COOPERATIVE, THRIFTAND MULTIPURPOSE SOCIETY, THE BEST INVESTMENTAVENUE (A CASE STUDY OF FCE FENACOMS, (OSIELE), (ODEDA), ABEOKUTA)

Abstract

This study aimed at providing people with the benefits derivable from investing in Cooperative Societies in any community we find ourselves. The quest for earning on investment has led a lot of people into various untold bad experiences. Some invested their hard earned income into charming and promising investing entities only to discover that both the principal and promised dividends or returns on investment are lost in transaction The study is a descriptive research and adopted the narrative of non-manipulated variables, which were investigated and analyzed to justify the best investment avenue in Cooperative, Thrift and Multipurpose Societies. The choice of FENACOMS as a case study is as a result of easy assessability to the data requested for the findings. Available findings are the various percentages of dividends actually declared and paid up to five years and beyond. The findings from the records and books of accounts kept by the Executive Managers, the Controlling Agents like the State Director of Cooperatives, College management , as well as the Congress power to scrutinize details of the annual report help in no small measure to confirm the best investment avenue available in Co-operative Societies. The implications of the findings are that Cooperative Societies have come to stay as the best investment avenue considering the nearness of the operatives to each other. Not like some large entities where people invested their shares and cannot trace their operators or have any say while the managing executives grow fatter and the investors grow leaner The study concludes that since human beings are highly interested in generating additional incomes to satisfy their needs, one of the best avenues Co-operative, thrift and Multipurpose Societies; hence, the use of descriptive approach to narrate the findings, which are the proof to being the best investment avenue.