Pencom clears air on unpaid gratuities

http://www.bechburgmusikanten.ch/?to-do-online-homework By Newsdesk

http://www.sephiroth.it/?i-have-this-reaserch-paper-and-i-need-help i have this reaserch paper and i need help. The Acting Director-General of the National Pension Commission (PenCom), Aisha Dahir-Umar, has cleared on reasons some retirees under Contributory Pension Scheme (CPS), were yet to receive their  gratuity, stressing that the inability of the Federal Government to fund Defined Benefit Scheme (DBS) resulted to the backlog.

http://accounting-connections.com/?p=phd-dissertation-search Dahir-Umar further disclosed that the affected retirees had been in service before enactment of CPS Pension Reform Act, 2004, which came into effect to reduce stress retirees were often subjected to before receiving their benefits.

follow The Acting Director-General, who gave reasons for the continued delay during an interview with newsmen on Sunday in Lagos, noted that if the agency had embarked on payment of gratuities to pensioners, it would have been low.

source url According to Dahir-Umar, the Pension Transitional Arrangement Directorate (PTAD) has been fully established to handle the Federal Government retirees exempted from CPS based on regulation and supervision of PenCom.

http://www.dekart.com/?buy-a-research-paper-online buy a research paper online She said that the Federal Government under the DBS activated pay-as-you-go method for pension and gratuity on percentages of defined pensionable items.

http://djadjanan.com/?p=pay-someone-to-do-my-assignment-australia “However, the DBS faced the problem of huge pension liabilities arising from inadequate and untimely budgetary provisions and increases in salaries and pensions. Pension administration was largely weak, inefficient, less transparent and cumbersome, and marred with corrupt practices.” she added.

view The PenCom boss said that until recently, the Federal Government could not unburden DBS Accrued Rights because of huge unfunded pension liabilities inherited by the present administration.

http://corporalsafetymanagementllc.com/?p=help-on-dissertation-online “The Federal Government is overburdened with payment of pensions as illustrated by 2016 Appropriation Act which made a provision of N200.17 billion as total pension and gratuity allocation.

http://twogethercoaching.com/?p=online-dissertations-and-theses-oclc “The allocation is still insufficient to fund the liabilities. For instance the PTAD’s budget proposal indicated a total annual pension liability of N388.32 billion out of which N255.89 billion constituted unfunded liability inherited by PTAD.

http://assendared.com/i-get-someone-to-do-my-assignments/ The acting director-general, however, noted that more than 184,979 workers had retired under CPS and currently receiving pensions regularly.

http://emporiumsoft.com/product/lynda-com-narrative-portraiture-on-location-in-texas/ The PenCom boss noted that the Federal Government released N54 billion in April which had been used to pay part of the arrears.

essay writers toronto According to her, retirees from January 2016 to October 2016 have been paid gratuity and are receiving regular monthly pensions.

Dahir-Umar said that the Federal Government would soon release funds to pay the next batch of retirees.

“President Muhammadu Buhari should be commended for settling the accrued pension rights for that period. Despite competing demands for available cash, President Buhari has always expressed concern about the plight of workers and pensioners,” she added.

The acting director-general, however, said: “The number of registered contributors grew to 7.4 million as at March 2017, which represented 7.45 per cent of the total labour force in the country and 3.95 per cent of total population.

“The total pension fund asset hit N6.62 trillion as at March 2017 with an average monthly contribution of about N30 billion. The total pension assets were equivalent to about six per cent of the Nigerian rebased Gross Domestic Product (GDP).’’

Sokoto governor appoints committee on govt. quarters sale

By Newsdesk

The Sokoto state governor, Aminu Tambuwal, has approved the appointment of a 12-man Committee to supervise the sale of government quarters in the state.

In statement by his spokesman, Imam Imam, said that committee would be chaired by the Secretary to the State Government, Prof. Bashir Garba while the Head of Service, Buhari Bello, is a member.

Other members include the Commissioner for Lands, Housing and Survey, Bello Gwiwa, the Attorney-General and Commissioner for Justice, Sulaiman Adamu and the Commissioner for Finance, Alhaji Sa’idu

The spokesman for the governor noted that the quarters, which is aimed at reducing housing deficit in the state, would be sold to deserving occupants.

Imam disclosed that the governor directed the committee to ensure the demarcation carried out is strictly enforced without any violation of standard measurement.

‘‘They should alert beneficiaries on the need to preserve the vegetation within the vicinity of their surroundings to avoid unnecessary felling of trees,” he added.

The spokesman hinted that the governor directed that payments from the sale be deposited into a designated Government Account and tellers be forwarded to the Committee for documentation.

Imam said members were also allowed to co-opt any person that is considered to be relevant to the successful implementation of their assignment.

 

UN announces 37 job opportunities for young Nigerians

By Newsdesk

Respite are on the way for youths aiming to work at United Nation (UN) after its deputy secretary-general, Amina Mohammed, hinted that there are 37 career openings for young Nigerians.

Mohammed, who was former minister of Environment, said the openings were made available via the Junior Professional Officers’ (JPO) Programme, including internship for young graduates.

According to her, Nigeria has the opportunity to sponsor its youth for UN careers through the JPO. But Nigeria has not seized the opportunity in a long while.

JPO is a programme for the young people to come and grow their career at the UN and it has 37 positions for Nigeria – one for each of the 36 States and the Federal Capital Territory.

The JPO programme provides young professionals with hands-on experience in multilateral technical co-operation, and is one of the best ways to gain entry level positions within the UN system. And beneficiaries are sponsored by their own government, which fund their placement in one of a range of UN organisations.

Amina, who disclosed the vacancy at a Cultural Night organised by Nigerians working at the United Nations Systems, urged older generation to pave way for the youth by creating leadership opportunities for them .

The deputy secretary general urged them to stop competing with the younger ones for employment opportunities, stressing that it deprived the country’s youths opportunity to understand importance of leadership.

“Whenever there are opportunities, try and pave the way for the young ones; you are getting old and we want to see the young ones in the system. We need to give the youth the opportunity because if we don’t give them the opportunities, they can easily fall victims of crimes,” she added.

According to her, the Nigerian employees at the UN system are getting old and there is the need for the Nigerian youth to be allowed to come into the system.

“Home really does need us; there are leaders and we are trying with the professionals that we see in the United Nations. The work we need to do is not just to the world but also to remember that at the root of all that, you are only as good as where you come from.

“And it’s really important that we remember, with what we do here, what we can get back home, that we can encourage those at home, and inspire them.

“It’s not just what we do for the world.  Can’t we take those expertise back home,  Amina said, urging them to make the best use of every opportunity they got.”

She condemned what she termed alarming gender-based violence in Nigeria, saying it has increased in dimensions that one could never imagine.

“So when I look back home and I see that there are women that are coming back from Boko Haram captivity, they come back with a type of violence that many, for the rest of their lives, can’t recover from.

“But I also see that what is worse is the kind of violence that is visited upon the young girl. She is indoctrinated and convinced to tie a bomb around her and blow it off; that’s violence against girls; that’s violence against women.

“But what I wanted to say was that as we look at the gender-based violence initiative that we put a spotlight on our own nation; we all have a part to play. I know we would spend some money in Nigeria on this initiative but we all have a part to play individually and collectively in trying to bring it to zero,” she said.

Mohammed also lamented how girls were left behind in education, stressing that everyone needs to have an education – the boys and the girls.

“The boys we didn’t educate are the same ones that kidnap the girls that we educated. So education for everyone is exposure for everyone; it matters so much; it really does give us the basis, the moral compass to help us navigate through life.”

Nigeria’s Ambassador/Deputy Permanent Representative to the UN, Samson Itegboje, commended the Nigerians in the UN and particularly lauded the appointment of Mohammed as the UN Deputy Chief.

Itegboje said Nigeria was proud of Mohammed, describing her as an “ultimate authority and a reference point when it comes to Sustainable Development Goals’ issues”.

The Nigerian envoy said: “Nigeria is a great country; we are a happy people, you can’t take that away from us; we have gone through difficult times but we are happy that we have a government that is responsive to the yearnings and aspirations of dear people of Nigeria”.

Nigeria, Pakistan plan joint commission revamp after 4yrs collapse

By Newsdesk

After several years of abandoning Nigeria-Pakistan Joint Commission, both countries have concluded plans to revive the commission, in order to strengthen economic and trade relations between them.

The plan to revamp the commission was announced during a meeting between President Muhammadu Buhari and Pakistan Prime Minister, Shahid Khakan Abbasi, on Saturday in Istanbul, Turkey, where both leaders were attending the ninth D-8 summit.

Buhari, who expressed satisfaction at the level of defence and military cooperation between both countries, however agreed with the Prime Minister that there was still room to do more.

He regretted that the same could not be said on the economic and trade fronts, which he said had fallen far short of what can be achieved by both countries.

”Nigeria-Pakistan cooperation is very historical. Military training has been very consistent and I am impressed by the efficiency of officers trained in Pakistan. But the performance of our countries in relation to trade and industrial cooperation had been very disappointing,’’ Buhari added.

While noting that Nigeria had failed to use past earnings to create a commensurate level of socio-economic development, the President assured that his administration had identified the problems, and was ardently working to promote national development through international trade, industrial growth and the improvement of infrastructure.

He then urged Pakistan to take full advantage of the new climate of investment promoted by his administration, saying, there are a lot of opportunities, for us to harness, in the manufacturing sector, agriculture, commerce, solar energy and the electricity sector.

On the fight against terrorism, Buhari told the Pakistani Prime Minister that Boko Haram terrorist group remains degraded.

”We have moved them out from their strongholds in the North East, we have denied them space and even their attacks on soft targets are becoming less often. Even the opposition [party] recognises that there is a considerable improvement of security in the North East,” he added.

In his remarks, Abbasi said both countries had similar prospects and challenges, including large population, key regional players in economy and security; the fight against terrorism, improving governance and the domestic economy.

He said Pakistan will continue to share experiences with Nigeria in the fight against terrorism towards developing effective strategies and results.

In line with this promise, the Pakistani Prime Minister presented a manual on strategy and tactics of dealing with terrorism to the President, which he said, had been put together by his country’s army.

 On the Joint Commission, which next meeting falls on Pakistan to convene, the Prime Minister said his country is now ready, adding that he would personally receive the Nigerian delegation any time.

FG to construct 36 states central rail line

By Newsdesk

In a bid to reduce pressure on roads across the country, the minister of Transportation has disclosed that sizable portion of the $6.5 billion loan request forwarded by President Muhammadu Buhari to the National Assembly for approval would be expended on construction of central rail line that would link all states capitals.

It would be recalled that Buhari wrote to the National Assembly, seeking approval for $6.5 billion loan, which would be sourced through issuance of Euro and Diaspora bonds, aimed at financing capital projects.

The Minister of Transportation, Chibuike Amaechi, disclosed Buhari’s directives during a meeting with the Chairman Senate Committee on Local and Foreign Debts, Shehu Sani.

Also at the meeting were Ministers of Finance; Budget and National Planning;  and Power, Works and Housing, Kemi Adeosun, Udoma Udoma and Babatunde Fashola

Amaechi said that the central rail line project connecting several communities of northern and southern Nigeria would be completed in June, next year.

According to him, 17 coaches are expected to arrive next month. And from that number, 10 will be deployed to Abuja-Kaduna rail line while the remaining seven will be deployed to the Itakpe-Warri rail line.

Amaechi disclosed that some percentage of the loan being requested now for approval by the senate was to execute the rail projects covering Kano-Kaduna, and Lagos-Ibadan networks.

Sani said: “the committee has the mandate to examine the merits and otherwise of the current loan request of 5.5 billion dollars of the president. If we must bequeath to the future generation a pile of debt, it must be justified with commensurate infrastructural proof of the value of the debt.

“The payment plan of this debt will undoubtedly last the length of our lifetimes and possibly beyond. We must leave behind a legacy that will appease and answer the questions the next generation of Nigerians will ask,” he added.

Also providing insight into the loan request, the Director-General, Debt Management Office, Patience Oniha, explained that the loans have sustainable benefits that would live beyond the present generation of Nigerians.

“What we should take away is that we are going into projects whose benefits don’t go away. The roads don’t go away, the schools don’t go away, and the hospitals don’t go away but all that we need to do is to maintain them properly and that is the explanation I want to make on that,” she said.

Budget firm warns Lagos, Akwa Ibom, 34 others on external loans

By Newsdesk

A budget-based organisation, BudgIT, has cautioned 36 states governors to desist from accumulating debts especially from external loaners, stressing the the current exchange rate has further made servicing such debt difficult.

BudgIT’s appeale came barely 24 hours after office of the Accountant general disclosed that over N2 billion was spend by governors in the 36 states to service foreign debts in last month.

BudgIT’s Lead Presenter, Oluseun Onigbinde, who raised this concern while presenting the group’s 2017 State of States report on Thursday in Abuja, said that BudgIT aimed at making the Nigerian budget and public data more understandable and accessible across every literacy span.

He stressed that rising debt profile of states had become worrisome; hence the need for states to boost their Internally Generated Revenue (IGR).

“State governments are indebted to Nigerian banks and investors; shackled with by huge repayment debts borrowed against higher oil prices.

“Total debt stock of Nigerian states has increased significantly from the 2012 level of N1.79 trillion to N2.12 trillion in 2014. With increased inability to meet recurrent expenditure obligations and increased pressure, most states resort to more debt uptake; total debt profile of the states in 2015 and 2016 was N3.03 trillion and N3.89 trillion respectively.

“The debt profile of states is an understanding that their revenue has been poor and they have to resort loans and the statutory funds which the Federal Government provides.

“It is important that states begin to watch this; especially external debt; exchange debt risk can be a problem and some states like Lagos are facing it now and it can escalate to other states,” he added.

Onigbinde said that the only way forward was for states to raise their Internally Generated Revenue (IGR) , bring in investments, and become more efficient in the use of public resources.

He said that loans should be channeled to projects that could bring about sustainable development and impact on IGR such as building roads in industrial estate among others.

The lead presenter advised states to commit to a reduction in their operating costs and free up more spending on social infrastructure.

He urged states to harness the opportunities that abound in aquaculture agriculture manufacturing, trade, logistics and tourism.

We disbursed $160m to Tanzania for projects-UN

By Newsdesk

The United Nations (UN) has disbursed $160 million to the Tanzanian government between January and October this year, to fund various development projects.

Resident Coordinator for the UN Systems in Tanzania, Alvaro Rodriguez, hinted that UN spends an average of $200 million to support development projects in Tanzania annually.

He disclosed the statistics on Thursday in the commercial capital, Dar es Salaam, ahead of the UN’s 72nd anniversary on Tuesday, saying, half of the financial support was directed to refugees and the remaining half to various development projects.

Rodriguez said 72 years of UN operations were paramount to Tanzanian development, considering there were a number of challenges, including the influx of the refugees and the impact of climate change, which the east African country could not overcome single-handedly.

“Tanzania and the UN have had a good relationship in many years. While this country experiences various changes toward an industrial economy, the UN will extend their support in making sure the goal is achieved,” said Rodriguez.

He said the UN was committed to supporting Tanzania in its industrial economy agenda by investing in technical support through its agencies.

Senate to probe Paris Club Refunds, others

By Newsdesk

Worried by labour unions persistent complaint over unpaid salaries after Federal Government released Paris Club Refunds, the Senate has concluded plans to probe Refunds and other bailout funds to state governors by President Muhammadu Buhari were approved.

The lawmakers queried the legality of the funds given to 36 governors by the president, to offset workers outstanding salaries in their various states.

This came barely days after Buhari condemned strategies adopted by the governors in disbursing the funds to their workers, describing the action of the governors as reasons the efforts embarked upon by his administration were yet to impact on Nigerians.

The lawmaker’s decision followed a point of order raised by Samuel Anyanwu from Imo state during plenary, who afterwards, sought the leave of the Senate to move a motion on the matter during the next legislative day.

 

The President of the Senate, Bukola Saraki, sought and got the leave of his colleagues and approved that the proper motion be brought by Anyanwu, to the floor on another legislative day.

The Federal Government had released the breakdown of payments to the 36 states as refund of “over-deductions on Paris Club, London Club Loans and Multilateral debts on the accounts of States and Local Governments (1995-2002).”

The latest payment was the second tranche of the refunds to the states with a total of N243.8 billion released to the 36 states and Federal Capital Territory.

Buhari, while releasing the N243.80 billion as second tranche of Paris Club refund to states, urged the governors to use a major part of the funds to offset salaries, pensions and other allowances of workers.

Nigeria records $22.42bn investment in 10 months

data analysis discussion dissertation By Olawale Abdul-Fatah

The Federal Government has disclosed that $22.42 billion worth of investment was recorded between January and till date, stressing that the reform of Ministries, Department and Agencies (MDAs), embarked upon earlier in the year aided the achievement.

Meanwhile, the Apex government has warned private firms against embarking on actions that could undermine its ongoing reform of Ministries, Department and Agencies (MDAs) in the country.

Senior Special Assistant to the President on Trade and Investment, Dr. Jumoke Oduwole, who disclosed the statistics in Lagos on Thursday at the kick-off of Corporate Affairs Commission (CAC) sensitization programme, added that the fund was realized through 41 projects across 22 states.

She stressed that efforts embarked upon by the apex government was aimed at attracting more investors into the country, stressing that result of actions embarked upon earlier had helped improved the economy.

“The results have been encouraging as the inflows of capital in the second quarter of 2017 of about $1.8 billion were almost double the amount of $908 million in the first quarter of the year.

“Investor interest remains undoubtedly strong with announced investments of $22.42 billion from January to date in 41 projects across 22 states,” Oduwole added.

The Senior Special Assistant to the President on Trade and Investment hinted that sterling records would be achieved if the private sector desists from circumventing government plans and assists in adhering to the standards.

FG’s warning came barely two weeks after it commenced the second phase of its reform, which ends December 1st, aimed at improving ease of doing business in 11 areas of focus; the second phase was embarked upon following 70 percent success rate achieved in the first phase.

“As for the private sector, we will like to urge you to do your part in corporation with the Federal Government. And do not circumvent or undermine the effort of the federal government. Work with the agencies to ensure that we achieve development in the country.

“Our aim is to make business activities simpler and easier but we need your support in achieving this. We are appealing to you to support the reform initiative,” she added.

Earlier, the Acting Registrar General, CAC, Azuka Azinge, disclosed that the commission would be shutting no fewer than 10 Manual registrations in 10 more offices.

Oando responds to NSE, SEC trade suspension directive

By Abdulwaheed Usamah

Nigeria’s leading indigenous energy company, Oando, has responded to a directive of Nigerian Stock Exchange (NSE) and Securities Exchange Commission (SEC) which ordered that the oil firm should be suspended from trading from the securities’ floor.

Through a statement released on Wednesday by the company’s Chief Compliance Officer and Company Secretary, Ayotola Jagun, it disclosed that Oando received communication from the NSE that the SEC had issued a directive to immediately suspend the trading of Oando shares, a directive to which the NSE had complied.

According to the statement, the company is currently reviewing subsequent correspondence received o Wednesday from the NSE and SEC and management will provide a full statement of the company’s position as soon as possible.

“The Company remains committed to act in the best interests of all its shareholders”, it said.