 Staff Multipurpose Cooperative Societies have expressed deep){kind=link}
Retirees of the Nigerian National Petroleum Company Limited (NNPCL) Staff Multipurpose Cooperative Societies have expressed deep frustration over their continued inability to access their savings and dividends, despite faithfully contributing every month for several years.
They are now calling for a thorough forensic audit of the cooperative society’s accounts to uncover the true state of the finances.
Speaking at a press conference held in Abuja on Friday, Elder Ante O. Ante, representing the disgruntled members, pointed fingers specifically at the Lagos branch of the cooperative society. He accused its leadership of poor management, lack of transparency, and possible misappropriation of funds.
Ante clarified that their grievances were solely directed at the Lagos branch’s management. He stressed the urgency of appointing independent auditors to carry out forensic audits covering the society’s financial activities over the years.
“We want a forensic audit so that we can ascertain the true and fair value of the Lagos society,” he said. “Only when we know the actual value will we be able to move forward.”
The press conference was convened after years of members being denied their rightful benefits. “We have not received the benefits owed to us as cooperative members for a long time,” Ante lamented, underscoring the growing dissatisfaction within the membership.
He also recalled the cooperative society’s original purpose: to provide emergency financial assistance and support to its members. Unfortunately, he explained, that noble objective has been undermined by alleged selfishness, internal disputes, and financial irresponsibility among the society’s executives, eroding trust and harming the cooperative’s effectiveness.