Business
Pensioners Demand Payment Of Entitlements
Some federal civil ser
vice pensioners in Lagos last Saturday called on the Federal Government to find a lasting solution to the delay and non-payment of their gratuity, pensions and other entitlements.
The pensioners, who spoke to newsmen described post retirement life as difficult and stressful.
According to them, most of the agencies created by the government to oversee pension affairs only give attention to bureaucratic issues rather than concentrating on paying the entitlements of retirees.
Mr Emeka Alicha, who retired in 2006, said that all his effort to get his pension since retirement had been futile.
“Since I retired in 2006 I have been going up and down struggling for my pension but all efforts have been in vain as I have not been paid a dime after my gratuity.
“I have visited different offices in Lagos and Abuja without any positive result,’’ Alicha lamented.
The pensioner said that he had taken to doing menial jobs such as security to survive.
Alicha’s colleague, Mr John Emerokwem, who retired two years earlier, said that after receiving his gratuity and pension for a while his name was removed from the pay roll.
”I received gratuity and I was receiving my monthly pension until 2010 when the peanut stopped coming.
“I am not happy. If not for help from my children I would have died of hunger,’’ Emerokwem said.
Ms Cecilia Pereira, a 2002 retiree from the Federal Ministry of Police Affairs, described her experience as unpalatable.
“The experience has been so stressful. Our effort in getting the peanut is more than the token we are asking for,’’ Pereira said.
According to her, the late payment or non-payment had brought her embarrassment in paying for her electricity and other utility services.
Another 1997 retiree from the Federal Ministry of Agriculture, who gave his name simply as Mr O. Oseni, said that since retirement he had not received both gratuity and pension.
”Since I retired, my gratuity has not been paid up until now. We have been coming and going without any fruit,’’ he said.
The pensioner, however, expressed optimism that the newly established Pension Transitional Arrangement Directorate would bring the plight of retirees to an end.
Also speaking, Mr Benson Ayoko, a 1983 retiree, said that the situation had brought serious embarrassment to the nation.
“All irregularities in pension payment are a serious embarrassment to our nation.
“I stopped being paid since July, 2010 and there is no justification for removing my name from the payroll,’’ he said.
Mr Peter Ohai, a 1999 retiree from the Federal Ministry of Information said: “I can’t still understand why our money should be held on to without paying us, it’s sad.
Reacting to the development, Mr Sanni Olalekan, the Lagos State Chairman of Federal Civil Service Pensioners under the aegis of the Nigeria Union of Pensioners, decried the manner pension fund was managed in the country.
Olelekan pleaded with pensioners not to be frustrated by government’s series of screening of pensioners but should make themselves available for such exercises.
The chairman said the creation of PTAD in 2013 by the government showed government’s commitment to ending all crises related to pension administration in the country.
Business
SMEs Dev: Firms Launch N100m Loan Scheme
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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