Business
NECA Urges Pension Reform Act Implementation
The Nigeria Employ
ers Consultative Association (NECA), has called for the implementation of the Pension Reform Act 2014.
Speaking to newsmen in Lagos, on Friday the President of NECA, Mr Larry Ettah, said the implementation of the Pension Reform Act 2014, would go a long way to promote coverage and compliance with the new contributory pension rate by employees in the country.
Ettah said the implementation would also ensure the nipping in the bud of the perennial issue of pension related fraud in the country.
He said employers both in the public and private sectors had raised the issue of difficulty to effect the implementation of the enhanced new rate of 10 per cent by employers on account of the fact that the increment was not budgeted for at the beinginning of the year, stressing that NECA has taken up the issue on behalf of the organized private sector with the National Pension Commission (PENCOM).
The NECA President who was the former Managing Director of United Nigeria Africa Company Limited (UNAC) said PENCOM has demonstrated how regulatory institutions could engage stakeholders in the promotion of socio-economic development of the country.
He said NECA intervention has shown the benefits of meaningful advocacy and contractive dialogue with government institutions.
He praised the management of PENCOM for their forbearance and determination to ensure the effective implementation of the Pension Reform Act with the inputs from public and private sectors stakeholders in the country.
Meanwhile, NECA is a platform for private sector employers to interact with the government labour, communities and other relevant institutions in and outside Nigeria for the purpose of promoting harmonious business environment that would engender productivity and prosperity in the country.
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.
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