HOW TO REGISTER A COOPERATIVE SOCIETY IN ABIA STATE

One of the ways States sustain socio-economic development among citizens is through the formation of cooperative societies. A cooperative society exists to promote the common goals of its members. Registering a cooperative society often involves complying with a list of legal and regulatory requirements. The sector is largely regulated by State ministries and departments under the Cooperative Society law of a given State. It must be noted that the process is similar in many States of the Federation with a few variations. In this article, we will narrow our focus on how to register a cooperative society in Abia State.

In Abia State, cooperative societies are registered and regulated by the Ministry of Trade and Commerce. The Ministry’s current service charter reveals the role of the ministry to regulate the setting and conditions for registration of co-operative societies among its duties, with fees referenced to the Abia State Tax Codification Law.

Basic Considerations for Registering a Cooperative Society

1. Determine the Type of Cooperative Society to Register

There are different types of cooperative societies, most of which can be described through the purpose for which they are being formed. There are as follows:

1. Agricultural cooperative societies
2. Thrift & credit (savings and credit) cooperative societies
3. Housing cooperative societies
4. Multi-purpose (general) cooperative societies
5. Transport cooperative societies
6. Artisan cooperative societies

2. Know the Membership Threshold for Each Type of Cooperative Society

When applying for registration, it is important to know the minimum membership requirements (as applied in practice across Nigerian states), typically are: thrift/credit societies – 20 members; agricultural societies – 50 members; other primary societies- 10 members. These thresholds come from standard cooperative guidance used nationwide.

3. Qualification for Membership

Before applying for registration, ensure members meet these typical conditions, which are commonly required under State practice:

1. Minimum age for ordinary membership: 15 years and above (board/executive members must be 18 years).
2. Members should share a common need or economic interest relevant to the cooperative.
3. Members should be able to buy shares and pay subscriptions required by the by-laws.

4. Prepare the constitution (by-laws) and documents

The constitution or by-laws must set out the objectives of the cooperative, membership rules, shareholding, meeting rules (AGM/EGM), election procedures, duties of officers, audit and financial rules, disciplinary procedures, and dissolution rules.

Preparation of the constitution/by-laws can be handled by your legal team or whoever is handling the registration on your behalf.

How to register a Cooperative Society in Abia State

1. Proposed name of the cooperative
2. Address of the cooperative
3. A brief description of the cooperative
4. Name, phone number, and email of the members
5. Constitution of the cooperative

Procedure for Registering a Cooperative Society in Abia State

• Name availability and reservation — Check that your proposed name is available.

• Complete application — Fill the state cooperative registration form and attach required documents (by-laws, member list, minutes, means of identification).

• Pay the prescribed fees – The application fee is to be administered by the Ministry of Trade and Commerce as provided under the Abia State Tax Codification law. You’re required to provide your State Tax Identification Number to make a payment.

• Submission and or Inspection —  The application forms and attachments are to be submitted to the Ministry, which will then carry out an inspection of the proposed address and verify documents.

• Issuance of Certificate — if satisfied, the Director issues a letter of recognition or certificate enabling you to operate.

Conclusion

Registering a cooperative society requires an understanding of the laid-down requirements and procedures as embedded in the law of the State. To reduce potential mistakes or errors when applying, you may need to engage the services of an expert.

To speak with a consultant about having your co-operative society registered, you may reach out to us by sending an email, WhatsApp message or through the Contact information on this page by clicking this link, and we’ll attend to you.