The National Institute for Educational Planning and Administration (NIEPA) Staff Multi-Purpose Society held its 26th Annual General Meeting (AGM) on Thursday 31st October, 2024 at the corporate headquarters of NIEPA in Ondo. The AGM provided a platform for members to review the society’s performance, address key issues, discuss new opportunities, and make pivotal decisions shaping its trajectory. As an essential gathering, the AGM aimed to facilitate open communication among members, ensure accountability, and foster cooperation. The meeting was attended by a majority of its members, with staff from liaison offices across the country participating virtually.
Speaking at the AGM, President of the Society, Mr. Amos Amoo, seized the opportunity to address key issues, discuss new opportunities, and make pivotal decisions. He began by presenting the society’s financial reports for the 2023 financial year, spanning from January 1 to December 31, 2023. Amoo highlighted that the capital base of the society had increased appreciably but announced a reduction in the net worth. According to the president, this reduction was due to the reduced balance loan interest method adopted last year, replacing the upfront interest method. This change, he explained, was made in response to members’ concerns about the negative impact of the upfront interest method on borrowed loans.
Amoo also listed notable achievements recorded in the year under review, including membership growth, digital transformation of the society’s operations, efficient loan disbursement, and seamless retirement benefits. However, he regretted that a major obstacle faced by the cooperative society was the delayed remittance of deductions by the Integrated Payroll and Personnel Information System (IPPIS). This, he noted, had many a time slowed down operations of the society in discharging its responsibilities.
Amoo called on all cooperators and stakeholders to join hands to work towards a brighter future, built on the principles of unity, cooperation, and mutual benefit. He emphasized the importance of collective effort in achieving the society’s goals and overcoming challenges.
Special guest at the AGM, Dr. David Shofoyeke, Acting Director-General of NIEPA and a member of the Society, congratulated the society on its 26th anniversary and AGM. Dr. Shofoyeke commended the society’s achievements and resilience, emphasizing the significance of cooperative societies in promoting financial inclusion and stability among staff members. He encouraged continued support for the cooperative’s growth and urged members to uphold the principles of cooperation and mutual benefit. Dr. Shofoyeke also reiterated NIEPA’s commitment to staff welfare and development, acknowledging the society’s vital role in enhancing staff well-being.
Furthermore, Dr. Shofoyeke urged members to scale up their shares and savings in the society, emphasizing the importance of maximizing benefits upon retirement from active service. “By investing in the society, you are securing your financial future,” he advised.
Other goodwill messages came from esteemed guests, including Registrar of the Institute, Dr. Festus Olaolu; Ondo State Cooperative Services Area Officer, Mrs. Olanrewaju D.Y; erstwhile chairman of the society,; Mr. Kehinde Ibrahim; Engineer Taiye Ajayi; Mrs. Folayemi Akinladejo and SERVICOM Focal Officer, Mr. Ugo Nwosu. The speakers charged staff members to continue supporting the cooperative, diversify its interests for mutual gain, and be mindful of the character of persons who would aspire to lead the cooperative in the future.
The AGM demonstrated the society’s commitment to transparency, accountability, and member empowerment, setting the stage for a brighter future. As the society celebrates its 26th anniversary, it is poised to continue providing valuable services to its members, fostering cooperation, and promoting financial stability.
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