Business
Rivers Pensioners Threaten Legal Battle Over Entitlements
The Nigerian Union of Pension (NUP), Rivers State Chapter has said that it will embark on a legal battle against the Rivers State government over the non-payment of their allowances and other entitlements and the non-review of same.
The pensioners claimed that most of them have not been paid their allowances and entitlements for some time now, and that this has brought untold hardship to them.
Chairman of the union in the State, Edward Abibo, said that the union can no longer watch its members suffer untold hardship for non-payment of their allowances and other entitlements as they will not hesitate to take the matter to court for redress.
He said that there is a provision in law that states its clearly that the allowances and entitlements of pensioners be reviewed upward every five years, but that such is not being implemented in Rivers State.
Meanwhile, the presidency has said that it has no power to sack the chairman of the pension Reform Taskforce Team (PRTT), Abdulrasheed Maina over his alleged misappropriation of pension funds.
A presidential source in reaction to the ultimatum issued by the Senate directing the President to sack Mr. Maina, posited that the pension reform chairman is a civil servant and cannot just be sacked by Mr. President.
It further stated that the matter has been referred to the head of service of the federation to follow the due process according to the civil service procedure.
Corlins Walter
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Business
Sugar Tax ‘ll Threaten Manufacturing Sector, Says CPPE
In a statement, the Chief Executive Officer, CPPE, Muda Yusuf, said while public health concerns such as diabetes and cardiovascular diseases deserve attention, imposing an additional sugar-specific tax was economically risky and poorly suited to Nigeria’s current realities of high inflation, weak consumer purchasing power and rising production costs.
According to him, manufacturers in the non-alcoholic beverage segment are already facing heavy fiscal and cost pressures.
“The proposition of a sugar-specific tax is misplaced, economically risky, and weakly supported by empirical evidence, especially when viewed against Nigeria’s prevailing structural and macroeconomic realities.
The CPPE boss noted that retail prices of many non-alcoholic beverages have risen by about 50 per cent over the past two years, even without the introduction of new taxes, further squeezing consumers.
Yusuf further expressed reservation on the effectiveness of sugar taxes in addressing the root causes of non-communicable diseases in Nigeria.
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