Nigerian Navy Multipurpose Cooperative Society Limited was established and incorporated in order to serve as a vehicle for the approval of the Nigerian Navy Microfinance Bank Limited which is mandatory requirement by the CBN. This gave rise to its registration on 18 Oct 13 with FCT Registration Number 19918 and established by the Nigerian Navy vide NNO 3/16 dated 17 Mar 16. The Nigerian Navy Holdings NHL was established as a Government Trading Enterprise vide NNO 32/13 with 9 subsidiary companies, namely: Naval Dockyard Limited, Navy Hotel and Suites Limited, Navy Microfinance Bank Limited, Navy Maritime Services Limited, Navy Engineering Services Limited, Navy Multipurpose Cooperative Society Limited, Naval Building Construction Company, and Naval Clearing and Forwarding Services Limited. The objective of the NHL is to achieve efficiency in services delivery, coordination and consolidation of Internally Generated Revenue (IGR) of all subsidiary companies for better accountability, effective management and ease of administration. The Nigerian Navy Multipurpose Cooperative Society is aimed at improving the socio-economic life of the personnel; disburse loans for productive purposes and other welfare facilities at fair terms and reasonable rate of interest.
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