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Cote d’Ivoire Pledges to Strengthen Economic Relations with Nigeria

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Mrs Toure Maman, Ambassador of Cote d’Ivoire to Nigeria, has called for deeper economic cooperation with Nigeria to strengthen trade relations between the two countries.


Maman said this while addressing participants on the occasion of the country’s 59th Anniversary of the Independence of Cote d’Ivoire in Abuja on Wednesday.


She said that the country had maintained growth of its Domestic Gross Product (GDP) despite political crisis recorded in 2011 for the seventh year consecutively.


According to her, the growth exceeded 7 per cent and should reach 7.

2 per cent this year, because of reforms carried out by the Ivorian Government to improve the business climate.

Maman said, “The private sector has become the main driver of growth, notably through massive investments in the telecommunications, agro-food and Public Works Building (PWB) sectors.
“This is an opportunity for companies and business people based in Nigeria and other parts of the world to do business in Cote d’Ivoire with the security index at 1.1.
“The economic upturn will not have been possible without cooperation with Nigeria; Indeed, Cote d’Ivoire and Nigeria maintain excellent ties of friendship and cooperation, since the diplomatic relations in 1961.
“Our bilateral relation has deepened in recent years by the will of President Alassane Ouattara of Cote d’Ivoire and President Muhammadu Buhari of Nigeria.”
The envoy put the total volume of trade between both countries at $600 billion.
She revealed that the country would organise its first international forum titled “Made in Cote d’Ivoire” in Eko Hotel, Lagos from Dec. 1 to Dec. 8, 2019.


She said that the Ivorian Government had made arrangement to ensure smooth conduct of its 2020 presidential election through the adoption of the new Independent Electoral Commission.


She listed the establishment of a bill to promote 30 per cent of women representation in elected assemblies and provision of social infrastructure to major achievements by the government in 2018.
In a message of goodwill, Mr Mustapha Sulaiman, Permanent Secretary, Ministry of Foreign Affairs, said that the relationship between both countries had been cordial.
According to him, both countries have crossed over from being just friends to becoming brothers.


“We look forward to improvement in this relationship, we are not only brothers as nationals, but we are also brothers in ECOWAS, African Union and all international participations.
“This is why I cease this opportunity to convey Nigeria’s best wishes to Cote d’Ivoire and we look forward to many more successful anniversary celebrations.


“We look forward to strengthen Cote d’Ivoire/Nigeria relations, by supporting one another in brotherhood, to enable our citizens enjoy doing business in both countries,” Sulaiman said.
The event which attracted stakeholders from the Diplomatic community in Abuja featured traditional dances and video documentary about history of Cote d’Ivoire independence. (NAN)

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PenCom Recovers N25.45bn from Defaulting Employers in 11 Years

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By Tony Obiechina, Abuja

The National Pension Commission (PenCom) has successfully recovered a total sum of successfully recovered a total of N25.45 billion in unremitted pension contributions from defaulting employers between the years 2012 and 2023.

This substantial amount encompasses the principal contributions of N12.

93 billion and penalties totalling N12.
52 billion in about 11 years.

The disclosure was made by the Head of Corporate Communications of PenCom, Mr Ibrahim Buwai during the Finance Correspondents Association of Nigeria (FICAN) Annual General Meeting held in Abuja at the weekend.

Buwai highlighted the importance of the Pension Reforms Act, noting that the legislation mandates penalties for late remittances, accruing interest at a rate of 2% per month.

He emphasised the nearly equal distribution between recovered principal contributions and penalties, underscoring the comprehensive efforts to enforce compliance.

He said: “From the inception of these recovery agents’ programmes in 2012 to December 31, 2023, the principal contributions that were recovered were about N12.9 billion while the penalty was about N12.5 billion.

“So, you can see that it’s almost 50-50. All this is what has been recovered from employers and paid into RSAs. The good thing is that all this penalty and principal goes into the individual RSA account.

“Nobody takes a penny, not PFAs, not PenCom, nobody. All these money recovered were for RSA holders and it goes into RSA. What you can help us by way of employers is that it is not in their interests not to remit because it is cheaper to remit than not to remit.”

 Addressing Compliance Challenges

PenCom’s recovery efforts are not without challenges. Buwai pointed out two major issues: employers failing to remit pension contributions and the lack of proper schedules accompanying remittances to Pension Fund Custodians (PFCs), which hampers the allocation of funds to RSA holders.

PenCom has taken proactive measures to combat these issues, including publicising a list of uncredited remittances and urging concerned parties to ensure compliance.

Buwai said, “We have the issue of employers not remitting. The second issue is that employers remitted but if there is no company schedule that shows the employers that these monies belong to Pension Fund Custodians (PFCs), they cannot apportion to RSA holders.

“We are not happy and that is why in 2023, we put out a statement on it and on our website, we have a long list of remittances that we saw were uncredited, calling on the people concerned to come forward and make sure the remittances are done.”

Ensuring Pension Fund Safety

Reiterating PenCom’s commitment to the safety of pension funds, Buwai assured that the regulatory body maintains strict guidelines to safeguard pension assets. These guidelines are meticulously designed to protect pension funds against potential investment risks.

He said:, “We are not wavering, we have not made it lax or easy. All those stringent guidelines that were thoroughly outlined so that pension funds might be protected in the event that these investment instruments might be available – those stringent requirements remain.

“All we know is that if the pension funds are available, pension funds managers will review and take their decisions.

“I have to also clarify that PenCom does not partake in investment issues on the pension funds.

“All we do as regulators is that we set out general guidelines as contained in our investment regulations.”

The diligent efforts of PenCom to recover unremitted pension contributions reflect its unwavering commitment to protecting employees’ retirement savings and ensuring employers adhere to regulatory obligations.

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FCTA Shuts Illegal Orphanage over Alleged Trafficking of 23 Children

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By Laide Akinboade, Abuja

Mandate Secretary of the FCT Women Affairs Secretariat, Mrs Adedayo Benjamins-Laniyi on Monday revealed that the Federal Capital Territory Administration (FCTA) has sealed off an orphanage in Karanmajigi, the Priesthood Orphanage after 23 children, aged one to 14 were trafficked from Plateau State.

Benjamins-Laniyi stated this at a press conference in Abuja, where she said that the FCT Minister, Nyesom Wike had authorised the secretariat to profile and recertify orphanages operating within the FCT.

According to the Mandate Secretary, “There is no question, yesterday, with immediate effect, that ‘home’ was sealed, shut down.

“We have the name of the proprietor of the orphanage home, but we are not naming names now for obvious reasons.

“When the entire material investigation is concluded, there will be an official gazetted presentation of the facts, the findings and the delivery of this intervention we’ve started here today.

“NAPTIP, as we speak is already on it. Using this as an example, one of the first things I have done is to get approval for the recertification of orphanage homes in Abuja.

“The minister has approved that there should be a full thorough reprofiling of anything that has to do with orphanage and recertification status of all orphanages in Abuja.”

She noted that the Women’s Secretariat was already working with the office of the Commissioner of Women Affairs of Plateau State to reunite the children with their families, some of whom she said had been at the uncertified orphanage for five years, since 2019.

“We are working with the Plateau State government to reunite the children that I had earlier mentioned by name and by age, with their families in Plateau State. This is a transition arrangement,” she said.

The Plateau State Commissioner for Women Affairs, Mrs Caroline Dafur narrated that the proprietors of the orphanage home abandoned the children at the orphanage, under the care of one Pastor Abraham, in a terrible condition of hunger.

Three of the children had then escaped and were discovered by officers of the Federal Road Safety Corps (FRSC), who reported the case to NAPTIP and took the children to the Human Rights Radio, who then notified the Plateau State government and the FCT Women’s Secretariat.

“We came in yesterday and on reaching here, we were told that they went to church.

We kept going from one church to another, looking for them until we found them in a Deeper Life Church, where we were able to pick them up, and we went to the home. We saw the place, in fact, it is not supposed to be called a home.

“The place is just so unkempt. I wonder how the children were sleeping in the small room.

“Nine girls were sleeping in a very small room with just two mattresses. And then for the boys, they were in a small room too, with two mattresses just on the floor.

“And I mean, it’s so pathetic the way human beings treat human beings in this country,” Dafur explained.

She expressed the displeasure of the Plateau State government, while appreciating the Mandate Secretary for the assistance in evacuating the children and relocating them to the Karu Childrens’ Home.

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NARTO Strike Causes Fuel Scarcity in Abuja

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By Laide Akinboade, Abuja

Many fillings stations in the Federal Capital Territory (FCT) were on Monday shut down, leading to long queues by motorists at the few outlets that were dispensing petrol.

Operators in the downstream oil sector confirmed that the development was due to the suspension of operations by the Nigerian Association of Road Transport Owners (NARTO), in fulfilment of their threat to down tools beginning from Monday.

The Nigerian National Petroleum Company Limited (NNPCL) filling station on Arab Road in Kubwa, Abuja, was closed on Monday morning.

The Conoil filling station along the Zuba-Kubwa expressway had long queues.

NNPCL retail outlet in the Central Business District of Abuja also had very long queues on Monday morning, as many other stations run by independent marketers closed shop due to the halt in the transportation of petroleum products by NARTO members.

On the airport road, all the filling stations on the corridor were not dispensing.

It was reported that the Federal Government had ordered oil marketers to negotiate with NARTO to avert the planned suspension of operations by it members.

The report stated that oil marketers and the executives of NARTO met about six times in between Saturday and Sunday, following the declaration of the petroleum products’ transporters to halt operations.

It also stated that the Federal Government through the downstream regulator and the petroleum ministry would meet with NARTO members, as well as other parties today (Monday) in Abuja to sort out the issues.

NARTO had vowed to stop lifting petroleum products beginning from today (Monday) due to the high cost of operations.

NARTO members have repeatedly raised concern over the high cost of diesel required to power their trucks for the transportation of petroleum products across the country.

Oil marketers had lamented  that diesel price was between N1,250 to N1,400/litre depending on the area of purchase.

NARTO’s President, Yusuf Othman, had in a statement he issued in Abuja on Thursday, said the statement was an official announcement from the association’s headquarters that members of the group would park their trucks from Monday.

“Why? It is because what we spend on operations is more than what we get in total, both in local and bridging,” he stated.

While the tanker operators insisted that the suspension of operations was still in force, it was, however, gathered on Monday that the meeting between them and the Federal Government was ongoing at the time of filing this report.

This, according government sources, was aimed at halting the suspension of operations by NARTO in order to avert a nationwide scarcity of fuel.

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