Nigeria has partnered with the AKWAABA African Travel Market, as its headline sponsor for the 20th anniversary, slated to hold from Sept. 22 to 24.The strategic collaboration marks MTN’s first-ever participation in the prestigious event, reinforcing its commitment to driving growth and progress across Africa through technology.

This is contained in a statement by Mr Ikechi Uko, Organiser of AKWAABA African Travel Market, in Lagos, on Saturday. Uko said as the headline sponsor, MTN Nigeria would lead strategic engagements to underscore its transformation from a traditional telecoms provider, to a comprehensive technology solutions leader, dedicated to revolutionising business operations across various sectors.He said with an extensive portfolio designed to meet the evolving needs of MSMEs, large enterprises, and the public sector, MTN Nigeria offered innovative technologies that would enhance operational efficiency, streamline processes, and drive organisational success.“This partnership signals a new chapter in empowering African businesses within the hospitality sector, with technology at the forefront of increased productivity and impact.“The 20th edition of the Akwaaba African Travel Market, set to commence on Sunday, Sept. 22, will feature in-depth discussions on transitioning Africa’s travel and tourism industry from traditional models to a technology-driven economy.“MTN Nigeria will contribute its technological expertise to the event by providing a panel of distinguished experts over the three-day period.“Notable MTN representatives include Ifeanyi Otudoh, Senior Manager of Converged Solutions; Joshua Chijioke, Head of Business Development at Chenosis; Omowunmi Olatunbosun, Head of SME Segments, Enterprise Business; Akinbulejo Onabolu, Head of Public Sector and Large Enterprise; and Bayo Omomowo, Head of Information Technology, MoMo PSB,” he said.According to him, the conference segment of the expo will feature an impressive lineup of esteemed speakers from across Africa.He said the speakers included Davidson Mugisha from Rwanda, Dr Adama Bah from The Gambia, Ahmed Naaman from Ghana, and Nigerian entertainment mogul, Edi Lawani.He noted that Humphrey Geiseb, Namibian Ambassador to Nigeria, will also be in attendance.“On Monday, Sept. 23, the Africa Travel 100 Awards for Global Leaders in Tourism, will recognise the outstanding contributions of individuals shaping Africa’s travel landscape.“The famous Jollof Rice War will also open the expo on Sunday, while Tuesday’s Youth Tourism Session will welcome special guest, Mrs. Lola Ade-John, Nigeria’s Minister of Tourism.“The event will conclude on Tuesday, Sept. 24, with the Lagos Day Celebrations, where the Lagos State Ministry of Tourism, Arts, and Culture, will highlight the state’s rich tourism assets.“The closing ceremony will include the prestigious, Fatima Garbati Tourism Outreach Grant, a N5 million grant awarded to young tour operators and tourism departments, underscoring the event’s commitment to fostering growth and innovation in the sector.“MTN Nigeria’s involvement in Akwaaba 2024 underscores its mission to lead through technology, enabling industries to thrive in an increasingly digital world,” he said. (NAN)

By Tony Obiechina, Abuja

A total of 483,464 Nigerians have withdrawn N247.47 billion from their Retirement Savings Accounts (RSAs) in the second quarter of 2024 due to job losses. According to data from the National Pension Commission (PenCom), this withdrawal represents 25% of their pension savings and highlights the impact of the rising cost of doing business in Nigeria, leading to widespread unemployment.

The Chief Executive Officer of the Pension Funds Operators Association of Nigeria (PenOp), Ogwuche Aguda made the disclosures during the 2024 annual conference of the Pension Correspondents Association of Nigeria (PenCAN) held in Abuja. Aguda also provided an update on the contributory pension scheme, noting that contributions from both the public and private sectors rose to N5.72 trillion in Q2 2024, while total pension assets reached N20.87 trillion as of the same period.The withdrawal in Q2 2024 significantly exceeds the N182.2 billion withdrawn by 443,720 RSA holders in Q3 2022, reflecting the deteriorating economic conditions, attributed by critics to faulty policies implemented by the current administration.Aguda further revealed that N169.67 billion, representing 0.81 per cent of total assets, was invested in infrastructure as of July 2024. Additionally, N2.16 trillion, or 10.35% of total assets, was invested in the equity market, while N2.25 trillion was channelled into corporate debt in the second quarter of 2024.Aguda commended the Contributory Pension Scheme (CPS) for its transformative impact on pension management in Nigeria, describing it as a shift from a broken system to one that is transparent and reliable.However, the National Union of Pensioners criticised the 2004 Pension Reform Act for failing to address key issues, including the periodic adjustment of pensions for retirees. The union claims this shortcoming has driven the Nigeria Police Force to seek an exit from the CPS.”The new scheme can be better if we address its challenges. There has been no increment for years, which is why the Police and other stakeholders want to leave the scheme,” said Bunmi Olukolade, the union’s publicity secretary, during the PENCAN event. He stated that lack of adequate post-retirement support has led many to engage in corrupt practices to secure financial stability in old age, adding that “If pensioners are well cared for after service, agencies like the ICPC and EFCC would have less work to do”.Meanwhile, PenCom has reassured Nigerians that the federal government’s outstanding pension liabilities under the CPS will soon be cleared. PenCom’s Director-General, Mrs. Omolola Bridget Oloworaran, disclosed that the commission has successfully computed the backlog of pension liabilities. Represented by the head of Corporate Communications, Ibrahim Buwai, Oloworaran at the event, she emphasised that efforts are underway to resolve the issue swiftly. “This matter will soon be behind us,” Buwai assured, reaffirming the government’s commitment to addressing the outstanding arrears.She said RSA holders can now use a portion of their pension savings as equity contributions for residential mortgages. “This initiative has already empowered over 5,000 workers to achieve homeownership, with N47.13 billion disbursed as equity contributions from their RSAs to mortgage lenders”, he added.

The All Progressives Congress (APC) says Sen. Monday Okpebholo remains its governorship candidate in Saturday’s governorship election in Edo.Mr Felix Morka, the party’sNational Publicity Secretary made the party’s position clear in a statement issued in Abuja.Morka said the clarification became necessary following fake news thatOkpebholo had been disqualified by a magistrate court.

“In the final hours to the Edogubernatorial election scheduled to hold Saturday, Sept. 21, 2024, certain political parties have desperately resorted to forgery and disinformation on our candidate.“The blackmail is to the extent of circulating a fake magistrate court ruling purportedly disqualifying Sen.Okpebholo, the APC gubernatorial candidate in the election.“The circulated ruling is fake, a fabrication and an act of pure desperation in the face of their imminent defeat at the polls,” Morka said.He said the magistrate court that purportedly issued the fake ruling had issued a disclaimer, stating categorically that it did not emanate from him.Morka added that the fake ruling meant to sow seeds of doubt about the APC candidate, was a blatant and calculated attempt to subvert the will of the Edo electorate.“We call on our law enforcement agencies to identify, investigate and bring the perpetrators of this falsehood to book,” he said.He, therefore, urged Edo voters to remain vigilant and resolute in the exercise of their democratic rights at the polls.He expressed trust that Edo people would ignore this and other illegal devices by desperate candidates and their parties to subvert the election.“Sen. Monday Okpebholo is and remains, the standard bearer of the APC in Edo gubernatorial election,” Morka stated. (NAN)