The newly-elected Executive members of the FUNAAB Staff Cooperative Multipurpose Society Limited led by the President, Mrs. Margaret Omisope on Wednesday, September 1, 2021 paid a scheduled visit to the Vice-Chancellor to avail him of their plans for the Society.
Speaking at the brief meeting, the Vice-Chancellor, Professor Felix Kolawole Salako, while congratulating the Executives for the keenly contested and fair election, stated that he hoped it would be a better deal for the members. According to him, knowing the pedigree of Mrs. Omisope on financial transparency, one would confirm that the Society is in safe hands.
Professor Salako recalled that it was based on the integrity of Mrs. Omisope that she was called into service again to reverse the declining fortune of UNAAB Microfinance Bank (UMFB), as the Managing Director of the Bank in 2018. She did not disappoint and has not disappointed.
The Vice-Chancellor who is also an active member of the Society, noted the importance of market survey before the commencement of any commercial project, saying that the ongoing construction of the massive edifice at the Society’s Secretariat must be completed. He, however, charged the newly-elected Executives to re-strategise on the way forward for the building so as to generate the expected income.
On loan defaulters, the Vice-Chancellor observed the rising cases in the University, saying that some staff even collected multiple loans from different sources with fake payslips. This, he said, is obviously, a criminal offence. He, therefore, advised the Executives to write formally to the University Management if they need support specifically on loan recovery.
Buttressing the Vice-Chancellor’s directive on the loan recovery matter, the Deputy Vice-Chancellor, Development, Professor Clement Adeofun requested the Executives to seek the approval of the General Meeting of the Society on the direction to take on the issue.
Earlier, the President of the Society had sought the Vice-Chancellor’s support to recover the Society’s funds from loan defaulters so as not to impede requests from others. She added that the ongoing construction of the COOP Hall still remain paramount because it has to be completed.
The meeting had in attendance the newly-elected members of the Executive and Committee of the Society.
