Elizade University Cooperative Records 60% Dividend Payout at 13th AGM

The Elizade University (EU) Staff Multipurpose Cooperative Society has announced an exceptional financial performance during its 13th Annual General Meeting (AGM), declaring a 60 per cent dividend payout on members’ shares.

The Society also reported a robust 31 per cent growth in its overall operations, reinforcing its status as a cornerstone of financial stability for the university’s workforce. 

The Vice-Chancellor of Elizade University, Professor Philip Oguntunde, praised the Executive Committee for their transparency and dedication. He emphasized that cooperative societies are vital for workers, as they foster a culture of savings and provide accessible credit facilities that are often unavailable through traditional banking. 

In his keynote address, the Chairman of the Society, Dr. Sunday Ogbeide, unveiled several member-centric initiatives aimed at modernizing the cooperative's services:

Emergency Loan Policy: A new framework to ensure members can access funds rapidly during unforeseen financial crises.

Asset-Based Loan Scheme: A policy designed to promote financial inclusion and help members generate sustainable income.

Digital Migration: The Chairman announced the development of a dedicated mobile application to digitize records, ensure data reliability, and streamline loan approvals.

The 13th AGM concluded with a reaffirmed commitment to transparency and innovation. By simplifying loan processes and embracing digital tools, the EU Cooperative Society continues to position itself as a leader in staff welfare and economic empowerment within the academic community.