Revalidate or be delisted, FCTA tasks cooperative societies

The Federal Capital Territory Administration (FCTA) has commenced a comprehensive revalidation and recertification of those domiciled in the Territory in a bid to sanitize the operation of Cooperative societies in the territory.
The FCT has through its Agricultural and Rural Development Secretariat (ARDS), warned that any Cooperative society that failed to be captured in the process would be deregistered and barred from doing business in the FCT.
This is coming against the backdrop of reports of sharp practices and maladministration of businesses of Cooperative societies in the FCT.
It has also noted that stance was necessitated by the urgency to halt increasing cases of sharp practices and abuse in the sector, hencethe need to intervene, in order to ensure efficiency.
While flagging off the exercise, Secretary of Agric and Rural Development Mr.
Stanley Nzekwe, decried the fact that many cooperatives in the territory are enmeshed in sharp practices, which remains highly disturbing to the government.
He submitted that it is now necessary to have the exercise as some executives of the cooperatives have turned property of cooperatives to their personal use.