… AS COOPERATIVE SOCIETIES RECEIVE N350M INSURANCE CLAIMS IN THREE YEARS
Lagos State Ministry of Commerce, Industry and Cooperatives has said that the various cooperative societies in the State, within the last three years, have received claims of N350 million since the State Government instituted insurance package for cooperators across the State.
The Permanent Secretary in the Ministry, Mrs. Omobolanle Ogunmola, who disclosed this on Tuesday at a Press Conference heralding the plethora of activities slated for this 2019 International Days of Cooperatives celebration in Lagos, stated that the sum of N55 million was paid as claims within the last one year to cooperators while the State government also registered additional 423 Cooperative Societies within the same period.
She said the event, which will be jointly organised by the Ministry in conjunction with Lagos State Cooperative Federation (LASCOFED), the apex body for all Cooperative Societies in the State, is usually celebrated to showcase the achievements of Cooperative Societies with a view to motivating other Societies to work assiduously towards success and to enhance the establishment of more Cooperative Societies.
Ogunmola attributed the increased interest of Lagosians in cooperative societies to a favourable operating atmosphere made available by the State Government, adding that additional Cooperative Area Offices have also been created to enhance efficient and effective supervision of the activities of the various cooperative societies.