FOURTH NATIONAL GENERAL MEETING 2015
PRESIDENTIAL ADDRESS
PRESENTED ON THE OCCASION OF THE 4TH NATIONAL GENERAL MEETING OF AL-HAYAT RELIEF FOUNDATION HELD ON AUGUST 2ND, 9TH AND 23RD 2015 AT THE LIBERTY STADIUM, IBADAN; MOSHOOD ABIOLA POLYTECHNIC, ABEOKUTA AND OTUNBA DIPO DINA INTERNATIONAL STADIUM, IJEBU-ODE RESPECTIVELY, BY DR. ADEPOJU ABDUR-RAZAQ IDOWU.
OPENING:
I seek refuge in Allah from shaytan the accursed. In the name of Allah, The Most Beneficient, The Most Merciful. All praise and adorations are due to Almighty Allah. The Lord of the Universe for His Mercies and Kindness on us in the last three years. We appreciate Him for having kept us alive though some of our members and colleagues have not been fortunate. Some wished to be here today but Allah’s plan is different from their wish. May His Name be exalted and may He forgive their shortcomings. I pray for Allah’s continuous sustenance, guidance and protection over those of us who are still living.
I seek the blessings of Allah on the noblest of souls, Prophet Muhammad (SAW), his households, his companions and those who follow his path till the Day of al-qiyamah.
AL-HAYAT RELIEF FOUNDATION:
Alhamdu lillah. The foundation which began in March 1997 as a child’s play and a dream has flourished into a household name in the Southwest of Nigeria. From 38 branches in 2012, it has grown to 60 branches cutting across Ogun, Oyo, Lagos, Ondo, Osun and Kwara states. The membership strength has risen from 6000 in 2012 to over 11 000 and that explains why this National General Meeting had to be decentralized.
MEETINGS:
The branches of Al-Hayat meets once in a month and since the last NGM branches held their meetings regularly. Our meetings are strategically created for spiritual upliftment and mundane growth. Reports at our disposal signified that members’ attendance and participation at these meetings have been very impressive and encouraging. I urge our members to keep this us.
OUTGOING ELECTED OFFICERS:
It is my joy to report that the officers sworn in at the last NGM and who are officially leaving the office today have been marvelous in the discharge of their duties as National Officers. I thank all of them most sincerely and pray that Allah would thank them the more. The outgoing officers are:
- President – R.I. Adepoju
- Vice-President – O.K. Adeko
- Secretary Gen. – Abdul Lateef Adeeko
- Sec. Gen. – Alhaji O.B. Bakare
- Treasurer – Alhaji F.A. Balogun
- Financial Sec. – Abdur Rasheed Dawodu
- Internal Auditor – J.O. Salisu
- Chief Whip – A.G Nurudeen
- Social/Welfare Sec. – Ademola Shafi’i
- Publicity Sec. – T.W. Akindele
- Missioner – Kamaldeen Ademolu
- Business Manager – Alhaji Bakre Fasasi
- One Ex. Officio Member – T.A. Salako
Meanwhile another Shura Committee headed by Alhaji Abdul Fatai Balogun was inaugurated towards the end of the financial year. I am happy to report that the committee did a thorough job and came out with the following names of members who would run the affairs of our Foundation for another three years at the national level. The new officers are:
- President – R.I. Adepoju
- Vice-President – A.Y.O. Oladunjoye
- Secretary gen. – Adeeko Abdul Lateef
- Sec. Gen. – Mr. S.A. Shuaib
- Treasurer – Alhaji Balogun Abdul Fatai
- Financial Sec. – Dawodu Abdul Rasheed
- Internal Auditor – Salisu Jamiu
- Chief Whip – Nurudeen A.G.
- Social/Welfare Sec. – Alhaji Ademola Shafi’i
- Publicity Sec. – Akindele Taiwo Waheed
- Missioner – Alhaji Abd Semiu Abdul Lateef
- Business Manager – Bakre Fasasi
- Ex-Officio Member – Salako T.A.
COMMITTEES:
Al-Hayat Relief Foundation runs on committee system and it is worth highlighting the achievements of the committees in the past three years.
BUSINESS COMMITTEE:
The foundation, being a zero-interest cooperative organization relies solely on business. The business activities of all our branches thrived well in the last three financial years and members have always taken profits at the end of financial year. Today’s celebration would not be different, members will take home profit. The highest of profits to be taken in some branches is #1267.50 per unit share. This is a better improvement on the past AGM. It is worth mentioning again that these profits were generated from lawfully earned incomes. The foundation used Islamic instruments and financial modes like Musharakah, Mudarabah, Murabahah and Ijarah to generate the profits.
It must also be reported that through these businesses many of our members have become home owners, car owners, business owners, etc. A number of our members have also gotten bicycles and tricycles courtesy of Al-Hayat Relief Foundation. Our prayer is that more of our members would be empowered in the coming years.
Let me however use this medium to appeal to our members to always pay back promptly when items are purchased. Do not let us call on you before you carry out your part of paying back when we have been kind to honor your request. This will not only make you a good Muslim but will also make it easy for other intending buyers to have the opportunity of doing so. Don’t forget that we do not receive money from any quarter.
GROUP LIFE INSURANCE (TAKAFUL) COMMITTEE:
The Foundation operates a Takaful Group life insurance scheme which is centrally administered by NEC. The first five year plan which expired in 2012/2013 financial year was impressive. After the expiration of the plan, every participant in the scheme not only got their contributions back but also shared from the profit accruing from the investment. This was in addition to having shared in the agony of their brothers and sisters who died during the duration of the plan and having indemnified them. The outcome of the first plan encouraged us and another five year plan is on. We can only urge our members to pay their premium promptly and that branches remit such in time.
ZAKAT AND SADAQAT COMMITTEE:
Al-Hayat’s Zakat and Sadaqat Committee has been wonderful and both members and non-members have benefitted from the fund. However, because of the socio-economic condition of the country, there has been increased demand for this fund. Muslims and non-muslims come from different places seeking assistance but it has been difficult meeting their demands. One can only urge our members and other well meaning Muslims to respond positively to this fund and increase their contributions to the fund. I must also report that just this last Ramadan, the committee, from a special Iftar fund contributed by Al-Hayat members across branches, organized Iftar-us-saim programme for fasting muslims at the pavilion of Ijebu-Ode Central Mosque. The programme was attended by close to 1000 Muslims and by our assessment, it was a highly successful event.
I pray for Allah’s rewards for the Chairman, Alhaji Ademolu Kmaldeen and other members of the committee. I again urge our members to respond very well to our Zakat and sadaqah scheme.
MONITORING COMMITTEE:
The monitoring committee headed by Engr. Dhikrullah Adeko performed wonderfully well in the last three years. The committee serves as the quality control body for the foundation. Through it we were able to get critical feedbacks from our branches. Such cumulative feedbacks have been useful in keeping watch on the performance of our branches and it is what we have used to select the best branches that will be rewarded today. On behalf of the foundation, I thank all members of the committee and I ask for Allah’s favor on them and their entire households.
AUDIT COMMITTEE:
The Audit Committee is headed by the foundation’s internal auditor, Mr. Salisu Jamiu. The Committee has been on the move in the last three years. The software package for Al-Hayat accounts had been modified to care of other things due to complaints from the end users. The committee also held seminars and workshops for accounts handlers in the foundation. This is done purposely to smoothen the operation of the foundation. May Allah reward all the members of the committee and abundantly.
FINANCE:
The foundation’s consolidated account as at March 2015 was put at #873,541,505.00. This is a reflection of all the branches account for the financial year ended March 2015. The treasurer of the foundation shall give the details in his reports.
YAT WATER:
I wish to allay the fears of our members who are owners of shares in this venture that their investments have not gone down the drain. What we have done is to concession the venture out when we were faced with the challenges of monitoring the operations of the factory. With the concessioning, the pure water business is bouncing back and we are very hopeful that very soon shareholders will have returns.
SELF-DEVELOPMENT SCHEME:
The foundation operates a self development scheme designed to assist members take care of some urgent needs and empower the less privileged members take off micro businesses. It ranges from #10,000 to #20,000. Beneficiaries are to pay back within 10 months the exact amount collected without interests. A total sum of #14,921,000 was given out as S.D.S for year.
INTEREST FREE LOANS:
The major aim of Al-Hayat Relief Foundation is to give out interest free loan to members. In line with our constitution and with the spirit of Islam, our members enjoyed interest free loans amounting to #576,327,000 in the last financial year. Putting S.D.S and normal loans together, our members enjoyed a total sum of #591,248,000.00 on interest free basis. By this, Al-Hayat has attained a feat that is unprecedented in the history of Islamic finance in Nigeria. It would not be an exaggeration to say that our foundation, has no rival in this regards.
AL-HAYAT MICRO-FINANCE BANK:
The Micro finance bank which we had worked assiduously towards started operations on December 2nd 2013 after it had been licensed by the Central Bank of Nigeria. This was preceded by series of inspections. I am happy to report that the bank is doing fine and it is first of its kind in the state and one among very few in the country. The products were designed for halal patronage and it is one bank for all Muslims.
AL-HAYAT GOLDEN ESTATE:
Our effort to ensure that our members become house owners is yielding results on the acquired 23 hectres of land at Ilefun Quarters along Ijebu-Ode Ibadan express way. Some of the members that have been allocated plots on the site are already developing their plots, some are nearing completion and others have been encouraged to start something on their plots. Aside this, the foundation is putting up ten sample two bedroom flats for sale to interested members. May Allah count us among the lucky ones.
OUR BANKERS:
Al-Hayat Relief Foundation operates accounts with virtually all the banks in Ijebu-land and other banks that exist where our branches exist. Our relationships with all the banks have been very cordial. We appreciate their supports and understanding in the past. It is our prayer that we shall continue to enjoy each other in all regards.
APPRECIATION:
We thank Allah for His mercies on us, we thank our legal advisers, Bisi Abdul-Azeez Chambers and our external auditors for their continued supports for our foundation. We thank our spiritual fathers; the Grand Chief Imam of Ijebu land Sheikh Alhaji Imam Abdur Razaq Salahudeen, the Noib of Ijebu land, Alhaj Miftah Ayanbadejo and the Eketa Adinni of IJebu-Land, Alhaj Nurain Eyinfunjowo for their spiritual and fatherly support. We also thank our royal fathers who are with us. We thank all our associate members. I thank all the outgoing members of NEC for their selfless service to humanity. I thank all the members of the NGM committee for a job well done. I appreciate all our Chairmen and I pray for Allah’s abundant favour on all of them. To all our members and everyone who has contributed morally and financially to make this day a successful and memorable one, I say Jazakumullah khayran.
ADEPOJU, R.I. (Ph.D)
(President April 2012-March 2015)