The International Co-operative Alliance (ICA) is a non-profit international association established in 1895 to advance the co-operative model. ICA is the apex organisation for cooperatives worldwide, representing 313 co-operative federations and organisations across 109 countries (figures of May 2018). The members of the Alliance are national level co-operative federations, individual co-operative organisations and government offices concerned with co-operatives.
The Co-operative Federation of Nigeria
The National Co-operative Financing Agency of Nigeria (CFAN) is the National Financial Apex for all registered Co-operative Societies that offer financial services to their members in Nigeria. It is a creation of the Co-operative Development Policy for Nigeria 2002 as the hub of Co-operative financial activities in Nigeria. The Agency had its origin as an association of financial co-operatives in Nigeria when it was registered by the Federal Government of Nigeria in 1978 by the name National Association of Co-operative Credit Unions of Nigeria (NACCUN).
Over the years, the co-operative enterprise grew so much in Nigeria such that registered societies began to demand for more services from their national apex. Therefore, in order to satisfy the yearnings of our teeming members spread across the country and in conformity with the dictates of the National Co-operative Development Policy for Nigeria to establish a National Co-operative Financial Services provider as a one stop shop for Co-operative financial needs and other allied services.
The association was formally rebranded on the 7th April, 2015 by the office of the Federal Director of Co-operatives and thus became National Co-operative Financing Agency of Nigeria (CFAN). CFAN is therefore the Apex Association Body for all Co-operatives in Nigeria, offering financial services to all registered primary societies (SACCOS), Credit Unions, Credit Union Leagues and State Co-operative Financing Agencies. CFAN was also established to assist them in having access to cheap finance for the purpose of serving the teeming members of the registered societies that affiliate to it.
The Agency is affiliated to the Co-operative Federation of Nigeria (CFN) within Nigeria but also a member of both West African Confederation of Co-operative Savings and Credit Associations (WACCOSCA) and African Confederation of Co-operative Savings and Credit Associations (ACCOSCA) and as such, represents Nigeria on financial co-operative matters at regional and continental levels respectively.