Erhovwo Multi-Purpose Cooperative Hold AGM, Hits N1billion Capital Base In Delta

"Borrowing is not for marriage. It is not for burial. It is not social gatherings. Cooperative money is meant for business, trading and you must put it where you know you can return it back so that other members can borrow." Eru

The Erhovwo Multi-Purpose Cooperative Society Limited, Agbarho in Delta state,  today celebrated its 19th Annual General Meeting, AGM amidst pomp and pageantry as the Delta State Ministry of Trades & Industries rated the Cooperative as the "#2" (second best) Cooperative in the State.

The colorful event held at Beeland Hotel, Orhunwhorhun Community in  Udu Local Government Area of Delta State. 

President of Erhovwo Multi-Purpose Cooperative Society Limited, Evang. Sunday Eru in an address during the colorful event, said the cooperative society has recorded so many successes and has hit a capital base of one billion naira pointing that its emergence as second best makes them joyful stressing that they are making progresses.

While noting that the cooperative society is between him and members of the Cooperative, Evang. Eru said the Cooperative Society has many challenges because funds are involved. 

According to him, "Money matter sometimes, once it goes out before it comes back, it takes sometime. It is with the grace of God that we are trying to see how we can manage all these."

Evang. Eru urged members of the Erhovwo Multi-purpose cooperative society to ensure that they have a purpose before they borrow funds (money) from the cooperative.

"My message to all the members of Erhovwo Cooperative Society, before you borrow, make sure you have a purpose for the borrowing. 

"Borrowing is not for marriage. It is not for burial. It is not social gatherings. Cooperative money is meant for business, trading and you must put it where you know you can return it back so that other members can borrow."

Evang. Eru als appealed to the Delta State Government to recognize cooperative societies in the State, stressing that cooperative societies meet with the grassroots and the petty traders. 

"We are the ones who know their pains, who finance them. So, if the government can set up a good ministry funding the cooperative societies through those ministry, the cooperative will move and they will reduce the number of poverty in the State."

He disclosed that the Erhovwo Multi-purpose Cooperative Society has plans to venture into other businesses like farming in the near future.

"As you can see, we have so many lands around us that we are preparing to go for event centre or build a private school in the name of the Cooperative.

Earlier in an address, the Assistant Director, Ministry of Trades & Industries, Chief Joseph Okotie said the Erhovwo Multi-purpose Cooperative Society is the second best cooperative in the entire State with its prudent management of resources as well as the level of transparency and accountability with respect to its funds.

The Erhovwo Multi-purpose Cooperative Society was established twenty years ago and it is progressing with Evang. Sunday Eru as the second president serving till date.