VISION STATEMENT: To be the foremost cooperative society on provision of economic and welfare services to its members and non-members (clients) in Africa and beyond (global citizenry). MISSION STATEMENT: To build the cooperative society as an international family accommodative of all ideas of all members with harmonization according to international best practices in order to be economically and corporately successful in its services by strategically : a. Establishing the cooperative in all 36 states and Federal Capital Territory –Abuja of Nigeria in the first year of operation (2015) through partnership with relevant organizations especially Global Community Health Foundation and others with headquarters located in Delta State . b. To target registered membership(with membership fee per head of person of N2,000.00 or its currency equivalence (individual) or N50,000 (corporate) or its currency equivalence of fifty thousand (50,000) members in each of all the states/ FCT-Abuja of Nigeria and worldwide through inter-personal marketing and e-commerce marketing(social media, website, etc) in the first year of operation, then 200,000 members after first year, 800,000 members in two years, 3,200,000 members in three years with multiplier constancy of factor 4 for second, three…years. c. All registered members must meet set management membership recruit targets as periodically awarded by the State/National/International President or Vice-President at State/ National / International management committee levels d. Marketing/ Networking models shall be either as employed ad-hoc staff or paid volunteerism with paid commission of 50% ( i.e. N1,000.00 and N25,000.00 ) for each convinced and registered individual and corporate member respectively; commission paid with issuance of cheques only. e. Generating funds through our thrift /savings of at least five hundred million naira (N500,000,000.00) or equivalence in US $ or the currency of the country of operation within the first year of operation (2015) in each of the cooperative society and all our branches in the 36 states and Abuja of Nigeria through aggressive marketing using all possible media and strategies ( for example , engaging voluntary and employed paid ad-hoc staff as marketers). f. Establishing at least one Cashville Microfinance Bank(s) in all major cities/ recommended towns of all states and Abuja of Nigeria within two years of operation (2015-2016). g. Establishing at least one agro-based farm(s) (firms) in all major cities/ recommended towns of all states and Abuja of Nigeria within two years of operation (2015-2016). h. Establishing linkage(s) of health insurance services for all members within two years of operation (2015-2016)in the 36 states and Abuja of Nigeria. i. Diversifying into other enterprise like oil and gas, educational institutions/ services, etc within three years of operation (2015-2017) in the 36 states and Abuja of Nigeria. j. Establishing (a) nationa

1. CASHVILLE MULTI-PURPOSE
CO-OPERATIVE SOCIETY LIMITED
International Head Office: Palm Royal Plaza, No 124, Ovwian DSC
Express Way, Ovwian, Udu LGA, Delta State.
Branch Office(Alternate Head office) : No 1, Anosike street, (after St.
Thomas Anglican Diocesan Hospital), Akudo, Otolo, Nnewi North
LGA, Anambra State.
Branch Offices(Nigeria) : All 36 States plus the Federal Capital
Territory-Abuja
CONSTITUTION
PREAMBLE
We, the members of CASHVILLE MULTI-PURPOSE CO-OPERATIVE
SOCIETY 774 Local Government Areas/Districts(specific name for each Local
Government Area/ office address), of 36 States / Federal Capital Territory –Abuja
(specific name for each state), Nigeria (country of operation) do firmly and
solemnly resolve to provide for ourselves a constitution and to be governed by the
provisions therein contained.
SECTION 1: NAME, VISION , MISSION STATEMENTS AND MOTTO.
NAME:
The name of the Co-operative Society is ‘CASHVILLE MULTI-PURPOSE
CO-OPERATIVE SOCIETY LTD’.
VISION STATEMENT: To be the foremost cooperative society on provision of
economic and welfare services to its members and non-members (clients) in Africa
and beyond (global citizenry).
MISSION STATEMENT: To build the cooperative society as an international
family accommodative of all ideas of all members with harmonization according to
international best practices in order to be economically and corporately successful
in its services by strategically :
a. Establishing the cooperative in all 36 states and Federal Capital Territory –
Abuja of Nigeria in the first year of operation (2015) through partnership
with relevant organizations especially Global Community Health
Foundation and others with headquarters located in Delta State .
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2. b. To target registered membership(with membership fee per head of person of
N2,000.00 or its currency equivalence (individual) or N50,000 (corporate) or
its currency equivalence of fifty thousand (50,000) members in each of all
the states/ FCT-Abuja of Nigeria and worldwide through inter-personal
marketing and e-commerce marketing(social media, website, etc) in the first
year of operation, then 200,000 members after first year, 800,000 members
in two years, 3,200,000 members in three years with multiplier constancy of
factor 4 for second, three…years.
c. All registered members must meet set management membership recruit
targets as periodically awarded by the State/National/International President
or Vice-President at State/ National / International management committee
levels
d. Marketing/ Networking models shall be either as employed ad-hoc staff or
paid volunteerism with paid commission of 50% ( i.e. N1,000.00 and
N25,000.00 ) for each convinced and registered individual and corporate
member respectively; commission paid with issuance of cheques only.
e. Generating funds through our thrift /savings of at least five hundred million
naira (N500,000,000.00) or equivalence in US $ or the currency of the
country of operation within the first year of operation (2015) in each of the
cooperative society and all our branches in the 36 states and Abuja of
Nigeria through aggressive marketing using all possible media and strategies
( for example , engaging voluntary and employed paid ad-hoc staff as
marketers).
f. Establishing at least one Cashville Microfinance Bank(s) in all major cities/
recommended towns of all states and Abuja of Nigeria within two years of
operation (2015-2016).
g. Establishing at least one agro-based farm(s) (firms) in all major cities/
recommended towns of all states and Abuja of Nigeria within two years of
operation (2015-2016).
h. Establishing linkage(s) of health insurance services for all members within
two years of operation (2015-2016)in the 36 states and Abuja of Nigeria.
i. Diversifying into other enterprise like oil and gas, educational institutions/
services, etc within three years of operation (2015-2017) in the 36 states and
Abuja of Nigeria.
j. Establishing (a) national/ sub-national conference(s) that shall once annually
bring together all branches of the Cooperative in Nigeria for cross-
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3. fertilization on principles and practices of our Cooperative system as well as
a means to strengthen weaker branches and award achievers (2016 - ).
k. Establishing Cashville Nigeria Limited within first year of operation (2015)
to formally and corporately package all our financial activities to enable
international trajectory, with activities including financial consultancy,
investments in the international community, etc. The Cashville Consults
Nigeria Limited and Cashville Development Foundation shall invariably be
the parents of the Cashville Multipurpose Cooperative Society Ltd, among
other future incorporations derivable as we grow and develop (2015-).
l. All the above activities of the cooperative shall be conducted with the aim of
assisting the of government of all countries where we exist , and ultimately
contributing to the Gross Domestic Product (GDP) of that country(2015-).
MOTTO:
The Motto of the society is “work out your own prosperity” .
SECTION 2: ADDRESS
International Head Office: Palm Royal Plaza, No 124, Ovwian DSC
Express Way, Ovwian, Udu LGA, Delta State, Nigeria, West Africa.
SECTION 3: AIMS AND OBJECTIVES
The objects of the Co-operative society shall be:
a. To establish a cooperative society that will encourage members into self-
actualization and human development.
b. To establish agro-based businesses.
c. To establish educational (nursery, primary, secondary, tertiary or their
equivalence) businesses.
d. To establish oil and gas businesses.
e. To establish micro-finance banks businesses
f. To encourage thrift savings among the members and establish a fund from
which members can be given loans for productive purpose.
g. To build a financial network that will enhance and strengthen her individual
member’s wealth.
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4. h. To create a platform for alleviating the needs of our individual members.
i. To engage in any other legal economic enterprise that may tend to enhance
the economic well being of the members.
j. Member’s empowerment.
SECTION 4: QUALIFICATION FOR MEMBERSHIP
a. A member may be an individual or a corporate body( profit- or non-profit )
b. Members must be ready to work hard and not under the age of 18 years or
its equivalence according to the laws of that country who are ordinarily
resident in Nigeria or that country.
c. Members shall be admitted on applying in writing to the Committee,
subject to the approval of the general meeting.
d. A member shall exercise the full right of membership on payment of
membership fee of N2,000 (individual) or N 50,000 (corporate) or its
equivalence in US $ or other currency of that country and the minimum
share or installment thereof.
e. A member shall be identified by at least 1/3 of the foundation members.
f. Must never have been convicted of any offence involving dishonesty,
robbery, stealing etc.
g. A member shall be gainfully employed.
h. Members must sign the Register of Members in accordance with extant
Laws in force in Nigeria.
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5. i. Admission charges may include goodwill which may be reviewed from
time to time subject to the approval of the General meeting.
j. In addition, any person or corporate body admitted shall pay any approved
dues and levies set out for new members.
SECTION 5: WITHDRAWAL AND TERMINATION OF MEMBERSHIP
a. A member may resign from the society on giving six months notice to the
committee provided that no member may resign until:
i. After expiration of six (6) months notice.
ii. He has repaid all sums due to the society, or where he is standing
surety or the debt of another member, until the debt has been repaid.
b. Membership shall terminate if a member dies or is of unsound mind
(individual) or publicly declared bankrupt ( corporate body) .
c. Membership may be terminated if the member is guilty of any act or
conduct prejudicial to the interest of the Society and/or is convicted of any
offence involving dishonesty.
d. A member may lose his membership for consistent failure to make savings,
to repay loan in time, or fails to do any of the things required of a member
in this constitution.
e. This Co-operative may resolve by a simple majority vote of those present in
general meeting to remove any member who is guilty of any
unconstitutional act or any other bad behaviour that can negatively affect
the credibility of the Cooperative.
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6. f. At the termination of membership of any individual or corporate body for
any reason whatsoever the assets (including share capital, savings, etc) and
liabilities ( including debts) shall be transferred to the ex-member if he is
alive ( individual) or the corporate body bank account if not declared
publicly bankrupt after appropriate balancing of assets against liabilities or
next of kin if the ex-member is dead(individual) or charity organizations if
the corporate body is declared publicly bankrupt .
SECTION 6: THE LIABILITY OF MEMBERS
a. The termination of membership shall not affect such member’s liability to
co-operative society for any unpaid loan for which the member is a surety
or for any debt owed to or by the co-operative society as at the date of
termination.
b. Any member who withdraws his/her membership or is terminated for any
reason whatsoever must transfer his/her slot to a registered member of the
co-operative society or to the co-operative society as a body.
c. The new member must have a surety of at least one person among the old/
existing members.
d. Subject to the approval of the President, the Society shall have power to
claim liquidation damages on account of lose that might be sustained by the
Co-operative Society consequent upon the withdrawal of membership.
SECTION 7: SOURCES OF INCOME
The funds of the Co-operative society shall be derived from:
I. Entrance / admission fees II. Levies
III. Grants and Donations IV. Thrift
V. Investment Return VI. Share capital
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7. VII. Penalties
VIII. Loans from sources approved by the members.
IX. Any other legitimate source(s).
SECTION 8: SERVICES AND TYPES OF LOAN PRODUCTS
1. Savings (weekly, monthly, quarterly)
2. Investment loan ( any legitimate business, profit and non-profit)
3. Micro-, small and medium entrepreneurship (MSME)
4. Healthcare insurance (community and institutional variants)
5. Rural telephone loan
6. Dorcas project( widows and widowers)
7. Housing loan
8. Tourism / Holiday loan
9. Agriculture loan
10.Equipment/ Machinery loan
11.Fixed deposits
12. Special savings ( children educational school fees, tourism, etc)
13.Business plan Development/ writing
14. Business Management/ Economics (Local and International)
15.International business opportunities linkage
16.Social/psychological/ spiritual counseling
17. Career development and placement
18. Paid volunteerism ( volunteers self-paid on commission basis of 50% of the
membership fee of mobilized member(s) that finally get registered through
their effort)
19. Mentorship on any area of interest/life
20. Training of members to start their own cooperative society after two years
of their membership, in order to increase their economic base and provide
7

8. employment for other humans that were unreached by us, in their different
countries of residence. Training may be online enabled.
SECTION 9: DISBURSEMENT AND APPLICATION OF FUNDS
The fund of the Society shall be applied to the achievement of the society’s
aims and objectives.
SECTION 10: KEEPING OF ACCOUNT
1. The society shall maintain Account with any bank of its choice; and shall
keep three main Accounts namely:
i. Operational Account-
ii. Project/ Loan Account-
iii. Savings/ Reserve Funds Account-
2. Signatories to the account shall be the President, Vice-President, the
Secretary ,the Treasurer and Financial Secretary.
3. The President and Vice-president shall be the ‘A’ to the account , the
Secretary, the Treasurer and Financial Secretary shall be the ‘ B’ to the
account;
(a)The ‘A’ (President or the Vice-President if and only if the President gives
his/her consent to that signatory permit of the Vice-President through email
(printed out for official documentation and personal visit transmission to the
Operations /Branch Manager of any of the account banks of the Cooperative)
or short message service (sms) to the administration officer/ confidential
secretary in the office of that state/national/international management levels
for all countries ) and any of the two of “ C” can withdraw from the accounts.
8

9. (b) The consent from the President shall be filed for documentation accessible
to all management committee members and all members.
(c) Amount sum of N100,000 and below or its equivalence in US $ or
currency of that country of operation shall be transactionally withdrawable
from the operational account of the Cooperative with Vice-President of the
affected State/National/International management committee level with or
without the State/National/International President consent.
The Society shall ensure the accurate keeping of record of all income and
expenditure.
SECTION 11: SHARE CAPITAL
a. One share shall be valued at N1.00 or its equivalence in other currency of
that country and each member shall subscribe to as many shares as the
general meeting shall decide, from time to time provided that a member’s
share does not exceed one fifth (1/5) of the total share capital of the society
and subject also to a minimum of Twenty thousand (20,000) shares-
N20,000 or its equivalence in other currency of that country;
this provision is optional to ordinary members but compulsory for
management committee members.
b. Share may be paid up in full, or in not more than five installments
( individual member) or in not more than two installments ( corporate
body).
c. No member shall be entitled to withdraw his share unless his membership
is terminated, provided that no share may be withdrawn until the society
has paid any loan it received from outside source(s).
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10. d. A member who fails to pay his/ her installmental share capital on the due
date may be penalized not more than N500.00 or its equivalence in other
currency of that country for every month or part of the month the
installment is overdue.
SECTION 12: THRIFT SAVINGS
a. All payments shall be directly into the approved bank account of the
Society with evidence of teller brought to the appropriate officer for
recording and receipting.
b. Each member shall save at least N10, 000.00 (Ten thousand Naira only) per
month ( individual) or its equivalence in other currency of that country or
N100,000. 00 ( One hundred thousand naira only ) or its equivalence in
other currency of that country per month (corporate body) and shall pay
this sum (or such greater sum as may from time to time be decided by the
General Meeting) to the Treasurer through the financial Secretary at each
monthly meeting for credit to his savings account.
c. Saving shall only be withdrawable after twelve (12) calendar months with
interest according to the amount saved per member.
d. A member who fails to pay his/her monthly savings for three(3) consecutive
times shall be liable to a penalty of five hundred naira (500.00) or its
equivalence in US $ or other currency of that country for each month
( individual member) or N 1000 for each month ( corporate body) or its
equivalence in other currency of that country that the savings are overdue.
SECTION 13: SPECIAL SAVINGS
a. Special savings may include saving for festivities, personal housing
project(s), children educational fees, etc
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11. b. Members may engage in monthly savings of any amount and these may be
withdrawn on short notice.
c. The Co-operative Society shall not be liable to pay interest on special
savings but the committee may recommend interest at a rate not exceeding
10% per annum subject to the approval of the General Meeting.
SECTION 14: DEPOSIT
a. Members and non-members may make deposits of any amount, at any time
and these may be withdrawn as required provided that two weeks notice
may be required for withdrawal of large amounts (( that is, N50,000.00 and
above (individual) or its equivalence in other currency of that country or N
250,000.00 and above (corporate body) or its equivalence in other currency
of that country) .
b. The Co-operative Society shall not be under obligation to pay interest on
deposits but interest may be paid at a rate not exceeding 10% per annum.
c. The Co-operative Society may receive grants and donations without
restrictions.
SECTION 15: LOANS
1. All types of loans as above in section 8 (above) shall be available to the
general public( members and non-member)
2. Members loan shall attract interest rate of 10% per annum of the principal.
3. Non-members loan shall attract more than interest rate of 10% per annum of
the principal. This shall be negotiable.
SECTION 17: USE OF FUNDS
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12. a. The funds of the society shall be applied to the achievement of the
objectives of the society.
b. Funds not immediately required shall be treated as follows:
i. The treasurer of the society may retain in his custody a cash balance
not exceeding N20, 000.00 (Twenty Thousand Naira Only) or its
equivalence in other currency of that country.
ii. Any cash balance in excess of this amount shall be deposited in any
branch of the Co-operative Society’s Bank Account within 24hours of
such collection.
SECTION 18: TRUSTEES AND THEIR QUALIFICATIONS
(A) The trustees of the society shall be the President, Vice-President , Secretary,
and Treasurer .
(B)The Trustees of CASHVILLE MULTI-PURPOSE CO-OPERATIVE
SOCIETY LTD for the purpose of the extant Law regulating Co-operative society
shall be elected at a General Meeting by simple majority votes of members present;
Provided that no body shall be eligible to be elected as trustee except
i. He has at least 5% shares ( and not more than 20% ) of the total share
capital in the co-operative.
ii. He/ she must have a tangible means of livelihood ,that is, is a full time
businessman/ business woman or working class with net worth of at least
(N1,000,000.00) one million naira or its equivalence in the currency of that
country .
iii. Must be married.
iv. Must be a person of integrity.
v. Not be less than twenty five (25) years of age.
vi. Remain and retain his/her membership for not less than two (2) years.
12

13. (C) Such Trustees (Hereinafter referred to as, “The Trustees’’ or “ management
committee”) shall not be less than four and more than eight in number.
(D) A Trustee may hold office for Life but shall cease to hold
office if he:
a. Resigns his office
b. Ceases to be a member of the registered Trustees of the body.
c. Becomes insane
d. Is officially declared bankrupt
e. Is convicted of a criminal offence involving dishonesty by a Court of competent
jurisdiction
f. Is recommended for removal from office by Trustees majority vote of members
present at any General Meeting of the body.
g. Ceases to reside in Nigeria.
(D) Upon a vacancy occurring in the number of Trustees a General Meeting
will be held to appoint another eligible member of the Society.
SECTION 19: COMMON SEAL
(A) The Trustees shall have a Common seal.
(B) Such Common seal will be kept in the custody of the Secretary who shall
produce it when required for use by the Trustees.
(C) All documents to be executed by the Trustees shall be signed by the President
and Secretary sealed with the Common seal.
SECTION 20: MEETINGS
17.1. For effective administration of the Association there shall be the following
meetings:
1. Annual General meeting
2. General Monthly meeting
3. Trustees meeting
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14. 4. Management meeting
5. Emergency meeting
17.2. The quorum for the meetings shall respectively be:
1. Two third of the registered members (Annual General meeting)
2. Half of the Trustees (Trustees Monthly meeting)
3. Two third of the Management Committee (General Monthly meeting)
4. Four members of the Management Committee present (Emergency meeting)
SECTION 21: MANAGEMENT COMMITTEE AND THEIR
QUALIFICATION
The Governing body of the co-operative society shall be the management
committee elected by simple majority votes of members present in the General
meeting. This state level of management in each country shall be the lowest (third)
in terms of hierarchy of authourity in the management of the cooperative
worldwide.
A member shall qualify to be eligible for Committee if he/she satisfies these
conditions:
i. He/ she must have a tangible means of livelihood ,that is, is a full time
businessman/ business woman or working class with net worth of at least
(N1,000,000.00) one million naira or its equivalence in other currency of
that country .
ii. Must be married.
iii. Must be a person of integrity.
iv. Not be less than twenty five (25) years of age.
v. Must have been selected at each state( lowest level of management) of that
country by election (transparently)
A member of the committee shall cease to hold office if he/ she :
14

15. (a) Ceases to be a member of the Society;
(b)Becomes of unsound mind;
(c) Lends money on his own account;
(d) Become financially embarrassed;
(e) Becomes a paid servant of the Society;
(f) Acts in a manner prejudicial to the interest of the Society
Available offices are :
i. The President
ii. Vice President
iii. Secretary
iv. Assistant Secretary
v. Financial Secretary
vi. Treasurer
vii. P.R.O
viii. Provost
ix. Legal Adviser
SECTION 22: NATIONAL MANAGEMENT COMMITTEE AND THEIR
QUALIFICATION
The Governing body of the co-operative society shall be the management
committee elected by simple majority votes of members present in the General
meeting. This national level management of each country shall be the second
(middle) in terms of hierarchy of authourity in the management of the cooperative
worldwide.
A member shall qualify to be eligible for Committee if he/she satisfies these
conditions:
15

16. vi. He/ she must have a tangible means of livelihood ,that is, is a full time
businessman/ business woman or working class with net worth of at least
(N1,000,000.00) one million naira or its equivalence in other currency of
that country .
vii. Must be married.
viii. Must be a person of integrity.
ix. Not be less than twenty five (25) years of age.
x. Must be selected at each second level of management of all states of that
country.
A member of the committee shall cease to hold office if he/ she :
(g)Ceases to be a member of the Society;
(h)Becomes of unsound mind;
(i) Lends money on his own account;
(j) Become financially embarrassed;
(k) Becomes a paid servant of the Society;
(l) Acts in a manner prejudicial to the interest of the Society
Available offices are:
i. The President
ii. Vice President
iii. Secretary
iv. Assistant Secretary
v. Financial Secretary
vi. Treasurer
vii. P.R.O
x. Provost
xi. Legal Adviser
xii. Chairman and Secretary of Agriculture programme committee
16

17. xiii. Chairman and Secretary of Microfinance bank programme committee
xiv. Chairman and Secretary of Systems/ Standards/ Auditing programme
committee
xv. Chairman and Secretary of Planning/event/conference programme
committee
xvi. Chairman and Secretary of Infrastructural (offices /fixtures and
furniture) programme committee
xvii. Chairman and Secretary of Oil and Gas programme committee
xviii. Chairman and Secretary of Real estate/properties programme
committee
xix. Chairman and Secretary of Educational programme committee
xx. Chairman and Secretary of Business plan development/writing
programme committee
xxi. Chairman and Secretary of Business Management/Economics
programme committee
xxii. Chairman and Secretary of Loan programme committee
xxiii. Chairman and Secretary of Savings programme committee
xxiv. Chairman and Secretary of Special savings programme committee
xxv. Chairman and Secretary of Deposit programme committee
xxvi. Chairman and Secretary of National health insurance scheme /
programme committee
xxvii. Chairman and Secretary of Social/ Psychological/ spiritual
counseling programme committee
xxviii. Chairman and Secretary of International business opportunities
linkage programme committee
xxix. Chairman and Secretary of Career development and placement
programme committee
17

18. SECTION 23: INTERNATIONAL MANAGEMENT COMMITTEE AND
THEIR QUALIFICATION
The Governing body of the co-operative society shall be the management
committee elected by simple majority votes of members present in the General
meeting. This state level in each country shall be the highest (first) in terms of
hierarchy of authourity in the management of the cooperative worldwide.
A member shall qualify to be eligible for Committee if he/she satisfies these
conditions:
xi. He/ she must have a tangible means of livelihood ,that is, is a full time
businessman/ business woman or working class with net worth of at least
(N1,000,000.00) one million naira or its equivalence in other currency of
that country .
xii. Must be married.
xiii. Must be a person of integrity.
xiv. Not be less than twenty five (25) years of age.
xv. Must be elected at second level of management of all countries ( national
management committees ).
A member of the committee shall cease to hold office if he/ she :
(m) Ceases to be a member of the Society;
(n)Becomes of unsound mind;
(o)Lends money on his own account;
(p) Become financially embarrassed;
(q) Becomes a paid servant of the Society;
(r) Acts in a manner prejudicial to the interest of the Society
Available offices are:
18

19. i. The President
ii. Vice President
iii. Secretary
iv. Assistant Secretary
v. Financial Secretary
vi. Treasurer
vii. P.R.O
xxx. Provost
xxxi. Legal Adviser
xxxii. Chairman and Secretary of Agriculture programme committee
xxxiii. Chairman and Secretary of Microfinance bank programme
committee
xxxiv.Chairman and Secretary of Systems/ Standards/ Auditing programme
committee
xxxv. Chairman and Secretary of Planning/event/conference programme
committee
xxxvi.Chairman and Secretary of Infrastructural (offices /fixtures and
furniture) programme committee
xxxvii. Chairman and Secretary of Oil and Gas programme committee
xxxviii. Chairman and Secretary of Real estate/properties programme
committee
xxxix.Chairman and Secretary of Educational programme committee
xl. Chairman and Secretary of Business plan development/writing
programme committee
xli. Chairman and Secretary of Business Management/Economics
programme committee
xlii. Chairman and Secretary of Loan programme committee
xliii. Chairman and Secretary of Savings programme committee
19

20. xliv. Chairman and Secretary of Special savings programme committee
xlv. Chairman and Secretary of Deposit programme committee
xlvi. Chairman and Secretary of National health insurance scheme /
programme committee
xlvii. Chairman and Secretary of Social/ Psychological/ spiritual
counseling programme committee
xlviii. Chairman and Secretary of International business opportunities
linkage programme committee
xlix. Chairman and Secretary of Career development and placement
programme committee
SECTION 24: POWERS AND DUTIES OF GENERAL MEETING AND
THE MANAGEMENT COMMITTEE ( STATE/ THIRD,
NATIONAL/SECOND AND INTERNATIONAL/FIRST LEVELS).
a. Every member present must sign the attendance register at every Annual
General meeting.
b. The Monthly General Meeting shall be held once in every month in
accordance with extant co-operative law.
c. The Monthly General Meeting shall in addition:
i. Confirm the admission and termination of members.
ii. Make rule when necessary for the smooth operations of the co-
operative society’s business.
iii. Approve the investment of the co-operative society’s funds in fixed
assets.
iv. Increase the minimum shares and/or thrift savings.
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21. v. Approve the rate of interest on loans and deposits.
vi. Approve the salaries of staff.
vii. Determine appeals from members and staff.
viii. Determine the hours of business of the co-operative society.
d. The Management Committee shall consist of:
i. Available offices are:
i. The President
ii. Vice President
iii. Secretary
iv. Assistant Secretary
v. Financial Secretary
vi. Treasurer
vii. P.R.O
viii. Provost
ix. Legal Adviser
x. Chairman and Secretary of Agriculture programme committee
xi. Chairman and Secretary of Microfinance bank programme committee
xii. Chairman and Secretary of Systems/ Standards/ Auditing programme
committee
xiii. Chairman and Secretary of Planning/event/conference programme
committee
xiv. Chairman and Secretary of Infrastructural (offices /fixtures and
furniture) programme committee
xv. Chairman and Secretary of Oil and Gas programme committee
xvi. Chairman and Secretary of Real estate/properties programme
committee
21

22. xvii. Chairman and Secretary of Educational programme committee
xviii. Chairman and Secretary of Business plan development/writing
programme committee
xix. Chairman and Secretary of Business Management/Economics
programme committee
xx. Chairman and Secretary of Loan programme committee
xxi. Chairman and Secretary of Savings programme committee
xxii. Chairman and Secretary of Special savings programme committee
xxiii. Chairman and Secretary of Deposit programme committee
xxiv. Chairman and Secretary of National health insurance scheme /
programme committee
xxv. Chairman and Secretary of Social/ Psychological/ spiritual
counseling programme committee
xxvi. Chairman and Secretary of International business opportunities
linkage programme committee
xxvii. Chairman and Secretary of Career development and placement
programme committee
All these Management Committee(s) members shall be elected at the Co-
operative Society’s Annual General Meeting or in the event if a vacancy
occurred during the year, at any Monthly General Meeting;
Provided that the office of the international President which shall be
reserved for the Founder of the Cooperative Society is not elective. This is
derivable from the fact that the international President/ Founder serves as
the link to other branches of the Cooperative. However, the Founder may
voluntarily vacate his office as the international President after ten years of
leadership of the Cooperative in the hope that a proper succession plan shall
be put in place to make the post of the international President elective. The
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23. post of the international President shall be open for election to all /any
ethnic group/ tribe in Nigeria.
The first international President, who is the Founder, shall be Dr. Henry
Akpojbaro Efegbere ( a native of Owhase and Ovwian towns, Udu Local
Government Area, Delta State, Nigeria, West Africa)
e. The management Committee shall be governed by extant law regulating co-
operative society and shall stay in office for two (2) years. Any vacancy
filled during the year shall be terminated along with the members of the
management Committee. No member shall remain in the same office for
more than two terms.
f. No member shall be eligible for election or remain a member of any
management Committee if he/she:
i. Resigns from office in writing.
ii. Ceases to be member of the Co-operative society.
iii. Becomes insane.
iv. Is convicted of any offence involving dishonesty.
SECTION 25: DUTIES OF THE MANAGEMENT COMMITTEE(S)
MEMBERS.
A. THE PRESIDENT
i. The (International/ National/ State )President shall be the principal officer
of the Co-operative and shall be responsible for ensuring that the Law,
Rules Bye-Law are observed by other officers and members and all the
decisions and directions of the Governing Body/ General meeting are given
effect to.
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24. ii. Shall preside at general meetings and Management Committee Meetings
and shall ensure that meetings are summoned as prescribed in Rules and
Bye-Laws.
B. VICE PRESIDENT (INTERNATIONAL/ NATIONAL/ STATE)
i. Shall carry out all functions of the President in the absence of the President;
provided it is with the consent of the President.
ii. Any duty assigned to him by the President.
C. THE SECRETARY(INTERNATIONAL/ NATIONAL/ STATE)
i. Shall have custody of all the society’s book of records.
ii. Shall attend the entire general and Committee Meetings and shall carry out
all the instructions of the Committee.
iii. Shall record the whole of the proceedings of the Co-operatives Meeting.
iv. Shall conduct correspondences on behalf of the Co-operative Society.
v. Shall have custody of the society’s seal.
D. ASSISTANT SECRETARY(INTERNATIONAL/ NATIONAL/ STATE)
i. Shall carry out all the functions of the secretary in the absence of the
secretary.
ii. Shall carry out any other functions as may be assigned to him by the
management committee.
E. FINANCIAL SECRETARY(INTERNATIONAL/ NATIONAL/
STATE)
i. The financial secretary shall be responsible for all financial records of the
Co-operative and shall work in close contact with the treasurer, collecting
all dues, levies, fines, e.t.c.
ii. Shall hand over all the money collected by him on behalf of the Society to
the treasurer within twenty four (24) hours.
iii. Shall present all the documents related to the Co-operative Society’s
business for auditing.
iv. Shall counter-sign all vouchers with the President / Vice President.
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25. v. Shall present a half yearly report of the financial transactions of the society
to the Committee and the general meeting.
vi. Shall report any number or group who fails, neglect or deliberately refuses
to pay his/her dues or contributions to the Committee or the General
meeting.
vi. Shall be a signatory to the society’s Bank account.
F. TREASURER(INTERNATIONAL/ NATIONAL/ STATE)
i. The treasurer shall be responsible for safe custody of the cash and other
banking document.
ii. Shall receive all money, dues or payable to the society.
iii. Shall receive from the financial secretary, money collected on behalf of the
society.
iv. May retain in his custody any cash balance not exceeding Twenty thousand
(N20, 000.00) naira or its equivalence in the currency of that country.
v. Shall keep a record of all moneys received by him and all monies paid by
him.
vi. Shall produce at all times, when called upon, by the Committee Auditors,
the Director or any person authorized by him, all moneys and the relevant
documents in his possession belonging to the society.
vii. Shall be a signatory to the society’s Bank Account.
viii. Shall account for the imprest account monthly.
G. PUBLIC RELATIONS OFFICER (INTERNATIONAL/ NATIONAL/
STATE)
i. Shall publicize the activities of the society adequately through approved
media.
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26. H. PROVOST/ WHIP(INTERNATIONAL/ NATIONAL/ STATE)
i. Shall be responsible for maintaining discipline during all the society, meeting,
and functions.
ii. Shall collect fine from latecomer, noise makers, and other defaulters and pay
same to the financial secretary.
I. LEGAL ADVISER(INTERNATIONAL/ NATIONAL/ STATE)
i. Shall be responsible for all Legal related issues.
CHAIRMAN AND SECRETARY OF ALL PROGRAMMES ( X
-XXVII)
1. These shall be as directed by the International President of the
Cooperative Society.
SECTION 26: PENALTY
I. Any member that fails to contribute his money in the meeting will pay a
penalty of N100 or its equivalence in other currency of that country on the
expected money and if after one week, he will be paying a penalty of N50
or its equivalence in other currency of that country daily on the money until
it is paid.
II. Absenteeism without permission attracts a penalty of N100 or its
equivalence in other currency of that country.
III. Lateness to meetings attracts a penalty of N50 or its equivalence in other
currency of that country and this starts 15 minutes after the scheduled time.
IV. Our meeting day is last Saturday of every month and the time is between
4:00pm and 6:00pm.
SECTION 27: BANKING
I. The society will maintain at least three (3) accounts with any Banks of its
choice.
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27. II. Signatories to the account are the President, Vice President, Secretary,
Financial Secretary and the Treasurer provided that the President and any
other two (2) out of the five (5) signatories can withdraw from the account
subject to section 9 of this constitution.
SECTION 28: DISPOSAL OF ANNUAL SURPLUS.
a. The Annual Net Surplus of the Society shall be determined after charging
all the expenses of the Society to the income and expenditure account and
after providing for interest at a rate not exceeding 1%. See section 34 of
Decree 90 of 1993.
b. 25% of the net surplus shall be allocated to reserve fund.
c. A part of the net profit may be used to pay honouraria to the members of
the management committee.
d. The state/province branch(es) of the cooperative in all countries of the
world shall remit 10% to the national management committee of their
country and 5% to the international management committee of their annual
surplus which shall be used for running the national and international
office(s) globally.
e. The national management committee(s) of different countries shall remit
3% of their annual surpluses to the international management committee for
running of their office.
f. All remittance of annual surpluses shall be in US $ or equivalent currency
in that country
g. Any balance of the net surplus may be used for the welfare of the members.
See section 34 and Rule 12 of Decree No. 90 of 1993.
SECTION 29: APPOINTMENT OF AUDITOR(S) (INTERNATIONAL/
NATIONAL/ STATE)
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28. 1. Internal Auditor(s) shall be appointed by the general meeting to audit the
financial records of the society annually and submit an audited report to the Annual
General Meeting of the Association.
2. The audited financial statements (balance sheet and income and expenditure
account) duly certified by internal auditor(s) shall be annexed to the annual returns.
SECTION 30: AMENDMENT OF CONSTITUTION
This Co-operative Society may alter the provision of this Constitution at a General
meeting by a resolution passed by a simple majority of its members and approved
by the management committee.
Dated this ___________ day of March, 2015
_____________________ __________________________
Signature of President Signature of Secretary & Date
_____________________ __________________________
Name of President & Tel. No. Name of Secretary & Tel. No.
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