₦airaland Forum

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You see? Traders without conscience ae being exposed. Thanks bros for the info.

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Part the sea!

Kiss

Infact, this is the best news I've heard all day.

How can a woman so ugly be so devious? Atleast have some good quality to cover up those ugliness.
And may God continue to lead Ekiti state in the right path, we want development and we SHALL get development. It starts my riding Ekiti state of ppl like Adebayo.

Which judiciary? You mean Naija judiciary? Let me laugh in contempt of this Naija judiciary    .

Naija judiciary is the protector of the  corrupt rich and wealthy in Naija. Check punishments awarded to criminals so far. Big thieves get smaller jail term while petty criminals get almighty jail terms. Our judiciary is for the highest bidder.

If you want to know why EFCC is toothless,  ask our judiciary.   

In fact, our democracy is fattening the bank accounts of our lawyers and judges more than any other group in Naija.

Lawyers and judges are enjoying this demo[b]crazy[/b].  

[s]I hope they will not place an interlocutory injunction on this response [/s]

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Stop crying, dear .

Keep on trying. Ensure you follow my hints below:

For you to score high points, you must eat the ghosts too, that is, when you eat any of the 4 big balls, the ghosts turn blue and starts running away. You chase and eat them. But once they are changing to enemy, you run away.

Also, try and eat the fruits that appear near the ghost prison cell at the center.

Another trick is to move closer to any of the 4 big balls and wait. As soon as the ghost is about eating you, you eat the big ball and the ghosts turns blue, you now chase and eat as many blue ghosts as you can.

Note: If you concentrate on eating dots only, you will not score high points. Each blue ghost eaten gives higher scores.

I am a witness to that fact

You are right. You've been scarce these days. Whatz up?

"We all live with the objective of being happy; our lives are all different and yet the same."

Anne Frank

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Those who collected kickback to ensure escape will definately do thanksgiving to God this week for prospering them.

Naija na wa .

Good clarification there by General Kwaji.

However, there seem to be another set of ex-soldiers suffering under the new pension scheme by PENCOM. They have been making a case to join their old colleagues. The general seems to be silent about them.

Clarifications like this is a sign of accountability by the military pensions board.

Pension: We got N17.1b not N70b – Ex-soldiers
Features Oct 20, 2010 By Kingsley Omonobi, Abuja
When the arrears of military pensioners, talking about the 12.5% and the 15% increment in salaries of public servants were secured for ex-soldiers and officers by the Directorate of Military Pensions, it was thought that the hue and cry by military personnel who had clamoured for justice in this regard would be happy and give kudos not only to the government of President Goodluck Jonathan, but also to Brig Gen. Kwaji, the officer who mid-wifed release of the arrears.

Rather, what the ex-soldiers did was to threaten a protest action by way of wanting to boycott the 50th Independence anniversary celebrations of Nigeria at both the Federal Capital Territory, Abuja and the state capitals across the country.

Their grouse was that the Military Pensions Board allegedly shortchanged them by paying them less of what they expected from government regarding the arrears of salary increase, which is supposed to reflect in pensioners’ take-home nationwide.

Following the allegations, Vanguard carried out an investigation to ascertain what was released by the Federal Government for the military pensioners as arrears, what each officer or soldier was to get, those that were entitled to collect the arrears and if there was fact in the allegations that ex-soldiers were being shortchanged.


Brig. Gen. Kwaji
Firstly, Vanguard learnt from the National Wages and Salaries Commission via a memo with reference number SWC/S/04/S.164/T/234 dated 30th March 2009, that what the Federal Government approved for the payment of arrears to the ex-soldiers and officers was not 12. 5% or 15% as expected by the military pensioners.

The government approved between 4% to 12. 5% salary increase on a sliding scale in the public service salary structure of 2003 and 15% increase of consolidated emoluments of January 2007. Consequently, a corresponding increase of 6% on pension rates was proposed by the wages commission.

This meant that rather than 12. 5%, what government approved for military pensioners entitled to the arrears was 4% with effect from 1st October 2003 while for those entitled to 15% arrears, 6% was approved with effect from 1st January 2007.

It was also gathered that before the arrears were paid, there had been an increment in the take – home pay of military pensioners by the Gen. Kwaji-led Military Pensions Board, MPB, which had been running.

In chat with Vanguard, Kwaji clarified the issues. The interview ran thus:

What is the true situation of arrears of military pensioners as of today?

The arrears of military pensioners for 6% of 2003, 15% of 2007 and 23% of 2008 was paid on the 22nd of June this year. To show transparency in the computation of the arrears, we published the details in three national newspapers on 24th, 25th and 26th of June, just to educate our retirees on how the computation was done. What is actually confusing the retirees is the issue of 12. 5% salary increase of 2003. The 12. 5% was on a sliding scale for civil servants.

Sliding scale of 4% to 12. 5%. What that means is that the least Private soldier got salary arrears increase of 12. 5% while the Generals got only 4%. For the pensioners nationwide, what the Federal Government approved for them was 6% across board.

So while the retirees were expecting 12. 5%, we went out to educate them that even those serving as at then, it was only the Private soldiers, for instance for the members of the armed forces, that got 12. 5%. The increment was on a sliding scale of 4% to 12. 5%. What government approved for pensioners was 6% across board and that was what was used in computing the pension arrears. That was what was used in requesting for fund from the Federal Government.

How much exactly was released to the MPB for this exercise?

The issue of release of funds for the retirees is very clear. It is there in the 2010 budget. For the seven pensions department across the country, what was appropriated was N69billion. The Police pension’s office got the highest of N24billion. The military pension’s board got N17billion. So for the purpose of clarity, the military pension’s board got N17. 1billion.

Can you give a break down of what each officer or soldier is supposed to get going by the percentage each person gets as arrears?

What a soldier or an officer gets as arrears depends on when he was taken into the pay roll at Military Pension’s Board. Let us use the arrears of Lt. Col. Omo Fineboy as a representation of all pensioners, just for illustration. Lt. Col. Fineboy was commissioned into the Nigeria Army on January 1, 1960 and retired on Jan. 1996. He was pay rolled at the MPB on 18 July 1996. His pension then was N98, 274. 88. He is qualified for the three arrears of pension.

The calculation goes thus: For 2003 arrears, it means his increment is N98, 247, 88 x 6% which gives you N5, 896.50. If you add up, his new pension as at December is N104, 171, 48. So his arrears for the period October 2003 to December 2006 will be N5, 896, 50 x 39 months which amounts to N229, 963, 45.

For the 2007 arrears, Lt. Col. Fineboy as at December 2006 was receiving N104, 172, 48. His increment based on 15% is N104. 48 x 15% which gives us N15, 625, 72. His new pensions’ as at December is N119, 797, 20. His arrears will be N15, 625, 72 x 12 months netting him arrears of N187, 508, 84.

For the 2008 arrears, the pension of Lt. Col. Fineboy as at December 2007 is N119, 797, 20. The pension increment of Lt. Col. Fineboy is N119, 797, 20 x 23% which gives us N27, 553, 36 effective January 2008. His arrears for the period up to October 2009 is N27, 553, 36 x 12months which amounts to N606, 173, 84. His new pensions’ effective January 2008 to date is N147, 350, 56. Therefore, the total arrears accruing to Lt. Col. Omo Fineboy is N1, 023, 645, 93.

Even though the pensioners were not aware of this 23%, the military pensions’ board was able to secure this release for them and we got the funds to pay those arrears. So the issue of how much a pensioner gets depends on when he or she was pay rolled into the board.

What are the benefits of the Medically-Boarded ex-soldiers in this package?

It is not every pensioner that got the arrears of 12 5% and 15% paid to them or that is entitled to it. Those that are entitled to these arrears are those on the pay roll by 1st October 2003. The medically board soldiers who were pay rolled on humanitarian grounds by the Federal Government, only got into our books effective January 2008. So they are only entitled to the 23% of 2008.

Have you made efforts to check some of the banks that transmit these monies to the beneficiaries and confirm they are paying exactly what is due to the ex military officers?

Yes, we have done that. The confusion is just this issue of 12. 5%. While the pensioners were expecting 12. 5%, what government approved and released funds for was only 6% and that 6% took the bulk of the arrears because it covered October 2003 to December 2006.

You find out that the 23% we got for them later was where they got the lump sum that meant something to them. Because while they were expecting that they were not aware that we were able to secure a 23% increase for them and that one enhanced their take home pay. And we have always said that if pensioners have problems of collecting their money or they are at a loss on any issue concerning their benefits, they should come and we will sort out the problem.

After the payment of these arrears, what now happens to the monthly collection of the ex-soldiers?

Even before the payment of the arrears, we had earlier reviewed their pay in November 2009. We reviewed the payment of their pensions upward in November 2009 when we secured approval from government pending the release of the money for the payment of the 12. 5% and 15% arrears. Maybe that is why some of them are saying they are still collecting the old rates.

Pension: We got N17.1b not N70b – Ex-soldiers
Features Oct 20, 2010 By Kingsley Omonobi, Abuja
When the arrears of military pensioners, talking about the 12.5% and the 15% increment in salaries of public servants were secured for ex-soldiers and officers by the Directorate of Military Pensions, it was thought that the hue and cry by military personnel who had clamoured for justice in this regard would be happy and give kudos not only to the government of President Goodluck Jonathan, but also to Brig Gen. Kwaji, the officer who mid-wifed release of the arrears.

Rather, what the ex-soldiers did was to threaten a protest action by way of wanting to boycott the 50th Independence anniversary celebrations of Nigeria at both the Federal Capital Territory, Abuja and the state capitals across the country.

Their grouse was that the Military Pensions Board allegedly shortchanged them by paying them less of what they expected from government regarding the arrears of salary increase, which is supposed to reflect in pensioners’ take-home nationwide.

Following the allegations, Vanguard carried out an investigation to ascertain what was released by the Federal Government for the military pensioners as arrears, what each officer or soldier was to get, those that were entitled to collect the arrears and if there was fact in the allegations that ex-soldiers were being shortchanged.


Brig. Gen. Kwaji
Firstly, Vanguard learnt from the National Wages and Salaries Commission via a memo with reference number SWC/S/04/S.164/T/234 dated 30th March 2009, that what the Federal Government approved for the payment of arrears to the ex-soldiers and officers was not 12. 5% or 15% as expected by the military pensioners.

The government approved between 4% to 12. 5% salary increase on a sliding scale in the public service salary structure of 2003 and 15% increase of consolidated emoluments of January 2007. Consequently, a corresponding increase of 6% on pension rates was proposed by the wages commission.

This meant that rather than 12. 5%, what government approved for military pensioners entitled to the arrears was 4% with effect from 1st October 2003 while for those entitled to 15% arrears, 6% was approved with effect from 1st January 2007.

It was also gathered that before the arrears were paid, there had been an increment in the take – home pay of military pensioners by the Gen. Kwaji-led Military Pensions Board, MPB, which had been running.

In chat with Vanguard, Kwaji clarified the issues. The interview ran thus:

What is the true situation of arrears of military pensioners as of today?

The arrears of military pensioners for 6% of 2003, 15% of 2007 and 23% of 2008 was paid on the 22nd of June this year. To show transparency in the computation of the arrears, we published the details in three national newspapers on 24th, 25th and 26th of June, just to educate our retirees on how the computation was done. What is actually confusing the retirees is the issue of 12. 5% salary increase of 2003. The 12. 5% was on a sliding scale for civil servants.

Sliding scale of 4% to 12. 5%. What that means is that the least Private soldier got salary arrears increase of 12. 5% while the Generals got only 4%. For the pensioners nationwide, what the Federal Government approved for them was 6% across board.

So while the retirees were expecting 12. 5%, we went out to educate them that even those serving as at then, it was only the Private soldiers, for instance for the members of the armed forces, that got 12. 5%. The increment was on a sliding scale of 4% to 12. 5%. What government approved for pensioners was 6% across board and that was what was used in computing the pension arrears. That was what was used in requesting for fund from the Federal Government.

How much exactly was released to the MPB for this exercise?

The issue of release of funds for the retirees is very clear. It is there in the 2010 budget. For the seven pensions department across the country, what was appropriated was N69billion. The Police pension’s office got the highest of N24billion. The military pension’s board got N17billion. So for the purpose of clarity, the military pension’s board got N17. 1billion.

Can you give a break down of what each officer or soldier is supposed to get going by the percentage each person gets as arrears?

What a soldier or an officer gets as arrears depends on when he was taken into the pay roll at Military Pension’s Board. Let us use the arrears of Lt. Col. Omo Fineboy as a representation of all pensioners, just for illustration. Lt. Col. Fineboy was commissioned into the Nigeria Army on January 1, 1960 and retired on Jan. 1996. He was pay rolled at the MPB on 18 July 1996. His pension then was N98, 274. 88. He is qualified for the three arrears of pension.

The calculation goes thus: For 2003 arrears, it means his increment is N98, 247, 88 x 6% which gives you N5, 896.50. If you add up, his new pension as at December is N104, 171, 48. So his arrears for the period October 2003 to December 2006 will be N5, 896, 50 x 39 months which amounts to N229, 963, 45.

For the 2007 arrears, Lt. Col. Fineboy as at December 2006 was receiving N104, 172, 48. His increment based on 15% is N104. 48 x 15% which gives us N15, 625, 72. His new pensions’ as at December is N119, 797, 20. His arrears will be N15, 625, 72 x 12 months netting him arrears of N187, 508, 84.

For the 2008 arrears, the pension of Lt. Col. Fineboy as at December 2007 is N119, 797, 20. The pension increment of Lt. Col. Fineboy is N119, 797, 20 x 23% which gives us N27, 553, 36 effective January 2008. His arrears for the period up to October 2009 is N27, 553, 36 x 12months which amounts to N606, 173, 84. His new pensions’ effective January 2008 to date is N147, 350, 56. Therefore, the total arrears accruing to Lt. Col. Omo Fineboy is N1, 023, 645, 93.

Even though the pensioners were not aware of this 23%, the military pensions’ board was able to secure this release for them and we got the funds to pay those arrears. So the issue of how much a pensioner gets depends on when he or she was pay rolled into the board.

What are the benefits of the Medically-Boarded ex-soldiers in this package?

It is not every pensioner that got the arrears of 12 5% and 15% paid to them or that is entitled to it. Those that are entitled to these arrears are those on the pay roll by 1st October 2003. The medically board soldiers who were pay rolled on humanitarian grounds by the Federal Government, only got into our books effective January 2008. So they are only entitled to the 23% of 2008.

Have you made efforts to check some of the banks that transmit these monies to the beneficiaries and confirm they are paying exactly what is due to the ex military officers?

Yes, we have done that. The confusion is just this issue of 12. 5%. While the pensioners were expecting 12. 5%, what government approved and released funds for was only 6% and that 6% took the bulk of the arrears because it covered October 2003 to December 2006.

You find out that the 23% we got for them later was where they got the lump sum that meant something to them. Because while they were expecting that they were not aware that we were able to secure a 23% increase for them and that one enhanced their take home pay. And we have always said that if pensioners have problems of collecting their money or they are at a loss on any issue concerning their benefits, they should come and we will sort out the problem.

After the payment of these arrears, what now happens to the monthly collection of the ex-soldiers?

Even before the payment of the arrears, we had earlier reviewed their pay in November 2009. We reviewed the payment of their pensions upward in November 2009 when we secured approval from government pending the release of the money for the payment of the 12. 5% and 15% arrears. Maybe that is why some of them are saying they are still collecting the old rates.

http://www.vanguardngr.com/2010/10/pension-we-got-n17-1b-not-n70b-ex-soldiers/

kkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkk kkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkk

Is this laughter or your car is doing hard starting?

With the bolded above coming from SSS it obvious JEGA is only chasing SHADOW . . . . . . . . . . .

The WALES and SHARKS were not invited nor implicated? It just the TILIPIAs
Its God that fights (sic) for a cow without a tail!!!!!!!!!!

Same question am asking o

^^ Don't mind the OP.

^^^^The devil inhabits in you because you always had one too many drinks

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Buffett Goes Reinsurance Bottom-Fishing

October 19, 2010 by HESTER PLUMRIDGE

When Warren Buffett writes a check, the world peers over his shoulder. The veteran investor's decision to raise his stake in Munich Re, the world's largest reinsurer, from 3% to more than 10%, is a case in point. The reinsurance industry may be challenged by soft pricing and low investment income, but it's rarely looked so cheap. Even if catalysts for a re-rating look thin on the ground, Mr. Buffett can afford to take the long-term view.

Reinsurers face some chilling winter winds. Low bond yields and cash returns have slashed investment income; the stock market is spooked by regulatory uncertainty. After 2009's equity market recovery and low incidence of natural disasters, the industry was left with excess capital, which losses from Chile's earthquake and the Deepwater Horizon oil spill haven't dented. Overcapacity is depressing prices. Even in flood-ravaged Poland, insurers think they can stave off reinsurance premium increases next year.

But longer-term dynamics look more favorable. A big disaster on the scale of a 9/11 or a Hurricane Katrina could wipe out capital and weaken smaller players, as well as boosting pricing. Uncertainty over future regulation won't last forever. Valuations are already low. Reinsurers currently trade around tangible net asset value, and Munich Re at just 0.95 times, well below the sector's 1.2 times recent average.

Shareholders are also benefiting from strong balance sheets via dividends and buybacks. Munich Re yields a prospective 5.6% for 2010, estimates Credit Suisse, high relative to the market, and above closest peer Swiss Re. Munich Re's share buyback program, initiated May, targets a €1 billion ($1.4 billion) repurchase by April 2011. Strong cash generation suggests this could be extended next year, and dividends maintained or increased.

Mr. Buffett's interest in reinsurers is longstanding. Berkshire Hathaway acquired top 10 global firm General Re in 1998; in 2008 it took a 3% stake in Swiss Re. Munich Re investors will hope that, in Mr. Buffett's words, "time is the friend of the wonderful company". Mr. Buffett certainly seems to have faith.

http://www.proshareng.com/news/singlenews.php?id=12349

Origina Moto Mekanik is here (Original Motor Mechanic is here)

"People are like stained-glass windows. They sparkle and shine when the sun is out, but when the darkness sets in, their true beauty is revealed only if there is a light from within."

Elizabeth Kubler Ross

Investigation should tend towards digging out their financiers/sponsors. These ones are mere puns in the dastardly act,

Smile Makes It Little Easy.

DOUBT

Father, let thy will be done!

Mystikal, idem a ba di die?

Madam believes that "Wealth is health" unfortunately she is always ill. What an irony!

Too bad for the evil one.

The prayers of these women are working: www.nairaland.com/nigeria/topic-527493.0.html