FG launches ₦200bn Capital drive for proposed cooperative bank

Nigeria's Federal Government has initiated a significant financial drive, launching a ₦200 billion share capital mobilization campaign for the establishment of the Cooperative Bank of Nigeria. This move is a key component of the Renewed Hope Cooperative Reform and Revamp Programme (RH-CRRP).

The primary objective of this ambitious program is to bolster economic growth spearheaded by cooperative societies throughout Nigeria. By mobilizing substantial capital, the government aims to create a robust financial institution that can effectively support and enhance the operations of cooperatives nationwide.

The Minister of State for Agriculture was present at the unveiling of this initiative, signaling the government's commitment to leveraging cooperative models for national economic development. The campaign seeks broad participation to ensure the proposed bank has a strong financial foundation.