The Independent National Electoral Commission Staff Cooperative Multipurpose Society has declared a surplus income of N34,475,508 for 2024, as against the N21,656,126 recorded in 2023.
The cooperative president, Nenrot Gana, disclosed this during the society’s annual general meeting and election held on Wednesday in Abuja.
Mr Gana explained that the total income for the year stood at N52,517,734, while the expenditure as of December 31, 2024, was N18,042,225. He also declared a provision of N22,017,759 for dividends for the year, compared to N12,782,738 shared in 2023.
He explained that during the year under review, the cooperative faced challenges ranging from inflation to limited resources, mainly from members’ savings. He said that despite the challenges, the cooperative was able to meet the needs of members in areas such as loans and others.
He sued the commission’s management to continue supporting the society, especially in the area of housing scheme loans for members to meet their accommodation needs.
Speaking in an interview after his re-election, Mr 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 the automations of our accounting process and other activities. We will improve 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 continued support from members and urged the commission’s staff who had not yet joined the cooperative to do so.
He noted that while some members were unwilling to join due to their religion and other reasons, the new executive would be embarking on an aggressive campaign to encourage staff members who had not yet joined.
He revealed that many national commissioners and resident electoral commissioners are members.
He expressed hope that INEC’s chairman, Joash Amupitan, would join, adding that his membership would motivate more staff to do the same.

(NAN)