The FUNAAB Staff Co-operative Multipurpose Society Limited, has been described as a unifying platform for the promotion of oneness, as well as enhancing the standard of living of its members. This was the observation of the Vice-Chancellor, Professor Olusola Oyewole, while delivering his address at the 26th Annual General Meeting (AGM) of the Society, held recently.

The Vice-Chancellor lauded the selfless service and commitment shown by members of the executives, noting that the society has its membership spread across the entire staff of the University Community.

He pointed out that through the Co-operative Society, members of staff have been able to build their own houses and afford basic amenities that make life comfortable for them, adding that with the capital strength of the Society, it could now be referred to as a “Microfinance Bank”.

Professor Oyewole commended the contribution of the President of FUNAAB Staff Co-operative Society, Professor Adewale Dipeolu, who by virtue of his position, is also a Director in the Board of the University’s Microfinance Bank, for his role at re-positioning the bank, assuring that very soon, stakeholders in the bank would have cause to smile.

The Vice-Chancellor thanked members of staff for their understanding and patience during the on-going strike, stating that very soon, normalcy will be restored to the Nigeria’s higher educational system.

Earlier in his Address, the President of the FUNAAB Co-operative Multipurpose Society Ltd, Professor Adewale Dipeolu, disclosed that though the Society previously experienced financial turbulence, it is now waxing stronger.
He said that the Society recorded a higher net surplus profit this year than the preceding year from N39,505,028.94 to N47,540,293.53, due to the large volume of loans that it gave out.

High Point of the AGM was the return of the current leadership, their positions as a result of the trust that members reposed in them.

The returned officers are: Professor A. O. Dipeolu, President; Alhaji K. A. Adedo, Vice-President; Mrs. T. M. Okuboye, Treasurer; Mrs. B. A. Olusoji, Secretary; Professor A. B. Aina, Ex-Officio Member; Mr. D. D. Giwa, Ex-Officio Member; Mr. S. O. Obimakinde, Ex-Officio Member; Mrs. A. A. Labulo, Ex-Officio Member and Mrs. T. O. Tijani, Ex-Officio Member