₦airaland Forum

Olive oil works, dont buy drugs please, you will not only grow facial hairs fast, but chest hair, in fact you will be riddled with hairs

arowtop:
Can you please share some of the products or drugs someone can buy to grow beard. thanks

Give it a lot of booster, have you tried to give him egg? Alsatians like eggs. For the bleeding, wrap the dog head around something very cold to stop it, like an ice block. I can relate with how you feel, dogs are special

Shut Up ! Some people are dying but you own a phone with no soul

adonbilivit:
life sha. some people are trying to raise money to save their dying siblings, parents, etc and here, someone is crying over a dying dog with no soul.

Empexy !

Eghosa1:
Members! #EndHungerNow

Who are you calling a loser? Abi oloriburuku leleyi ni, is linda your progeny? And when did you read the part I said she would have been better off as a wretched one? Eleribu somebody

lebete3000:
see another loserman talking, wanting to force a woman to be submerged in his poverty ridden life and not allow her maximize her potential to the fullest...better go village go find babe and make we hear word abeg!

Now it will be hard for aunty linda to find husband

Cc Lalasticlala

Uneasy calm pervades in the ibeshe part of Ikorodu as john(psuedonym) drowned while swimming with his friend in the ebute area of ibeshe yesterday

Paramedics were called to the scene this morning, where the boy had disappeared under the water and he is still currently riddled somewhere underground

The family of the boy who is still in shock after the allegory incident blamed the dredgers for not putting up a warning signal to avert such occurence

Speaking to Naijanewsrave correspondent, A man who pleaded to be anonymous said the Lagos state government has it’s share of killing the boy, he laid emphasis on how the anomaly mode of operation is being done, in his words; “everywhere I know they dredge, they dredge in the middle of the water, not close to the water, that’s why when there is a little rainfall the whole place community is riddled with the water”


All efforts to find the boy has been abortive, LASEMA visited the scene but fled when they saw the depth of the canal, the Ilaje boys left the scene after trying all tricks under the water to get the body

The body of the deceased is currently no where to be found and the family has resigned to waiting till the water returns him in due time


http://www.naijanewsrave.com/photos-teenager-drowns-inside-ikorodu-river-community-blames-dredgers-for-setting-trap/

Lalasticlala ishilove1

Going braless is taking the fashion world by storm. It’s happening all around the world.

Women are tossing out the underwear in favour of letting their tatas be untamed. There’s a multitude of advantages to this look. Here are ten of them:

1. You’ll save money

Bras are pricey. Nice bras are ridiculously expensive. The truth is ditching them will transform your bank account. Especially when you consider the lifespan of bras as well as the variety we tend to “need” (black, nude, strapless, etc.). You won’t know what to even do with all the newfound dough. Here’s a crazy idea! Buy articles of clothing people will actually get to see. Just a suggestion.

2. You won’t ever have to worry your pretty little head over your bra showing ever again

Whether it’s the colour or texture peaking through your top or the bra strap itself, this garment often wants to make an appearance and ruin your carefully crafted outfits. Nip its thirst for the lime light in the bud and take it off.

3.Sore no more

Underwire poking you. Straps digging into you. Tags irritating you. It all adds up and makes wearing bras very uncomfortable. It’s OK, you can admit it. Get it off your chest. In more ways than one.

4. You’ll perk up!

And I’m not just talking about your mood (see 1 and 4)(also 2 and 3). Your breasts will actually get perkier sans bra. It sounds counter intuitive but is very much true, nonetheless. There are ligaments in breasts with the purpose of providing support. When you wear a bra, you’re leaving no work for said ligaments. Not unlike a muscle, if they’re not put to use, they deteriorate. Luckily, the process is reversible. You can start to see a difference within months of going braless.

5. Bra-free is heat-free

Summers can get brutal when your boobs are strapped tightly to your chest, no breeze and no room to breath. It gets so hot in there and yeah, you sweat a little. No shame. Leaving your breasts unclad keeps them from overheating and keeps you from crying in hopes that the tears will cool you down.

6. Say no to rolls

No matter how much you weigh, wearing a bra means you run the risk of having it squeeze some back fat into view, which isn’t everyone’s favourite thing.

7. Style

As I’ve already mentioned, going braless is the latest trend in fashion. It’s happening on red carpets in addition to the runway. It’s edgy. it’s fun, it’s sexy and it’s playful.

8. You’ll feel fearless

Let us know if you agree, but there’s something about “daring” to go braless that’s so bold and well… chesty.

Truth be told, the only disadvantage to going bra free is not being able to experience taking it off at the end of the day. However, if you can’t see the flaw in that logic and remain unconvinced, perhaps bras are for you and that’s quite alright.

http://www.naijanewsrave.com/8-reasons-not-to-wear-a-bra-anymore/

Lalasticlala oo

October 13 is National No Bra Day, an annual holiday reportedly
created in 2011 by breast cancer supporters that’s now sweeping
social media.

NATIONAL NO BRA DAY

National No Bra Day is observed annually on October 13. This
is a day to leave your bra at home.

National No Bra Day is meant to promote breast cancer
awareness and to help raise money for research. Many women who have survived breast cancer are unable to go without a bra as they need it to hold their prosthesis after
surgery. This also serves as a reminder for all women to be screened for breast cancer.
no bra day
OBSERVE

Make an appointment for a mammogram. Use #NoBraDay or
#NationalNoBraDay when posting on social media.
no bra dayno bra day IMG_20151013_102542no bra day
Ladies, free your breasts for 24 hours by removing
those dreadful (but at times oh-so-helpful) bras. Our
perkiness should not be hidden. It is time that the world see what we were blessed with. Your breasts might be colossal, adorable, miniature, full, jiggly,
fancy, sensitive, glistening, bouncy, smooth, tender, still blossoming, rosy, plump, fun, silky, Jello-like, fierce, jolly, nice, naughty, cuddly
no bra dayno bra dayno bra day
P.S. Ladies…. Wearing a white t-shirt on this day is
not only acceptable, but encouraged!

If you can’t find your pictures here or you want to add, kindly mail us info@naijanewsrave.com

http://www.naijanewsrave.com/photos-nigerians-celebrate-national-nobraday/

He wrote you can send sms, do you have down syndrome?

gebest:
sheeew, as if he will ever pick if they called him.

Operators in the Contributory Pension Scheme are putting in place measures that will help Nigerians in the informal sector to cultivate a savings habit and have retirement accounts.

This was contained in a report on informal sector participation in the CPS, which was obtained from the National Pension Commission.

“In the effort to encourage a informal sector participation in the CPS, the commission developed and distributed the framework for the informal sector participation in the CPS to all stakeholders for comments,” it stated.

The report said the input from various stakeholders had been collated and subsequently incorporated into the framework to usher the informal sector into the system.

The Director-General, PenCom, Mrs. Chinelo Anohu-Amazu, said the Federal Government planned to introduce millions of workers in the informal sector to the CPS, using the micro pension initiative.

She added that a nationwide dialogue with self-employed persons and workers in the informal sector was ongoing ahead of the commencement of the micro pension scheme in the country.

“Government hopes to bring at least 20 million informal sector
workers and self-employed persons into the scheme in the next four
years; necessary arrangements are being put in place to ensure a
smooth take-off of the scheme later this year,” she said.

The Chairman, Pension Fund Operators Association of Nigeria, Mr. Misbahu Yola, said the operators were working on a framework to bring the informal sector into the scheme because there was an obvious gap between workers in Nigeria and those that the operators had registered
under the CPS.

He said, “We only need a framework that will enhance identity, and be able to educate the artisans so that they would understand pension as opposed to savings, which would enable them to appreciate the essence of saving for retirement,” he said.

According to Yola, it is important for workers to have pension accounts if they are to have the deserved comfortable lifestyle at retirement.

http://www.naijanewsrave.com/operators-plan-pension-account-for-artisans/

An Igbosere Magistrate’s Court has sentenced a 20 year old housemaid, identified as Vivian, to 2 months’ imprisonment for stealing her female boss' sets of underwear and other valuables.
The maid who was employed by Bisi Awoniyi, was on a salary of N20,000 per month and had 1 day off each week.

On September 9th which was her arranged day off, her boss asked to search her bag before she could leave. During the search, the boss discovered face towels, several pieces of underwear and night wears that belonged to her (the boss).

After checking the accused’s phone, she also discovered that Vivian had three different newly-opened bank accounts.

The boss immediately reported the matter to Dolphin Police Station, Ikoyi, and Vivian was arrested.

The police obtained a search warrant on the house where the housemaid stayed, and discovered more stolen items.

The maid was arraigned on one count of stealing.

The accused pleaded guilty and the magistrate, Mrs A.G, Omoyele, sentenced her to 2 months’ imprisonment

http://www.naijanewsrave.com/housemaid-jailed-for-stealing-underwear/

Cc lalasticlala

Cc lalasticlala and ishilove

Growing a beard can be one of life’s secret joys; even a token accomplishment. Not all men find it easy to grow plums of facial hair, but there are a few things you can do to help. While the rate and thickness of growth you produce will be dependent on your age and genetics, one thing all men lack is patience. This is how many men come to ask for advice on how to make your beard grow faster, as no one enjoys the itchy, fuzzy growing in phase.

So, if you are looking to get into the beard scene, Male Standard has a few tips to share to help you look and feel like a pro in no time!

1. Give Your Beard the Tools to Grow

It might sound obvious, but a diet high in protein, with less stress and more sleep can help you grow a faster beard. Stress is one of the contributing factors of hair loss, and will reverse the effects in men of any age. Protein gives your body the right nutrients to grow more hair, and sleep is the necessary time to put it all into place. Even drinking the recommended eight glasses of water a day will help keep the growth thick and healthy.

Biotin is a natural hair growth supplement that you can take to help improve the hair quality and growth. This is especially helpful in men who suffer thin, patchy beards. Biotin contains Vitamin B6, C, and E, which will help keep your hair and skin in top shape. The downside to this supplement is that hair and nails are much alike, and accelerated nails and other bodily hair are likely to occur. So make sure you can deal with this potential before going forward.

2. Commit to Growing a Beard

The next problem men face when trying to grow a beard faster is unreasonable expectations. It is almost impossible to wake up one morning with a fully-fledged beard, but you can begin to see growth over a few days. When tempted to shave it all off, remember that it will take time and that you are taking active steps in the right downward direction. Most men move out of the itchy, growing in phase by the end of the week, so focus on something else and it will arrive faster.

Go through the Male Standard vaults and look up different shapes and styles. Go check out the best product reviews and see what’s on offer as a means of distraction.

Or choose a beard personality from the chart pictured above

3. Work With the Facial Hair You Have

Just because the beard is not super long yet, or where you want it to be, does not mean you can’t enjoy the growth that you have. Embrace each new growth phase as a time to test out new styles, and enjoy growing from stubble into substantial growth. Keeping the beard trim is also a great technique for creating the appearance of thicker, fuller hair. Long, straggly hair is not going to look good on anyone.

Invest in a quality facial groomer, so that you can style the longer hair as it comes in. While it might seem counterintuitive to cut hair, keeping it in shape also promotes new growth. Much like the hair on your head, split ends and damage mean that your body is working overtime to repair that damage instead of creating new growth. So don’t be scared to trim things back or into shape, if you are looking for lofty facial locks.

4. Fill in the Blanks

If like many men, you suffer patchy facial hair, consider filling in the blanks with beard products that give the appearance of thicker beards. This will immediately draw the eye to the area and make it look as if there is more hair than there is. Most of the time, celebrities keep their beards short and thick, and use this approach. You would be surprised how short some beards actually are, but it’s actually their presence that carries the greatest of weight.

Any barber worth his salt keeps this stuff on hand. A beard thickener is a spray on product, which gives professional results. Use this in areas where you have thin, patchy growth to give the appearance of a fuller beard. Just be sure you don’t overdo it, otherwise you might end up Amish on the scale of awesome. Also, choose a color, which is closest to your natural so you don’t end up with a weird leopard print effect (unless that’s your thing).

5. Keep Your Facial Hair in Good Condition

Once you have grown your beard, keeping it in top condition will prevent the need to trim if off and start again. Castor oil is a great conditioning treatment that promotes hair growth, and will keep your beard moving in the right direction. Apply castor oil at night before you go to bed (a towel will help prevent staining), and wash off in the morning. Keep this ritual daily until the hair shows successful growth, and then move to a weekly régime.


http://www.naijanewsrave.com/5-ways-to-make-your-beard-grow-faster/

Iyanya made more hits with Young D, not K-Solo

Life after service used to be one of the biggest fears of most Nigerian workers in years past especially those working in the formal sector with bitter tales from their retired colleagues over delayed and sometimes non-payment of both gratuity and pensions.

Mr. Williams Ochidi, a retiree from federal civil service living in Abuja, while comparing his pension experience now with that of his senior colleagues before the pension scheme reforms said, life is far better now under the reformed scheme than what it used to be.

“It got to a time during the Abacha’s time to Obasanjo’s first regime when I was virtually taking care of my retired brothers’ families because of many months of non-payment of their pensions which was a reoccurring decimal then. My eldest brother was a retired military man while his immediate junior retired from federal civil service just like me. Each time I help them or when they cry to me for financial help, I will almost have heart attack, not because of their problem then, but because of fear that I might be in their shoes when I retire,” he said.

Mr. Ochidi who said he lost his eldest brother to accident while on his way for pension verification exercise which was a yearly drill in the past for retirees’ especially ex-service men said, “I still remember when these retirees are left under the weather for long hours and sometimes for days on queue before collecting their pensions. During those days, some pensioners died while standing in queue under the inclement weather just to collect their pension.”

One of the issues around pension scheme in the past was that civil servants bore no direct responsibility by way of payroll tax for the provision of pension, instead pension benefits were paid through budgetary allocations which are kept in consolidated revenue fund. More often than none, the actual appropriation for pension payment are not released to serve its purpose.

Due to the problems with the Nigerian pension system including lack of reliable records of pensioners, huge amount of resources on what became yearly verification exercises that did not address efficient pension payment, the pension reform act (Pension Reform Act 2004) was enacted in 2004 by the Obasanjo administration. This was to address and eliminate the problems associated with the pension scheme.

The enactment of the act ushered in a Contributory Pension Scheme (CPS) that is fully funded, privately managed and based on individual accounts for both the public and private sector employees in Nigeria. The Act also established the National Pension Commission (PenCom) as the sole regulator and supervisor of all pension matters in the country

“I had some doubt when I started using one of the Pension Fund Administrators (PFA) for my pension scheme but so far, I will say I am really impressed by the promptness of my PFA in the payment of both my gratuity and my monthly pension,” Agnes Eboh, a recently retired private sector employee said.

Just like Mr. Ochidi, part of Mrs. Eboh’s fear was getting his gratuity paid on time due to past experience but both expressed satisfaction with the smooth and rigorous free verification exercise for their gratuity and pensions to be paid.

“I will encourage all employers in this country to enrol their workers to help them when they retire like me,” Mrs Eboh stated.


http://www.naijanewsrave.com/nigerian-woman-shares-her-testimony-on-pension-heaps-praises-on-pencom/

Life after service used to be one of the biggest fears of most Nigerian workers in years past especially those working in the formal sector with bitter tales from their retired colleagues over delayed and sometimes non-payment of both gratuity and pensions.

Mr. Williams Ochidi, a retiree from federal civil service living in Abuja, while comparing his pension experience now with that of his senior colleagues before the pension scheme reforms said, life is far better now under the reformed scheme than what it used to be.

“It got to a time during the Abacha’s time to Obasanjo’s first regime when I was virtually taking care of my retired brothers’ families because of many months of non-payment of their pensions which was a reoccurring decimal then. My eldest brother was a retired military man while his immediate junior retired from federal civil service just like me. Each time I help them or when they cry to me for financial help, I will almost have heart attack, not because of their problem then, but because of fear that I might be in their shoes when I retire,” he said.

Mr. Ochidi who said he lost his eldest brother to accident while on his way for pension verification exercise which was a yearly drill in the past for retirees’ especially ex-service men said, “I still remember when these retirees are left under the weather for long hours and sometimes for days on queue before collecting their pensions. During those days, some pensioners died while standing in queue under the inclement weather just to collect their pension.”

One of the issues around pension scheme in the past was that civil servants bore no direct responsibility by way of payroll tax for the provision of pension, instead pension benefits were paid through budgetary allocations which are kept in consolidated revenue fund. More often than none, the actual appropriation for pension payment are not released to serve its purpose.

Hahahaha

Swissheart:
Lol.. Vacancy indeed....na curse oh....dump refuse here and get ur entire lineage wiped out,urinate here and get destroyed

I don’t really understand Yoruba especially the ijebu part but I am sure the picture above is a job vacancy at the lawma office or one of the numerous job offers in Lagos

Please indulge us if you can read Yoruba perfectly


http://www.naijanewsrave.com/photo-yoruba-people-can-you-translate-this-for-us/

Shut The Bleep Up! You are not any smarter than the guy who bought the car

MosakuAW:
Church business will continue to be lucrative till the end of the world.

He gave a pastor a N29million car and he doesnt own a car himself. Hmmmmm!

God is watching us, God is watching ussssss... from a distance.

Educating

Lalasticlala,ishilove can we push this to fp?

Today, we will be talking about the challenges and future of Nigeria’s pension industry. Nigeria does not rate very highly when compared to other developing nations due to our size as the most populous nation in Africa, or the length of time Nigeria has had a well-structured pensions
industry, which is about 11 years. When certain parameters are used to measure comparison such as size of pension funds as a proportion of the Gross Domestic Product, Nigerian does not rank very high. In terms of
pension fund assets as proportion of GDP South Africa stands at 87.96 per cent; Namibia, 77.03 per cent; Botswana, 40.05 per cent; Kenya, 13.25 per cent; Ghana, 5.35 per cent; and Nigeria, 5.06 per cent.

PenOp is very mindful of the fact that a lot of Nigerians focus on
today and do not pay much attention to how they will fare in old age or how they will cater for their loved ones when they retire. This way of thinking coupled with the bad perception of pensions due the mismanagement that plagued the old system means we have our work cut out for us as an association in raising the awareness of the safety of the
CPS and importance of pensions to all Nigerian workers and this we are tackling head on through forums, social media, the print media.

Voluntary contributions are not driven just by hammering on the
importance of savings and an ability to put extra part from what is demanded by law, but with the current awareness levels being what it is and also taking into consideration the challenges of getting employers/employees to comply with the mandatory contribution, the voluntary contributions are not very high. Figures received from PenCom
indicate that they currently stand at approximately 0.24 per cent of the total pension assets under management. This figure will change once the informal sector is fully engaged in the CPS.

We know that many companies have failed to comply with the Pension
Reform Act even after deducting from employee salaries, and this has been a major drawback. The failure of the defaulting companies as one of the many problems hampering the progress of the organization. The PRA
2014 states that it is mandatory for any employer with three or more employees we are trying to keep track, and the regulatory body responsible for enforcing compliance is PenCom, who are dedicated to this task. The PRA 2014 has also clearly spelt out penalties for defaulting employers which PenCom enforces. It is important to point out
however, that employees of such employers, who either deduct and do not remit to their employees RSA or do not deduct at all, have recourse.

They must be proactive by sending details of their employers contact
address (anonymously if they so wish) to PenCom’s compliance
department and also to their PFAs to follow up and ensure their
employers are forced to comply with the law.

Another area where there have been concerns is the investment of the pension funds. Capital market operators have lamented that pension fund administrators have refused to seriously invest in equities. Though PFAs take their role as fiduciaries of other people’s savings extremely
seriously which is why they are guided by what we call the “Trifecta” – safety, liquidity, then returns. PE offers higher returns but higher risks too. Note that we are not averse to investing in equities; however, we will only do such investments through safe instruments or
vehicles. We must see that there is a very clear path of getting
invested capital back, plus a fair return. Our mantra has always been safety first, followed by liquidity and return. Remember that retirees will be paid with cash, not brick or mortar. There is need for some kind of credit enhancement to make the investments more attractive. This could come by way of partial or full guarantee of say, the Federal Government of Nigeria. The current PenCom guidelines have widened the
playing field by allowing for investment in many alternative asset classes, including Private Equity, infrastructure bonds/funds, mortgage backed securities etc, so there is a diversified range of assets we can
invest in. The challenge is the quality of the available proposals. We emphasise safety and liquidity over return. The way the pension system is set up under the new Scheme – Contributory Pension Scheme, there
are many checks and balances put in place as measures to ensure the
safety of the funds. For instance, the PFAs never have direct access to the funds contributed. These are held with the pension fund custodians
who have the guaranteed backing of four of the biggest and well
established banks in the country namely First PFC, Zenith PFC, Diamond PFC and UBA PFC.
The Custodians transact based on the instructions of the PFAs and in line with regulations/guidelines set by PenCom. PenCom on the other hand
monitors very closely the transactions made on pension funds and have set out strict guidelines on investment that further ensure the safety and relative liquidity of the funds.

In recent times the savings culture of Nigerians has improved. There is still a long way to go as we can be quite myopic sometimes and choose not to focus too far in future hoping that it will take care of itself.
Savings can greatly be encouraged through education in pensions and
retirement planning as well as a boost in salary because it is when you have excess left that you truly say something meaningful. This highlights the
importance of the CPS even more because it makes saving for the future mandatory so whether you like it or not, you can expect a pension when you retire. You may not appreciate the mandatory nature of the scheme now but having a steady source of income from savings is usually a great
feeling as attested to by most of our retirees.

PenOp is naturally focusing on how to improve Nigeria’s pensions
industry through efforts that enhance service excellence and capacity building as well educating the general populace. To achieve this, PenOp has played a very active role in driving legislation that has made Pensions more inclusive for Nigerians ie from employers of five or more employees to now employers of three or more employees. PenOp is also active on social media driving the conversation with Nigerian workers, answering their questions and educating them on how the CPS works, processes involved and importance of Pensions. There is a lot of
misinformation and mistrust still existing and we are tirelessly
addressing peoples’ concerns. As the CPS will include the informal
sector shortly, it is essential that the Operators front office staff and operations staff are well trained and PenOp has organised trainings in Abuja, Lagos and Port Harcourt to improve and ensure the standard of
service being provided by all Operators is in line with International Best Practices. PenOp has also organised extensive trainings in investment of pension funds and risk management all aimed at service
excellence. We have also held fora in conjunction with key stakeholders like NECA and PenCom to educate them on the implications of the PRA 2014
on employers and employees alike. Information is Power thus we seek to empower Nigerian workers by keeping them informed enough to make wise decisions regarding the financial security of themselves and their loved ones.

There are a few main concerns for the industry: one, compliance with
the law has been waning; rate of enrolment into the CPS has slowed down.

Current enrolment stands at 6.5 million out of a population of 170
million. How can we get traction in compliance and thereby raise the number of contributors to say 20 million in the next three-five years?

Two, funding of registered RSAs is becoming a challenge for many
employers. Three, while our investments have been safe and returned reasonably above inflation in the past, inflation is rising and with currency devaluation, real return on investments is threatened, and four, general awareness on the importance of pensions among Nigerian workers.

We would definitely consider the young vibrant population of workers that have their whole careers and lives ahead of them a definite strength for the pensions industry as they represent a pool of funds that can be invested for economic growth. Also, the highly regulated and supervised Contributory Pension Scheme which ensures Nigerian workers can trust the system and more importantly can retire in peace and financial stability whilst maintaining a decent standard of living.

Finally, the drive of the operators to ensure people’s savings are managed and administered at international best standards so there will be no repeat of the old scheme is a definite strength for the Nigerian pension industry.


http://www.naijanewsrave.com/the-challenges-and-future-of-nigerias-pension-industry/

Executive Secretary of The Nigeria Pension Fund Operators talks about the challenges, achievements and future of Nigeria’s pension industry

In comparison with other countries, she rated the Nigerian pension scheme very low, In her words: Nigeria does not rate very highly when compared to other developing nations due to our size as the most populous nation on the continent or the length of time Nigeria have had a well-structured pensions industry which is about 11 years old. When certain parameters are used to measure comparison such as size of pension funds as a proportion of the Gross Domestic Product, Nigerian does not rank very high. In terms of pension fund assets as proportion of GDP South Africa stands at 87.96 per cent; Namibia, 77.03 per cent; Botswana, 40.05 per cent; Kenya, 13.25 per cent; Ghana, 5.35 per cent; and Nigeria, 5.06 per cent.

She however discredited that nothing is being done to create awareness among Nigerians on the importance of having a pension. She said PenOp as an association is particularly passionate about raising the awareness of Nigerians, especially young professionals. We are very mindful of the fact that a lot of Nigerians focus on today and do not pay much attention to how they will fare in old age or how they will cater for their loved ones when they retire. This way of thinking coupled with the bad perception of pensions due the mismanagement that plagued the old system means we have our work cut out for us as an association in raising the awareness of the safety of the CPS and importance of pensions to all Nigerian workers and this we are tackling head on through forums, social media, printed press, etc.

She added the voluntary contributions are not driven just by hammering on the importance of savings and an ability to put extra part from what is demanded by law, but with the current awareness levels being what it is and also taking into consideration the challenges of getting employers/employees to comply with the mandatory contribution, the voluntary contributions are not very high. Figures received from PenCom indicate that they currently stand at approximately 0.24 per cent of the total pension assets under management. I believe that this figure will change once the informal sector is fully engaged in the CPS.

Many companies have failed to comply with the pension reform act even after deducting from employee salaries which has been a major drawback. Susan Oranye highlighted the failure of the defaulting companies as one of the many problems provoking the progress of the organization. The PRA 2014 states that it is mandatory for any employer with three or more employees but remember there are so many employers and it is almost impossible to keep track. The Regulatory body responsible for enforcing compliance is PenCom and they are dedicated to this task. The PRA 2014 has also clearly spelt out penalties for defaulting employers which PenCom enforce. It is important to point out however, that employees of such employers, who either deduct and do not remit to their employees RSA or do not deduct at all, have recourse. They must be proactive by sending details of their employers contact address (anonymously if they so wish) to PenCom’s compliance department and also to their PFAs to follow up and ensure their employers are forced to comply with the law.

Another area where there have been concerns is the investment of the pension funds. Capital market operators have lamented that pension fund administrators have refused to seriously invest in equities. Though PFAs take their role as fiduciaries of other people’s savings extremely seriously which is why they are guided by what I call the ‘’Trifecta’’ – safety, liquidity, then returns. PE offers higher returns but higher risks too. Note that we are not averse to investing in equities; however, we will only do such investments through safe instruments or vehicles. We must see that there is a very clear path of getting invested capital back, plus a fair return. Our mantra has always been safety first, followed by liquidity and return. Remember that retirees will be paid with cash, not brick or mortar. There is need for some kind of credit enhancement to make the investments more attractive. This could come by way of partial or full guarantee of say, the Federal Government of Nigeria. The current PenCom guidelines have widened the playing field by allowing for investment in many alternative asset classes, including Private Equity, infrastructure bonds/funds, mortgage backed securities etc, so there is a diversified range of assets we can invest in. The challenge is the quality of the available proposals. We emphasise safety and liquidity over return. The way the pension system is set up under the new Scheme – Contributory Pension Scheme, there are many checks and balances put in place as measures to ensure the safety of the funds. For instance, the PFAs never have direct access to the funds contributed. These are held with the pension fund custodians who have the guaranteed backing of four of the biggest and well established banks in the country namely First PFC, Zenith PFC, Diamond PFC and UBA PFC. The Custodians transact based on the instructions of the PFAs and in line with regulations/guidelines set by PenCom. PenCom on the other hand monitors very closely the transactions made on pension funds and have set out strict guidelines on investment that further ensure the safety ad relative liquidity of the funds.

When asked if Nigerians are saving enough for retirement, she said: in recent times the savings culture of Nigerians has improved somewhat. There is still a long way to go as we can be quite myopic sometimes and choose not to focus too far in future hoping that it will take care of itself. Savings can greatly be encouraged through education in pensions and retirement planning as well as a boost in salary because it is when you have excess left that you truly say something meaningful. This highlights the importance of the CPS even more because it makes saving for the future mandatory so whether you like it or not, you can expect a pension when you retire. You may not appreciate the mandatory nature of the scheme now but having a steady source of income from savings is usually a great feeling as attested to by most of our retirees.

On if the association are looking at improving or adding to the country’s pension industry she said the association of pension operators is naturally a major focus of ours to improve Nigeria’s pensions industry through efforts that enhance service excellence and capacity building as well educating the general populace. To achieve this, PenOp has played a very active role in driving legislation that has made Pensions more inclusive for Nigerians ie from employers of five or more employees to now employers of three or more employees. PenOp is also active on social media driving the conversation with Nigerian workers, answering their questions and educating them on how the CPS works, processes involved and importance of Pensions. There is a lot of misinformation and mistrust still existing and we are tirelessly addressing peoples’ concerns. As the CPS will include the informal sector shortly, it is essential that the Operators front office staff and operations staff are well trained and PenOp has organised trainings in Abuja, Lagos and Port Harcourt to improve and ensure the standard of service being provided by all Operators is in line with International Best Practices. PenOp has also organised extensive trainings in investment of pension funds and risk management all aimed at service excellence. We have also held fora in conjunction with key stakeholders like NECA and PenCom to educate them on the implications of the PRA 2014 on employers and employees alike. Information is Power thus we seek to empower Nigerian workers by keeping them informed enough to make wise decisions regarding the financial security of themselves and their loved ones.

There are a few main concerns for the industry: one, compliance with the law has been waning; rate of enrolment into the CPS has slowed down. Current enrolment stands at 6.5 million out of a population of 170 million. How can we get traction in compliance and thereby raise the number of contributors to say 20 million in the next three-five years? Two, funding of registered RSAs is becoming a challenge for many employers. Three, while our investments have been safe and returned reasonably above inflation in the past, inflation is rising and with currency devaluation, real return on investments is threatened, and four, general awareness on the importance of pensions among Nigerian workers.

I would definitely consider the young vibrant population of workers that have their whole careers and lives ahead of them a definite strength for the pensions industry as they represent a pool of funds that can be invested for economic growth. Also, the highly regulated and supervised Contributory Pension Scheme which ensures Nigerian workers can trust the system and more importantly can retire in peace and financial stability whilst maintaining a decent standard of living. Finally, the drive of the operators to ensure people’s savings are managed and administered at international best standards so there will be no repeat of the old scheme is a definite strength for the Nigerian pension industry. She added

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Why public service retirees are treated differently from private sector retirees regarding administration of their retirement benefits

The only difference in the way public sector and private sector clients are treated is with regard to confirmation of total remittances into the RSA which necessitates that the PFAs confirm from the employers that all funds due to any Retiree have been remitted into the RSA; before going ahead to process retirement benefits. This process is also applicable to self-funded Government Parastatals. Other than this, the documentation requirements and process to access the benefits are the same for the public sector and the private sector.

In line with the provisions of the Pension Act of 2014, Pencom has released guidelines for the withdrawal of pension funds
This new development will enable Retirement Services Account (RSA) holders to make use of their pension fund balances to make acquisitions of their primary homes.

In a statement made available to us by Chinel Anohu-Amazu, the Director General of National Pension Commission, He said; the change was made to allow for "funds to be accessed in a manner that is safe".
Currently, Nigeria’s contributory pension system is a function of the employee’s salary- 10 per cent paid by the employer and eight per cent paid by the employee.

Anohu Amazu who met President Muhammadu Buhari recently said they extensively spoke on the pension industry as a whole and highlighting the achievements as well as bringing to the fore the challenges.

One of the primary issues surrounding pensions in Nigeria is the payment of the accrued rights, which are pensioners who have already retired with a hybrid of this contributory pension system and accrued rights from their previous careers and the federal government, she  said

“As is typical of Mr president, as soon as the challenges were explained to him, he ordered both the minister of finance and the Central Bank of Nigeria to make sure the complete off-setting of the pension liabilities under the CPS [contributory pension scheme] is supervised  so retirees don’t have to wait forever to get their pension.”

Further, the ministry also asked for the president’s participation in the World Pension Summit, specifically with the World Pension’s Reward which will look into African countries’ innovation, corporate governance and their administering of African benefits.

The beauty of the contributory pension system, you don’t have to run after anyone to pay your dues, you receive quarterly statements as soon as you retire, your money is paid immediately.” Amazu Anohu said

She made a distinguish comparison between  the old system of accrued rights and the current one, those contributions are “safe and intact” and they are just waiting for the accrued rights to come in so that the computation can be done on a global basis.  “Those who have retired on the contributory system don’t have that problem.”


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PenCom is about to go after employers that fail to remit deductions from their workers’ salaries into their Retirement Savings Accounts.

PenCom’s DG, Dr. Chinelo Anohu-Amazu, who briefed President Buhari yesterday, said they are working with the police to ensure that it happens. The police will work with a department in the commission devoted to enforcement and compliance, she added.

Right now PenCom, has a whole department devoted to enforcement and compliance. PenCom has also engaged recovery agents because the compliance is on many levels; some people have made deductions from their workers’ salaries and have not remitted them into their RSAs.
President Buhari promised to take concrete actions to end the problems faced by retirees in accessing their retirement benefits. He also directed Pen- Com to urgently look into complaints of retirees with a view to easing their access to their retirement benefits. The president also directed PenCom to work with the NEC to ensure that all the states fully comply with PenCom guidelines.

The DG said bottlenecks are because the transfer of federal workers to the contributory pension system, midway into their career.

There are 6.637 million retirement savings account holders today which is only about 11 per cent of the working population. The pension scheme has given RSA holders freedom to determine how their retirement benefits would be administered



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