Chairman of the Outdoor Advertising Association of Nigeria (OAAN) Cooperative and Multipurpose Society (CMS), Wole Odubanjo has disclosed that in 2022, a net plus of N1,012,945 has been realised.
In his welcome address at the first Annual General Meeting of the body in Lagos recently, he said OAAN CMS has been able to overcome the initial problems associated with the take-off, adding that “we can safely conclude that we are clear on how to navigate through the coming years, taking full advantage of our vibrant and dynamic OAAN constituency.”
He disclosed that about half of the surplus would be paid as dividends to members, while projecting that the volume of operations would also increase.
Odubanjo noted that membership strength and scope of operations have increased through commercial loans, sales of essential commodities, support for payment of school fees and other products being developed.
In his speech, OAAN President, Emmanuel Ajufo, revealed that in the first year of its existence, the CMS surpassed expectations, while encouraging the management to improve in every area.
He also asked those who entertained doubts on the potentials of the CMS, to come in and be part of the venture.
Under the leadership of its president in 2020, Chief Emmanuel Ajufo inaugurated a committee charged with evolving a vibrant cooperative society.