By Nifesimi Ogungbe
The SSANU Cooperative and Multipurpose Society of the Federal University Oye-Ekiti (FUOYE) celebrated its 10th anniversary alongside the 2024/2025 Annual General Meeting (AGM), reaffirming its dedication to transparency, financial accountability, and strategic investments aimed at boosting members’ welfare and ensuring long-term sustainability.
Speaking at the epochal event on Wednesday, August 5, 2026, the Cooperative President, Mr. Adewumi Oluranti Temitope, described the occasion as a milestone in the society’s history, noting that it marked ten years of resilience, collective prosperity, and prudent financial management.
President Adewumi noted that the cooperative, founded in April 2014 with just 11 pioneer members, has grown into one of the most vibrant societies within the Federal University Oye-Ekiti community, driven by discipline, innovation, and unwavering member support.
Adewumi highlighted that the society has consistently prioritised members’ welfare through accessible loans, financial support, and investment opportunities that have positively impacted members and their families. He added that despite current economic challenges, the Executive Committee remains committed to strengthening the cooperative via prudent financial management, improved service delivery, and increased member participation.
The Cooperative President stressed that transparency is fundamental to the society’s operations. He thanked representatives of the Ministry of Trade and Cooperatives for conducting a thorough audit of the society’s accounts, describing the audit report as an accurate reflection of the society’s transparent and accountable financial practices.
He clarified that funds for anniversary gifts and event arrangements were sourced from accrued interests over previous years, not from members’ contributions.
Looking ahead, Adewumi called for a shift from the traditional savings and loans model to strategic investments that can generate sustainable income. He encouraged members to contribute innovative ideas that will secure the society’s future and facilitate its expansion amid changing economic conditions.
A key highlight of the celebration was recognising individuals whose vision, sacrifices, and commitment established the foundation for the cooperative’s success. Comrade Mutiu Ademola was honoured as the visionary founder of the society, while Dr. Michael O. Ajisope was recognised as the Pillar of the SSANU Cooperative for his significant contributions. The Most Outstanding Co-operator Award was presented to Mr. Adohoje Emmanuel Usman for his dedication and unwavering commitment.
The event also included the presentation of dividends and anniversary gifts to all members, who warmly received the gesture and appreciated the leadership’s efforts to ensure all members benefit from the society’s success.
Many cooperators applauded the Executive Committee led by Mr. Adewumi Oluranti Temitope, describing his leadership as one of the best in the society’s history. They praised the transparency, financial prudence, accountability, inclusive welfare initiatives, and notable achievements that have enhanced members’ confidence and boosted the society’s reputation.
In his closing remarks, Adewumi expressed gratitude to the Vice-Chancellor, Professor Joshua Olalekan Ogunwole, the management team, officials of the Ministry of Trade and Cooperatives, Registrar, Mr. Mufutau Ibrahim, Bursar, Dr. Adekemisola Debo-Ajagunna, SSANU FUOYE leaders, led by Comrade Benjamin Faleye, and all members for their ongoing trust and support. He called on members to stay united, embrace innovative ideas, and work together to build a stronger, more prosperous cooperative.
The Registrar of the institution, represented by Dr. Sunday Osamoka, Deputy Registrar and Personnel Affairs Officer, celebrated the cooperative’s milestones. He congratulated the executives on the successful event and urged them to continue upholding fairness and equity. Dr. Osamoka also called on members to give greater support to the cooperative.
Comrade Benjamin Faleye, Chairman of the SSANU FUOYE Branch, assured members that their savings remain in safe hands with the cooperative. He congratulated the executives on their outstanding performance and praised their openness and uprightness.
The executives are: Temitope Adewumi (Humble), President; Mrs. Adesua, Secretary; Mrs. Folasade Micha, Financial Secretary; Mr. Teri Kwambe, Treasurer; and Mr. Nifesimi Ogungbe, Public Relations Officer.
Mr. Afolayan, representing the Ekiti State Ministry of Commerce, equally congratulated the cooperative and its leadership on a successful outing. He encouraged members to sustain their patronage of the society.
Photo credit: Nifesimi Ogungbe
