Bodija Unique cooperative records N117.8m assets, inaugurates Adesope-led exco at 9th AGM

The Bodija (Ibadan) Unique Cooperative Investment and Credit Society Limited has reported total assets of N117.8 million as of March 31, 2026, as Mr Olufemi Adesope, and other executive members were inaugurated for the 2026/2027 cooperative year.

The inauguration took place at the society’s ninth Annual General Meeting (AGM) held on October 10, at Segun Aganga Hall, International Conference Centre, University of Ibadan, Ibadan, Oyo State capital.

The event featured exhibition, presentation of dividends to members and awards to members, sponsors and donors in recognition of their contributions to the society and the AGM.

The financial statement presented at the meeting by the financial secretary, Mr Philip Lawal, showed that the society recorded a net surplus of N5.54 million for the 2025/2026 financial year, while members’ savings stood at N55.17 million and share capital at N25.43 million.

The society’s investments included N29.96 million in ARM Reinvest, N10 million in Sukuk investment, N9.5 million in Federal Government bonds and N3 million invested in Stanbic Bank, alongside other investments and bank balances.

In his acceptance speech, Adesope, who was re-elected for another term, expressed gratitude to members for the confidence reposed in his leadership, describing his renewed mandate as a call to greater service, accountability and commitment to the society’s growth.

He said the theme for the 2026/2027 cooperative year, “Building Bridges, Empowering Members: Cooperatives in the Digital Age,” underscored the need to strengthen relationships among members in Nigeria and the diaspora while embracing technology to improve the society’s operations.

Adesope identified continuous growth as the society’s central objective for the new cooperative year, noting that its progress would depend on the collective commitment and participation of members rather than the executive committee alone.

He listed membership expansion, stronger savings and capital formation, digital transformation, income diversification, strategic partnerships and improved governance among the priorities of his administration.

According to him, the society would pursue the digitalisation and automation of its operations, including member registration, savings, loans, investment monitoring, communication, reporting and performance tracking, to improve efficiency, accessibility and transparency.

He also called for the development of new business opportunities, property investments and other sustainable income-generating ventures to increase returns to members.

The president urged members to save more, invest wisely, attend meetings, support legitimate initiatives and contribute ideas towards the society’s development.

“Let us move from being members who simply belong to the society to members who actively build the society. Every contribution matters. Every idea matters. Every act of commitment matters,” he said.

Earlier, the keynote speaker, Professor Sulaiman Adesina Yusuf of the Department of Agricultural Economics, University of Ibadan, called on cooperative societies to embrace digital technology to improve member participation, financial accountability and access to services.

Yusuf, who spoke on the anniversary theme, said technology could help cooperatives bridge geographical barriers, connect members across generations and improve the management of savings, loans and investments.

He, however, cautioned that digital transformation should not be pursued merely as a trend, stressing that technology must serve members’ needs and complement the cooperative principles of democratic control, transparency and shared economic benefits.

The professor noted that digital tools could make financial records more accessible to members and improve communication, but warned that they could not replace trust, accountability and meaningful participation in cooperative governance.

Yusuf identified poor internet connectivity, the cost of digital devices and data, inadequate digital literacy, unreliable electricity and cybersecurity risks as challenges that cooperative societies must address.

He urged cooperative leaders to invest in members’ training before introducing new technologies, adopt digital solutions gradually and retain non-digital options for members who need them.

He also called on government and development partners to invest in rural broadband, reliable electricity, cooperative education and financial inclusion policies to support the digital transformation of cooperative societies.

The ninth anniversary meeting brought together cooperative members, government representatives, religious and community leaders, invited guests and other stakeholders to celebrate the society’s achievements and set its priorities for the coming year.