Business
Surveyors Task RSG On Pension Fund
The Nigerian In stitution of Estate Surveyors and Valuers (NIESV), Rivers State branch, has urged the State government to ensure that the pension fund is put to use for more meaningful development in form of mortgage, rather letting the fund to lie idle.
This reaction follows the enactment and enforcement of the Rivers State compulsory contributory Pension Fund Law for all Public Servants in Rivers State, which is expected to take effect from this July 2012.
Speaking in an interview with The Tide in Port Harcourt, the Chairman NIESV, Rivers State, Mr. Emmanuel Wike stated that experience had shown that funds that were generated through the pension, like that of the federal government was either left idle in the bank or diverted to programmes that benefited few individuals.
He said that such funds, which were generated through deductions from workers’ salaries could be put to more meaningful venture like mortgage, so as to provide funds for property development that will make workers own houses.
According to him the issue of funds for mortgage have been a problem in housing development, especially in Rivers State where there is high demand for housing by public servants, many of whom retire without owing their own houses.
Wike therefore urged the state government to take advantage of the contributory pension funds to provide adequate mortgage for development of housing in the state.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.