News
Pension Funds: The Untold Story
The sharp disagreement in Enugu state now over the pension scheme funds has raised fundamental issues as to the exact percentage of a civil servant’s salary that should be deducted to fund the national contributory pension scheme.
In a bill to the state House of Assembly for the implementation of the scheme, the state government wants a 50/50 contribution with the government, a proposal that has kicked up dust among the stakeholders, especially labour unions.
Commenting on the matter during a public debate on the bill, Chudi Onah, representing the Trade Union Congress, said his union would not want the bill to be passed as presently constituted where the workers are to pay 50/50 pensions contributions with the state government, and insisted that government should pay 18% and workers five per cent.
In the past, an average retired civil servant literally wailed over the non-payment of his pension and gratuities. There were confirmed reports that some retired workers even died before their entitlements could be paid.
Apparently worried by public outcry, the Olusegun Obasanjo administration established the National Pension Commission (PENCO), with an Act by the erstwhile National Assembly, in order to give legal teeth to the commission. This was greeted with applause by the general public, especially the retirees.
Indeed, the contributions of Nigerian workers and employers to the contributory pension scheme now stand at over N84 billion, according to Dr Kabir Ahmed, Director-General of the pension commission.
Delivering a lecture entitled “Poverty Reduction, Social Security and Pensions Reform in Nigeria,” Dr Ahmed said the figure was the accumulated contributions as at now, and expressed happiness that with the pension scheme, the country has been able to build a pool of long-term financial resources.
Said he: “Pension funds play a key role in mobilising long-term funds which have contributed significantly in providing the base for capital formation investment that could spur economic growth in Nigeria,” He, however, noted that the resources (funds) so far mobilised were still in search of attractive investment opportunities.
But it is rather unfortunate that some states (such as Enugu) are yet to implement the pension scheme in spite of the awareness campaigns mounted by the federal authorities, thus hanging the fate of their retired staff in the balance.
This is said, to say the least! Worse still, a section of the private sector had also reportedly refused to implement the National Pension Scheme, for some inexplicable reasons, an attitude that is giving concern to the authorities of the commission, in view of the anticipated plights of the retired staff of such firms.
It is, therefore, imperative to ask the federal government to wade into the issue and prevail on such defaulting state governments and firms to implement the pension scheme, in order to lay a good foundation for their retired staff.
Agreed, there had been fears over the ‘safety’ of the funds so far contributed to the scheme. But the provisions of the Pension Act, squarely allay such fears, especially the various levels of risk involved in the management of the contributed funds.
Again, the federal authorities should rise to the occasion and direct some of the contributors (state governments) to remit promptly, their contributions to the contributory pension scheme. That way, the future of the retired staff would be assured.
Suffice it to say that one such way to implement the National Pension Scheme is for the National Assembly to step into the matter. This, it could do, by directing the committee concerned to work with the management of the National Pensions Commission.
That way, the committee would be able to identify the defaulting state governments, as well as a section of the private sector, and thereafter, roll out sanctions against such recalcitrant states and firms.
The future of the Nigerian retired worker must be protected and assured, no matter whose ox is gored. Yes, time has come when a retired worker should smile home rather than cry home. The contributions by employers of labour to the pension scheme, appears to be the only sure way.
All said, but when shall we stop to weep for the nation’s retirees for not getting their entitlements years after retirement from active service. Their plight must end one day!
The Rivers State chapter of the All Progressives Congress Christian Leaders Forum has expressed strong confidence in the capacity of All Progressives Congress (All Progressives Congress) candidates in the state to deliver effective governance if elected into office in the coming elections.
The State Coordinator of the forum, Archbishop Lucky Aroh, made this known during a breakfast and thanksgiving meeting held in Port Harcourt, where leaders gathered to pray for the stability of the party and the safety of its candidates ahead of the 2027 general elections.According to him, the meeting was convened to seek divine intervention for peace, unity, and security among APC candidates across Rivers State.
“Today we are praying for APC stability in Rivers State and the security of our candidates that have been elected to contest the 2027 elections. It is a breakfast meeting,” Aroh said.
He further expressed optimism that the party’s candidates would not disappoint the people if entrusted with leadership responsibilities.
“They will not fail when elected into office. We are here as fathers of the land to let them know, and I must tell you the truth that these are the authentic people that will do well in Rivers State,” he added.
Speaking earlier, the National Chairman of the forum, Professor Olanrewaju Abraham, commended the Rivers State chapter for organizing the programme, noting that the national body of the forum believes strongly in the power of prayer.
He stated that political leadership provides an opportunity to influence society positively, including advancing moral and spiritual values, while expressing confidence that APC candidates at all levels would emerge victorious in the upcoming elections.
Also speaking, the Rivers State Women Leader of the APC, Hon. Darling Amadi, praised the forum for its commitment to prayers for peace, stability, and the protection of party candidates.
Represented by the Deputy Women Leader of the party in the state, she described the initiative as commendable and urged other political and support groups within the party to emulate the gesture in promoting unity and stability.
By: John Bibor, Menebe Emmanuel & Fortune Paibi
Prominent businessman and philanthropist, Elder Anthony Osagwe-Ogo, was celebrated in grand style as he marked his 70th birthday anniversary, with distinguished Nigerians, business leaders, and golf enthusiasts gathering to honour his remarkable contributions to society.
The colourful celebration took place at the Port Harcourt Golf Club, where friends, associates, and well-wishers converged to pay tribute to the revered elder statesman.
Chairman of the occasion, High Chief (Dr.) Ikenna Okafor, described the celebrant as a detribalised Nigerian whose generosity, humility, and commitment to humanity have earned him admiration across different communities and backgrounds.
According to Dr. Okafor, Pa Osagwe-Ogo’s impact on society and the development of his community remains unparalleled. He noted that members of the golfing community are proud to be associated with a father figure who consistently promotes the welfare and well-being of those around him.
He further stated that the history and growth of the Port Harcourt Golf Club cannot be told without acknowledging the significant role played by the celebrant, whose wisdom, encouragement, and leadership have helped sustain the club over the years.
“We are here to celebrate a man who has impacted humanity positively, a peace-loving individual and an epitome of hope for the younger generation. We pray to emulate his virtues. Today, we celebrate a bridge-builder, a trailblazer, and an iconic leader whose life continues to inspire many,” Dr. Okafor said.
He expressed delight at the large turnout of guests from various walks of life, describing it as a testament to the respect and affection Pa Osagwe-Ogo commands within and beyond Rivers State.
In his response, the celebrant, Pa Anthony Osagwe-Ogo, expressed profound gratitude to God for preserving his life and granting him the privilege of attaining the milestone age of 70.
He also thanked members of the Port Harcourt Golf Club, family members, friends, and associates for identifying with him during the celebration and for their unwavering support over the years.
The event featured the cutting of the birthday cake, presentation of awards to deserving members of the club, goodwill messages, and moments of celebration among guests.
The ceremony was attended by notable personalities from the business community, the golfing fraternity, and other sectors, all of whom joined in celebrating the life and legacy of the respected elder statesman.
Rivers State Governor, Sir Siminalayi Fubara, and the Permanent Secretary of the Rivers State Ministry of Information and Communications, Dr. Honour Kuru Sirawoo, have been honoured with awards of recognition in connection with the 2026 Democracy Day celebrations held in Port Harcourt.
The awards, which formed part of activities marking Nigeria’s Democracy Day on June 12, were formally presented on Tuesday at the Ministry of Information and Communications in Port Harcourt.
Presenting the awards was Hon. Abdul Hameed Oladipupo Alli, popularly known as “Mr. Nigeria,” Publisher of Asiwaju Trumpet Magazine and Achievers World International Magazine.
Governor Fubara was recognised for his efforts in sustaining peace, stability, and a conducive political atmospherJohn Bibor / Menebe Emmanuel / Fortune Paibie in Rivers State. The organisers noted that his administration has fostered harmony and strengthened civic participation across the state.
Dr. Sirawoo, on the other hand, was honoured for his exemplary administrative leadership and significant contributions to effective information management within the Ministry of Information and Communications.
Representing Dr. Sirawoo at the presentation ceremony, Dr. Christian Davies received the award on his behalf and expressed gratitude for the recognition. He described the honour as a reflection of Dr. Sirawoo’s unwavering commitment to professionalism, excellence, and dedicated public service.
Dr. Davies assured the organisers that the award would be formally conveyed to the Permanent Secretary.
The event also featured the presentation of commemorative publications highlighting major governance and civic milestones in Rivers State, including Easter celebrations, Workers’ Day activities, the Governor’s third anniversary in office, and Democracy Day programmes.
Organisers of the awards commended the Rivers State administration for what they described as sustained peace, political stability, and improved civic engagement, noting that these achievements have contributed significantly to the state’s continued development.
By: Jessica Sambol
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