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Labour Called For 50% Pension Withdrawal Rights

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NLC

Labour Called For 50% Pension Withdrawal Rights

Labour called for 50% pension withdrawal rights. Mr Ajaero also demanded for better worker benefits and accountability.

The Nigerian Labour Congress (NLC) has called for an increase in the Retirement Savings Account (RSA) withdrawal limit, proposing to raise the threshold from 25 per cent to 50 per cent.

NLC president, Joe Ajaero, made the demand during a roundtable discussion with the management of the National Pension Commission (PenCom) in Abuja on Thursday.

The event had the theme, “Consolidating the Gains of the Contributory Pension Scheme through Collaboration with Social Partners.”

Mr Ajaero explained that the proposed increase would enable workers to meet critical financial needs such as investments in agriculture, education, and healthcare, especially given the current economic challenges.

He also urged the federal government to fully constitute the PenCom Governing Board, warning that the continued absence of a complete board threatened the integrity of the Contributory Pension Scheme (CPS).

According to him, while a chairman is currently in place, the lack of a fully functional board hampers strategic oversight, delays key decisions, and undermines proper governance within such a vital institution.

“Congress is deeply concerned about the continued non constitution of the full board of the PenCom.
“In the absence of this board, how do we ensure the integrity of the commission’s actions until the board is in place,” he said.

NLC

NLC

Mr Ajaero also demanded for better worker benefits and accountability.
” Firstly, the NLC urged PenCom to leverage technology to significantly reduce the long processing time for retirees to access their entitlements, demanding payments within weeks, not months after retirement.

“Secondly, we propose a formal establishment of a standing NLC-PenCom committee to meet quarterly to proactively address workers grievances.
” Thirdly, they called for immediate regulatory action against ineffective PFAs and defaulting employers, including publishing the names of non-compliant employers and applying stiffer sanctions,” he said.

Mr Ajaero said there were concerns over the proposed amendments to the Pension Reform Act 2014 (PRA2014), that workers were not informed.
The PenCom director-general (D-G ), Omolola Oloworaran, said that the CPS was the most transformative social reform the country had ever seen, saying it had restored confidence and dignity in retirement.

The D-G said that PenCom would be driving several key reforms, including the Pension Revolution 2.0, a bold initiative aimed at expanding coverage, strengthening regulation, and enhancing service delivery.

She said that the discussion also centered on the revised Regulation of Investment of Pension Assets, designed to preserve safety and optimise returns for contributors.
Ms Oloworaran said that the micro-pension scheme had been renamed the “Personal Pension Plan.”

She said that PenCom would share updates on the proposed amendments to the PRA 2014, requesting the NLC’s input.
“The CPS can only remain strong when Nigerian workers believe in it.

“And how better to improve trust in the system than partnering with the Nigerian Labour Congress, which is closer to the people and who champion the cause of the people as well,” she said.
Ms Oloworaran, while welcoming the NLC delegation earlier, noted that “this relationship is indispensable especially as the commission prepares to intensify its regulatory activities.”

“There will be no PenCom without labour and we need labour to achieve our goals and as we go into full-drive enforcement mode.

“Labour is a reliable partner that we want to count on,” Ms Oloworaran said.

Economy

Okpebholo Threatening Me With Violence, I’ll Fight Back Says Obaseki

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Obaseki

Okpebholo Threatening Me With Violence, I’ll Fight Back Says Obaseki

Okpebholo threatening me with violence, I’ll fight back says Obaseki. Godwin Obaseki, the immediate past governor of Edo, has accused Monday Okpebholo, his successor, of threatening him with violence. Obaseki spoke during the weekend at an event in London, the United Kingdom.

BACKGROUND
Since assuming office in November 2024, Okpebholo has initiated a series of actions aimed at scrutinising Obaseki’s tenure.

He first constituted a 14-member committee to investigate the assets, liabilities, contracts, and financial decisions made under Obaseki.

Okpebholo then expanded the scrutiny to the state civil service, ordering a probe into all recruitments conducted between May and November 2024, alleging a violation of due process.

Last week, Okpebholo asked the federal government to repatriate Obaseki to answer questions over public funds linked to the controversial Museum of West African Art (MOWAA) project.

‘OKPEBHOLO THREATENING ME’

Obaseki said the governor is threatening him with violence and allegedly sent thugs to attack him in the UK.

“Those who live by the sword will die by the sword,” Obaseki said. “And to tell the governor, Okpebholo, I don’t know him; I have never met him. When you start with violence, you will reap violence.

“For one year since I left office, I didn’t say one word. I decided to respect myself and allow them to try [in governance] as well. Go and find out, you won’t see one thing I said about his government.”

He accused Okpebholo’s government of being behind the attack on diplomats during the exhibition in MOWAA.

“As if that was not enough, the government paid people to come to Manchester to attack me,” he said.
“Who has started this violence? Is it me? Last week, this governor held a disgraceful press conference in which he threatened me not to come to Benin.

Obaseki

Obaseki

“They have been threatening violence. So if I respond, nobody should hold me responsible. “I can’t leave myself empty to be hurt and attacked by deranged people.

“So I am going to fight back. I will fight back. I didn’t start the fight. They are afraid. They know they did not win the election.”

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Economy

Jigawa: 9,600 Teachers Register For Special Training

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Teachers Register For Special Training

Jigawa: 9,600 Teachers Register For Special Training

Jigawa: 9,600 teachers register for special training. No fewer than 9,600 teachers under the Jigawa State Universal Basic Education Board (SUBEB) registered for a competency test to determine the specific training required to improve their skills and enhance teaching outcomes in the state.

The Executive Chairman of the Board, Professor Haruna Musa, revealed this while briefing journalists on the purpose of the examination, adding that 12,000 teachers were expected to register for the exam.

He explained that the state government, under the leadership of Governor Malam Umar Namadi, was committed to repositioning the state education sector as a key foundation for sustainable development, in line with its “12-Point Agenda.”

Prof. Haruna noted that while the government has been spending significant resources to improve educational infrastructure, meaningful learning improvements cannot be achieved without also enhancing the capabilities of teachers.

“Based on that, the State Executive Council approved for the board to organise a competency test for all teachers. This will enable us to understand the kind of training each teacher requires to improve his or her skills”.

“Out of the 9,600 teachers registered for the exam, over 70% have never attended any capacity-building training since they were employed, including some with over 15 years of service,” the Chairman added.

Teachers Register For Special Training

Teachers Register For Special Training

He stated that after the exam, the teachers will be categorised into three groups: Group A, those with both knowledge and teaching skills; Group B, those with knowledge but lacking teaching skills; and Group C, those lacking both knowledge and teaching skills.

“Each group will be offered specialised training. Those in Group C will undergo intensive training and subsequent examinations for a period to ensure they are equipped with the required knowledge and skills”.
“For those with slower learning uptake, we will attach them to competent teachers within their schools for ongoing guidance and mentorship,” Prof Haruna said.

He further stated that the project is not about retrenchment, but his primary goal is to enhance teachers’ capacity for better learning outcomes within the state’s basic education sector.

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Economy

PFA: Leadway Pensure Leverages Innovations For Quality Service Delivery

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Leadway Pensure

PFA: Leadway Pensure Leverages Innovations For Quality Service Delivery

PFA: Leadway pensure leverages innovations for quality service delivery. A Pension Fund Administrator (PFA), Leadway Pensure said, it is leveraging innovation to escalate quality

service delivery to its retirement savings account (RSA) holders. This milestone marks 20 years of trust, exceptional service delivery, and value creation as it celebrates its anniversary. It highlights two decades of dedication to protecting the financial wellness of Nigerian workers.

Over the last 20 years, the PFA has served thousands of customers across Nigeria and beyond, standing as a clear testament to its commitment to providing financial stability at various stages of workers’ career journeys.

Speaking on this remarkable achievement, MD/CEO, Leadway Pensure PFA, Olusakin Labeodan, stated that: “As we celebrate 20 years of Leadway Pensure PFA, this milestone is more than a celebration of longevity, it is a tribute to trust, service and innovation.

From the very beginning, our mission has been very clear, to deliver a pension system without barriersOver two decades, we have transformed this vision into reality by simplifying pension access, embracing cutting-edge technology, and ensuring our services are always within reach. With a nationwide presence, a robust mobile platform, and the AI-powered assistant LISA, we have made pension services accessible to eligible Nigerians.

“We have supported countless customers in achieving life goals, from retirement to home ownership, by ensuring access, clarity and care at every step. This is a testament to the strong relationships and legacy we have built with every customer. Trust is at the heart of our service, propelling us to uphold world-class standards and earning us global certifications such as ISO/IEC 27001:2022 for information security, a mark of our unwavering commitment to safeguarding our customers’ funds. ”

Leadway Pensure

Leadway Pensure

Looking ahead, the company said, it is committed to promoting youth-focused financial literacy, growing personal pension plans and strengthening customer engagement across every stage of the pension journey.

“The next years and beyond will be shaped by the same dedication that brought us this far, a future-forward mindset, a culture of excellence, and an unyielding promise to stand by our customers every step of the way,” Olusakin concluded.

As it commemorates 20 years of service, Leadway Pensure reaffirms its commitment to simplifying retirement planning, delivering consistent value, and driving financial inclusion across Nigeria.

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