Governance & trust
How we protect your money
GOSA Cooperative is owned by its members. These are the principles every officer, committee and system works by.
No one person controls money
Every sensitive action — creating a member, approving a loan, paying out, refunding, adjusting the books — needs one person to prepare it and a different, authorised person to approve it. Our systems enforce this; it can't be skipped.
Conflicts are declared, not ignored
Nobody can approve their own loan or a decision that benefits them. Loans to executives or related parties follow a separate, independent approval route and are reported separately.
A permanent record of everything
Every important action is written to a tamper-evident log: who did what, when, and why. Records are never silently edited — corrections are made openly, as new entries.
Reconciled with the bank
Every naira in our records is matched to our dedicated cooperative bank account at least monthly. A payment only counts once the member, amount, date, purpose and account all match.
Liquidity before yield
We keep enough readily available funds to meet withdrawals and obligations before lending or investing. If that cushion runs low, new lending pauses.
Responsible credit
Loans are based on your savings record, repayment history and genuine ability to repay — supported by guarantors, never replaced by them.
Careful investment
Surplus funds go only into permitted, regulated options such as Treasury Bills and approved bank placements — chosen for safety and liquidity first, return second.
Your data, protected
Sensitive details such as BVN, NIN and account numbers are encrypted and hidden by default. Staff must give a reason to view them, and every view is recorded.
Reporting to members
Every quarter, members receive a one-page report covering contributions, savings, loans disbursed, the outstanding loan book, arrears, provisions, investment income, operating costs and net surplus. Annual accounts are independently audited.
Become a member