By Lesley Muosowo Otu
The 8th Annual General Meeting (AGM), of the Ministry of Defense Agricultural Cooperative Societies (MODACS), held on Saturday with stakeholders hailing the management for impressive performance during its financial year that ended 31st December, 2019.
Held in Abuja, the stakeholders also unanimously approved the proposed dividend of N1.77, following recent release of the Cooperative audited financial results for the year.
The President of the Cooperative, Dr. Edache Adikwu said the AGM was an opportunity for the Cooperative to engage shareholders on its 2019 financial year performance.
“MODACS is committed to consistently deliver superior returns to our highly esteemed Cooperators by ensuring that a good chunk of our profit is set aside for MODACS retirees.
“Infact, our administration became focused and determined towards expanding MODACS membership scope with its consequent increasing monthly in-flow and stronger MODACS assets/liability Base”, Edache said.
He encouraged members who wish to go into farming to freely do so, as the cooperative will always assist them with necessary facilities.
“We want to encourage our members to go into agricultural farming. It could be fish, poultry and so many others.
“We have to think outside the box. This is just a way of complimenting and also contribute to the Federal Government Agricultural policy”, says Mr. Edache.