Edo: Cooperative societies urged to show greater transparency, efficiency

Cooperative societies and groups in Edo State have been advised to show greater commitment to transparency and efficiency in the conduct of their business.The state governor, Adams Oshiomhole gave the advice during the celebration of the 2012 co-operative day and international cooperative year in Benin City, the state capital.Oshiomhole, represented by the state Attorney General and Commissioner for Justice, Osagie Obayuwana, spoke of government's desire to support co-operative societies in the state with a view to stimulating the economy.The governor said the key element in the co-operative movement was cooperation as opposed to exploitation, observing that a situation where farmers who toiled daily to produce food were at the mercy of buyers, was lamentable.Oshiomhole called on farmers to organise themselves into functional cooperative societies to receive government support for the enhancement of their growth.Also speaking, the Edo State Commissioner for Commerce and Industry, Donald Osikhena-Boih, reiterated the Oshiomhole administration's determination to create a conducive environment for the rapid growth of private businesses and to partner with the private sector for the economic development of the state.He said it was in realisation of the potentials of co-operative movement that the state government promoted the growth of small scale business enterprises in the state through the disbursement of one billion naira as credit facilities at six per cent interest rate to farmers' co-operativeS.Osikhena-Boih assured that application for loans would be treated with objectivity and equity by the ministry and that approved loans would be speedily disbursed.Besides, the commissioner appealed to eventual beneficiaries of the loans to use them only for the purpose they were meant and to ensure repayment of the loans as at when due in order not to betray the confidence of government in co-operative societies
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