As part of efforts to bridge the technological gap in the activities of cooperative societies in Nigeria, the National Cooperative Financing Agency of Nigeria (CFAN) in collaboration with Computer Warehouse Group (CWG) and MTN Nigeria has organised a workshop aimed at creating innovations in common accounting reporting standard for all cooperative societies in the country.
At the inaugural workshop yesterday in Abuja, the Federal Director of Cooperative, Minister of Finance Mr John Zakariya Musa said that the unified cooperative platform hopes to effectively and efficiently manage the day to day operations of cooperative societies so as to supply required data to guide policy makers on decisions concerning relevant programmes.
“Nigeria cooperative society must operate in line with cooperative global standard and best practices and hence have no option than to imbibe technology so as to entrench probity, accountability and transparency as a key to winning the confidence of the co-operators.” he said.
The Vice President of CFAN Mr Ndon Abia in his welcome address expressed regret that quite a number of cooperatives in Nigeria do not have a formidable accounting arrangement, a situation which has seen them relegated to the background in the financial development of the country.
“We have nearly 300,000 cooperative societies and 30, million co-operators and in Nigeria and this type of activities will help them to brace up their activities, the workshop will encourage them to key into to development which have seen growth in other sectors,” Abia said.
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