The Federal Government has launched a ₦200 billion share capital mobilisation campaign for the proposed Cooperative Bank of Nigeria, under the Renewed Hope Cooperative Reform and Revamp Programme (RH-CRRP) as approved at the 8th Regular Meeting of the National Council on Cooperative Affairs.
The Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Sen Dr. Aliyu Sabi Abdullahi made this disclosure during the North-West Zonal Engagement of the Ministerial Advocacy Tour held on Thursday 18th June, 2026 at the Umaru Musa Yar’Adua Hall, Kaduna.
Dr Aliyu Abdullahi revealed that the Ministry is targeting 10,000 cooperative societies across the 36 states and FCT through a tiered mobilization plan: 1,000 societies at ₦21M – ₦50M, 3,000 at ₦16M – ₦20M, and 6,000 at ₦1M – ₦15M”.
The Minister stated: “Through this collective effort, we aim to mobilise approximately ₦200 billion and establish a strong, sustainable, and nationally owned cooperative financial institution capable of supporting agricultural development, enterprise growth, financial inclusion, housing, transportation, value-chain development, and wealth creation for millions of Nigerians.”
He emphasised that the 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 added that to ensure continuity beyond the current administration, the Ministry has established an Inter-Ministerial Technical Committee for policy coordination and a National Steering Committee with MDAs, apex cooperative organizations, and development partners. The Federal Department of Cooperatives has also assigned dedicated desk officers to each of the seven strategic pillars of RH-CRRP”.
According to him, the proposed Cooperative Bank of Nigeria will preserve cooperative control and identity while attracting strategic investment. 65% of equity will be owned by cooperative societies through the Cooperative Trust & Investment Society of Nigeria (CoopTrust).
30% will be open to institutional investors, development finance institutions, impact investors, and individual cooperators.
5% is reserved for an Employee Share Ownership Scheme”.
In a statement by the Head, Department of Information,Ezeaja Ikemefuna, the Minister revealed that the Ministry is rolling out the National Cooperative Digital Architecture Platform (NCDAP) to address data gaps. Key components include the National Cooperative Smart Registry (NCSR), Cooperative Verification Number (CVN) and CoopID, CoopCHECK Credit Bureau powered by CreditRegistry”
“We cannot build a modern, globally competitive cooperative economy using outdated analog systems,” Dr. Abdullahi added.
The Minister commended Kaduna State Governor, Senator Uba Sani, for sustaining the state’s legacy as a centre of commerce, education, agriculture, and innovation, noting that his commitment to security and social inclusion provides a strong foundation for RH-CRRP to thrive.
He lauded the Provost of the Federal Cooperative College, Kaduna, Dr. Mohammed Awwal, for spearheading the Cooperative Education for Sustainable Development Summit 2026 scheduled for June 18–19, 2026 in Kaduna.
In his remarks, the Executive Governor of Kaduna State, Sen Uba Sani, represented by the Commissioner of Agriculture, Hon. Murtala Dabo said that ” the cooperative movement has historically played a vital role in Nigeria’s socio-economic development”.
Sen Uba Sani added that across our communities, cooperatives have served as platforms for collective action, savings mobilisation, access to credit, enterprise development, agricultural production, and community empowerment. “They have enabled ordinary citizens to pool resources, reduce risk, improve productivity, and create sustainable livelihoods.” he said.
In his welcome address, Provost, Federal Cooperative College, Kaduna State, Dr. Ibrahim Mohammad Awwal stated that Kaduna occupies a unique place in the history of cooperative development in Northern Nigeria and remains a major centre for cooperative education, training, research and institutional development.He said the choice of Kaduna for the engagement is therefore both symbolic and strategic.
During her Goodwill Message, the President, Cooperative Federation of Nigeria, CFN, Mrs Hannatu Mershak said that a digitised cooperative sector would lead to veritable records, easier access to markets and finance as well as greater trust from Government and Development Partners.
