Opperators reveal implications of removing Nigerian Police from Pension scheme
Opperators reveal implications of removing Nigerian Police from Pension scheme
Pension operators have warned that exempting the Nigeria Police Force from the Contributory Pension Scheme could cost the Federal Government N3.5tn annually.
They disclosed this at a one-day public hearing on the proposed “Police Pension Board Bill 2024” at the National Assembly in Abuja on Tuesday.
Accordibg to Punch, this estimate comes amidst concerns about the financial sustainability of the police pension system if the police are removed from the CPS.
Chief Executive Officer of the Pension Fund Operators Association of Nigeria, Oguche Agudah explained that such a move would create unsustainable financial burdens on the country’s budget.
“If the police are going to leave this scheme, they will need at least 3.5tn today, invested every year, at least 10 per cent a year for them to be able to pay pensions for about 400,000 police personnel,” Agudah stated.
He emphasised that this would not only strain the national budget but also undermine Nigeria’s pension assets, which are currently invested in infrastructure and bonds, contributing to the economy.
Agudah’s position was echoed by other stakeholders, including representatives from the National Pension Commission, who cautioned that the move could lead to severe fiscal challenges and destabilise the pension system, which currently manages over N21tn in assets.
The pension operators also highlighted that while the police’s concerns over pension adequacy are valid, removing them from the CPS is not the solution.
The scheme’s existing framework allows for increases in contributions and benefits, offering a more sustainable and transparent way to address these concerns.
In contrast, a Deputy Inspector General of Police, Bala Ciroma, who represented the Inspector General of Police, argued strongly for the removal of the police from the CPS.
“We ask for the removal of the Nigeria Police Fund from the CPS,” he said.
The sponsor of the bill, Senator Binos Dauda, representing Adamawa South, while reading a message he received from an unnamed retired Commissioner of Police, highlighted the significant disparity between the pensions of retired police officers and those of their counterparts in other security agencies, noting that retired commissioners currently receive a paltry N70,000 per month.
“The issue is broader than the pension scheme. If you don’t increase the salary of police officers, even removing them from the CPS will not solve the pension problem,” he read.
A Civil Society Organisation, Contributory Pension and Happy Retirement Advocacy in a document at the hearing, warned that the proposed bill to create a separate police pension fund could set a dangerous precedent.
The CSO cautioned that if the police were removed from the CPS, other public sector groups might demand similar exemptions, further eroding the integrity of the pension reform.
Agudah reiterated the need to address police welfare issues within the CPS, suggesting that enhanced contributions and benefits could better serve the police while maintaining the financial stability of Nigeria’s pension system.
The proposed bill, they argued, could set the country on a dangerous fiscal trajectory if enacted in its current form.
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Report any officer asking for money for release of suspect as Police insist bail is free
Report any officer asking for money for release of suspect as Police insist bail is free
The Police Command in the Federal Capital Territory (FCT) has insisted that bail is free, and called on the public to report any officer asking for money to release a suspect on bail.
The Police Public Relations Officer in the FCT, SP Josephine Adeh, said this in an interview with the News Agency of Nigeria (NAN) on Friday in Abuja.
Adeh spoke in reaction to public outcry that some police officers were demanding money to release suspects on bail in the territory.
She said the report of the erring officers would serve as a deterrent to others, adding that it was fraudulent to demand for money to release a suspect on bail.
Adeh blamed the yielding to such fraudulent demand on ignorance on the part of the victims who refused to stand on their rights.
“A similar case was reported where an officer demanded money to release a suspect on bail and when the matter was reported, we requested for evidence from the victim.
“The evidence was provided because the money was transferred to the officer’s account and actions are being taken on the issue.
“So, I encourage the public to take advantage of the FCT Police Complaint Response Unit (CRU) lines on 08107314192 to report such misconduct with evidence,” she said.
Adeh urged the public to always insist on their rights and refuse any form of payment to release a suspect on bail.(NAN)
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Former President sentenced to five years in prison by Court
Former President sentenced to five years in prison by Court
South Korea’s former president Yoon Suk Yeol was on Friday sentenced to five years in prison for obstruction of justice.
The Seoul Central District Court found that the 65-year-old conservative, with the help of the presidential security service, had tried to prevent his own arrest and deleted multiple documents related to the investigation against him.
Yoon shocked the nation by imposing martial law on December 3, 2024, amid a budget dispute with the opposition, plunging the country into a political crisis.
He justified the drastic measure as necessary to protect South Korea’s democratic order and accused the left-leaning opposition of being infiltrated by communists with ties to China and North Korea, though he provided no evidence for these claims.
In a separate trial, prosecutors have sought the death penalty for Yoon on charges of incitement, with a verdict expected on February 19.
While the death penalty remains legally in force in South Korea, it has not been carried out for nearly 30 years.
Yoon’s actions previously alarmed international investors and led to withheld investments, damaging the reputation of South Korea as a political and economic model for the region.
Since last summer, South Korea has been led by President Lee Jae Myung, a left-leaning centrist and long-time political rival of Yoon. (dpa/NAN)
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JUST IN; Imam that famously shielded 262 Christians from death during Plateau attack is dead
JUST IN; Imam that famously shielded 262 Christians from death during Plateau attack is dead
The Imam of Nghar village, Abubakar Abdullahi in Barkin Ladi Local Government Area of Plateau State, who famously sheltered 262 Christians during communal violence, has passed away.
The Imam’s Son Saleh Abubakar, confirmed the development to Daily Trust on Friday, saying that the cleric died on Thursday night at the Plateau Specialist Hospital in Jos.
The Son said, his father “died ten days after he was admitted” in the hospital.
“He was initially diagnosed with a heart problem. He’d go for check-ups and return. His health hadn’t been stable since the heart disease diagnosis.”
Imam Abubakar died at the age of 90. He is survived by 19 children – 12 sons and seven daughters.
Tecall that in June 2018, during violent, faith-based communal clashes that affected 10 villages in Barkin Ladi, Imam Abubakar sheltered 262 Christians in his mosque and residence until the violence subsided, saving them from certain death.
His courage earned him widespread recognition, including the International Religious Freedom Award presented by the United States Department of State in 2019.
The late cleric will be laid to rest on Friday (today) in Nghar village after the Juma’at prayers.
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