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Published On: Thu, Feb 8th, 2018

ATBUTH staff cooperative society disburses N431m loans to members

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From Ahmed Kaigama, Bauchi

The Abubakar Tafawa Balewa University Teaching Hospital (ATBUTH), Bauchi, staff multi purpose cooperative society has stated that it disbursed the sum of over N431 millions to the staff of the hospital as loans in the last three years.
The outgoing chairman of the society Nuhu Malam Nuhu stated this yesterday during the annual general meeting /elections of new leaders of the group held at the hospital.
According to him, the society gave out N71 millions, N84 millions and N275 millions as loans to members in 2015, 2016 and 2017 respectively.
He noted that the society was established since 2012 with the objective of assisting members who are in need with loans so they pay installmentally with low interests adding that members pay monthly contributions to the group from their salaries and receive commissions on periodic basis.
He said: “As part of the innovations the present EXCO come up with with, is the introduction of shareholding to all members. The wisdom behind it is for every member to benefit from the dividends accrued as opposed the former practice where only few members benefitted. As such, we are able to raised up to N35, 550, 000 as share capital.”
Earlier, the Chief Medical Director of the Hospital, Dr Alkali Mohammed, commended the society for its activities assuring that management would continue to support it whenever the need arises.

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