The Chairman of the Senate Committee on Establishment and Public Service, Ibrahim Shekarau, has claimed that the federal government currently owes retirees over N400 billion in accrued pension.
Shekarau said this at the second annual National Assembly retreat with the Pension Funds Operators Association of Nigeria (PenOp) held in Uyo, Akwa-Ibom State late on Monday.
He said the committee would work with the federal government to offset all the arrears, “even if it would be the only achievement that the ninth National Assembly would be remembered for.
“Government owes the accrued pension funds of over N400 billion,” he said.
He said President Muhammadu Buhari “might not be aware of the huge debt” but pledged to make him address the situation. The committee has written a seriously worded letter to the Senate President, insisting that the Senate should take this up with Mr President to make sure this matter is addressed, otherwise it is one step forward, 10 steps backwards.” Shekarau said his committee would meet with key relevant government officials and agencies and pension operators.
He also decried the indebtedness of state and local governments to their retirees which he said is due to “lack of political will”. To address this, he said, “We will initiate appropriate amendments. This is very important; otherwise, the pensioners will be suffering.”In her address, the President of PenOp, Aderonke Adedeji, called for a working pension system to take the hand of corruption off pension funds.“So, it is evident that a well-functioning, transparent and efficient pension system is critical for all groups of Nigerians and our nation at large. A well-functioning pension industry will reduce the menace of corruption; because individuals will be assured that they have funds they can fall back on during their retirement years.
He also decried the indebtedness of state and local governments to their retirees which he said is due to “lack of political will”.
To address this, he said, “We will initiate appropriate amendments. This is very important; otherwise, the pensioners will be suffering.”
In her address, the President of PenOp, Aderonke Adedeji, called for a working pension system to take the hand of corruption off pension funds.
“So, it is evident that a well-functioning, transparent and efficient pension system is critical for all groups of Nigerians and our nation at large. A well-functioning pension industry will reduce the menace of corruption; because individuals will be assured that they have funds they can fall back on during their retirement years.
Royal Split: Prince Harry expresses great sadness
Britain’s Prince Harry expressed “great sadness” on Sunday at the way he and his wife Meghan had to give up their royal titles as part of separation settlement with the Queen.
“It brings me great sadness that it has come to this,” Harry said in his first remarks on Saturday’s historic agreement, made during a public address and posted on the couple’s Instagram account.
“Our hope was to continue serving the Queen, the commonwealth, and my military associations, but without public funding. Unfortunately, that wasn’t possible,” he told supporters of his Africa-based charity for youngsters with HIV at an event in London.
The settlement stripped Harry and Meghan of public funding and required them to repay £2.4 million ($3.1 million) of taxpayer’s money spent on renovating their Frogmore Cottage home near Windsor Castle.
Harry was also forced to give up the military titles and patronages he was awarded after serving two tours in Afghanistan with the British Army.
But Harry said he felt “utmost respect” for Queen Elizabeth II.
“It has been our privilege to serve you, and we will continue to lead a life of service.”
“I will always have the utmost respect for my grandmother, my commander in chief, and I am incredibly grateful to her and the rest of my family, for the support they have shown Meghan and me over the last few months.”
He also hinted at some trepidation at starting a new life away from his royal home. He and Meghan will spend some time in Canada before deciding whether to move to the United States or another country.
“We are taking a leap of faith — thank you for giving me the courage to take this next step,” he said.
President Buhari reveals why he joined Politics
President Buhari finally reveals why he joined politics after his release from prison President Muhammadu Buhari has revealed why he joined partisan politics after he was released from prison over thirty years ago. He said he joined politics because of his integrity.
Will Smith and Martins Lawrence named Honorary police officers by Miami City Police Force
Hollywood actors, Will Smith and Martin Lawrence, ahead of the release of the new ‘Bad Boys for Life’ movie, were on Sunday honored by the Miami City Police Force for their outstanding contribution to the growth of the entertainment industry in Miami.
Smith has lived and worked in Miami for almost half a century, and the Bad Boys movie Franchise has always been shot in Miami, hence the Miami city police force thought it wise to celebrate and honor Will Smith and Martin Lawrence, and handed them ‘keys to the city’ plaque and Miami police force badges while also granting them honorary police officer titles, roles they both played in the Bad Boys film.
Smith took to Instagram to celebrate the achievement .
“Been rockin’ with Miami for over 25 years and today me and @martinlawrence got the keys to the city and were officially made honorary Miami Police officers!! Big thanx @francisxsuarez and @pitbull (happy BDay) for setting us up! #badboysforlife,” the 51-year-old actor shared on Instagram alongside a series of photos and videos of the two men receiving their keys.
In one of the videos, the official who presented Smith, 51, and Lawrence, 54, with the honor also announced that Jan. 12 would be celebrated as the “Bad Boys for Life” day in the city of Miami, which was met by cheers from the crowd.