Benue Govt Owes over N22b Gratuity – Ortom
The Benue state governemnt is owing over N22billion in gratuity to its retired staff, the Governor, Samuel Ortom has said.
Ortom stated this on Monday, during the inauguration of the Chairman and members of the State Pension Commission in Makurdi.
He disclosed that he inherited N18 billion gratuity liability in 2015, and that because of paucity of funds to upset the debt coupled with additional number of retired workers overtime, the debt had risen to N22 billion.
He further disclosed that the monthly pension bill of the state was now N800 million as against the N400 million bill he inherited in 2015.
The governor said the state needed to urgently commence full domestication of the National Contributory Pensions Scheme Act 2004 to mitigate the sufferings of retirees.
He specially commended the 8th State Assembly for passing the PENCOM bill and expressed optimism that in no distant time retirees would have cause to smile home after retirement.
“The members are all victims of non payment of gratuities and pensions; so, they understand the pains of not being paid.
“Benue pensioners have been very patient with me and that has given me a lot of burden on my shoulder to ensure that something is done about it urgently,” he said.
Ortom warned the commission members to be wary of people who may want to sabotage their efforts with the aim of enriching themselves to the detriment of the pensioners.
He urged them to bring their experience to bear on the job and block all leakages in the pension sector.
Speaking on behalf of the inaugurated commission members, the Chairman, State Pension Commission, Mr Terna Ahua, pledged to provide a permanent solution to the problem of retirees.
Ahua, a former Head of Service of the State, commended the governor for his political will to address pension and gratuities issues in the state.
Other members to serve as commissioners on the commission include: Mrs Ruth Ijir, Administration and Technical Services, Mr Joseph Venda, Technology and Pension administration and Pius Idoko, Finance and Investments. (NAN)
DMO Offers N150bn Sukuk Bond for Subscription at N1, 000 Per Unit
The Debt Management Office (DMO) on Tuesday offered for subscription, Ijarah Sukuk valued at N150 billion.
According to a statement by the DMO, the Sukuk is issued by Federal Government of Nigeria (FGN) Roads Sukuk Company PLC, on behalf of the Federal Government.
It said that the Sukuk were offered at N1,000 per unit, subject to a minimum subscription of N10,000 and in multiples of N1,000 thereafter.
“Rental payment is made half-yearly, and bullet repayment is done on the date of maturity.
“Proceeds will be used solely for the construction and rehabilitation of key road projects and bridges across the six geopolitical zones of the country,” the DMO said.
It added that the Ijarah Sukuk was backed by the full faith and credit of the Federal Government.
“It qualifies as securities in which trustees can invest under the Trustee Investment Act.
“Qualifies as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act for tax exemption for pension funds among other investors.
“To be listed on the Nigerian Exchange Limited and FMDQ Securities Exchange Limited, ” it said.
It added that the Ijarah Sukuk was classified as liquid asset by the Central Bank of Nigeria (CBN) and certified by the Financial Regulation Advisory Council of Experts of the CBN.
The News Agency of Nigeria (NAN) reports that the Sukuk is a Sharia-compliant instrument that represents the interests of the owner in an asset or pool of assets.
It ensures that every financial activity is backed by real economic activity, is usually linked to specific infrastructure projects.(NAN)
Umahi congratulates Mbah, urges opposition parties to stop distraction in Enugu
…..Umahi congratulates Mbah
Minister of Works, Chief Dave Umahi, has congratulated Gov. Peter Mbah on his victory at the Enugu State Governorship Election Petition Tribunal, even as he called on opposition parties to stop distracting the governor.
Umahi, who is an All Progressives Congress (APC) stalwart, said it was not about party affiliation but about the quality of the individual chosen by the people of the state to lead them.
The minister, who said this when he inspected the collapsed bridge at the Enugu end of the Enugu-Port Harcourt expressway, advised the opposition in the state not to waste their time contesting Mbah’s ‘divine and people’s mandate’.
He also said that Mbah’s initiative to commence the reconstruction and dualisation of Enugu-Abakaliki road up to the Ebonyi boundary was another display of people-driven leadership by a private sector person in governance.
“I am happy that you came from the private sector. There is a high hope, especially with the steps you have taken so far.
“They are in tandem with President Bola Tinubu’s steps and I pledge to support you. There must be a change; we must reset the country.
“I want to publicly say, while congratulating you on the tribunal victory, that whoever is taking you to court must stop wasting his time as you are clearly the people’s choice and for good reasons.
“So we will continue to support and pray for you and I urge whoever is distracting you that they should understand the steps of God and know that your emergence is divine and we are very proud of you.
“I know Gov. Mbah as a very successful private person and he is going to bring it to bear in the governance of this state.
“I also believe that what he is bringing to the table will rub off positively on Enugu State, the entire South-East states,” he said.
The minister also commended Mbah for ending sit-at-home in the state, describing it a major step forward for the Igbo nation.
“Let me also thank you for being able to courageously stop sit-at-home in Enugu State.
“It is a major thing you have done for the Igbo people and for the country,” he said. (NAN)
…..Umahi congratulates Mbah
FG Plans Full Production Capacity Revamp for DICON – Matawalle
By Tony Obiechina, Abuja
The Minister of State for Defence, Dr Bello Muhammed Matawalle, has charged the staff and engineers of the Defence Industry Corporation of Nigeria (DICON) to improve on their performances as Federal Government plans to revamp and scale up the industry to a full production capacity.
In a statement by the Acting Director of Press and Public Relations of the Ministry, Attari Hope in Abuja on Saturday, Matawalle stated this during his maiden visit to DICON facilities in Kaduna State.
In an address to staff of the industry, he said “as the technical personnel of this promising industry, your professionalism and dedication to work is paramount in sustaining the vision and growth of this industry.We will ensure you get adequate funding to achieve this.”
The Director General of DICON, Maj Gen AE Edet, lauded the Minister of State for his words of encouragement and assured hm of DICON’s unwavering commitment to its vision and objective which it was set up.
As part of his maiden tour of DICON, the Minister of State visited the DICON’s Special Equipment Factory, Ballistic Helmet Production Unit, Tailoring Unit, amongst others.
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