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Pencom Begins Payment of 2.5% Differential to Retirees

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PenCom

By Adedapo Adesanya

The National Pension Commission (PenCom) has disclosed that it has commenced the payment of the 2.5 per cent differentials of 2004 and 2014 specified by the Pension Reform Act (PRA) to retirees.

This was disclosed by Mr Saleem Abdulrahman, Head, Contribution and Bond Redemption Department, at the 2021 Journalist Workshop organised by the commission in Lagos with the theme Positioning the Pension Industry in the Post COVID Era on Monday, July 26.

He said the beneficiaries were retirees between 2019 and 2020 of the Federal Government Treasury Funded Ministries, Departments and Agencies (MDA’s).

The 2014 PRA as amended established a Contributory Pension Scheme (CPS) whereby the employers were required to contribute 10 per cent of the employees’ salary to the scheme monthly.

The 10 per cent minimum contribution by employers is an increase of 2.5 per cent over the 7.5 per cent contribution stipulated by the repealed 2004 PRA.

The Act also mandated employees to contribute a minimum of 8 per cent to the scheme monthly.

Mr Abdulrahman explained that the agency had also begun computing the details of retirees between July 1, 2014, to December 2018 and would pay them soon.

“Some of the retirees may likely get additional lumpsum or enhanced annuity or programmed withdrawal.

“We have also begun the computation of the active employees to enable payment,” he said.

Business Post understands that in 2014, which was 10 years after the implementation of the Contributory Pension Scheme (CPS) in Nigeria, the National Assembly repealed the Pension Reform Act of 2004 and enacted the Pension Reform Act (PRA 2014) in order to address implementation challenges and introduce improvements to the Contributory Pension Scheme.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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US Strikes Terrorists in Sokoto on Trump’s Directive (VIDEO)

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donald trump 47th US President

By Aduragbemi Omiyale

The United States government gave some terrorists in Nigeria a Christmas gift that sent many of them to the great beyond.

On Thursday, December 25, 2025, the United States President, Mr Donald Trump, directed his country’s military to launch air strikes on camps of members of the dreaded Islamic State in Iraq and Syria (ISIS) in Sokoto State.

According to Mr Trump, the military action, which he threatened to carry out a few weeks ago if the Nigerian government does not stop the killing of Christians in the country, occurred on Thursday night.

“Tonight, at my direction as Commander in Chief, the United States launched a powerful and deadly strike against ISIS Terrorist Scum in Northwest Nigeria, who​ have been targeting and viciously killing, primarily, innocent Christians, at levels not seen for many years, and even Centuries!

“I have previously warned these Terrorists that if they did not stop the slaughtering of Christians, there would be hell to pay, and tonight, there was.

“The Department of War executed numerous perfect strikes, as only the United States is capable of doing.

“Under my leadership, our country will not allow radical islamic terrorism to prosper. May God bless our military, and Merry Christmas to all, including the dead terrorists, of which there will be many more if their slaughter of Christians continues,” Mr Trump wrote on his Truth Social platform.

In a video on X, formerly known as Twitter, the Department of War of the United States posted the below video of the air strikes;

https://twitter.com/DeptofWar/status/2004351717131903272

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Gbajabiamila Remains President Tinubu’s Chief of Staff—Presidency

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femi gbajabiamila Hakeem Muri-Okunola

By Modupe Gbadeyanka

The presidency has reacted to speculations that Mr Femi Gbajabiamila has been removed as the Chief of Staff to President Bola Tinubu.

It was alleged that Mr Gbajabiamila has been replaced with the President’s Principal Private Secretary, Mr Hakeem Muri-Okunola.

Mr Muri-Okunola went to Abuja to take up this role after leaving as the Head of Service of the Lagos State Civil Service.

Reacting to the reports on social media on the purported removal of Mr Gbajabiamila, a former Speaker of the House of Representatives, the presidency said no such change has been made.

In a statement signed on Thursday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, members of the public were advised to disregard the report as “there is absolutely no truth to this story.”

“The Chief of Staff remains in his position. The Principal Private Secretary likewise remains in his role. Hakeem Muri-Okunola has not replaced Femi Gbajabiamila as Chief of Staff.

“The viral claim is a fabrication by mischievous purveyors of fake news whose sole aim is to create disharmony within the government.

“We reiterate that news media should always verify their information before publishing or sharing on social media,” the statement said.

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Eyesan Promises Bold Reset in Nigeria’s Upstream Sector as New NUPRC Head

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oritsemeyiwa Eyesan

By Adedapo Adesanya

The new chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, has assumed office with a clear message to advance the country’s upstream oil and gas sector in line with the mandate of the commission as enshrined in the Petroleum Industry Act (PIA) 2021.

According to a statement signed by Mr Eniola Akinkuotu, the Head of Media & Strategic Communications at the upstream regulator, the NUPRC boss made this assertation during her first town hall meeting with management and staff on Tuesday December 23, 2025.

She further disclosed plans to make the commission a business enabler and re-ignite investments in the upstream sector.

Recall that President Tinubu nominated Mrs Eyesan to take over the NUPRC after the abrupt resignation of her predecessor, Mr Gbenga Komolafe as well as his counterpart in the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed.

In her new capacity, Mrs Eyesan also set a firm production ambition of growing Nigeria’s output and increasing gas production.

“The goal is that we must enable the industry, we are regulators. We must enable the industry from our interactions with the stakeholders, from our interactions with everybody.

“My main objective is to ensure that we make a difference. I believe the NUPRC is at the Center of the industry,” she said.

The commission boss who has served for over three decades in the oil and gas sector, promised to entrench digitisation, transparency and efficiency in operations.

The NUPRC head said with the support of staff and management, the NUPRC will become the gold-standard regulator in Africa. She also promised capacity development, stronger technical depth and sustained engagement with stakeholders, unions and professional teams.

On leadership style, Mrs Eyesan promised an open-door policy and frequent staff engagement, while also soliciting for support and cooperation as the industry embarks on the next phase of transformation.

“If we work together we can unleash opportunities, I don’t see impediments only opportunities,” she added.

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