FMTACS rakes N26m surplus in 2019

.. Records over 1000 members in 2 years

Federal Ministries of Transport/Aviation, FAAN, NCAA, NAMA, AIB & Allied Organizations Staff Investment & Thrift Cooperative Society Limited, says it has recorded a tremendous dividends surplus of N26m in 2019 as against N16m in 2017 The president of the FMTA, Mr Babatunde Sortin who disclosed this to journalists in his office at the airport said it has also recorded an increase of members in its current membership drive.

The president of the cooperative Mr..explained that the management of the cooperatives will remain committed to working harder to surpass the achievement so far recorded.

Akwa Ibom shuts secondary school over students’ riot

According to Sorti, the cooperatives will henceforth embark on cost-saving measures to reduce whatever expenditure in order to increase its veritable dividend for members increase. “Last AGM, our dividend, our surplus rose from N16 million in 2017 to N26 million that we gave out as dividends to our members, in fact, became a challenge to us to maintain it, you know there are some progress you make, so achievements you have that become wahala for you of how to do”

According to him, in less than 6 months the cooperatives hall which hardly raise N400, 000, raked in N4 million for a very short period adding that the management remained focus in uplifting the status of its members

On training, Sorti disclosed that about 160 members especially those at retirement age were trained last year on various skills saying that but for paucity of funds 200 would have been slated for training “We don’t take training lightly here, we train our members on entrepreneurship and pre-retirement so that when they retire you have something to lay your hands upon. Last year, we trained about 160 for the paucity of funds, we have to be doing it bit by bit, we have over 3,700 members so we cannot train all of them in one sweep, it is a gradual process.

On membership drive, the president disclosed when he took over, the membership strength was a little above 2000 adding that it’s now over 3,700 while more members were still showing interest in the most progressive multi-purpose cooperative society in aviation today.

 “At the time I took over NAMA sector,we were having about 300 and something people, today NAMA is over 600, FAAN from little over 1,000 but today, we are close to 2,000, the society is doing well.”

About the author

Our Correspondent

Leave a Comment