METCOPS Declares ₦22.9 Million Dividend; Records 19.4% Revenue Growth at 2025 AGM

The Mega Thrift and Credit Multipurpose Cooperative Society (METCOPS) of the Federal Polytechnic Bali has declared a dividend of ₦22.9 million for its members following a highly successful 2025 financial year.

The announcement was made during the society’s 7th Annual General Meeting (AGM) held on Wednesday, March 11, 2026, at the Executive Lecture Theatre of the Polytechnic.

Strong Financial Performance and Diversification

Presenting the financial report, the Financial Secretary, Mr. Michael Adelaja, revealed a 19.4% increase in revenue compared to the previous year. The cooperative realized a substantial net profit of ₦230.5 million, leading to the ₦22.9 million dividend distribution.

A key highlight of the society's growth is its successful diversification into the transport sector. The Chairman, Dr. Lamidi Tajudeen Babatunde, noted the acquisition of a Toyota Hiace bus for ₦26 million, which commenced commercial operations in January 2026. The venture has already yielded a profit of ₦3 million within its first two months of operation.

Under the umbrella of METCOPS Mega Support Services Ltd, the cooperative recorded several strategic achievements in 2025:

 The purchase of four additional plots of land at Sauka Kahuta valued at ₦4.5 million.

 Successful registration with the Special Control Unit Against Money Laundering (SCUML) to enhance institutional transparency.

 The launch of an official METCOPS website to streamline member transactions and administrative processes.

 Expansion of financial partnerships to include Zenith, Access, GTB, and UBA.

In his welcome address, Dr. Babatunde paid tribute to deceased founding members, including Mr. Adedeji Musbau and Mr. Zumo Abubakar. He reaffirmed that the cooperative’s core vision remains building a "dependable pool of funds" to support members through loans, investment opportunities, and humanitarian activities.

Membership has surpassed 400 registered individuals, comprising staff, non-staff, and associate members. To further support this growing base, the management committee is currently reviewing an extension of loan repayment periods to 36 months.

In response to member suggestions for increased transparency, the Chairman assured the congress that the cooperative is moving to engage an external auditing firm to provide independent oversight of its burgeoning financial portfolio.

The AGM concluded with members commending the executive committee for their visionary leadership and the consistent delivery of value to the cooperative's stakeholders.