Minister Unveils Cooperative Bank Plan, Digital Registry at Kaduna Summit
By Uangbaoje Alex, Kaduna
The Federal Government has unveiled plans to establish a Cooperative Bank of Nigeria and roll out a nationwide digital identity and registration system for cooperative societies as part of sweeping reforms aimed at repositioning the sector as a major driver of economic growth, financial inclusion and food security.
The Honourable Minister of State for Agriculture and Food Security, Senator Dr. Aliyu Sabi Abdullahi, disclosed this on Friday while chairing the Cooperative Education for Sustainable Economic Development Summit (CESDES 2026) held at the Federal Cooperative College, Kaduna.
Speaking on the theme, “Cooperative Education as a Tool for Inclusive and Sustainable Economic Development,” the minister said the reforms are being implemented under the Federal Government’s Renewed Hope Cooperative Reform and Revamp Programme (RH-CRRP) 2025–2030.
According to him, the reform agenda is designed to transform Nigeria’s cooperative movement into a modern, technology-driven, financially inclusive and globally competitive sector capable of contributing significantly to national development.
Abdullahi identified three flagship initiatives at the heart of the reforms, including the digitalisation of the cooperative sector through the establishment of the National Cooperative Digital Architecture Platform (NCDAP), which will host the National Cooperative Smart Registry and introduce a Cooperative Verification Number (CVN) for societies and a Cooperative Member Identification Number (CoopID) for members.
He said the initiative would improve transparency, strengthen regulatory oversight, support evidence-based policymaking and facilitate access to finance while reducing fraud within the sector.
The minister also announced plans to establish the Cooperative Bank of Nigeria, describing it as a cooperative-owned financial institution that will provide affordable and accessible financial services to cooperative societies and their members nationwide.
“The Bank will serve as a strategic vehicle for mobilising cooperative capital, financing agricultural production, supporting MSMEs, promoting enterprise growth, expanding financial inclusion, and creating sustainable economic opportunities for millions of Nigerians,” he said.
He added that cooperative societies and their members would maintain majority ownership and control of the proposed bank in line with cooperative principles.
The minister further revealed that the Federal Government is reviewing the Nigerian Cooperative Societies Act and developing a modern regulatory framework to address emerging realities such as digital transformation, financial innovation, data protection and evolving governance standards.
Abdullahi noted that cooperatives remain one of Nigeria’s strongest grassroots economic institutions, serving millions of farmers, traders, artisans, transport operators, civil servants, women and youth across the country.
He stressed that cooperative education remains central to the success of the movement, describing education, training and information as one of the internationally recognised principles of cooperatives.
“Without education, cooperatives cannot effectively fulfil their mandate of empowering members, creating wealth, generating employment and contributing meaningfully to national development,” he said.
Earlier, the Provost of the Federal Cooperative College, Kaduna, Dr. Awwal Ibrahim Mohammed, said cooperative education is critical to building resilient enterprises capable of driving wealth creation, food security, rural transformation and social cohesion.
He noted that the college remains committed to producing skilled cooperative professionals, entrepreneurs and development practitioners equipped to strengthen the sector and support sustainable economic development.
The summit, organised by the Federal Cooperative College, Kaduna, in collaboration with Impact Multipurpose Cooperative Society Limited and Zaria Local Government Affiliated Cooperative Society Limited, brought together cooperative leaders, policymakers, academics, development partners and stakeholders to discuss the future of cooperative education and its role in inclusive economic growth.
Participants were urged to embrace innovation, digital transformation, continuous learning and strategic partnerships as key tools for strengthening the cooperative movement and expanding its contribution to Nigeria’s development.
