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Lagos pays N1.3 billion into the RSA of 246 retirees

LASG has paid about N1.3 billion into the Retirement Savings Account (RSA) of 246 retirees.

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Lagos State Government (LASG) has paid about N1.3 billion into the Retirement Savings Account (RSA) of 246 retirees in the state’s public service for the month of October.

According to a report from the News Agency of Nigeria (NANS), the disclosure was made by the Director-General of Lagos State Pension Commission (LASPEC), Mr. Babalola Obilana, in a statement he made on Sunday 1st, November 2020.

He said that a total of N1,300,374,372.86o was paid into the Retirement Savings Account (RSA) of 246 retirees in the state’s public service for October.

Mr. Obilana explained that the beneficiaries included employees from the mainstream service, Local Government Service, State Universal Basic Education Board (SUBEB), Teaching Service Commission (TESCOM), and other parastatals of the state government.

He reiterated that this is rather routine to the current administration in Lagos, as Gov. Babajide Sanwo-Olu has consistently paid the monthly entitlements of retirees and backlog of some unpaid pension inherited from previous administrations.

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(READ MORE: Pension Fund Administrators in Nigeria and their scorecard)

The DG congratulated all the retirees for rendering meritorious service to the state. He, however, enlightened the retirees on the two payment options available for accessing their monthly pension entitlements – Programme Withdrawal and Life Annuity.

He urged the retirees to understand the details of the two options and choose the most appropriate option suitable for their situation.

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What they are saying

Commenting on the payment made by the state government into the Retirement Savings Account of 246 retirees in the state, the Director-General of Lagos State Pension Commission (LASPEC), Mr. Babalola Obilana said,

“The payment shows the commitment of Gov. Sanwo-Olu to the welfare of the pensioners in the state, in spite of the state of the nation and aftermath of the global COVID-19 pandemic, the state government in line with the vision of a greater Lagos and its commitment to financial freedom for the state’s retirees, ensured the payment of pension entitlements.”

2 Comments

2 Comments

  1. Nivai K Nduka

    November 2, 2020 at 4:17 am

    He didn’t wwve a magic wanf or give anybody anything ftom hos pocket. He paid some ot all of those whi were due theit entitlement. So why the accolade?

  2. Temi

    November 2, 2020 at 6:09 am

    It is their entitlement not a favour you are doing them. Mschewwww

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Exited N-Power beneficiaries to apply for CBN empowerment options

A portal to enable Exited N-Power beneficiaries apply for CBN empowerment options has been launched by the Ministry of Humanitarian Affairs.

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N-power

The Ministry of Humanitarian Affairs, Disaster Management, and Social Development has launched a portal enabling exited N-Power beneficiaries to apply for CBN empowerment options.

This was disclosed by the Ministry in a social media statement on Friday evening.

READ: NDDC Probe: Akpabio accuses NASS members of getting most of the commission’s contracts

According to the press release by the Ministry, “The platform which was developed in collaboration with the CBN will enable Exited N-Power Beneficiaries to log on and apply for the various economic, empowerment, and entrepreneurship options provided by the CBN.”
The statement which was signed by the Permanent Secretary of the Ministry Bashir Nura Alkali, quoted the Honourable Minister, Sadiya Umar Farouq urging interested Exited Beneficiaries of N- Power to log on to the portal and provide the required additional information for possible placements into the various CBN intervention options.
The Minister also emphasized that the NEXIT PORTAL will determine the suitability of the beneficiaries for the CBN affiliated programs.
“The NEXIT portal is to determine the suitability of the beneficiaries for the CBN affiliated programs and is dependent on meeting the criteria and conditions set by the CBN for the said programs,” she said.
Farouq pledged the Ministry’s willingness to collaborate with relevant agencies of government and other stakeholders towards the realization of that vision and congratulated the exited beneficiaries while wishing them well in their future endeavours.

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Nigeria’s University lecturers union, ASUU, calls off 8-month strike

ASUU called off its eight-month long strike that has grounded academic activities in the public universities.

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ASUU, calls off 8-month strike

The Academic Staff Union of Universities (ASUU) has called off its eight-month-long strike that has grounded academic activities in the public universities. The union took the decision after it agreed to accept government’s total payment of N70 billion.

READ: NCC disburses N100 million to universities for ICT Research

The was disclosed by ASUU via its Twitter handle on Friday after its meeting with the Federal Government’s team led by the Minister of Labour and Employment, Dr. Chris Ngige.

It tweeted, “The Academic Staff Union of Universities, ASUU, has shifted ground on FG’s offer. The Union insisted that payment of outstanding salaries must not be done as through the IPPIS platform as promised, if strike would be suspended.”

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This is a developing story….

READ: FG offers N65 billion to ASUU, N15 billion revitalization fund to end strike

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Terrorism: Nigeria records 39.1% reduction in deaths – GTI Report

Nigeria has recorded a 39.1% reduction in terror-related deaths, according to the 2020 Global Terrorism Index (GTI) report.

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The 2020 Global Terrorism Index (GTI) report, published annually by the Institute for Economics and Peace (IEP), based in the United States, indicates that terrorism incidents in Nigeria fell by 27% in 2019.

This represents the lowest level of terrorism in Nigeria since 2011, with terrorism deaths in Nigeria reduced to 1,245 last year – a 39.1% dip from the 2,043 deaths recorded in 2018.

READ: Emefiele tells economists to stop “overdramatizing” analysis that can create Panic

Despite the overall decline in terrorism in Nigeria last year, the country is still ranked as the third most impacted country in the world by terrorism, a position it has maintained for five consecutive years since 2015.

According to the latest annual GTI report, Afghanistan and Iraq are respectively the first and second most affected countries by terrorism.

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READ: U.S companies in Nigeria created over 3 million jobs, generate N1.4 trillion revenue- ABC

Highlights of the report

  • The decline in both terrorism incidents and deaths in Nigeria is attributed to a significant reduction in violence by armed Fulani herdsmen.
  • The armed herdsmen are being held accountable for majority of terror-related deaths in 2018, with the latest GTI report showing a 72% decline in fatalities attributed to the herdsmen last year.
  • Terror-related deaths and incidents attributed to Boko Haram in Nigeria increased by 25% and 30% respectively from the prior year.
  • Over the past year, Boko Haram increased attacks on military targets, with deaths rising from 26 in 2018 to 148 in 2019.
  • Globally, deaths from terrorism fell in 2019 to 13,826. This represents a 15% dip from the previous year and the fifth consecutive year of decline since peaking in 2014.
  • Conflict remains the primary driver of terrorism, with over 96% of deaths from terrorism in 2019 occurring in countries that are already in conflict.

READ: U.S Government makes biggest crypto grab, worth $1 billion

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What you should know

  • GTI report is published annually by the Institute for Economics and Peace (IEP) based in the United States.
  • The GTI report, now in its eighth year, ranks 135 countries according to how they are impacted by terrorism. The indicators used by the GTI include the number of terrorist incidents, fatalities, injuries and property damage.
  • Boko Haram, the deadliest terrorist group in Nigeria ranks second in the world, behind the Taliban in Afghanistan.
  • There are 63 countries in 2019 that recorded at least one death from a terrorist attack and 17 countries that recorded over 100 deaths from terrorism. However, only Afghanistan and Nigeria recorded over 1,000 deaths and both countries had significant reductions in the number of people killed in 2019.
  • Globally, the report estimates the economic impact of violence, including military, homicide, incarceration and terrorism to be $14.5 trillion in 2019. This is the equivalent of 10.6% of global GDP. The global economic impact of terrorism alone was estimated to be $26.4 billion last year.
  • There are emerging new threats of politically-induced terrorism in North America, Western Europe, and Oceania, though with minimal fatalities.

READ: Six Nigerians convicted in UAE for funding Boko Haram in 2019

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