FIRST NATIONAL GENERAL MEETING 

CHAIRMAN’S REPORT ON THE OCCASION OF THE FIRST NATIONAL GENERAL MEETING HELD ON SUNDAY 17TH MAY 2006 AT THE CENTRAL MOSQUE HALL OYINGBO, IJEBU-ODE, OGUN STATE, NIGERIA

OPENING:

All praise is due to Allah, our Rabb, besides whom there is no other creature worthy of worship. We give thanks to Him for guiding us on his path, divinely directing our personal and social affairs and spiritually protecting us against all evils and abundantly providing for our needs. We once again pledge that our worships, our glorifications, our existence in this life and in the hereafter shall be for Allah alone and it is from Him that we shall continue to seek for guidance and assistance.

ORIGIN:

 The idea of establishing this society Al-Hayat Relief was muted by a brother, Alhaji Azeez Asif Olatubosun consequent upon his experience of the agonies faced by our Muslim colleagues who are forced to take loans from shylock lenders who charge exorbitant interests on the money loaned out to people which of course adds more problems to their cases and again is against the injunction of Allah.

This also promotes indolence in any society, encourages joblessness and opens the citizenry to high risks of inflation, shortage of essential commodities, in-pending famine and high rate of robbery cases and other social vices.

It is in the bid to reduce these vices first among us and to acquire wealth, take care of our welfare, purge off the poverty biting hard on the Muslims and meet other financial obligations without going against the injunction of Allah that prompted us to form this association.

WHEN ESTABLISHED:

 This association was established on Saturday 15^th March 1997, with six members holding the inaugural meeting at no. 3, Agbojo Street, off Oludiya Street, off Ondo-Road, Ijebu-Ode. The first protem officers were T.A. SALAKO (CHAIRMAN), R.I. ADEPOJU (SECRETARY) and AZEEZ A.O. (TREASURER). Other pioneer members were Mr. Alim Habib, Mrs. B.A. Salako and Mrs. M.O. Azeez.

The first meeting deliberated much on the merits and the demerits of the nature of this type of association which would be giving out loans on interest free basis. It was in this meeting that the name Al-Hayat Relief Group was arrived at and the motto as Assidiku amanat – “Truth is Trust”.

When the number of members increased and the place could not accommodate us, we sought for approval to use ALAMSEK PRESS LTD., situated at 74B, Ondo Road, Ijebu-Ode for holding our monthly meetings and this was granted. We use this medium to thank the management of ALAMSEK for coming to our aid at a dire time. Jazaka llahu Khayran. We also use this medium to thank the late Imam Ayeni and Jamaat Imepe mosque who granted us permission to hold our monthly meetings in their mosque at a time when ALAMSEK could no longer accommodate our members due to increase in membership.

AIMS AND OBJECTIVES OF THE ASSOCIATION

1. To champion the course of Islamic Economic System.
2. To give out financial relief to registered members on interest free basis.
3. To carry out welfare services on members.
4. To propagate the religion of Islam through dawah and financial assistance to the needy.
5. To initiate different schemes beneficial to members.
6. To observe all the pillars of Islam.

MEMBERSHIP:                                                                                                          

Membership is opened to practicing Muslims, working class, introduced by any registered member of the foundation. In the 1st financial year, the number of members rose from 6 to 21. As at today, the total number of members from the five branches of the society is 487:

1. Headquarters Branch     –  177
2. Idomowo Branch     –  115
3. Osoba Branch     –   80
4. Oshimore Branch      –   85
5. Molode Branch      –  50

Total                                    –  487

ASSOCIATE MEMBERSHIP:

Associate membership is granted to a few of our members. By this, such members are exempted from our monthly meetings. But they are entitled to other rights and privileges like any other member except that they pay double amount for development levies. However, an associate member is to ensure that one regular member helps him to co-ordinate and oversee his transactions within the society. Some of our associate members are Dr. I.A. Seriki, Alhaj. G.A. Ahmed, Alhaj M.G. Ayanbadejo, Imam N. Eyinfunjowo, Justice A. Adenariwo, Prince Abdu Rasheed Kunle Onisesi to mention a few.

NEW BRANCHES:

To open a new branch of AL-HAYAT RELIEF FOUNDATION anywhere, a letter of request will be presented to the National Executive Council. Secondly, the intending members would get a group of committed and practicing Muslims of about 10 in number and find a suitable place where they can hold monthly meetings. The NEC thereafter shall inspect the place, send a competent hand as the chairman and then inaugurate the branch.

MEETINGS:

Al-Hayat holds its meeting once in a month on the 1^st and 2nd Sundays of every month. Reports from all the branches indicate that members’ attendance and participation were impressive, enthusiastic, highly challenging and encouraging. I use this medium to call on members not to rest on our oars.

PATRONS:

The association’s patrons since inception remain as: Alhaji Mufutau Ayanbadejo, Eketa Adinni of Ijebuland. Engineer Muhammad Ishola Abbas, Ikenne L.G Ikenne, Ijebu. Their role is to give fatherly advice and inform the society of ample opportunities.

LEGAL ADVISERS AND AUDITOR:

 At the inception, the association appointed Alh. R.A. Bello and M.A. Talabi who have great wealth of judicial and legal experiences as legal advisers while Mr. M. Ajimotokan of the Union Bank was appointed the first External Auditor. Today, Mr. Yusuf Adeboye of Tai Solarin University of Education, Ijebu-ode is the External Auditor.

REGISTRATION OF THE SOCIETY:

Before now, the society has been carrying out activities and celebrations locally at the branch levels due to the delay in registration but today, following the completion of the registration of our society with the Corporate Affairs Commission Abuja and subsequent issuance of our certificate, all the branches have been mandated to close their account by March 2006 and converge here for this 1st National General Meeting.

Today marks another landmark in the history of Al-Hayat Relief Foundation because the National Executive Council of the association shall be inaugurated. The Shura Committee saddled with the responsibility of selecting the pioneer executive officers for NEC after series of meetings arrived at selecting the following people to be sworn in today as the first set of NEC officials for Al-Hayat. They are:

1. President  –        T.A. SALAKO
2. Secretary Gen –        R.I. ADEPOJU
3. Treasurer –        A.O. AZEEZ
4. Vice President –       VACANT
5. Sec. Gen –      ALH. A.Y.A. ATORO
6. Financial Sec –       OLUGBEDU
7. Social / Welfare Sec –      B.K. BALOGUN
8. Publicity Sec. –      ETTU AZEEZ
9. Internal Auditor –      M.A. SABITU
10. Missioner        –      H.O. TIJANI
11. Business Manager –     A. SHAMSIDEEN
12. Chief Whip                      –     A.Y. O. OLADUNJOYE
13. One Ex. Officio member –      Vacant

 

 

BUSINESS:

The Business Committee of the Headquarters branch began operation early enough in the last financial year and this was responsible for about 43.7% profit made during the year. This business was restricted within members because of the five month installmental pay period. Items of business were:- Color Television, Video Tape, V.C.D players, Generators, Handsets and lines, motor cycles, set of chairs, pumping machines, G.P. tanks, Stabilizers, Rechargeable lamps, fans, blenders, irons, kitchen item, tyres, Clippers, antenna, gas cooker, mattresses and pillows. Also, the Idomowo Branch has a shopping center at Aiyegbami Street opposite the New Market, Ita-osu. Phone call services and other business services are rendered there. Other branches are as well thriving in their business activities which are the back bone of Al-Hayat Relief Foundation’s achievements.

GROUP LIFE INSURANCE POLICY:

The society operates a Takaful-Group life insurance scheme locally at branch levels. This shall later be centrally administered by the national executive council. Studies have shown that large participation favours the success of any insurance scheme. I now use this medium to appeal to all branches’ chairmen to ensure that their insurance premiums for April 2006 – March 2007 financial year are paid by members latest by June 30th 2006. Other insurance scheme beneficial to members are already in the pipeline and they shall be made known to us soonest.

FINANCE:

The society’s financial record as at March 2006 put the total income at #12,903,843.79 and expenditure at #11,146,478.50. This is a reflection of all the branches account for the financial year ended March 2006. The treasurer of the association shall give the details in his reports.

SELF DEVELOPMENT SCHEME:

The society operates a self-development scheme designed to assist members take care of some urgent needs and help the less privileged members take off micro business. It ranges from #2,500 and #10,000. Beneficiaries are to pay back within 5 months the exact amount collected without interests. A total sum of #1,197,500 was given out as S.D.S. for the year.

INTEREST FREE LOANS:

In line with our constitution and with the spirit of Islam, our members enjoyed interest free loans of #8,750,900 in the past financial year. Putting S.D.S and normal loans together, it means our members enjoyed a total sum of #9,948,900 altogether on interest free basis.

I wish at this juncture to call on members to always pay back promptly loans taken so as not to deny other intending loan seekers the opportunity of doing so.

May Allah give us the financial strength and high sense of paying back our loans.

SHARES IN JAIZ INTERNATIONAL PLC. :

Al-Hayat is aware of the efforts made by JAIZ international to raise #25 billion capital base required by the Central Bank of Nigeria for any bank to be licensed to operate in the country. This has resulted into merging of the banks together. For instance before 6th July, 2004, reports showed that there were 89 banks with over 3,300 branches in the country. But today following the new capital base of #25 billion for each bank by CBN, 25 banks emerged as at 31st December 2005 deadline.

The Headquarters Branch of Al-Hayat bought #20,000 worth of shares in 2003 and we are still intending to buy more before the second quarter of 2006 runs out.

We are using this medium to call on the Members, Boards of Directors of Jaiz International PLC to establish a branch of Jaiz International Bank PLC here at Ijebu-Ode when it invariably begins operation. This is because Al-Hayat members will serve as standby and ready-made customers for Jaiz International Bank PLC here in Ijebu-Ode. The pains and agonies and the enlightenment campaigns which Jaiz will embark upon to attract people and customers have all been undertaken by Al-Hayat in its past nine years of operation.

It is our belief that our father Dr. Abdul Lateef Adegbite who is the Chairman of this occasion will use his good office and influence to make this request a reality and hence satisfy the yearnings of Muslims in patronizing a purely Islamic Banking System.

NAPEP:

Al-Hayat Relief Foundation recently learnt of NAPEP programme floated by the Federal Government of Nigeria to assist less privileged members of the society through interest free loans granted religious bodies to distribute among members. We use this occasion to call on the Ogun State NAPEP Coordinator that this is a duty which Al-Hayat has been performing about nine years ago. Hence we appeal to NAPEP Coordinator to extend this opportunity to the members of Al-Hayat Relief Foundation.

OUR BANKERS:

Al-Hayat Relief Foundation operates accounts with WEMA BANK PLC, FIRST BANK PLC, and UNITED BANK FOR AFRICA PLC all in Ijebu- ode. We have purposely invited our bankers to grace this occasion to enable them know us better, their customer. One of the strong principles in the banking industry today is for the banks to know their customers. We thank our bankers who have sent in their representatives to grace this occasion. It is our belief that our members would receive better services henceforth and that the banks would not hesitate to give us useful advices where need be for further improvements.

WITHDRAWAL:

About five members were ejected from the society including those who were advised to voluntarily withdraw due to their perpetual absence from meetings and constant failure to fulfill their financial commitments.

APPRECIATION:

We thank Allah for His mercies upon us, we thank our legal advisers for their continued supports, we also thank our patrons in particular Alhaj Imam Ayanbadejo Eketa Adinni of Ijebu-land for his spiritual and fatherly support. We equally express our sincere appreciations to all our guests especially Dr. Abdul Lateef Adegbite, Honorable Commissioner for Finance, Professor Tella Sharafadeen, Giwa Muftau Oseni and others. May Allah assist you in all your endeavours.

On behalf of the executive body, I commend the efforts of our co-operating members for their understanding, maturity, encouragement, and positive attitudes during monthly meetings and also for their generous donations and moral support to make this day a success.

It is my observation from the nine years’ experience of this association that many Muslims intend to be good, they are ready to be good and will choose and remain to be good with the convenient opportunity and good environment like the one created by AL HAYAT RELIEF FOUNDATION.

May the Almighty Allah create a more conducive and convenient environment and more suitable opportunities for us as Muslims. May He continue to strengthen the cord of Unity, Peace and Love among us. May He grant us sound health in sound body, long life and prosperity and all the good things of this world and that of the hereafter.

Subhana rabbika rabil izzati ama yasifuna, wa sallamu alali murisalina, wali hamdu lillahi rabbil alamina.

1. A. SALAKO

(CHAIRMAN, March 15th 1997 to March 2005)

(President, APRIL 2006 to March 2009).