₦airaland Forum

It was a moment of celebration, reflection, and renewed commitment to cooperative development as Ifenirepo Igbore Abeokuta Cooperative Multipurpose Society Limited (Reg. No. 112) held its 50th Annual General Meeting and 50th Anniversary Celebration on Thursday, March 26, 2026, at Union House, Leme, beside Edola Hotel, Abeokuta, Ogun State.

The event brought together members, cooperative leaders, government representatives, and well-wishers to commemorate the society’s remarkable journey since its establishment in 1976, while also reviewing its performance for the 2025 financial year.

At the heart of the celebration was the announcement of a strong financial performance, as the society recorded a net surplus of Forty-Five Million, Two Hundred and Nine Thousand, Five Hundred and Sixty-Five Naira (₦45,209,565) for the year under review, representing a significant increase from the ₦30 million posted in the previous year.

The Cooperative society President, Elder T. A. Adesegun also disclosed impressive financial indicators, including a total share capital of ₦170,701,204, ordinary savings of ₦80,777,596, and loans issued amounting to ₦290,877,279, underscoring its continued relevance as a dependable financial and social support structure for members.

The AGM doubled as a golden jubilee celebration, marking 50 years of uninterrupted existence and service to members and the larger cooperative movement in Ogun State. In his management reflections, the Elder Adesegun attributed the society’s longevity and stability to divine grace, disciplined administration, and sustained member cooperation.

The report noted that despite the challenges often faced by grassroots institutions, Ifenirepo Igbore has continued to thrive and has now become a reference point among cooperative societies in the state.

The atmosphere of gratitude was evident as the society appreciated God for preserving the lives of members and sustaining the organisation over the decades, especially through moments of internal and external challenges.

In appreciation of members’ loyalty and commitment, the President Elder Adesegun announced a number of anniversary packages and welfare benefits. Every member present received a ₦10,000 take-home gift, in addition to a special 50th anniversary garment and commemorative anniversary gift.

Importantly, Elder Adesegun clarified that these celebratory packages did not in any way affect members’ dividends, reinforcing the society’s strong financial footing and prudent management.

The event also featured the sharing of dividends, a key highlight that further demonstrated the society’s commitment to rewarding members for their investment and trust.

RICH LEGACY OF GROWTH AND ASSET DEVELOPMENT


The history of Ifenirepo Igbore Cooperative is deeply rooted in community development and visionary leadership. Founded on July 13, 1976, the society began with a few committed individuals, among whom Elder T. A. Adesegun, Elder Isaac I. Sowunmi, and J. A. Akinwunmi remain recognised as some of the surviving early pioneers.

The society obtained its official Certificate of Registration from the Ogun State Government on July 17, 1979, under Registration Number 112.

Over the years, Ifenirepo Igbore has built a formidable record of achievements. Among its landmark milestones are the acquisition of two plots of land from Egbejoda Union in 1982, the development of its building projects, and the eventual completion of significant housing structures.

The report highlighted that under different leadership eras, the society successfully developed two sets of four-flat residential buildings, one of its earliest major physical achievements.

Further evidence of prudent investment was seen in the society’s property acquisitions, which include:

- One acre of land at Obada-Oko axis
- Two plots of land at Fadage with eight lock-up shops
- A plot of land at Oke-Ata

These investments have not only strengthened the society’s asset base but also positioned it for long-term sustainability and wealth creation for members.

Beyond its own internal growth, Ifenirepo Igbore has also played a historic role in the expansion of the cooperative movement in Ogun State through the formation and incubation of other societies and unions.

Under the leadership of Elder T. A. Adesegun, the society was instrumental in the establishment of several cooperative societies, including Oluwalose, Igbein and Ifelere, Igbein, which later contributed to the formation of Ifeoluwapo Union, Isabo.

In addition, the leadership of Elder Adesegun facilitated the establishment of multiple societies across Kuto and surrounding communities, among them:

1. Ifedapo, Igbore
2. Ifedayo, Kuto
3. Ifeladun, Kuto
4. Ifesola, Kuto
5. Ifeyewa, Kuto
6. Ifetayo, Kuto
7. Ifetobi, Kuto
8. Ifesegun, Kuto
9. Ifetola, Kuto
10. Ifegbemi, Kuto

The growth of these societies eventually led to the creation of Iranlowo Oluwa Union, Leme, which became autonomous and joined the wider cooperative structure in Ogun State.

This long-standing contribution to cooperative institution-building has earned the society and its leadership considerable recognition across the state.

One of the strongest testaments to Ifenirepo Igbore’s consistency is its record of recognition by the Ogun State cooperative movement.

The society proudly announced that it has remained one of the Ten Best-performing Cooperative Societies in Ogun State every year from 2013 to 2025, receiving repeated commendations and awards from the cooperative apex body.

This sustained recognition reflects not only financial strength, but also good governance, accountability, and the ability to maintain members’ confidence over time.

As part of the AGM proceedings, the society also conducted the election of new executives, a process that reaffirmed its democratic and participatory governance culture.

The event was further enriched by goodwill messages from dignitaries and stakeholders within the cooperative movement, many of whom praised the society for its resilience, discipline, and outstanding contribution to grassroots economic empowerment.

The anniversary and AGM attracted an array of distinguished personalities from the cooperative and government sectors.

Among those present were the Director of Cooperative Services, Ogun State, Pastor Samuel Mustapha, FICP, who was represented by the Deputy Director of Cooperative Services, Mr. A. A. Ogunjimi. Also represented was the President of Ogun State Co-operative Federation Limited (OGSCOFED), Alhaji Wasiu Olaleye Tunde FICP, whose goodwill message was delivered by Mr. Olatunji Alaka.

Other notable dignitaries in attendance included Alhaji Akinwunmi Dauda (former Branch President Abeokuta Central Branch of OGSCOFED Ltd); Mr. S. K. Adeyanju ficp (President Ogun State Cooperative Central Financing Agency Limited);

and several respected leaders, stakeholders, and well-wishers from within and outside the cooperative community.

In all, the 50th AGM and 50th anniversary celebration of Ifenirepo Igbore Abeokuta Cooperative Multipurpose Society Limited was more than a ceremonial gathering — it was a strong statement about the enduring power of cooperation, disciplined leadership, and member-focused development.

#WeAreCoops #AGM2026 #coop #cooperatives

They must have ran the affairs of the cooperative union with discipline and dedication.


This cooperative society is most likely going to become a bank. They have a structure already.

decatalyst:
They must have ran the affairs of the cooperative union with discipline and dedication.


This cooperative society is most likely going to become a bank. They have a structure already.

You just took this outta my mouth bro.

Incredible performance by the society.