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Pension Assets Rise By 3.91% In 7 Months

Pension assets rise by 3.91% in 7 months

The National Pension Commission has disclosed that the pension fund assets of the Contributory Pension Scheme (CPS) grew by 3.91 percent in the first seven months of 2021.

PenCom disclosed this in its July 2021 monthly report obtained from its website on Friday.

According to the report, pension assets increased from N12.29 trillion to N12.78 trillion between January and July. This equates to an extra N481.4 million.

Also, the report shows the number of Retirement Savings Account (RSA) holders rose by 17.5 percent to 9.40 million in July from 9.23million in January

The report also revealed the investment interest for Pension Fund Administrators (PFA).

PFAs invested N8.20 trillion of the funds in federal government securities in July, up 1.16 percent from N8.10 trillion in January.

While N2.10 trillion was pumped into local money market assets, a 27.9 percent increase from N1.64 trillion in January.

Other PFA investments include corporate debt instruments, which received N957.7 billion, a 14.5 percent, increase from N835.7 billion in January.

While PFA’s mutual fund investment decreased 28.2 percent from N162.02 billion in January to N116.25 billion in July.

Meanwhile, the National Pension Commission (PenCom) has commenced online verification and enrollment for its 2021 retirees and prospective retirees of Federal Government Treasury-Funded Ministries, Departments and Agencies (MDAs).

In a statement issued by the Head, Corporate Communications of PenCom, Mr. Peter Aghahowa, the application which started on September 1, 2021, will verify employees of federal government treasury-funded MDAs who retired between January and August.

He however, noted that employees of the federal government treasury-funded MDAs who were due to retire from September and those who missed the enrolment exercise in previous years would also be included.

Aghahowa listed the two options for the enrollment exercise to include: self-assisted through pension desk officers or Pension Fund Administrators (PFAs)-assisted.

He also said that the affected retirees must complete their verification and enrollment with their respective PFAs on or before Oct. 29.

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Osun Transport Masterplan to Be Ready Soon-Governor Adeleke

Governor Ademola Adeleke has announced his administration’s plan to release to the public the Osun State Transport Master Plan to facilitate integrated connectivity for the Osun economy.

The Governor made the announcement on Thursday while commissioning the Osun State Computerised Vehicle Inspection Testing Center at Osogbo.

The Governor who narrated a series of ongoing reforms being delivered by his government said “The test center right here is the first of its kind among other interventions of our administration to reposition the State’s Transportation sector

According to the State Governor, “Our government is pursuing reforms across the transport sector. We ensure that Commercial Motorcycle operators across the State are registered under a database with a rider’s jacket and identification card for safety purposes. Mini-buses, popularly known as (Korope) have also been registered and numbered for easy identification and security.

“We have introduced single ticketing to all commercial drivers in the State through the Osun State Transport Management System (OSTMS) to guide against leakage of revenue.

“It is equally my pleasure to inform the public that our administration is working on a Transportation Master plan for Osun state. We are focused on a multimodal plan that will integrate all modes of transportation within the state. It will lay our objectives and strategic agenda for land, air, and water transportation.

“The plan is to regulate, plan, and develop an efficient and well-integrated transport system that will serve the public interest, enhance mobility, and deliver a secure and environmentally friendly Public Transportation System in different areas across Osun.

“The plan is central to our five-point agenda as it focuses on connectivity within and outside the state. Osun is centrally located in the heart of Yorubaland.

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Adeleke speaks on collapse of OAU amphitheatre

Governor Ademola Adeleke of Osun has promised to pay the medical bills of students injured in the Obafemi Awolowo University(OAU), Ile-Ife, Amphitheatre roof collapse.

The affected students are receiving treatment at the University Health Centre and the Teaching Hospital Complex (OAUTHC), Ile-Ife.

Adeleke, who was represented by the Commissioner for Education, Dipo Eluwole, sympathised with the management of the University and parents of the affected students on the unfortunate incident.

This is contained in a statement issued by the Public Relations Officer of the University, Mr Abiodun Olarewaju, in Ile-Ife on Saturday.

The commissioner was conducted round the scene of the incident by the Vice-Chancellor, Prof. Simeon Bamire, and other principal officers of the University, and visited the two health facilities where the students are receiving treatment.

He expressed happiness that the affected students are responding to the treatment.

Eluwole lauded the university management for its quick response to the emergency and prompt medical attention given to the students.

Speaking to the four students being treated at the University Health and Medical Centre, the commissioner commended their bravery and wished them quick recovery.

At the Neurological ward of the University Teaching Hospital where two other students are being treated, Eluwole pleaded with their parents to see what happened as a natural occurrence.

He, thereafter, informed the vice chancellor that the Gov. Adeleke pledged to bankroll all medical expenses that may be incurred in the course of the treatment of the students.

Responding, the vice-chancellor thanked the governor for being so kind and loving, stressing that his fatherly role to the students and the good people of Osun is commendable.

A torrential rain on Thursday morning, accompanied with a whirlwind affected a part of the ceiling of the Amphitheatre as it fell off and injured some students.

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Woman burns stepchildren’s hands for eating rice prepared for their father

The Adamawa State Police Command has arrested one Rachel Geoffrey, a 23-year-old woman and resident of Federal Housing Estate, Girei, for allegedly setting fire to the hands of her stepchildren.

The children, Genesis Geoffrey, seven years old: and Idadai Geoffrey, three years old, now have their affected hands bandaged.

The Police Public Relations Officer in the state, SP Suleiman Nguroje, said in a statement that Rachel intentionally inflicted severe physical injuries on her stepchildren.

In the statement released Saturday, the police image maker said the incident occurred on Tuesday, May 14.

He said the children suffered several calculated acts of cruelty and human rights violations from their stepmother.

He explained that the children faced the wrath of the woman over a plate of rice she cooked and kept for her husband.

“The kids, because of hunger, ate their father’s food and that angered her. She then tied their hands with a handkerchief and set fire to them, resulting in the severe injuries they sustained,” Nguroje explained.

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