Airport Fire Cooperative Society declares over N44M surplus fund

THE Murtala Muhammed Airport Fire and Safety Cooperative Multipurpose Society (AFSCMS) has declared a surplus fund of over N44 million with members’ dividends at over N26 million in its 2019 financial year.

Speaking at the 20th annual general meeting held at the Murtala Mohammed Airport staff school Ikeja, the president of the society, Alhaji Saheed Anako Sadiq said members’ accounts would soon be credited with their dividends.

Sadiq who lamented how activities of the cooperative were greatly affected by the outbreak of the Covid-19  pandemic which led to the non remittance of members fund by FAAN to the cooperative, declared that the situation made it difficult for them to meet loan requests from members.

According to him,  loan issuance  was suspended as FAAN consisted of 65 per cent of the inflow and could not meet up with members demand, though he assured that all outstanding FAAN debts would be paid by the end of December with plans concluded to stock both consumables and electronic appliances directly from the dealers at lower and responsible costs to be sold to members.

On the welfare of members, Sadiq explained that the Agbara land payment has been completely defrayed just as the group has commenced the issuance of provisional letters of allocation to subscribed members.

Sadiq, however, lamented that membership drive of the cooperative has dwindled as a result of retirement and more disturbing, the voluntary withdrawal by members over what he called hostility of some of the secretarial staff.


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