The Lagos State Government under Gov. Babajide Sanwo-Olu has cleared N68.5 billion pension arrears for retirees in the state public servant. The Head of Service Lagos State,(HoS) Mr Bode Agoro, disclosed this on Tuesday in Lagos. Agoro spoke at a…
Rivers State Governor, Siminalayi Fubara, has announced that the state government will set aside N2 billion monthly to offset the backlog of pension and gratuity to retired civil servants. This move is aimed at clearing the outstanding payments and ensuring…
The Inspector-General of Police, Kayode Egbetokun, on Wednesday said the Nigeria Police Force was working on improving pension earnings for retired police officers in the country. Egbetokun announced this in Benin during his two-day working visit to Edo. According to…
Data from the National Pension Commission (PenCom) indicates that Nigeria’s pension fund assets have increased to N19.787 trillion as of April 30, 2024. This marks a growth of approximately 0.6 percent compared to the N19.669 trillion recorded as the net…
Pension fund allocation to infrastructure development has continued to swell with the investment of a total of N230 billion in Sukuk Bonds and the Nigeria Infrastructure Debt Fund (NIDF). A breakdown of the investment shows that Pension Fund Administrators (PFAs)…
By Sodiq Adelakun The Lagos State Government has warned intending retirees from the public service to be cautious of fraudsters who may attempt to deceive them into squandering their pensions. This warning was given by the Commissioner for Establishments and…
By Sodiq Adelakun Nigeria’s pension landscape has witnessed a significant boost as the Contributory Pension Scheme (CPS) assets have soared to N19.5 trillion at the end of January 2024, marking a 6.3 percent increase from the N18.6 trillion reported in…
The Federal Capital Territory Administration (FCTA) disbursed N4.43 billion to the six area councils of FCT, pension scheme and primary school teachers, as statutory allocation for January 2024. FCT Minister of State, Mariya Mahmoud, disclosed this while presiding over the…
Nigeria’s pension industry has shown remarkable growth, with the National Pension Commission (PenCom) reporting a significant 20 percent year-on-year increase, bringing the total assets under management (AUM) to N17.4 trillion as of September 2023. In a recent analysis by FBNQuest…
Electricity workers on Monday shut down the Kano Electricity Distribution Company (KEDCO), over alleged failure to remit their pension deductions in the last 72 months. The workers, under the aegis of the National Union of Electricity Employees (NUEE), vowed to…
