On April 5, the AUN Investment Club was formally inaugurated.
The promoters are hopeful that the new outfit will offer senior employees another window of opportunity for more financial investment and wealth creation, aside from the AUN Cooperative Society, which caters for the entire AUN Community, including expatriate staff and faculty.
Registered as AUN Senior Staff Multipurpose Cooperative Society Ltd, the new association will also be called AUN Investment Club (AIC). Its interim executives stated that 28 people had signed up for membership with many more still being processed.
Tunde David Animashaun, the interim president, told the inaugural congress that his team had identified ‘platforms that offer risk-free investment, despite the fledgling stage of AIC’s capital base’.
Mr. Animashaun is among the four officers who were appointed during a pre-congress meeting to serve until November 2019. The other three are Gabriel Peter, General Secretary; Abiodun Olalekan, PRO; and Babatunde Karimu, Financial Secretary.
The meeting was attended by members and others who are interested in investments. Mr. Animashaun said there were three saving options--regular, target, and retirement--designed to meet members’ needs. “The regular saving qualifies members for loans to the tune of 200 percent of their savings.”
AIC also has four officers who were appointed into its Interim Advisory Board. They are all staff of the University and include Surajudeen Osuolale Alabi, Chief Accountant; Samson Audu Mshellia, Director of Budget; Tongnan Nwanshak, University Bursar, and Abdullahi Bello, Director of Residence Life.
Mr. Animashaun further stated that AIC registered with the regulatory authorities. “We also got the permission to operate from the Economic and Financial Crimes Commission (EFCC), Federal Inland Revenue Service (FIRS), and the management of AUN.”
He gave the goals and objectives of AIC to include having ‘quality and financially disciplined members, ensuring investment of funds that guarantees maximum returns, helping members achieve financial targets, encouraging personal planning towards retirement besides the one handled by the pension fund administrators (PFA), and helping members improve on their knowledge of investment and financial literacy’.
“We will have periodic investment seminars and will invite experienced financial experts to come and address members."
Reported by Omorogbe Omorogiuwa