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©2024 Edo State Government
©2024 Edo State Government
The Ministry of Business, Trade, and Cooperatives is here to empower you to form and manage a successful cooperative society.
Cooperatives allow individuals with shared interests to pool resources, knowledge, and skills to achieve common goals.
They are a powerful tool for community development and economic empowerment.
Application Process:
– Start by holding a meeting where all prospective members agree to register the cooperative.
– Record the meeting minutes officially documenting the decision.
Submit a written application to the Ministry stating:
– Details of your proposed cooperative’s trustees
– Regular meeting location
– List of all members (minimum 10, all above 18 years old)
– Pay the registration fee through the Edo State
– Revenue Administrative System (ERAS).
– Purchase three copies of the cooperative’s bylaws (also paid through ERAS).
Important Note: Cooperatives registered with Edo State must operate within the state’s boundaries.
Verification Process:
After submitting your application, the Ministry will verify the information provided. This includes:
– Confirming the number of members listed.
– Visiting the stated meeting location.
– Validating the intended business operations.
– Once verification is complete and everything is found to be in order, your cooperative will be officially registered, and a certificate will be issued.
Ministry representatives will hold a session to educate your cooperative members on:
– Key principles and guidelines outlined in your cooperative’s bylaws.
– Strategies to improve efficiency and viability.
– Information on potential dissolution (if necessary).
– After this educational session, you will receive your official certificate of cooperative registration.
– One year after registration, the Ministry will conduct an inspection to assess your cooperative’s financial health.
– This inspection includes reviewing your financial records to identify areas for improvement or potential changes in operations.
– An inspection fee is required (payable through ERAS).
– Cooperatives registered before the Edo State name change may need to update their certificates.
– This re-certification process involves applying to the Ministry and paying a fee (paid through ERAS).
– Upon successful re-certification, you will receive a new certificate reflecting the updated state name.
– If your cooperative decides to change its name or any other registered details, you can apply for amendments through the Ministry.
– The amendment process requires a fee (paid through ERAS) and follows a streamlined procedure.
Wondering if a specific cooperative society is registered with the Ministry? You can conduct a search by paying a designated fee (paid through ERAS).
– The Ministry may assign a certified accountant recognized by the state government to audit your cooperative’s financial accounts.
– This audit helps ensure accurate financial reporting and provides valuable insights into your cooperative’s financial health.
The Annual General Meeting (AGM) is a yearly event where representatives from the Ministry and your cooperative members gather.
Key discussions at the AGM include:
– Reviewing your cooperative’s progress.
– Identifying areas needing improvement.
– Dissolving the current executive committee (if necessary).
– Conducting elections for new cooperative leadership (supervised by the Ministry).
– Financial records must be audited by a certified accountant before the AGM date.
– The Ministry offers ongoing training opportunities for cooperative members.
– These training programs help you stay updated on the latest cooperative best practices and relevant regulations.
| S/N | Products | Amount |
|---|---|---|
|
1 |
Registration
|
N20,000
|
|
2 |
Re-certificate
|
N5,000
|
|
3 |
Audit Fee
|
10% of Audit fee
|
|
4 |
Search |
N1,000.00
|
|
5 |
Amendment
|
N5,000
|
|
6 |
Arbitration |
N5,000
|
