Maistrade Multipurpose Cooperative Society Limited has announced the launch of its new financial vehicle worth $5bn.
In a statement on Thursday, the Cooperative Society said that the fund, named ‘AssuredInvest Cooperative Trust Fund, is designed to mobilise cooperative capital into national priority sectors such as agriculture, affordable housing, MSMEs, education, green energy, and digital inclusion.
President/Chief Vision Officer of Maistrade, Mr Ben Aduli, said, “The AssuredInvest Fund is more than an investment model; it is a national call to action. Through this fund, we are enabling millions of Nigerians to collectively shape their economic destiny through secure, trusted, and inclusive cooperative finance.”
Some of the key features of the Fund include a 10-year convertible debenture framework, independent trustee supervision to ensure transparency and accountability, insurance-backed protection on contributor capital, a split custodial account system to safeguard and monitor fund flows, digital platform access for individuals, institutions, and diaspora members and a target of over one million contributors in the first phase of implementation.
Maistrade Multipurpose Cooperative Society Limited is a multipurpose cooperative alliance, structured as a federated cooperative network comprising over 150 independent cooperative corporations, with a combined membership of more than 237,000 individuals and enterprises across 37 states and federations in Nigeria.
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