To be qualified for business plan for cooperative society in nigeria of a society, an individual must have attained the minimum age of 16 years NCSD No.
A cooperative society in Nigeria operates based on mutual aid and conforms to cooperative principles. The colonial administration wasted no time in accepting and implementing it.
It is common for locally owned grocery storeshardware stores and pharmacies. In the United States, cooperatives, particularly those in the Midwest, are analyzed at the University of Wisconsin Center for Cooperatives. This co-operative which happen to be a consumer was modeled along the Rochdale of England — home of the colonialist.
This earliest co-operative society existed to ration out consumer goods — which was very scarce during the world war.
A registered cooperative society is one whose aims and objectives are promotion of economic and social interests of its members by means of common undertaking. The colonial masters appointed MR. No society can be registered with a name that is identical or resembles a name which a person or an association already registered.
This resilience has been attributed to how cooperatives share risks and rewards between members, how they harness the ideas of many and how members have a tangible ownership stake in the business.
Therefore if there is an organization which does not exhibit these qualities, the organization cannot be registered as a co-operative society.
Cooperation among cooperatives Concern for community Cooperatives values, in the tradition of its founders, are based on "self-help, self-responsibility, democracy, equality, equity and solidarity.
The micro-enterprises then combine to form one multi-activity enterprise whose members provide a mutually supportive environment for each other. G Haig was appointed as a registrar of co-operatives in Nigeria to be able to undertake these responsibilities, he was sent abroad to understudy the Indian co-operative movement and law.
Strickland strongly recommended the introduction of co-operatives into Nigeria.
Tillage, planting and harvesting of crops were also undertaken communally. On return from India, the first thing he did was to re-organize the cocoa farmers societies, who were already excelling in the production and marketing of best quality cocoa.
They are legally defined as follows: Official stamp duty of the cooperative To be tendered after name selection, availability and approval Procedure for registering a cooperative An application is made to the Director of Cooperatives requesting your intention to be duly registered as a Cooperatives Society.
Housing cooperatives come in three basic equity structures In market-rate housing cooperatives, members may sell their shares in the cooperative whenever they like for whatever price the market will bear, much like any other residential property. Letter of intent to join the society from prospective members.
The innovation BECs introduce is that once the business is established the entrepreneur is not forced to leave and set up independently, but can stay and become a full member of the cooperative.
For more information, NCR Offices are located at: A lodge or social club may be organized on this basis. The impact of political ideology on practice constrains the development of cooperatives in different countries.
Nigeria is no exception. This will help reduce the risk of making mistakes and also making sure that the necessary information is attached before moving the document to the director for verification and approval.
Membership is not always compulsory for employees, but generally only employees can become members either directly as shareholders or indirectly through membership of a trust that owns the company.
Registration of Cooperative Societies is carried out by different offices under different Ministries depending on the state of registration. The application must also be accompanied by three copies of the by-laws of the proposed society. Tweet 17 Shares Nigeria is a country where many people have fallen in the painful and deceptive grips of fraudsters, hence; everyone is super security conscious and would verify whatever is going to bring money out of their pockets to the last details.
Proposed location of the society example Local Government Area and address Objectives of the Cooperative Membership rules Example Terms of joining, entrance fee, penalty etc Four 4 copies of proposed by-laws of the Society Letter of intent Feasibility study on how the cooperative intend to operate Certified copy of resolution passed at the first meeting of members with the cooperative officer.
The categories of disadvantage they target may include physical and mental disability, drug and alcohol addiction, developmental disorders and problems with the law.
In auxiliary service primary societies the minimum membership is ten. Nowadays such self-building may be financed using a step-by-step mortgage which is released in stages as the building is completed.how cooperative societies began and concluded by stating how government could be of help to the cooperative societies in Nigeria.
Key words: Cooperatives, Potential Users, A strategic business plan is important to harmonize all of the elements for cooperative’s success. INTERNATIONAL JOURNAL OF BEHAVIORAL SOCIAL AND MOVEMENT.
Understanding Co-operatives in Nigeria April, Contents 1. Objectives 2. Research Methodology that work at a federal level on government business, or are national member-based Credit and thrift Possibly the most common form of co-operative society in the 3 states, these.
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Our cooperative society was established with the aim of promoting the growth of /5(37). A cooperative society in Nigeria operates based on mutual aid and conforms to cooperative principles. To register a cooperative society in Nigeria some vital information should first be on ground. These incudes.Download