Allah says in the holy Qur'an:

و أحل الله البيع وحرّم الربّو ...

"Allah (SWT) has permitted trading and forbidden usury" (Q 2: verse 275)

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The membership of the Society shall be open to:

  1. Any employee of LAGOS STATE CIVIL/PUBLIC SERVICE and members of the public that applied and is admitted in accordance with this Bye-Law.
  2. Any retired Staff of LAGOS STATE CIVIL/PUBLIC SERVICE who was a member of the Society before retirement provided that such retiree member shall not be eligible for any elective position.


Every member of the Society must be:

  • Of good character.
  • Of not less than 18 years of age except in the case of an heir of a deceased member, and where the Management Committee grants exemption from this qualification.
  • A salary earner in the employment of LAGOS STATE GOVT.
  • A retiree from the employment of LAGOS STATE GOVT who subscribed to have his monthly benefits accessed by the society and whose transactions are guaranteed by at least 3 current employees of LASG.
  • Any other category of person(s) approved by the Management Committee as qualified to be members of the society.
  • A member who does not belong to any other society, whose primary objective coincides with that of this society except with the permission of the Director.


  • Application for membership shall be made by obtaining a Membership/Entrance Form, which on completion shall be submitted to the Secretariat office of the society.
  • All application for membership shall be approved by the Management Committee. Every member may on admission be required to sign the Membership Card and Personal Ledger.
  • A member of this society shall not seek membership of another society whose primary objectives are the same.
  • Every application for membership shall be accompanied with a non-refundable entrance fee, which shall be determined from time to time by the management committee and specify among other things, the minimum monthly savings to be made by the applicant, which shall also be determined by the Management committee from time to time.
  • Declaration of Obligation: Every member, on joining the Society, shall render to the management, a true and complete statement of his indebtedness to any Co-operative society.


  • The liability of members for debts incurred by the Society shall be determined by the appointed Liquidator by the Director vide section 56 of the law.
  • A past member shall be liable for the debts of the society, as they existed on the date when he ceased to be a member for a period of two years from the date on which he ceased to be a member, and the estates of a deceased member shall be liable for the debts due by the society as they existed as at the date of his demise for a period of two years after his death.

Every member shall in writing nominate a person or persons to whom his shares or savings shall be transferred to in the event of such member’s death or becoming permanently unstable. The member may, at any point in time, change his nominee. The name and address of the nominee shall be entered in the Register of members and the member shall sign all alterations. If not admitted to membership the nominee shall, in case of death or permanent instability of the member, be paid the value of the share or savings, less any sum due (including 5% service charge) to the Society.


Membership shall be terminated by:

  • Death;
  • Permanent instability;
  • Expulsion under Bye-Law 4.7.
  • Withdrawal shall be by one Month’s Notice conveyed in writing to the Management Committee provided that the withdrawing member is neither indebted to the Society nor surety for an unpaid debt; and
  • Shall forfeit a sum equal to 5% of his savings balance as service charge to the Co-Operative Society.


Any past member, who is still under the employment of LASG, may re-apply for membership after a reasonable interval of not less than 12 calendar months from date of withdrawal from the society except if granted a waiver by the Management Committee.

A member may be expelled for:

  • Repeated failure to make thrift savings as laid down in Bye-Law 8.7;
  • Repeated failure to make up for debts due from him to the Society over ‘a’ reasonable limit;
  • Conviction on a criminal offence involving dishonesty like fraud, financial impropriety etc; and
  • Misconduct or other acts contrary to the stated objects of the Society or to the interests of the Co-operative Society.

When membership terminates owing to death, permanent instability or expulsion, the society shall pay as in the former, to the nominee/beneficiary, or where none has been nominated, to the legal representative and/or in the latter, to the expelled member, the sum of his credit less any sum due to the society.

To read more about membership and related issues, read the Zero Interest Multi-Co-operative Society Bye-Law.

To apply for membership, click here to fill the membership form:

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