General
PenCom Launches Initiative to Boost Monthly Payment to N12bn
By Adedapo Adesanya
The National Pension Commission (PenCom) has launched a new initiative, Pension Boost 1.0, under the Contributory Pension Scheme (CPS), aimed at increasing monthly pension payments to retirees to N12 billion.
According to the pension industry regulator, the initiative, which became effective in June, will see total monthly pension payouts increase from N8.3 billion to N11.9 billion.
The Director-General of PenCom, Ms Omolola Oloworaran, disclosed this during the commission’s second-quarter media briefing in Lagos on Thursday that the increase would directly benefit over 233,000 retirees, depending on their Retirement Savings Account (RSA) balances.
“We are introducing Pension Boost 1.0. This is the news every retiree has been waiting for.
“Effective this month, total monthly pension payments under the CPS will rise from N8.3 billion to N11.9 billion. This will directly benefit over 233,000 retirees, depending on their pension account balances,” she said.
The DG described the initiative as a strategic leap made possible by strong RSA investments and bold economic reforms under the administration of President Bola Tinubu.
“This is not a token gesture. It’s a result of sound investment returns and a visionary framework for pension enhancement.
“It is driven by our newly modified standard pension enhancement template, a transparent structure that allows upward pension adjustments as investment returns increase. This is just the beginning,” she stated.
The PenCom boss also revealed that the backlog of pension arrears had been nearly cleared, with all retirees up to March 2025 now having received their accrued pension rights and monthly entitlements.
She commended President Bola Tinubu for approving a N758 billion bond to settle outstanding pension liabilities, describing it as a landmark move demonstrating the government’s dedication to the welfare of Nigerian retirees.
“Thanks to the decisive leadership of President Tinubu, we’ve seen stable and consistent releases of funds for accrued rights since November last year. The end of pension arrears is very, very near.
“President Tinubu’s approval of the N758 billion bond to clear pension liabilities is further proof that this administration is rewriting the retirement narrative in Nigeria,” she stressed.
Ms Oloworaran said the agency was focused on building a transparent, inclusive, and resilient pension system.
“We are restoring faith in retirement. We are rewarding work with dignity,” the DG added.
She also issued a warning to defaulting employers and complacent pension operators.
“To employers with late pension remittances, your grace period is over. To operators who remain complacent, there will be consequences. And to every Nigerian worker, we see you, we hear you, and we will protect your future.
“Let the pension industry take note: this is a new era, and we are not going to turn back. We will continue to move forward,” Ms Oloworaran said.
General
Ogun NSCDC Arrests 210 Suspects for Vandalism, Illegal Mining
By Adedapo Adesanya
The Ogun State Command of the Nigeria Security and Civil Defence Corps (NSCDC) says it arrested 210 suspects for vandalism, fraud, and illegal mining in the last 18 months as part of its anti-vandalism drive.
The Ogun State Commandant, Mrs Remilekun Ekundayo, disclosed this during a courtesy visit to the Nigeria Union of Journalists, NUJ, council in Abeokuta, the state capital.
Mrs Ekundayo said the command had also recovered over N23 million in fraud-related cases for victims and resolved more than 1,700 disputes through alternative dispute resolution mechanisms within the same period.
She added that the command has sustained intelligence-driven operations that have prevented several criminal activities and ensured the protection of pipelines, railway corridors, and power installations across the state.
While stressing that security remains a shared responsibility, Mrs Ekundayo called for stronger collaboration with the media to enhance public awareness and safety in the state.
According to her, the visit was aimed at strengthening cooperation between the corps and the media, describing journalists as critical partners in the state’s security architecture.
“In matters of security, your role becomes even more strategic and impactful,” she said.
“The NSCDC is statutorily empowered to protect critical national assets and infrastructure, prevent vandalism and economic sabotage, and support disaster management and emergency response,” she said.
In his remarks, the Ogun State Chairman of the NUJ, Mr Wale Olanrewaju, assured the commandant of the council’s support and continued partnership through accurate and prompt reporting of security issues.
General
Defence Minister Musa Warns Mali Conflict May Destabilise West Africa
By Adedapo Adesanya
Nigeria’s Minister of Defence, Mr Christopher Musa, says the capture of a key Malian town by rebels poses a threat to West Africa that requires foreign intervention to prevent the insurgency from spreading.
A series of coordinated attacks by militants in late April left Mali’s Defence Minister dead and forced Malian and Russian mercenary forces to withdraw from the northeastern stronghold of Kidal.
Mr Musa, a retired army general, said in an interview with Bloomberg that the international community must come together to deal with the insurgents before they wreak havoc on the region.
The deteriorating situation in Mali may trigger a wider regional crisis, the defence minister said.
His admittance comes as the border region of Nigeria, Benin and Niger on the southern edge of the Sahel region is becoming a new stronghold for jihadists, as militants turn forests and pastoral networks in West Africa into bases for recruitment and international attacks.
“If they allow them to get any foothold in Mali, completely, they are not stopping there,” he warned.
He called for a joint campaign style like that of the United States against the Islamic State in Syria as a way to root out terrorists in West Africa.
General Musa noted that the collapse of states across the region has been the main driver of arms proliferation, with coastal West African states, including Ghana and Togo, becoming increasingly vulnerable.
He cited the fall of former Libyan dictator Muammar Gaddafi in 2011 as a turning point that released vast stockpiles of weapons into circulation, a problem compounded by ongoing instability in Sudan.
The combined crises have created an open corridor across the Sahel, allowing small arms, light weapons and ammunition to flow largely unchecked.
He added that this has worsened due to weak border controls and the ease of movement across the region.
Attacks in Nigeria have also risen, with data from the website of the Armed Conflict Location & Event Data (ACLED), a conflict-monitoring group, affirming that the number of suicide bombings in Nigeria by March already matched the annual average over the past six years.
The Nigerian military has also been dealt a blow to its military bases and senior figures targeted. In April, Brigadier-General Oseni Omoh Braimah was killed when Islamist fighters attacked a base in Borno State.
The minister said disruptions linked to global conflicts, including the war in Ukraine, as well as the ongoing war in Iran, have made it harder to source weapons even when funding is available. To meet its defence goals, Nigeria is stepping up efforts to build domestic arms-manufacturing capacity.
General
N33.8bn Fraud: Court Convicts ex-Power Minister Saleh Mamman
By Modupe Gbadeyanka
A former Minister of Power in Nigeria, Mr Saleh Mamman, has been convicted by a Federal High Court in Abuja over his connection with a N33.8 billion fraud.
He was found guilty of a 12-count charge brought against him by the Economic and Financial Crimes Commission (EFCC).
While delivering his judgment on Thursday, Justice James Omotosho declared that the former government official is guilty of all the charges levied against him by the agency.
In the suit marked FHC/ABJ/CR/273/2024, the EFCC informed the court that the convict, who served under the administration of late President Muhammadu Buhari, conspired with ministry staff to divert about N22 billion meant for the Zungeru and Mambilla Hydro Electric Power projects.
He was removed from office by the late president in 2021 and arrested by the anti-money laundering organisation four months after. He was said to have used embezzled funds of up to N33.8 billion to acquire properties.
At the court today, the judge confirmed that Mr Mamman made a cash payment of $655,700 (equivalent to N200 million) for landed property in Abuja, without recourse to a financial institution.
He was also found guilty of criminal breach of trust in relation to funds released by the federal government for the Mambilla and Zungeru Hydroelectric Power Plant projects.
“The evidence of the prosecution is overwhelming against the scanty and almost absent defence of the defendant.
“The defendant did not offer any credible evidence to rebut the prosecution’s case,” Justice Omotosho held.
“Rather than creating a legacy to tackle the epileptic power supply in the country, the defendant was living large at the expense of ordinary citizens.
“Little wonder that Nigerians have remained in darkness till today,” the judge added.
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