The Executives of Covenant University Multipurpose Cooperative Society (CUMCS), led by the newly elected President, Professor Anthonia Adeniji, have expressed gratitude to the management of Covenant University for the support it has provided the society since its inception.
Professor Adeniji made this known during a courtesy visit by the leadership of the society to the university management recently. She said the executives of the society decided to visit the University leadership and solicit the same level of support previous leadership of the society has enjoyed from management, noting that the society under the present leadership will be operating an open-door policy and be ready to welcome advice from management towards delivering to the expectations of members.
Professor Adeniji spoke on the readiness of CUMSC to support members in developing landed properties that have been acquired while noting the need to review the constitution of the society and highlight a policy shift that will guide residents of the properties when fully developed.
She noted that there was a need for CUMSC to work closely with the university management towards retrieving outstanding loans taken by former members who have since left the services of the society so that a repayment plan can be worked out before the release of their severance packages and gratuities.
In his response, the Vice-Chancellor, Professor Abiodun H. Adebayo, expressed excitement at having to meet and interact with the leadership of the society, noting that the CUMSC's survival these past 17 years is a testament to the quality of leadership that has managed the affairs of the society.
The Acting Registrar, Mrs. Regina Tobi-David, said the society should follow her laid-down rules and procedures as they pertain to debt recovery. She said while the system has access to the funds of those that have existed, the body should also liaise with the guarantors of the recipients, as it will go a long way in ensuring that people’s investments don’t go down and at the same time ensure that guarantors remain in touch with the applicants and beneficiaries of the loans.
Professor Adebayo said CUMSC is not just about survival; the commensurate growth the society has experienced shows the level of astute leadership it has enjoyed over the years, and as a result, the University management will always be ready to work with her for the overall good of its members.
The Vice-Chancellor said CUMSC’s impact cannot be overemphasized, taking into consideration the cushiony economic relief it has availed members during the current economic climate in the country.
Professor Adebayo, who received the executives of CUMSC in the company of the Director Financial Services, Pastor Olugbenga Kiki, and Director, Vice-Chancellor’s Office, Professor Omotayo Osibanjo, assured them of the readiness of management to partner with them so that anyone who has exited the system with loans to settle with the society will be sorted using available tools within the financial system of the University.