The Independent National Electoral Commission (INEC) Staff Co-operative Multi-purpose Society has declared a surplus income of N34,475,508 for the year 2024 as against the N21,656,126 recorded in 2023.
The Cooperative President, Nenrot Gana, disclosed this during the society’s 2025 Annual General Meeting (AGM) and election held on Wednesday in Abuja.
Gana explained that the total income for the year stood at N52, 517,734 while the expenditure was N18,042,225 as at Dec. 31, 2024.
He also declared the sum of N22,017,759 as provision for dividend for the year compared to N12,782,738 shared in 2023.
He explained that during the year under review the comparative dealt with challenges ranging from inflation to limited resources majorly from savings by members.
He said that in spite the challenges, the cooperative was able to meet the needs of members in areas of loans and others.
He sued for the commission’s management continued support for the society especially in the area of housing scheme loan for members to meet their accommodation needs.
Speaking in an interview with the News Agency of Nigeria (NAN) after his re-election, Gana assured members of better services going forward.
“We are going to be more efficient, more deliberate, more committed and more humble in addressing issues affecting members.
“We are going to improve on automations of our accounting process and other activities. We will improve on the finances of the cooperative; invest smartly and return huge profits on investment.
“Like you just saw from N12 million to N22 million; that is 100 per cent kind of return on investment. That’s what we will continue to do for our members,” he said.
He called for the continued support of members and urged the staff of the commission yet to join the cooperative to do so.
He noted that while there were some members not willing to join due to their religion and other reasons, the new executive would be embarking on aggressive campaign for staff members who were yet to join.
He revealed that many national commissioners, state Resident Electoral Commissioners were already members.
He expressed hope that the commission Chairman, Prof. Joash Amupitan would join, adding that his membership would motivate more staff to join.
In his remarks, Chairman, Health and Welfare Committee INEC, Prof Sani Adam, commended the professionalism and prudence financial management by the society’s leadership.
Adam advised the cooperative to keep up the good work, while pledging the commission’s continued support to the society to realise its housing scheme project.
Similarly, the Director of Administration, Mr Austin Nnadi, urged members to continue to work together to build a stronger and prosperous cooperative society in the commission.
Members of the newly elected executive include Agyo Bala, Vice President, Effiong Sunday, Secretary General, Yahaya Mahmoud, Assistant Secretary, and Alali Fubara, Treasurer.
Others are Onalo Peace, Financial Secretary, Ibrahim Adamu, Internal Auditor, Adegbite Funmilayo, Public Relations Officer, and Pius Martha, Welfare Officer.
