Senators protest Buhari’s nomination of Umar as PenCom DG

Aisha umar, Pencom, NASS

President Muhammadu Buhari’s nomination of Aisha Umar as the new director general of the National Pension Commission (PenCom) as some senators at the upper legislative chamber on Tuesday vehemently protested the nomination. The lawmakers divided as soon as the Senate President, Ahmad Lawan, read Buhari’s letter, seeking Umar’s confirmation as the substantive DG of the agency. The letter also named Oyindasola Oni as Chairman on the agency. Six nominees for appointment as chairman, Director General and Executive Commissioners of National Pension Commission. Others nominated as commissioners are Hannatu Musa (North-West);…

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Defaulting employers cough out N17.52bn unremitted pensions — PenCom

Pension fund

As pension fund assets hits N11.09trn___________________________________ The National Pension Commission (PenCom) has recovered N17.52 billion from employers who deducted monthly pensions from their workers’ monthly salaries but refused to remit to their Retirement Savings Accounts (RSA) with the respective Pension Fund Administrators (PFAs). PenCom disclosed this in its second quarter 2020 report which was released on Friday. The amount consists of principal contribution of N8.89 billion and penalty of N8.63 billion. Part of the report read, “Following the issuance of demand notices to some defaulting employers whose outstanding pension contribution…

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AXA Mansard sells pension subsidiary to Verod

AXA Mansard sells pension subsidiary to Verod

The board of AXA Mansard Insurance Plc has announced divestment from its subsidiary, AXA Mansard Pensions Limited, based on the approval of its shareholders obtained at its Extra-Ordinary General Meeting held on February 13, 2020. In a corporate filing at the Nigerian Stock Exchange (NSE) on Monday signed by Mrs. Omowunmi Mabel Adewusi, its Company Secretary, AXA Mansard said Eustacia Limited, a member of the Verod, a private equity group, has emerged as the preferred bidder. Meanwhile, the completion of the divestment process was facilitated by Messer Rand Merchant Bank…

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