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About Us

ABOUT NLNG STAFF BONNY COOPERATIVE INVESTMENT AND CREDIT SOCIETY LIMITED

The NLNG Co-operative Society was registered on the 28th of August, 2003 as an independent association of Nigeria LNG Limited staffs united voluntarily to meet their common economic and social needs and aspirations through a jointly owned and democratically controlled enterprise.

The Co-operative is a unique business democratically run by members. Members of the Management Committee are elected by the members and they have a two year tenure. In turn, the strength and commitment of our membership is vital in helping us achieve our goals. Simply put, the more we are, the more resources we can pool together to achieve whatsoever goal we have set out to achieve. The NLNG Co-operative is run on the FUBU principle – For Us By Us. We run our activities the way we want it.

In other words, the Co-operative is in business to provide members with needs of common interest, liaising with the external parties concerned and bringing the products and services to the members at a competitive market rate. Also instead of blindly chasing profits, we take into cognizance the interest of our members first before business actions are taken.

There are financial commitments to being a member of the Co-operative. It is expected that every member registers by buying equal number of shares like every other member of the co-operative, pays a registration fee and saves a minimum of NGN 30,000 monthly.

The Co-operative Society is also a financial institution that exists to provide its members with a way of saving - offering an annual dividend on shares and also offering an annual interest on cumulative monthly savings. The Co-op is also able to offer loans to members at a very discounted rate compared to the market.Our financial year ends on December 31st of every year.

Who we are

The NLNG Co-operative Society is an independent association of Nigeria LNG Limited staffs united voluntarily to meet their common economic and social needs and aspirations through a jointly owned and democratically controlled enterprise...

Values

The NLNG Staff Co-operative Society is established based on the following values:

  • Self Help – We help people to help themselves
  • Self Responsibility – We take responsibility for, and answer to our actions.
  • Democracy – We give our members a say in the way we run our operations
  • Equality – No special privileges. Egalitarian by nature. No matter how much money a member invests in their saving account or the position they hold in the MC, they still have one vote and can only get whatsoever every other person can get.
  • Equity – We carry our business in a way that is fair and unbiased according to the demands of our members.
  • Caring – We are always there for our members and their utmost interest is our common vision.

 

COOP NEWS/INFORMATION


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