The Airport Fire and Safety Cooperative Multipurpose Society (AFSCMS) has declared a trading surplus of over N46 million with members’ dividend as rising to N27 million in the 2020 financial year.
The President of AFSCMS, Alhaji Saheed Sadiq, who disclosed this at the Annual General Meeting of the Cooperative Society, remarked that there was an improvement when compared with the previous years in the hospitality business of the Cooperative which, having commenced operations in September 2020, generated an income of over N15 million.
Sadiq lamented how the COVID-19 pandemic negatively affected the activities of the Cooperative Society such as the actualisation of the Alakuko School Project and training of members, among others.
Declaring how the pandemic affected its members remittance as major stakeholders defaulted, Sadiq however expressed joy that all outstanding debts by the agency had been defrayed, adding that members confidence had improved with new ones indicating interest.
The Cooperative boss commended the NCAA management for its continued support during the COVID-19 by remitting its money constantly.
On shares investment, Sadiq said it was a means of generating funds for the Cooperative, hence, encouraging every member to have at least 5,000 whole shares at N2.00 per share.
He equally explained that the special savings window had improved with savings attracting some percentage interest as benefits.
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