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Disquiet in National Assembly after Obasanjo’s Reproach

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By Eze Okechukwu, Abuja

The Senate has refuted allegations making the rounds that it is involved in fixing its own salaries and receiving special fiscal packages from the presidency.

These claims, which reportedly surfaced after a visit by members of the House of Representatives to former President Olusegun Obasanjo have sparked widespread public concern.

Speaking at his Olusegun Obasanjo Presidential Library in Abeokuta last Friday, while hosting six members of the House of Representatives led by Honourable Ugochinyere Ikenga, Obasanjo accused the federal lawmakers of collecting financial gratification to the sum of N200million each from the presidency.

In a statement yesterday, the Senate spokesman, Yemi Adaramodu who represents Ekiti South described the allegations as an attempt to “crucify the legislature by the centurions of political hypocrisy” pointing out that no Senator has received any financial patronage from the presidency.

Obasanjo said, “In your own case, with all due respect, you’re not supposed to fix your salaries.

“But you decide what you pay yourself, the allowances that you give yourself, newspaper allowances.

“You give yourself all sorts of things, and you know it is not right. It is immoral. “You’re doing it, the Senate is doing it, and you beat your chest.

“In some cases, the executive gives you what you’re not entitled to. You all got N200 million.”

Senator Adaramodu who maintained that there was no iota of truth in the allegation said, “The Senate receives only the salary allocated constitutionally by the Revenue Mobilisation Fiscal Allocation Commission.”

While challenging Obasanjo to substantiate his claim, Senator Adaramodu equally dismissed the allegation of financial patronage from the presidency insisting, “No Senator has received any monetary patronage from the presidency. The mischievously touted constituency projects are not for the legislators.”

The Senate spokesperson statement read in part: “The Nigerian Senate is petrified by the tattling story of determining its own salaries and receiving a special fiscal package from the presidency.

“This sordid and telltale assertion was amplified during a visit of a group of House of Representatives members to the former President Olusegun Obasanjo.

“To straighten the records, the Senate receives only the salary allocated constitutionally by the Revenue Mobilisation Allocation and Fiscal Commission.

We challenge anyone who is privileged, either in qualified or absolute position to bring forth any contrary fact. The Senators or the National Assembly do not and cannot fix their salaries. Any suggestions are contrary, uncharitable and satanic. It’s only an attempt to crucify the legislature by the centurions of political hypocrisy.

“The mischievously touted consistency projects are not for the legislators. They are only suggested and nominated by the legislators in accordance with the practice in other Democracies worldwide while the executive arm awards the contracts to qualified contractors and ensures the implementation of the projects through its respective ministries and agencies.

“And the amount varies depending on the number of constituencies in each state of the federation. It’s merely a contribution to the federal budget to ensure that every nook and cranny of Nigeria feels federal presence.

“We are actually in a season of political pontificating when irreverent scaremongering takes prominence.

“The 10th Senate is a responsible and responsive chamber, hence would not do anything that can harm the economy and growth of Nigeria.

“It thus receives only what the relevant agency of government constitutionally allocates to it. And would never solicit for extra ludicrous perks from the other arms of government.”Obasanjo had caused past administrations trouble when he continually wrote them open letters, detailing their bad ways.

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Heirs Insurance Posts N61bn Gross Written Premium

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Heirs Insurance Group has announced its audited financial results for the year ended December 31, 2024, showing strong year-on-year growth across business lines and metrics.The insurance group reported a combined Gross Written Premium of N61bn in 2024 for its life and general insurance companies, indicating a 70 per cent increase from the N35.

8bn recorded in the previous year.
Heirs Insurance Group is the insurance subsidiary of Heirs Holdings, the pan-African investment company, with investments across 24 countries and four continents.
The insurance group also recorded a combined insurance revenue of N31.4bn, which is about 53 per cent higher than N20.5bn in 2023. Profit Before Tax rose from N4.
8bn in 2023 to N11.2bn, more than double the previous year’s figure, and representing a 133 per cent year-on-year growth, and the group paid about N10.4bn in claims during the year under review compared to N4.18bn. Its total assets grew by 66 per cent, rising from N55.8bn in 2023 to N92.9bn in 2024.Analysing the financial performance of the entities that make up the group indicated that Heirs Life Assurance reported an 85 percent increase in Gross Written Premium from N23.87bn in 2023 to N44.22bn in 2024. Insurance revenue rose by 109 per cent to N15.1bn from N7.3bn in 2023 as its profit before tax grew to N5.5bn, up from N1.88bn, indicating a 193 per cent increase. Claims paid by Heirs Life also rose to N5.67bn, a 120 percent increase from N2.5bn paid to customers in 2023.Heirs General Insurance also maintained a strong growth trajectory as its Gross Written Premium rose by 42 per cent to N16.9bn from N11.9bn in 2023. Insurance revenue hit N14.3bn, a 19 per cent increase from the N12bn recorded in 2023, and profit before tax grew by 104 per cent, rising from N2.4bn in 2023 to N4.9bn in 2024. HGI also demonstrated strong claims responsiveness, with claims paid amounting to N4.7bn, up 25 per cent from N3.7bn in the previous year.The insurance broking and risk management consulting firm in the group, Heirs Insurance Brokers, posted growth as well. Its revenue grew by 54 per cent from N1.28bn in FY2023 to N1.97bn in 2024, driven by increased client acquisition and retention. Profit Before Tax rose by 53 per cent fromN528.59m in the prior year to N805.91m in 2024, highlighting strong cost discipline and operational efficiency.In a statement accompanying the financial results, the group said it had achieved year-on-year growth due to its strong leadership and corporate governance and a focus on driving digital innovation to make insurance simple and accessible.It added, “Beyond technology, the group drives advocacy across all customer clusters, aligning with its purpose to improve lives and transform Nigeria. Its Essay Championship drives insurance literacy among young students and the school ecosystem, and its travel festival advocates for more inclusive policies to enable cross-border travel, among many other initiatives.”Heirs Insurance Group serves both corporate and individual customers across Nigeria.

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Confusion Trails Mohammed Babangida’s BOA Chairmanship Appointment

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By Mike Odiakose, Abuja

The Presidency has denied reports claiming that Mohammed Babangida, son of former military president Ibrahim Babangida, turned down his recent appointment as Chairman of the Bank of Agriculture (BOA) by President Bola Tinubu.The clarification came after a letter, purportedly signed by Mohammed Babangida and circulated by Chief Dele Momodu, publisher of Ovation magazine and chieftain of the African Democratic Congress (ADC), suggested that Babangida had declined the offer due to personal and professional reasons.

However, presidential media aide Olusegun Dada swiftly dismissed the claims in a post on X (formerly Twitter), stating that Babangida had not only accepted the appointment but also expressed deep gratitude to President Tinubu for the opportunity.
“Muhammed Babangida has officially accepted his appointment as Chairman of the Bank of Agriculture,” Dada wrote. “He thanks President Bola Ahmed Tinubu for the trust reposed in him and categorically denies any report suggesting otherwise.”In a statement attributed to Babangida and shared by Dada, the former military president’s son condemned the letter as false, malicious, and intended to mislead the public and discredit the Tinubu administration.Further debunking the claim, Alhaji Mahmud Abdullahi, a media aide to Babangida, described the circulating letter as “fake” and the handiwork of mischief-makers. He insisted that the document was fabricated, bearing a forged signature and incorrect contact details.“Mohammed Babangida did not reject the appointment. The letter in circulation is fake,” Abdullahi said. “He remains grateful for the honour and is committed to serving the nation in this capacity.”The Presidency emphasized that those responsible for spreading the false information would be investigated and prosecuted, reaffirming its commitment to transparency and national cohesion.Tinubu had recently approved a series of high-profile appointments aimed at strengthening key government institutions, with Mohammed Babangida’s BOA chairmanship among the most notable.

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Retired Police Officers Defy Rain, Protest Against Pension Scheme

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By David Torough, Abuja

In a powerful show of frustration and resilience, scores of retired police officers braved heavy rain yesterday to protest at the gates of the National Assembly in Abuja. Their demand was clear: an immediate exit from the Contributory Pension Scheme (CPS), which they described as exploitative and dehumanising.

The elderly demonstrators, many in their 60s and 70s, carried placards and sang solidarity songs, accusing the government of neglecting their welfare after decades of service to the nation.
Among them was retired Chief Superintendent of Police, Manir Lawal, who said: “We deserve to retire in dignity. This scheme has impoverished us.”Undeterred by the weather, the retirees vowed to remain at the protest site until the leadership of the National Assembly addressed their concerns.
Security personnel were on hand to ensure order, but the mood remained calm and determined.Meanwhile, a similar demonstration took place in Ilorin, Kwara and Plateau States, where members of the Association of Retired Police Officers of Nigeria (ARPON) staged a peaceful protest. The group, led by retired CSP Yakubu Jimoh, echoed demands for an exit from the CPS and called for the creation of a dedicated Police Pension Board—similar to pension structures enjoyed by the military and other security agencies.Jimoh cited glaring disparities in pension benefits, stating that while senior police officers such as AIGs and DIGs had successfully exited the scheme, rank-and-file officers were left behind with meagre monthly stipends and inadequate gratuities. “Imagine being paid just N2.4 million after 35 years of service, and receiving N30,000 monthly. It’s insulting,” he said.Legal Adviser of ARPON, retired SP Adekunle Iwalaiye, emphasised that the protest was not about incitement or lawlessness, but a cry for justice. “We are Nigerians too. We have bullet wounds and sacrifices. Our pensions must reflect that.”However, the Nigeria Police Force has warned of attempts by “external elements” to hijack the peaceful movement. According to a statement posted on X, such individuals were allegedly encouraging confrontation and disorder. The police urged retirees to remain calm and assured them of ongoing efforts to resolve their demands.Inspector-General of Police, Kayode Egbetokun, met with the protesters in Abuja and denied allegations that he was opposed to exiting the CPS.He acknowledged the hardship endured by pensioners and confirmed ongoing high-level engagements, including a recent meeting with National Security Adviser Nuhu Ribadu, to improve retirement benefits.“I empathise with you. I am not opposed to leaving the CPS, but it’s beyond the power of any IGP to unilaterally remove the force from the scheme,” he explained. Egbetokun encouraged the retirees to remain hopeful, noting that alternative solutions to enhance the current system were being explored.In a related development, civil servants in Abuja have urged the Federal Government to fulfill its promise to pay four months’ arrears of the N35,000 wage award.Many expressed disappointment over the delay, accusing the government of insincerity and urging it to disburse the payments in full.As protests and demands for improved pensions grow louder across Nigeria, both retired and active personnel are calling on the government to honor its commitments and restore dignity to public service.

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