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Sanwo-Olu Clears N68bn Pension

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The Lagos State Government under Gov. Babajide Sanwo-Olu has cleared N68.5 billion pension arrears for retirees in the state public servant.

The Head of Service Lagos State,(HoS) Mr Bode Agoro, disclosed this on Tuesday in Lagos.

Agoro spoke at a public sensitisations on Contributory Pension Scheme (CPS) for public servants in the state, organised by Lagos State Pension Commission (LASPEC).

The HoS hailed Sanwo-Olu for his continuous efforts in ensuring that the senior citizens receive their retirement benefits immediately they exit the service.

He also commended the governor for placing premium on the well-being of the public servants, as well as the retirees.

He said the CPS, which was passed into law on  March 19, 2007 in Lagos, was to provide a sustainable retirement plan that ensures financial security upon staff retirement from active service.

“Since its introduction, a lot of government policies have been made to strengthen the Nigerian pension industry, provide security for citizens’ savings, well as protect workers’ retirement benefits.

“However, all these policies have come with the need to align ourselves, as workers, with the evolvement of the scheme.

“Knowledge, they say is power, and

information is key. Therefore, a man without the right information will no doubt be deformed,” he said.

According to him, the need to avoid misinformation regarding the CPS, led to the sensitisation orgnaised by LASPEC, to disseminate vital information about important updates and changes on the CPS as it affects stakeholders.

The HoS added that the state had continually embarked on data updating exercise, occasioned by linking of National Identification Number (NIN), to all of the existing accounts, be it in the banks, telecommunication service providers and others.

He noted that it was imperative to have the data recaptured with the Pension Fund Administrators (PFAs) to ease documentation, facilitate processing and smooth pension payments upon retirement.

According to him, for those who just have their service documents regularised, changed locations or names, the exercise was poised to provide them with fresh opportunities to register such changes with their PFAs, accordingly.

He said: “Considering the different development that public servants might have experienced over the years, this exercise will be made periodic to allow you register such development with your PFAs.

“This is to enable updated information that will ease processing of your retirement benefits by LASPEC as well as the PFAs.

“As partners in progress, our PFAs will be made available at the Adeyemi-Bero Auditorium at Alausa, Ikeja, for four days as scheduled in our circular, to attend to your proper documentation.

Agoro commended LASPEC for the laudable initiatives and bringing the PFAs services to the doorsteps of the civil servants for them to update their data accordingly.

He urged the workers to pay attention to the vital information  concerning the pension scheme.

“Let me reiterate that this exercise is not aimed at stressing anybody, however, it is an avenue to ease the process of receiving your retirement benefits as soon as you exit the services,” he said.

In his address, Mr Babalola Obilana, Director General (DG), LASPEC, said that the sensitisations was crucial to share vital updates and changes in the CPS to the public servants.

Obilana explained that the CPS was designed to ensure that all employees have a secure and sustainable source of income upon retirement.

He said the scheme operates on a simple principle: both employees and employers contribute a portion of the employee’s salary into a pension fund, which is then managed by a designated authority.

“This collective effort provides financial security for our future and fosters a culture of savings and responsibility among public servants.

“It is a mutual commitment to one another that we all need to embrace,” he said.

He noted that over the years, the administration of the CPS in Lagos state had undergone several important updates, aimed at enhancing its efficiency and transparency.

The DG said that the changes reflect on the commitment to improving the management of pension funds and ensuring that the benefits are protected and accessible.

He added that one of the most significant changes was to enhance collaboration between LASPEC, the PFAs and the Annuity Service Providers (ASPs).

The director-general noted that LASPEC had been streamling the processes to ensure easy access to pension benefits at retirement.

“This collaboration is crucial in ensuring that your retirement savings grow and are managed responsibly.

“However, despite these advancements, it has come to our notice that a number of public servants in MDAs and parastatals, are yet to open their Retirement Savings Accounts (RSAs).

“This oversight has serious implications for their future financial security,” he said.

According to the DG, many of these individuals find their pension benefits sitting in an escrow account as a result of not having RSAs.

Obilana said that the situation was not only detrimental to the financial future of such defaulters, but would also complicate their pension payment process upon retirement.

He urged the affected workers and other public servants of the state to take advantage of the programme, do the needful and update their data with the PFAs accordingly.

The event was attended by public servants from various MDAs and parastatals of the state.(NAN)

NEWS

NPERA Deepens Transparency, Accountability in Port Sector

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By David Torough, Abuja

The Nigerian Ports Economic Regulatory Agency (NPERA), has reiterated its commitment to transparency, accountability and responsible management of public resources as it settles into its new role as Nigeria’s port economic regulator.

The Director-General/Chief Executive Officer of NPERA, Dr.

Akutah Pius, stated this when he received a delegation from the Civil Society Coalition for Transparency and Good Governance (CSCTGG), led by its Executive Director, Comr. Success Uko, on a courtesy visit to the Agency’s Abuja Liaison Office.

Akutah said the Nigerian Shippers’ Council had transitioned into NPERA under the new legal and regulatory framework, positioning the Agency to provide stronger economic regulation of Nigeria’s port sector.

He assured the delegation that NPERA remained committed to responsible management of public funds in the discharge of its statutory responsibilities, as well as promoting regulatory practices that enhance confidence and efficiency in the maritime sector.

The DG/CEO said the Agency would give due consideration to the Coalition’s request for collaboration and take appropriate formal steps to explore areas of partnership that align with NPERA’s mandate.

Earlier, the Executive Director of CSCTGG, Comr. Success Uko, said the Coalition was seeking a working relationship with NPERA to promote transparency, accountability, public awareness, stakeholder participation and good governance in the maritime sector.

Uko described NPERA as a critical stakeholder in Nigeria’s transport and maritime sector, noting that effective regulation and access to accurate information were important to improving service delivery and strengthening public confidence.

He said the Coalition had developed initiatives focusing on transparency, accountability, good governance and community development, and sought NPERA’s support towards their implementation and wider impact.

According to him, the proposed collaboration would also promote greater awareness among shippers, importers, exporters, transport operators and other stakeholders about policies, procedures, rights and responsibilities within the maritime sector.

He assured NPERA of the Coalition’s readiness to support legitimate programmes and initiatives of the Agency that are consistent with its statutory mandate.

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NEWS

2027: INEC ‌‍‍‍⁠⁠‌⁠‍‍‌‍‌Appeals for Peaceful Conduct, Promises Neutrality

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The Independent National Electoral Commission (INEC) has appealed to political parties, candidates and voters to ensure peaceful conduct before, during and after the 2027 general election.

Resident Electoral Commissioner (REC) of INEC in Ondo State, Dr Mutiu Agboke, made the appeal at a major stakeholders meeting on Thursday at the commission’s offices at Akure South and North Local Government Area of the state.

Political parties, security agencies, traditional rulers, religious leaders, NYSC members, National Association of Transport Owners (NATO) and other drivers union, among others were present.

Agboke, who visited the traditional ruler of Iju and Ita-Ogbolu in Akure North Local Government Area, said the stakeholders meeting became necessary to ensure the forthcoming election was free, fair and credible.

According to him, credible elections are a collective responsibility and that security, traditional institutions and transport unions all play a critical role in protecting voters, officials and election materials.

The REC, who said INEC would remain neutral and transparent, warned that the commission would not tolerate partisan leaning, vote-buying, intimidation or any act capable of undermining the credibility of the poll.

“This advocacy is for the commission and our major stakeholders to be on the same page because our expectation is to let votes count.

“The recent elections conducted by INEC are enough proof to show that people’s votes determine the direction of who wins.

“Meanwhile, we don’t want them to engage in violence, nobody should allow him or herself or wards to be used for violence and desist from engaging in vote buying.

“It is only votes lawfully cast and duly counted would determine winners,” he said.

He, therefore, assured that INEC officials had been trained to adhere strictly to the Electoral Act and its guidelines, while the commission’s doors remained open for questions and clarifications to avoid misinformation.

Agboke reiterated INEC’s promise of neutrality, saying that preparations for the 2027 general elections had already begun in earnest.

According to the REC, the success recorded in recent by-elections in the state will be built upon to deliver free, fair and inclusive polls that reflect the will of the people.

In their separate responses, Oba Idowu Faborode, The Ogbolu of Ita-Ogbolu; Oba Amos Farukanmi, The Okiti of Iju and religious leaders, pledged to sensitise their subjects and congregations on non-violence.

Also, Dr Gbenga Jemiloye, Akure South Local Government Chairman of All Progressive Congress (APC), applauded the commission for the meeting, saying it showed INEC was ready for the election.

The security agencies and drivers union assured of adequate deployment across the state, while the transport unions committed to timely movement of personnel and materials.(NAN)

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DAILY ASSET Loses Political Editor, Mike Odiakose at 63

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By David Torough, Abuja

The management and staff of DAILY ASSET have announced the death of the newspaper’s Political Editor, Mike Odiakose, who passed away in the early hours of Thursday at the Federal Medical Centre, Keffi, following a brief illness.

Odiakose, aged 63, was described by the management of DAILY ASSET as an accomplished journalist, who served with dedication across various media organisations in Nigeria before joining the newspaper two years ago.

In a statement personally signed by the Publisher and Editor-in-Chief of DAILY ASSET, Dr.

Cletus Akwaya, the newspaper expressed sadness over the death of the veteran journalist, saying he would be deeply missed by his colleagues and members of the wider media community.

“Management and Staff of DAILY ASSET regret to announce the sudden passing of our Political Editor, Mr Mike Odiakose in the early hours of today (Yesterday), following a brief illness at the Federal Medical Centre Keffi,” the statement said.

The management noted that Odiakose’s contributions to journalism extended beyond DAILY ASSET, where he worked for two years, having previously served with dedication in several media organisations across the country.

He is survived by his wife and children.

The newspaper prayed for the peaceful repose of his soul and offered its condolences to his family, colleagues and associates.

“May his gentle soul rest in perfect peace. Amen,” the statement added.

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