AGF Calls for Transparency in Management of Cooperative Societies Funds

James Emejo in Abuja

The Accountant General of the Federation (AGF), Dr. Oluwatoyin Madein, has urged cooperative societies in Ministries, Departments and Agencies (MDAs) of government to entrench prudence in the management of funds and evolve strategies to boost members’ confidence and aid their growth.

The advice came amidst reports of embezzlement and misappropriation of funds and other anomalies in the operations of cooperative societies in several ministries, departments and agencies (MDAs), 

Speaking while commissioning a water processing factory executed by the OAGF Staff Cooperative Society, in Abuja, Madein, however, expressed delight at the feat achieved by the association. 

According to her, the OAGF Cooperative Society has set a high standard with the efficient and prudent management of funds; an action she said has put them at the forefront of cooperative societies in the country.

She said the association should endeavor to maintain the standard they have set. 

Director, Press, OAGF, Mr. Bawa Mokwa, Madein, also applauded the initiative of the cooperative to venture into water processing project adding that “water is life and no society will survive without water”.

Also, speaking at the occasion, the President of OAGF Cooperative Society, Mr. Idris Sule, expressed optimism that the project will create job opportunities, increase the dividends paid to members, and strengthen the financial base of the association.