, Dr.GodblessSafugha, the apex association is leaving no stone unturned in ensuring that all co-operative committee members of various financial and co-operative institutions, local NGOs interested in learning co-operative model interventions will be given the impetus to improve their capacities, investment portfolios and platform to diversify their operations and contribute to national development.
The Summitisbilled to be chaired by the Minister of Agriculture, Dr.AdewumiAdeshina and other stakeholders such as the Minister of Finance and the Co-ordinating Minister of the Economy, Dr.NgoziOkonjo-Iweala, the Acting CBN Governor, Mrs. Sarah Alade, the Federal Director of Co-operatives, Dr.Okolo and various stakeholders from across the country.