How to Register Cooperative Society in Edo State
A cooperative society is a voluntary association of individuals, united by a common bond, who have come together to pursue their economic goals for their own benefits. There are various types of cooperative societies in Edo State and generally in Nigeria. The most popular one among them is the multi-purpose cooperative society. The registration of multi-purpose cooperative societies is usually done through various state government ministries, as well as other forms of multipurpose societies.
Cooperative society is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned organization. Cooperative societies are governed by the Nigerian Cooperative Societies Act, which provides for the registration of cooperative societies. The registration of cooperative societies in Nigeria is carried out at the designated cooperative society ministry in various states.
In accordance with the Edo State Cooperative Society laws and regulations, the following are the steps for registering a cooperative society in Edo State:
- An application for registration shall be made to the Director of Cooperatives at the Ministry of Business Trade, and Cooperatives, requesting to be registered as a cooperative society.
- Officials from the Ministry of Business Trade, and Cooperatives shall carry out an inspection of the cooperative society's premises.
- The applicant shall pay the prescribed fees.
- The minimum required members, depending on the category of the cooperative society, must duly sign the application.
- A form is issued to the members to fill in their details and return while a name search is made to ascertain availability.
- Upon availability, a stamp bearing the cooperative's name and logo, along with other documents, shall be submitted for verification and approval.
- After verification, if the Director of Cooperatives is satisfied, a certificate is issued
- A certificate of registration with the certified copy of the by-laws governing the cooperative will be issued.
- Proposed name of the cooperative society.
- Proposed address of the cooperative society.
- The objective of the cooperative society.
- Membership rules.
- Three copies of the proposed by-laws of the cooperative society.
- Letter of consent from all members of the cooperative society.
- Feasibility study on how the cooperative society intends to operate.
- Certified copy of the resolution passed at the first meeting of members with the cooperative officer.
- Official stamp duty of the cooperative societ