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Economy

PenOp Vows To Comply With PenCom’s 3-Day Pension Payment Directive

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PenOp Vows To Comply

PenOp Vows To Comply With PenCom’s 3-Day Pension Payment Directive

PenOp vows to comply with PenCom’s 3-day pension payment directive. The Pension Fund Operators Association of Nigeria (PenOp) has assured the National Pension Commission (PenCom) that its members will comply with the recent directive to settle all pension benefits within three working days.

The National Pension Commission has mandated Pension Fund Administrators (PFAs) and fund custodians to approve and pay pension benefits to eligible applicants within three working days of receiving complete applications.

Oguche Agudah, chief executive officer of PenOp, speaking in Lagos, said that the directive was positive and could foster accountability.

Mr Agudah said PenOp members were fully aligned with PenCom’s efforts to enhance the efficiency and effectiveness of the pension system in Nigeria.

He said, “This is a good development for pensioners, Pension Fund Administrators (PFAs), and the entire system.

PenOp Vows To Comply

PenOp Vows To Comply

“PFAs are going to comply with this new directive, which is set to begin in June. We will ensure service levels are maintained, and we will also ensure people get their money as and when due.

“We recognise the importance of timely payment of pension benefits to retirees, and we are committed to working with PenCom to achieve this goal.”

Economy

Pipeline Explosion Rocks Rivers Community

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Fire

Pipeline Explosion Rocks Rivers Community

Pipeline explosion rocks Rivers community. An explosion has occurred in Bodo Community, Gokana Local Government Area (LGA) of Rivers State on Tuesday.

A resident of Bodo, reported that the blast took place on an onshore pipeline near the starting point of the Bodo-Bonny road.

He suggested that the explosion was likely an act of sabotage. He noted that it has not yet been linked to recent political tensions in Rivers State.

Explosion

Explosion

While the connection to political threats remains uncertain, the residents believe that if left unchecked, the incident could embolden others and potentially reignite unrest in the Niger Delta.

Authorities have not commented on the incident.

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Economy

UniCal Setup 25 Year Plan Ro Strengthen Workforce, Curriculum

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UniCal Setup 25 Year Plan

UniCal Setup 25 Year Plan Ro Strengthen Workforce, Curriculum

UniCal setup 25 year plan to strengthen workforce, curriculum. The University of Calabar says it has developed a 25-year plan to strengthen its workforce and curriculum.

Florence Obi, vice-chancellor of the institution, disclosed this on Tuesday in Calabar during an interaction with the media.

The media interaction is part of activities lined up for the 50th anniversary of the institution and the 37th convocation ceremony.

Ms Obi noted that paucity of funds was a major challenge for any public university, adding that it was the reason for the increase in money paid by students.

She explained that this would enable management to meet the increasing cost of running the institution.

“The federal government pays our personnel costs. They don’t give us money to run the university. In fact, UniCal receives N13 million monthly as subvention which does not cover our electricity bill before solar was introduced.

UniCal Setup 25 Year Plan

UniCal Setup 25 Year Plan

The vice-chancellor noted that they could not continue running the institution as an on-campus programme alone and said with 50,000 Open and Distant Learning Programme students, the university would have enough money to maintain facilities.

She appealed to the media to help the institution sell its Open and Distant Learning Programme, noting that the graduates also enjoy the benefit of the on-campus students, such as the one-year National Youth Service Corps.

Ms Obi, the 11th VC of UniCal and the first female to hold the position, was appointed on September 10, 2020, and her tenure will expire in September 2025.

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Economy

Government To Spend N1.5bn On Farm Mechanisation Firm In Jigawa

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Farm Mechanisation

Government To Spend N1.5bn On Farm Mechanisation Firm In Jigawa

Government to spend N1.5bn on farm mechanisation firm in Jigawa. The Jigawa State Executive Council has approved the release of N1,523,508,014.08 for the take-off of the newly established Farm Mechanisation Service Company.

The information commissioner, Sagir Musa, disclosed this to journalists after the weekly executive council meeting on Monday.
He stated that the approval aligns with the state government’s agricultural transformation initiative to enhance efficiency and effectiveness across the agricultural value chain.

Mr Musa further explained that the council had also approved an additional N969,084,772.10 to pay customs duty and taxes on mechanised equipment purchased from China.

He revealed that the council had also deliberated on and approved the draft bill for the establishment of the Jigawa State Flood Disaster Trust Fund.

Farm Mechanisation

Farm Mechanisation

“The council has directed that the draft bill be forwarded to the State House of Assembly for consideration.

“This is in line with the Namadi administration’s commitment to tackling floods in Jigawa state through effective and long-term solutions,” the commissioner said.

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