Connect with us

Published

on

banner

PenCom reaffirms commitment to expanding pension coverage

The Director-General of PenCom, Mrs Omolola Oloworaran, has reaffirmed the commission’s commitment to expanding pension coverage through the new Personal Pension Plan.

Advertisement

She spoke at the annual conference of the Pension Correspondents Association of Nigeria held on Thursday in Abuja.

The conference was with the theme ‘Inclusion and Innovations: Bridging the Pension Gap for Nigeria’s Informal Sector.’

Advertisement

Represented by Head of Corporate Communications, Mr Ibrahim Buwai, she said the plan would ensure every Nigerian, whether employed or self-employed, enjoyed a secure and dignified retirement.

She noted that Nigeria’s informal workforce, estimated at up to 80 million people, remained largely uncovered under the existing pension scheme.

Advertisement

According to her, this gap deprives artisans, traders, freelancers, and gig workers of the benefits of structured retirement savings.

She said under-coverage meant the promise of retirement security remained a distant dream for many Nigerians.

Advertisement

Oloworaran said the Micro Pension Plan launched in 2019 attracted about 200,000 contributors and assets worth N1 billion.

She added that more innovative and inclusive measures were needed to expand pension participation across the country.

Advertisement

She said PenCom had redesigned the Micro Pension Plan into the new Personal Pension Plan under the Pension Revolution 2.0 initiative.

The PenCom DG outlined key PPP features, including broad eligibility for informal and self-employed workers and voluntary contributors in formal employment.

Advertisement

She said contributions would be flexible, with savers allowed to access half of each payment for urgent needs.

Oloworaran added that the plan would use mobile money, POS, USSD, and digital wallets through accredited agents and pension administrators.

Advertisement

She said the scheme offered transparency, with instant payment acknowledgment and real-time access to contribution statements.

Oloworaran said the plan was created to address low awareness, irregular earnings, and complex registration processes in the informal sector.

Advertisement

She said the new approach was expected to boost pension coverage, strengthen financial inclusion, and improve retirement security.

She urged journalists to support PenCom by raising awareness and simplifying the message for grassroots communities.

Advertisement

Acting PenOp Chief Executive, Ms Anthonia Ifeanyi-Okoro, also called for increased inclusion and innovation in the pension system.

She described pensions as a social contract that transforms long years of labour into dignity and independence in old age.

Advertisement

Ifeanyi-Okoro said the PPP offered flexibility, simple onboarding, and digital channels tailored to informal sector realities.

She said technology, education, and trusted agents would help millions of informal workers join the pension system.

Advertisement

She highlighted progress under the Contributory Pension Scheme introduced by the Pension Reform Act of 2004.

In her remarks, PenCAN President, Mrs Nana Musa, said the association viewed itself as a partner in national development.

Advertisement

She said PenCAN aimed to amplify stakeholder voices, highlight progress, and ensure accountability in the pension sector.

She commended all stakeholders for supporting efforts to strengthen Nigeria’s pension system. (NAN)

Advertisement
banner
Continue Reading
Advertisement

News

Increase salary, welfare packages for Police other security personnel – FG told

Published

on

banner

Increase salary, welfare packages for Police other security personnel – FG told

Peoples Democratic Party (PDP) has called for improved welfare packages for armed forces personnel and all members of the security and intelligence community to aid their effectiveness and efficiency.

Advertisement

National Chairman of PDP, Tanimu Turaki, made the call in a statement in Abuja on Thursday to mark the 2026 Armed Forces Celebration and Remembrance Day.

Turaki also urged the Federal Government to adequately fund security agencies to effectively neutralise those he described as agents of insecurity, and restore peace to the country.

Advertisement

He expressed PDP’s condolences to the families of members of the armed forces who died in active service while executing their mandate of protecting Nigeria’s territorial integrity and sovereignty.

“On a day like this, we acknowledge that they paid the supreme price for the continuous existence of our country.

Advertisement

“We advise all actors, whether state or non-state, not to engage in actions capable of destabilising the country.

“In honour of those who have died to keep our country safe, we pray that their deaths may not be in vain and their labours not forgotten,” Turaki said.(NAN)

Advertisement
banner
Continue Reading

News

Rivers Lawmakers fail to resume plenary amid ongoing impeachment proceedings against Gov Fubara

Published

on

banner

Rivers Lawmakers fail to resume plenary amid ongoing impeachment proceedings against Gov Fubara

The Rivers State House of Assembly, led by Speaker Martin Amaewhule, did not reconvene for plenary on Thursday, a week after adjourning its last session.

Advertisement

During its first sitting of 2026, held last Thursday, the House had initiated impeachment proceedings against Governor Siminalayi Fubara and his deputy, Prof. Ngozi Odu, over alleged gross misconduct. The charges reportedly included the demolition of the state assembly complex and unauthorized spending, among other allegations. That session was adjourned to January 15, 2026.

However, as of noon on Thursday, a visit to the assembly—currently holding sittings at its conference hall along Aba Road—showed no indication that the House would resume.

Advertisement

No official reason has been provided for the delay, and a new date for resumption has not been announced.

Advertisement
banner
Continue Reading

News

Two killed, others arrested as Police operatives engage hoodlums that attacked ex–Governor’s convoy in gun battle

Published

on

banner

Two killed, others arrested as Police operatives engage hoodlums that attacked ex–Governor’s convoy in gun battle

Two suspected armed robbers were shot dead following a prolonged gun battle with police at Enugwu Agidi Junction in Dunukofia Local Government Area of Anambra State.

Advertisement

According to the state police spokesperson, Tochukwu Ikenga, the clash occurred between security operatives and hoodlums believed to be armed robbers and cultists with links to a proscribed secessionist group. He said the exchange of gunfire lasted about two hours.

Ikenga disclosed on Thursday that three other suspects escaped during the operation, sustaining varying degrees of gunshot injuries.

Advertisement

He added that items recovered from the scene included one T.06 rifle, two pump-action guns, 24 rounds of T.06 ammunition, 15 live cartridges, assorted criminal charms, a red cult beret, and a black Toyota Highlander vehicle.

He said, “Anambra State Police Command in the early hours of 14th January 2026 recorded another major operational breakthrough in its sustained efforts to rid the State of criminal elements and ensure the safety of lives and property.

Advertisement

“The Police Operatives attached to Rapid Response Squad Awkuzu acting on credible and actionable intelligence, laid an ambush to a 5-man group of armed hoodlums suspected to be armed robbers, cultists, and linked to a proscribed secessionist group at Enugwu Agidi Junction, Dunukofia Local Government Area of Anambra State.

“Upon sighting the Operatives, the suspects engaged the Officers in a fierce gun battle that lasted for two hours which resulted to fatal gun shot injuries on two of the armed suspects, while the other three fled the scene with varying degrees of gunshot injuries.

Advertisement

“The Operatives also recovered One (1) T.06 rifle, two (2) pump-action guns, Twenty-four (24) rounds of T.06 ammunition, Fifteen (15) live cartridges, Assorted criminal charms, One cult red beret and One black Toyota Highlander vehicle.

“Furthermore, while in deep agony, one of the armed suspects confessed the gang members as being part of those who launched an unsuccessful but repelled attack by the Police Operatives on the convoy of former Minister of Labour and Employment, Dr Chris Ngige.

Advertisement

“He also confessed being part of the striking squad of Vikings confraternity on a mission to retaliate the death of one of their members by another rival cult group.

“The Commissioner of Police, Ikioye Orutugu while commending the gallantry of the operatives charged them to intensify efforts to arrest other gang members, particularly those who fled with gunshot injuries during the encounter.

Advertisement

“Meanwhile, hospital or related medical facilities are advised to admit anyone with gunshot wounds or related injuries, but must endeavor to report such to the nearest Police Station immediately.

“Further developments will be communicated as investigations progress.”

Advertisement
banner
Continue Reading

Trending

© 2025, All Rights Reserved | Crime Channels