Mr Adewale Azeez Adegbite sets out as a hard-working barbar. His earnings were commensurate with his meager capital. Adegbite wouldn’t know that his business life can be better off.
Solomon James, a fellow barbar, who at the time serving as secretary under the chairmanship of Prince Ganiu Aderemi Fatoki of Ore-OluwaPo CTCS, Ibafo, Ogun State, had urged Adegbite to join Cooperative society.
Initially, Adegbite wouldn’t oblige due to his limited knowledge about what cooperative society stand for.
However, his turning point took place on 24th January 2012, nearly nine years after the usual monthly meeting.
“Solomon called me aside,he enumerated five benefits of cooperative societies, two of which were too good to be true.
He said, cooperative society these days are more of government supervision.
James furthered that cooperative officers under the Ministry of Cooperatives don’t take annual auditing of accounts with levity, adding that no cooperative society can foldup without prior knowledge of the ministry.
“At that point, my fear melted away”.
James mentioned five reasons cooperative society is a sure bet for my business uplift.
“Every cooperator is eligible to what we call Additional Loan. It’s a package in place of a backup should in case there is more demand or a kind of downsliding in the business, adding that, right from the second loan, members are entitled to three fold of their savings.
“Repayment modules are flexible; incomplete repayment is acceptable without insult or embarrassment.
“All members, during festive periods, are provided with consumable items at cheaper price regardless of the amount of loan already incurred.
“Annually, all members will receive varied amount of money from the profit made during the business year according to individual savings which is called ‘Dividends’.
The fifth benefit, according to James is that, “any members with good standing is eligible for financial assistance in the face of emergency; children school admission fee, hospital emergency bill, fund to buy auctioned items, etc”.
Adegbite, without further delay, registered, thereby became member of Opemiposi-Oluwa Cooperative Thrift and Credit Society in Ibafo, Obafemi Owode Local Government, Ogun State.
“Three weeks after”, Adegbite recounted, “I was assigned to be member of the Anniversary Committee. And during the AGM, I was elected as Taskforce II”.
Not quite long, due to his diligence, Adegbite was appointed to serve as ExcoI and Taskforce Officer at OpemiposiOluwa CTCS and OreOluwaPo CTCU respectfully. Today, he is the Exco II at the Union house.
Having been duly tutored in the art of running the affairs of cooperative society, in 2018, he introduced Cooperative savings to some of his friends in Ilaro.
In time, through his in-law, Mr Monday Adeleke and elder sister, Mrs Sadiat Adegbite, he founded Imole-Oluwa CTCS situated in Oke-Okuta, Ase-Oluwa in Oke-Ela, Oluwafikayomi in Dosumu, Oluwajomiloju in Sawmill, Irewunmi-Oluwa in Fadel, all in Ilaro, as well as Oluwarantimi in Oja-Odan, Oluwadabira in Owode-Yewa.
Adegbite, however encouraged Nigerians to imbibe the culture of savings as it’s been practice in cooperative Societies and Unions.
He also appreciated every one who have contributed morality, financially and emotionally to the successful celebration of his birthday; Prince Aderemi Fatoki, the President of OreOluwapo CTCU, the entire executive members including Mrs Oriyomi and Chief Akinola, executive and entire members of Ibafo, Cooperative Societies in Ilaro, Owode-Yewa, Oja-Odan and Igbogila as well as officials and members of Music Association of Nigeria (MAN).
The Chairman of expressed his appreciation to his wives; Mrs Shifau and Suliat Adegbite for their individual and collective support towards the success of his daily endeavors.
He as well congratulated his parents Mr Najeemdeen and Mrs Mariam Adegbite for witnessing his new age in sound health as he prayed Allah to grant them more years to eat the fruit of their labour.
“May Allah grant my parents many prosperous years so that they can enjoy more from us, their children”