Delta Cooperative Members Raise Alarm Over N70m Trapped Savings, Appeal to Governor Oborevwori for Intervention
Retirees face severe hardship as protracted leadership disputes, stalled mediation, and an active EFCC petition leave over N70 million in cooperative savings and landed assets inaccessible.
ASABA, DELTA STATE — Mounting anxiety has gripped members of the Delta State Hospital Management Board Multipurpose Cooperative Society II, as prolonged internal leadership disputes have left over N70 million in hard-earned retirement savings out of reach.
The affected contributors, consisting largely of civil service retirees and healthcare personnel, have formally appealed to Delta State Governor, Sheriff Oborevwori, and the State Attorney General to intervene directly to safeguard their funds and recover associated landed properties.
Impasse Halts Operations and Stirs Tension
The cooperative’s president, Emelereta Emmanuel, confirmed that the crisis has paralyzed the organization’s operations, preventing the society from convening its Annual General Meetings (AGM) and exposing the current executive committee to escalating hostility from distressed contributors.
“We are appealing to Governor Oborevwori and the Attorney General to step in, facilitate the release of these funds, and help our members recover both their financial contributions and landed properties,” Emmanuel stated.
The human toll of the standoff is becoming increasingly severe. For Julius and Herrieta Otobene, a retired couple with over N2 million locked in the cooperative, the crisis has derailed their post-retirement security.
“We served for years expecting a peaceful, stable retirement. All we want is our money,” Julius said.
Stalled Mediation and EFCC Petitions
According to legal practitioner Benjamin Amede, the conflict stems from the failure of the cooperative's previous executive administration to account for member contributions, prompting members to submit petitions to the Economic and Financial Crimes Commission (EFCC).
Subsequent litigation prompted an alternative dispute resolution (ADR) session organized by the Delta State Ministry of Justice on June 1. Under the proposed settlement framework:
- All parties agreed to withdraw existing court cases by mid-June.
- Comprehensive financial statements were to be submitted.
- An Annual General Meeting was scheduled for September to facilitate the phased release of funds.
Although the court action was officially discontinued on June 18 in accordance with the agreement, the funds remain inaccessible. In a formal petition to the Attorney General dated October 9, members noted that convening the requisite general meeting remains practically impossible without basic operational liquidity.
Another contributor, Omogha Faith, highlighted that while members complied with the state’s mediation directives, the EFCC inquiry remains active because the complaints were lodged independently by individual members. She added that ongoing administrative gridlock and disputes over asset custody have left contributors vulnerable and anxious.
Systemic Irregularities Spanning Decades
The cooperative’s secretary, Israel Watite—an accountant with a general hospital in Sapele—suggested the problem points to long-term financial mismanagement. Watite estimated that total historical savings could exceed N800 million to N1 billion over a 20-year span, yet members regularly face rejection when requesting statutory payouts as modest as N1 million to N2 million upon retirement.
Watite maintained that restoring fiscal accountability, recovering misappropriated assets, and protecting vulnerable pensioners remain the leadership's top priorities.
Official Response
Efforts to obtain clarification from regulatory authorities yielded no immediate response. When contacted on Sunday, Joseph Okotie, Director of Cooperatives at the Delta State Ministry of Trade and Investment, declined to comment citing personal commitments. Subsequent calls, SMS inquiries, and messaging follow-ups went unanswered as of press time.
