The State Director of Co-operatives in the Rivers State Ministry of Commerce and Industry, Mrs. Elizabeth Wike, has commended the Management Committee of the United Port Harcourt Peoples Co-operative Investment and Credit Society Limited, for the pragmatic steps to revive the Co-operative and restore the confidence of members.
The State Director of Co-operatives gave the commendation at the Annual General Meeting (AGM) / Presentation of Annual Report & Accounts, held at the Staff School of the University on Wednesday 4th August, 2021.
Mrs. Wike noted that in spite of the challenges that affected the Co-operative Society few years ago, the present Management Committee has put the Co-operative back on its feet. She stated that the feat was achieved with the timely intervention of her office, which she said is the regulatory body for all the Co-operative Societies in the State.
While applauding the members of the Co-operative Society for staying resolute, she assured them that her office will continue to provide the regulatory support for the Co-operative, towards the actualization of the Vision and Mission Statement.
In his remarks, the Registrar of the University, Dr. Sydney C. Enyindah expressed gratitude to the State Director of Co-operatives, for her prompt response when the Co-operative Society was in crisis.
Dr. Enyindah thanked the members of the Management Committee for presenting themselves to serve the Co-operative, in spite of the heat of the crisis that almost wrecked the society.
Delivering his address at the AGM, the President of the Peoples Co-operative Investment and Credit Society Limited, Mr. Mie-Idaala Jones Amachree, noted that when they took over office in November 2019, the Management Committee faced several challenges ranging from funds Misappropriation, litigations from land subscribers, liquidity issue and stoppage of internal deductions.
While thanking God for the wisdom of the Management Committee to look for alternative sources that helped stimulate the Co-operative and restored the confidence of members, he highlighted some of the plans geared towards moving the Co-operative to an enviable height. According to him they include: accessibility to loans at lower interest rate, development of member’s skills through trainings and seminars and provision of professional advisory services to members.
Highpoint of the AGM was the presentation of a Lecture on Investment Opportunities for Co-operative Society, delivered by the Senior Registrar of Co-operatives, Mr. Charles Nwabuike.
The Annual Report and Accounts for the Year Ended 31st December 2020, was presented by the Treasurer of the Management Committee, Dr. George Tamunontonye Peters.
