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PenCom Recovers N24.53bn Pension Contributions From Defaulting Employers

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From Anthony Nwachukwu, Abuja

The National Pension Commission (PenCom) has recovered about N24.53 billion as pension contributions owed workers by defaulting employers.

Director-General of PenCom, Mrs Aisha Dahir-Umar, disclosed this yesterday at the 2023 Labour Writers Association of Nigeria (LAWAN) Workshop in Lagos.

She was represented by the Head of Corporate Communications of PenCom, Mr Abdulqadir Dahiru.

The workshop had the theme: “Securing the Future: The Benefits of the Contributory Pension Scheme to Nigerian Workers”.

Dahir-Umar said that the amount was recovered from June 2012 to March 31, 2023.

According to her, of the recovered sum, N12.

44 billion is actual pension contribution while N12.09 billion is penalty.

She said that during the first quarter of 2023, N384.28 million (comprising N193.06 million contributions and N191.22 million penalties) was recovered from 34 defaulting employers.

According to her, PenCom is committed to protecting workers’ interests and ensuring that employers pay pension contributions as and when due.

Dahiru-Umar added that PenCom was determined to ensure that Nigerian workers would receive their retirement benefits in time.

She said that the commission’s meticulous regulation and supervision of the pension industry had ensured that pension assets and the Contributory Pension Scheme (CPS) membership continued to grow.

According to her, the value of pension assets stood at N15.58 trillion as at March 31, while CPS membership was 9.95 million.

She noted that in 2022, PenCom launched a policy allowing Retirement Savings Account (RSA) holders to utilise a portion of their retirement savings as equity for mortgages.

She said that the policy marked a significant milestone in the commission’s ongoing efforts to provide greater flexibility and access to pension funds for the benefit of RSA holders.

“We recognise that many individuals face challenges in securing adequate housing upon retirement, and we aim to address this issue by unlocking the value of their pension savings to facilitate homeownership.

“Under this new policy, RSA holders who have contributed to their accounts for at least five years and met specific eligibility criteria can utilise up to 25 per cent of their pension savings as equity contribution towards acquiring residential properties.

“This policy aligns with our commitment to ensuring that pension funds catalyse economic development and social well-being,” she said.

Dahiru-Umar added that RSA holders could access 25 per cent of their RSA balance to cushion the effect of job loss if they could not secure another employment after four months of job loss.

She said that the partial withdrawal from RSA was to offer immediate support during a difficult period.

According to her, the remaining balance in the RSA will continue to grow and accumulate until the RSA holder attains retirement age.

The director-general urged LAWAN members to approach the workshop with an open mind and commitment to excellence in journalism.

She expressed optimism that enhancing journalists’ understanding of pensions would equip them better to educate members of the public, dispel misconceptions and foster financial planning culture and security among Nigerian workers.

“We firmly believe that a well-informed and engaged media plays a vital role in driving information flow and positive change in our society.

“As writers and journalists, you can shape public opinion and influence policy discussions.

“Therefore, we must work together to ensure accurate and comprehensive reporting on pension-related matters, which are of great significance to the well-being and future of Nigerian workers,” she said. (NAN)

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FG to Fund Key Science and Technology Projects through PPP

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By Tony Obiechina, Abuja Federal Government says it will consider using private sector funds through Public Private Partnerships (PPPs) as a funding option for certain key projects in the Ministry of Innovation, Science and Technology.This was disclosed when the Director General of the Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Oseodion Ewalefoh, paid a courtesy visit to the Minister of Innovation, Science and Technology, Mr Uche Nnaji.

The meeting which was at the instance of the ICRC DG, sought partnership between the two government bodies to harness PPPs to advance critical projects that can boost the economic and technological growth of the nation.
Speaking during the meeting, Dr Ewalefoh said that science and technology, if properly deployed, can serve as a key driver of the economic growth and progress of Nigeria.
“Many countries around the world have used Science and Technology to drive the economic growth and prosperity of their country and people.“We are here to brainstorm with you and find ways by which we can deepen the usage of science and technology for the advancement of our country.“Over the last two decades, countries and businesses have harnessed technology and innovation for upscaling their economy and improve the efficiency in their service delivery.“That is where we want our country to go, and we believe that is the vision you are championing under the renewed hope agenda of President Bola Ahmed Tinubu.“It is, therefore, my aspiration that your ministry will partner with the ICRC to see areas where we can champion private sector funding through Public Private Partnership to develop some of the projects specific to the ministry,” he said.The DG informed the Minister that there was already a collaboration with an agency under its purview but stressed that there were other key areas where PPP could be harnessed to deliver laudable projects in the Ministry.He added that the commission has streamlined its processes to accelerate PPP project delivery and deliver important services to the Nigerian people, pointing out that some key private sector operators have already verbalised their desire to work with the Ministry in a PPP arrangement.In his remarks, the Minister expressed his excitement at the appointment of Dr Ewalefoh as the DG of ICRC, saying that the DG’s wealth of experience will revolutionise the PPP sphere in Nigeria, adding that, indeed, a square peg has been placed in a square hole.The Minister emphasised that the Ministry served as a key enabler of economic growth and has had the support of President Bola Ahmed Tinubu demonstrated through major approvals granted the Ministry.He said that the President had given approval for methanol production, saying that although the implementation process were still being finalised, foreign direct investments for the project has reached over $1.5 billion.“We want to go into beneficiation of raw materials and we have the presidential executive order number 5 to back it, such that we don’t have to export our raw materials, but process it to a level before exporting. We are looking at doing green hydrogen, too,” he said.He stressed that Nigeria could make a lot more from cassava export than it was currently making if the raw cassava was processed before export.“We believe that with ICRC, we will partner in doing things right and enabling us to forge a better outlook for most of these projects.“In methanol, we are going to involve ICRC more closely to see the way forward and how it can benefit the country better.“I am happy that you are here; coming here shows that you know what you are doing. You are taking services to those that need it,” he said.

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Suspected Herdsmen Attack Benue Community, Kill 15

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From Attah Ede, Makurdi

Gunmen suspected to be Fulani armed militia, on Wednesday night, reportedly invaded Anyiin town in the Logo Local Government Area of Benue State.

Multiple reports indicated that no fewer than 15 persons were killed in the attack, leaving several others with varying degrees of injuries while yet to be ascertained number were missing.

The attack, which was said to have been launched at about 6:30pm by the well-armed Fulani herders, caught the community unawares as the invaders reportedly emerged from different locations shooting at everyone in sight.

The attackers, who were said to be numbering about 200, were reported to be wielding AK-47 rifles and other sophisticated weapons, operated for about three hours.

An eyewitness and community leader in Anyiin town, Chief Joseph Anawah, said the armed herders overwhelmed security operatives stationed in the town because of their large numbers.

He said it was a coordinated operation, stating that the alleged Fulani terrorists took residents of the town unawares, surrounded the town and shot sporadically.

Anawah said some of the villagers who ran for their dear lives were caught in an ambush laid by the invaders.

He listed some of the victims to include: Mr Orihundu Ati, a retired primary school supervisor and the son of a kindred head.

Also killed was a son to a Chief of Staff to a former Logo council chairman, Tordoo Suswam and a relation of a late District head of Ukemberagya, Zaki John Chembe.

Anawah listed Ukemberagya, Tswarev, Mbawar, Gov, Mbainange, and Tombo among neighbouring communities earlier displaced by the invaders and whose residents were taking refuge in Anyiin before the latest attack.

The community leaders appealed to the federal government and the Benue state government to revive an abandoned Mobile Police barracks project along Akwana-Anyiin-Wukari road to secure the lives and property in the communities.

They lamented that farmers in the affected communities could not harvest their crops because they were being killed and abducted on their farms by the armed invaders.

According to them, communities along the Benue-Taraba border are the worst hit by the marauders’ incessant attacks.”This is the second attack in one month by the Fulani terrorists. On Oct. 9, they attacked Ayilamo town, the headquarters of Tombo Council Ward and killed scores of people. As I speak, people are deserting Anyiin town for fear of the unknown”, Chief Anawah said.

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Nigerians Among Most Malnourished in Sub-Saharan Africa – Abbas

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By Ubong Ukpong, Abuja

Speaker of the House of Representatives, Tajudeen Abbas yesterday described growing malnutrition and food insecurity as great threat to Nigeria’s economic stability and public health.

Inaugurating the Local Organizing Committee for the National Assembly summit on nutrition and food security in Abuja, the Speaker reiterated the urgent need for legislative action to restore the country’s productivity and public health.

Abbas who was represented by Deputy Speaker, Benjamin Okezie Kalu noted that Nigeria’s rate of malnutrition is among the highest in sub-Saharan Africa.

He noted that malnutrition, especially among children, stunts physical and cognitive development, impacting long-term educational and economic potential and contributing to broader societal challenges.

The Speaker assured the lawmakers’ full support for the committee’s initiatives, urging collaboration with State Houses of Assembly to create a unified approach to combating food insecurity.

He said, “The need for this National Summit on Nutrition and Food Security has never been more urgent.

“This organizing committee’s mission is to foster collaboration across ministries, engage both public and private sectors, and create a platform for lawmakers, experts, and community leaders to address the root causes of food security challenges.”

The chairman of the committee, Chike Okafor said there is malnutrition across Nigeria, particularly in the north spiking by 51 percent among children.

He described the situation as a humanitarian crisis exacerbated by recent floods in Adamawa, Maiduguri, and Jigawa, which have disrupted food supplies nationwide.

According to him, the summit will help to in the formulation of policies to tackle food insecurity.

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