A Critic of the Legal Framework for the Incorporation of Co-operative Societies in Nigeria

T.I. Akomolede, E.T. Yebisi


This paper is a critique of the legal framework for the incorporation of co-operative societies in Nigeria.  To achieve this objective, the paper critically examines the statutory provisions of the Nigerian laws and the common law relevant to incorporation of co-operative societies and juxtaposes these laws  with the principles contained in the International Co-operative Alliance (ICA) statute which are meant to be the fons et origo of a modern co-operative societies law.  The paper finds amongst others that, the Nigerian law is replete with provisions which tend to undermine the ICA principles.  Time honoured common law principles which tend to paralyse the purpose of co-operative activities feature prominently.  The paper also underscores the enormity of the powers of the Director of Co-operatives and the danger such powers portend to the vibrancy of co-operative societies and suggests ways of keeping abuse in check.

Keywords: Co-operative Societies – Director of Co-operatives – Corporate personality – co-operative principles – International Co-operative Alliance.

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ISSN (Paper)2224-3240 ISSN (Online)2224-3259

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