The National Orientation Agency Farmers Multipurpose Cooperative Society (NOAFMCS) has recorded an impressive financial performance, posting an almost 200 per cent increase in net surplus for the 2025 financial year, as members overwhelmingly re-elected Mrs. Patricia Nkiru Umunna as President during the Society’s 11th Annual General Meeting (AGM) held in Asaba.
The AGM, held at the National Orientation Agency Hall, Federal Secretariat, Asaba, brought together members of the cooperative, executives of its mother union, Oshimili I Cooperative Society, and representatives of sister cooperative societies, including the National Directorate of Employment (NDE), National Bureau of Statistics (NBS), among others.
Presenting the management committee’s stewardship report, Mrs. Umunna described the 2025 financial year as one of the most successful in the Society’s history, revealing that the cooperative achieved an almost 200 per cent growth in net surplus compared to the previous year.
She attributed the remarkable feat to prudent financial management, transparency, accountability and the unwavering commitment of the management committee, noting that the cooperative remained resilient despite prevailing economic challenges.
Mrs. Umunna, who also serves as Deputy Director, Administration and Human Resources of the National Orientation Agency and recently emerged as the Public Relations Officer of the College of Heads of Federal Establishments in Delta State, however identified a number of challenges confronting the Society.
According to her, declining membership resulting from staff retirements, the growing trend of online borrowing by members, non-remittance of deductions at source and difficulties in loan recovery remain major concerns requiring urgent attention.
Responding to the President’s report, the representative of the President of the mother union, Oshimili I Cooperative Society, Mr. Andy Enwema, cautioned members against excessive reliance on online loan platforms, describing the practice as financially destructive.
He encouraged members to patronise the cooperative whenever they required loans, assuring them that the executive committee remained committed to considering genuine requests in line with the Society’s policies.
Addressing questions on members’ end-of-year welfare packages, Mrs. Umunna explained that the cooperative adopted monetary equivalents rather than physical gifts because members had different preferences. She said the approved welfare benefits would continue to be paid directly into members’ bank accounts.
During the interactive session, Comrade Abel Johngold advocated a more inclusive welfare policy, suggesting that soft loans should not be restricted to Christian members during Christmas alone but should also be extended to Muslim faithful and traditional worshippers during their respective festive periods.
He also commended the outgoing executive committee for what he described as an outstanding performance before moving the motion for the dissolution of the management committee, which was unanimously adopted.
The election of new officers, supervised by Mr. Enwema, saw members return Mrs. Patricia Nkiru Umunna as President.
Other officers elected include Mrs. Ngozi Onyema as Vice President, Mrs. Florence Nwabuzor as Secretary, Mrs. Sarah Owere as Treasurer, while Comrade Wilbet Ijeoma emerged as Executive Member.
In her acceptance speech, Mrs. Umunna expressed gratitude to members for renewing their confidence in her leadership and pledged that the new executive would consolidate on existing achievements while introducing initiatives that would further strengthen the cooperative.
She also expressed optimism that Nigeria’s economic environment would improve, creating greater opportunities for businesses and cooperative societies to thrive.
The Delta State Director of the National Orientation Agency, Mrs. Tracy Ikolomi, commended the cooperative for its impressive performance and urged the newly elected executive committee to surpass the achievements of the outgoing administration.
She particularly challenged the new leadership to intensify membership mobilisation, noting that while several older members had retired from service, many newly employed staff of the Agency were yet to join the cooperative.
Mrs. Ikolomi also appreciated members who travelled from various local government areas to attend the meeting and prayed for continued growth, prosperity and successful business operations for the Society.
Highlights of the AGM included the presentation and adoption of the audited financial records, dissolution of the outgoing executive committee, election of new officers, goodwill messages from stakeholders, refreshments and group photographs.