General
Contributory Pension Scheme: Pension assets hit N16.76trn in Q3
Contributory Pension Scheme: Pension assets hit N16.76trn in Q3
By nigeriancourier.com on October 10
Mrs. Aisha Dahir-Umar, Director-General, National Pension Commission (PenCom), on Tuesday said that the Pension fund assets under the Contributory Pension Scheme (CPS), has soared to N16.76 trillion at the end of the third quarter of the year.
Dahir-Umar, said this in Kano at the National Pension Commission/Nigeria Employers Consultative Association (NECA) Interactive Session on the Contributory Pension Scheme for the organised private sector.
Represented by the Commissioner Administration, PenCom, Dr Faruk Aminu, she said that the figure was the total fund accruing from pension contributions in the country under the CPS as at the end of third quarter of 2023.
She explained that the pension industry was one of the fastest-growing financial sectors in Nigeria.
According to her, at the end of the third quarter of 2023, the number of RSAs under the CPS stood at 10 million and the size of the pension Asset under Management amounted to N16.76 trillion.
“The commission has continued to take giant strides towards ensuring the smooth implementation of the CPS through the revision of existing regulations and guidelines and the development of new ones.”
The Director-General urged employers to encourage their workers to transfer contributions of the Nigerian Social Insurance Trust Fund (NSITF) to their retirement savings accounts (RSAs).
This, she said, was in compliance with the commission’s responsibility of supervising the transfer, following the enactment of the Pension Reform Act (PRA) 2014.
“The commission is saddled with the responsibility of supervising the transfer of the NSITF contributions of employees into their respective RSAs under the CPS,” Dahir-Umar said.
Dahir-Umar further assured the private sector that the commission would continue to ensure robust social dialogue with NECA in the interest of all stakeholders under the CPS.
She also said the commission would always support NECA to champion programmes that would ensure the successful implementation of the CPS in Nigeria.
Similarly, Adewale Smatt-Oyerinde, Director-General, NECA, lauded the pension regulator on its effort at providing reforms to improve its services.
Smatt-Oyerinde, however, said the deliberation would give room for more improvement and development in the pension sector.
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The leadership of the Correspondents’ Chapel of the Kano State Council of the Nigeria Union of Journalists (NUJ) has marked its one year in office with the public presentation of its stewardship report.
The report, presented by the Chairman of the chapel, Alhaji Murtala Adewale, at the NUJ Press Centre, Kano, highlighted achievements in welfare, professional development and institutional reforms.
According to Adewale, members’ welfare was prioritised, with ₦500,000 direct support to 10 members, ₦8.5 million loan facilities, two Hajj slots, ₦2 million medical intervention for a member, and Ramadan food distribution worth ₦2.5 million.
He said the executive also secured an additional ₦30,000 monthly allowance for members, bringing total direct financial benefits to ₦9.5 million within the year under review.
On professional development, the chairman listed initiatives such as the Tea Break Platform for networking, a four-day retreat in Kaduna, and the Distinguished Awards of Excellence to honour veteran journalists and past leaders.
The chapel also established a Cooperative Society with ₦10 million capital, installed an Olympic-standard table tennis facility, and produced a Government Compendium showcasing Kano State’s development strides.
Office improvements included unlimited 5G internet, DSTV subscription, a cleaner for the premises, procurement of an electric kettle, reactivation of the chapel’s bank account, creation of an official Facebook page, and provision of refreshments for members.
Adewale attributed the achievements to members’ unity and commitment, pledging to consolidate the gains with more programmes to enhance welfare, strengthen ethics and build capacity.
The event was attended by senior journalists, media executives, academics, government representatives and professional bodies, who commended the chapel for institutionalising accountability through the public presentation of its scorecard.
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General
Kano Line Resuscitation Committee Chairman Felicitates Gov. Abba Kabir Yusuf on Third-Year in Office
The Chairman of the Kano Line Resuscitation Committee, Alh. Saidu Abdullahi Shu’aibu, has congratulated the Executive Governor of Kano State, His Excellency, Alh. Abba Kabir Yusuf, on the occasion of his third year anniversary in office.
In a congratulatory message, Alh. Saidu Abdullahi Shuaibu described the administration of Governor Alh. Abba Kabir Yusuf as purposeful, people-oriented and committed to restoring the lost glory of Kano State across various sectors.
He particularly commended the Governor for his unwavering support and commitment toward the revitalization of Kano Line, nothing that the ongoing reforms and investment in the transportation sector have rekindled hope among workers and the people of the state.
According to him, the efforts of the present administration in improving infrastructure, enhancing public transportation, empowering youths, supporting education, healthcare and promoting economic growth have continued to earn the confidence and support of the people in line with the “Kano First Agenda”.
Alh. Saidu Abdullahi Shuaibu further prayed for Almaighty Allah continued guidance, wisdom and protection upon Governor Alh. Abba Kabir Yusuf as he continues to steer the affairs of Kano State toward greater development and prosperity.
He reaffirmed the commitment of the Kano Line Resuscitation Committee to support the administration’s vision of transforming the transportation sector for the benefit of the people of Kano State.
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The Civil Society – Scaling Up Nutrition in Nigeria (CS-SUNN) has organized a two-day capacity-building workshop for stakeholders in Kano State on the use of the National Nutrition Budget Tracking System (NNBTS).
The training, held at Tahir Guest Palace, brought together key actors in the health and nutrition sector to enhance accountability and strengthen nutrition financing across the state.
During a presentation titled “Overview of Nutrition Financing in Nigeria: State Trend Analysis Review”, CS-SUNN official Jibrin Okpaji stressed that government interventions at all levels are vital for tackling malnutrition and its associated challenges.
Okpaji noted that sustained investment in nutrition is essential for improving public health and reducing preventable deaths among vulnerable populations.
He emphasized the need for stakeholders to acquire the technical expertise to effectively use the NNBTS, which would bolster advocacy for increased budgetary allocations and promote transparency in resource management.
Abdulrahman Abdullahi, Secretary of CS-SUNN Katsina State Chapter, described the NNBTS platform as a key tool for evidence-based planning, monitoring, and accountability in nutrition programs.
The training featured live demonstrations of the portal, practical exercises on data entry and reporting, and the generation of scorecards, analytical reports, and policy briefs using sample data.
Participants also developed state-level implementation frameworks and action plans for the effective adoption of the system.
In his goodwill message, CS-SUNN Kano Coordinator Salman Mohammad urged participants to fully utilize the training to achieve its objectives.
Stakeholders described the workshop as timely and crucial for strengthening nutrition governance and improving coordination among actors in Nigeria’s nutrition ecosystem under initiatives led by CS-SUNN and its partners.
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