The Federal Government has launched a ₦200 billion share capital mobilization campaign to establish the proposed Cooperative Bank of Nigeria as part of the Renewed Hope Cooperative Reform and Revamp Programme (RH-CRRP).
The initiative was unveiled by the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Senator Dr. Aliyu Sabi Abdullahi, during the North-West Zonal Engagement of the Ministerial Advocacy Tour at the Umaru Musa Yar’Adua Hall in Kaduna on Thursday.
According to the Minister, in a statement by the Head, Department of Information, Ezeaja Ikemefuna, the campaign aims to mobilize investments from 10,000 cooperative societies across the 36 states and the Federal Capital Territory through a structured contribution plan.
Under the arrangement, 1,000 societies are expected to contribute between ₦21 million and ₦50 million each, 3,000 societies between ₦16 million and ₦20 million, while 6,000 societies will contribute between ₦1 million and ₦15 million.
Abdullahi said the initiative is designed to create a strong, sustainable and nationally owned financial institution capable of supporting agricultural development, enterprise growth, financial inclusion, housing, transportation, value-chain development and wealth creation for millions of Nigerians.
“This programme is not a government project imposed from above. It is a movement-driven reform agenda that seeks to give life to aspirations that cooperative stakeholders have expressed for decades,” he stated.
To ensure continuity beyond the current administration, the Minister disclosed that the Ministry has established an Inter-Ministerial Technical Committee for policy coordination and a National Steering Committee comprising Ministries, Departments and Agencies (MDAs), apex cooperative organizations and development partners. Dedicated desk officers have also been assigned to each of the seven strategic pillars of the RH-CRRP.
He explained that the ownership structure of the proposed Cooperative Bank would preserve cooperative control while attracting strategic investment.
Under the arrangement, 65 percent of the bank’s equity will be owned by cooperative societies through the Cooperative Trust and Investment Society of Nigeria (CoopTrust), 30 percent will be available to institutional investors, development finance institutions, impact investors and individual cooperators, while five percent will be reserved for employees under a Share Ownership Scheme.
The Minister also announced plans to deploy the National Cooperative Digital Architecture Platform (NCDAP) to address data management challenges within the cooperative sector. The platform will include the National Cooperative Smart Registry (NCSR), Cooperative Verification Number (CVN), CoopID and the CoopCHECK Credit Bureau powered by CreditRegistry.
“We cannot build a modern, globally competitive cooperative economy using outdated analog systems,” Abdullahi said.
Highlighting the historical significance of cooperatives in Nigeria’s economic development, the Minister recalled how cooperative societies contributed to the growth of the groundnut, cotton, hides and skins industries in Northern Nigeria, as well as cocoa and palm produce production in the western and eastern regions of the country.
He urged the Cooperative Federation of Nigeria, state federations, unions, cooperative societies, development partners, traditional institutions and financial institutions to mobilize support for the programme.
The Kaduna engagement follows an earlier South-West Zonal Engagement held in Lagos and forms part of a nationwide advocacy tour aimed at promoting the RH-CRRP.
Abdullahi commended Kaduna State Governor, Senator Uba Sani, for sustaining the state’s reputation as a centre of commerce, agriculture, education and innovation, noting that ongoing efforts in security and social inclusion would provide a conducive environment for the programme’s success.
He also praised the Provost of the Federal Cooperative College, Kaduna, Dr. Mohammed Awwal, for organizing the Cooperative Education for Sustainable Development Summit 2026, scheduled to hold from June 18 to 19 in Kaduna.
Representing Governor Uba Sani at the event, Kaduna State Commissioner for Agriculture, Hon. Murtala Dabo, described cooperatives as vital instruments for socio-economic development, noting that they have historically facilitated savings mobilization, access to credit, enterprise development, agricultural production and community empowerment.
He added that as Kaduna State advances key initiatives such as the Special Agro-Industrial Processing Zone (SAPZ), Agricultural Quality Assurance Centre (AQAC), agricultural mechanization programmes and climate-smart agriculture projects, digitally enabled cooperatives will play a critical role in driving productivity, competitiveness and prosperity.
In his welcome address, Provost of the Federal Cooperative College, Kaduna, Dr. Ibrahim Mohammad Awwal, said Kaduna’s selection as host of the engagement was both symbolic and strategic, given its longstanding role in cooperative education, research and institutional development in Northern Nigeria.
Also speaking, President of the Cooperative Federation of Nigeria (CFN), Mrs. Hannatu Mershak, emphasized the importance of digital transformation in the cooperative sector, noting that a digitized system would improve record-keeping, facilitate access to markets and finance, and enhance trust among government agencies and development partners.
