AN EXAMINATION OF THE ROLE COOPERATION THRIFT AND CREDIT SOCIETIES TO THE DEVELOPMENT OF URBAN AREA

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• INTRODUCTION
  • BACKGROUND OF THE STUDY
  • OBJECTIVE OF THE STUDY
  • STATEMENT OF THE PRINCIPLES
  • DEFINITION OF TERRMS

This study investigates and examination of the role of cooperative thrift and credit societies to the development of urban area. The study was based on the orphanage mother multipurpose cooperative society. The research reviews the literature of related study and was duly acknowledge data collected through constructed questionnaires methods, comprising members of the study area. Using simple random techniques. The perceptible equations and tabular illustration were used to present data obtained in the study. Result obtained from the study suggested that members of the study area and the public benefit immensely from the activities of cooperatives societies. Hence cooperatives help in providing loans amongst its members.

CHAPTER ONE

1.0      INTRODUCTION

The thrift and Credit cooperative has been formed with intention of improving the standard of living. The thrift and credit society started in Germany under the leadership of Fredrick Ra’ffeisen in the year 1818 who is now regarded as the father of modern cooperative thrift and credit society.

Germany has always been referred to as the cradle of credit cooperative. At that time, the economic condition of Germany was so deplorable and the peasantry and artisans fiet crushed under the heavy weight of indebtedness. Famine was a common phenomenon used as order of the day. The Jews ruled over the market and the poor labourers and farmers had no way out, except to buy articles of their need from them and sales their product to them. The merchants were money lenders changing very high rate of interest for the credit they gave and offered ridiculously prices for the produce they purchased. With the hopeless life of the peasantry, Raiffeisen emerged to help them out of their indebtedness and poverty years, therefore thought out plan for cooperative societies.

Before the advert of modern cooperative society the thrift and credit society serve at urban area, the traditional mutual system is been called and addressed by different name by various communities who practice it inform of traditional form of saving.

The Hausa call it “Adashe” “Bashi” in Nupe “Asusu in Ogogo etoto in Ibibio etc.” The traditional systems of cooperative leaders of the society are elected purely on the agreement of the members, while in modern cooperative.

Cooperative at large, the management committees are elected democratically, and any person contesting for any post must have the question of some vital requirement such as payment of entrance fees, share deposit etc and the member must be voted for any post in the society.

Cooperative thrift and credit society are mainly found among the urban areas, low-income earners, government employees etc. and a good number splitter around is the urban area as well.

1.1   BACKGROUND OF THE STUDY

Thrift and credit cooperative society like other sphere of life has it own problems. It is generally believed that any organization irrespective of its size has problems, if not identified and corrective measures applied is bound to hit the rock,. Cooperative thrift and credit is not left out this philosophy identifying and laying these problems is the primary aim of the write up of this project.

The project is aim at highlighting the obstacle responsible for the show growth of organization, it is also an attempt to highlight the aim and objectives of the organization, it is living up to expectation?

The problems are being highlighted analyzed and possible steps to be taken to alleviate the problems.

1.2      HISTORICAL BACKGROUND OF THE AREA

Modern cooperative thrift and credit has been in existence in early 20’s 2004 to be precisely in orphanage mother multi purpose society. Before then, it was traditionally practiced, low-income earner, petty traders peasant farmers etc. contribute money weekly or monthly, they rotates one after the other which serves as urban development area for its members, and then people have difficulties to secure loan for its members from any financial institution due to the fact that mostly are low income earners, urban areas etc where they have no collateral for security while they normally requested before giving people loan.

But with the establishment of orphanage mother multipurpose in that area, which was established to help people of limited means, which find it difficult to save and secure loan to better their socio economic, encourage, saving and also provide other services to the communities at reasonable rate of interest through application of self help and mutual help which is one of the guiding idea of cooperative.

But most of the people stated with drawing their membership, because they assumed that they only want to dupe and run away with the little money learned due to the fact that the time of establishment there was no emphasis on expansion and diversification of cooperatives thrift and credit in their development plan and there was nobody to educated and enlighten the people about, their aim and objective. So people where complaining that they cannot meet up their needs as a result of non provision of loan for as a whole, lack of proper book keeping and auditing which is due to unskilled personnel, lack of adequate capital and lastly there is also dishonesty and competition among committee members and government which lead to the collapsed of the thrift and credit society.

1.3      STATEMENT OF THE STUDY

Cooperative thrift and credit ensure rapid socio – economic development of urban areas and the community at large

But due to the fact that there wasn’t any serious emphasis on expansion and diversification of cooperative movement in their development plan. Therefore it resulted to low participation of people in cooperative society.

Secondly, it also seems there wasn’t serious encouragement from government to ensure that the people were enlighten and educated in other to joint the cooperative society.

1.4      RESEARCH QUESTION

To carry out this research the following question are put forward to guide the study:

1)  What are the impacts of cooperative thrift and credit has toward the transformation and development of urban area.

2)  How can the cooperative thrift and credit be restructured so as to give the societies at large, maximum benefit?

3)  What are the problems facing cooperatives thrift and credit societies in the urban areas.AN EXAMINATION OF THE ROLE COOPERATION THRIFT AND CREDIT SOCIETIES TO THE DEVELOPMENT OF URBAN AREA

ASSESSMENT OF THE ROLE OF COOPERATIVE SOCIETIES IN POVERTY ALLEVIATION.

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• INTRODUCTION
  • BACKGROUND OF THE STUDY
  • OBJECTIVE OF THE STUDY
  • STATEMENT OF THE PRINCIPLES
  • DEFINITION OF TERRMS

This study investigates the Role of Cooperatives in Poverty Alleviation. The study was based in the Federal Radio Corporation of Nigeria Kaduna Multipurpose Cooperative Society. The research review the literatures of related study and were duly acknowledge. Data were collected through constructed questionnaire and interview methods comprising members of the study area. Using systematic sampling techniques. The perceptible equations and tabular illustrations were used to present data Obtained in the Study. Results obtained from the study suggested that members of the study area and the public benefit immensely from the activities of cooperative societies. Hence, cooperatives help to alleviate poverty amongst its members.

CHAPTER ONE

1.0       Introduction         –        –        –        –        –        –        –        –        1

1.1    Background of the study      –        –        –        –        –        –        5

1.2       Historical background of the study area          –        –        –        –        6

1.3       Statement of the Problem    –        –        –        –        –        –        7

1.4       Objective of the study           —       –        –        –        –        –        –        8

1.5       Significance of the study      –        –        –        –        –        –        9

1.6       Research Question     –        –        –        –        –        –        –        10

1.7       Scope of the study      —       –        –        –        –        –        –        11

1.8       Operational Definition of term       –        –        –        –        –        11

CHAPTER TWO: Literature Review

2.1       Introduction         –        –        –        –        –        –        –        –        13

2.2    Cooperative Development Exposure     –        –        –        –        16

2.3    Poverty      –        —       –        –        –        –        –        –        –        17

2.4       Nigeria’s Poverty Situation   –        –        –        –        –        –        18

2.5       Poverty Alleviation in Nigeria         –        –        –        –        –        20

2.6       Cooperative A tool for Promoting Desert

Work and reducing poverty  –        –        –        –        –        –        23

CHAPTER THREE: Research Methodology

3.1       Introduction         –        –        –        –        –        –        –        –        28

3.2       Research Design        –        –        –        –        –        –        –        28

3.3       Population Sample      –        –        —       –        –        –        –        28

3.4       Sample size        –        –        –        –        –        –        –        –        29

3.4.1 Justification for the sample size    –        –        –        –        –        29

3.5       Sample Technique      –        –        –        –        –        –        –        29

3.5.1  Justification for the sampling Technique        –        –        –        –        30

3.6       Research Instruments –        –        –        –        –        –        –        30

3.7       Method of Data presentation and statistical analysis –     –        30

3.8       Limitations of the study        –        –        –        –        –        –        –        31

CHAPTER FOUR: Data Presentation And Analysis

4.1       Introduction         –        –        –        –        –        –        –        –        32

4.2       Presentation Analysis Based on respondents bio data    –        32

4.3       Data Analysis Based on questionnaire –        –        –        –        35

CHAPTER FIVE: Summary, Conclusion and Recommendation

5.1    Summary   –        –        –        –        –        –        –        –        –        44

5.2       Conclusion         –        –        –        –        –        –        –        –        45

5.3       Recommendation        –        –        –        –        –        –        –        46

Reference –        –        –        –        –        –        –        –        –        48

Appendix I –        –        –        –        –        –        –        –        –        49

Appendix II         –        –        –        –        –        –        –        –        –        50

CHAPTER ONE

INTRODUCTION

From the beginning of mankind, man has been engaged in a continuous battle to liberate himself from the shackle condition of life called poverty. Consider the following situation.

1. A destitute is begging for alms at Public Park to buy food from a nearby food stand.
2. A young university trained professional lost her job a few months ago and her bills are mounting because she is still employed.
3. An investor is unable to pay his children’s school fees this semester because his expected earning from investments did not materialize.
4. A millionaire needs to take tranquilizer every night because he cannot sleeps without them.

Which of these four people would you consider poor? A is both income poor and socially deprived. B may not be socially deprived. Being well educated but she is income poor, being educated but she is income poor, being out of employment. C is cash poor, but only for a short time because he can convert has investment into cash if necessary. D is not poor by any material standards but he is spirit poor because money cannot buy him a sound sleep.

In general, a discussion of poverty as a socio – economic issues is limited mainly to the situations covered in A and B above. But cooperative’s pride themselves as “enterprises” with a soul” will target all four cases.

The definition and measurement of poverty can be quite elusive. It varies from place to place and from time to time. Poverty is a condition of life so degraded by disease, illiteracy malnutrition as it denies the basic human necessities. It is therefore difficult to give a precise definition of poverty. But the poor society in terms of their economic, cultural Social and psychological condition. In an attempt to attack this chronic disease (poverty) the basic problems of development should be redefined as a selective attack on the worst form of poverty.

Developmental goals must be defined in terms of the progressive reduction and eventually elimination of malnutrition, diseases, illiteracy, unemployment and inequality. Once again the relationship between poverty and development is clear. Where there is abundant poverty there is little or no development. After all, the process of development itself is geared towards the elimination of poverty and inequality in order to give room for a better life for mankind.

Cooperatives societies which is primarily to alleviate poverty among people because the purpose of incorporating the society is to meet the common felt needs of the members and the general public on social and economic needs as well as cultural aspirations of the individual thereby complementing the efforts of the government towards the alleviation of poverty in the society. Cooperatives is aimed at receiving the policies towards alleviating of poverty in the society in terms of their economic, cultural, social and psychological condition of both members and the general public. Over the years cooperatives has made efforts in reducing the poor standards of living of the poor masses in the society. Hence the importance of Cooperatives towards the alleviation of poverty can not be over emphasized; it can be summarized in the following succeeding lines:

1. Cooperatives encourage the poor in the society to save little money that may be encountered, so that they can conveniently solve the problems.
2. Cooperatives create/open up viable avenue for the less privilege to benefit from government and any other credit outside their places of work in order to enable them solve immediate problems and other top benefit from them.
3. Stimulation of economic growth through the engagement of semi skilled and unskilled labour in productive activities.
4. Minimizing rural – Urban drift through the improvement of rural communities.
5. Empowering the environment to arrest environmental deregulation.

Programme activities and strategies to achieve the objectives of cooperatives towards alleviation of poverty include.

1. Cooperatives are trying to reduce the alarming rate of poverty through the provision of goods and services at a cheaper cost for the common average man to afford.
2. Cooperatives help to prevent exploitation of the less privilege. By organizing workshop/seminars to educate areas that are yet to develop in terms of education, inadequate health centers, inadequate companies to work for their daily wages in order to better their lives and reduce the rate of poverty in the society.
3. Empowering women and men to participate in decision that affect lives and that enables them to build their strengths and assets.

1.1    BACKGROUND OF THE STUDY

Nigeria like other developing countries have done a lot in terms of improving the standards of its citizens through the provision of employment, shelter, food supplies, basic infrastructural facilities, good education system and a conducive political and socio – economic environment. Of all these deep-rooted social and economic ills, the most frightening is poverty, it is alarming because it’s capacity of learning all social fabric and social values. Consequently, all attempt made to reduce poverty cannot be improved.

Nigeria, since independence has been battling on how to reduce poverty on its citizenry. In this regard, programmes, agencies. And a mission were drawn, instituted and formed to address this ugly issue or hydro – headed monster (poverty). We are all aware of the philosophies behind regional areas like the Northern Nigeria Development Cooperation (NNDC) Western Nigeria Development Cooperation (WNDC) and Eastern Nigeria Development Cooperation (ENDC).

All these cooperation were constructed for the purpose of giving soft loans for the developmental projects and other employment opportunities to the respective regions from the federal government and from the limited sources of their respective regional areas.

The introduction of cooperatives societies in Nigeria came about through the feasibility study of Mr. Strickland in his reported submitted in 1933 when the Nigeria government realized the significance of cooperative. This resulted to the formation of cooperative. Inspite of all these cooperation, agencies and societies have proved to be very potent in reducing the level of poverty in our society.

1.2       HISTORICAL BACKGROUND

Federal Radio Corporation of Nigeria (FRCN) Kaduna Multipurpose cooperative society was formed primarily to promote the general economic interest among its aimed at providing cash, kind and loan for necessary productive purpose with society as a means of income and with a reasonable convenient term of repayment. The multipurpose cooperatives society is formed to promote cooperatives spirit among its member and to work for the general improvement of the members living standard.

The cooperative society (FRCN) also engages in any meaningful business ventures or trading. Activities outsides the cooperative society so as to enhance the earnings of the society.

Finally federal Radio Corporation Radio Corporation multipurpose  cooperative society was formed to encourage the development of cooperatives movement in Nigeria

1.3    STATEMENT OF THE PROBLEM.

Poverty as a figure disturbing the people or society are due to the fact that all governmental schemes to alleviate poverty has not been shown in the study area.

The unemployment situation in the society is at the increasing rate among the people due to the limitation of cooperatives awareness in the society. The people fail to know or understand what cooperative really means or is taking about. Due to the high population of Nigeria, which impose the problems of poverty as to no job opportunities in the societies.

Again despite all the effort of poverty alleviation by the cooperatives movement, there are obstacles that hinder people from participating and enjoying these economic developments. Such obstacles are: lack of adequate cooperative education or awareness and enlightenment amongst the populace as such people respond to cooperative movement very poor. Those who are actively involved in this movement of the cooperatives do not also fully enjoy the economic aspect of the movement, which is the foremost objective of cooperative. This is because of the lack or inadequate cooperative knowledge of its members. Also improper management by committee members of different societies.

This research work, will examine ways of solving the set aside problems that hinders the full participation and   enjoyment of the cooperative movement activities by its member, towards poverty alleviation and the betterment of their social –economic activities.

1.4    OBJECTIVES OF THE STUDY

The objectives of the study are to find out whether cooperative societies can help in the alleviation of poverty. It is also an objective of the study to make comparison on findings from this exercise with previous studies on the same research topic, Again, the objective of the study is to examine if all cooperative principles is best applied in the cooperative societies.

It is equally an objective of the study to examine the extent of people’s involvement in cooperative particularly in the rural areas.