CASHVILLE MULTI-PURPOSE CO-OPERATIVE SOCIETY LIMITED International Head Office (Administration): No 20, Calabar Street, Area 7, Garki, Federal Capital Territory-Abuja, Nigeria. International Head Office (Operations): Palm Royal Plaza, No 124, Ovwian DSC Express Way, Ovwian, Udu LGA, Delta State, Nigeria. Branch Office(Alternate Head office) : No 1, Anosike street, (after St. Thomas Anglican Diocesan Hospital), Akudo, Otolo, Nnewi North LGA, Anambra State,Nigeria. Branch Offices(Nigeria) : All 36 States plus the Federal Capital Territory-Abuja Foreign Offices: London (UK), New York (USA), India, etc BYELAWS PREAMBLE We, the members of CASHVILLE MULTI-PURPOSE CO-OPERATIVE SOCIETY 774 Local Government Areas/Districts(specific name for each Local Government Area/ office address), of 36 States / Federal Capital Territory –Abuja (specific name for each state), Nigeria (or other countries of operation) do firmly and solemnly resolve to provide for ourselves byelaws and to be governed by the provisions therein contained. SECTION 1: NAME, VISION, MISSION STATEMENTS AND MOTTO. NAME: The name of the Co-operative Society is ‘CASHVILLE MULTI- PURPOSE CO-OPERATIVE SOCIETY LTD’. 1
Transcript
1. CASHVILLE MULTI-PURPOSE CO-OPERATIVE SOCIETY LIMITED
International Head Office (Administration): No 20, Calabar Street,
Area 7, Garki, Federal Capital Territory-Abuja, Nigeria.
International Head Office (Operations): Palm Royal Plaza, No 124,
Ovwian DSC Express Way, Ovwian, Udu LGA, Delta State, Nigeria.
Branch Office(Alternate Head office) : No 1, Anosike street, (after
St. Thomas Anglican Diocesan Hospital), Akudo, Otolo, Nnewi North
LGA, Anambra State,Nigeria. Branch Offices(Nigeria) : All 36 States
plus the Federal Capital Territory-Abuja Foreign Offices: London
(UK), New York (USA), India, etc BYELAWS PREAMBLE We, the members
of CASHVILLE MULTI-PURPOSE CO-OPERATIVE SOCIETY 774 Local
Government Areas/Districts(specific name for each Local Government
Area/ office address), of 36 States / Federal Capital Territory
Abuja (specific name for each state), Nigeria (or other countries
of operation) do firmly and solemnly resolve to provide for
ourselves byelaws and to be governed by the provisions therein
contained. SECTION 1: NAME, VISION, MISSION STATEMENTS AND MOTTO.
NAME: The name of the Co-operative Society is CASHVILLE
MULTI-PURPOSE CO-OPERATIVE SOCIETY LTD. VISION STATEMENT: To be the
foremost cooperative society on provision of economic and welfare
services to its members and non-members (clients) in Africa and
beyond (global citizenry). MISSION STATEMENT: To build the
cooperative society as an international family accommodative of all
ideas of all members with harmonization according to international
best practices in order to be economically and corporately
successful in its services by strategically : a. Establishing the
cooperative in all 36 states and Federal Capital Territory Abuja of
Nigeria in the first year of operation (2015) through partnership
with relevant organizations especially Global Community Health
Foundation and others with headquarters located in Delta State . b.
To target registered membership(with membership fee per head of
person of N2,000.00 or its currency equivalence (individual) or
N50,000 (corporate) or its currency equivalence of fifty thousand
(50,000) members in each of all the states/ FCT-Abuja of Nigeria
and worldwide through inter-personal marketing and e- commerce
marketing(social media, website, etc) in the first year of
operation, then 1
2. 200,000 members after first year, 800,000 members in two
years, 3,200,000 members in three years with multiplier constancy
of factor 4 for second, threeyears. c. All registered members must
meet set management membership recruit targets as periodically
awarded by the State/National/International President or
Vice-President at State/ National / International management
committee levels d. Marketing/ Networking models shall be either as
employed ad-hoc staff or paid volunteerism with paid commission of
50% ( i.e. N1,000.00 and N25,000.00 ) for each convinced and
registered individual and corporate member respectively; commission
paid with issuance of cheques only. e. Generating funds through our
thrift /savings of at least five hundred million naira
(N500,000,000.00) or equivalence in US $ or the currency of the
country of operation within the first year of operation (2015) in
each of the cooperative society and all our branches in the 36
states and Abuja of Nigeria through aggressive marketing using all
possible media and strategies ( for example , engaging voluntary
and employed paid ad-hoc staff as marketers). f. Establishing at
least one Cashville Microfinance Bank(s) in all major cities/
recommended towns of all states and Abuja of Nigeria within two
years of operation (2015-2016). g. Establishing at least one
agro-based farm(s) (firms) in all major cities/ recommended towns
of all states and Abuja of Nigeria within two years of operation
(2015-2016). h. Establishing linkage(s) of health insurance
services for all members within two years of operation
(2015-2016)in the 36 states and Abuja of Nigeria. i. Diversifying
into other enterprise like oil and gas, educational institutions/
services, etc within three years of operation (2015-2017) in the 36
states and Abuja of Nigeria. j. Establishing (a) national/
sub-national conference(s) that shall once annually bring together
all branches of the Cooperative in Nigeria for cross- fertilization
on principles and practices of our Cooperative system as well as a
means to strengthen weaker branches and award achievers (2016 - ).
k. Establishing Cashville Nigeria Limited within first year of
operation (2015) to formally and corporately package all our
financial activities to enable international trajectory, with
activities including financial consultancy, investments in the
international community, etc. The Cashville Consults Limited,
Cashville Development Foundation, The Brethren Centre International
Ministry , Cashville Multipurpose Cooperative Society International
Ltd, among other future incorporations derivable, as we grow and
develop (2015-) shall inter-dependently play their roles and duties
as the laws of the lands of Nigeria and other nations demand,
globally. All of the later firms, including their future derivable
shall be christened the conglomerate name, CASHVILLE GROUP OF
COMPANIES AND PARTNERS, WORLDWIDE. l. All the above activities of
the cooperative shall be conducted with the aim of assisting the of
government of all countries where we exist , and ultimately
contributing to the Gross Domestic Product (GDP) of that
country(2015-). MOTTO: The Motto of the society is work out your
own prosperity . 2
3. SECTION 2: ADDRESSES International Head Office
(Administration): No 20, Calabar Street, Area 7, Garki, Federal
Capital Territory-Abuja, Nigeria. International Head
Office(Operations): Palm Royal Plaza, No 124, Ovwian DSC Express
Way, Ovwian, Udu LGA, Delta State, Nigeria, West Africa. SECTION 3:
AIMS AND OBJECTIVES The objects of the Co-operative society shall
be: a. To establish a cooperative society that will encourage
members into self- actualization and human development. b. To
establish agro-based businesses. c. To establish educational
(nursery, primary, secondary, tertiary or their equivalence)
businesses. d. To establish oil and gas businesses. e. To establish
micro-finance banks businesses f. To encourage thrift savings among
the members and establish a fund from which members can be given
loans for productive purpose. g. To build a financial network that
will enhance and strengthen her individual members wealth. h. To
create a platform for alleviating the needs of our individual
members. i. To engage in any other legal economic enterprise that
may tend to enhance the economic well being of the members. j.
Members empowerment. SECTION 4: QUALIFICATION FOR MEMBERSHIP a. A
member may be an individual or a corporate body( profit- or
non-profit ) b. Members must be ready to work hard and not under
the age of 18 years or its equivalence according to the laws of
that country . c. Members shall be admitted on applying in writing
to the Committee, subject to the approval of the general meeting.
d. A member shall exercise the full right of membership on payment
of membership fee of N2,000 (individual) or N 50,000 (corporate) or
its equivalence in US $ or other currency of that country and the
minimum share or installment thereof. e. Must never have been
convicted of any offence involving dishonesty, robbery, stealing
etc. f. A member shall be gainfully employed. 3
4. g. Members must sign the Register of Members in accordance
with extant Laws in force in Nigeria. h. Membership fee payment may
include goodwill which may be reviewed from time to time subject to
the approval of the General meeting. i. In addition, any person or
corporate body admitted shall pay any approved dues and levies set
out for new members. SECTION 5: WITHDRAWAL AND TERMINATION OF
MEMBERSHIP a. A member may resign from the society on giving six
months notice to the committee provided that no member may resign
until: i. After expiration of six (6) months notice. ii. He has
repaid all sums due to the society, or where he is standing surety
or the debt of another member, until the debt has been repaid. b.
Membership shall terminate if a member dies or is of unsound mind
(individual) or publicly declared bankrupt ( corporate body) . c.
Membership may be terminated if the member is guilty of any act or
conduct prejudicial to the interest of the Society and/or is
convicted of any offence involving dishonesty. d. A member may lose
his membership for consistent failure to make savings, to repay
loan in time, or fails to do any of the things required of a member
in this constitution. e. This Co-operative may resolve by a simple
majority vote of those present in general meeting to remove any
member who is guilty of any unconstitutional act or any other bad
behaviour that can negatively affect the credibility of the
Cooperative. f. At the termination of membership of any individual
or corporate body for any reason whatsoever the assets (including
share capital, savings, etc) and liabilities ( including debts)
shall be transferred to the ex-member if he is alive ( individual)
or the corporate body bank account if not declared publicly
bankrupt after appropriate balancing of assets against liabilities
or next of kin if the ex-member is dead(individual) or charity
organizations if the corporate body is declared publicly bankrupt .
SECTION 6: THE LIABILITY OF MEMBERS 4
5. a. The termination of membership shall not affect such
members liability to co- operative society for any unpaid loan for
which the member is a surety or for any debt owed to or by the
co-operative society as at the date of termination. b. Any member
who withdraws his/her membership or is terminated for any reason
whatsoever must transfer his/her slot to a registered member of the
co-operative society or to the co-operative society as a body. c.
The new member must have a surety of at least one person among the
old/ existing members. d. Subject to the approval of the President,
the Society shall have power to claim liquidation damages on
account of lose that might be sustained by the Co-operative Society
consequent upon the withdrawal of membership. SECTION 7: SOURCES OF
INCOME The funds of the Co-operative society shall be derived from:
I. Entrance / admission fees II. Levies III. Grants and Donations
IV. Thrift V. Investment Return VI. Share capital VII. Penalties
VIII. Loans from sources approved by the members. IX. Any other
legitimate source(s). SECTION 8: SERVICES AND TYPES OF LOAN
PRODUCTS 1. Savings (daily, weekly, monthly, quarterly) 2.
Investment loan ( any legitimate business, profit and non-profit)
3. Micro-, small and medium entrepreneurship (MSME) 4. Healthcare
insurance (community and institutional variants) 5. Rural telephone
loan 6. Dorcas project( widows and widowers) 7. Housing loan 8.
Tourism / Holiday loan 9. Agriculture loan 10. Equipment/ Machinery
loan 11. Fixed deposits 12. Special savings ( children educational
school fees, tourism, etc) 13. Business plan Development/ writing
14. Business Management/ Economics (Local and International) 15.
International business opportunities linkage 16.
Social/psychological/ spiritual counseling 17. Career development
and placement 18. Paid volunteerism ( volunteers self-paid on
commission basis of 50% of the membership fee of mobilized
member(s) that finally get registered through their effort) 19.
Mentorship on any area of interest/life 5
6. 20. Training of members to start their own cooperative
society after two years of their membership, in order to increase
their economic base and provide employment for other humans that
were unreached by us, in their different countries of residence.
Training may be online enabled. SECTION 9: DISBURSEMENT AND
APPLICATION OF FUNDS The fund of the Society shall be applied to
the achievement of the societys aims and objectives. SECTION 10:
KEEPING OF ACCOUNT 1. The society shall maintain Account with any
bank of its choice; and shall keep three main Accounts namely: i.
Operational Account- ii. Project/ Loan Account- iii. Savings/
Reserve Funds Account- 2. Signatories to the account shall be the
President, Vice-President, the Secretary ,the Treasurer and
Financial Secretary. 3. The President and Vice-president shall be
the A to the account , the Secretary, Treasurer and Financial
Secretary shall be the B to the account; (a)The A (only the
President or the Vice-President if and only if the President gives
his/her consent to that signatory permit of the Vice-President
through email to the administration officer/ confidential secretary
in the office of that state/national/international management
levels for all countries (printed out for official documentation
and with the same staff ( email receiver) personal visit
transmission to the Operations /Branch Manager of any of the bank
account of the Cooperative) or short message service (sms) or calls
to validate the email print out as authentic for bank transactions
(otherwise ,its fraud) and any of the two of C can withdraw from
the accounts. (b) The consent from the President shall be filed for
documentation accessible to all members including management
committee members. . The Society shall ensure the accurate keeping
of record of all income and expenditure. SECTION 11: SHARE CAPITAL
a. One share shall be valued at N1.00 or its equivalence in other
currency of that country and each member shall subscribe to as many
shares as the general meeting shall decide, from time to time
provided that a members share does not exceed one fifth (1/5) of
the total share capital of the society and subject also to a
minimum of Twenty thousand (20,000) shares- N20,000 or its
equivalence in other currency of that country; 6
7. this provision is optional to ordinary members but
compulsory for management committee members. b. Share may be paid
up in full, or in not more than five installments ( individual
member) or in not more than two installments ( corporate body). c.
No member shall be entitled to withdraw his share unless his
membership is terminated, provided that no share may be withdrawn
until the society has paid any loan it received from outside
source(s). d. A member who fails to pay his/ her installmental
share capital on the due date may be penalized not more than
N500.00 or its equivalence in other currency of that country for
every month or part of the month the installment is overdue.
SECTION 12: THRIFT SAVINGS a. All payments shall be directly into
the approved bank account of the Society with evidence of teller
brought to the appropriate officer for recording and receipting. b.
Each member shall save at least N10, 000.00 (Ten thousand Naira
only) per month ( individual) or its equivalence in other currency
of that country or N100,000. 00 ( One hundred thousand naira only )
or its equivalence in other currency of that country per month
(corporate body) and shall pay this sum (or such greater sum as may
from time to time be decided by the General Meeting) to the
Treasurer through the financial Secretary at each monthly meeting
for credit to his savings account. c. Saving shall only be
withdrawable after twelve (12) calendar months with interest
according to the amount saved per member. d. A member who fails to
pay his/her monthly savings for three(3) consecutive times shall be
liable to a penalty of five hundred naira (500.00) or its
equivalence in US $ or other currency of that country for each
month ( individual member) or N 1000 for each month ( corporate
body) or its equivalence in other currency of that country that the
savings are overdue. SECTION 13: SPECIAL SAVINGS a. Special savings
may include saving for festivities, personal housing project(s),
children educational fees, etc b. Members may engage in monthly
savings of any amount and these may be withdrawn on short notice.
c. The Co-operative Society shall not be liable to pay interest on
special savings but the committee may recommend interest at a rate
not exceeding 10% per annum subject to the approval of the General
Meeting. SECTION 14: DEPOSIT a. Members and non-members may make
deposits of any amount, at any time and these may be withdrawn as
required provided that two weeks notice may be required for 7
8. withdrawal of large amounts (( that is, N50,000.00 and above
(individual) or its equivalence in other currency of that country
or N 250,000.00 and above (corporate body) or its equivalence in
other currency of that country) . b. The Co-operative Society shall
not be under obligation to pay interest on deposits but interest
may be paid at a rate not exceeding 10% per annum. c. The
Co-operative Society may receive grants and donations without
restrictions. SECTION 15: LOANS 1. All types of loans as above in
section 8 (above) shall be available to the general public( members
and non-member) 2. Members loan shall attract interest rate of 10%
per annum of the principal. 3. Non-members loan shall attract more
than interest rate of 10% per annum of the principal. This shall be
negotiable. SECTION 17: USE OF FUNDS a. The funds of the society
shall be applied to the achievement of the objectives of the
society. b. Funds not immediately required shall be treated as
follows: i. The treasurer of the society may retain in his custody
a cash balance not exceeding N20, 000.00 (Twenty Thousand Naira
Only) or its equivalence in other currency of that country. ii. Any
cash balance in excess of this amount shall be deposited in any
branch of the Co-operative Societys Bank Account within 24hours of
such collection. SECTION 18: TRUSTEES AND THEIR QUALIFICATIONS (A)
The trustees of the society shall be the President, Vice-President
, Secretary, and Treasurer . (B)The Trustees of CASHVILLE
MULTI-PURPOSE CO-OPERATIVE SOCIETY LTD for the purpose of the
extant Law regulating Co-operative society shall be elected at a
General Meeting by simple majority votes of members present;
Provided that no body shall be eligible to be elected as trustee
except i. He has at least 5% shares ( and not more than 20% ) of
the total share capital in the co-operative. ii. He/ she must have
a tangible means of livelihood ,that is, is a full time
businessman/ business woman or working class with net worth of at
least (N1,000,000.00) one million naira or its equivalence in the
currency of that country . iii. Must be married. iv. Must be a
person of integrity. v. Not be less than eighteen (18) years of
age. vi. Remain and retain his/her membership for not less than
three (3 ) months. 8
9. (C) Such Trustees (Hereinafter referred to as, The Trustees
or management committee) shall not be less than four and more than
eight in number. (D) A Trustee may hold office for Life but shall
cease to hold office if he: a. Resigns his office b. Ceases to be a
member of the registered Trustees of the body. c. Becomes insane d.
Is officially declared bankrupt e. Is convicted of a criminal
offence involving dishonesty by a Court of competent jurisdiction
f. Is recommended for removal from office by Trustees majority vote
of members present at any General Meeting of the body. g. Ceases to
reside in Nigeria. (D) Upon a vacancy occurring in the number of
Trustees a General Meeting will be held to appoint another eligible
member of the Society. SECTION 19: COMMON SEAL (A) The Trustees
shall have a Common seal. (B) Such Common seal will be kept in the
custody of the Secretary who shall produce it when required for use
by the Trustees. (C) All documents to be executed by the Trustees
shall be signed by the President and Secretary sealed with the
Common seal. SECTION 20: MEETINGS 17.1. For effective
administration of the Association there shall be the following
meetings: 1. Annual General meeting 2. General Monthly meeting 3.
Trustees meeting 4. Management meeting 5. Emergency meeting 17.2.
The quorum for the meetings shall respectively be: 1. Two third of
the registered members (Annual General meeting) 2. Half of the
Trustees (Trustees Monthly meeting) 3. Two third of the Management
Committee (General Monthly meeting) 4. Four members of the
Management Committee present (Emergency meeting) SECTION 21:
MANAGEMENT COMMITTEE AND THEIR QUALIFICATION The Governing body of
the co-operative society shall be the management committee elected
by simple majority votes of members present in the General meeting.
This shall consists of the State, (geo-political) Zonal, National
and International Management Committees. SECTION 22 : STATE
MANAGEMENT COMMITTEE AND THEIR QUALIFICATION The state level of
management in each country shall be the lowest (fourth) in terms of
hierarchy of authourity in the management of the cooperative
worldwide. 9
10. A member shall qualify to be eligible for Committee if
he/she satisfies these conditions: i. He/ she must have a tangible
means of livelihood ,that is, is a full time businessman/ business
woman or working class with net worth of at least (N1,000,000.00)
one million naira or its equivalence in other currency of that
country . ii. Must be married. iii. Must be a person of integrity.
iv. Not be less than eighteen (18) years of age. v. Must have been
selected at each state( lowest level of management) of that country
by election (transparently) A member of the committee shall cease
to hold office if he/ she : (a) Ceases to be a member of the
Society; (b) Becomes of unsound mind; (c) Lends money on his own
account; (d) Become financially embarrassed; (e) Becomes a paid
servant of the Society; (f) Acts in a manner prejudicial to the
interest of the Society (g) Is recommended for removal by the
President on account of any or some of the above cited reasons(a-f)
without putting same removal action into vote of majority as same
officer(nominee without letter /appointee by letter) was promoted
from the ranks and files of the ordinary membership (if that was
the case, with an already existing branch of the cooperative, which
by our byelaws definition, that branch has been in existence for at
least one month ) or nominated/appointed when that branch is just
starting in less than month . Those subject for removal shall
include: The Vice-President, Secretary, Treasurer, Assistant
Secretary, Financial Secretary, Legal Adviser and Public Relations
Officer, Provost and any other and all nominated /appointed
officers of the Cooperative at any time as and when necessary. (h)
In event that the President is deemed to in his/her discharge of
duties to be careless or carefree the trustees and management
committees of all /any level shall report same to the Director of
Cooperative for that State(Nigeria /Internationally) for
appropriate advise/intervention to get the Cooperative President to
get rid of ,if need be, any acrimony/misunderstanding. (i) Without
the permission of Director of Cooperative for that State(Nigeria
/Internationally) on any perceived misunderstanding of issues in
the Cooperative ,reporting same to the Judiciary Courts shall be a
null and void step, therefore not honourable by the Cooperative, at
any cost, provided the byelaws are followed in discharge of duties
and responsibilities. Available offices are : i. The President ii.
Vice President iii. Secretary iv. Assistant Secretary v. Financial
Secretary vi. Treasurer vii. P.R.O viii. Provost 10
11. ix. Legal Adviser SECTION 22.2 Notwithstanding the state
branch physical address of all states worldwide and above listed
nine offices ( that is, i-ix) the State management level shall be
at liberty, with approval (hard copies registration and entry into
the databank, otherwise is fraudulent ) from the National and
International management levels, have as many as possible points of
service (POS) ,for purpose of administrative convenience of members
and non-members transactions, in all Local Government Areas of that
same state. SECTION 22.3 The liaison officer(s) at all points of
service in all states shall be registered members of the Society.
This may be volunteer(s) or administrative officer(s). Volunteers
are paid on commission with 50% (for example, N1,000 for individual
or N50,000 for corporate firm in Nigeria) of the registered
membership fee. Paid ( not free) volunteers shall be a part of the
marketing department of the Society. All paid volunteers shall have
a standard sign post/board as identification symbol of the Society.
The volunteer, having satisfied the pre-requisite for volunteerism
(marketing) including contractual agreements of paying for standard
/approved sign post(s) ( the sign posts become necessary if the
volunteer have more than one point of service in that state) and
counting from the date of approval as same, shall be a given a
period of one (1) month duration to pay , collect and mount his/her
sign post(s). Administrative staff(s) may be ad-hoc staff paid with
conditions of service to be determined by Annual General Meeting
with approval of the Trustees at the International/National/State.
Volunteers, Administrative officers and Management Committee
members with international best practice track records shall be
rewarded with prizes for their efforts at the Societys Annual
National/International Conference(s). SECTION 22.4 The marketing
department shall contractually engage professional(s) (artists) to
design /print sign posts for all offices including point of service
of the Society. The international level trustees or management
committee level at their Annual General Meeting shall agree and
transmit the proto-type sign post to all states worldwide, trusting
each state shall abide to their regulating agencies requirements
for sign posting. Challenges resulting from sign posting shall be
relayed to the different levels of management for the international
level to take a consultative decision(s). SECTION 22.5 Every state
management level shall grow and develop (including membership
increment) according to the extant laws regulating units of
formation of the Society , from Primary ( where the registered
Society through /at the Local Government Area/ State Ministry of
11
12. Commerce and Cooperative has written or typed the name of a
village/town/city representing the physical address of the Society
in that Local Government Area). The Society shall register their
name with the Ministry of Commerce at different village/town/city
in order to achieve Secondary or Union status of registration of
the Society. The Society shall proceed to achieve Apex status of
registration by registering all their branches of the Secondary
/Union status. To achieve a status in Nigeria as National, nay
globally as International, Society all the Apex branches of all
states shall be verified and registered if authentic to the credit
of the Society. The National status of the Society is being
processed for permission by the Federal Department of Cooperative
(of Nigeria) to the International status registration. SECTION 22.6
Only Vice-President(s) of any(all) state(s) worldwide that have
strategically grown their Primary to the Apex status of the Society
shall be entitled to promotion to become the President of the
Society in their State. Such a President may be on secondment to
other state(s) in sharing their success story model(s) to
strengthen weaker branches of the Society. Presidents with
international best practice track records shall be rewarded with
prizes for their efforts at the Societys Annual
National/International Conference(s). SECTION 22.7 Trustees
approval of all activities at lower levels of management shall be
transmitted to the Trustees at national ,and then international
level for approval/documentation. SECTION 23: (GEO-POLITICAL) ZONAL
MANAGEMENT COMMITTEE AND THEIR QUALIFICATION The zonal level of
management in each country shall be the second lowest (third) in
terms of hierarchy of authourity in the management of the
cooperative worldwide. A member shall qualify to be eligible for
Committee if he/she satisfies these conditions: j. He/ she must
have a tangible means of livelihood ,that is, is a full time
businessman/ business woman or working class with net worth of at
least (N1,000,000.00) one million naira or its equivalence in other
currency of that country . k. Must be married. l. Must be a person
of integrity. m. Not be less than eighteen (18) years of age. n.
Must have been selected at each state( lowest level of management)
of that country by election (transparently) A member of the
committee shall cease to hold office if he/ she : 12
13. (j) Ceases to be a member of the Society; (k) Becomes of
unsound mind; (l) Lends money on his own account; (m) Become
financially embarrassed; (n) Becomes a paid servant of the Society;
(o) Acts in a manner prejudicial to the interest of the Society (p)
Is recommended for removal by the President on account of any or
some of the above cited reasons(a-f) without putting same removal
action into vote of majority as same officer(nominee without letter
/appointee by letter) was promoted from the ranks and files of the
ordinary membership (if that was the case, with an already existing
branch of the cooperative, which by our byelaws definition, that
branch has been in existence for at least one month ) or
nominated/appointed when that branch is just starting in less than
month . Those subject for removal shall include: The
Vice-President, Secretary, Treasurer, Assistant Secretary,
Financial Secretary, Legal Adviser and Public Relations Officer,
Provost and any other and all nominated /appointed officers of the
Cooperative at any time as and when necessary. (q) In event that
the President is deemed to in his/her discharge of duties to be
careless or carefree the trustees and management committees of all
/any level shall report same to the Director of Cooperative for
that State(Nigeria /Internationally) for appropriate
advise/intervention to get the Cooperative President to get rid of
,if need be, any acrimony/misunderstanding. (r) Without the
permission of Director of Cooperative for that State(Nigeria
/Internationally) on any perceived misunderstanding of issues in
the Cooperative ,reporting same to the Judiciary Courts shall be a
null and void step, therefore not honourable by the Cooperative, at
any cost, provided the byelaws are followed in discharge of duties
and responsibilities. Available offices are : i. The President ii.
Vice President iii. Secretary iv. Assistant Secretary v. Financial
Secretary vi. Treasurer vii. P.R.O x. Provost xi. Legal Adviser
SECTION 24: NATIONAL MANAGEMENT COMMITTEE AND THEIR QUALIFICATION
The second management committee of the co-operative society shall
be the management committee elected by simple majority votes of
members present in the Annual General meeting. This national level
management of each country shall be the second (middle) in terms of
hierarchy of authourity in the management of the cooperative
worldwide. A member shall qualify to be eligible for Committee if
he/she satisfies these conditions: 13
14. o. He/ she must have a tangible means of livelihood ,that
is, is a full time businessman/ business woman or working class
with net worth of at least (N1,000,000.00) one million naira or its
equivalence in other currency of that country . p. Must be married.
q. Must be a person of integrity. r. Not be less than eighteen (18)
years of age. s. Must be selected at each second level of
management of all states of that country. A member of the committee
shall cease to hold office if he/ she : (s) Ceases to be a member
of the Society; (t) Becomes of unsound mind; (u) Lends money on his
own account; (v) Become financially embarrassed; (w) Becomes a paid
servant of the Society; (x) Acts in a manner prejudicial to the
interest of the Society. (y) Is recommended for removal by the
President on account of any or some of the above cited reasons(a-f)
without putting same removal action into vote of majority as same
officer(nominee without letter /appointee by letter) was promoted
from the ranks and files of the ordinary membership (if that was
the case, with an already existing branch of the cooperative, which
by our byelaws definition, that branch has been in existence for at
least one month ) or nominated/appointed when that branch is just
starting in less than month . Those subject for removal shall
include: The Vice-President, Secretary, Treasurer, Assistant
Secretary, Financial Secretary, Legal Adviser and Public Relations
Officer, Provost and any other and all nominated /appointed
officers of the Cooperative at any time as and when necessary. (z)
In event that the President is deemed to in his/her discharge of
duties to be careless or carefree the trustees and management
committees of all /any level shall report same to the Director of
Cooperative for that State(Nigeria /Internationally) for
appropriate advise/intervention to get the Cooperative President to
get rid of ,if need be, any acrimony/misunderstanding. (aa) Without
the permission of Director of Cooperative for that State(Nigeria
/Internationally) on any perceived misunderstanding of issues in
the Cooperative ,reporting same to the Judiciary Courts shall be a
null and void step, therefore not honourable by the Cooperative, at
any cost, provided the byelaws are followed in discharge of duties
and responsibilities. Available offices are: i. The President ii.
Vice President iii. Secretary iv. Assistant Secretary v. Financial
Secretary vi. Treasurer vii. P.R.O xii. Provost xiii. Legal Adviser
xiv. Chairman and Secretary of Agriculture programme committee
14
15. xv. Chairman and Secretary of Microfinance bank programme
committee xvi. Chairman and Secretary of Systems/ Standards/
Auditing programme committee xvii. Chairman and Secretary of
Planning/event/conference programme committee xviii. Chairman and
Secretary of Infrastructural (offices /fixtures and furniture)
programme committee xix. Chairman and Secretary of Oil and Gas
programme committee xx. Chairman and Secretary of Real
estate/properties programme committee xxi. Chairman and Secretary
of Educational programme committee xxii. Chairman and Secretary of
Business plan development/writing programme committee xxiii.
Chairman and Secretary of Business Management/Economics programme
committee xxiv. Chairman and Secretary of Loan programme committee
xxv. Chairman and Secretary of Savings programme committee xxvi.
Chairman and Secretary of Special savings programme committee
xxvii. Chairman and Secretary of Deposit programme committee
xxviii. Chairman and Secretary of National health insurance scheme
/ programme committee xxix. Chairman and Secretary of Social/
Psychological/ spiritual counseling programme committee xxx.
Chairman and Secretary of International business opportunities
linkage programme committee xxxi. Chairman and Secretary of Career
development and placement programme committee SECTION 24.2
Administrative officers and Management Committee members with
international best practice track records shall be rewarded with
prizes for their efforts at the Societys Annual
National/International Conference(s). SECTION 24.3 Only
Vice-President(s) of any(all) country(ies) worldwide that have
strategically grown their Primary to the Apex status of the Society
shall be entitled to promotion to become the President of the
Society in their State. Such a President may be on secondment to
other nations in sharing their success story model(s) to strengthen
weaker branches of the Society. Presidents with international best
practice track records shall be rewarded with prizes for their
efforts at the Societys Annual National/International
Conference(s). SECTION 25: INTERNATIONAL MANAGEMENT COMMITTEE AND
THEIR QUALIFICATION The highest management committee of the
co-operative society shall be the management committee elected by
simple majority votes of members present in the Annual General
meeting. 15
16. A member shall qualify to be eligible for Committee if
he/she satisfies these conditions: t. He/ she must have a tangible
means of livelihood ,that is, is a full time businessman/ business
woman or working class with net worth of at least (N1,000,000.00)
one million naira or its equivalence in other currency of that
country . u. Must be married. v. Must be a person of integrity. w.
Not be less than eighteen (18) years of age. x. Must be elected at
second level of management of all countries ( national management
committees ). A member of the committee shall cease to hold office
if he/ she : i. Ceases to be a member of the Society; ii. Becomes
of unsound mind; iii. Lends money on his own account; iv. Become
financially embarrassed; v. Becomes a paid servant of the Society;
vi. Acts in a manner prejudicial to the interest of the Society.
vii. Is recommended for removal by the President on account of any
or some of the above cited reasons(a-f) without putting same
removal action into vote of majority as same officer(nominee
without letter /appointee by letter) was promoted from the ranks
and files of the ordinary membership (if that was the case, with an
already existing branch of the cooperative, which by our byelaws
definition, that branch has been in existence for at least one
month ) or nominated/appointed when that branch is just starting in
less than month . Those subject for removal shall include: The
Vice-President, Secretary, Treasurer, Assistant Secretary,
Financial Secretary, Legal Adviser and Public Relations Officer,
Provost and any other and all nominated /appointed officers of the
Cooperative at any time as and when necessary. viii. In event that
the President is deemed to in his/her discharge of duties to be
careless or carefree the trustees and management committees of all
/any level shall report same to the Director of Cooperative for
that State(Nigeria /Internationally) for appropriate
advise/intervention to get the Cooperative President to get rid of
,if need be, any acrimony/misunderstanding. ix. Without the
permission of Director of Cooperative for that State(Nigeria
/Internationally) on any perceived misunderstanding of issues in
the Cooperative ,reporting same to the Judiciary Courts shall be a
null and void step, therefore not honourable by the Cooperative, at
any cost, provided the byelaws are followed in discharge of duties
and responsibilities. Available offices are: i. The President ii.
Vice President iii. Secretary iv. Assistant Secretary v. Financial
Secretary 16
17. vi. Treasurer vii. P.R.O xxxii. Provost xxxiii. Legal
Adviser xxxiv. Chairman and Secretary of Agriculture programme
committee xxxv. Chairman and Secretary of Microfinance bank
programme committee xxxvi. Chairman and Secretary of Systems/
Standards/ Auditing programme committee xxxvii. Chairman and
Secretary of Planning/event/conference programme committee xxxviii.
Chairman and Secretary of Infrastructural (offices /fixtures and
furniture) programme committee xxxix. Chairman and Secretary of Oil
and Gas programme committee xl. Chairman and Secretary of Real
estate/properties programme committee xli. Chairman and Secretary
of Educational programme committee xlii. Chairman and Secretary of
Business plan development/writing programme committee xliii.
Chairman and Secretary of Business Management/Economics programme
committee xliv. Chairman and Secretary of Loan programme committee
xlv. Chairman and Secretary of Savings programme committee xlvi.
Chairman and Secretary of Special savings programme committee
xlvii. Chairman and Secretary of Deposit programme committee
xlviii. Chairman and Secretary of National health insurance scheme
/ programme committee xlix. Chairman and Secretary of Social/
Psychological/ spiritual counseling programme committee l. Chairman
and Secretary of International business opportunities linkage
programme committee li. Chairman and Secretary of Career
development and placement programme committee SECTION 25.2
Administrative officers and Management Committee members with
international best practice track records shall be rewarded with
prizes for their efforts at the Societys Annual
National/International Conference(s). SECTION 25.3 Only any of the
Vice-President(s) that have strategically grown their Primary to
the Apex status of the Society in their country shall be entitled
to promotion to become the International President. International
President with international best practice track records shall be
rewarded with prizes for their efforts at the Societys Annual
National/International Conference(s). In the event of a promotion
of a Vice-President to the post of International President then the
election process shall be to adopt the candidate, among other
qualified candidates , from 17
18. different countries, as the proper candidate to have been
elected as the International President. Any litigation to this
pre-requisite shall be punishable by out right dis-
membership/termination of membership of such candidate/member for
the Society. SECTION 26: POWERS AND DUTIES OF GENERAL MEETING AND
THE MANAGEMENT COMMITTEE ( STATE/ THIRD, NATIONAL/SECOND AND
INTERNATIONAL/FIRST LEVELS). a. Every member present must sign the
attendance register at every Annual General meeting. b. The Monthly
General Meeting shall be held once in every month in accordance
with extant co-operative law. c. The Monthly General Meeting shall
in addition: i. Confirm the admission and termination of members.
ii. Make rule when necessary for the smooth operations of the
co-operative societys business. iii. Approve the investment of the
co-operative societys funds in fixed assets. iv. Increase the
minimum shares and/or thrift savings. v. Approve the rate of
interest on loans and deposits. vi. Approve the salaries of staff.
vii. Determine appeals from members and staff. viii. Determine the
hours of business of the co-operative society. d. The Management
Committee shall consist of: i. Available offices are: i. The
President ii. Vice President iii. Secretary iv. Assistant Secretary
v. Financial Secretary vi. Treasurer vii. P.R.O 18
19. viii. Provost ix. Legal Adviser x. Chairman and Secretary
of Agriculture programme committee xi. Chairman and Secretary of
Microfinance bank programme committee xii. Chairman and Secretary
of Systems/ Standards/ Auditing programme committee xiii. Chairman
and Secretary of Planning/event/conference programme committee xiv.
Chairman and Secretary of Infrastructural (offices /fixtures and
furniture) programme committee xv. Chairman and Secretary of Oil
and Gas programme committee xvi. Chairman and Secretary of Real
estate/properties programme committee xvii. Chairman and Secretary
of Educational programme committee xviii. Chairman and Secretary of
Business plan development/writing programme committee xix. Chairman
and Secretary of Business Management/Economics programme committee
xx. Chairman and Secretary of Loan programme committee xxi.
Chairman and Secretary of Savings programme committee xxii.
Chairman and Secretary of Special savings programme committee
xxiii. Chairman and Secretary of Deposit programme committee xxiv.
Chairman and Secretary of National health insurance scheme /
programme committee xxv. Chairman and Secretary of Social/
Psychological/ spiritual counseling programme committee xxvi.
Chairman and Secretary of International business opportunities
linkage programme committee xxvii. Chairman and Secretary of Career
development and placement programme committee All these Management
Committee(s) members shall be elected at the Co-operative Societys
Annual General Meeting or in the event if a vacancy occurred during
the year, at any Monthly General Meeting; Provided that the office
of the international President which shall be reserved for the
Founder/ First President of the Cooperative Society is not
elective. This is derivable from the fact that the first and
international President/ Founder serves as the link to other
branches of the Cooperative. However, the first President may
voluntarily vacate his office as the international President after
ten years of leadership of the Cooperative in the hope that a
proper succession plan shall be put in place to make the post of
the international President elective. The post of the international
President shall be open for election to all /any ethnic group/
tribe in and outside Nigeria . International best practices shall
be the procedures guiding this election including transparency and
monitoring by appropriate electioneering agencies (local/
international). 19
20. In the event of falsification of result of election process
into the office of the State/ National/ International President(s)
the Nigeria Police, EFCC and ICPC and the Industrial Court shall
wade into the matter with the status quo maintained, until the
final decision by the Court. However, in the event that the
decision of the Industrial Court is not satisfactory to the simple
majority of the State/National/International management
committee(s) the Board of Trustees at each
State/National/International level(s) shall meet with the
(Industrial) Court principals to negotiate for acceptable solution,
and that shall be the final and must be acceptable position to/of
the Society worldwide. The first international President, who is
the Founder, shall be Dr. Henry Akpojbaro Efegbere ( a native of
Owhase and Ovwian towns, Udu Local Government Area, Delta State,
Nigeria, West Africa) e. The management committee shall be governed
by extant law regulating co-operative society and shall stay in
office for two (2) years. Any vacancy filled during the year shall
be terminated along with the members of the management Committee.
No member shall remain in the same office for more than two terms.
f. No member shall be eligible for election or remain a member of
any management Committee if he/she: i. Resigns from office in
writing. ii. Ceases to be member of the Co-operative society. iii.
Becomes insane. iv. Is convicted of any offence involving
dishonesty. SECTION 27: POWERS AND DUTIES OF PATRONS AND PATRONNESS
(ADVISORY COMMITEE) A member shall qualify to be eligible for
Advisory Committee if he/she satisfies these conditions: i. He/ she
must have a tangible means of livelihood ,that is, is a full time
businessman/ business woman or working class with net worth of at
least (N1,000,000.00) one million naira or its equivalence in other
currency of that country . ii. Must be married. iii. Must be a
person of integrity and humble. iv. Must be disposed to mentor
members of the Society. v. Not be less than eighteen (50) years of
age. vi. Have proven track records by international best practice
standards. vii. S/he shall not be entitled to monetary payment for
their service except as honoraria as may be decided by the Board of
Trustees at the International level. viii. Must be recommended at
any level of management of all countries. A member of the committee
shall cease to hold office if he/ she : x. Ceases to be a member of
the ( and Advisory Committee) Society; xi. Becomes of unsound mind;
20
21. xii. Lends money on his own account; xiii. Become
financially embarrassed; xiv. Becomes a paid servant of the
Society; xv. Acts in a manner prejudicial to the interest of the
Society SECTION 28: DUTIES OF THE MANAGEMENT COMMITTEE(S) MEMBERS.
A. THE PRESIDENT i. The (International/ National/ State )President
shall be the principal officer of the Co- operative and shall be
responsible for ensuring that the Law, Rules Bye-Law are observed
by other officers and members and all the decisions and directions
of the Governing Body/ General meeting are given effect to. ii.
Shall preside at general meetings and Management Committee Meetings
and shall ensure that meetings are summoned as prescribed in Rules
and Bye-Laws. B. VICE PRESIDENT (INTERNATIONAL/ NATIONAL/ STATE) i.
Shall carry out all functions of the President in the absence of
the President; provided it is with the consent of the President.
ii. Any duty assigned to him by the President. C. THE
SECRETARY(INTERNATIONAL/ NATIONAL/ STATE) i. Shall have custody of
all the societys book of records. ii. Shall attend the entire
general and Committee Meetings and shall carry out all the
instructions of the Committee. iii. Shall record the whole of the
proceedings of the Co-operatives Meeting. iv. Shall conduct
correspondences on behalf of the Co-operative Society. v. Shall
have custody of the societys seal. D. ASSISTANT
SECRETARY(INTERNATIONAL/ NATIONAL/ STATE) i. Shall carry out all
the functions of the secretary in the absence of the secretary. ii.
Shall carry out any other functions as may be assigned to him by
the management committee. E. FINANCIAL SECRETARY(INTERNATIONAL/
NATIONAL/ STATE) i. The financial secretary shall be responsible
for all financial records of the Co- operative and shall work in
close contact with the treasurer, collecting all dues, levies,
fines, e.t.c. ii. Shall hand over all the money collected by him on
behalf of the Society to the treasurer within twenty four (24)
hours. iii. Shall present all the documents related to the
Co-operative Societys business for auditing. iv. Shall counter-sign
all vouchers with the President / Vice President. 21
22. v. Shall present a half yearly report of the financial
transactions of the society to the Committee and the general
meeting. vi. Shall report any number or group who fails, neglect or
deliberately refuses to pay his/her dues or contributions to the
Committee or the General meeting. vi. Shall be a signatory to the
societys Bank account. F. TREASURER(INTERNATIONAL/ NATIONAL/ STATE)
i. The treasurer shall be responsible for safe custody of the cash
and other banking document. ii. Shall receive all money, dues or
payable to the society. iii. Shall receive from the financial
secretary, money collected on behalf of the society. iv. May retain
in his custody any cash balance not exceeding Twenty thousand (N20,
000.00) naira or its equivalence in the currency of that country.
v. Shall keep a record of all moneys received by him and all monies
paid by him. vi. Shall produce at all times, when called upon, by
the Committee Auditors, the Director or any person authorized by
him, all moneys and the relevant documents in his possession
belonging to the society. vii. Shall be a signatory to the societys
Bank Account. viii. Shall account for the imprest account monthly.
G. PUBLIC RELATIONS OFFICER (INTERNATIONAL/ NATIONAL/ STATE) i.
Shall publicize the activities of the society adequately through
approved media. H. PROVOST/ WHIP(INTERNATIONAL/ NATIONAL/ STATE) i.
Shall be responsible for maintaining discipline during all the
society, meeting, and functions. ii. Shall collect fine from
latecomer, noise makers, and other defaulters and pay same to the
financial secretary. I. LEGAL ADVISER(INTERNATIONAL/ NATIONAL/
STATE) i. Shall be responsible for all Legal related issues.
CHAIRMAN AND SECRETARY OF ALL PROGRAMMES ( X -XXVII) 1. These shall
be as directed by the International President of the Cooperative
Society. SECTION 28: PENALTY I. Any member that fails to contribute
his money in the meeting will pay a penalty of N100 or its
equivalence in other currency of that country on the expected money
and if after one week, he will be paying a penalty of N50 or its
equivalence in other currency of that country daily on the money
until it is paid. II. Absenteeism without permission attracts a
penalty of N100 or its equivalence in other currency of that
country. III. Lateness to meetings attracts a penalty of N50 or its
equivalence in other currency of that country and this starts 15
minutes after the scheduled time. IV. Our meeting day is last
Saturday of every month and the time is between 4:00pm and 6:00pm.
22
23. SECTION 29: BANKING I. The society will maintain at least
three (3) accounts with any Banks of its choice. II. Signatories to
the account are the President, Vice President, Secretary, Financial
Secretary and the Treasurer provided that the President and any
other two (2) out of the five (5) signatories can withdraw from the
account subject to section 9 of this constitution. SECTION 30:
DISPOSAL OF ANNUAL SURPLUS. a. The Annual Net Surplus of the
Society shall be determined after charging all the expenses of the
Society to the income and expenditure account and after providing
for interest at a rate not exceeding 1%. See section 34 of Decree
90 of 1993. b. 25% of the net surplus shall be allocated to reserve
fund. c. A part of the net profit may be used to pay honouraria to
the members of the management committee. d. The state/province
branch(es) of the cooperative in all countries of the world shall
remit 10% to the zonal and 10% to the national management
committees of their country and 5% to the international management
committee of their annual surplus which shall be used for running
the zonal , national and international office(s) globally. e. The
zonal as well as the national management committee(s) of different
countries shall remit 3% of their annual surpluses respectively to
the international management committee for running of their office.
f. All remittance of annual surpluses shall be in US $ or
equivalent currency in that country g. Any balance of the net
surplus may be used for the welfare of the members. See section 34
and Rule 12 of Decree No. 90 of 1993. SECTION 31: APPOINTMENT OF
AUDITOR(S) (INTERNATIONAL/ NATIONAL/ STATE) 1. Internal Auditor(s)
shall be appointed by the general meeting to audit the financial
records of the society annually and submit an audited report to the
Annual General Meeting of the Association. 2. The audited financial
statements (balance sheet and income and expenditure account) duly
certified by internal auditor(s) shall be annexed to the annual
returns. SECTION 32: AMENDMENT OF CONSTITUTION This Co-operative
Society may alter the provision of this Constitution at a General
meeting by a resolution passed by a simple majority of its members/
of the different levels of management committees and finally
approved by the international management committee. Dated this
___________ day of June, 2015 23 1st
24. ____________________ __________________________ Signature
of President Signature of Secretary & Date Dr. Henry Akpojubaro
Efegbere Mr. Terfa Sunny Iortyom _____________________
__________________________ Name of President & Tel. No. Name of
Secretary & Tel. No. Mobile: 08035984104 Mobile: 08036202961
24