Insiders have revealed to Mmegi that the society has failed to host its annual general meetings (AGMs) as required by its constitution, something that has created a loophole for maladministration to mushroom. The current board has remained in office for three years, an arrangement critics describe as illegal. Meanwhile, internal divisions have deepened within the society. In late December, the board suspended several committees after they petitioned it for allegedly disregarding the society’s bye-laws. The suspended committees include the investment, credit, and supervisory ones. What worries members most is that the supervisory committee is responsible for monitoring if the board is in line with the constitution, to protect interest of members, advise, and to ensure that it does not make errors. Instead of convening the mandated AGM, the board is accused of opting to call a Special General Meeting (SGM), a move that has further inflamed tensions. According to a source, the board is now being accused of operating without a proper mandate. Moreover, it is alleged to have overspent and misused the society’s funds.
“Recently, they failed to account for more than P2 million,” the source said. “Committees are supposed to advise the board, but that role has been undermined. As a result, the matter has been escalated to the Ministry of Trade and Investment. In the meantime, members cannot even access loans; the situation is dire.” In a letter written to Department of Co-operative Development (DCD) leaked to this publication dated October 28, 2025 reads; “the Supervisory Committee of the BPOSACCOS writes to formally report the Management Board’s persistent non-compliance with the Society’s Bye-Laws, disregard for regulatory guidance, and conduct that has become prejudicial to the interests of members and the reputation of the Society”.
