Effect of Credit Administration and Control on the Development of Cooperative Societies
CHAPTER ONE
Objectives of the Study
The following are the objectives of this study
- To find out the role of credit administration and control in improving cooperative societies
- To determine the extent to which cooperative societies recover loan disbursement to members.
- To find out problems associated with credit administration and control.
- To identify problems and proffer possible solutions.
CHAPTER TWO
Literature Review
Introduction
This chapter contains a review of related literature. The need is to acquaint this reach work with others and for it form the basis for this study. It will therefore review the effects of credit administration and control on the development of cooperative societies through the aid of exiting bodies of knowledge in the subject field in line with the research questions.
Definition of Cooperatives
According to the international cooperative alliance (ICA (1995) cooperative is an autonomous associations of persons united voluntarily to meet their common economic social and cultural needs and aspirations through a jointly owned and democratically controlled enterprise.
Onouha (1978) defined cooperatives as an enterprise whose owners are at the same time the customers and the users of the facilities, goods and services provide. It is governed by equity in social relations and among members. Cooperative are structured in such a way that excludes profit motive in business, provding goods and services to owners users at cost, in spirit of mutuality and self help.
Calvert (1977) gave the definition of operatives as an association where persons voluntarily come together as human being on the basis of equality and equity for the purpose of promoting the economic interest of themselves.
Cooperative by Ogbu (2001) is an association of persons with variable membership who pool themselves and their resources together to form a business enterprise which seeks to solve the socio economic problem of its members by directly providing goods and services at a minimum price.
Ogbuta (1986) defined cooperatives as a voluntarily association of individuals generally belonging to one homogeneous group on the basis of equality for the promotion of their common economic interest.
Having considered all the above definition to be true of a cooperative society depending on the type of cooperative society. It can also be said that person who have voluntarily come together to achieve a common end through the formation of a democratically controlled organization, making equitable contributions to the capital required and accepting a fair share of risk and benefit of the undertaking in which members actively participate.
CHAPTER THREE
Research Methodology
Introduction
This chapter discusses all that the researcher did to collect the data needed for this study. The focus is primarily on the research design, research population, the research instrument used, the presentation of the data, the statistical method used for analysis of data including the various impediment to the progress of the study.
Research Design
The survey research method was used for the study. this method involve gathering data about the target population from a selected sample and generalizing the findings obtained from the analysis of the sample to the entire population. Afolabi (1993). This method was adopted because it enabled the researcher to discover related incidences and distribution on the characteristics of the population.
CHAPTER FOUR
Data Presentation And Analysis
Introduction
This chapter deals with the presentation of data and analysis of data colleted in respect of the effect of credit administration and control on the development of cooperative societies. The data generated is presented using tables.
The researcher uses the responses from the questionnaire. Therefore analysis shall be based on the responses in line with the questionnaire. The responses gotten from the personal interview shall be highlighted in the summary of findings.
160 questionnaires were issued and as at the time of analysis, only 125 were retrieved thereby representing 100% of the total questionnaire administered.
CHAPTER FIVE
Summary, Conclusion and Recommendations
Introduction
This chapter presents the summary of the research work, conclusions drawn from the study and recommendations that could lead to effective implementation of credit administration and control towards the development of cooperative societies.
Summary
This study examining the effects of credit administration and control on the development of cooperative societies with reference to Arewa multipurpose cooperative society and National Board for technical education investment and credit cooperative Kaduna.
The research questions that guided the study were: what is the role of credit administration and control on the development of cooperative societies? To what extent do cooperative societies recover loans disbursement to members? What are the problems of cooperative societies in connection with credit administration and control? What are the possible solutions to ensure the success of credit administration and control in the development of cooperative societies.
Conclusion
Based on the research findings, it is concluded that credit administration and control play a vital role in the development of cooperative societies. Through it’s implementation. It seeks to serve members in an efficient manner and more importantly to ensure safety of funds of the society for continuity and development. There are policies to ensure the recovery of loan disbursement to members which are observed by the credit committee and supervisory committee who then report to the management committee of the society.
Recommendations
The following recommendations are made based on research findings so as to facilitate credit administration and control in societies.
- Polices which are development to guide society should not just be written on paper but should be adhered to strictly and made into practical and concrete here and now decisions established by management and aimed at achieving the purpose of the society.
- The government through the federal Director and state Directors of cooperatives must ensure that only cooperative officials with adequate knowledge and experience of cooperatives should be appointed to inspect and supervise cooperative societies, so that the officials of the society are able to do the job well and serve as caution to management from time to time.
- Societies that are registered solely to get loans can no longer operate when they can no longer obtain the loan. As such only viable societies should be allowed to be registered and benefit from government loan and grants and such societies should engage in profitable ventures and investments to enable them secure funds to carryout the projects and fully achieve their desired objectives.
- Cooperative education is another factor that cannot be overemphasized. Members at all levels of the cooperative society should have or be given cooperative education as requirement for joining the cooperative society so that they have a better understanding of what they are into and be actively involved. This can be achieved through workshop seminars, interactive session with cooperative experts etc.
REFERENCES
- Afolabi, M. (1993): Introduction to Research for Proposals, Projects and Theses, Zaria, Alpha Publishers.
- Chukwu, S.C. (1990): Economics of Cooperative Business Enterprise, Germany Marburg Consult for self promotion.
- Digby, M.C (1970): Agricultural Cooperative in Common Wealth, Basic Blackwell, Oxford, England.
- Ogbu, S. (2007): The Basic Principles, Economics of Cooperative Business, Abuja Homec Global Wuse Zone
- Ogbuta, C.O. (1986): Cooperative Movement and Community Development Associations. Kaduna Cooperative Foundation company Ltd.
- O’Keefee (1973): A Handbook on the History of Cooperative Thrift Movement Union Association, Ibadan.
- Onuoha, E. (1978): The History of Cooperative Movement in Nigeria (1930-1962) Enugu Computer Edge.
- Owojuyigbe, S. (1998): Cooperative Administration and Field work in Nigeria, Ibadan.
- Puri, S.S (1979): Ends and Means of Cooperative Development, National Cooperative Union, India.
- Yahaya, I (2001): Savings and Credit Cooperatives, Kano Nigeria, Munawwar Books International.
