How much money is in the account of the Stardom Cooperative Society, as discovered by the board?

Answer Details

The board discovers that the Stardom Cooperative Society holds N95 million in its account. Of this total, over N50 million has already been loaned out to staff members. This is a surprisingly large sum for a school staff cooperative, and its discovery is what prompts the MD to convene a board meeting to discuss the risks and governance of the cooperative.

The sheer size of the fund alarms the board because it represents a significant financial pool that, if mismanaged, could expose the school to serious liability. The fact that more than half of the money has been disbursed as loans to staff raises additional concerns about repayment risk, especially given incidents like Mr. Nku absconding abroad with a N2 million loan.

The other figures (over N50 million, N200 million, and N45 million) are not the total amount in the cooperative's account. The N50 million figure refers to the amount already loaned out, not the total holdings.