Aviation professionals petition minister over N120bn pension fund

Aviation professionals petition minister over N120bn pension fund   The Association of Nigeria Aviation Professionals (ANAP) has expressed concern over the inability of workers at the Federal Airports Authority of Nigeria (FAAN) to access their over N120 billion pension funds as a result of poor documentation. The situation has been heightened by the devastating effects of COVID-19 that has wreaked havoc leading to dwindling revenue in the aviation agency. The association said that workers would not fold their arms and watch their revenue nose diving after the havoc wrecked by…

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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

Nigeria’s pension assets

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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Pension Fraud: It was hard decision standing surety for Maina – Ndume

Pension, Pension Fraud, Ndume, Maina

Former senate leader, Senator Ali Ndume, All Progressives Congress, APC, Borno South, has explained why he stood surety for the embattled chairman of the defunct Pension Reform Task Team, Abdulrasheed Maina, who is facing trial over alleged involvement in money laundering. In a text message to journalists, Ndume noted that it was a hard decision for him to take, adding that Maina was one of his constituents who required a serving senator to stand for him The lawmaker said he had to take the decision because he stood for the…

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