The Critical Review Of The Sources Of Funds Open To Cooperative Society In Imo State (A Case Study Of Some Selected Primary Cooperative Society In Imo State.)

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Project and Seminar Material for Cooperative Economics and Management CEM

Project and Seminar Material for Cooperative Economics and Management CEM


I dedicate this work to Almighty God, the giver of life, the author and finisher of our faith.


I acknowledge this work to God Almighty for his protection and mercy upon my life through out my stay in this institution.

My utmost gratitude goes to my Mother for her financial encouragement towards relaxation of this work; my gratitude also goes to my beloved sisters and brothers for their advice to me.

My special thanks also goes to my supervisor Mrs. Michael Maureen, for her close supervisor and advice. Also my H.O.D Mr. Ozuitem Dickson and my lecturers, my colleagues in campus and ex – students of this school for their knowledgeable contribution in the successful implementation of this work.

Lastly to all my friends and well wishers for their encouragement and supports.


This is no doubt that finance is the blood life of any business enterprise even cooperative society.
In the truest concept and practice, finance is concerned with money, and is involved in cooperative societies for the establishment or formation.

This research work tends to look into the sources of funds opened to cooperative, how cooperative source for funds, the importance of sourcing for funds, why cooperative are organized, origin or cooperative, sparking up of cooperative, organizing step in cooperative and factors that could affect the formation of cooperative society.

Table Of Contents

  • Title Page
  • Certification
  • Dedication
  • Acknowledgement
  • Abstracts
  • Table Of Contents

Chapter One

  • 1.0 Introduction
  • 1.1 background of the study
  • 1.2 Statement of problem
  • 1.3 Objectives of the study
  • 1.4 Research question
  • 1.5 Significance of the study
  • 1.6 Scope of the study
  • 1.7 limitation of the study
  • 1.8 Definition of terms

Chapter Two

  • 2.0 Review of related Literature
  • 2.1 Origin of cooperative
  • 2.2 Sparking of a cooperative
  • 2.3 Why cooperative are organized
  • 2.4 Organizing steps in cooperative
  • 2.5 Sources of funds opened to cooperative
  • 2.6 The importance of finance in cooperative
  • 2.7 The reason for joining cooperative
  • 2.8 Factors that could affect/influence the establishment of cooperative

Chapter Three

  • 3.0 Research Methodology
  • 3.1 Research design
  • 3.2 Sources of data collection
  • 3.3 Rationale for choice of variables
  • 3.4 Instrument for data collection
  • 3.5 Description of data
  • 3.6 Validity and reliability of measuring instrument

Chapter Four

  • 4.0 Presentation and Analysis of data
  • 4.1 Introduction
  • 4.2 Analysis according to research question
  • 4.3 Data presentation and classification

Chapter Five

  • 5.0 Summary of findings, conclusion and recommendation
  • 5.1 Summary of findings
  • 5.2 Conclusion
  • 5.3 Recommendation
  • Bibliography
  • Appendix
  • Questionnaire

Chapter One

1.0 Introduction

This project research tends to look at the sources of funds open to cooperative society in Imo state, a case study of some selected primary cooperative societies in Imo state.

Observation and questionnaire shows the sources of funds opened to cooperative society, and emphasis is placed on the sources. The existence of a business enterprise to a large extent depends on the availability of fund both for initial take off and for running the business.

Enough capital outlay is needed to buy assets (e.g cars, building, equipment etc), and for handling daily needs (e.g stationeries, paying wages and salaries etc). lack of fund can put a firm on a standstill. The capital requirement of business varies from firm to firm.

Financing is the act of raising and using of funds by individuals, cooperatives, firms and governmental organizations for their day to day operations, running and management of a business undertaking as opted by Okeke (2006). As a discipline, finance is merely a body of facts, principles and theories which deal with the raising (e.g by borrowing) and using (e.g by investing) of money by individuals, cooperatives, firms and governmental organizations. In the truest concept and practice, finance is concerned with money (that is the life blood of any business enterprise) be it cooperatives, partnerships, limited liability companies etc.

Adeyeye (1978), implied that no business organization can thrive and survive without constant and adequate flow of finance . He opted that in business financing there are three ways of going about it, and is as follows;

  1. By short term
  2. By intermediate term
  3. By long term

To further explain, short term is the type of borrowing that is repayable within one year intermediate is more than one year but less than5 years, while long term is 5 years and above.

A key consideration in choosing the source of cooperative finance is to strike a balance between equity and debt to ensure the fund structure suits the business.

The main difference between borrowed money (debt) and equity and that bankers request interest payments and capital requirements, and the borrowed fund is usually secured on business assets or the personal assets of shareholders/ directors.

The overall objective in rraising funds in cooperatives to excessive high borrowings, but without unnecessarily diluting the share capital. Raising funds is often a complex process. Cooperative needs to assess several alternatives and then negotiate terms which are acceptable to the fund provider.

Bob Igwe (1996), quoted that the sources of funds opened to any cooperative society has made it possible for the director/management to take a reasonable decision that will effect changes in cooperative development.
Calvert H (1956), said finance is the most encompassing of all business enterprises.

Cooperative society have expanded forms of business due to the opportunity to raise shares of capital through the public and the ease with which fund can be available to them owing to the fact that they have collateral to borrow money from financial institution.

1.1 Background Of The Study.

According to thirlwal (1972;260), the study of the sources of funds opened to cooperative van be viewed from domestic resources. Some members of cooperative societies in the rural arrears are characterized by poverty, illiteracy, unemployment etc. and has become a huge problem to financing cooperative.

The formation or starting up of a cooperative need good financial planning, by this the researcher means an adequate identification of the financial needs of cooperative through aggregate budget of the various units or department or division that make up cooperative.

The capital needs in cooperative incorporate thee need to solve certain problems militating the growth of cooperative. With this the cooperative society will look inward to see what is available, and how to source for fund internally and externally. Serious attention should be given to financial need of cooperative in terms of time, sources and economically feasible method of acquisition.

1.2 Statement Of Problem.

Statement of problem are problems to be faced in the means of sourcing for funds in cooperative. Since cooperative is an association of persons who have voluntarily joined together to achieve a common end through the formation of a democratically controlled business organization, making equitable contribution to the capital required, and accepting a fair share of the risk and benefits of the undertaken in which the members actively participate.

1.3 Objective Of The Study

The objective necessitated the importance of sources of funds opened to cooperative, and the study is significant in the sense that it provides the following:

  1. It contributes to the existing literature in sourcing for funds in cooperative.
  2. It determines how members contributes in sourcing for funds.
  3. It identify how cooperative societies are funded.
  4. To determine the prospect of sources of funds opened to cooperatives.
  5. To determine the impact of cooperative in sourcing for funds in Imo State.

1.4 Research Question.

  1. How can cooperative societies in Nigeria be funded?
  2. What are the roles played by members in funding cooperatives?
  3. What are the problems militating against cooperative funding?
  4. What benefits do a member derive in funding cooperative society?
  5. What are the sources of funds opened to cooperative societies?

1.5 Significance Of The Study

This study is very significant in nature, and tends to view how cooperative societies can be financed in Imo state, and Nigeria as a whole by proffering solution to the problem. The findings of the study also reveals the extent and level of sources of funds opened to cooperative societies.

1.6 Scope Of The Study

The scope of this research work is on identifying the critical review on the sources of funds opened to cooperative societies. However, the available and adequate facts obtained is within the research topic which is effectively utilized.

1.7 Limitation Of The Study

The limitation in this research work is as follows:

Lack Of Information:

In the area of information, the lukewarm attitude of the members of the selected primary cooperative societies to give out information that will enable the researcher to have a comprehensive due in identifying the sources of funds open to cooperative.

Financial Constraint:

If this research work has been extended to the entire nation, it will have taken a lot of funds in financing this research work.

Time Constraint:

This is another problem encountered, the time available to carry out this research work was extremely short and insufficient coupled with other academic commitment.

Environmental Problem:

This research work is limited to Owerri and its environment because of time and proximity to source.

1.8 Definition Of Terms

Cooperative Society:

Cooperative society can be defined as a business organization owned and operated by a group of individuals for their mutual benefits.


A fund can be defined as a money that is set aside for a particular purpose. It can be said to be a sum of money saved or made available for a specific purpose.


Sourcing can be defined as the strategic places where things originate from. This is the source where cooperative generates it funds from.


Finance is often defined as the management of money in an organization, while financing is the act of raising and using funds by individuals, cooperatives, firms and government organization.

I bet you, the complete material is fully loaded. This is just an excerpt. The Material is in MS-Word Format which you can easily edit and is comprehensive for a complete research work for this topic

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How to nail it on the head during your project / seminar defence

You are through with writing that project / seminar. Now what?

You have found yourself at that point where you have to defend what you have written. Of course you have to stand in front of your supervisor and other literary personalities to prove that you know what you wrote in your project paper. Unfortunately, the more you think about it, the more it looks like you are about to face a legion. It is not a war. But the emotion of dread welling up inside of you makes it look like one. So now you are asking yourself questions.

  • How am I going to start?
  • I hope I will do well enough to get an A.

You really want to nail it, but you need to come to terms with exactly how to get everything in perfect control. Especially your emotions of fear that seem to make a wreck of you every time you think about public speaking.
So here is the deal. I want to help you avoid that feeling that would ruin your precious moment if you dare to let it. And we are going to do it together.

I am going to highlight some very important tips to help you get in control for you to be comfortable enough to move from that feeling of DREAD to CONFIDENT; and making an awesome Impression for that great rating your supervisors should be giving to you so freely.

Consider these tips as you prepare for your defence. We will be taking them one after the other so here we go.

Watch Your Body Language And Keep It Confident:

Can you tell that a person is falling apart if they look confident? … If I can second guess you rightly, am sure you answered no to that question. Remind yourself that you need to come out that way. Now this might seem like a huge big deal when you are dealing with the foreboding. Maintaining a poise of confidence is very important. So find your most comfortable position, sitting or standing and draw up your body. You must exude confidence. It is something you need to do for yourself. People can only see what you allow your body language to show. So you must endeavour to put that out. Remember the story of David and Goliath? … At the end of your defence day, you want to be David.

Dress In Your Most Comfortable And Impressive:

Am sure this one is a no brainer. However I must highlight that you choose comfortable pieces. You don’t want to look so good and yet look like you were forced to wear something that does not belong to you. It’s great to ensure that as impressive as your clothes are on you, that they are also very comfortable.

Speak With Authority:

Going hand to hand with that aura of confidence is your most powerful asset:your words. If you look that confident, your words must not come out like whimpers. To be able to pull this off, you definitely need to speak as deliberately as possible in expressing yourself. Let them also hear what they see.

Use, Your Gestures:

I have often found this to come to my rescue in dealing with shyness and conveying my confidence. Usually it gives you an edge to also drive home your point. You must, however, ensure that you do not over use it. It doesn’t mean that your hands should be flying all over the place. That would be absolutely unnecessary. If you do this well, after a while you will realize that you are not as self-conscious as you used to be at the very start. For most situations, it would have completely disappeared altogether; leaving a really confident you talking.

Have A Good Opening And Closing Line:

Make sure you have perfected a good opening line. You should also be armed with a good closing line too. Try and rehearse it to a friend. If for the first time you presented it, your friend does not say “wow, that’s beautiful” or something like that; just know you need to keep refining it until you get the perfect line. Both opening and closing lines will go a long way in how impressed your panel gets to rate you high.

Make Sure You Know Your Work:

Certainly you should understand how important it is to know your own work from start to finish. Not having in-depth knowledge of your own work is tantamount to a suicide mission. Why should you kill yourself?
When all is said and done, this is what you came to defend in the first place. You should know your work from A to Z.

Prepare For The Questions:

Now this part is truly essential. You must be sure you do not floor all the good work you did on your presentation by not answering correctly. You must pay attention to the questions you are asked to be sure you will give the right answer. Many people get it wrong at this stage and spoil their good presentation. When you do not understand any question do endeavour to ask the person to expatiate what they mean before you answer.

These tips are by no means exhaustive, but applying these tips will give you some necessary advantage you need for a great outcome. Of course that outcome would mean that you eventually earn all your points on this project.

The structure of a good project work

Undergraduate projects in Nigeria is a prerequisite for graduation amongst Nigerian tertiary students who will which to obtain bachelors degree in their respective courses of study such as accounting, banking and finance, business administration and a host of others. Writing an undergraduate project in Nigeria for final year students entails a lot both financially and otherwise. Being able to develop any final year project depends on getting a researchable topic whether it is Accounting Undergraduate project topics, Banking and Finance research topics or banking and finance project topics and materials and it all requires diligent hard work of students who are willing to develop best undergraduate projects in Nigeria and graduate in flying colors.

A typical Undergraduate project in Nigerian tertiary institutions can be said to be divided into five or six chapters depending on the format of the school and course of study which are

1. Introduction

The introduction of an undergraduate project states the main research problem and research argument. What precisely the study is all about and why it is important. It looks at the originality of the research work and how it will fill the gap in other studies. Justification for a research undergraduate topic should not be lengthy before it has been explicitly stated.

Below are the contents in chapter one of an undergraduate research project which includes;

  • Background of the study,
  • Statement of the problem,
  • Objectives or aims of the study,
  • The research questions,
  • Research hypothesis,
  • Significance of the study,
  • Scope of the study,
  • Limitations of the study and
  • Operational definition of terms.

2. Literature review

Literature review of any undergraduate research work, be it business administration project topics or Economics project topics just to mention a few is very critical to securing a high grade in one’s project work. The literature review of a research process uncovers what other writers have written about the student’s topic. A student’s undergraduate research work should include a discussion or review of what is known about the subject and how that knowledge was acquired. The review could conclude with a brief summary of the literature and its implications. The contents of the literature review are the theoretical review, conceptual framework, empirical review and summary of literature review.

3. Research Methodology

This section includes a description of the research methods used in the undergraduate research work such as the sample size, data collection methods, measurement instruments, research data analysis procedures and the population from which the sample was selected.  This section also describes the method used in selecting the sample or samples, validation and reliability of the instruments used in the research work. There are different research statistical techniques used in undergraduate research work such as SPSS, e-views etc.

4. Results & Discussion

This section presents and discusses the data analysis results used in an undergraduate research work, the results of each analysis is being summarized, tabulated, and then discussed for each research question.  Then for each research hypothesis, the statistical test of significance selected and applied to the data is briefly described, followed by a statement indicating whether the hypothesis was supported or not supported.  In presenting the result analyses/summary in an undergraduate project tables and figures and or graph are used to add clarity to the presentation.

5. Summary, Conclusions And Recommendations

This section summarizes the findings of the study in an easy to understand manner.  It also explains the practical implications of those findings, and points to recommended directions for future research in that area.


This is where every source cited in the undergraduate research work is being included. Every undergraduate research work must be properly referenced for its authenticity.

Choosing A Good Project / Research Topic

Students in Nigerian universities these days wish to choose a very simple project topic/material. There is no issue choosing a simple project topic; the only problem is your ability to choose a good project or research topic that your supervisor will easily approve for you.

Most project supervisors really want to see how good his or her project student understands his or her surrounding through the kind of topic he or she chooses for their project work.

There are some project topic that are not reject-able; for instance in Nigeria of today; what do you think is the major issue on ground now?

If a project student can choose or craft a topic on the effect of dollar increment on the economy of Nigeria. Such project topic will be very interesting to write on.

Now what are the qualities of a good project topic?

  1. The materials for the project topic must be easily assessable.
  2. The project topic itself must be meaningful.
  3. The variables must be able to give a clear aim of the project topic.

What do I mean by variable?

Well I am deriving my point from the area of project writing; the variables here are those main words in the project topic.

Like the above project topic; the effect of dollar increment on the economy of Nigeria. You can see the main variables that really define this project topic are:dollar, increment and economy.

Before you present your topic to your project supervisor, first of all understand your project topic, and then secondly try to do some research for your topic to see if at least you can get up to 60% of what you need to write the complete project.

I said that above because you might have a very nice topic that the materials are not available online and there are no books as regard the topic; in this case the project topic becomes difficult for you even though the topic is catchy.

What do I mean by your topic being assessable?

Well what I mean is very simple and easy to understand. Simply pick your project topic, type it on google and see if you will have at least a good background for the topic you are writing on.

If you can have a good background for your project topic and you can understand the problem associated with the project topic, then I believe the aim of the project is not far-fetched.

Structure of a Seminar Paper

I feel like there is a lot of stress out there among grad students about writing seminar papers, especially when we’re told that our goal should be to make an original contribution to the field. That idea can be quite intimidating when we’re just starting out. It feels like you’ve asked us to jump off the deep end of the pool and we don’t know how to swim.

I think part of the problem is that we’re still working out how to structure seminar papers.** Each paper we write is another step closer to a successful, effective, and effective paper; however, we’re still flailing our arms (and other miscellaneous body parts) around because we’re uncertain of exactly how to go about it. I realize, of course, that there is no one right answer. However, below is my suggestion at sticking your toes in the water.

Section #1 — Introduction

Provide a little bit (or a lot) of motivation for the reader to read your entire paper. Failing that, your reader should know what the paper is going to be about by reading your introduction.

Paragraph #1 — Get some attention.

  1. Provide a context by citing a recent text in the field — the point that is cited may or may not be the main point of the text — it is what jumped out at you.
  2. Set-up broader context of what you’re going to do

Paragraph #2-?? — Define issue and the gap.

  1. Define issue and any key terms
  2. Limit scope as necessary
  3. Establish significance of issue
  4. State problem by defining the gap
  5. Explain how present research attempts to fill the gap
  6. Outline contributions (readers will see lit review for more detail.)
  7. End with thesis and preview organization of the rest of the paper

Section #2 — Literature Review

Give some credit where credit is due.

  1. Indicate the current state of the issue/problem/topic
  2. Define or qualify terms
  3. Engage sources in conversation with each other (don’t just copy in annotated bib)

Section #3 — Argument / Discussion

As stated in the Allyn & Bacon Guide to Writing:wallow in those complexities!!

  1. Examine issue
  2. Argue how issue can be mitigated, mediated, or mashed
  3. Provide evidence and support
  4. Make some lively commentary along the way

Section #4 — Conclusion

We’re almost done. Don’t quit now.

  1. Summarize research question
  2. Qualify argument/discussion if you need to
  3. Explain where we go now
  4. End well

Section #5 — Works Cited

Double check

Is everything listed on the works cited?

Tips: it’s ok to use sub-headings to keep yourself organized.

Tips On How To Know What Your Supervisor Is Looking Out For In Your Project

Apparently all schools/colleges ask their undergraduates especially the final students to write their final year project before they are certified to be graduates. These projects are mostly discovery activities geared towards problems solving or basically to make new discoveries or better still have a better understanding of a problem with the aim of proffering better solutions.

With this assigned task an undergraduate will need an advisor, a counselor or a supervisor to guide and direct this activity for a desired result and a successful ending and of course, in return the supervisor have factors to look out for in a student project, so that the aim of the project writing will not be defeated.

As a final year student planning to write your final year project, there are some factors you need to consider when trying to have a good working relationship with your supervisor and you must have the below tips at your fingertips to know what your supervisor look at for in your project.

Selecting the right topic or title:

The supervisor would want to know how knowledgeable one is, in a chosen topic and how far one can go with the topic by asking one diverse questions which could be simple or a bit tough. So one thing is to choose a right topic and another thing is to be knowledgeable about the said topic.

The relevancy of the project topic to the degree course:

This is one of the important things a supervisor looks out for in a project. A final year project must have a purpose and objectives and most importantly be problem solving and must be related to the course of study. So a project topic should be relevant and interesting.

The realistic plan for the project:

A project supervisor will always look at how realistic a project topic is. Will the project aims be achieved and at the specified time. If it will outlived the specified time such topic might be dropped and a new topic adopted to run the set time and fulfill its purpose.

Quality of research materials available:

Another factor a supervisor will consider in project writing by a student is the quality of the materials available for research on the chosen project topic, can materials and information be readily available and are those materials of high standard and convincing not just bogus and fictitious analysis but materials that research has be carried out by scholars related to course of study. So a source of materials used for a project is very important and most supervisors look out for this.

The funding channels:

Almost all project writing needs a good amount of funding to achieved the desired aim, A supervisor would always want to find out how the project will be funded, so as not to have hitches when the project is on. So to have a smooth working relationship with ones project supervisor, the funding of the project must be considered and revisited from time to time. Because a supervisor will look out for this aspect too.

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