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This research examines Financial Management and Survival of Cooperative Societies in Nigeria with special reference to Yaba College of Technology Cooperative Society.

The research employed survey research design. Data were sourced majorly by primary means. The data were gathered with the aid of a well-structured questionnaire. 200 members of Yaba College of Technology Cooperative Society were randomly selected for the survey. The data gathered were presented on table using percentages and frequencies. The formulated hypothesis was tested using a chi-square. Conclusion drawn from the study is that, Cooperative societies can only survive with efficient financial management. From the findings, it was discovered that cooperative societies fund can be effectively managed if the necessary tools required for proper financial management are put in place. It was also deduced that the funds generated can be monitored by keeping adequate financial record.

Analysis also shows that contributions of cooperative help in improving the standard of living of the members and this really explained the relevance of cooperative societies to the Nation at large.



1.1        Background of the study

1.2        Statement of problem

1.3        Objective of the study

1.4        Research Hypotheses

1.5        Significance of the study

1.6        Scope and limitation of the study

1.7       Definition of terms

1.8       Organization of the study




3.0        Research methodology

3.1    sources of data collection

3.3        Population of the study

3.4        Sampling and sampling distribution

3.5        Validation of research instrument

3.6        Method of data analysis



4.1 Introductions

4.2 Data analysis


5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation




1.1              BACKGROUND OF THE STUDY

Cooperative Societies are found throughout the Word. They are found in capitalist countries, in socialist countries as well as in countries described as mixed economist existing and functioning as an integral part of the whole economy. The history of cooperative society could be traced as far back as the dark-ages when they used to exist and still in existence; Esusu, Aro e.t.c in Nigeria. Onyemachi (l983) said the history of modem cooperative could be traced to 1844 in Rockdale Concashine in England. He said it was on as October 1844, that the society was registered under the same name; The Equitable Society of Rockdale.

In starting a cooperative society, a number of at least ten persons is required in the case of primary society and for secondary society to be registered, it must has primary societies as it members, that is made possible by the Nigerian Cooperative Society Decree 90 of 1993.After registration, the duties and privileges of a registered society is expected to be presented with the registration application, this power and privileges are made in form of by-law which will have all necessary and desired regulations which dictates the code of conduct of its activities in line with the purpose of its establishment. Cooperative society is the commercial effort by people living in a community engaged in same trade, occupation or effort at assisting one another to improve on their economic output through the contribution of money into a common pool which is then distributed according to their pre­determined sharing formula.

Cooperative Society could also be defined as the voluntary organization of consumers into a society, controlled as possible for the purpose of supplying their immediate needs by observing definite and generally accepted rules of action. The international Labour Organization(ILO) defined cooperative society as "an association of person usually of limited means who voluntarily, democratically come together to achieve a common economic and social objective of its members by making equitable contribution to the capital required and accepting a fair share of the risks benefits of the undertaking". As can be seen from the definition above member of cooperative society must join voluntary i.e without any coercions or force but should join by their own volition and willingness, the cooperative favours the doctrine of equal rights, benefits and opportunity for all vested in a management committee or board of directors but in the general meeting of members. All members of cooperative pursue identical society and economic interest to achieve a common goal and such, all members share in risks and benefits, benefits in the form of patronage rebate i.e a share of surplus and risks by forfeiting the capital contributed in event of winding up. Equitable contribution that does not permit overwhelming percentage of the total is required i.e just reasonable and modest contribution by all members. All over the world, cooperative society could be in form of agricultural cooperative, marketing cooperative, consumer cooperatives, fishermen, artisan, informal, thrift and credit cooperative.

For the purpose of this study, the financial management and survival of cooperative society in Nigeria with respect to Yaba college of Technology as a case study is studied and examined.


This research work is channel towards exposing the problem facing the management and survival of cooperative society. Cooperative Societies spring up day in day out in Nigeria but many of them do not stand the test of time due to one factor or the other. Also, cooperative society without the legal backing of the organization or institution of its existence die as a result of transfer, death, corruptive attitude, insolvent state, retrenchment and other of the financial members. The purpose of cooperative societies in many organizations today is deviating from the instituted reason of the establishment. Also, most of the cooperative societies are not in accordance with the stated recommendation, rules and regulations that established the concept. Today, as a result of restructured of financial banks in Nigeria caused a lot of mergers amongst banks and the place of communities banks were nearly eradicated. They also were to follow a set of procedure in affiliation with one commercial bank. Activities of some of them now are synonymous with the idea and practice of cooperative societies with respect to their daily, weekly and monthly donations of individual or retailers and wholesalers. The question is that "Is present Microfinance Banks the same with the initiated cooperative society or taken over its functions?" There is need to differentiate and compare their activities, roles and functions in societies in relation to the past and present.

1.3              OBJECTIVE OF THE STUDY

The objectives of this work include;

1.   To analyse the financial management of the available funds in the account of cooperative society.

2.   Examine the Strategic allocation of both excess and idle fund. Identification of debt recovery step component and procedures.

3.   To do an analysis of various sources of funds of cooperative societies.

1.4              RESEARCH HYPOTHESES


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