The Federal Government has launched a national digital registry for cooperative societies and ordered all existing cooperatives to complete revalidation within six months.
The government signed an agreement with the Cooperative Federation of Nigeria and identity technology company Seamfix Limited on August 12. This agreement will power the National Cooperative Smart Registry, which will create digital records for registered cooperatives and their members.The Federal Ministry of Agriculture and Food Security says the exercise will help it identify genuine cooperatives and track government support more effectively.
Nigeria currently has more than 370,000 registered cooperative societies, with membership running into tens of millions. These cooperatives operate across agriculture, manufacturing, commerce, housing, transport and finance. However, many still manage membership and registration records manually, and that has made verification difficult while creating gaps in government data.
For business owners who rely on cooperatives to access finance, equipment or government programmes, this new system could make verification more important than ever.
How Cooperatives Can Revalidate
Existing cooperatives must take their registration records to their respective state Departments of Cooperatives for verification. Those that complete the process will enter the National Cooperative Smart Registry.
Each verified cooperative will receive a Cooperative Verification Number (CVN). Individual members will gradually receive a Cooperative Member Identification Number, known as CoopID, and the system will link each CoopID to the member’s national identity information.
The government insists the registry won’t replace existing federal, state or Federal Capital Territory regulators. Instead, it will build common digital infrastructure that verifies cooperative information nationwide. State cooperative departments will handle much of the revalidation process, and the government plans to start with a pilot across Nigeria’s six geopolitical zones before expanding further.
Verified Cooperatives Could Get Easier Access to Loans
The financial angle could matter most to small business owners.
Minister of State for Agriculture and Food Security Aliyu Sabi Abdullahi said a verified CVN could serve as a credential when cooperatives apply for bank loans, government interventions, contracts and partnerships. The government also plans to connect the system with CoopCHECK, a proposed cooperative credit bureau, which could give lenders more information when they assess cooperatives and their members for credit.
That said, verification alone won’t automatically qualify a cooperative for a loan. Banks and other lenders will still apply their own credit requirements. The registry should mainly make it easier to confirm that a cooperative exists and identify its members. In other words, it removes one problem for small businesses that operate through cooperatives, but it won’t remove other lending hurdles such as repayment capacity or credit risk.
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The government also wants people without smartphones to access parts of the system. The Agriculture Ministry says it plans to roll out services through USSD and feature phones, which could help cooperative members in rural communities where smartphone and internet access remain limited.
Government Plans Wider Cooperative Reforms
This digital registry forms part of the government’s Renewed Hope Cooperative Reform and Revamp Programme.
Abdullahi has also ordered officials to fold ongoing reviews of Nigeria’s cooperative laws into a new Cooperative Societies Bill. This proposed law would recognise digital registration, electronic records, digital identity and data governance.
The government also wants this digital infrastructure to support its proposed Cooperative Bank of Nigeria. It expects the registry, CVN, CoopID and credit information system to generate data that lenders could use when dealing with cooperatives.
Under the agreement, the Agriculture Ministry will coordinate the programme. State and FCT cooperative authorities will handle implementation in their jurisdictions, the Cooperative Federation of Nigeria will mobilise cooperative societies, and Seamfix will provide and operate the technology infrastructure.
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The immediate issue for Nigeria’s cooperative societies now centers on the revalidation exercise. Existing cooperatives must verify their registration records with their state authorities before they can enter the new national registry and receive a CVN
