NasPoly : Coperative members, exco before EFCC, over financial palava.

From Francis Nansak,Lafia

Investigation has uncovered an ongoing rift between the exco and members of the Nasarawa state polytechnic cooperative society,leading to a petition that is currently before the Economic Financial Crime Commission (EFCC)

Report had it that some members of the cooperative,are alleging that the cooperative leaders,under the president Moses led executive has apart from refusing to offset se members who had resigned their membership of the polytechnic cooperative,the leadership of the cooperative has mismanaged funds totaling up #67 million .

The genesis of the financial palava as gathered was stimulated by the withdrawal of the Academic staff members of the polytechnic from the general cooperative ,who had already formed theirs.

Dissatisfied with the position of the president of the cooperative ,Mr Moses Danjuma and his exco members, 28 aggrieved members of the cooperative petition the EFCC,over the matter, seeking that the Moses Danjuma led EXCO pay them their hard earned contributions in the cooperative.

This has however generated reaction and counter reaction from the current executive of the NasPoly multipurpose cooperative society.

The president of the cooperative,Mr Moses Danjuma,who is also the deputy registerar,establishment , junior staff matters,revealed that the cooperative,since 2016,2017,2019 and 2019 had recorded massive withdrawal of some members.

He said while some academic staff members,left to from their cooperative ,another group also under the umbrella of SACO left and founded theirs.

” And by our bye laws,when the cooperative was going on well,if you want to withdraw as a member of the cooperative,the law allowed that after a three months notification letter for withdrawal,such a person should be paid his or her entitlement.

” But unfortunately and in view of these massive withdrawal by some of the members,their deductions have also stopped and already,we had made some disbursement of loans ,which are all hanging to be deducted monthly,this made the cooperative financially incapacitated,as the financial muscles to completely offset the entitlements of those that had withdrawn became. where we have the challenges.

” Upon these ,we had liase with the ministry of commerce ,trade and investment,who are our supervisory ministry,through series of meetings, following the meetings ,it was agreed that we should pay them based on first application,which is a first come first serve bases” Moses narated.

He further explained that where the buck of the monies belonging to the cooperative are all hanging is on he disbursed loans,which according to him,there are Three categories of the loans that includes, Regular, Housing and Items loans,stressing that the deductions are done monthly for regular,while the housing loan take a period of 15 years.

However,in a document made available to our correspondent, containing the NasPoly multipurpose cooperative society notes on the accounts for 2018 and 2019,shows that the cooperative,has Three banks balance, totalling #6,696,438.3 in 2018 while in 2019 #2004,513,69,but the total cash at hand after the loans and advances only #14,980 was in the cooperative account for 2019 and no Kobo was found in 2018.

The document provided that in 2018 #121,809,610.30 was used for outstanding regular loan, outstanding NasPoly debt, emergency loan,land deduction,housing loan, outstanding items deduction and processing of R of O.

And for same outstandings the cooperative used #145,360,854.45, with current assets of 4main quarters along Shendam road, a land in kurikyo,wakes and another property on Alkali street all in Lafia.

But one among the 28 aggrieved persons that petition EFCC over the alleged refusal to pay some withdrawn members of the cooperative,Mr Bamaiyi Anangba,he said against the aim of forming the cooperative in 2004,the current president of the cooperative,Mr Moses Danjuma and his EXCO has refused to heed at their grievance.

Anangba ,who conquered with the president on the withdrawal of some of the members of the cooperative,however differ on ground that before the withdrawal of the members,they had approached the president of the cooperative to addressing some of the issues leading to the resignation of members from the cooperative,but that the Moses led EXCO refuses to listen.

He said it was at that premise that senior lecturers who contributed #50,000 and above left the cooperative and form their own and that instead of paying them their entitlements,the president went on to suspend them ,because they have formed their own cooperative.

“So we wonder why suspending people who are the ones with huge investment in the cooperative,since they have not indicated that they will stop their contribution to the cooperative?This suspension also included the former rector of the polytechnic,Mr Ali Gabo was served with the suspension letter,which angered members.

” So the impact of the cooperative was no longer felt again,if you apply for a little loan of #20.000 they will give you #5000 and not immediately but after a long time,still,we called on the president for a solution but he assured us that the cooperative was still very sound.

” This again led to some people pulling out of the cooperative in 2016,2017,2018 and upto 2019 and they all met the three months mandatory notice ,but their monies were not given to them and no reason to explained why” Anangba added.

He said it was at that level that some members approached a court,but he said the court ruled in favour of the cooperative against the wishes of those whose monies were hanging.” At this point we went to the ministry of commerce and met the commissioner for his fatherly advised.

” Still it took almost two months ,but the ministry could not do anything and we took the decision,not that somebody has stolen from the cooperative,but our approach was to ensure that members who had withdrawn from the cooperative are paid their entitlement,since they had met the three months notice as provided by the cooperative act.

” So they had to approached the EFCC and as I speak to you the case is before the EFCC in Makurdi ” He said.