The Federal Government has announced plans to clamp down on unregistered and fraudulent cooperative societies as part of a broader initiative to reform and revitalize the sector. The move, led by the Ministry of Agriculture and Food Security, aims to enhance accountability and ensure cooperatives contribute meaningfully to national development.

Speaking at the Technical Strategy Session on the Cooperative Reform and Revamp Programme in Abuja, Minister of State for Agriculture and Food Security, Senator Aliyu Abdullahi, expressed concern over the proliferation of fraudulent cooperatives exploiting unsuspecting citizens.

“We will introduce a new order where cooperatives are not just registered but held accountable for their operations. Many fraudulent entities hide under the guise of cooperatives to defraud people. This has to stop,” Abdullahi stated.

He emphasized that the reform aligns with President Bola Tinubu’s Renewed Hope Agenda, which seeks to foster economic growth, transparency, and job creation.

As part of the reform efforts, the government will restructure the Federal Department of Cooperatives and reposition Federal Cooperative Colleges to improve training and education in the sector. Abdullahi also highlighted the need to adopt successful global cooperative models, particularly in capital mobilization, to enhance financial access for cooperatives.

Director of the Federal Department of Cooperatives, Sani Aliu, reiterated the importance of cooperatives in economic development and called for increased collaboration between the government, private sector, and cooperative societies to drive sustainable growth.

The government’s renewed focus on cooperative reform is expected to create a more transparent and efficient system, unlocking new opportunities for economic empowerment and food security.