Embrace cashless policy, Lagos govt. urges cooperative societies

The Lagos government has urged cooperative societies to embrace cashless policy through digitalisation to forestall fraudulent practices.

The Provost, Lagos State Cooperative Societies, Mr Akorede Ojomu, stated this at the opening of a five-day training programme for cooperative societies at Agege, Lagos.

Reports state that the training has, as its theme: “Digital Transformation Strategies for Cooperative Societies during COVID and Post-COVID-19 Era.’’

According to Ojomu, cashless policy will help in minimising cash-based transactions and fraud in the administration of cooperative societies.

He said that Nigeria was at the age and stage where effective application of digital technology would prove inevitable to the survival of business entities.

The provost stressed the need for proactive actions that would guarantee the continued existence and growth of cooperative societies.

Ojomu said that the training had become necessary in order to take account of the needs of cooperative societies in the dynamic world of digitalisation.

“The training programme will assist cooperative societies in dealing with challenges posed by the global COVID-19 pandemic, particularly in relation to the increasing use of digital technology in the delivery of business operations and services.

“We must ensure that no stone is left unturned in our efforts at securing the future of our business operations.

“We are resolved to benchmark local cooperative activities with global standards through this capacity building initiative.

“Such initiative will upscale the managerial competencies and skills of cooperators toward the deployment of digital technology and expertise in the exploitation of emerging opportunities in the cooperative business environment,” he said.

According to Ojomu, participants will undergo various sections, including: Data Analysis, using excel application, Cyber Security, Accounting, Entrepreneurship and Understanding Cooperative Business Model.

Others are: Digital Literacy, Business Planning and Control in Cooperative Management and Economic Self-reliance and Digital Transformation Strategy, amongst others.

He implored the participants to take maximum advantage of the training and get the best out of it.

Earlier, the Registrar of the college, Mrs Risikat Osomo, said that the training would help the cooperators improve their skills.

Osomo stated that 100 participants registered for the training programme which, she said, was open to all cooperators across the state.

Reports state that the college was set up by the state government, with the mandate of providing sound cooperative education and high skill manpower for cooperative movement.

It also has the responsibility of providing economic empowerment as a channel for acquisition of appropriate entrepreneurial skills.