As Nigeria grapples with economic turbulence, the role of cooperative societies has never been more crucial. With over 400,000 cooperatives contributing approximately ₦1.4 trillion to the nation’s GDP, these institutions have emerged as lifelines for the lower class, especially where traditional banking systems fail. Among them, GGM Cooperative stands tall, championing financial freedom and economic empowerment through innovative models and strategic partnerships.
A Vision Rooted in Empowerment
The visionary economist and President of GGM Cooperative, Anaenugwu Ndubuisi, has dedicated years of research to building group wealth. His insights into Nigeria’s Co-operative Societies Act 98 of 2004 inspired the creation of GGM Cooperative—a movement designed to lift ordinary Nigerians out of the “rat race” for survival. Partnering with BVI Channel 1, a revolutionary online media platform, GGM Cooperative is delivering financial education, discipline, and practical savings strategies to its members.
“While the elites thrive, the masses face economic strangulation. GGM Cooperative exists to reverse this narrative, teaching the ordinary people how to generate wealth and secure their financial future,” Ndubuisi stated passionately.
A Challenging Economic Climate
2024 will be remembered as one of Nigeria’s most economically challenging years in decades. With the naira’s floating exchange rate, the removal of electricity and fuel subsidies, and skyrocketing operational costs, businesses across the country struggled to stay afloat. Yet, amid these challenges, GGM Cooperative achieved remarkable success, thanks to prudent financial management and near-zero operational costs.
From its financial report, the cooperative witnessed significant growth:
Membership increased by 29, from 54 in 2023 to 83 in 2024.
Capital investment surged from ₦2.6 million to ₦15.8 million.
Isusu contributions jumped from ₦1 million to ₦10 million.
Earnings from deposits and loans rose from ₦751,300 to ₦3.4 million.
Although dividends saw a slight decline—₦1,571 for capital investments and ₦666 for isusu contributions compared to 2023 figures—this was attributed to delays in mobilizing contributions and the unstable economic environment. Despite this, members expressed confidence in the cooperative’s strategy to safeguard deposits and position for future opportunities.
Celebrating Success and Community Impact
GGM Cooperative ended the year on a high note, combining financial success with a heart for community service. As part of its corporate social responsibility, the cooperative visited Tender Love Orphanage, sharing love and distributing gifts to the children.
During the end-of-year event, members applauded the management team for their sound financial stewardship. Festivities included food, drinks, and awards to recognize outstanding contributions:
Chinedu Asuzu was honored as Ambassador of the Year.
President Anaenugwu Ndubuisi received a standing ovation for his exemplary leadership.
Building a Better Tomorrow
GGM Cooperative’s growth in 2024 is a testament to the power of collective effort and sound management. By navigating economic challenges and empowering its members, the cooperative continues to lay a solid foundation for financial independence and prosperity.
To learn more or join the movement, contact GGM Cooperative at ggmcooperative2021@gmail.com or call 08104207522.
GGM Cooperative is more than a financial institution — it’s a beacon of hope, lighting the way for a brighter future for all Nigerians.