UNAAB CMS AGM: Don’t Politicise Our Cooperative Society – VC …Warns Users of Fake Pay Slips

The University Vice-Chancellor, Prof. Kolawole Salako has warned the Executives and Cooperators of UNAAB Staff Cooperative Multipurpose Society Limited in general not to bring politics, religious leaning’s and sentiment into the affairs of the society in order not to compromise standards and lose their money and assets.

The Vice-Chancellor further cautioned cooperators to desist from using fake pay slips to collect fat loan and to drop the habit of collecting loans that are beyond their capacity.

Prof. Salako sounded tough at the 32nd Annual General Meeting of UNAAB Staff Cooperative Multipurpose Society Limited, which was characterised by excitement of profit declarations and innovative development.

A Cross-section of Cooperators during the 32nd AGM of the UNAAB Staff Coop. Society.

The Vice-Chancellor who from the beginning of his speech declared that he was speaking as a bonafide cooperator and not as Vice-Chancellor, seriously warned Cooperators to refrain from desecrating the sanctity of healthy cooperative management with union oriented politicization, religious and staff cadre consideration.

Addressing scores of cooperators who filled the 2000 Capacity Lecture Theatre, Venue of the AGM, Cooperator Salako warned that once politics and religion are injected into the running of the staff Cooperative Society, it will compromise standards and money and assets therein will no longer be safe.

He reminded Cooperators that they joined the Cooperative Society as individuals and not as union members, adherents of religious faith and a particular cadre of staff whether as Senior or junior workforce.

According to him, “Please don’t bring politics, religion and seniority into our cooperative society.  If you do, your money will be compromised”.  “You joined this cooperative as individual and not on the basis of union membership, religious faith and even your position as members of staff of the University; but if you do, you will lose your money and I don’t want to lose my money”.

Speaking further, Prof. Salako noted with dismay that some cooperators have cultivated the nefarious habit of biting more than they could chew by taking loans that are beyond the capacity of their salaries.

He described the habit as illegal and criminal because financial regulations on loan stipulates that taking more than 70 percents of individual salary as loan is a crime.

The Vice-Chancellor, Prof. Kolawole Salako (middle) in a group photograph with members of the UNAAB Staff Coop. Society Executives.

The Vice-Chancellor pointed out that there’s tendency for any staff who took loan that is more than 70 percent of his salary to resort to fraudulent means of surviving within and outside the system since he or she had borrowed beyond his or her capacity.

Cooperator Salako said the illegal act aforementioned, might not be unconnected with why some unscrupulous staff used fake pay slips to collect fat loans, warning that the University won’t hesitate to disengage such from service if caught.

The Vice-Chancellor who commended the President Olusola Fatokun – led Executives for a job well done within first year of office described his membership of FUNAAB Cooperative Multipurpose Society as highly rewarding, affirming that he has no regret whatsoever.

However, Prof. Salako disclosed that initially he was averse to joining any cooperative society when he joined the University services because his father said it was not right to take loan based on his belief that one must learn to be prudent and live within his means instead of borrowing.

He said, “As a boy, my father told me that it was not right to take loans, but in 2009 I started taking loan and I’ve been enjoying it.  It has been beautiful all along.  It has assisted me in doing some tangible things”.