By Folake Oye
Osun State Governor, Senator Ademola Adeleke has approved the sum of one billion naira as a revolving loan scheme for the cooperative society movement in the state.
Senator Adeleke gave the approval during the first State Cooperative Summit in Osogbo and also approved the complete rehabilitation of the Cooperative College, Ode-Omu.
Declaring the summit open, the governor noted that the amendment of the cooperative law was necessary in tandem with modern trends and practices, noting that the operational standard among the cooperative platforms was deficient and substandard.
Senator Adeleke who observed that the greatest challenge was the low level of transparency and accountability in cooperative operations, noted that external and internal auditors were mostly compromised while most managers were ill-equipped.
While stressing the importance of cooperative movement to the local economy, Senator Adeleke said the government may also consider the possibility of cooperative studies becoming a programme of study at polytechnics and universities in the state.
In an address, the Executive Secretary of the Federation of Osun Cooperative Union, Mr Wasiu Bello maintained that the previous administration diverted cooperative savings, leaving the societies in crisis and financial challenges.
Mr Bello appreciated Governor Adeleke for repaying the diverted savings while applauding the creation of the Ministry of Cooperatives and Empowerment, calling it the first of its kind in Nigeria.
The cooperative summit which conferred the award of Grand Matron of the Cooperative Movement in Osun State on Yeyeluwa Mrs Dupe Adeleke Sanni had in attendance top government officials including the Deputy Governor, Prince Kola Adewusi; Secretary to the State Government, SSG, Mr Teslim Igbalaye; Chief of Staff to the Governor, Mr Kazeem Akinleye; the host Commissioner, Prince Bayo Ogungbangbe among others.
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