OWOLOWO MAKUN SAGAMU CTCU LIMITED HOLDS 44TH AGM AND FORMATION OF NEW UNION

The 44th Annual General Meeting (AGM) of Owolowo Makun Sagamu Remo CTCU Limited took place on Thursday, 27th March 2025, at Ewu-Oliwo Oja Otitokoro, Sagamu, Ogun State, Nigeria. The event also included a send-forth ceremony and the formation of Owowawawa Makun Sagamu Cooperative Multipurpose Union (CMU) Limited. The President, Asiwaju Prince Lateef Adewale Oriade FICP, welcomed delegates and highlighted the Union's financial growth, with a net surplus increase from N1,544,542.28 to N2,793,436.09. He emphasized staff welfare, recognizing employees as key drivers of the cooperative’s success. He also announced the formation of Owowawawa Makun Sagamu CMU Limited, aimed at enhancing supervision and cooperative growth. Two board members, Mr. Oladimeji Babatunde and Mr. Idowu Oyemade, transitioned to the new Union. The event center project, a joint initiative involving multiple Unions, was progressing well, and Asiwaju Prince Oriade FICP appreciated the societies' support. He also acknowledged Chief (Mrs.) Modupe Osoare and Sir (Dr.) Chief Olusegun Ayodele JP for their contributions, along with the Director of Cooperative Services in Ogun State and the President ‪@ogscofedcoop‬ The Treasurer’s report revealed 62 cooperative societies with 3,452 male and 4,669 female members, generating a total turnover of N7,946,175,545.00. Pastor Oluyiga Gbodi FICP, President of Owowawawa Makun Sagamu CMU Limited, shared that the new Union was formed by drafting 18 societies from Owolowo Makun Sagamu CTCU Limited in December 2023, growing to 20 societies. Officially registered on 31st October 2024 with registration number 14085, the Union reported a net surplus of N357,500, a membership of 661 males and 1,192 females, and a total turnover of N1,880,508,638. Key resolutions included a minimum share contribution of N200,000 per society and a N10,000 entrance fee. New officers were elected for both Unions. Asiwaju Prince Oriade FICP was honored as Grand Patron of Owowawawa Makun Sagamu CMU Limited, while Chief (Mrs.) Osoare and Sir (Dr.) Ayodele JP were honored as Grand Patrons of Owolowo Makun Sagamu CTCU Limited. Chief (Mrs.) Agunbiade Christiana Funmilayo FICP of the Ogun State Cooperative Women's League presented an appreciation award to Pastor Gbodi FICP. The event also saw the launch of Owowawawa Makun Sagamu CMU Limited and Owo Group Makun Sagamu Cooperative Investment and Credit Society Limited, registered on 31st October 2024 with certificate number 14081. The investment group had raised N32,592,000 by 31st December 2024, with operations set to begin in 2025. Pastor Sam Mustapha FICP, Director of Cooperative Services, presented the registration certificates. Prominent figures, including Alhaji Wasiu Olaleye FICP of OGSCOFED, Prof. Yissau Titilola of ‪@oduacooperativeconglomerat3760‬ , and Mrs. F.O. Adesina FICP of ICOPRON, praised Owolowo’s leadership. Other dignitaries in attendance included cooperative leaders from across Ogun State. #WeAreCoops #CooperativesBuildABetterWorld #TheOgunCoopWeWant ‪@internationalcooperativeal885‬ || ‪@ILO‬ || ‪@f-gasco-op4587‬ ||