Establishing a co-operative society in Abuja, Federal Capital Territory (FCT), can be a rewarding endeavour, providing members with shared economic benefits and a sense of community.
This comprehensive guide outlines the steps, requirements, and costs involved in registering a co-operative society in Abuja, ensuring that the process is clear and straightforward for potential applicants.
Procedure to Register a Co-operative Society
Apply In-Person
To register a co-operative society in person, follow these steps:
- Visit the Abuja, FCT Co-operative Registration Office:
Head to the Directorate of Cooperative Registration located at the Federal Capital Development Authority Premises, Area 11, Garki, Abuja, FCT.
- Submit an Application:
Prepare an application made by a responsible person seeking registration as a co-operative society.
- Consult the Relevant Authority:
Ask for detailed instructions on submitting the application.
- Pay the Registration Fee:
The fee must be paid before submitting the application, and proof of payment should be included with your submission.
- Attach Required Documents:
Ensure all necessary documents are attached to your application (detailed below).
- Submit the Application:
Deliver your completed application package to the Director General of the Co-operative Society.
- Assessment Process:
The application will be reviewed, and if satisfactory, a Recognition Letter valid for three years will be issued.
- Observatory Period:
After three years, if the society meets all requirements, a Certificate of Registration along with a certified copy of the by-laws will be issued.
Required Documents
- Copy of Resolution(Certified)
- Report of Feasibility Study
- Proposed By-laws(four copies)
- Intent Letter from Future Members
- Proof of Payment
- Supporting Documents(as instructed)
Eligibility Criteria
- Age Requirements: Members must be at least 15 years old. Board members must be at least 18 years old.
- Common Need: There must be a shared need among the members of the society.
- Occupation: For primary societies, each member should have an occupation related to the society’s purpose.
- Financial Capability: Members must be financially able to invest in shares and pay required fees.
- Application Signatures:
Primary Societies: Signed by at least ten eligible individuals.Secondary Societies: Signed by a duly authorised member of each registered society or by at least ten members if the total number of members is less than ten.
Required Information
- Name of the Proposed Society
- Name and Address of the Premises
- Key Objectives
- Plan of Operation
- Financial Plan Particulars
- Rules of Membership
- Banking Particulars
- Bank Account Details
- Names of the Members (at least ten)
- Address Details
- Contact Numbers
- Names of Trustees: President, Secretary, and Treasurer, with their phone numbers
- Passport Photos: One for each trustee
Importance of Registration
Registering a co-operative society is crucial as it provides legal recognition and enables the society to operate within the legal framework of Nigeria.
It ensures that the society can engage in official transactions and enjoy the benefits and protections provided by the government.
Costs and Professional Fees
Registration Fees
- Processing Fee: ₦25,000
Professional Fees
- Professional Services: Ranges from ₦150,000 to ₦250,000
Cost Summary of registering a Co-operative Society in Abuja
| Service | Cost (₦) |
| Processing Fee | 25,000 |
| Professional Services | 150,000 – 250,000 |
Conclusion
Registering a co-operative society in Abuja, FCT, involves a clear procedure and specific requirements.
By following the outlined steps and ensuring all necessary documents and information are provided, you can successfully establish a legally recognised co-operative society.
This process not only legitimizes your operations but also provides a structured framework for growth and collaboration among members.
