Our cooperative society was inaugurated over a year ago, but we have not yet received our license due to policy guidelines. The members are finding it challenging to make contributions into a personal account. They are a group of intellectuals. We visited the state cooperative society representative office, where we were given a form to present to the bank to open an account for our cooperative. Unfortunately, the bank refused to open the account and requested either a CAC registration certificate or a form from the local government.

Questions:

Does a cooperative society need to register with the CAC apart from obtaining a license?
What are the benefits of registering with the CAC, and what is the process if required?"
Would you like any further refinements to this statement?

No need with CAC but with ministry of commerce and Industry

[quote author=mycolleague post=131235057]Our cooperative society was inaugurated over a year ago, but we have not yet received our license due to policy guidelines. The members are finding it challenging to make contributions into a personal account. They are a group of intellectuals. We visited the state cooperative society representative office, where we were given a form to present to the bank to open an account for our cooperative. Unfortunately, the bank refused to open the account and requested either a CAC registration certificate or a form from the local government.

Questions:

Does a cooperative society need to register with the CAC apart from obtaining a license?

Good day, Cooperative Society has nothing to do with CAC for Registration. It's the State Ministry of Community Development and Cooperatives, Department of Cooperative Services that were in charge of the registration, and must be through the Zonal Officer of the Location where the Society located

If you are in Ogun State, and willing to Form or Register a Cooperative Society or a Union. We can guide from the point of forming a fresh one to the point of registration, to the point approval would be given to conduct an Annual General Meeting where Member's Credit, popularly known as dividend would be share among the Members.

If you have form one, and looking for an Expert who can help to prepare your Book of account from MAB to Trial Balance before supervision by the Auditor. We can also help to do that. Just send us a mail via ibromexico@gmail.com