The Federal Government has called on cooperative societies across the South-South region to invest in the proposed Cooperative Bank of Nigeria and embrace digital reforms aimed at strengthening the cooperative sector.
The appeal was made by the Minister of State for Agriculture and Food Security, Aliyu Abdullahi, during the grand finale of the 2026 United Nations International Day of Cooperatives and the South-South Zonal Ministerial Advocacy Tour on Cooperative Bank share capital mobilisation held in Yenagoa.
Represented by his Special Adviser on Cooperative Matters, Victor Oyegoke, the minister said the proposed Cooperative Bank of Nigeria would be government-enabled but fully owned and controlled by cooperative societies across the country.
Cooperative Bank to Boost Financial Inclusion
Abdullahi said the proposed bank would provide affordable financial services to farmers, artisans, traders, women, youths, micro, small and medium-sized enterprises (MSMEs), and cooperative businesses.
He urged cooperative societies in the South-South to participate in the ongoing share capital mobilisation exercise to become foundation shareholders of the bank.
FG Unveils Cooperative Digitalisation Drive
The minister also announced a nationwide digitalisation programme designed to modernise cooperative operations and improve accountability.
Under the initiative, every registered cooperative society will be issued a Cooperative Verification Number (CVN), while individual members will receive a Cooperative Member Identification Number (CMIN).
According to him, the digital platform will enhance transparency, eliminate fraudulent cooperative societies, strengthen governance and expand access to financing and investment opportunities.
Renewed Hope Reforms
Abdullahi said the reforms form part of the Renewed Hope Cooperative Reform and Revamp Programme 2030, approved by the National Council on Cooperative Affairs.
He explained that the programme aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda by repositioning cooperatives as key drivers of food security, financial inclusion, job creation and economic growth.
Bayelsa Commended
The minister commended Bayelsa State Governor, Douye Diri, for promoting cooperative development through the State Bureau for Cooperative Development.
He noted that the state’s investment in cooperatives has strengthened financial inclusion and empowered citizens through sustainable economic initiatives.
Bayelsa Cooperatives Pledge Support
Speaking at the event, Bayelsa Commissioner for Trade, Industry and Investment, Ebieri Jones, said the state government had strengthened the regulation and governance of cooperative societies, enabling them to remain active and profitable.
Also, President of the Bayelsa Cooperative Federation, Toney Soroh, praised the Federal Ministry of Agriculture and Food Security for its ongoing reforms and pledged that all 43 active cooperative societies in the state would subscribe to shares in the proposed Cooperative Bank of Nigeria.
More than 40 cooperative societies participated in the 2026 United Nations International Day of Cooperatives celebration, which also featured panel discussions on the proposed bank and a drama presentation highlighting the benefits of cooperative membership for farmers and small business owners.
