financial News

Yobe State Governor Alhaji Ibrahim Gaidam has approved the release of N1,178, 012, 881.12 as gratuity payments to 470 retired civil servants and 193 deceased personnel. The governor’s spokesman, Alhaji Abdullahi Bego, said in a statement that the payment covered civil servants who retired or died between November 2015 and December 2016. Bego said, “Head of the Civil Service Alhaji Saleh Abubakar has assured that all gratuity payments in respect of workers who retired from the civil service or who died in active service from January 2017 to date are currently being processed. Some may recall that back in March…
Retirees are likely to become liabilities to the society if they are allowed to take 75 per cent of their pension savings as lump sum withdrawal at retirement. Reacting to moves in the National Assembly to allow retirees withdraw up to 75 per cent of the balance in their Retirement Savings Accounts (RSAs), an expert in one of the leading Pension Fund Administrators (PFAs) told Daily Trust that the development will hurt the Contributory Pension Scheme (CPS) as well as expose retirees to financial insecurity. Senator Aliyu Wamakko has sponsored a Bill For An Act to Amend the Pension Reform…
Pensioners of the Kaduna State Polytechnic have given the Federal Government an ultimatum of three weeks to commence gratuity payment of retirees who served the institution, threatening to go into the street if their demands are not met. The pensioners under the aegis of Association of Nigerian Polytechnic Pensioners (ANPP) at a press conference in Kaduna on Monday decried the nonpayment of their gratuity for 42 months, saying the government had no regards for pensioners. While appealing to government to listen to the hues and cries of the polytechnic retirees in Kaduna, they also cautioned agencies and individuals responsible for…
Nigeria exported goods worth N48.70 trillion to Europe, Asia, America, Africa and Oceania in the last four years. Analysis of the data sourced from the National Bureau of Statistics (NBS) showed that Nigeria had been exporting more goods to Europe, Asia and America more than she exported to other African countries from 2013 to 2014. The data showed that Europe was Nigeria’s number one destination for exports, with exports to the continent hitting N18.84tn in the last four years. The European destinations for Nigeria’s exports are Germany, the United Kingdom, the Netherlands, Italy, France and Spain. However, exports to Europe…
Page 6 of 8

Pension Review Magazine is the authoritative source of information on how these schemes and their sponsoring employers are working together to provide their members with an adequate retirement income.

Our case studies, news analysis and informed comment provide trustees, management teams and their providers with timely, practical information to inform their day-to-day jobs.

We use cookies to improve our website. Cookies used for the essential operation of this site have already been set. For more information visit our Cookie policy. I accept cookies from this site. Agree