Retired Police Officers of Nigeria under the contributory pension scheme stormed the National Assembly in the Federal Capital Territory, Abuja, to protest several months of unpaid pensions.

The retirees on Tuesday representing various state chapters lamented the severe hardships faced due to the failure of the National Pension Commission to pay their entitlements.

The retired police officers are urging the Federal Government to remove them from the contributory pension scheme.

Protest by retired police officers have have been recurrent, particularly on grievances over their entitlements.

In September 2021, retired officers from 27 states had also stormed the National Assembly in the Federal Capital Territory, Abuja, demanding their pension payments.

The House of Representatives Committee on National Security and Intelligence has resolved to constitute a technical committee to address issues concerning the epileptic malfunctioning of the presidential aircraft.

This is just as the lower chamber has resolved to summon the National Security Adviser (NSA), Nuhu Ribadu and the Commander of the presidential fleet to explain the breakdown of aircrafts in the presidential fleet.

The committee on Monday met with the commander of the Presidential Air fleet, Air Vice Marshal Olayinka Olusola, behind closed doors at the National Assembly Complex, Abuja to deliberate on the circumstances that resulted in the use of a chartered plane by the President, Bola Tinubu and Vice President Kashim Shettima recently.

Recall that the President had in April flown a chartered plane from the Netherlands to the Kingdom of Saudi Arabia to attend the World Economic Forum.

Also recently, Vice President Shettima cancelled his trip to the United States where he was scheduled to represent President Tinubu at the 2024 US-Africa Business Summit as a result of a faulty aircraft.

Debating a motion of urgent public importance brought on the floor of the House by the Chairman, the House Committee on National Security and Intelligence, Ahmad Satomi, the lawmakers resolved to invite the National Security Adviser, Nuhu Ribadu and the Commander of the presidential fleet to explain the faulty breakdown of planes in the presidential fleet, despite the huge allocation in the annual budgets to maintain them.

During the debate, House Minority Whip, Isa called on the President and Vice President to consider travelling by road to ascertain the truth of road infrastructure across the country.

Briefing journalists after the executive session, Satomi said a technical committee will be set up to interface with the officials at the presidential air fleet to generate a resolution.

“The committee has engaged the commandant of the presidential air fleet, the NSA and a lot has been discussed. It is a very sensitive national security issue that has to do with our President. And looking at our role in the foreign policy position of Nigeria, this is not something that we will come out publicly and discuss. Nevertheless, a lot has been explained.

“The committee resolved to set up a small technical committee to interface with the NSA, commandant, and all the stakeholders within a short period to come up with a final resolution that will foster the best for Nigeria, our President and the entire team of the presidential air fleet.

“So, I think for now the technical team will engage all the stakeholders in the presidential air fleet who have something to say. At the end, we will come up with a final resolution. But for now, we have not taken the decision. But we must have something that will represent Nigeria as a country,” he said.

Responding to whether the planes need to be fixed or replaced outrightly, the lawmaker said, “For now, we have not resolved on that. The entire presidential air fleet is okay for now. It is not the issue of either to repair or to think of getting new ones. All that we know is that as a country, our position in global policy — we need something that will represent our image because our pride will show how Nigeria is.

“So, we are yet to conclude or finalise but they have explained enough. Some of the incidents are just media propaganda. It is not what we expected or what we thought happened. It is something different.”

The Monetary Policy Committee (MPC) has raised the Monetary Policy Rate (MPR) to 25.25%

At the end of the 295th MPC meeting held on May 20th & 21st, the committee voted to raise the MPR by 150bps to 26.25%.

The committee however retained the asymmetric corridor at +100/-300 around the MPR and the CRR of Commercial banks at 45.00%.

The liquidity ratio constant holds at 30.00%.

Recall the the committee in February hiked the Monetary Policy Rate (MPR) by 400-basis-points to 22.75 percent and the cash reserve ratio to 45 percent, a record hike that took several analysts by surprise.