Kaduna, June 18, 2026 — The Federal Government has intensified efforts to raise N200 billion in share capital from cooperative societies across the country as part of plans to establish the proposed Cooperative Bank of Nigeria.
The Minister of State for Agriculture and Food Security, Senator Aliyu Abdullahi, made this known on Thursday in Kaduna during the North-West Zonal Stakeholders’ Engagement on the Cooperative Bank share capital drive and the sector’s digital transformation initiative.
He explained that the mobilisation exercise is being reinforced by a nationwide digital reform agenda designed to improve efficiency, accountability, and governance within the cooperative system.
According to him, the administration has introduced the National Cooperative Digital Architecture Platform under the Renewed Hope Cooperative Reform and Revamp Programme.
The platform, he said, will host a centralised digital registry for cooperative societies and their members, enabling better data management and oversight across the sector.
Abdullahi added that the system will assign a unique Cooperative Verification Number to registered societies, while individual members will be issued a Cooperative Identification Number to streamline identity and participation.
He noted that the verification system is designed to eliminate fake or inactive cooperatives, improve transparency, and expand access to government and financial support schemes.
“With the Cooperative Verification Number, we will strengthen regulation, reduce irregularities, and ensure that only genuine cooperatives benefit from available opportunities.
“Members will also have a unique identification system that supports financial access, accountability, and integration into the digital economy,” he said.
The minister further stated that the digital framework will be integrated with national identity databases and supported by a cooperative credit reporting system to enhance trust and reduce lending risks.
He stressed that poor data management has long hindered investment, planning, and financial inclusion within the cooperative sector.
He added that the reforms are expected to strengthen institutional credibility and support the long-term sustainability of the proposed Cooperative Bank.
Representing the Kaduna State Government, the Commissioner for Agriculture, Murtala Dabo, said digital transformation within cooperatives would significantly boost agricultural productivity, expand financial access, and support rural development.
He disclosed that the state had already expanded financial inclusion efforts by opening over 2.5 million accounts for previously unbanked residents and enrolling more than 100,000 smallholder farmers in crop insurance programmes through digital systems.
The President of the Cooperative Federation of Nigeria, Mrs. Hannatu Mershak, also welcomed the initiative, noting that digitisation would improve record-keeping, transparency, and trust in cooperative operations nationwide.
In a related remark, the Provost of the Federal Cooperative College, Kaduna, Dr. Mohammed Awwal, reaffirmed the institution’s readiness to support ongoing reforms through training, research, and capacity-building programmes.
The engagement ended with renewed commitments from stakeholders to support reforms aimed at strengthening cooperatives and advancing financial inclusion across the country.