The Federation evolved from the old, Lagos Co-operative Thrift and Credit Union Ltd which was established in 1952 and registered in 1956 as the parent body for all the cooperative societies in the then Lagos colony.
After the creation of Lagos State in 1967, Lagos Co-operative Thrift and Credit Union Ltd became Lagos State Co-operative Union Ltd which was later changed to Lagos State Co-operative Federation Ltd (LASCOFED), like every other state co-operatives apexes, it was duly registered by the Director of Cooperative Services on May 3, 1982.
Lagos State Cooperative Federation Ltd. (LASCOFED) is an independent Non-Governmental Organisation (NGO) established in line with international and national best practices as the umbrella body to unite, represent and serve cooperative societies in Lagos State. LASCOFED like all other cooperative societies in the state is registered under the Lagos State Cooperative Societies’ Laws.
The Co-operative Movement in the State is a reference point for economic empowerment programmes in Lagos State and also in Nigeria as the member cooperative services give out start-up funds and affordable loans to cooperators.
All cooperative societies registered in the state are statutory member affiliates of LASCOFED. Members of LASCOFED are found in all sectors of the economy including agriculture, banking, health, transport, the informal sector, corporate organisations and industries as well as Federal and State Ministries, Departments and Agencies including Houses of Assembly.
STRUCTURE AND ACTIVITIES
LASCOFED is governed by a Board of Directors made up of a democratically elected President-In-Council and Directors. The Directors are the representatives of the 20 Multipurpose Cooperative Unions to which the state is divided as well as the representatives of the various Cooperative associations in the state and the Women in Cooperatives.
The Board is constituted every four years at a congress of members.
Our activities include:
a. Providing a common platform for the various cooperative organisations for the purpose of discussing and solving common problems.
b. Acting as the mouth-piece of the Cooperative Movement and engaging in dialogue with government, corporate bodies, other non-governmental organisations and business partners for the benefit of our members.
c. Capacity building. To achieve this, we organize seminars, workshops, conferences, retreats and international tours for cooperators.
d. Making cooperative stationaries and publications available to our members.
e. Licence and monitor Cooperative Account Managers. This is an important work force for the Cooperative Movement as they post the transactions and prepare the accounts of cooperative societies.
RELATIONSHIP WITH GOVERNMENT
Lagos State Cooperative Movement represented by Lagos State Cooperative Federation (LASCOFED) is an independent non-governmental organization setup statutorily to represent the member-affiliates for the benefit of cooperators.
The government however provides the enabling environment for the various types of cooperative societies to thrive by making laws and regulating the activities of the societies through the regulatory ministry in this case, the Ministry of Agriculture and Cooperatives.
LASCOFED is an affiliate of Cooperative Federation of Nigeria (CFN) and by extension International Cooperative Alliance (ICA).