The Ministry of Defence Agricultural Cooperative Society (MODACS), has assured members of its Cooperative Society, that the Ministry would built a robust Agricultural Cooperative Society with a global best practice.
Dr. Edache Adigwu, the president of the of the cooperative society, stated this while briefing newsmen on Friday ahead of the Cooperatives Forth Coming Annual General meeting (AGM) in Abuja.
Adigwu said he would run an all inclusive government, digitalization of MODACS activities, membership drive, increased dividend and good working relationship with other members.
According to him, an agricultural based cooperative group would embark on capacity building of members in Agro-business field and also promote small/medium scale businesses through seminars, workshops and conferences.
“The Cooperative operates as a collectively free loan process that only requires one to have and tender a verifiable integrated personal payroll and information system (IPPIS) number.
“The IPPIS number gives unhindered access to one’s salary from where deduction of any loan granted is made based on terms and conditions of the loan agreement.
“In a situation the borrower is not under IPPIS platform, an IPPIS compliant number will be required to undertake the loan needed.
“This condition also applies to retirees who still maintain or service their Financial membership of the cooperative through periodic cash deposits into MODACS accounts.
“Members and non members of MODACS have always leveraged these stress free loam processes in meeting their needs,” he said.
However, he, added that the cooperative would assist members in establishing their own farms and other businesses through the support of government agencies and the private sector.
He admonished people to take advantage of the cooperative facilities with a low interest rate of 5 percent, promising that the cooperative would give priority to retirees.
“The objective of MODACS is to promote the socio-economic interest of members in accordance with the cooperative’s principles.
“To embarked on capacity building of members in the agricultural fields and small/medium scale business through seminars, workshops and conferences.
“To assist members take practical steps in establishing their own farms and businesses through the support of relevant government agencies.
“To promote the economic interest of their members in the area of agriculture, particular to encourage and assist members take advantage of government policies on agriculture,” Adigwu said. (NAN)
