DELSU Workers’ Multi-Purpose Cooperative Society Holds 38th AGM

By Daniel Dafe

The 38th (2024) Annual General Meeting (AGM) of the Delta State University Workers’ Multi-Purpose Cooperative Society Limited, Abraka, (DELSU WMPCS), held on Wednesday, 9th April, 2025, at the Cooperative Multi-Purpose Hall, Site III DELSU, Abraka.

The event was chaired by the Vice Chancellor of the institution, Professor Samuel Asagba.

Asagba, who was represented by the Deputy Vice Chancellor (Administration), Prof. (Mrs.) Rosemary Okoh, said the gathering reflects the strength and unity that defines the body, saying that the cooperative has made much impact on the lives of members.

He added: “Each year has brought its own set of challenges and triumphs and through it all, the collective spirits of members of the cooperative have not only endured, but it has flourished, noting that the cooperative was not just for financial benefits but the strength required in lifting other and to build a bright future for families, just as he declared the event open.

President of the Cooperative, Mr. Jonathan Akuaghare, while delivering Cooperators during his welcome address, reflected on the past year, stating they have made significant progress and that the cooperative has continued to grow and thrive.

Speaking further, he said: “Our membership has increased significantly to 2, 573 members as against the 2,152 of 2023,” adding that this growth “is a testament to the visible progress they have made.”

He described the May 27, 2024 election that brought him into office as a resounding endorsement from members, while promising not to disappoint members.

The president, continued: “The AGM provides us with a platform to discuss progress, address our challenges and make informed decisions about the future of the cooperative.”

Meanwhile, he assured members that the Guest House project has not been abandoned.

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In his words, “due to current financial constraints, we have slowed down the pace of work,” assuring that they would resume work on the project as soon as the financial situation improves.

Furthermore, he hinted that the Cooperative’s net profit increased marginally from N149, 508, 228.00 (One hundred and forty-one million, six hundred and sixty-two thousand two hundred and fifty naira) in 2023 to N151, 662, 250.00 (One hundred and fifty-one million, six hundred and sixty-two thousand  two hundred and fifty naira) in 2024.

According to him the increase would have been greater if not for the reduction in business transactions, huge investment in the Guest House project and additional expenses such as the settlement of disputed portions of the cooperative land and the election that was conducted.

He also debunked rumours that loans were given to only friends of the new administration.

His words; “Ideally we would like to provide immediate attention to every application, whether for loans, withdrawals from deposits, or refunds. There is no element of witch-hunting when it comes to approval of loans. It is not also a situation of attending to friends.”

Akuaghare also noted that with the adjustment in workers’ salaries and the new minimum wage, the borrowing capacity of members has increased.

“While this is a positive development, it has also led to a surge in loan applications for larger amounts, without corresponding increases in monthly subscriptions,” he said.

Delivering the report of the Management Committee, Secretary of the body, Idigun Nana, said the greatest challenge they faced was the delay in the release of check-off dues, but said the administration of Professor Asagba has tackled it.

In his remarks, the Director of Cooperatives in Delta State, Prince Oghoro Okotie Joseph, urged the Cooperators to continue in unity.

He prayed for God’s blessings and protection on every worker.

Other dignitaries that graced the occasion include the Provost, Oleh campus, Professor Elo Ibaghare; University Librarian, Dr. (Mrs.) J.E. Onohwakpor; Bursar, Mrs. Otimeyin Ekakitie-Omojuwa, represented by the Deputy Bursar (Accounts), Mr. Joel Ojigbo-Ijatomi and Assistant Director of Cooperative Societies, Ethiope East Local Government Area, Mr. Idogho Johnson.