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Lagos Tax Cooperative society hits 2000 membership with N1bn capital base

The Lagos State Tax Administrative Cooperative Multipurpose Society (TACMS) has said that its membership strength has increased to over 2,000 with over N1 billion financial capital base in five years after establishment of the society.

 

The Cooperative Society has also received several requests recently from financial experts to join the cooperative society and boost their standard of living. Speaking at the 5th anniversary celebration of the cooperative held at the Lagos Business Club, Alausa, Ikeja, and in strict compliance to the COVID- 19 safety protocols, the President of the society, Adeyinka Kazeem, explained that the funds were realised through members’ contribution to the society’s development and efforts by the pioneers as well as current executive members to guide against financial misappropriation.

 

According to him, unlike some cooperatives societies battling with financial management, TACMS has been managed over the years by experts and with adequate monitoring from the Lagos Internal Revenue Services (LIRS). Kazeem said: “This cooperative just started five years ago.

 

Since we started, we do not condone any act of corruption because the management of Lagos Internal Revenue Service (LIRS) has been a major regulator for the society to prevent misappropriation of members’ funds.

 

And the executive members have often ensured that transparency and accountability remain their watchword.

 

“Due to this, we have been adjudged the best cooperative society four times within the five years of our establishment and that indicates what we have been doing annually, which is, working to always ensure that members get their needs met when due. We often ensure that within two weeks after a member tenders his request, he gets it.”

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