INEC SMCS Plateau State Hosts Business Seminar to Empower Members with Financial Literacy and Investment Skills
The INEC Staff Multi-Purpose Cooperative Society (INEC SMCS) in Plateau State held a pivotal business seminar and congress meeting at the INEC Plateau Head Office on Miango Road, Kufang, Plateau State. 7th November, 2024
This event was aimed at strengthening financial literacy, fostering entrepreneurial skills, and promoting sustainable wealth-building practices among its members.
At the heart of the seminar, Mr. Badi Datong, president of INEC SMCS Plateau State, emphasized the cooperative’s commitment to empowering its members. Addressing the attendees, he underscored the importance of financial inclusion, capacity building, and entrepreneurship in helping members navigate the current economic challenges, especially given rising inflation. Datong stressed the critical role of early financial planning to secure a comfortable retirement, referencing the federal government’s recent pension fund borrowing as a reminder of the need for individual self-reliance. He urged participants to make the most of the seminar’s opportunities to gain practical skills, network with peers, and draw inspiration for a financially secure future. Datong expressed appreciation to the Resident Electoral Commissioner and his team for their support and encouraged attendees to adopt a forward-thinking approach to finances.
Hon. Associate Professor Oliver Tersoo Agundu, Resident Electoral Commissioner of INEC Plateau State, also highlighted the need for diligent financial planning, saving, and investing. Commending the cooperative’s leadership for organizing the seminar, Agundu shared his evolving views on financial responsibility. He reflected on the experiences of colleagues who faced financial hardship due to inadequate planning and encouraged the attendees to heed the guest speaker’s advice. According to Agundu, proactive saving and investment habits are crucial for ensuring financial stability in retirement.
A notable segment of the seminar was a presentation by SANLAM Nigeria, under the department of insurance at First Bank Nigeria, which introduced members to future savings packages. This was followed by a paper presentation by Professor Yohanna G. Jugu, who provided an in-depth discussion on the importance of savings and investment, followed by a question-and-answer session to clarify attendees’ queries.
Mr. Gimba Ishaku, former president of INEC SMCS Plateau State, further emphasized financial discipline, urging members to avoid “fake lifestyles” and focus on prudent spending and investing in appreciating assets such as land. Ishaku highlighted a successful land-buying initiative under his leadership, which had significantly increased in value, benefitting cooperative members.
The seminar concluded with the establishment of the Election Committee (ELCOM) for INEC SMCS, where nominated members were introduced, and brief remarks were given by the ELCOM Chairman, Engr. Wakili Tol.
