Business
Pension: ‘LASG Pays N80bn Into RSA In 10 Years’
Lagos State Government (LASG) says it has paid more than N80 billion into the Retirement Savings Accounts (RSA) of its retirees since the commencement of the Contributory Pension Scheme (CPS) in 2007.
The Lagos State Pension Commission (LASPEC) said this in a statement in Lagos by its Head of Public Affairs Unit, Mrs Basirat Lawal, last Thursday.
“As at September, 2017, LASG paid more than N80 billion into the Retirement Savings Accounts (RSA) of its retirees since the commencement of the Contributory Pension Scheme (CPS) in 2007,’’ she said.
The commission said the state government had also disbursed N710 million as pension to 153 retirees in October and paid accrued pension rights of N31.822 billion to 7,677 retirees from August 2015 till date.
“This is aside the mandatory 15 per cent contributions which the government remits monthly into the Retirement Savings Account (RSA) of the retirees.”
Lawal quoted the Director-General of LASPEC, Mrs Folashade Onanuga, as saying that Ambode’s administration would continue to boost the socio-economic well-being of citizens, in spite the over N200 billion pension liabilities on the state.
She said that Onanuga, however, advised pensioners to be wary of pension fraudsters, take very good care of their health and desist from spending on frivolities.
“Retirees must always collect their statement of accounts from their Pension Fund Administrators (PFAs) for monitoring.
“There is also need to create Oracle HR application field for Additional Voluntary Contributions (AVC).
“The funds are invested and can be accessed immediately by a retiree on retirement.’’
Onanuga said more innovations had been introduced into the state pension’s Information Communication Technology (ICT) infrastructure to ensure that pension operations were flawless and less cumbersome.
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
PHCCIMA Leadership Hails Rivers Commerce Commissioner for Boosting Business Ties …..Urges Deeper Collaboration to Ignite Economic Growth
