Newest 2 byelaws of cashville multi purpose cooperative society limited

CASHVILLE MULTI-PURPOSE
CO-OPERATIVE SOCIETY LIMITED
International Head Office (Administration): No 20, Calabar Street, Area 7, Garki,
Federal Capital Territory-Abuja, Nigeria.
International Head Office (Operations): Palm Royal Plaza, No 124, Ovwian DSC
Express Way, Ovwian, Udu LGA, Delta State, Nigeria.
Branch Office(Alternate Head office) : No 1, Anosike street, (after St. Thomas Anglican
Diocesan Hospital), Akudo, Otolo, Nnewi North LGA, Anambra State,Nigeria.
Branch Offices(Nigeria) : All 36 States plus the Federal Capital Territory-Abuja
Foreign Offices: London (UK), New York (USA), India, etc
BYELAWS
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 (or other countries of operation) do firmly and solemnly resolve to provide for
ourselves byelaws 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 .
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
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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- 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 Limited, Cashville
Development Foundation, The Brethren Centre International Ministry , Cashville
Multipurpose Cooperative Society International Ltd, among other future
incorporations derivable, as we grow and develop (2015-) shall inter-dependently play
their roles and duties as the laws of the lands of Nigeria and other nations demand,
globally. All of the later firms, including their future derivable shall be christened the
conglomerate name, CASHVILLE GROUP OF COMPANIES AND PARTNERS,
WORLDWIDE.
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” .
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SECTION 2: ADDRESSES
International Head Office (Administration): No 20, Calabar Street, Area 7, Garki, Federal
Capital Territory-Abuja, Nigeria.
International Head Office(Operations): 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.
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 AND MEMBERSHIP
TRANSFER FROM ONE STATE / COUNTRY TO ANOTHER STATE/COUNTRY
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 .
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. Must never have been convicted of any offence involving dishonesty, robbery,
stealing etc.
f. A member shall be gainfully employed.
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g. Members must sign the Register of Members in accordance with extant Laws in
force in Nigeria.
h. Membership fee payment may include goodwill which may be reviewed from time to
time subject to the approval of the General meeting.
i. Membership of a duly registered entity(individual /corporate) is transferable form
one state to another state of a country or from one country to another country only on
the conditions of: after a formal application of request has been made by the bearer
or a proxy (through a letter of authourization, bearing the signatory/endorsement of
the original registered member) and same application having approval of the
International President or its proxies (with a letter of authourization transmitted to
the highest constitutional officer of that State or country and the same authourization
letter replied in writing to the international president(for documentation and
notification at all levels of the four management committees including the
state/country the transferring member is leaving to where s/he is now residing) as
soon as possible if that request of membership transfer was effected accordingly,
whether the transferring member is indebted to that Society at that level of
management committee )
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.
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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.
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
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 (daily, weekly, monthly, quarterly)
2. Investment loan ( any legitimate business, profit and non-profit)
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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 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,
Treasurer and Financial Secretary shall be the ‘ B’ to the account;
(a)The ‘A’ (only the 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 to the
administration officer/ confidential secretary in the office of that
state/national/international management levels for all countries (printed out for official
documentation and with the same staff ( email receiver) personal visit transmission to
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the Operations /Branch Manager of any of the bank account of the Cooperative) or short
message service (sms) or calls to validate the email print out as authentic for bank
transactions (otherwise ,its fraud) and any of the two of “ C” can withdraw from the
accounts.
(b) The consent from the President shall be filed for documentation accessible to all
members including management committee members.
.
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).
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.
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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
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
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.
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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 eighteen (18) years of age.
vi. Remain and retain his/her membership for not less than three (3 ) months.
(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:
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1. Annual General meeting
2. General Monthly meeting
3. Trustees meeting
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 shall consists of
the State, (geo-political) Zonal, National and International Management Committees.
SECTION 22 : STATE MANAGEMENT COMMITTEE AND THEIR
QUALIFICATION
The state level of management in each country shall be the lowest (fourth) 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/
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 eighteen (18) 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 :
(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
(g) Is recommended for removal by the President on account of any or some of the above
cited reasons(a-f) without putting same removal action into vote of majority as same
officer(nominee without letter /appointee by letter) was promoted from the ranks and
files of the ordinary membership (if that was the case, with an already existing branch
of the cooperative, which by our byelaws definition, that branch has been in existence
for at least one month ) or nominated/appointed when that branch is just starting in
less than month . Those subject for removal shall include: The Vice-President,
Secretary, Treasurer, Assistant Secretary, Financial Secretary, Legal Adviser and
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Public Relations Officer, Provost and any other and all nominated /appointed officers
of the Cooperative at any time as and when necessary.
(h) In event that the President is deemed to in his/her discharge of duties to be careless or
carefree the trustees and management committees of all /any level shall report same to
the Director of Cooperative for that State(Nigeria /Internationally) for appropriate
advise/intervention to get the Cooperative President to get rid of ,if need be, any
acrimony/misunderstanding.
(i) Without the permission of Director of Cooperative for that State(Nigeria
/Internationally) on any perceived misunderstanding of issues in the Cooperative
,reporting same to the Judiciary Courts shall be a null and void step, therefore not
honourable by the Cooperative, at any cost, provided the byelaws are followed in
discharge of duties and responsibilities.
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 22.2
Notwithstanding the state branch physical address of all states worldwide and above listed
nine offices ( that is, i-ix) the State management level shall be at liberty, with approval (hard
copies registration and entry into the databank, otherwise is fraudulent ) from the National
and International management levels, have as many as possible points of service (POS) ,for
purpose of administrative convenience of members and non-members transactions, in all
Local Government Areas of that same state.
SECTION 22.3
The liaison officer(s) at all points of service in all states shall be registered members of the
Society. This may be volunteer(s) or administrative officer(s).
Volunteers are paid on commission with 50% (for example, N1,000 for individual or
N50,000 for corporate firm in Nigeria) of the registered membership fee.
Paid ( not free) volunteers shall be a part of the marketing department of the Society.
All paid volunteers shall have a standard sign post/board as identification symbol of the
Society. The volunteer, having satisfied the pre-requisite for volunteerism (marketing)
including contractual agreements of paying for standard /approved sign post(s) ( the sign
posts become necessary if the volunteer have more than one point of service in that state) and
counting from the date of approval as same, shall be a given a period of one (1) month
duration to pay , collect and mount his/her sign post(s).
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Administrative staff(s) may be ad-hoc staff paid with conditions of service to be determined
by Annual General Meeting with approval of the Trustees at the International/National/State.
Volunteers, Administrative officers and Management Committee members with international
best practice track records shall be rewarded with prizes for their efforts at the Society’s
Annual National/International Conference(s).
SECTION 22.4
The marketing department shall contractually engage professional(s) (artists) to design /print
sign posts for all offices including point of service of the Society.
The international level trustees or management committee level at their Annual General
Meeting shall agree and transmit the proto-type sign post to all states worldwide, trusting
each state shall abide to their regulating agencies requirements for sign posting.
Challenges resulting from sign posting shall be relayed to the different levels of management
for the international level to take a consultative decision(s).
SECTION 22.5
Every state management level shall grow and develop (including membership increment)
according to the extant laws regulating units of formation of the Society , from Primary
( where the registered Society through /at the Local Government Area/ State Ministry of
Commerce and Cooperative has written or typed the name of a village/town/city representing
the physical address of the Society in that Local Government Area).
The Society shall register their name with the Ministry of Commerce at different
village/town/city in order to achieve Secondary or Union status of registration of the Society.
The Society shall proceed to achieve Apex status of registration by registering all their
branches of the Secondary /Union status.
To achieve a status in Nigeria as National, nay globally as International, Society all the Apex
branches of all states shall be verified and registered if authentic to the credit of the Society.
The National status of the Society is being processed for permission by the Federal
Department of Cooperative (of Nigeria) to the International status registration.
SECTION 22.6
Only Vice-President(s) of any(all) state(s) worldwide that have strategically grown their
Primary to the Apex status of the Society shall be entitled to promotion to become the
President of the Society in their State.
Such a President may be on secondment to other state(s) in sharing their success story
model(s) to strengthen weaker branches of the Society.
Presidents with international best practice track records shall be rewarded with prizes for
their efforts at the Society’s Annual National/International Conference(s).
SECTION 22.7
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Trustees approval of all activities at lower levels of management shall be transmitted to the
Trustees at national ,and then international level for approval/documentation.
SECTION 23: (GEO-POLITICAL) ZONAL MANAGEMENT COMMITTEE AND
THEIR QUALIFICATION
The zonal level of management in each country shall be the second lowest (third) in terms of
hierarchy of authourity in the management of the cooperative worldwide.
k. He/ she must have a tangible means of livelihood ,that is, is a full time businessman/
l. Must be married.
m. Must be a person of integrity.
n. Not be less than eighteen (18) years of age.
o. Must have been selected at each state( lowest level of management) of that country by
election (transparently)
(j) Ceases to be a member of the Society;
(k) Becomes of unsound mind;
(l) Lends money on his own account;
(m) Become financially embarrassed;
(n) Becomes a paid servant of the Society;
(o) Acts in a manner prejudicial to the interest of the Society
(p) Is recommended for removal by the President on account of any or some of the above
(q) In event that the President is deemed to in his/her discharge of duties to be careless or
(r) Without the permission of Director of Cooperative for that State(Nigeria
Available offices are :
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i. The President
ii. Vice President
iii. Secretary
vi. Treasurer
vii. P.R.O
x. Provost
xi. Legal Adviser
SECTION 24: NATIONAL MANAGEMENT COMMITTEE AND THEIR
QUALIFICATION
The second management committee of the co-operative society shall be the management
committee elected by simple majority votes of members present in the Annual 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.
p. He/ she must have a tangible means of livelihood ,that is, is a full time businessman/
q. Must be married.
r. Must be a person of integrity.
s. Not be less than eighteen (18) years of age.
t. Must be selected at each second level of management of all states of that country.
(s) Ceases to be a member of the Society;
(t) Becomes of unsound mind;
(u) Lends money on his own account;
(v) Become financially embarrassed;
(w) Becomes a paid servant of the Society;
(x) Acts in a manner prejudicial to the interest of the Society.
(y) Is recommended for removal by the President on account of any or some of the above
(z) In event that the President is deemed to in his/her discharge of duties to be careless or
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(aa) Without the permission of Director of Cooperative for that State(Nigeria
Available offices are:
i. The President
ii. Vice President
iii. Secretary
vi. Treasurer
vii. P.R.O
xii. Provost
xiii. Legal Adviser
xiv. Chairman and Secretary of Agriculture programme committee
xv. Chairman and Secretary of Microfinance bank programme committee
xvi. Chairman and Secretary of Systems/ Standards/ Auditing programme
committee
xvii. Chairman and Secretary of Planning/event/conference programme committee
xviii. Chairman and Secretary of Infrastructural (offices /fixtures and furniture)
programme committee
xix. Chairman and Secretary of Oil and Gas programme committee
xx. Chairman and Secretary of Real estate/properties programme committee
xxi. Chairman and Secretary of Educational programme committee
xxii. Chairman and Secretary of Business plan development/writing programme
committee
xxiii. Chairman and Secretary of Business Management/Economics programme
committee
xxiv. Chairman and Secretary of Loan programme committee
xxv. Chairman and Secretary of Savings programme committee
xxvi. Chairman and Secretary of Special savings programme committee
xxvii. Chairman and Secretary of Deposit programme committee
xxviii. Chairman and Secretary of National health insurance scheme / programme
committee
xxix. Chairman and Secretary of Social/ Psychological/ spiritual counseling
programme committee
xxx. Chairman and Secretary of International business opportunities linkage
programme committee
xxxi. Chairman and Secretary of Career development and placement programme
committee
SECTION 24.2
15

Administrative officers and Management Committee members with international best
practice track records shall be rewarded with prizes for their efforts at the Society’s Annual
National/International Conference(s).
SECTION 24.3
Only Vice-President(s) of any(all) country(ies) worldwide that have strategically grown their
Primary to the Apex status of the Society shall be entitled to promotion to become the
President of the Society in their State.
Such a President may be on secondment to other nations in sharing their success story
model(s) to strengthen weaker branches of the Society.
Presidents with international best practice track records shall be rewarded with prizes for
their efforts at the Society’s Annual National/International Conference(s).
SECTION 25: INTERNATIONAL MANAGEMENT COMMITTEE AND THEIR
QUALIFICATION
The highest management committee of the co-operative society shall be the management
committee elected by simple majority votes of members present in the Annual General
meeting.
u. He/ she must have a tangible means of livelihood ,that is, is a full time businessman/
v. Must be married.
w. Must be a person of integrity.
x. Not be less than eighteen (18) years of age.
y. Must be elected at second level of management of all countries ( national
management committees ).
i. Ceases to be a member of the Society;
ii. Becomes of unsound mind;
iii. Lends money on his own account;
iv. Become financially embarrassed;
v. Becomes a paid servant of the Society;
vi. Acts in a manner prejudicial to the interest of the Society.
vii. Is recommended for removal by the President on account of any or some of the
above cited reasons(a-f) without putting same removal action into vote of
majority as same officer(nominee without letter /appointee by letter) was
promoted from the ranks and files of the ordinary membership (if that was the
case, with an already existing branch of the cooperative, which by our byelaws
definition, that branch has been in existence for at least one month ) or
nominated/appointed when that branch is just starting in less than month . Those
16

subject for removal shall include: The Vice-President, Secretary, Treasurer,
Assistant Secretary, Financial Secretary, Legal Adviser and Public Relations
Officer, Provost and any other and all nominated /appointed officers of the
Cooperative at any time as and when necessary.
viii. In event that the President is deemed to in his/her discharge of duties to be
careless or carefree the trustees and management committees of all /any level shall
report same to the Director of Cooperative for that State(Nigeria /Internationally)
for appropriate advise/intervention to get the Cooperative President to get rid of ,if
need be, any acrimony/misunderstanding.
ix. Without the permission of Director of Cooperative for that State(Nigeria
/Internationally) on any perceived misunderstanding of issues in the
Cooperative ,reporting same to the Judiciary Courts shall be a null and void step,
therefore not honourable by the Cooperative, at any cost, provided the byelaws are
followed in discharge of duties and responsibilities.
Available offices are:
i. The President
ii. Vice President
iii. Secretary
vi. Treasurer
vii. P.R.O
xxxii. Provost
xxxiii. Legal Adviser
xxxiv. Chairman and Secretary of Agriculture programme committee
xxxv. Chairman and Secretary of Microfinance bank programme committee
xxxvi. Chairman and Secretary of Systems/ Standards/ Auditing programme
committee
xxxvii. Chairman and Secretary of Planning/event/conference programme committee
xxxviii. Chairman and Secretary of Infrastructural (offices /fixtures and
furniture) programme committee
xxxix. Chairman and Secretary of Oil and Gas programme committee
xl. Chairman and Secretary of Real estate/properties programme committee
xli. Chairman and Secretary of Educational programme committee
xlii. Chairman and Secretary of Business plan development/writing programme
committee
xliii. Chairman and Secretary of Business Management/Economics programme
committee
xliv. Chairman and Secretary of Loan programme committee
xlv. Chairman and Secretary of Savings programme committee
xlvi. Chairman and Secretary of Special savings programme committee
xlvii. Chairman and Secretary of Deposit programme committee
xlviii. Chairman and Secretary of National health insurance scheme / programme
committee
17

xlix. Chairman and Secretary of Social/ Psychological/ spiritual counseling
programme committee
l. Chairman and Secretary of International business opportunities linkage
programme committee
li. Chairman and Secretary of Career development and placement programme
committee
SECTION 25.2
Administrative officers and Management Committee members with international best
practice track records shall be rewarded with prizes for their efforts at the Society’s Annual
National/International Conference(s).
SECTION 25.3
Only any of the Vice-President(s) that have strategically grown their Primary to the Apex
status of the Society in their country shall be entitled to promotion to become the
International President.
International President with international best practice track records shall be rewarded with
prizes for their efforts at the Society’s Annual National/International Conference(s).
In the event of a promotion of a Vice-President to the post of International President then the
election process shall be to adopt the candidate, among other qualified candidates , from
different countries, as the proper candidate to have been elected as the International
President.
Any litigation to this pre-requisite shall be punishable by out right dis-
membership/termination of membership of such candidate/member for the Society.
SECTION 26: 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.
18

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.
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
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
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
19

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/ First President of the Cooperative Society is not elective. This is derivable from the
fact that the first and international President/ Founder serves as the link to other branches of
the Cooperative. However, the first President 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 post of the international President shall be open for election to all /any ethnic
group/ tribe in and outside Nigeria . International best practices shall be the procedures
guiding this election including transparency and monitoring by appropriate electioneering
agencies (local/ international).
In the event of falsification of result of election process into the office of the State/ National/
International President(s) the Nigeria Police, EFCC and ICPC and the Industrial Court shall
wade into the matter with the status quo maintained, until the final decision by the Court.
However, in the event that the decision of the Industrial Court is not satisfactory to the simple
majority of the State/National/International management committee(s) the Board of Trustees
at each State/National/International level(s) shall meet with the (Industrial) Court principals
to negotiate for acceptable solution, and that shall be the final and must be acceptable
position to/of the Society worldwide.
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.
20

iv. Is convicted of any offence involving dishonesty.
SECTION 27: POWERS AND DUTIES OF PATRONS AND PATRONNESS
(ADVISORY COMMITEE)
A member shall qualify to be eligible for Advisory 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 and humble.
iv. Must be disposed to mentor members of the Society.
v. Not be less than eighteen (50) years of age.
vi. Have proven track records by international best practice standards.
vii. S/he shall not be entitled to monetary payment for their service except as
honoraria as may be decided by the Board of Trustees at the International
level.
viii. Must be recommended at any level of management of all countries.
x. Ceases to be a member of the ( and Advisory Committee) Society;
xi. Becomes of unsound mind;
xii. Lends money on his own account;
xiii. Become financially embarrassed;
xiv. Becomes a paid servant of the Society;
xv. Acts in a manner prejudicial to the interest of the Society
SECTION 28: 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.
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.
21

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.
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)
22

i. Shall publicize the activities of the society adequately through approved media.
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 28: 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 29: BANKING
I. The society will maintain at least three (3) accounts with any Banks of its choice.
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 30: 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 zonal and 10% to the national management committees of their
country and 5% to the international management committee of their annual surplus
which shall be used for running the zonal , national and international office(s)
globally.
e. The zonal as well as the national management committee(s) of different countries
shall remit 3% of their annual surpluses respectively to the international management
committee for running of their office.
23

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 31: APPOINTMENT OF AUDITOR(S) (INTERNATIONAL/ NATIONAL/
STATE)
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 32: 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/ of the different levels of
management committees and finally approved by the international management committee.
Dated this ___________ day of August 1, 2015
ξ
____________________ __________________________
Signature of President Signature of Secretary & Date
Dr. Henry Akpojubaro Efegbere Dr. Juliana Odogu
_____________________ __________________________
Name of President & Tel. No. Name of Secretary & Tel. No.
Mobile: 08035984104 Mobile: 08063306086
24
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Newest 2 byelaws of cashville multi purpose cooperative society limited

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