RECB Convenes AGM, Reaffirms Drive For Expanded Real Estate Access, Member Impact

Mary Nnah

The Real Estate Cashback Housing Cooperative Society (RECB) recently held its 2025 Annual General Meeting (AGM), uniting its community of members, board leaders, and stakeholders for a milestone gathering focused on reviewing accomplishments, recognizing impact, and setting a course for future growth. The event offered a moment to reflect on RECB’s progress over the past year while reaffirming its dedication to empowering members financially through inclusive real estate opportunities and cooperative-driven development.

In his welcome message, RECB President, Dr. Oluwatosin Olatujoye, applauded the dedication of members and their ongoing belief in the cooperative’s shared mission.

“Our strength lies in our unity. Your trust and active involvement are the foundation of everything we’ve achieved,” he remarked. He went on to highlight key gains, including a consistent rise in membership, increased joint investment in property projects, prompt dividend payments, and the introduction of support programs designed to reduce financial pressure on members.

A central feature of the meeting was the detailed performance report, which outlined the cooperative’s involvement in real estate initiatives across Lagos, Ogun, and Abuja. The update revealed steady growth in member contributions, timely completion of housing developments, and continued regional expansion, cementing RECB’s presence in Nigeria’s property investment space.

Treasurer Mr. Wasiu Sonekan shared insights into the cooperative’s financial stewardship, emphasizing responsible fund management and measurable outcomes.

“Our real estate ventures are more than profitable, they’re life-changing. We have helped members move from saving to owning, and every naira is accounted for,” he noted. He stressed that accountability and ethical management remain central to RECB’s philosophy and future plans.

Adding a powerful voice from within the cooperative, Mr. Joel Ayeni, a longtime member, gave a heartfelt testimony. He spoke of individuals who have benefited immensely from their association with RECB, including a woman who was able to fund her children’s university education and a Canadian-based nurse who paid off her home loan through her cooperative dividends.

“These aren’t statistics, they’re real-life stories of progress,” Mr. Ayeni said. “The level of trust, transparency, and follow-through in this cooperative is second to none.”

The AGM concluded with renewed unity and strategic direction. With eyes set on deeper impact and expansion, RECB reaffirmed its vision of building not just houses but financial stability and opportunities for its members.

As the cooperative continues to evolve, it remains a powerful model of what is achievable when people come together with shared values, clear goals, and a commitment to inclusive prosperity, one member, one property, and one community at a time.