A group photograph of members after the meeting.
Story by Dili Utomi.
The management of the Outdoor Advertising Association of Nigeria’s Cooperative Multi-purpose Society (OAAN CMS) has detailed the performance of the cooperative society over the past year in its second annual general meeting (AGM) held at the OAAN Secretariat at Amuwo Odofin in Lagos.
The meeting was presided over by the chairman of the CMS Mr. Wale Odubanjo and also attended by the management staff as well as the current president of OAAN, Chief Emmanuel Ajufo and some past presidents of the parent body. The scorecard of the Cooperative Society was examined. The treasurer of the CMS, Marcel Achigbu read out the financial report for the year under consideration and detailed that “the reserved fund/retained earnings for 2021 was #253, 236.00k as against the #806,083.00k recorded in 2022 bringing about a positive change of #552,847.00k and a 218% difference over the previou years”.
OAAN president, Chief Emmanuel Ajufo in white and green attire being given an award while the chairman of OAAN CMS, Mr Wale Odubanjo, right watches on.
“The financial status of the Cooperative Society in 2021 was a total of #64,650,395.82k and in 2022 it came to #83,436,572,02k with a change of #18,786,176.25k or 29% increase. The exact surplus for the year as detailed by the treasurer for 2021 is #1,012,945.00k, for 2022 it is #3,224,333.00k with a change of #2,211,388.00k”.
The occasion was also an opportunity for the CMS to highlight the support that they have been getting from the president of OAAN, Chief Emmanuel Ajufo who incidentally conceptualised the CMS and also to honour him with an award. Several other members of the OAAN family were also awarded for their various contributions to the success of the OAAN CMS.
At the end, the chairman of the OAAN CMS, Mr. Wale Odubanjo fielded questions from the journalists present, he said “the performance of the OAAN CMS has been quite wonderful especially over the past one year as we have been able to more than double the indices of the Cooperative Society over the period”. He noted that they got a special letter of commendation from the Director of Cooperative Services of the Lagos State Ministry of Commerce, Industry and Cooperatives and that they were voted as the best Cooperative Society around the Amuwo Odofin area of Lagos State.
He says that the single most important ingredient that drives their success is strong focus as he advises other members of OAAN to come in and key into this cooperative. Mr. Odubanjo also advised the government to do more by reaching out to the Cooperative Societies that are doing well, this is in other to disburse funds to them to be able to support their SME businesses to grow much bigger.
For advert placement and more information please call us on 08027590195, 08035721540 or email us at [email protected] or send us messages on twitter @dn_utomi or on instagram @utomidili
