Tag: retirement

  • Delta NUT worried as 1,500 teachers plan for retirement

    The leadership of the Nigeria Union of Teachers (NUT), Delta State, is disturbed over the high turnover of retirees from both primary and secondary schools.

    Its Chairman, Titus Okotie, who spoke in Asaba, the state capital,  said last year over 3,000 teachers retired from the teaching service, while another 1,500 were expected to quit later in the year.

    He said the future looked bleak, urging the government to intervene and save the falling standards of education.

    He said the state government lacked the resources to recruit new teachers, recommending that the government convene a stakeholders’ meeting to adopt a strategic framework to provide manpower for schools.

    He said: “With about 17,000 teaching staff in primary schools and an estimated 12,000 in secondary schools, our fear is that with the figure that retired in 2017 and those likely to retire this year, our classrooms may become empty if something urgent is not done.”

    He said the government must take a look at the decisions reached   during the 2015 education summit convened by the government.

  • Retirees urge Union Bank to pay N42.77b retirement benefits

    Retirees urge Union Bank to pay N42.77b retirement benefits

    Retirees of the Union Bank of Nigeria, under the auspices of Grand Progressive Association of Contributory Pensioners of Union Bank of Nigeria, have accused the National Pension Commission (PenCom) of collaborating with the bank to deny them their benefits amounting to N42.77 billion.

    The pensioners, numbering 6,748, said the bank has not paid the balance of N42.77 billion, 11 years after they retired. They alleged that PenCom has refused to sanction the bank in accordance with the Pension Reform Act, 2004 as amended.

    In a statement by the group’s Preesident, Yohanna Sodo, and Secretary Augustine Ikaan, the pensioners explained that the Union Bank Legacy Pension Assets/Accrued Rights were carried out on March 31, 2008 by Hogg Robinson Nigeria Limited, which submitted that total Legacy pension asset stood at N46.711billion, while the accrued rights was N26.57billion.

    They further said of the total amount of N73.28 billion, the bank only remitted N30.51 billion, leaving a balance of N42.77 billion, which has not been paid. They also alleged that rather than PenCom exercising the powers conferred on it, the commission has chosen to remain silent on the issue even when it is obvious that Union Bank has flouted the law.

    Relying on Section 11 subsection 1(c) of the Pension Reform Act 2014, the retirees argued that as from June 25, 2004, being the commencement of the Pension Reform Act 2004 as amended in 2014, the Accrued Pension rights to retirement benefits of any employee, who is already under any pension scheme existing before the commencement of that Act and has over three years to retire, shall credit the retirement savings accounts of the employees with any funds to which each employee is entitled, and in the event of an insufficiency of funds to meet this liability, the shortfall shall immediately become a debt of the relevant employer and shall have priority over any other claim.

    They stressed that in line with the Pension Reforms Act, the bank management is required to offset the balance of Legacy Pension and accrued rights, which ought to have been remitted to the Retirement Savings Account (RSA) of the ex-workers in compliance with Section 11 sub-section 1(c) of the Pension Reform Act.

  • NAFRC prepares 40 Generals for retirement

    THE Nigerian Armed Forces Resettlement Centre (NAFRC), Oshodi, Lagos yesterday began a two-week entrepreneurship and management training programmes for 40 senior military officers of the general cadre.

    It was learnt that the training is aimed at ensuring a well-balanced and productive life after service for the general.

    The officers comprising 15 from the Nigerian Army (NA), 10 from the  Navy (NN), 10 from the Air Force (NAF) and five from NAFRC are expected to within two weeks, come up with viable business plans that would be scrutinised by the training facilitators, Empretec Nigeria Foundation.

    Inaugurating this year’s second edition of the course in Lagos yesterday, the Chief of Defence Staff (CDS), Gen. Gabriel Olonisakin, urged the participants to take the training seriously.

    Olonisakin, who was represented by the Chief of Defence Administration, Rear Admiral Muazu Salami, said: “ There is no doubt that life after service presents peculiar challenges, one of which is the need for retired officers to be able to still engage in meaningful economic activities with the aim of ensuring a productive and wholesome life after military service.

    “This is the aim of this training workshop.”

    Noting that it was the first time the training was being conducted at NAFRC since its inception in 2011, the CDS said the Defence Headquarters (DHQ) was working towards a review of the mandate of the centre to accommodate new thinking in line with modern trends.

    Aside the inauguration of the training, Olonisakin unveiled NAFRC’s remodelled 50 bedroomed guest house and a newly built resource centre.

    NAFRC Commandant, Air Vice Marshal Ajibola Jekennu said over 42,000 servicemen and women have benefitted from the skills acquisition programme of the centre.

    Represented by his deputy, Maj.-Gen. Edward Nze, Jekennu said the participants would be taken through various modules specially designed to meet their needs.

    Giving a run-down of the programme, Empretec’s Country Director Mrs. Onari Duke urged the generals to give in their best, adding that those with good business plans would have access to local and international grants.

     

  • NAFRC prepares 40 Generals for retirement

    NAFRC prepares 40 Generals for retirement

    To ensure a well balanced and productive life after service, the Nigerian Armed Forces Resettlement Centre ( NAFRC ), Oshodi on sunday commenced a two-week entrepreneurship and management training programmes for 40 senior military officers of the general cadre.

    The officers comprising 15 from the Nigerian Army (NA), 10 from the Navy (NN), 10 from the Air Force (NAF) and five from NAFRC are expected to within two weeks, come up with viable business plans that would be scrutinised by the training facilitators, Empretec Nigeria Foundation.

    Inaugurating this year’s second edition of the course in Lagos yesterday, the Chief of Defence Staff (CDS) Gen. Gabriel Olonisakin urged the participants to take the training seriously.

    Olonisakin, who was represented by the Chief of Defence Administration, Rear Admiral Muazu Salami, said: “As senior managers of the military enterprise, you are now being prepared to deploy knowledge already acquired in the course of your career to more civil use. There is no doubt that life after service presents peculiar challenges, one of which is the need for retired officers to be able to still engage in meaningful economic activities with the aim of ensuring a productive and wholesome life after military service.

    “This is the aim of this training workshop. l have been reliably informed that this training will expose you to discussions and exercises that would adequately prepare you to handle challenges encountered in retirement, particularly concerning that of starting your own businesses.

    “I therefore congratulate you all on your nomination to this workshop and urge you to take full advantage of the benefits it offers. I also expect that some of the skills you will acquire would add value to your productivity at your respective services.”

    Noting that it was the first time the training was being conducted at NAFRC since its inception in 2011, the CDS said the Defence Headquarters (DHQ) was working towards a review of the mandate of the centre to accommodate new thinking in line with modern trends.

    Aside the inauguration of the training, Olonisakin unveiled NAFRC’s remodelled 50 bedroomed guest house and a newly built resource centre.

    Earlier, NAFRC Commandant, Air Vice Marshal Ajibola Jekennu over 42 thousand servicemen and women have benefitted from the skills acquisition programme of the centre.

    Represented by his deputy, Maj.-Gen. Edward Nze, Jekennu said the participants would be taken through various modules specially designed to meet their needs.

    He said: “Records and feedback we get indicate that a good number of out trainees are doing well in civil life. The centre is not stopping at juts training servicemen. The desire of the CDS to extend our services to commissioned officers informed our collaboration with Empretec Nigeria Foundation.

    “The senior officers entrepreneurship and management training workshop is designed to equip them with essential tools and requisite information towards positioning themselves for productive life after service.

    “The objective is mainly ri refocus attention to the fact that a meaningful and productive life can be pursued even after service. Managerial experiences and skills accumulated while in service could be skillfully put to use in civilian pursuits in order to live a wholesome, fulfilling life and still contribute to the progress of the country after military service.”

    Giving a run down of the programme, Empretec’s Country Director, Mrs. Onari Duke tasked the generals to give in their best, adding that those with good business plans would have access to local and international grants available.

    According to her, the initiative was from the United Nations and was currently running through 33 countries.

  • Court orders FG to reinstate NEMA spokesperson four years after retirement

    Court orders FG to reinstate NEMA spokesperson four years after retirement

    Justice David Isele of the National Industrial Court (NIC) has ordered the immediate reinstatement of former Spokesperson of National Emergency Management Agency (NEMA), Yushau A. Shuaib back into the public service after forceful retired In 2013 over an opinion article he wrote on former Finance Minister, Dr. Ngozi Okonjo-Iweala.

    Through Barrister James Ode Abah of Bamidele Aturu Legal Chamber, Shuaib had sued the Finance Minister, Federal Civil Service Commission (FCSC) and Federal Ministry of information over the purported retirement.

    Delivering the Judgement, Justice Isele declared that the letter retiring Shuaib from service has no force of law and is therefore illegal, unconstitutional, null and void and of no effect whatsoever being in flagrant violation of the civil service rules.

    The judge also declared “the premature retirement of NEMA spokesperson by the Federal Government without conducting any investigation, without giving him an opportunity to defend himself and without complying with the condition precedent for retirement is contrary to section 36 of the 1999 Constitution and therefore illegal, unlawful, unconstitutional and null and void.”

    The court, therefore, ordered the immediate reinstatement of Yushau Shuaib to his duty post as the Chief Information Officer without any loss to seniority, salaries, position and other emoluments.

    The judge orders the Federal Government to compute and pay within 30 days (before Xmas/New Year) all Shuaib’s salaries, allowances and other emoluments due to him from June 2013 to the judgment date (November 22, 2017) and interest at the prevailing commercial bank’s rate on his total package.

    The case centred on the illegal and unlawful retirement of Shuaib over an allegation of criticizing a former Finance Minister, Dr. Ngozi Okonjo-Iweala in an opinion article on lopsided appointment in the public service. Early in his statement of defence before the court, Shuaib had stated that Public Service Rule 030421 gave him the right to write an article. The section states that “Nothing in this rule shall be deemed to prevent an officer from publishing in his own name, by writing, speech or broadcast matters relating to a subject of general interest which does not contain a critic of any officer.” He also cited Section 39 (1) of the 1999 Constitution which states that “Every person shall be entitled to freedom of expression, including the freedom to hold opinions and receive and impart ideas and information without interference.”

    Shuaib an award-winning writer was offered automatic employment by Delta State and Federal Government after winning State and Presidential Awards of the National Youths Service Corps (NYSC) scheme in 1993.

    He had served at various organisations as Public Relations Officer and Press Secretary including Delta State Govt House, Asaba; Ministry of Information, Ministry of Finance, Ministry of Health, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), National Press Centre, and National Emergency Management Agency (NEMA).

    After his purported compulsory retirement, Shuaib activated PRNigeria, a press release platform for critical institutions in Nigeria serving the Military, Security, Intelligence and Response Agencies among others.

     

  • Sultan seeks extension of military’s retirement age

    The Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III, and Gen. Martin Agwai (rtd) have called for an extension in the retirement age for military officers.

    The Sultan, who is a retired Brig.Gen., said this became imperative due to the huge fund the Federal Government spends in training officers.

    The monarch spoke in Abuja at the weekend, at a dinner organised by members of the 18 Regular Course, Nigeria Defence Academy (NDA).

    He emphasised that grey hair may not necessarily mean old age, but greater experience thus, officers could still contribute to the military and provide better solutions.

    Sultan Abubakar said relevant authorities should discuss the possibility of upward review in the retirement age of military officers.

    “One point I want us to talk about is the retirement age of officers in the Armed Forces. You will get to 55 or 60, when you are just starting your life, but you are gone. We have gone round; we have seen generals at 65 with grey hair. Anyway, grey hair is not a sign of old age because Gen. Agwai has had his grey hair since 40.

    “Some of us that have grey hair are not too old but it is important we look at this and maybe, mobilise other people to start talking to allow our generals reach at least 60 or 65 before they leave service.

    “You spent so much money to train them, and at 55 to 60, they are gone when they don’t have replacement. Let us expand because Nigeria is so big.”

    The monarch solicited greater encouragement for the military due to their significance and service to the country, stressing that they should be praised rather than condemned.

    In his remarks, Gen. Agwai (rtd) identified the importance of the military acting as role models and mentors to the younger generation. He stressed the need for honesty for the country to witness genuine development.

    Gen. Agwai, who spoke on “Leadership as I See It”, urged the present and former military officers to give more to the society.

    “The country has invested so much in those of us privileged to attend the NDA, there is a lot more that we should give,” he noted.

    According to him, the country is blessed with so much potential – human and natural, sufficient enough to reposition the country but not properly explored.

    The retired general encouraged leaders to utilise the potential to end poverty, create jobs and develop the economy.

    “There is a difference between a leader and a boss. Most of us boss around, we are not leaders, and that is why people fear us rather than respect us. Leaders demonstrate a non-prejudicial way of doing things,” he added.

    Former Chief of Army Staff Lt. Gen. Azubuike Ihejirika lauded the service chiefs for improving the country’s security apparatus.

    He praised President Muhammadu Buhari for facilitating the purchase of new military aircraft, stressing that it has helped to contain insurgency in the Northeast.

    Gen. Ihejirika advised Nigerians to consider its ethnic differences as a form of strength to promote national unity.

  • Statistics Bureau: Retirement Savings Accounts’owners hit 7.5million

    Statistics Bureau: Retirement Savings Accounts’owners hit 7.5million

    The  number of Retirement Savings Account (RSA) owners has risen from 7.4million to 7.5million, the National Bureau of Statistics (NBS) has said. It hit that mark between April and June.

    In a report on RSA Membership Distribution for Second Quarter of the year, posted on its website, NBS said the figure represented 10.93 per cent of the working population. It said this was not surprising, given the largely informal structure of the labour force, with about 50 per cent engaged in subsistence agriculture and informal trading.

    It also stated that micro businesses accounted for over 90 per cent of Micro, Small and Medium Scale Enterprises.

    The report said of a male working population of 36 million, only 5.3 million or 14.83 per cent registered in the pension scheme in the second quarter.

    Similarly, it added that only 2.1 million or 6.64 per cent out of a total female working population of 33 million registered in the second quarter.

    It said out of the 7.5 million RSA members, 71.04 per cent are men and 28.96 per cent are women compared to 71.10 per cent men and 28.90 per cent women in first quarter of 2017.

    The report further said the highest number of registered working population came from the age bracket of 30-39, followed by the working population within the age bracket of 40-49 and 50-59.

    It however said the least number of registered working population came from above 65 and the 60-65 bracket.

  • Only 10.9% workers have retirement savings account, says NBS

    Only 10.9% workers have retirement savings account, says NBS

    The National Bureau of Statistics (NBS) has revealed that only 10.93 percent of Nigeria’s working population has retirement savings account (RSA), as at the end of the second quarter of 2017. This implies that more than 89 percent of the nation’s workforce is without pension accounts.

    NBS, however, noted in its latest report that the assessment was based on available data, and that Q2’17 data would be updated as soon as it is available.

    The report stated: “The retirement savings account, RSA, membership distribution data for Q2 2017 reflected that 7,589,936 workers are registered under the pension scheme compared to 7,493,590 registered workers in Q1 2017 out of a total working population of 69,470,901 recorded as at Q4 2016. This represents 10.93 percent of the total working population.

    The report, however, said it is not surprising that the largely informal structure of the Nigerian labour force, with about 50 percent of the workforce engaged in subsistence agriculture and informal trading. Micro businesses for example account for over 90 percent of Micro, Small and Medium Scale Enterprises in the country.

    NBS further noted that RSA membership is dominated by the private sector. It stated: “The Federal level had 1,898,199 registered RSA members under the national pension scheme as at Q2 2017 of which 1,384,579 or 72.94 percent were male and 513,620 or 27.06 percent were female compared to 1,889,143 registered RSA members of which 1,378,382 or 72.96 percent were male and 510,761 or 27.04 percent were female in Q1 2017. This may indicate that there are a lot more male employees in the Federal public service than female”.

    It also stated that at the state, including local government level, 1,537,138 state public workers are registered under the national pension scheme with 863,605 or 56.18 percent male and 673,533 or 43.82 percent female as at Q2 2017 compared to 1,525,748 registered public workers of which 858,365 or 56.26 per cent were male and 667,383 or 43.74 percent were female in Q1 2017. This the report stated that  the Federal Public Service is larger than that of all 36 States combined and similar to the Federal service with men dominate with respect to number of employees.

    “Private firms had 4,154,599 registered RSA members under the pension scheme as at Q1 2017 of which 3,143,703 or 75.67 percent were male and 1,010,896 or 24.33 percent were female compared to 4,078,699 registered RSA members of which 3,091,288 or 75.79 percent were male and 987,411 or 24.21 percent were female in Q1 2017,” he added

  • Retirement and splendid isolation

    I finally retired from teaching at the end of the current academic session 2016/2017 at the Redeemer’s University Ede. I started my teaching career at the university level in 1966/67 session when I was a postgraduate student at the University of Ibadan. I was in my early twenties. It was an unusual time. Some of the Ibo lecturers and even some expatriates left the University of Ibadan because of the crisis and killings in the country for fear of being killed. There was a special course for final year students on “The scramble for and partition of Africa”. In the absence of the lecturer assigned to teach the course, the late Professor JF Ade Ajayi asked me to teach the course. I had no choice because this was an order which must be obeyed. I prepared very well before I started teaching the course. Most of my students were older than me and some felt uneasy being taught by me but after some disquiet and realizing they did not have a choice, the students settled down and I discharged my responsibilities with all my heart and all the energies at my command.

    I left Ibadan before the outbreak of the civil war and went to Canada as an Izaak Walton Killam scholar the Canadian equivalent of the British Rhodes scholarship. I remember in my final year of the PhD programme in 1970, I was again asked to offer a course in Commonwealth History to final year students at Dalhousie University, Halifax Nova Scotia one of the oldest, if  not the oldest university in Canada. In spite of my being naturally shy, my solid academic grounding in Ibadan had prepared me for the experience. After the doctorate of philosophy in history in 1970, I was appointed Assistant Professor of Commonwealth History at the prestigious University of Western Ontario, London Canada the richest city per capita in Canada. This like Dalhousie University was a lily-white university. My late wife, Abiodun was a student in the Faculty of Science; thank God I did not have to teach her. In order to overcome my shyness, I used to mesmerize the students by smoking pipe tobacco of the pungent Erinmore brand. On entering the class while the students were wondering what this black dude was about to say, I would envelope myself and the podium where I spoke with smoke. By the time the smoke cleared, the lecture would have begun. By the end of the academic year, I had become a much sought-after speaker in many lectures and seminars in the university. The 1960s were epochal years in Africa and the black diaspora in Canada and the USA. It was also a period of political ferment in francophone Canada particularly in the province of Quebec. I had well considered opinions on all these happenings.

    I left Canada for the University of the West Indies at Cave Hill Barbados an island which used to be described as one of her Britannic majesty’s crowned jewels on the account of being almost a tropical paradise for the rich. I was young and I wanted to explore the world. If I had been older and farsighted, I would have bought a four bedroom bungalow which the university offered to finance for its lecturers. After a wonderful year of swimming, eating fish and drinking rum, I returned to reality in 1972 and was shunted to the University of Ibadan, Jos campus. It was another happy place for me and other young colleagues most of who were from the south and experiencing the cold weather of Jos and the hospitality of its people for the first time. Governor Gomwalk, an alumnus of the University of Ibadan who invited the university to his state offered us plots of land in the prime area of the GRA. Few took up the opportunity because we felt we were birds of passage in Jos. I could have stayed in Jos forever but for the fact that we lost a male child because of substandard health facility. My wife and I left for Lagos University in 1974 from where I retired in 2005 to join Redeemer’s University as foundation Dean of the College of Humanities from where I have now retired. I had a wonderful and fulfilling experience mentoring students and younger academic colleagues. I believe I gave as much as I received from my experience at the Redeemer’s University Ede.

    After retiring from the University of Lagos, I was conferred the Honour of Emeritus professorship and on retiring from Redeemer’s University I was again made a professor emeritus. This is a double crown in my academic efforts. It does not mean I am on salaries in these two universities. In fact Redeemer’s University has put me on a salary of one Naira per year. I am told this is the only way by which I can continue to use their facilities when I visit. I am involved pro bono in the University of Lagos in the supervision of a doctoral student I will also be available to do the same at the Redeemer’s University if called upon to do so. In more civilized part of the world my status would have conferred on me not only an office but secretarial assistance since I plan to write some books as time goes on. The Nigerian university system has apparently not thoroughly thought out what they should do with distinguished retired professors who can still be useful in teaching and research and guardianship in the universities where the university culture is disappearing and is being replaced by mediocrity and materialism.

    Now that I am retired and in splendid isolation, I have suddenly discovered that I have too much time doing practically nothing at least for now. My friends are also not too much involved in anything. I am surprised that my generation has been virtually forgotten in the scheme of things. In the mounting national problems, one would have thought people of my generation will occasionally be called upon to make suggestions or to proffer solutions to one problem or the other. One would have thought retired academics who know about what universities should be like should be the ones being appointed chairmen and pro-chancellors of universities and polytechnics rather than failed politicians with their buccaneering attitude to appointments which they see as opportunity to eat. Personally I cannot complain and I thank the management of The Nation newspapers for giving me the opportunity to air my views and to ventilate and express opinions even when they are not sought. A friend and colleague  for whom I have tremendous respect once told me he was surprised that I am wasting my time pontificating on Nigerian issues because according to him those who should read your column have no interest in reading and consider it a waste of time reading not just newspapers but reading anything at all. He is actually right!

    I know chief executives from President to Vice President, President of Senate, Speaker of the House of Representatives, ministers and governors are given executive briefs by their permanent officials about what is in the press shielding them from what criticisms of their actions the news media carry. Thus they live in ignorant bliss thinking all is well. The reasons why this is so is that these chief executives have no privacy and time to read and reflect because hordes of hangers on continue to inflict their presence on these chief executives from dusk to dawn. I once witnessed the entire cabinet of a state still hanging around the governor’s residence at 3am in the morning. It is true that the affairs and work of government in Nigeria are done in the night! This is neither good for those in power nor good for the country. Governance requires sane mind, calmness, understanding of issues, ability to analyse data and opinions and recommendations of civil servants which a sleep deprived chief executive would hardly be able to do thus many of the state executives sleep-walk through problems that are  of immense importance to our nation . This probably accounts for our continuing to grope in the dark.

    To come back to retirement, I believe this is a time of reflection and leaving for posterity ideas which in the course of time may prove useful to those who succeed and survive us, for after all, we are no longer looking for fame or money but to leave a good name which is better than silver and gold. Our pensions are inadequate but as the Yorubas would say “tokete ba dagba tan omu Omo  ni nmu”. That is to say in normal circumstances the children of the old will support materially their parents. Many will say in these days of youth unemployment, it is the old who are supporting the young. This is a topic for another day.

  • ‘Only 7% of workers receive gratuity’

    ‘Only 7% of workers receive gratuity’

    The Managing Director of Entreprenovate Nigeria, Mr John Olawoyin, on Sunday said that only seven per cent of government workers receive their gratuity after retirement.

    Olawoyin in an interview with the News Agency of Nigeria (NAN) at a programme by Kosofe Local Government, Ogudu, Lagos, said that the indebtedness of government to retirees was worrisome.

    The theme of the programme is “Life After Retirement and Life as a Self-Employed’’.

    The programme, which held at the premises of the local government, had speakers from private organisations.

    He said many of the retirees had died while waiting in vain to receive what they had laboured for through their service years.

    “The high rate of indebtedness to retirees as regard their gratuity is alarming. Only about seven per cent do receive their entitlements on retirement, this is unacceptable.

    “Government, according to records, is owing retirees to the tune of N5 trillion which it wants to convert to bond, this is an inexcusable debt.

    “That governors award themselves mind boggling pension after serving for eight years at most, while neglecting those that may have worked for 35 years is a gross injustice.

    “Most of these retirees either die on the queue waiting to collect their pay or bed ridden waiting to collect their gratuity; it’s a pity that things could go wrong this far,’’ he said.

    Olawoyin said that it was painful seeing retirees suffer after their meritorious service to fatherland while politicians enjoy political largesse.

    “It is painful seeing these pensioners suffer after some have worked for many years without having anything to fall back on besides their hope which is hinged on gratuity and pension.

    “What is more worrisome is the way the politicians are apportioning a larger part of our commonwealth to themselves without thinking about the poor masses.

    “There is a need to restructure our system to encourage workers to be corruption-free while in service because thinking about what their plight may be after service may encourage corruption.

    “In some states of the federation, payment of gratuity is zero, some have not even paid entitlements for close to 12 years now, the facts are there for anyone to cross-check,’’ he said.

    Olawoyin said that workers should endeavour to brace up to face life after retirement in order to live well.

    “Workers need to brace themselves up for life after retirement and they can only do this by ensuring that they save for their future or better still have an investment.

    “That is why we are sensitising workers how to have a good life after retirement. It is possible to live as if one is still in service while in retirement.

    “First thing workers should know is that their salary cannot be enough, so they need to open up for streams of income and not waiting for government alerts only for sustenance.

    “Workers can engage in the provision of services that will not interfere with their job as a civil servant or public servant,’’ he said.

    Contributing, the Sole Administrator of Kosofe Local Government, Ogudu in Lagos, Mrs Jumoke Animawun, tasked the council workers on early preparation for their retirement.

    She said that preparation should start on the day of employment pointing out that early preparation was key to retirement.

    “Indeed, retirement starts with employment. This should be a slogan.

    “Kosofe Council is passionate about workers welfare and that is the reason we are embarking on programmes like this to enlighten workers on what they need to know.

    “Workers deserve to retire and enjoy their retirement, but in a case whereby they failed to plan, they get into dilemma managing whatever the meager they get from pension.

    “Workers need to be financially prudent and ensure that they do not spend all during their years in service.

    “Instead they should spend what is left after savings,’’ she said.

    Mr Rotimi Agunsoye, representing Kosofe Federal Constituency, advised workers not to wait till disengagement from service before investing.

    “This is a wonderful initiative by the local council; workers need to reappraise themselves on how they spend whatever they receive from government as salary.

    “Please do not wait till disengagement before you think of where to invest. The investment should start while in service,’’ Agonsoye, represented by Mr Bowale Benson advised.

    The News Agency of Nigeria (NAN) reports that Kosofe Local Government in partnerships with Entreprenovate Nigeria, Leadway Assurance Ltd and the United Bank for Africa (UBA) held the programme for the council’s workers.