NAMA Cooperative Society embarks on automation, to raise capital base to N1bn

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The Newly elected president of the Nigerian Airspace Management Agency, NAMA Cooperative and Multi-Purpose Societies, Adelowo Gabriel Arowolo says the cooperatives will pursue vigorously the full automation of its activities.

This is just as he vowed to grow its capital base to N1bn during his tenure. 

Arolowo said the capital base of the cooperating was below N200m when they took over from the administration before the last but was able to grow it to over half a billion naira.

Arolowo who disclosed this to reporters after his election, noted that the cooperative had been operating manual transaction of its businesses, including manual ledger records.

He disclosed that, with the automation being achieved, balance of every members and updated accounts would be transmitted to them online without coming to the secretariat.

Arolowo said codes would be provided for members to access the financial accounts details online, adding that with over 700 members which was achieved with the effort of the immediate past president, the cooperative would strive to get up to about 2000 members into its fold.

According to him, the current executive would work assiduously to raise the capital base to above N1 bn to ensure that members get more loans.

Adelowo Gabriel Arowolo, President NAMA Cooperative and Multi-Purpose Society

Arowolo, who was the Secretary in the last Executive, noted that the cooperative had given car loans to members and would continue with the good program on ground such as project loan.

In the area of remittance of their members contributions, he said, they were working with the NAMA management to get the balance of their remittances due to the Covid.

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