Business
Gratuity: NIPOST Pensioners Lament Non-Payment
Pensioners of the Nigeria
Postal Service (NIPOST) have lamented bitterly ever the three fear gratuities and other entitlements owed them by the Federal Government.
The chairman NIPOST branch of the Nigeria Union of Pensioners, Comrade Steven Shokden said this Tuesday in a monitored news in Port Harcourt.
He said both their arrears and all the benefits of retirement are yet to be given them by the federal government and its agencies.
Shokden, noted that they were yet to be clarified whether or not the money had been paid to the Budget office of the federation as the federal government promised sometime ago.
He recalled that even those that retired earlier than three fears, are not fully settled by the concerned authority wondering if retirement was a crime.
The NIPOST Pension boss, also hinted that some of his members that retired before 2011 were paid upto 79 per cent of their entitlements, while others only went home with 25 percent.
According to him, there are some pensioners who passed on 18 years ago, saying that their respective families fate are still hanging in the balance.
He has called on the Budget Office to make the cash available to their underwriter, the Niger Insurance Plc in order to enable them pay the NIPOST Pension Board.
He admitted that the NIPOST Board was aware of the money owed by the Federal Government, while calling on his members to continue to exercise patient.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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