The News Agency of Nigeria (NAN) Staff Multipurpose Cooperative Society Limited has declared a surplus of ₦34.07 million after expenses for the 2025 financial year. The financial results were disclosed by the President of the cooperative, Mr Aliyu Abubakar, during the society’s 14th Annual General Meeting (AGM) held in Abuja.
The performance marks an increase from the ₦27.6 million profit recorded in the 2024 financial year. Abubakar attributed the growth to proactive trading strategies undertaken by the executive committee, which successfully navigated broader economic challenges and inflationary pressures throughout the period.
Under the proposed distribution breakdown, ₦23.5 million (representing 69 per cent of the total surplus) will be allocated as dividends and interest for members. Additionally, ₦3.4 million (10 per cent) will be directed to the Education Fund, while another ₦3.4 million (10 per cent) will be retained in the general reserve. As of 31 December 2025, total share capital stood at ₦50.78 million and member savings reached ₦438.69 million.
The Managing Director of NAN, Malam Ali M. Ali, commended the leadership for prudent management and fiscal transparency, noting that the cooperative provides critical financial backing to agency staff through access to personal, housing, and healthcare loans.
Representatives from the FCT Agriculture and Rural Development Secretariat also encouraged members to continue strengthening their contributions to secure long-term financial stability beyond retirement.
