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STOPPAGE OF MULTIPLE COOPERATIVE SOCIETIES IN THE UNIVERSITY

STOPPAGE OF MULTIPLE COOPERATIVE SOCIETIES IN THE UNIVERSITY

The University Management at its meeting held on Wednesday, 5th December, 2018, considered a paper from the Lagos State Ministry of Commerce, Industry and Cooperatives on membership of multiple Cooperatives by members of staff.

Management NOTED the position of the Lagos State Ministry of Commerce, Industry and Cooperatives that some members of staff of the Institution belong to more than two [2] Cooperative Societies and this is in Contravention of the content of the Bye-Law guiding the operation of Cooperatives in Lagos State.

 

The University Management also RECALLED that it had DECIDED at its meeting of Thursday 6th September, 2018 that with effect from January, 2019, no staff member should belong to more than two [2] Cooperative Societies in the University.

Management after due deliberations RE-AFFIRMED its decision of Thursday, 6th September, 2018, that effective January, 2019, no member of staff should belong to more than two [2] Cooperative Societies in the University.

 

In order to foster harmonious industrial relationship among members of staff, Management further DECIDED that:

  • Henceforth, members of staff intending to join any Cooperative Society in the University must indicate their interest/commitment in writing to the Bursar before deduction to the Cooperative Society of Choice can commence;
  • Any member of staff that wishes to opt out from a Cooperative Society is free to do so but he/she must NOT be financially indebted to the Society.

In case of indebtedness, if the SAVINGS balance of such a member is enough to liquidate his/her debt, he/she should be obliged.