The Rivers State Head of Service, Barrister Samuel LongJohn, has called on civil servants in the state to imbibe the culture of co-operative investment to enhance their economic base. The Head of Service, gave the charge last Wednesday during a paper presented at the send-off ceremony for retirees of The Tide chapel of the Nigeria Union of Journalists (NUJ).
The Head of Service, who was represented by the Permanent Secretary, Establishment, Training and Pensions Bureau, Office of the Head of Service, Mr Asoelu Gayamos Ogo, said participating in registered co-operative societies with annual turnover will make them access loan facilities with low interest rates to cater for their economic needs.
According to the HOS, cooperative activities do not only provide incentives for small-scale business operation but afford potential retirees additional income that can sustain the family at retirement. Speaking on the topic, “Life Before and After Retirement’ the Head of Service said retirees should not spend their pension and gratuity on faulty investments but channel such resources to medium-scale business.
He emphasised that “planning for retirement should commence immediately one is gainfully employed” and recommended that pre-retirement training or workshop and counseling should be made mandatory in the various MDAs to sensitize retiring officers on the implications of retirement and the need to prepare for it.
The Regional Manager of AIICO Pension Managers of the Contributory Pension Scheme in Rivers State, Mr Godwin Igbanoi who also delivered a lecture at the event, explained that the new pension regime would be beneficial to civil servants and assured that the pension fund would be properly managed for the beneficiaries.
In her presentation, the representative of the Federal Mortgage Bank of Nigeria (FMBN), Mrs Nkirika Andrew, said the Federal Housing Fund was a realistic policy as beneficiaries would access their funds on retirement. Mrs Andrew, who also spoke on the topic “Civil Servants and Housing Challenges” also pointed out that there was provision for loans for contributors of the fund to take loans to build personal houses, if they can present property with Certificate of Occupancy as collaterals.
In his remark, Ms Kadilo Brown, Permanent Secretary, Ministry of Commerce and Industry, thanked The Tide NUJ chapter and the management of The Tide for honouring the retirees. The Permanent Secretary who was represented by the Director, Small and Medium Enterprises, SMEs in the ministry, Mr J. Akara, also urged civil servants to invest wisely by embracing small scale enterprises to secure their life after retirement.

Taneh Beemene