FG Begins Implementation of New Retirement Age for Teachers

Image

By Sodeinde Temidayo David

The federal government has disclosed that it has commenced the implementation of new retirement age for teachers in the country.

This disclosure was made in Abuja while marking the 2021 World Teachers Day celebration themed Teachers at the Heart of Education Recovery.

At the 2020 World Teachers Day Celebration, President Muhammadu Buhari approved the extension of teachers’ retirement age to 65 years from 60 years or 40 years of service instead of the former 35 years of service.

At this year’s event, the President said the Ministry of Education has commenced education officers’ guidelines to ensure seamless implementation, stating that this had been negotiated and the outstanding salaries of affected teachers would soon be paid before December.

“I am not going to recount the entire components for implementation; however, the Federal Ministry of Education has commenced the pilot implementation of the increase in the retirement age to 65 or 40 years of service for teachers,” the President noted.

He further expressed that for teachers to effectively be at the heart of education recovery, there is a need for continuous re-tooling in the field.

He noted that teachers and all those connected with teaching and learning will now undergo annual training on modern techniques of teaching and learning.

Mr Buhari also revealed that education parastatals and other non-governmental organisations would partner with the government to achieve this aim, promising to collaborate with the defence ministry to ensure the protection of children in schools across the country.

The Minister of Education, Mr Adamu Adamu, commended the President and added that in an effort to fast track the implementation, the ministry constituted a national implementation committee, which submitted resolutions for implementation.

He noted that the ministry will liaise with the 36 states ministry of education, including the FCT Education Board, to identify the respective courses of study required by each state.

As stated by Mr Adamu, the award of N150,000 is proposed for undergraduates and N100,000 only to National College of Education (NCE) students.

Following this, beneficiaries must attend public institutions only and sign a bond to serve their state for five years on graduation.

The fund is set to be sourced from UBEC, TETFund and managed by the Federal Scholarship Board and sponsorship to at least one refresher training per annum.

Mr Adamu called on Nigerian teachers to continue to support the government to shape the future of the education sector and the country at large.

At the teachers’ day event held in Abuja, there was a presentation of the president’s teachers and schools’ excellence award to outstanding teachers and schools across the country to commemorate their day.

The awards are classified into different categories such as the 2021 best teachers in public, private schools, best public and private schools and best school administration.

Share
Related Stories
Image
12-September-2023

FG Promises to Raise Education Budget to 25%

By Adedapo Adesanya The federal government has promised to increase the budget for education to 25 per cent, according to the Minister of Education, Mr Tahir Mamman. The Minister said this at the Nigeria Annual Education Conference (NAEC) in Abuja on Monday, themed Implementation of Education 2030 Agenda for Sustainable Development in Nigeria. He said the administration of President Bola Tinubu to improve the quality of education in the country through the right policies. The United Nations suggested to the federal government to increase its current budgetary allocation to the education sector from seven to 20 per cent in order

Image
30-July-2023

Court Orders Okowa to Account for N200bn School Fund

By Adedapo Adesanya A Federal High Court sitting in Lagos, in a landmark judgment brought by the Socio-Economic Rights and Accountability Project (SERAP), has ordered the disclosure of the spending details of over N200 billion public funds collected by the government of former Delta State governor, Mr Ifeanyi Okowa, from the Universal Basic Education Commission (UBEC) fund and allocations from the Federation Accounts. The court ordered the current Delta State Governor, Mr  Sheriff Oborevwori, to “disclose details of budgetary allocations and actual spending by his predecessor between 2015 and 2019, including specific projects carried out to improve primary education in

Image
23-August-2023

What are Significant Figures and How Students Can Calculate Them Easily?

The significant figures are used to find the accuracy of numbers in practical estimation. It is essential to round off a long figure so we can understand the number easily. We are using certain rules to round off a number; the same rules are implemented by the significant figures calculator. Sometimes it becomes difficult to decide which number to consider and which number we need to ignore. The significant figures are used precisely to find the result correctly. The significant figures are used when we are dealing with very small and large quantities in Mathematics. There are certain rules to

More Stories
Image
03-February-2022

Stockbroker in Court Over Missing GTCO Shares of Ex-Union Bank Chairman

By Aduragbemi Omiyale Mr Chiedu Ijiomah and his brokerage firm, Adonai Stockbrokers Limited, have been dragged before Justice C.C. Ani of the Enugu State High Court for allegations bordering on fraud. The suspects were specifically arraigned in court on Tuesday, February 1, 2022, by the Economic and Financial Crimes Commission (EFCC) on a three-count charge bordering on stealing, breach of trust and fraudulent diversion of shares to the tune of N1.5 billion. According to the EFCC, the duo allegedly stole and fraudulently converted to personal use the sum of N1.4 billion from account number 45927884/C695275KL, being the property of one

Image
06-December-2019

Lagos Lagoon Too Shallow for Ferry Services—Oyebode

By Adedapo Adesanya A former Executive Secretary of the Lagos State Empowerment Trust Fund (LSETF), Mr Akintunde Oyebode, has disclosed that the Lagos lagoon was too shallow to accommodate the kind of ferry services the state needs for efficient water transportation. Mr Oyebode, who is presently the Special Advisor of the Ekiti State Government on Investment, Trade, and Innovation, made this disclosure in reaction to plans by the Lagos State government to extend its fleet to 20 ferries before the end of 2019. While commenting on the issue via his Twitter page, @AO1379, Mr Oyebode noted that the major issue

Image
06-December-2022

ASI Rises 0.24% on Buying Interest in Guinness Nigeria, Others

By Dipo Olowookere The first trading day in the new week on the floor of the Nigerian Exchange (NGX) Limited ended bullish on Monday with buying interest in brewery, cement and insurance stocks driving the market higher by 0.24 per cent. Business Post reports that the exchange survived the selling pressure from the banking industry, which fell yesterday by 1.29 per cent. It was observed that the industrial goods counter appreciated by 1.66 per cent, the insurance index improved by 1.05 per cent, the consumer goods space grew by 0.63 per cent, and the energy sector rose by 0.59 per

Image
12-May-2017

Lagos Leads States with Highest IGR in Nigeria, Rakes N302b

By Modupe Gbadeyanka Latest data released by the National Bureau of Statistics (NBS) has revealed that Lagos State topped the list of states in Nigeria with the highest Internally Generated Revenue (IGR) in 2016. The document, obtained by Business Post on Friday, May 12, 2017, saw the aquatic state made a total of N302.42 billion in Full Year 2016. It was closely followed by Rivers State, which generated N85.29 billion from IGR, while Ebonyi State generated the lowest the IGR with N2.34 billion. The stats office said a total of N801.95 billion was generated by 35 states that have reported

Image
12-February-2018

UAE Unveils Humanitarian Aid Databank at World Government Summit

By Dipo Olowookere The UAE has launched a humanitarian logistics databank at the World Government Summit (WGS) in Dubai. Announced by HRH Princess Haya bint Al Hussein, Chairperson of the International Humanitarian City, the databank will improve the speed and efficiency of humanitarian aid and emergency response via centralized platform of real-time information on emergencies, supplies and logistics. Expected to enhance collaboration between aid agencies in the region, the databank is designed to best serve those in need. The UAE has been at the forefront of relief efforts for Rohingya refugees and has been lauded by representatives of global agencies,

Image
30-May-2018

N1.6b Fraud: Court Jails Ex-Taraba Governor Jolly Nyame 14 Years

By Dipo Olowookere A former Governor of Taraba State, Mr Jolly Nyame, has been sentenced to 14 years in prison by a Federal Capital Territory High Court sitting in Abuja. The former Governor was convicted on Wednesday by Justice Adebukola Banjoko in connection with N1.6 billion fraud levelled against him by the Economic and Financial Crimes Commission (EFCC). Justice Banjoko said Mr Nyame should spend the next 14 years in prison without an option of fine after he was found guilty of criminally misappropriating state government’s funds while he was Governor of Taraba State from 1999 to 2007. The judge,

Image
06-October-2020

NSE Hosts Webinar on Bond Trading, Pricing Techniques

By Dipo Olowookere In order to deepen the knowledge of participants in the debt market, the Nigerian Stock Exchange (NSE) is organising a two-day online seminar this week. The webinar is slated for Wednesday, October 7 and Thursday, October 8, 2020, and would be used to engage participants on the various products and services in the fixed income market in Nigeria so as to enhance investors’ knowledge and deepen capital market activity even in these challenging times. According to a statement issued by the exchange, Wednesday is for the dealing member firms while Thursday is for the investing public, who

Image
22-May-2018

CBN Keeps Rates at 14% for 9th Consecutive Time

By Dipo Olowookere For the 9th consecutive time, Central Bank of Nigeria (CBN) on Tuesday announced that it was retaining the Monetary Policy Rate (MPR) at 14 percent. The apex bank made this known at the end of its Monetary Policy Committee (MPC) meeting in Abuja. While addressing newsmen after the two-day meeting today, Governor of the CBN, Mr Godwin Emefiele, stated that apart from the MPR at 14 percent, the committee also resolved to hold the CRR at 22.50 percent, Liquidity Ratio at 30 percent, and the Asymmetric Window at +200 basis point and -500 basis points around the

Ad
Ad
Recent Stories
Image
30-September-2023

Mediacraft Associates Employees Get 25% Pay Rise

By Modupe Gbadeyanka The salaries of employees of Mediacraft Associates Limited, a leading Nigerian full-service Public Relations and Integrated Brand Communications Consultancy firm, have been increased by 15 and 25 per cent. This was confirmed by a statement from the organisation as it celebrates its 20th anniversary this year. It was disclosed that the gesture was to reward the efforts of the workers toward the growth of the company and to cushion the current hardships in the country due to the removal of petroleum subsidy. According to the chief executive of Mediacraft Associates, Mr John Ehiguese, the salary increase had

Image
30-September-2023

Are Audio Streaming Platforms in Your Marketing Mix? They Should be

By Mark Redguard Walk down the streets of any major city around the world and take a look at all the people you pass along the way. Chances are you’ll see more people wearing earphones and headphones, in all of their shapes and sizes, than not. Most of those people, whether they’re consuming music or podcasts, will be listening through an audio streaming platform. In fact, Spotify’s 500 million-plus users spent more than 132 billion hours streaming audio on the platform in 2022.  And that’s just Spotify. Factor in other platforms, including the likes of Mdundo and Audiomack, and the

Image
30-September-2023

Unlisted Stock Investors Grow Market to N1.105trn

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.38 per cent on Friday, September 30, with N4.16 billion added to the value of the bourse, closing at N1.105 trillion compared with Thursday’s value of N1.101 trillion. The market witnessed the improvement a day after the shares of VFD Group were yanked off the trading platform, with the NASD Unlisted Securities Index (NSI) closing higher by 3.06 points to settle at 815.65 basis points versus the previous day’s 812.59 basis points. There were three gainers led by FrieslandCampina Wamco Nigeria Plc, which improved by N1.31 to close at

Image
30-September-2023

Naira Appreciates on Dollar Across FX Market Segments

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Investors and Exporters (I&E), the Peer-to-Peer (P2P), and the black market arms of the foreign exchange (forex) market on Friday, September 29, as a turbulent third quarter ended. In the official segment, the local currency improved its value against the greenback by 2.6 per cent or N20.04 to close at N755.27/$1, in contrast to the preceding day’s N775.31/$1 amid a drop in the supply of FX into the system by 11.6 per cent or $16.73 million to $127.82 million from the $144.55 million published on Thursday. In the

Image
30-September-2023

Brent, WTI Shrink on Macroeconomic Worries, Profit Taking

By Adedapo Adesanya The prices of Brent futures and the US West Texas Intermediate (WTI) futures went down by about 1 per cent on Friday, due to macroeconomic concerns and sustained profit-taking. Data showed that Brent fell by 7 cents to $95.31 per barrel and WTI depreciated by 92 cents to $90.97. Prices rose about 30 per cent in the third quarter of the year helped by the production cuts by the Organisation of the Petroleum Exporting Countries and allies (OPEC+). This action squeezed global crude supply. Brent was about 2.2 per cent in the week and 27 per cent

Image
30-September-2023

NGX Sheds N37bn as Investors Sell Stocks in Panic to Buy FX

By Dipo Olowookere Profit-taking persisted on the floor of the Nigerian Exchange (NGX) Limited, as investors refused to tone down their profit-taking activities. It was observed that the market is gradually entering panic mode due to macroeconomic instability in the country, especially with the exchange rate of the Naira to the Dollar going above N1,000 in the parallel market. A stockbroker with one of the leading brokerage firms in the country, who asked not to be named, said the local bourse was witnessing panic selling due to investors liquidating their shares for Dollars. “This trend will continue for a while

Image
29-September-2023

FG, States, Local Councils Get N1.1tn As September Allocation

By Adedapo Adesanya The Federation Account Allocation Committee (FAAC) has shared a total of N1.1 trillion from the revenue generated by the nation in August 2023 for September to enable the three tiers of government; the federal government, states, and local government councils, to have funds to pay salaries and others. The allocation of the funds was confirmed by the Office of the Accountant General of the Federation on Friday following FAAC’s September 2023 meeting. According to a statement by the OAGF’s Director of Press and Public Relations, Mr Bawa Mokwa, there was “N1100.101 billion (N1.1 trillion) total distributable revenue.”

Image
29-September-2023

Erisco Product Reviewer Fights Back, Threatens 500m Suit

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

Image
29-September-2023

Scoring Success: How Data Analytics Revolutionizes Football Predictions Strategies

Data analytics is transforming football predictions as tools and techniques are consistently being designed to enhance accuracy and precision in football betting. In this article, we uncover the huge impact of data analytics in football betting. The Power of Data in Football Predictions In football betting, data analytics is used to collect, analyse, and interpret data to make informed predictions. This includes several metrics, such as player stats, team performance, head-to-head results, and external factors like injuries, fatigue, and weather conditions. Data analytics in football predictions is useful in the following ways:  Transforming Raw Data to Useful Piece of Information

Image
29-September-2023

Alleged Assault: Manchester United Recall Anthony to Squad

By Dipo Olowookere Brazilian winger, Anthony, is now eligible to make the Manchester United squad again, a statement from the football club has disclosed. A few weeks ago, the footballer was suspended by the English sports outfit over allegations of assault in his home country. His former girlfriend, Rosilene Silva, accused the footballer of assaulting her, prompting the police in Brazil to launch an investigation into the claims. The police in the United Kingdom also took an interest in the matter, forcing the Old Trafford team to ask Anthony to stay away from the team. In an update on Friday,