Real Estate Cashback Housing Cooperative Society (RECB) has convened its Annual General Meeting (AGM) for 2025, bringing together members, board executives, and stakeholders to review the cooperative’s performance, celebrate milestones, and outline strategic goals for the year ahead.
The gathering served as both a reflection on past achievements and a reaffirmation of RECB’s commitment to financial empowerment, member welfare, and sustainable cooperative growth.
In his opening remarks, RECB President, Dr. Oluwatosin Olatujoye, commended members for their continued trust and active participation. “This cooperative is only as strong as its members, and your belief in our collective vision is the reason we’re here today,” he said.
He also highlighted key accomplishments over the past year, including an increase in cooperative members, collective investment in real estate projects, timely disbursements of dividends, and new welfare initiatives introduced to ease members’ financial burdens.
A key highlight of the AGM was the presentation of progress reports, specifically detailing the real estate projects financed by the cooperative over the years. The report revealed notable strides including increased member contributions, timely execution of housing developments, and strategic expansion into real estate financing across Lagos, Ogun, and Abuja.
During the presentation, Mr. Wasiu Sonekan, the Cooperative’s Treasurer, emphasized the society’s prudent financial management and commitment to member value. “Our real estate investments are not just yielding returns; they are creating real-life impact. We have financed projects that members can physically see, access, and take ownership of. Every contribution made has been accounted for and directed towards sustainable development,” he stated.
He further reiterated that transparency and accountability remain the cornerstone of RECB’s operations, assuring members that the cooperative will continue to uphold the highest standards of integrity as it scales its real estate footprint and financial services.
To underscore the impact of these initiatives, Mr. Joel Ayeni, a long-standing member of the cooperative, highlighted some of the tangible benefits he and others have enjoyed through RECB. Sharing real-life stories, he referenced a single mother who was able to send her two children to the university through savings and dividends from the cooperative, as well as a nurse in Canada who successfully paid off her mortgage using her cooperative returns. “These are not just numbers on paper,” he said. “These are real people whose lives have changed because they trusted this system. The transparency, the support, and the consistency are unmatched.” His testimonial was met with applause, serving as a powerful reminder of the cooperative’s human-centered impact and the far-reaching value of collective investment.
As RECB continues to grow in both strength and impact, the AGM served as a strong reminder of the power of collective finance in transforming lives and communities. With a renewed sense of direction, the cooperative looks ahead to a year of innovation, growth, and shared prosperity.
