The Federal Government on Thursday unveiled plans to raise N200bn in share capital for a proposed Cooperative Bank of Nigeria as part of efforts to strengthen financial inclusion, support farmers, artisans and small businesses, and reposition the cooperative sector as a key driver of economic growth.
The disclosure was made during the North-West Zonal Engagement of the Ministerial Advocacy Tour on the Cooperative Bank of Nigeria Share Capital Mobilisation and Cooperative Sector Digitalisation Drive held at the Umaru Musa Yar’Adua Hall, Kaduna.
Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Senator Aliyu Abdullahi, said the proposed bank would serve as a major pillar of the Federal Government’s Renewed Hope Cooperative Reform and Revamp Programme aimed at boosting financial inclusion, agricultural productivity and enterprise development.
Abdullahi said the government planned to mobilise at least 10,000 cooperative societies nationwide to collectively
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