FG To Crack Down On Illegal Cooperative Societies.
The Federal Government has announced plans to clamp down on illegal cooperative societies across Nigeria as part of a broader reform aimed at revitalising the sector and enhancing food security.
The initiative, led by the Ministry of Agriculture and Food Security, seeks to ensure that only duly registered and accountable cooperatives operate in the country. This move is expected to foster transparency and efficiency within the cooperative system.
Speaking at the Technical Strategy Session on the Implementation of the Cooperative Reform and Revamp Programme in Abuja on Wednesday, the Minister of State for Agriculture and Food Security, Senator Aliyu Abdullahi, expressed concerns over the proliferation of fraudulent cooperatives. He emphasised that the government would take decisive steps to address the issue.
“We will introduce a new order where cooperatives are not just registered but registered for their actual activities. It is alarming that some individuals operate in the name of cooperative societies without proper registration. Just recently, in my own community, someone defrauded residents under the guise of a cooperative society,” he stated.
The minister further stressed the need for reforms to curb abuses within existing cooperatives, highlighting that the Renewed Hope Agenda of President Bola Tinubu’s administration is committed to restoring integrity in the sector.
Abdullahi also reaffirmed the government’s recognition of the crucial role cooperative societies play in economic growth, poverty reduction, and social development. The reforms are expected to bring greater accountability and efficiency to the sector, ensuring that cooperatives contribute meaningfully to national development.