Author: The Nation

  • Oyo Assembly suspends two council bosses

    Oyo Assembly suspends two council bosses

    Oyo State House of Assembly has asked the Chairman of Akinyele Local Government, Taoreed Adedigba and his counterpart in Ibadan North Council, Agba Egbe, to step aside pending investigation into alleged gross misconduct and misappropriation of funds levelled against them.

    This followed deliberation on the floor of the House during plenary yesterday.

    Read Also: Ekiti Assembly to recover legislative quarters from police

    The Assembly, however, directed the vice chairman in Akinyele Local Government to take over the council, while the secretary takes over the Local Council Development Areas (LCDA) 1 and the assistant secretary to take over LCDA 2.

    Allegations of impunity, abuse of office and misappropriation of local government funds were levelled against them and this necessitated their suspension.

    The Assembly has constituted an ad hoc committee headed by a member, Peter Ojedokun, to investigate the allegations.

  • Chrisland pupils shine in Cambridge examinations

    Chrisland pupils shine in Cambridge examinations

    Following their stellar performance in the 2022 Cambridge IGCSE and Cambridge AS Level Examinations, Mmesomachukwu Okonkwo of Chrisland High School VGC and Oluwabukolami Adeyemi of Chrisland Pre Degree College Lagos, have received the British Council Outstanding Cambridge Learner’s Awards.

    Having gained the highest mark in English as second language (Speaking Endorsement) in IGSCE, Mmesomachukwu Okonkwo got the Top in the World award, while Oluwabukolami Adeyemi, who gained the highest mark in the world in the Cambridge International AS Level Law, got the Top in the World award as well as the High Achievement Award for Cambridge AS Level Psychology.

    The two students were the cynosure of all eyes at the event witnessed by top officials of the British Council, proud parents and guests.

    The Cambridge examinations are conducted in more than 145 countries worldwide.

  • Leadway Assurance, others pay N535m Group Life Insurance to 68 Police beneficiaries

    Leadway Assurance, others pay N535m Group Life Insurance to 68 Police beneficiaries

    A CONSORTIUM of insurance companies has disbursed N535 million as Group Life Insurance claims to 68 beneficiaries of the Nigerian Police Force (NPF).

      They include Leadway Assurance Company Limited, Sanlam Insurance, Mutual Benefits and LASACO.

    At a ceremony at the NPF’s Headquarters in Abuja, the Acting Inspector-General of Police, Olukayode Egbetokun, stressed that his leadership would “promptly fulfil the obligation of providing insurance and other benefits to Police personnel, who have sacrificed immensely for our beloved country by providing comprehensive welfare support aimed at creating an environment where every officer feels valued, protected, and motivated to give their best in service to our nation”.

    He praised the deceased and injured officers for their valour, dedication, and display of heroism during their service. He commended Leadway and the consortium of insurers for their professionalism and commitment to prompt claims payment.

    Also, the Managing Director/CEO of Leadway Assurance, Mr. Tunde Hassan-Odukale, who represented the consortium, said: “We extend our deepest condolences to the families of the departed officers who made the ultimate sacrifice in the service of our nation. As an organisation, we are fully committed to fulfilling our promise of providing financial security to our policyholders.

    “This prompt claim payout to our heroes further demonstrates the benefits of insurance and our unwavering dedication to supporting the families left behind.

    “This consortium is proud to be at the vanguard of protecting the financial well-being of the personnel of the Force and their families. We believe in the importance of honouring our obligations promptly and stand as beacons of trust for the insurance industry as an assured partner in safeguarding the wealth and well-being of Nigerians.”

    Hassan-Odukale further emphasised the importance of Group Life Insurance as a safety net for Nigerians putting in the work, especially those who stay awake to guarantee the citizens’ peace of mind, no matter the risk to their lives.

    “Group Life Insurance plays a crucial role in protecting the financial wellbeing of families when they face the loss of a loved one or are no longer able to cater to their loved ones or families as a result of death or fatal injuries. Our hearts and prayers go to our heroes, and we hope this payment will provide comfort and fortitude to the families as they navigate the future”, he added.

  • CPS Pack for retirees: What you need to know about pension payment options

    CPS Pack for retirees: What you need to know about pension payment options

    The Contributory Pension Scheme (CPS) Retirement Pack is a joint publication of the National Pension Commission (PenCom) and the National Insurance Commission (NAICOM).

    The Pack is a guide for prospective retirees under the CPS. It provides information on the two modes of accessing retirement benefits: Programmed Withdrawal (PW) and Retiree Life Annuity (RLA). The Retirement Pack helps would-be retirees to make informed decisions.

    Pension Fund Administrators (PFAs) are mandated to make available the Retirement Pack to potential retirees to guide them towards a smooth retirement process. The PFAs are to host the Retirement Pack on their websites for easy access to potential retirees. The Pack contains Frequently Asked Questions (FAQs), features of PW and RLA and details of the roles of the prospective retirees and the PFAs in facilitating the payment of retirement benefits.

    As contained in the CPS Retirement Pack, PW is a product offered and administered by the PFAs under the regulation and supervision of PenCom. PW offers a retiree the option of a lump sum and regular monthly or quarterly pension payments. In contrast to the PW is the RLA, a product of Life Insurance Companies regulated by NAICOM. Like PW, monthly or quarterly payments are made to the retiree who chose RLA.

    The retiree under PW enjoys periodic pension enhancement resulting from increased investment returns. Furthermore, retirees under PW may move to RLA after 12 months of being under PW. Finally, under PW, if a retiree dies, the balance in his RSA is paid to the legal beneficiary. Depending on the RLA product, there may also be periodic pension enhancements. It is pertinent to note that a retiree on RLA cannot move to PW. The retiree can only move to another RLA provider after at least two years with his existing provider. PenCom has put in place Administrative Sanctions to penalise PFAs that fail, neglect, or refuse to enlighten would-be retirees on the features of PW and RLA.

    RSA holders with at least six months to retirement should acquaint themselves with the modes of accessing their retirement benefits. Furthermore, RSA holders should get all documents required to access their benefits ready. The documents include a Notice of Retirement from the Employer, a current Payslip, and Evidence of Accrued Rights or acknowledgement of Indebtedness (for employees of Treasury Funded government agencies). The retirement Pack provides the list of required documents. So, the first step for a prospective retiree is to obtain the Pack from his PFA.  RSA holders who are already retired should approach their PFA and get a Data Confirmation letter and Standard Retirement Notification. After that, they can choose their preferred mode of pension payment and apply for their retirement benefits.

    Retirees may visit their PFAs’ websites to download the retirement pack or the PFAs to obtain it. Should a retiree under PW have complaints or concerns, he should direct such matters to his PFA. Still, if the retiree is not satisfied with the response of the PFA, he can escalate the issues to PenCom for intervention. Similarly, a retiree under RLA is expected to contact his RLA provider on any matter relating to his benefits. If not satisfied, he can escalate the issue to NAICOM for resolution.

    PenCom remains committed to ensuring RSA holders receive their retirement benefits as and when due.

                     •Culled from PenCom

  • Pension fund hits N16.12tr

    Pension fund hits N16.12tr

    Pension fund assets have continued on its growth trajectory hitting N16.107 trillion in May, this year from N15.771 trillion the previous month.

    This represents a growth of N336 billion and 2.13 percentage growth

    Also, Retirement Savings Account (RSA) membership moved to 9.99 million during the period under review.

    PenCom stated this in its monthly report on pension funds industry portfolio for the period ended May 31, 2023.

    The pension sector regulator maintained that out of the N16.107 trillion recorded in May, Pension Fund Administrators (PFAs) invested 10.43 trillion in Federal Government of Nigeria (FGN) Securities.

    A further breakdown of the report showed that N10 trillion was invested in FGN bonds; N198.19 billion in Treasury Bills; N11.77 billion in Agency Bonds; N159.62 billion in SUKUK and N60 billion in Green Bonds.

    The PFAs also invested N278.05 billion in State Government Securities; Corporate Debt Securities, N1.72 trillion and Money Market Instruments, N1.74 trillion.

  • Subsidy: Tinubu orders review of proposed N8,000 planned palliatives

    Subsidy: Tinubu orders review of proposed N8,000 planned palliatives

    • … Directs immediate release of fertilizers, grains to 50mn farmers, households

    President Bola Tinubu has directed an immediate review of the N8,000 conditional cash transfer programmed initially proposed to ease the harsh effects of the fuel subsidy removal.

    President Tinubu has also directed the immediate release of fertilisers and grains to about 50 million farmers and households respectively across the country, just as he has directed that the entire government’s palliative and relief package meant to ease the current harsh conditions be unveiled to Nigerians.

    The President gave the directives in response to public reactions and feedback to the administration’s efforts at ameliorating the harsh conditions that have trailed recent attempts at saving the economy from total collapse, one of which was putting an end to petrol subsidy.

    The President’s directives were contained in a statement issued Tuesday evening by his Special Adviser on Special Duties, Communication, and Strategy, Mr Dele Alake, who also explained that Tinubu took the decision because he had promised to always listen and dialogue with Nigerians.

    According to Alake, though the President had purposed to use the monthly N8,000 conditional cash transfer to 12 million families in the desperately poor category to ease the harsh realities for that category, there are other categories of plans and action plans to reach other categories.

    He however noted that to defeat negative perspectives that some naysayers had sold to the public on the administration’s plan to use multilayers of programme to ease the harsh realities, the President directed a review of the conditional cash transfer plan immediately, just as he directed the unveiling of other packages to the public.

    “You will agree with me that it has become part of the culture of President Bola Ahmed Tinubu administration to constantly dialogue with Nigerians who voted him into office. The President covenanted with Nigerians that their welfare and security will be topmost in the Renewed Hope Agenda of his government.

    “In the last few days, the conventional and new media platforms have become awash with stories of the government intending to embark on conditional cash transfer to vulnerable households mostly affected by the painful but necessary decision to remove subsidy from petrol.

    “The story has been widely reported that the Federal Government is proposing to give 12 million households from the poorest of the poor N8,000 monthly for a period of six months as government palliative to reduce the discomfort being experienced by Nigerians consequent upon subsidy removal.

    Read Also: NLC knocks FG on new pump price, palliatives plan

    “A lot of ill-informed imputations have been read into the programme by not a few naysayers. The administration believes in the maxim that when there is prohibition, there must be provision. Since subsidy, the hydra-headed monster threatening to kill the economy, has been stopped, government has emplaced a broad spectrum of reliefs to bring help to Nigerians.

    “While it should be noted that cash programme is not the only item in the whole gamut of relief package of President Bola Ahmed Tinubu, as a listening leader who has vowed to always put Nigerians at the heart of his policy and programme, the President has directed as follows:-

    “1. That the N8,000 conditional cash transfer programmed envisaged to bring succour to most vulnerable households be reviewed immediately. This is in deference to the views expressed by Nigerians against it.

    “2. That the whole gamut of palliative package of government be unveiled to Nigerians.

    “3. Immediate release of fertilisers and grains to approximately 50 million farmers and households respectively in all the 36 states and the FCT”, the statement said.

    The Presidential spokesman further said President Tinubu has given the guarantee that he would always prioritize the wellbeing of Nigerians, adding that this was proven in his recent decision to sign four Executive Orders, aimed at lifting some tax burdens.

    He added that the President would be guided by his people-focused vow in deploying the recently approved N500 billion for palliatives, ensuring that it is deployed in the interest of all Nigerians, ethnic and religious tendencies notwithstanding.

  • Ex-Man Utd goalkeeper Van der Sar leaves intensive care

    Ex-Man Utd goalkeeper Van der Sar leaves intensive care

    Former Netherlands goalkeeper Edwin van der Sar has been moved out of intensive care following a bleed on the brain.

    The ex-Manchester United and Ajax player, 52, was taken to hospital while on holiday in Croatia before being transferred to a Dutch hospital.

    “I’m happy to share that I’m no longer in the intensive care unit,” Van der Sar said in a statement on his Twitter.

    “However, I’m still in hospital. I hope to go home next week and take the next step in my recovery.”

    There was an outpouring of goodwill messages to Van der Sar after news of his condition broke on 7 July and he expressed his gratitude in the latest update.

    Read Also: Tottenham sign Empoli goalkeeper Vicario

    “We want to thank everyone for all the great and supportive messages,” he added.

    Van der Sar, who won 130 caps for his country, resigned from his role as Ajax chief executive in May after the side finished third in the Dutch league and failed to qualify for the Champions League for the first time since 2009.

    He retired from playing after leaving United in 2011 before joining the Ajax board in 2012, and becoming the club’s chief executive in 2016.

    Van der Sar made 266 appearances for the Red Devils and helped them to win four Premier League titles and the 2008 Champions League. He also played for Fulham and Juventus.

  • Ex-President Jonathan speaks on Villa frequent visit

    Ex-President Jonathan speaks on Villa frequent visit

    Former President Goodluck Jonathan, on Tuesday, said his visit to the Presidential Villa, Abuja, will be more frequent in coming days because of the many challenges facing the West African subregion.

    Dr. Jonathan gave the hint while speaking to journalists after a meeting with President Bola Tinubu at the Aso Rock President.

    The former President, who is the Economic Community of West African States (ECOWAS) Special Envoy, leading its mediation mission on Mali, was at the Villa to discuss developments on conflicts with President Tinubu.

    According to the former President, he will constantly have issues of ECOWAS regional concerns to discuss with President Tinubu, who is currently the Chairman of the Authority of Heads of State and Government of the regional body.

    Read Also: Jonathan briefs Tinubu on international assignments

    “I’ve been a part of ECOWAS since 2020, as the ECOWAS Mediator in Mali and now that we’re lucky our President has been appointed as the Chairperson of the Authority of Heads of State and Government of ECOWAS, in fact, I will be coming here almost every week so Nigerians should not be surprised because we have a lot of challenges in the sub-region and those were the things we were discussing.

    “We have crisis in Mali, Guinea, and Burkina Faso, I’m really handling Mali, but still oversighting others. So we came to put our heads together. I’m also the Chair of the ECOWAS Council of the Wise, we hold meetings, and, to have conversations on how to move things forward.

    “So since the president just came back from the AU programme in Nairobi and I’m traveling tomorrow, so I’ve decided to come and brief him to know how to move ahead with the ECOWAS challenges”, Dr Jonathan said.

    Meanwhile, President Tinubu, also hosted Governors Hope Uzodimma (Imo), Dapo Abiodun (Ogun), and AbdulRahman AbdulRazaq (Kwara) at the Villa on Tuesday evening.

  • NLC knocks FG on new pump price, palliatives plan

    NLC knocks FG on new pump price, palliatives plan

    The Nigerian Labour Congress (NLC) has rejected the new pump price of petroleum products and plans by the Federal Government to distribute N8,000 to 12 million Nigerians.

    While the Federal Government few days ago announced plans to lift 12 million Nigerians with N8,000 monthly to cushion the effect of fuel subsidy removal, Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr.Mele Kyari, had on Tuesday announced N617 as the new price for the petroleum product in all its outlets.

    Reacting on Channels Television Politics Today, NLC president, Mr. Joe Ajaero said the new pump price was anti-people.

    He also said the labour union rejects in its entirety the money and the figure said to be captured by the government’s palliative initiative.

    He said: “I think Nigerians are being deceived. In the first instance, going by the claim that the independent marketers are now bringing the product into the country, Nigerians would want to know how many are involved in this.

    “Nigerians also want to know the role of the NNPC in the current dispensation. NNPC cannot import and claim the fuel is imported by independent marketers.

    “Furthermore, the government withdrew subsidy from PMS and while we were discussing the aftermath of the withdrawal, another price increase.

    “Now, why would the government go to court to seek a court injunction? Why will the government take other measures if it is not its business”, he queried.

    “It is like Nigerians have entered a rein when Nigerians are being punished unnecessarily and where lies are the order of the day.

    Read Also: Subsidy Removal: Fuel queues resurface in Lagos as NNPCL increases pump price

    “I think clearly, the government is toiling with Nigerians and it is a reign of impunity.

    “If the same government is approving N70 billion for the members of the National Assembly to buy vehicles and furniture but you’re increasing the cost of fuel, should the removal of subsidy affect only the poor?

    “This policy will further increase the margin between the poor and the rich as it is clear that the government is taking away all the benefits meant for the poor and being given to the rich.

    “Government is provoking Nigeria and attacking workers, students and others.

    “Labour is not involved in the arithmetic of fuel price fluctuation. We can only make a better informed decision when we understand what the government is trying to do and what it has done so far.”

    On the palliatives, Ajaero counters: “The N8,000 to 12 million households in Nigeria is another issue. How did the government arrive at the statistics it is reeling out?

    “We, at NLC, have rejected that because we are not clear on how and where the government got the statistics it is relying on for the planned palliatives.”

    “There is a committee in place between government and labour to work out the modalities. The government cannot set up the committee and go back to do another thing. This is unacceptable.

    On what the NLC will do in view of the fuel price increase, Ajaero said: “We’ll meet to make a decision and best to address the new development.”

  • NGO makes case for Dambazau

    NGO makes case for Dambazau

    A non-governmental Organisation, Ben Lion Heart Vanguard has appealed to President Bola Tinubu to appoint former Minister of Interior and Chief of Army Staff, Lieutenant General, Abdulrahman Dambazau (retd) as a minister.

    The group noted that Dambazau was the best man to supervise the Nigerian military as minister of defence.

    In a statement on Monday in Abuja signed by Ben Willam, a retired air force officer and security consultant, the group described Dambazau as an officer whose loyalty to the Nigerian State, constitution and national security has remained impeccable.

    The group noted that providing Dambazau the opportunity to serve, the former minister of interior would provide professional oversight on security as he harnesses the military resource he understands very well, to stabilise Nigeria internally and otherwise.

    The group said Nigeria needed a patriot at this time to carry out purposeful security oversight with surgical precision to ensure the safety of Nigerians and their property.

    Read Also: Tinubu will enhance salaries of security agencies – Dambazau

    It argued that this has consistently featured in the period of service across various commands of the former minister of interior while serving in the military.

    It noted that Dambazau’s positive impact in the various command and public offices he held have remained a footprint of reference in good and exemplary leadership and he did not perform less as minister of interior in institutional/public administration.

    The group said the former minister of interior created a situation room for the coordination of activities of all security and public safety agencies, for a seamless response to emergencies, anywhere they may arise.

    It also said the former CoAS led the US-Nigeria Security Sector Initiatives for the reforms of the security sector in response to emergencies, defence procurements, and activities in the northeast.

    “Beside these he developed the idea of establishing the institute of domestic security for the strategic training of senior officers in the security agencies.

    “For Dambazau,national security was a critical stabilizing factor for national development, thus, to allow for easy national security, he proposed the idea of production of passports in Nigeria rather than overseas to make passports cheaper for Nigerians and also protect the database,” the statement added.