Federal Poly Bali Cooperative Declares ₦3.23M Dividend, Unveils Digital Reforms at 10th AGM

The Staff Compassionate Multipurpose Cooperative Society of the Federal Polytechnic Bali has declared a total dividend of ₦3,228,535.40 for the 2025 financial year. The announcement, made during the Society’s 10th Annual General Meeting (AGM) on February 13, 2026, represents a significant 66% increase over the ₦1,945,974 declared in the previous year.

The meeting, held at the institution's Executive Lecture Theatre 2, served as a platform to review a year of robust financial growth and enhanced member welfare.

In his welcome address, the Chairman, Dr. Mohammed Usman (represented by Abdulmarooph Olayiwola Adisa), emphasized the cooperative's role in providing economic stability. Key highlights from the 2025 financial report included:

Interest-Free Support: The disbursement of ₦8,928,000 in interest-free cash loans to members.

Asset Acquisition: Expansion of the land acquisition scheme and asset ownership initiatives.

Increased Loan Ceilings: Fixed asset loans have been restructured, allowing senior staff to access up to ₦1,000,000 and junior staff up to ₦700,000, subject to eligibility.

A major milestone announced by Mallam Mohammed Hamidu is the full digitization of the cooperative’s operations. Members can now lodge complaints, track savings, and make inquiries remotely. This move is expected to drastically improve transparency, responsiveness, and administrative efficiency.

Commitment to Sustainability

Financial Secretary Mallam Abdullahi Adamu Dodo reported a steady rise in the cooperative’s total assets, while Dr. Yahaya Tukur concluded the event by urging members to remain proactive. The leadership reaffirmed that the "Compassionate" model remains open to new ideas to further strengthen the financial safety net for the polytechnic’s workforce.