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Tag: beneficiaries

  • SEC urges beneficiaries to claim deceased’s dividends

    Securities and Exchange Commission (SEC) has urged beneficiaries of deceased investors to step up efforts to claim their dividends as part of efforts to reduce the quantum of unclaimed dividends in the Nigerian capital market.

    This was stated by the Acting Director General of the SEC, Ms Mary Uduk in her welcome remarks at the enlightenment programme for Lagos State Probate Registry in Lagos. Uduk who was represented by Acting Executive Commissioner Operations of the SEC, Mr. Isyaku Tilde, said the purpose of the enlightenment programme is to give participants an understanding of the operations of the capital market, especially in the area concerning transmission of shares and administration of estate, areas in which the Probate Registry is a key stakeholder.

    Uduk stated that one category of investors whose investment yields have contributed to the growth of unclaimed dividends are deceased investors, whose beneficiaries as indicated in the will or letter of administration are yet to claim the investments and accrued dividends through the share transmission process.

    According to her, the capital market is a market for raising medium to long term capital via a number of instruments. The most popular of the instruments are shared and bonds with resultant yields of dividends and interests respectively.

    She noted that the quantum of unclaimed dividends in the Nigerian capital market has been on the increase as investors fail to claim the dividends from their investment in shares.

    Uduk also congratulated the Probate Registry on the recent commissioning of the e-filing probate registry saying it will guarantee integrity of data, provide for online tracking of applications, simplify and shorten the application process of Letter of Administration and grants.

    She restated the readiness of the SEC to collaborate with the Probate Registry staff  so that together the Nigerian capital market can become a desirable investment destination.

  • Amnesty’s Ondo training centre: Beneficiaries warn against politicisation

    CRITICAL stakeholders in the Niger Delta including leaders of ex-agitators, community leaders and elders have warned politicians to desist from attempting to make a political fortune of the recently inaugurated Presidential Amnesty Programme Oil and Gas Basic Skills Vocational Training Centre, Agadagba, Ese-Odo Local Government Area of Ondo State.

    The stakeholders expressed dismay that barely two days after the world-class facility was launched for the training of beneficiaries of the Amnesty Programme in oil and gas skills, some persons have fraudulently made efforts to rewrite history by claiming or ascribing undue credit for establishment of the project.

    Reacting to a report headlined: ‘Oil & Gas Training Centre: Ondo ex-militants hail Akeredolu, pledges support’ which was published in the January 21, 2019 edition of a national newspaper, a leader of ex-agitators in Delta State, Timothy Tensibe, said it was the height of deceit and mischief for a faceless “ex-militant” to hail the Ondo State governor for facilitating the facility.

    Read also: Tax on luxury items, corporate gains coming

    In a statement yesterday, Tensibe, a Phase II camp leader in the Presidential Amnesty Programme, said it was disheartening that some persons were trying to reap where they did not sow for cheap political gains, rather than giving credit to President Muhammadu Buhari and the Coordinator, Amnesty Programme, Prof. Charles Dokubo, for achieving the feat.

    Tensibe said: “While we hold belief that the newly commissioned oil and gas training centre at Agadagba wholly owned by the Amnesty Programme will enhance the training of thousands of beneficiaries and non-beneficiaries of the programme to fast-track development in the entire Niger Delta region, it is dubious for any individual or group to commend the government of Ondo State for keeping to promises made to former Niger-Delta agitators.”

  • Beneficiaries immortalise Afe Babalola with statue

    •Monarchs, others hail ABUAD founder’s philanthropy

    Legal luminary and renowned philanthropist, Aare Afe Babalola (SAN), has received a lifetime honour from people who have benefited from his milk of human kindness.

    Acting under the aegis of Afe Babalola Beneficiaries Worldwide, they erected a befitting statue in his honour at Agbonna Tourist Centre in Okemesi Ekiti on Tuesday to keep his memory alive in the Hearst of the people.

    The President General of Aare Afebabalola Beneficiaries Worldwide, Oba Justice Ademola Ajakaye, the Oluyin of Iyin urged Nigerians to draw strength from the legacies and exemplary life of the Founder of Afe Babalola University, Ado Ekiti (ABUAD).

    Babalola spoke yesterday at Okemesi Ekiti in Ekiti West Local Government Area at the unveiling of a sculpture and garden built in his honour by his beneficiaries worldwide.

    He said: “I want to emphasise that the only change that can change the country for better and pave way for the evolution of the nation is the change that changes the structure of Nigeria.

    “It is the duty of government to provide road, electricity, airport, rail line and other infrastructure. Unfortunately, all these are not there, resulting in spiral unemployment, destitution and criminality.”

    The legal luminary noted that restructuring remained the change that would make politics less attractive, make each state develop and thrive at its own pace.

    He said: “And it is the change that will make every component of Nigeria to develop its resources, provide employment, eradicate poverty and make individuals to become true Nigerians.

    “It is restructuring that will curb overconcentration of power at the centre and reduce corruption, promote harmony and unity.”

    Laying the wreathe at the Ekiti Parapo Heroes Museum at Ita Balogun in Okemesi in honour of fallen heroes, Babalola saluted the bravery of the war commanders who prosecuted the Kiriji War between 1877 and 1886.

    The eminent lawyer said their efforts were instrumental to the liberation of Ekiti from Ajeles from Ibadan.

    He said: “It is shameful that these heroes, who fought for the unity and amalgamation of Ekiti, were not being celebrated. The tourism potentials in this town alone, I mean those relics we gathered from the warfront, can turn the economy of this state around.

    “Today, the only thriving industry in Ekiti in particular is politics, while other sectors are neglected. The government must invest in this sector and turn around the moribund economy of our dear state in line with the dream of the founding fathers of the state.”

    The Oowa Ooye of Okemesi, Oba Adedeji Gbadebo; the Oluyin of Iyin Ekiti, Oba Ademola Ajakaye and the initiator of the project, Chief Morakinyo Ogunniyi, lauded the Babalola’s giant strides and contributions to the state’s development.

     

     

     

  • Don’t politicise NSIP scheme, beneficiaries tell Saraki, others

    NIGERIAN Social Investment Programme (NSIP) beneficiaries yesterday cautioned Senate President Bukola Saraki and other politicians against politicising the programme.

    The beneficiaries said the NSIP has been a life-saver for many of them.

    Saraki had reportedly described the scheme as an attempt by President Muhammadu Buhari’s administration to curry voters to his side in 2019.

    Addressing reporters yesterday in Ilorin, the Kwara State capital, spokesperson of the beneficiaries Danwahab Ambali said no fewer than 5,000 people had benefitted from the first phase of N-Power in Kwara State.

    Ambali said: “With me here are beneficiaries of the Conditional Cash Transfer and Tradermoni, all part of the NSIP.  It is important to state here that the NSIP scheme to us has been nothing, but a life-saver.

    “I graduated from the University of Ilorin with a Bachelor of Science degree in Anatomy in 2009. For six years, I was without any gainful employment until 2016 when I became an N-Power volunteer.

    “My participation in the programme has really impacted my life, because it was through N-Power that I got the money to do my M.Sc programme and also enhance my personal skills in other areas.

    “Like me, N-Power and other SIP programmes have improved the lives of many that I know in Kwara State here.

    “Here with me is Mrs. Memunat Ismaila, who was widowed since 1996 with no help from anywhere. To feed her children, she became a petty trader, selling pepper. She kept struggling for her small business to survive, until respite came when she got the first tranche of Conditional Cash Transfer, which she put into her business. She now lives a more dignified life with her children.

    “Ibrahim Moshood here is a fashion designer, who was in need of a shop. It was the Tradermoni he got that he used to get a shop and standardised his business. So, the Social Investment Programme is working for us.”

    He added: “It is, therefore, to defend the integrity of the NSIP programme so that others can benefit that we have found it necessary to come out openly to say that we do not believe that the NSIP is tailored towards any political gain. We say this because we heard Dr. Saraki say that the NSIP is nothing but a ‘systematic vote-buying for the 2019 election’.

    Ambali said Saraki’s claim was not true since many of the beneficiaries did  not start benefiting from the programme because the 2019 elections is approaching.

    “Like I said before, I became a beneficiary in 2016. Some of my colleagues got in in 2017. In fact, Senator Saraki himself had praised the programme in the past, and some of his aides indeed tried unsuccessfully to nominate people into the programme, claiming that they were APC before they defected.”

  • 11,000 Ekiti N-Power beneficiaries back Buhari

    Eleven thousand beneficiaries of the Federal Government’s N-Power in Ekiti State have assured President Muhammadu Buhari they will vote for him next year.

    The beneficiaries noted that through the scheme, the President had offered them a lift from poverty and unemployment irrespective of their political leaning.

    At a ceremony yesterday in Ado-Ekiti, the capital, where 8,000 letters of enlistment were distributed, the beneficiaries hailed the scheme for giving them an economic safety net.

    State President of N-Power Beneficiaries Forum Dare Oladimeji described the Federal Government under the All Progressives Congress (APC) as the best to lead Nigeria beyond 2019.

    He noted that Nigeria cannot afford to slide into the hands of corrupt politicians, who looted the treasury and brought hardship to the masses.

    Oladimeji hailed Buhari for conceiving and implementing the scheme, which he said  known Peoples Democratic Party (PDP) members and sympathisers were benefiting from.

    He said: “We want to appreciate President Buhari for this initiative. This is the first programme that I know was not political. It is not politically motivated, but was established to alleviate the suffering of our youths.

    “You didn’t need to know any senator, House of Representatives member or politician to be enlisted in the scheme. I only applied online and my name featured as a beneficiary and since then I have not been denied this right.

    “We believe that if President Buhari continues beyond 2019, this programme will continue and many youths will still benefit. It was on this strength we are declaring our support for him in 2019.”

    Hailing the N-Power beneficiaries for their public support for the President, APC’s State Publicity Secretary Taiwo Olatunbosun said the endorsement was a signal they wanted Buhari beyond 2019.

    Olatunbosun said: “This open declaration of support for President Buhari shows that Nigerians are appreciative of the APC-led Federal Government. Ekiti people didn’t mince words by converting this into action by electing Dr Kayode Fayemi as the next governor of our dear state.

    “Whatever the detractors of this government said, Nigerian youths are ready to vote for President Buhari because of the way he has been waging wars against corruption, stabilising our economy and fighting insurgency, which crippled Nigerians under the PDP-led government.

    “This showed that Nigerians are appreciative of what our government has been doing.

    “Beneficiaries of this scheme, which encompasses N-Agriculture, N-Computer and N-Education, have become economically stabilised by setting up their own businesses and becoming employers of labour rather than being job seekers…”

  • Beneficiaries to collect Cof O next week

    The Ogun State Governor Ibikunle Amosun will distribute Certificates of Occupancy and other land title documents to another batch of beneficiaries under the Homeowners’ Charter Programme.

    The Director-General Bureau of Lands and Survey Mr. Biyi Ismail who stated this said the beneficiaries would collect their documents as from July 31  by 9am prompt, at the Arcade Ground, Governor’s office, Oke-Mosan, Abeokuta.

    He urged all contacted beneficiaries to come with valid means of identification and photocopies.

  • Group Life: Beneficiaries to get death benefits from underwriters

    Beneficiaries of dead workers under the Contributory Pension Scheme (CPS) are to be paid by an underwriter in line with the provisions of insurance law.

    Death benefits, according to the law are no longer paid into Retirement Savings Account (RSAs). This is to eradicate the problems encountered by them in accessing benefits from Group Life Insurance. This will also apply to missing employees under under Section 8 of the Pension Reform Act (PRA),2014.

    Assistant General Manager, Benefits & Insurance Department, National Pension Commission, PenCom  Mohammed Umar,   made this known in a presentation at the 2018 Journalists Workshop in Uyo, Akwa Ibom.

    According to him, with a Letter of Administration confirming the beneficiaries and with the approval of the Commission, the PFA will release the amount in the RSA to personal representatives of the deceased.

    He said: “This will also be done by order of a Court of competent jurisdiction, in accordance with the terms of the Will or the personal law of the deceased employee.

    “Employers of deceased workers are, however, expected to report death or missing employees to the PFA and PenCom. Employers are to have representative on the Board of Enquiry constituted in the case of missing employee or retirement of employee on medical ground.”

    Speaking on the procedure for accessing RSA, he said some processes and documentations are required, adding that a RSA must notify PFA six months ahead of retirement and prrovide PFA with the documents for retirement.

    He said the documents include official notice/acceptance of retirement from employer; last pay slip as evidence of  Annual Total Emolument (ATE) & GL/Step; recent passport photograph; any other evidence of ATE; quotation from an insurance company for the purpose of annuity product, if desired; provide details of bank account; and provide contact address after retirement.

  • Another set of beneficiaries to get CofO

    Ogun State Governor Ibikunle Amosun will be distributing Certificates of Occupancy and other land title documents Oto another batch of beneficiaries under the Homeowners’ Charter Programme.

    The Director-General, Bureau of Lands and Survey, Mr. Biyi Ismail, said that the beneficiaries would collect their documents as from Wednesday at the Arcade Ground, Governor’s office, Oke-Mosan, Abeokuta.

    He urged all contacted beneficiaries to come with valid means of identification and photocopies.

  • NSITF transfers N37.6m to 788 beneficiaries

    About N37.69 million pension contributions, belonging to 788 beneficiaries’ Retirement Savings Account (RSAs) holders as at quarter 3, 2016, has been transferred to the Nigeria Social Insurance Trust Fund (NSITF).

    What this means is that RSA holders can now have their pension fund, previously managed by the NSITF,  managed by their Pension Fund Administrators (PFAs) under the Contributory Pension Scheme (CPS).

    The transfered fund was revealed in a report released by the National Pension Commission (PenCom) to newsmen in Lagos.

    The report read: “The Commission continued the supervision of the transfer of NSITF contributions into beneficiaries’ RSAs during the quarter under review. In this regard, Eight hundred and nine (809) applications were received for the transfer of the total sum of N39.18 million into RSAs of NSITF beneficiaries.

    “The Commission processed 788 applications worth about N37.69 million. Thirty seven (37) applications for the transfer of N921.06 thousand were rejected due to incomplete documentations.”

    Concerning the update on issuance of Compliance Certificates by the private sector, the report said the Commission issued 3,3374 certificates to various organisations.

    “During the quarter under review, the Commission received a total of 3,475 applications for issuance of Compliance Certificates.

    “Out of this figure, compliance certificates were issued to 3,374 organisations while applications from 101 were turned down due to incomplete documentations. The sum of N12.19 billion was remitted by the 3,374 organisations that were issued certificates,”it added.

  • Amnesty beneficiaries condemn attack on Boroh

    Amnesty beneficiaries condemn attack on Boroh

    Beneficiaries of the Presidential Amnesty Programme, studying in the United States, have expressed confidence in its Coordinator, Brig.-Gen. Paul Boroh.

    The beneficiaries, in a statement, said though things have not been rosy, Boroh has been faithful.

    The statement reads: “We, the students sponsored by the Federal Government of Nigeria, under the umbrella of the Office of the Special Adviser to the President on Niger Delta/Coordinator, Presidential Amnesty Programme (OSAPND), led by Brig.-Gen. Paul  Boroh (rtd), wishes to draw the attention of the public to the activity of faceless fraudsters in the United States of America, who are using the social media to spread mischievous information about our welfare as government-sponsored students, and activities of OSAPND under Boroh.

    “We wish to dissociate students from any attempt to tarnish the image of Nigeria in the US, through outright lies, falsehood and blackmail being peddled in the social media by a faceless group that has called on people to join them for a public demonstration against the President Muhammadu Buhari-led government, at the White House.

    “We wish to put it on record that our allowances and tuition fees have been paid till September 2017, and the office has promised to pay up till November.

    “We thank President Buhari for his commitment and dedication to sustainable peace and development in the Niger Delta, through his support and continuation of the Presidential Amnesty programme. We also praise the able leadership of Gen. Boroh for the positive changes he has brought to bear on the programme, through prompt payment of our fees and allowances.

    “While it has not been all rosy, we note that despite the economic recession that Nigeria went through, it was still able to sponsor our education abroad and we are very grateful.”