Repay Your Loans … Stop Hiding Under IPPIS Deductions – VC Charges Cooperators

Published On:

August 12, 2021

The Vice-Chancellor, Prof Kolawole Salako has charged Cooperators who are members of Staff of the University to continue to work assiduously for the progress of the UNAAB Cooperative Society by diligently repaying their loans, in order not to deny others their benefits.

Speaking at the 33rd & 34th Annual General Meeting of the UNAAB Staff Cooperative Multipurpose Society Limited (UNAAB CMS), the Vice-Chancellor reminded members of the Society that the sole aim of establishing the body is to help members access loans meant to be repaid through monthly deductions of a certain percentage from their salaries until the full payment is achieved.

The Vice-Chancellor further urged members of the society not to hide under the Integrated Personnel Payroll Information System (IPPIS) deductions to default in loan repayment.

According to him, “If you destroy the system, remember the future of your children. People should continue to work hard for the success of the Society and pray for the system to succeed. Don’t think you are smart when you cheat”.

Meanwhile, the Cooperative President, Mr. Jonathan Fatokun in his Report lauded the Vice-Chancellor for his keen interest in the on-going Building project of the Cooperative Society since he turned the sod till date, adding that the Vice-Chancellor’s regular calls and visit to monitor the project has really encouraged the Executives in putting in their best to ensure the continuous development.

Giving an account of his Stewardship for 2020/2021 financial year, Mr Fatokun stated that efforts were made to operate the business of the Society with a sharp focus on the safety of the hard earned money invested by Cooperators, stressing that despite the present unfavorable economic situation of the country, efforts and planning were also put in place to increase the Society’s capital base.

According to him, “while we put a great deal of efforts and planning towards increasing our capital base, we were somehow limited by some external factors beyond our control. The challenges of economic environment of Nigeria in the years in review  were not favourable at all due to various public policies which posed a great deal of challenge in several areas of our efforts and planning”.

The Secretary, Mr. Daniel Odegbami had earlier read the Minutes of the 32nd Annual General Meeting eloquently and flawlessly to the admiration of the Cooperators.

Last Updated on August 12, 2021 by FUNAAB

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