News
187 RSA Holders Received N3.1bn For Mortgage – PenCom
- As Commission announce plans to establish academy
The National Pension Commission says that a total of 187 Retirement Savings Account owners received 25 per cent of their contributions for mortgage which amounted to N3.1 billion at the end of July.
Daily Trust reports that PenCom in September last year approved the usage of 25 per cent RSA balance for mortgage by contributors.
Director General of the Commission Mrs. Aisha Dahir-Umar stated this yesterday a capacity building workshop for journalists in Abuja tagged “Transforming Service Delivery in the Pension Industry: Strategies for Improving Efficiency and Customer Satisfaction,”
The DG who was represented by the head, corporate communications department, Mr. Abdulqadir Dahiru noted that pension funds have been on the rise and now stands at N16.76 trillion as a result of concrete regulatory approach and supervision.
“PenCom’s proactive regulatory approach has strengthened the oversight and governance of pension funds, promoting transparency, accountability and safeguarding the interests of pension contributors.
“Consequently, Pension assets have risen by N1.77 trillion in the first half of 2023, from N14.99 trillion in December 2022 to N16.76 trillion at the end of June 2023. Membership also increased by 146,920 new contributors, from 9.86 members as of the end of 2022 to over 10 million members as of June 2023.
The CPS has ensured that public and private sector workers can build retirement savings throughout their working lives, fostering financial security during their golden years,”
Speaking further, he said as part of capacity building efforts, the Commission is planning to establish a pension academy that will train stakeholders and other relevant partners on the activities and programmes of the sector.
Also in a presentation, the Chief Executive Officer Pension Fund Operators Association of Nigeria (PenOP), Oguche Aguda, in a paper titled “Improving Accessibility and Service Delivery in RSA Mortgage Financing” noted that Nigeria’s housing deficit grew from 7 million in 1991 to 28 million in 2023 which has made it difficult for government alone to cover the housing gap.
Oguche who was represented by the Akinbola Akintola Research & Investment Lead at PenoP, further stated that the with the new mortgage policy of PenCom, the country will experience a significant drop in the housing deficit in the coming years.
Credit: Daily Trust
Benson Upah, spokesperson for the Nigeria Labour Congress (NLC), has cautioned that Nigerians might eventually face petrol prices of N5,000 per litre.
In an interview with Weekend Trust, Upah criticized the recent increase in fuel pump prices and argued that it contradicts the agreement previously made between the NLC and President Bola Tinubu’s administration.
He asserted that the Federal Government’s claims of restoring the fuel subsidy are untrue.
Upah remarked, “The subsidy was never reinstated as they have stated. So, what justifies the rise in pump prices from N650 to N1,500 or even N2,000?
“This situation suggests that we might not have seen the worst yet. There is a possibility that fuel prices could reach N5,000 per litre. We hope it doesn’t come to that, but if it does, it will be up to Nigerians to make the decision.”
The Nigerian Education Loan Fund (NELFUND) has announced the receipt of a two million Naira bank draft from Adegboyega Awomolo, SAN, a former student loan beneficiary.
This information was disclosed in a statement by Monalisa Dike from the Corporate Communications Department of NELFUND on Friday in Abuja.
Dike noted that Awomolo had received the loan during his undergraduate studies at the University of Ife (now Obafemi Awolowo University) from 1975 to 1977.
She mentioned that Awomolo had fully repaid the loan, showing his strong commitment to the country.
“The original loan amount was N1,000 for two academic sessions, which played a crucial role in his completion of the law degree.
“Although Awomolo had attempted to repay the loan several times over the years, he was only able to settle it now.
“In his letter to NELFUND’s Managing Director, Mr. Akintunde Sawyerr, Awomolo expressed his appreciation for the student loan opportunity provided by the Nigerian government,” Dike said.
She added that Awomolo praised the transparency and accountability NELFUND has shown in managing student loans.
Dike emphasized that Awomolo’s repayment highlights the enduring impact of President Bola Tinubu’s initiative and NELFUND’s continued importance in supporting Nigerian students.
She also mentioned that the repaid funds will be used to support the education of current students in need of loans.
The Niger Delta Development Commission (NDDC) has issued a warning to the public about scammers pretending to represent the NDDC Youth Internship Scheme.
The NDDC also noted that registration for the scheme ended on August 31, 2024.
This information was released in a statement on Friday by Seledi Thompson-Wakama, Director of Corporate Affairs at the commission, and shared with DAILY POST.
The statement reads, in part: “We have received reports of individuals receiving unsolicited messages claiming they have been selected for the NDDC Internship Scheme, which includes requests for personal information and an acceptance fee.
“The NDDC does not charge any fees for placing qualified youths in its internship programme. We want to make it clear that these fraudulent selection messages are not affiliated with the NDDC.
“Any official communication from us will only come through our verified websites and social media channels. If you receive a message like this, please ignore it and report it to the relevant authorities. Your safety and privacy are our top priorities.
“For genuine inquiries about our empowerment programs, please contact us directly through our official channels.”
-
Sports6 months agoAnthony Joshua to face winner of Tyson Fury vs Oleksandr Usyk
-
News3 years agoAvram Grant: Former Chelsea Coach Accused Of Sexual Harassment
-
News5 months agoNaira appreciates to N1,000 per dollar at FX black market
-
News4 months agoKing Charles III returns to public duties after cancer treatment
-
News1 year agoTinubu Appoints Akume SGF, Confirms Gbajabiamila CoS
-
News1 year agoSenate Presidency: North-Central Lawmakers Reject APC Consensus List
-
Politics2 years agoTinubu Campaign Group DG, Abdulmumin Jibrin, Dumps APC
-
News1 year agoNBC Has No Powers to Fine Broadcast Stations, Court Rules