₦airaland Forum

FG BEGINS COMPUTATION TO FAST-TRACK RETIREES’ PENSION PAYMENT
The Federal Government has ordered the computation of accrued pension of serving federal civil servants.
A memo by the Office of the Head of Civil Service of the Federation, which was obtained by our correspondent on Tuesday in Abuja, said the move was in collaboration with the Ministry of Finance and will focus on employees who were employed on or before June 30, 2024.
The memo said the move would enable the government to plan ahead of time towards the early release of the entitlement of the workers.
The memo read: “It has been observed that one of the reasons for the delay in the payment of pension of retired officers is the late release of their accrued rights under the old Defined Benefit Scheme. “To enable the government plan towards early release of the accrued rights, there is a need to harvest the data of the officers who are entitled to the rights. “Consequently, the Office of the Head of the Civil Service of the Federation, in collaboration with the Federal Ministry of Finance and other stakeholders, is compiling data of the affected officers who were employed on or before 30th June 2004. “All concerned officers are to note that filling the form is mandatory to enable the payment of their accrued pension rights under the old Defined Benefit Pension Scheme, when they retire.
The Federal Government has failed to release funds for payment of accrued pension rights in the first half of 2024.
The FG had reneged for the full year 2023, as no funds were released despite budgetary provisions.
The release made in the first quarter of 2023 was for outstanding payments in 2022.
This comes against the backdrop of FG’s failure to implement its policy on the upward review of pension amounts under the Contributory Pension Scheme for 15 years, against policy prescriptions of upward review every five years as stipulated by law.
While the law stipulates that pension shall be reviewed every five years or together with any federal civil service salary reviews, whichever is earlier, the FG has failed to implement pension adjustments under the Contributory Pension Scheme, CPS, since the scheme’s inception in 2004.
The FG’s indebtedness to retirees on accrued pension rights in the last 16 months is estimated at N230bn.
Some pensioner groups have called for a boycott of investing pension assets in FG securities since the government borrowing comes mainly from pension assets.
At the same time, the FG had always been found wanting in complying with the extant pension scheme.
According to a report by the National Pension Commission, in 2021, the FG released a total of N100.2bn for payment of accrued rights which brought the total amount released by the FG from inception to N980.18bnn.
In March 2022, the FG released N14.92bn for payment of accrued rights.
However, according to the Pension Fund Operators Association of Nigeria, the FG has released funds up till February 2023, with no payment made after then.

https://punchng.com/fg-begins-computation-to-fast-track-retirees-pension-payment/

FG CLEARS 1,330 NIS RETIREES 17-YEAR SEVERANCE ALLOWANCE
The Federal Government has cleared the 17-year outstanding severance allowances of 1,330 officers of the Nigerian Immigration Service who retired between 2006 and 2007.
At a press briefing in Abuja on Friday, the Director-General, Bureau of Public Service Reforms, Mr. Dasuki Arabi announced that 885 officers had been verified and paid their outstanding benefits after a verification exercise was conducted across the six geopolitical zones across the country.
The DG noted that the exercise, which began on November 27, 2023, and ended on January 20, 2024, was a culmination of efforts by the BPSR, Office of the Accountant-General of the Federation, Federal Civil Service Commission, and Office of the Auditor-General of the Federation. “We have finally resolved the outstanding severance benefits of 1,330 disengaged officers from the 2006/2007 reform programme. This achievement serves as a beacon of hope for other parastatals and MDAs facing similar challenges,” Arabi added.
Arabi equally thanked the FG for its “unwavering commitment to addressing this long-standing issue, in line with the Renewed Hope Agenda.” He noted that 17 verified officers could not be paid due to some inconsistencies in their account details, but are being addressed by the stakeholders’ committee.
Ten months after their recruitment, NIS officers were yet to receive their salary arrears despite being captured on the Integrated Payroll and Personnel Information System.
The personnel, whose appointment letters date back to August 15, 2023, claimed they had not been paid between September 2023 and February 2024.
The National Chairman and Coordinator, National Association of Retired Immigration Officers, Mr. Ola Gbadamosi acknowledged the payment to the association’s members but noted that some beneficiaries could not be traced due to mix-ups in the biodata of the next of kin for the late officers. “I want to thank the DG, BPSR and the office of the Accountant-General and Auditor-General of the Federation for their intervention in making the payment a success. It has been 17 years of struggle but it’s a reality today. “Although we have not been able to fully verify some of our members, about 400 of them. We are working to ensure that everyone is fully captured,” Gbadamosi said. He also appealed to the government to settle the disparities in the 17-year salary arrears owed to the retirees.

https://punchng.com/fg-clears-1330-nis-retirees-17-year-severance-allowance/

Sorry about everything. Hope it gets resolved. Do attach some pictures to the post.

Also, Nlfpmod, please, attend to this.

Exceed15:
If the guy breaks up the relationship, let go . But if the lady breaks it.. collect d ones that cost you fortune

I see the point you are trying to make. That it depends on who initiated or caused the Breakup?

GeeKudi:
Ikeja Hotel and Cornerstone both feature on my watchlist as well. Ikeja is really undervalued. The only downside to the stock is the low dividend performance for long termers who may be fixated on dividend, but may be a good stock for capital appreciation.

It may rally up soon. Seems presently to be at a Resistant Point.

megawealth01:
You won't retire. Money is like numbers it never satisfies

Just mention the name of Warren Buffet.

Samantha125:
If there was a signed agreement from his lawyers stating that he should take everything he bought for the lady upon a breakup, then yes, he can take back everything.

Do guys write such agreements with their ladies?

marlow1962:
Not, it shows the guy is a punk.
But at same time, it's very important as a guy, when buying property for a girl, but it with you name just in case of stupid break up stuffs like this happens.

Buy it with your name? how does that even work for guys? Is there no law on stuffs like these?

KarlTom:
Movement in HONyFLOUR ...

HonyFlour up now to N4.80

Anything cooking in their kitchen?

Yes and No.

Those on Nairaland are neither ghosts nor animals. They are humans. So good or bad exists in all humans, including those on Nairaland.

However it is an anonymous platform, where you primarily do not even know if the person is truly a Male or a Female.

But that apart, I am sure that there are a lot of good people on Nairaland also.

For example, Pretydiva is such a very beautiful and sweet soul. I lack words to explain better. Cheers to you Diva.

Balablue64:
Poverty

That is a wrong and insensitive thing to say.

megawealth01:
Nobi all breweries I get

Ok. I thought you also drink all types of Alhohol

pretydiva:
I never see wey tin go make me chow this thing

Really?

Not much in it anyway.

megawealth01:

Is Golden Guinea Breweries set to jump?

Sunu still heading to Full Bid at 4.67

yMcy56:
Lol. That was 2020
So you waited for 4yrs inside SUNU!
You be odogwu be that.....😊

The post took me back to the page and the next one...
I come see how Arduino run me street for here...chai!!
He would have reaped a lot from DANGCEM if he had been patient....
Maybe he actually waited it out but just refuse to give me the promised hamper, who knows.......people dey here.....😁
Me self don old for this forum o. 😁

And then Sunu was at 20 kobo in October 2020. Today closed at N4.25

dealbest:
Ever heard the word you can always take a man out out of the ghetto, but you can never take the ghetto out of the man

I have heard it.

Odion Ighalo grew up in Ajegunle. Is he today still living like a Ghetto man?

I know where he plays balls those days in AJ City.

Ochacho: Are you aware that he is so rich, that even 5 years ago, Patoranking sang about him in "Celebrate Me"?

Ochacho: Are you aware that he is so rich, that even 5 years ago, Patoranking sang about him in "Celebrate Me"?

Ochacho: Are you aware that he is so rich, that even 5 years ago, Patoranking sang about him in "Celebrate Me"?

Gadafii:
200k for earbuds

Abi you get ear problems wey the earbud go help you correct?

Same question I wanted to ask.

Not like 200k is that much of a money shaa. But spending It on just earbuds?

All Aboki with his own kettle shaa.

That amount can buy full or half plots of land in some locations shaa.

Your Friends who are always online, but rarely chat you, do not really like you..

Locotrader:
Our insurance stocks are doing well now.

Guinea......Prestige.......Mansard

Trio are for 100% and more.Market has even approved them for a new high before the year end.

Sit tight and enjoy them

In a one to 3 months frame, Guinea Insurance may hit N1.00

But wait, is it not owned by the same Emeka Offor who owned Niger Insurance and watched it as it went bankrupt and was delisted ?

Shalom428:
A lot of stocks have doubled their prices, some triple, infact some X10 since the new administration.

A lot have already repriced , even the seemingly battered DS is like X3 . I loaded UBA at 6Naira and loaded more at 13 Naira

Fidelity, Total energies, Flourmill , Wapco , to mention a few. I think a lot of stocks have already repriced and patient investor are already in the money.

Some got GTCO at 18 , others at 26

If things goes well, Fidson is a very good one to lock in at this point. I quite agree with you on that one

Fidson is one of the worst performing stocks of 2024.

It is stagnant.

Payunsin:
You really don't understand Kobo, Kobo stocks
A lot of traders accumulated it at ₦2.30 the lowest price of the day. Those that are ok with the price readily sold.
Same with etranzact you won't see any buyer on queue but you can still get to sell it

Etranzact has remained on Full Offer for very long yet did not change price.

Locotrader:
Just keep watching him.I will prefer to buy the remaining 50% at below #2.
And I will be happy to buy above #2.10 immediately I see the vendor is exhausted.

Don't be in a rush to buy chams at #2 and above now unless you will monitor the vendor all day as we have keep our mirror for him.

What is the Target Price of Chams Plc?