Abuja — The Independent National Electoral Commission (INEC) Staff Co-operative Multi-purpose Society has declared a surplus income of N34,475,508 for the year 2024, a significant increase from the N21,656,126 recorded in 2023.
The Cooperative President, Nenrot Gana, disclosed this during the society’s 2025 Annual General Meeting (AGM) and election held on Wednesday in Abuja. He explained that the total income for the year was N52,517,734, while expenditure stood at N18,042,225 as of December 31, 2024.
Gana also announced a provision for dividends of N22,017,759 for 2024, up from N12,782,738 in 2023, reflecting a near 100% return on investment for members.
He acknowledged the challenges faced during the year, including inflation and limited resources, but emphasized that the cooperative successfully met the loan and other needs of members. Gana also appealed to INEC management for continued support, particularly regarding the housing scheme loan for members to address accommodation needs.
Following his re-election, Gana assured members of enhanced services, saying,
“We are going to be more efficient, more deliberate, more committed, and more humble in addressing issues affecting members. We will improve on automation of our accounting process, invest smartly, and continue to return huge profits on investment.”
He encouraged staff not yet members of the cooperative to join, noting that many national commissioners and state Resident Electoral Commissioners are already members. Gana also expressed hope that INEC Chairman Prof. Joash Amupitan would become a member, which he said would inspire more staff to join.
In his remarks, Prof. Sani Adam, Chairman of the Health and Welfare Committee at INEC, commended the professionalism and financial prudence of the society’s leadership and pledged the commission’s continued support for the cooperative’s housing scheme project. Mr. Austin Nnadi, Director of Administration, also urged members to collaborate in building a stronger cooperative.
The newly elected executive team includes Agyo Bala, Vice President; Effiong Sunday, Secretary General; Yahaya Mahmoud, Assistant Secretary; Alali Fubara, Treasurer; Onalo Peace, Financial Secretary; Ibrahim Adamu, Internal Auditor; Adegbite Funmilayo, Public Relations Officer; and Pius Martha, Welfare Officer.