NAN-H-81
Cooperative
By Mercy Osajiugo
Bida (Niger State), Feb. 15, 2018 (NAN) The Academic Staff Multi Purpose Cooperative Society of Niger State Polytechnic, Bida Campus, has demanded the remittance of the sum of N2.2m deducted from members salary in 2016 together with 15 per cent interest.
The Chairman of the society, Alhaji Etsunyakpa Busu, told News Agency of Nigeria (NAN) in Bida on Thursday that in spite of several written reminders, the Civil Servants Cooperative Union had failed to honour its promises.
“The Civil Service Cooperative Union has been owing this money deducted from source since 2016.
“In our last Annual General Meeting it was reported and they gave us a mandate to write and we have done that and up till now they are yet remit the money.
“We made it clear to them that they must return it with 15 per cent interest and that is our stand and we would stand by that.
“We are partners in progress that is why we are charging just 15 per cent as interest.
“If we are to go by the new Central Bank policy for all financial institutions, the lending rate is about 33 per cent.
He warned that if the money was not remitted after this first quarter, the society would not hesitate to take legal action to recover its money.
Busu said that the non-remittance of members’ money to the cooperative was adversely affecting its progress. (NAN)
MNO/ESAN/NKO
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Edited by Abiodun Esan/Nkechi Okoronkwo