Commited to Improving the Lifes of Our Members

The Nigerian Breweries Plc Senior Staff Cooperative Multipuspose Society was established in August 2008.

Cooperative is defined by the International Co-operative Alliance's as an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise. A cooperative may also be defined as a business owned and controlled equally by the people who use its services or who work at it.

COOPERATIVE OBJECTIVES

• • To encourage savings and capital formation among members.
• • To grant credit facilities at reasonable interest rates to members.
• • To acquire land for sale or development as an Estate to meet the housing needs of members or for industrial purpose or for sale to the public.
• • To invest fund in shares and other ventures beneficial to its members as approved by officials of the cooperative.
• • To engage in any other economic or social activity as may be approved by the Cooperative.
• • To seek loans from banks and other financial institutions for the welfare of its members.
• • To do anything within the Law or the By-Law, which in the opinion of the Cooperative is necessary for the well-being of its members.

ORGANISATIONAL STRUCTURE

• • The Lagos State Government Cooperative Office law demands that the cooperative operate as an autonomuos entity, separate from NB Plc & FOBTOB.
• • The Surulere cooperative office Supervises the operation of the cooperative.

EXCOS

• • Emmanuel Oladejo.
• • Joy Ojakovo.
• • Patrick Olowokere.
• • Tola Otuneye.
• • Patrick Chukwumba.
• • Ann Ojiako.
• • Eghosa Orobator.
• • Ekpen Atabhujie

OPERATING DETAILS - MEMBERSHIP

• • Must be a management staff of NB Plc.
• • Prior membership of the Senior staff Union FOBTOB is mandatory.
• • A registration/mandate form to be completed, authorising monthly deduction from payroll.
• • A Membership registration fee of N1,000 to be paid on submission of the completed registration form.

OPERATING DETAILS - COOPERATIVE FUND

• • Accumulated from members monthly contribution of >/= 10,000 per month.
• • Will be primarily used for loan to members at a rate of 10% p/a.
• • Loan tenor: maximum of 2 years.
• • To qualify new members must contribute for a minimum of 6 months.
• • Maximum loan amount is 2x members contribution.
• • Loans issued are to be guaranteed by a loan indemnity agreement signed at the point of accessing a loan.
• • Any member whose membership has terminated or who has withdrawn his membership, shall be paid the sum contributed so far and the interests thereon

TERMINATION/WITHDRAWAL OF MEMBERSHIP

Membership of the Cooperative shall be terminated by;

• • Death of member.
• • Permanent insanity.
• • Expulsion
• • Membership Resignation.

TRANSFER OF MEMBER’S INTEREST

• • Every member shall in writing nominate a person(s) to whom his interest in the Cooperative shall be transferred in the event of his death or permanent insanity.