Our Story

About us

THE EMERGENCE OF INEC COOPERATIVE SOCIETY

The Society known at inception as INEC Staff Cooperative, Investment and Credit Society was formed in February, 2005 through the idea and practical steps taken by some few members of staff of INEC Edo State and those on inter-state transfer to the State inside the Operations’ office of the State Headquarters, Benin City to meet the welfare needs of staff.

The following are the visionary and life changing personalities [majority of them have served well and have retired from the service of the Commission].

  • Mr. Friday Iweka, the pioneer President of the Societ
  • Mr. A. U. Umoru
  • Late Mr. Austin Agho
  • Mr. Kayode Olawale
  • Mr. Felix T. Daramola
  • Mr. J. O. Omotiloye the only pioneer member who is still in service.

God used them to set up the Cooperative against all odds of a bitter experience of a failed Welfare Scheme earlier put together for staff in the State.

ABOUT US -Formation

The registration of the Society was done on 3rd of March, 2005 by the Edo State Ministry of Business, Trade and Cooperative with Certificate No. 6212 and its subsequent change of name to INEC Edo Staff Multi-Purpose Cooperative Society in line with the regulations. Edo State Government also revalidated all Cooperative Societies in the State between February and August 2019.

MISSION STATEMENT

The Mission of the Society is to become a veritable tool in the Cooperative Federation through which the needs of her members will be actualized.

OUR CORE DUTIES

  • Our aim is to promote mutual cooperation among members, fostering a sense of community and shared responsibility.
  • To encourage co-operative investment in order to improve on the social, economic and living standards of members.
  • Providing Credit: We offer loans to members at reasonable lower interest rates than commercial banks, helping members to meet pressing personal needs and investments.
  • Promoting member welfare, providing financial assistance by investing in real estate encouraging savings. Fostering economic and social development through procuring land to enhance ownership of property.
  • Facilitating the purchase of goods in bulk and sale them to members at reasonable prices, including household equipment reducing the cost of living.
  • Procuring and Distributing commodities: We procure and distribute essential commodities and household products at reasonable prices to members, preventing exploitation by large corporations and middlemen.
  • Encouraging Saving and Investment: We encourage members to regularly contribute saving for seasonal and festivals. These includes, Christmas and lleya savings.
  • We offer welfare services to members, including money to meet urgent medical care bill and support during emergencies.
  • Reinvesting in equity, Government Treasury bill and Shares.
  • Invest its funds in Commercial, Ventures, Hospitality and Recreation Services: We offer services both to members and public at our Guest House, Cement depot and the Bar Centre attached.
  • To encourage members to plan for their retirement through participation in a contribution Pension saving Scheme.

Recent projects by our society

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