PENSION Archives - KOKOMANSION MEDIA

Guaranty Trust Holding Company Plc (GTCO Plc) acquires the Mutual Fund and Pension Subsidiaries of Investment One

February 8, 2022February 8, 2022Ayo Olowo

Guaranty Trust Holding Company Plc (GTCO Plc or the Group) (GTCOplc.com), a diversified financial services provider, today notified the Nigerian Exchange Group (NGX) and the investing public that GTCO Plc has concluded the acquisition of the 100% equity stake in Investment One Pension Managers Limited (IOPM) and Investment One Funds Management Limited (IOFM) (together, the Companies) held by […]

FG approves increment of pension to reflect national minimum wage

April 30, 2021April 30, 2021News Agency

President Muhammadu Buhari has approved the payment of the consequential adjustment to pensioners under the Defined Benefit Scheme (DBS) in line with the minimum wage approved in 2019. Chioma Ejikeme, the Executive Secretary, Pension Transitional Arrangement Directorate (PTAD), disclosed this at a news conference on Friday in Abuja. She said that with the presidential approval, […]

FG uncovers 24,000 ghost pensioners, pays N5 billion to retirees

August 7, 2019August 7, 2019Ayo Olowo

The Pension Transitional Directorate (PTAD) on Tuesday said federal government spent over N5 billion on payment of monthly pension to about 300,000 retirees of 270 parastatals and government privatised agencies. The directorate also dropped 24,000 ghost pensioners from the pension pay roll at the end of its verification exercise conducted in 2017. PTAD’s Executive Secretary, […]

Court strikes out N5.6bn pension scam suit brought against Kudirat Adeleke

June 25, 2019June 25, 2019News Agency

An Oyo State High Court sitting in Ibadan on Tuesday struck out a N5.6 billion pension scam suit against Alhaja Kudirat Adeleke, a former Head of Service in the state, and 11 others for lack of diligent prosecution. The News Agency of Nigeria (NAN) reports that the Economic and Financial Crimes Commission (EFCC) had instituted […]

N14bn Police Pension scam trial stalled again

May 27, 2019May 27, 2019News Agency

The trial of Esar Dangabar and six others in the alleged N14 billion police pension scam again was stalled in an FCT High Court, following his ill health. Dangabar is among seven persons standing trial before Justice Hussein Baba-Yusuf. Others charged along with him are Ahmed Wada; Atiku Kigo; Veronica Onyegbulam; Sani Zira; Uzoma Attang […]

Pension fund assets grow to N8.6trn – PenCom

February 7, 2019Eben Tanimola

The National Pension Commission (PenCom) says total pension fund assets have grown to N8.63 trillion as at December 2018. Ms Aisha Dahir-Umar, its Acting Director-General, disclosed this at the public hearing of the House of Representatives Ad-hoc Committee in Abuja on Thursday. The committee is mandated to investigate activities of PenCom and alleged violation of […]

Pension Fund Administrators invest N1.49trn in Treasury Bills, N4.22trn in FGN Bonds

October 22, 2018Ayo Olowo

The Pension Fund Administrators (PFAs) in the country have invested N1.49 trillion in Treasury Bills. The monthly report released by the National Pension Commission (PenCom) on Sunday in Abuja by Mr Peter Aghahowa, the commission’s spokesman made the disclosure. The commission also disclosed that the PFAs invested N4.22 trillion in Federal Government’s bonds, Federal Mortgage […]

RESPITE as FG releases N1.05bn to settle PHCN retirees

September 21, 2018September 20, 2018Ayo Olowo

Aggrieved retirees of the defunct Power Holding Company of Nigeria (PHCN) will smile soon as the federal government has taken the necessary steps to pay their entitlements. The government has released about N1.05 billion to settle outstanding claims and entitlements of the 408 staff of the defunct PHCN. The Director-General of the Bureau of Public […]

Governor Ambode clears N37.54bn pension arrears

June 3, 2018Eben Tanimola

The Lagos State Pension Commission (LASPEC) said Gov. Akinwunmi Ambode of Lagos State, has paid a total of N37, 546 billion to pensioners since 2015. According to a statement signed by the Director-General of LASPEC, Mrs Folashade Onanuga, on Sunday in Lagos, the figure represented the total pension paid to 9,045 retirees of the state. […]

Minister of Interior confirms Maina’s re-instatement

October 23, 2017October 23, 2017News Agency

The Minister of Interior, retired Lt.-Gen. Abdulrahman Dambazau, has confirmed the resumption of duty by former Chairman of the Presidential Task Force on Pension Reforms, Mr Abdulrasheed Maina, as an Acting Director in his ministry. The confirmation came in a statement issued by the Press Secretary to the minister, Mr Ehisienmen Osaigbovo, on Sunday. Osaigbovo, […]