How do I register a Multi-purpose co-operative Society in Lagos State.

How do I register a Multi-purpose co-operative Society in Lagos State.

September 09, 2019

A Co-operative can be defined as “an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.

Just like the name implies, a Multi-purpose Co-operative is a type of co-operative registered to achieve multiple objectives.

In Nigeria, every co-operative society is expected to be registered. In Lagos State, the Ministry for Commerce and Industry is responsible for this. Under the Ministry there is a department vested with the duty to register co-operatives.

To register a Multi-purpose co-operative, the first requirement is to choose for a name which would be checked for availability before it can be registered and after which the proposed address of the co-operative, this is important because it will help determine the place of registration and co-operatives are registered in the Zone in which it is to be located. For instance, you cannot register a co-operative to be operated in Lekki in the Ikeja district of the state.

Another important process is to fill the application form, this form is usually gotten from the office in charge of registering co-operative in a particular zone. The Form must carry the name of three nominated executives, most likely the chairman, secretary, treasurer and all members, listing their particulars which includes names, addresses, phone numbers, valid identification card and emails. It is imperative to note at this point, that a multi-purpose co-operative society requires 20 members including the executives before it can be registered. Also, the objectives of the co-operative must be clearly outlined.

The registration/inauguration of a co-operative requires at least three members of the co-operative to undergo a training which would be carried out by the zone under which the registration is to be carried out.

A compulsory meeting of at least three times must be carried by the members of the co-operative and this will be supervised by an official of the zone under which it would be registered.

This process can take up to three months before the Co-operative society can be registered and a certificate will be issued by the Lagos State Ministry of Commerce and Industry on the recommendation of the Zone in which it would be registered.

For further information or any assistance you may require concerning the above registration process, log on to our website on www.618bees.comor call us on 09017190079. We ar available to render fast, reliable and affordable service to assist you with the process.

 

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached

More Articles

Search

Connect With Us

Got any questions?

If you are having any questions, please feel free to ask.

Send us an email

Frequently Asked

  • Why must I file Annual Returns?

    It is a mandatory statutory requirement under the Companies and Allied Matters Act to file Annual Returns yearly. 

  • What’s the difference between a business name and an LLC?
    • A business name is a sole proprietorship, usually owned and managed by one individual only. Legally, the sole proprietor and his business are one. It simply means an individual trading with an alias. The sole proprietor is personally liable for all business related obligations.

    • A limited liability company on the other hand is a separate business entity from the individuals that hold its shares and act as directors. Legally, it’s a separate business entity and a person on its own who can transact business, own property separate from its owners and can sue or be sued. 

  • What is a testimonium clause in an agreement?

    This is the part of the agreement where the witness attests to have witnessed the execution of the agreement.

  • Is there a penalty for late renewal of registration of products with NAFDAC?

    Yes, there is a late renewal fee, which is dependent on the category of the product.

  • Can I use the data collected legally for one purpose for another purpose?

    No, you can’t use the data collected for one purpose for a different purpose.

  • How long does a trademark registration in Nigeria Last?

    Trademark is valid for seven years from the date of application but you may renew the application for the trademark for an additional period of 14years.

  • Do I have to physically drop off my product sample at NAFDAC office?

    No, you can choose to have it sent to NAFDAC office

  • How many directors do I need to start a company?

    A minimum number of two (2) directors is required to form a company.

  • Does a trademark search automatically reserve my trademark name?

    No, a trademark search does not automatically reserve that which is sought to be trademarked. A search ascertains whether that which is sought to be trademarked is available or violates any existing trademark.

Call Us Now on +234 901 719 0079 Whatsapp icon Chat on WhatsApp