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OSSC financial
base rises to N9m
Report
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From
ODEYEMI Samuel, Akure
The Ondo State Sports Council Staff Cooperative Multipurpose Society
Limited [OSSC] has increased its financial base from six million
Naira to nine million Naira in the last three years.
The Chairman of OSSC, Mr. Micheal Fabonmi who disclosed this at the
31st Annual General Meeting (AGM) in Akure attributed the increase
of the revenue base to the improved pay package of staff by the
state government.
According to him, the financial strength of the society increased
more than that of last year as a result of members response to
increase in their savings from 315 to 320 Naira monthly there by
affecting their lives positively.
Other modes of savings introduced by the society include, a
Christmas savings scheme and various bank loans.
He however expressed profound gratitude to members for their maximum
support for the repayment for essential commodities and house hold
materials purchased for members by the society.
The Share capital which was 6,221,651 million Naira in 2006 rose to
7,705,552 million Naira in 2007 and later 9, 293,430.24 million
Naira in year 2008.
Members were later given gift items to mark the end of another
financial year.
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