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Tackle fraud with technology, Lagos charges cooperative societies


Lagos State government has tasked managers of cooperative societies to be savvy in the deployment of digital technology, as it is critical to the success of their societies, especially in checking fraud.
Speaking at the opening ceremony of a five-day training programme with the theme, Digital transformation strategies for cooperative stability in post COVID-19 pandemic era for 100 participants, Provost, Lagos State Cooperative College, Mr. Akorede Ojomu, stated that at this stage and due to COVID-19, effective application of digital technology might prove inevitable to survival of business entities, hence need to take proactive action that would guarantee continued existence and growth. 
He said the process would minimise fraud incident, because all money has to be paid digitally. 

“Cooperative organisations are unique business entities in terms of their characterisation, most especially as they are not created essentially for profit maximisation but to achieve economic welfare of members. It is thus in the spirit of looking out for each other that the Cooperative College deemed it appropriate to provide this capacity building initiative, knowing quite well that it is what is needed by cooperative societies at this point in time.
“This training programme has thus taken into account, our needs as cooperative societies in the dynamic world of digitalisation, ensuring that no stone is left unturned in the effort to secure the future of our business operations.

“We have, thus, packaged this training programme as part of efforts to assist cooperative societies in dealing with challenges posed by the global COVID-19 pandemic, particularly as they relate to increasing use of digital technology in delivery of business operations and services.

“As a specialised tertiary institution with focus on provision of qualitative cooperative education, Lagos State Cooperative College, driven by its resolve to benchmark local cooperative business activities with global standards, purposes through this capacity building initiative, to upscale managerial competencies and skills set of cooperators towards deployment of digital technology and expertise in exploitation of emerging opportunities in cooperative business environment.”

Ojomu stated that as trustees, managers and members of cooperative societies, it is imperative that they appreciate challenges occasioned by incidence of the global pandemic and its attendant protocols on businesses and how this affect realisation of core business objectives.  
In her remark, College’s Registrar, Mrs. Risikat Oshomo, said the training programme would give all facilitators a level playing ground to stabilise as others, especially now in post-COVID-19 pandemic era.


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Akorede Ojomufraud
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