NEWS
Police Exit from Contributory Pension a Huge Risk – PenOp
The Pension Fund Operators Association of Nigeria (PenOp), has expressed concerns over proposals from the Nigeria Police Force (NPF), to exit the Contributory Pension Scheme (CPS) to Defined Benefits Scheme (DBS).
Mr Oguche Agudah, the Chief Executive Officer of PenOp, voiced the concern on Tuesday in Abuja during a public hearing on a bill for an act to establish a police pension board.
He said that the CPS operates on a pre-funded model with both employees and employers contributing a mandatory percentage of the employee’s salary.
Agudah said that usually, a minimum of eight per cent from the employee and 10 per cent from the employer, totaling a minimum contribution rate of 18 per cent, is usually gathered.
He said that either party had the latitude to contribute a higher percentage, which allows pension funds to accumulate and be invested for future payouts.
Agudah said that the National Pension Commission (PenCom), as of September, had a total pension assets, under the CPS, that had exceeded ₦20 trillion (approximately $12 billion),
He said that PenCom had ensured that the funds were not solely reliant on government budgets, thus reducing vulnerability to fiscal constraints.
Agudah said that the transitioning to the DBS would not solve the police’s concerns.
“It will, rather, create deeper financial and operational challenges for the country,” he said.
He said that the CPS had proven to be a transparent, sustainable and resilient system for managing pensions, benefiting both retirees and the broader economy.
Agudah said that reverting to the DBS model, which relies on government budgetary allocations, would lead to fiscal unsustainability and delayed payments for pensioners.
“Moving the police out of the CPS will require a staggering N3.5 trillion annually to fund pensions for approximately 400,000 personnel, in a budget already burdened by deficits. This is simply unsustainable.
“It will also divert resources from other critical needs, including minimum wage adjustments and public services,” he said.
Agudah said that pension funds under the CPS are currently invested in bonds, infrastructure and other critical sectors that contribute to the country economic growth.
He said that unwinding the investments to accommodate a DBS for the police would erode the value of assets and destabilise the financial system.
Agudah said that the CPS currently holds over N21 trillion in assets, and remains a critical component of the country’s economic infrastructure.
He said that maintaining the police within the CPS would ensure long-term sustainability, equity and economic stability.
Agudah said that setting a dangerous precedent was not good.
“If the police exit the CPS, other public sector groups may demand similar transitions, fragmenting the pension system and undermining reform efforts.
“And our key aim and our key goal is to ensure that all pensioners are paid on time, all pensioners have a living pension, and everybody gets their pension on time.
“What we heard at the hearing is actually a joy to us because what we are seeing is that even the sponsor of the bill is on the path that it is not really the CPS that is the problem of the police. It is the welfare.
“So, what we have said is, if your salary is small, your pensions will be small,” he said. (NAN)
NEWS
NDA Records Successes in Military Training, Academics in 2024
The Nigerian Defence Academy (NDA), says it has recorded a lot of successes in military training and academic activities in 2024.
The Commandant of NDA, Maj.-Gen. John Ochai, said this at the Nigerian Defence Academy Social Activities (NDASA), held at the headquarters of the academy Afaka on Friday in Kaduna.
Ochai said the essence of NDASA was to end training activities of the year.
He said the 2024 NDASA was unique because the academy marked 60 years of existence from 1964-2024.
Also of significance, Ochai said, NDA had passed out the largest number of officers commissioned into the Armed Forces of Nigeria in 2024.
Equally, he said, in the same year (2024), the academy had the largest number of officers trained outside the country.
He emphasised that the NDA does not only train leaders for the Nigerian Armed Forces, but those for the Nigerian nation and humanity at large.
“After five years of training, we imbibe in officers leadership qualities that are everlasting.
”The traditions, ethos, characters that we instill in our cadets follow them forever and become very useful in all spheres of human endeavors,” Ochai said.
Mr Martins Amaram, Country Security Manager, Nigeria Breweries, PLC , who was the Special Guest of Honour, said the event fostered unity, cultural awareness and comradeship among the cadets and the larger community.
Amaram said, “The academy has always been a beacon of excellence in producing military leaders for integrity, resilience and capacity to face in a dynamic and complex world .
“Beyond academics and military training the academy still values cultural respect and social engagement, recognising the diversity of our great country. Nigeria.”
He commended NDA for creating the platform where cadets can appreciate the rich cultures and build bonds that transit borders.
Amaram added, “The Armed Forces of Nigeria are playing a critical role in ensuring the stability and progress of our nation. “
He urged the academy to continue to record more successes in its mission of excellence and service to the nation.
Report says that awards were given to deserving soldiers who distinguished themselves in 2024.
report says that 22 soldiers were decorated from Warrant Officer(WO) to Master Warrant Officers(MWO). (NAN)
NEWS
Corps Member Donates Delivery Kits to Pregnant Women in Katsina
A Corps member serving in Katsina State, Blessing Ene-Ameh, has distributed free delivery kits to 50 pregnant women in Mani town, Mani Local Government Area of the state
The corps member distributed the delivery kits to the expectant mothers in Mani on Friday as part of her personal Community Development Service (CDS)project.
Eneh-Ameh said that she visited a hospital in the area during one of her group CDS programmes and observed that the hygiene of women in the antenatal and children’s wards was not too good.
The corps member also stated that she had noticed that the turn up of pregnant women for antenatal care was very low.
She said, ”This attracted my attention to the need to educate pregnant women on its importance.
“There is also the need for them to keep themselves and their surroundings very neat to avoid infections for themselves and their babies.
“The aim was also to educate them on the importance of planning for the future of the baby.
”They also need to be staying clean to reduce the risk of contracting infections and other diseases by both the mothers and children, as well as the community in general.
“The training will empower the women to be able to handle and bring up children for the family,” Eneh-Ameh explained.
The NYSC Coordinator in the state, Alhaji Sa’idu Ibrahim, commended the corps member for her ingenuity and magnanimity to carry out the project.
Represented by the Local Government Inspector, Alhaji Abdulrazak Ismail-Tsiga, the coordinator urged the corps members serving in the state and other parts of the country to emulate her. (NAN)
NEWS
FUSHO Ag VC Promises Collaboration with Lydia Memorial Hospital
By David Torough, Abuja
The Acting Vice Chancellor of the Federal University of Health Sciences, Otukpo (FUHSO), Prof. Stephen Abah has promised a stronger collaboration with the Memorial Hospital, Ugbokolo for better health services to the people.
Prof. Abah stated this when he received a team of management of the hospital led by the Chief Executive Officer and Medical Director, Dr.
Mark Ogbodo on Thursday in his office on a courtesy visit.The Vice Chancellor expressed his profound gratitude and thanked the management of the hospital for the visit and described the CEO of the Hospital, Dr. Ogbodo as a long time friend who has a quest for excellence.
On his part, Dr Mark Ogbodo, who is a FUHSO Ambassador and the Immediate Past Public Relations Officer of the Nigerian Medical Association, Benue State Branch as well as the Immediate Past Secretary of the Association of the Nigerian Authors, Benue State Chapter said that the visit was to congratulate Prof.
Abah on his recent well deserved feat as the FUSHO Acting Vice Chancellor.Dr. Ogbodo who described Prof. Abah as a great achiever and mentor to many and whose achievements are commendable, presented to him, on behalf of the Hospital, an Award of Excellence, in recognition of his exceptional achievements and contributions to academic and medical excellence in Nigeria, examplary leadership prowess and in appreciation of his countless courtesies extended to Lydia Memorial Hospital.
He added that the Hospital’s vision is to ensure a complete state of well-being of patients and promote healthy medical practices in all forms with the mission to provide affordable and easily accessible excellent healthcare services through God’s gifted hands in the purest forms is also poised to deliver the best healthcare services to the people.
Other dignitaries at the occasion were the University’s Bursar, Librarian, Registrar and other members of the university management.