PRESIDENTIAL ADDRESS PRESENTED ON THE OCCASION OF THE 6TH NATIONAL GENERAL MEETING OF AL-HAYAT RELIEF FOUNDATION HELD ON SEPTEMBER 5TH 2021 AT AL-HAYAT GOLDEN ESTATE, IPERIN, IJEBU-ODE/IBADAN EXPRESS WAY, IJEBU-ODE BY DR. AZEEZ OLATUBOSUN ASIF.
In the name of Almighty Allah, the Beneficent, the Merciful. I give thanks, praises and adorations to Allah, for His Mercies, blessings and Kindness on our souls since the beginning of this administration. May His blessings be upon the noble Prophet Muhammed (SAW) his household, his companions and those who follow his teachings till the day of resurrection.
I welcome you all to the 6th National General Meeting (NGM) of this Foundation. You will recall that this administration started on a fearful note with the death of my friend, my predecessor, Dr. Adepoju Rasaq Idowu (Rahimohu llahu) a day after he completed his tenure as the president of the Foundation. We were shocked and devastated by his death. May Allah forgive his short comings and uphold all what he left behind.
SPREAD AND POPULATION
Al-Hayat as we know has become a household name in terms of Islamic finance at micro level in the South western Nigeria. The Foundation is continuously growing with increased number of branch from 82 in 2018 to 98 branches as at March 2021 that cut across Ogun, Lagos, Oyo, Osun, Ondo and Kwara states while many branches await inauguration.
The population has risen from 15,678 members in 2018 to 20,524 as at March, 2021. This necessitated this National General Meeting to be by representation, because it’s not advisable to converge over twenty thousand people in a place because of insecurity situation in the country and 3rd wave of Covid-19.
MEETINGS
Each branch of Al-Hayat meets once every month for financial transactions and spiritual upliftment. The branch executive members meet with the National Executive Council quarterly to give reports and take collective decisions at moving the Foundation forward. The National General Meeting (NGM) also comes up once in three years. All members are enjoined to cooperate with their branch executive members and participate actively at their respective branches.
OUTGOING NATIONAL OFFICERS
Let me use this medium to sincerely appreciate national officers who are constitutionally leaving their respective offices today for their commitment, loyalty and selfless services to this Foundation. May Allah reward you abundantly (Jazakum llahu khayra). These officers are:
Dr. Azeez Asif Olatubosun – President
Alhaji Oladunjoye A.Y.O – National Vice President
Mr. Oladimeji Tajudeen – Vice President, Lagos zone
Alhaji Usaefat Isiaq K – Vice President, Ibadan zone
Mr. Adesina Abd’Semiu – Vice President, Abeokuta zone
Alhaji Aderinoye Lateef Omoniyi – Secretary General
Mrs. Abd.Ganiyu Halimah – Assistant Secretary General
Mr. Ibraheem Toyyib O – Treasurer
Alhaji Balogun Fatai – Chief Internal Auditor
Mr. Lawal Akinbola – Chief Financial Secretary
Mr. Adeeko Lateef – Public Relation Officer
Alhaja Adedeji Sarat I – Social Secretary
Alhaji Abd. Lateef Abd’Semiu – Missioner
Alhaji Shopeju Ismaheel – Chief Whip
Mr. Balogun Musa – Business Manager
Dr. Salako T.A – Ex-Officio member
Towards the end of the just concluded administration, in accordance with the Foundation constitution, another surah committee was inaugurated and was chaired by the out gone National Vice President to select and recommended another set of officers to serve this Foundation at national level for another three years. The following are approved new officers:
Dr. Azeez Asif Olatubosun – President
Alhaji Mudasiru Aliyu – National Vice President
Mr. Oladimeji Tajudeen – Vice President, Lagos zone
Alhaji Usaefat Isiaq K – Vice President, Ibadan zone
Mr. Adesina Abd’Semiu – Vice President, Abeokuta zone
Mr. Tanimowo Lukman – Vice President, Ijebu-Ode zone
Alhaji Aderinoye Lateef Omoniyi – Secretary General
Mrs. Abd.Ganiyu Halimah – Assistant Secretary General
Mr. Ibraheem Toyyib O – Treasurer
Alhaji Balogun Fatai – Chief Internal Auditor
Mr. Abebiyi Adeniyi (FCA) – Chief Financial Secretary
Dr. Oyesanya Sodiq O – Public Relation Officer
Alhaja Adedeji Sarat I – Social Secretary
Alhaji Otunuyi Abd’Hafeez – Missioner
Alhaji Shopeju Ismaheel – Chief Whip
Mr. Akangbe Mukaila – Business Manager
Dr. Salako T.A – Ex-Officio member
I pray to Almighty Allah to strengthen you all as you discharge your duties justly for upliftment of this Foundation.
COMMITTEES
The activities of Al-Hayat are being run through committee system. The following committees have performed wonderfully well and achieved a lot:
ZAKAT & SADAQAH COMMITTEE
This committee headed by Alhaji Abdus-Semiu Olujide Abdul-Lateef handled the philanthropic scheme of the Foundation in which many members and non-members, Muslims and non-Muslims benefited from the fund generated through the scheme. Apart from financial assistance on health, education, widow and economic empowerment given out, the committee also organized iftar-us-saim for fasting Muslims at different centres in Yorubaland.
Another social responsibility carried out by the scheme was the covid-19 support programme during the deadly corona-virus pandemic. Food items worth of N3,139,950 were distributed to vulnerable members and non-members throughout the Foundation. The total amount realized and disbursed to the needy and poor people between 2018 and 2021 was N10,091,710 only. Presently, reformation is ongoing for the advancement of the scheme by changing the status and scope to become Directorate of Zakat, Sadaqah and Waqf.
MONITORING COMMITTEE
To ensure uniformity and conformity with the operations of Al-Hayat across all the branches, the monitoring committee which serves as the quality control arms of the Foundation visits all the branches on yearly basis. Feedbacks received from branches through the committee used in making decisions and to keep watch on the branches performances. The Foundation appreciates the committee members for their sacrifice, may Allah’s blessings and favours be upon you all.
BUSINESS COMMITTEE
Allah says “He permits trade and prohibits interest” Al-Hayat operates Murabaha (cost-plus) for its business. With the Murabaha, many of our members have acquired assets such as landed property, cars, household items for their use and profit from the Murabaha are being shared among members every year. It is a win-win system. I therefore warn defaulters to change their attitudes. To the committee, I say a very big thank you.
AUDIT COMMITTEE
Al-Hayat has a good number of accountants (Professionals) among whom we selected the audit committee headed by the Chief Internal Auditor, Alhaji Balogun Fatai to scrutinize and audit all the accounts of branches every year. This is to smoothen the account operation of the Foundation and have true financial state of each branch. The committee has been wonderfully performing. Jazakum llahu khayran.
FINANCE
The audited statements of financial position as at 31st March, 2021, put the total asset of the Foundation at Two Billion, Four Hundred and Fifty Three Million, Eight Hundred and Eighty Thousand and Fifty Two Naira N2,453,880,052 only. The Treasurer of the Foundation shall give details in his reports.
EDUCATION COMMITTEE
When this administration came on board, knowledge gap on basic principles of operation were observed, the Education committee was charged to organize trainings and workshops on capacity building for BOT members, national and branch executive officers and branch clerks. The committee made use of both internal and external human resources and even collaborated with the International Institute of Islamic Banking and Finance, Bayero University, Kano for a 3-Day Thematic Training in conjunction with Department of Religious Studies, Tai Solarin University of Education, Ijagun, between 28th – 31st August, 2019. The total sum of Three Million Two Hundred and Forty Thousand Six Hundred Naira N3,240,600 only was spent on training between 2018 and March 2021. To the Education Committee headed by the Public Relation Officer Mr. Adeeko Lateef performed wonderfully well, I say jazakum llahu khayran.
SCHEMES AND PRODUCTS OF AL-HAYAT
Benevolent Loan (Qardah Hassan): the primary aim of the Foundation is to relieve our members from financial burdens. Through interest free loan of the Foundation many members have acquired basic needs of life such as house, car, business growth, house utility, payment of children school fees etc. thousands of members have enjoyed up to one million naira N1,000,000 each as interest fee loan across branches of Al-Hayat. This has raised the financial status of most of the members, especially those below the leader.
TAKAFUL (INSURANCE)
Al-Hayat operates Group Life Takaful. At the beginning of this administration, Al-Hayat modified her modus operandi of Takaful where members contribute five thousand naira N5,000 each for a life time. The pools are invested in halal businesses. When a member died and had contributed the five thousand naira, the next of kin of deceased member would be compensated with sum of one hundred thousand naira N100,000 to arrange for his/her burial (Janazah). If deceased member is on loan, part of it may be used to settle his/her debt. As at 31st March 2021 total of N2,100,000 had been paid as compensation for deceased members across all the branches. May Allah forgive all our deceased members. Branch executives are hereby urged to remit premium of your members whenever it is paid together with necessary documents.
HOUSING SCHEME
The growth in our assets has translated into many developments, part of which is where we are “Al-Hayat Golden Estate” the land had been allocated to members and branches, plot by plot. In the same way, many of our branches have also acquired many acres of land at their different locations. Electrification and water projects of this estate cost this administration the sum of N8,246,300 and N1,262,000 respectively.
BANKING SCHEME
Al-Hayat Microfinance Bank Ltd., licensed by the Central Bank of Nigeria (CBN) is one unit microfinance bank for all and sundry. The bank has recorded 39,520 deposit customers and 42,187 credit customers. The bank is presently making progress and has assisted several hundreds of customers through its Islamic bank products. However, our preparation is on top gear to get full-fledged Islamic Microfinance Bank License.
HEALTH SCHEME
Health is wealth. In a bid to care and improve on the healthy living of the people, Al-Hayat Medical Centre was established and commissioned on September 1st, 2020.The facility operates at secondary health care level fully registered by CAC and duly approved by Ogun State Ministry of Health. The Centre is loaded with experienced, seasoned and licensed health professionals.
They are doing wonderfully well in areas of surgical, medical, holistic nursing care, pharmaceutical and laboratory services. The operations of the Centre are under the watchful eyes of the Al-Hayat Medical Board. The sum of Eighty Four Million Seven Hundred and Ninety Two Thousand, One Hundred and Ten Naira N84,792,110 was expended on the hospital. It is fully funded by Al-Hayat Takaful Scheme. Please allow me to appreciate the only and ever received donation of One Million Naira (N1M) from Otunba Jimi Lawal to purchase ambulance for the hospital.
HAJJ & UMRAH SCHEME
Al-Hayat Hajj & Umrah Travels managed by the Hajj & Umrah Management Board headed by Alhaji Minkail Adedotun has worked tirelessly to convene prospective pilgrims to Hajj, but cancelation of the Hajj exercise by the authority of Saudi Arabia due to deadly coronavirus pandemic did not allow that. We pray may Allah heal the world. We appreciate our pilgrims who still have faith in us to retain their fund with us that inshaa Allah coming year they shall be first to be considered. I appreciate the members of the management board, may Allah reward you all abundantly.
SECRETARIAT
Al-Hayat Relief Foundation has increased in number, size and operations, for smooth operation and sustainability of our activities and programmes, the Foundation is designed in line with current global trend, as well as what obtains in international organizations. The National Secretariat was restructured into different departments and qualified staff were employed headed by the General Manager Mr. Raimi Waidi Omoniyi to manage the affairs of the Foundation. Alhamdulillah the staff are up to the task.
ACHIEVEMENTS
“A deed with a good intention is like a secret between you and Allah” Alhamdulillah today, Al-Hayat reduces poverty, creates employment, creates awareness for Islamic finance, enhances economic activities among Small and Medium Scale Enterprises (SMEs), inculcates saving habit into lives of the members, develops Islamic moral virtues of its members and complements government advocacy on financial inclusion as both branches and individual members are mandated to open bank account for their financial transactions.
FUTURE PLAN
- The most paramount plan of Al-Hayat now is to build a big ultral modern Masjid in this estate that will be serving this community. May Allah make it a reality “wama dhalika ‘ala llahi bi’azeez”. I enjoin all the members to be committed to this God’s Project. Please spend your money while alive to build a mansion for yourself in Al-Jannah.
- We are now knocking the door of Central Bank of Nigeria (CBN) to obtain a full-fledged Islamic Microfinance Bank License which we believe it would be achieved soon.
- Al-Hayat promises to join hands with other sister Islamic cooperative societies in Nigeria to actualize and register Nigerian Association of Islamic Cooperative Societies with CAC, Abuja.
May Allah answer our prayers.
APPRECIATION: Allah says if we are appreciative He will increase His bounties on us. We use this medium to thank Allah and appreciate His favour on Al-Hayat Relief Foundation and the entire members. The Chairman of day, Professor Lai Olurode and the Guest Speaker, Professor Abdur-Razzaq Alaro you are highly appreciated for honouring our invitation, thank you very much. We thank our professional partners, our legal adviser, Barr. Bisi Abdul-Azeez and our external auditor Iwaloye Azeez & Co. Our appreciation also goes to the Grand Chief Imam of Ijebu land, Sheikh Miftau Ayanbadejo and the entire League of Imams and Alfas of Ijebuland for their fatherly support. Our appreciation also goes to all our guests, the royal fathers, our associate members. I sincerely thank the outgoing NEC members for their selfless services to the Foundation. The NGM Committee members and other committee members are all appreciated. May Almighty Allah reward you all abundantly. My appreciation also goes to the Secretariat staff for their services. All chairmen of branches and entire members of Al-Hayat Relief Foundation for their cooperation, I thank you all for your loyalty and support. May Allah’s favour never cease on you. Jazaakum llahu khayran.
Azeez Asif Olatubosun (Ph.D. MCIB)
President, April 2018- March 2021.