Story by Dili Utomi.
The sectoral advertising body known as the Outdoor Advertising Association of Nigeria (OAAN) in the year 2020 and under the leadership of its president, Chief Emmanuel Ajufo inaugurated a committee charged with evolving a vibrant cooperative society.
The action gave birth to the OAAN Cooperative and Multipurpose Society (CMS) which has the mandate among other things, to evolve a robust and viable cooperative society that will complement the OAAN brand and foster the interests and welfare of members, to ensure that the foundation of a society that is well administered and able to rank among the best is laid and to ensure that a sustainable basis in the application of the finest principles of accountability, transparency, fairness and sacrifice is achieved.
The chairman of the OAAN CMS, Mr. Wole Odubanjo in his welcome address at the first annual general meeting of the body which took place at the OAAN house, Amuwo Odofin said that “We have been able to overcome the initial problems associated with the take-off of a joint venture like this and we can safely conclude that we are clear on how to navigate through the coming years taking full advantage of our vibrant and dynamic OAAN constituency”.
Mr. Odubanjo noted that the membership strength is on the increase and that the scope of operations has also been increased through commercial loans, sales of essential commodities, support for payment of school fees with other products being developed.
The chairman declared that in the year under review, they have been able to generate a net plus of One Million, Twelve Thousand, Nine Hundred and Forty Five Naira, Ninety Kobo (#1,012,945.90) only out of which dividend will be paid to members.
At the end of the AGM, the chairman of the OAAN CMS spoke to the press and said that about half of the surplus will be paid out as dividends to members, he projected that the volume of operations will be increased in order to also increase the dividends to be paid out to members. Mr. Odubanjo asked all members of OAAN to come and join the moving train of this multipurpose society.
Also, the president of OAAN, Chief Ajufo in an interview said that in the first year of its existence, the CMS has surpassed the expectations and encouraged the management to continue to improve in every area. He asked those who had entertained some level of scepticism on the potentials of the CMS to come in and be part of this venture.
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