The Federation evolved from the old, Lagos Co-operative Thrift and Credit Union Ltd which was established in 1952 and registered in 1956 as the parent body for all the cooperative societies in the then Lagos colony.
After the creation of Lagos State in 1967, Lagos Co-operative Thrift and Credit Union Ltd became Lagos State Co-operative Union Ltd which was later changed to Lagos State Co-operative Federation Ltd (LASCOFED), like every other state co-operatives apexes, it was duly registered by the Director of Cooperative Services on May 3, 1982.
Lagos State Cooperative Federation Ltd. (LASCOFED) is an independent Non-Governmental Organisation (NGO) established in line with international and national best practices as the umbrella body to unite, represent and serve cooperative societies in Lagos State. LASCOFED like all other cooperative societies in the state is registered under the Lagos State Cooperative Societies’ Laws.
The Co-operative Movement in the State is a reference point for economic empowerment programmes in Lagos State and also in Nigeria as the member cooperative services give out start-up funds and affordable loans to cooperators.
All cooperative societies registered in the state are statutory member affiliates of LASCOFED. Members of LASCOFED are found in all sectors of the economy including agriculture, banking, health, transport, the informal sector, corporate organisations and industries as well as Federal and State Ministries, Departments and Agencies.