THE POLITICS OF APPOINTMENT OF MRS. CHINELO ANOHU-AMAZU; THE FORMER DIRECTOR GENERAL OF THE NATIONAL PENSION COMMISSION

12 May 2017
Author :  

PENSION REFORM ACT 2014
Some pessimists are calling the pension reform act 2014 as the “Mrs. Chinelo Anohu-Amazu’s  pension reform act 2014. The more ardent ones among them are labeling it as “Anyim’s pension reform act 2014”. But one thing is clear, one need not to be pessimist to understand that, the pension reform act 2014 was framed and designed purposely to install Mrs. Chinelo Anohu-Amazu as the substantive Director General of National Pension Commission (PenCom) at all cost. In addition, the proposed bill recommends five (5) years tenure as against four (04) years for the PenCom boss in the pension act 2014.


The only cosmetic change made apart from reducing the number of years of experience to qualify an individual to be the DG of PenCom was the upgrading of the employees and employers minimum monthly compulsory contribution of salary  to 8 percent respectively. The order changes; the bill prescribed a 10 years jail term for anyone found guilty of misappropriating pension funds. All other changes in the bill were predetermined to achieve the objective of installing Mrs. Anohu-Amazu as the DG of PenCom.

 


The joint National Assembly committees on Establishment, public Service Matters, who initiated the pension Reform and House committee on pension, have played on the intelligence of Nigerian’s by spending huge amount of resources for a predetermined result. The call for the public merandum then and recommendations submitted by stakeholders and pension professionals were never adopted in the committees’ report. The two Houses committees have lost their credibility; they were accused of forgery.

It was fair enough, before continuing with the deliberation on the committees’ report the leadership of the Houses should have called for an independent investigation on the shameful scandal and the joint committees’ ought to have stepped down before the completion of investigation of the serious allegation of forging the committee member’s signatures, by some members, apparently to achieve their ulterior motives. The accusation of bribery made against some of the pension committee members by Mr. Abdulrashid; the pension taskforce chairman was still pending unresolved, at the time the committee submitted their predetermined report. There was no way in any decent society; any recommendation made by this committee would have been accepted as credible.


The government of president Goodluck Jonathan was accused in many quarters of impunity in the way it ran its administration. Several Ministers were accused of corruption from the inception of the administration, in most cases nothing was done to contain their excesses. The pension reform bill was passed as a new pension law 2014, despite all the controversies surrounding it, however, there were opinions in some quarters, that the president may not be party to all these shoddy deals.

But his cluelessness allowed these charlatans to temper with the pension law for their selfish reasons. Principally, some pension experts believe that the main purpose of effecting a change in the previous pension act 2004 was simply to install an inexperienced professional to serve a certain regional interest.
Some pension pundits argued that it was fishy how the contentious clause in the new pension bill which recommended the scrapping the provision of 20 years of experience required of Director General of the National Pension Commission (PenCom) was approved by the senate at the time when the Deputy Senate President Ike Ekweremadu presided over the chamber, despite it was vehemently opposed by the then president of the senate Mr David Mark.

Contrary to the reasoning of the framers of the existing pension Reform Act 2004 who ensure that the commission’s DG must possess professional skill and with not less than 20 years of cognate experience was expunged as requirement to pave way for a single individual interest who ought to have retired having served for eight (8) years as company secretary on the level of Director. It is sad, when one notes that the actuarial profession in U.S.A and other western world, but absurdly is truncated to serve a selfish interest of the myopic few; our law makers were docile to have allowed this happenings possibly for pecuniary gains.


The questions raised by concern Nigerians was that; was it a coincident the House of Representative lower the DG’s experience bar when it was presided over by the Deputy Speaker; Emeka Ihedioha, when previously the members of both the lower and upper houses opposed the decision to lower, which was viewed as an attempt to pave way for: Mrs. Chinelo Anohu Amazu to become the substantive DG. Apart from setting a bad precedence by allowing this change to sail through; as it was well known fact that Mrs. Anohu Amazu had already served as a director or its equivalent in the commission, therefore, Supposed to retire along with all the commissioners in accordance with all the existing law.

Surprisingly, also in order to pave way for this injustice, a whole gamut of Actuarial Science profession was replaced with part VII of section 26 item(2d) which state that, the DG of PenCom shall posses relevant and adequate professional qualification in pension matters with 15 years cognate experience. While in the pension act 2004, the law was specific; it stated that the Director General shall have a minimum of Degrees in Actuarial Science, Insurance, Accounting, Management or Law with at least 20 years cognate professional experience.

There were numbers of institutions of higher learning offering Actuarial Science as a course, and there were numerous students who registered for the course. Could it be that the leadership ambitions of such young people are being truncated? It is unbelievable that such things happened in our country.
The Executive  Secretary of the National Universities Commission, stated that there was plan under foot to expand “Actuarial Science” was the solution to Nigeria Unemployment problems; Daily Trust, Wednesday 14, 2014 pg. 14.

We believe this kind of injustice as allowed to happen in Nigeria by the unpatriotic element, have now succeeded in killing the aspirations of the teeming population of youth who studied actuarial science. The motivating factor to so many of them was to one day fulfilling the ambition of being the Director General or top executive officers at PenCom. So therefore, by expunging the actuarial science as one of the qualification to head PenCom, certainly many would drop the idea of studying the course.


One wonders why such issues attracted so much attention from several quarters; especially among the top government functionaries in the last administration it was reported by the media that there was so much pressure from the above on the legislators of both Houses to lower the age bar. The lobby, was so in-tensed; there was allegation that a lot of monetary inducement was made to achieve this undesirable objective. The then secretary of the government was allegedly rumored to be the arrow head of this undesirable project. It was a pity that some of our legislators because of the pecuniary gains, allowed this impunity to happen.

In some decent societies, Actuaries dictate happenings in pension matters, because of their training that provided them with the skill to analyze the financial consequences of pension risk, they often use mathematics, statistics and financial theory to study uncertain future events, especially those concerning pensions. It appears, the country has learned nothing in the past events, especially those concerning pensions; which involved scandalous mismanagement and misappropriation of pension.

Pension professionals were justified in reading ulterior motives in relegating qualified professional to neotype in managing our National Legacy such as pension. More so, presently the pension assets are in the region of 6.2 trillion. Nigerians of goodwill should critically look the pension law objectively with the view of pragmatic amendment which had been long overdue. Ironically, the chilian pension model adopted by Nigerians has been jettisoned in chili; Nigeria is being taunted globally for copying wrongly an unworkable pension system.   

68387 Views
Pension Review Magazine

Email This email address is being protected from spambots. You need JavaScript enabled to view it.

Comment

  • Seymour Seymour May 12th, 2017

    Thanks funny site http://www.teollisuusmerkinta.fi/vimax-pills-results-permanent-750 vimax pills results permanent "We now anticipate operating profit for the other tobaccoproducts segment in the third quarter to be in the range of 50to 60 million Swedish crowns below the third quarter of theprior year," the company said in a statement.
    http://www.kulturelbellek.com/penatropin-sale-3b8#merely penatropin doesn't work
    However, the firm has not disclosed a date for when the first RRAM devices are set to ship. It has in fact only demonstrated a working Crossbar memory array at a commercial fab, as a proof of concept before bringing the technology to market.
    http://urbanity-blog.com/generic-wellbutrin-xl-weight-loss-a4d much does wellbutrin xl cost insurance A number of parks, beaches and conservation groups around the state run programs where nature-lovers can learn about the phenomenon and even watch baby turtles - without disturbing them - as they emerge from the nests and make their way to the water.
    http://www.rallytops.com/programa-de-desconto-wellbutrin-xl-047 wellbutrin dopamine receptors He said: “Both male and female employees rate female supervisors significantly higher than male supervisors, although the score difference is very small… interestingly, we found that having an opposite sex boss was associated with better wellbeing.”
    http://www.direitoetrabalho.com/nombre-generico-de-motilium-7af#safe purchase domperidone canada "The reasons why this fishplate dislocated itself is the very focus of the investigations," SNCF head Guillaume Pepy said, adding the train operator would immediately start checking some 5,000 similar junctions throughout the French rail network.

  • Graham Graham May 12th, 2017

    Do you know the number for ? https://buyslimroast.co.uk/canadaviagra-c26 genericviagra The Fed refrained from trimming its $85 billion a month bondpurchases last month and the showdown among U.S. lawmakers overraising the debt ceiling has reinforced a perception in marketsthat the U.S. central bank will maintain monetary stimulus inthe near term.
    http://www.kulturelbellek.com/penatropin-sale-3b8#clever jual penatropin BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
    http://staffscc.net/wppalmer/index.php/clomid-rxlist-c60#counsel nolvadex clomid pct cycle Moreover, he said, it is not clear that insurers will pay for drugs if the data do not show improved survival or other clear benefit they are used to seeing when drugs are approved. One task, he said is to figure out "how to bring payors on board."
    http://urbanity-blog.com/glutimax-and-flex-574#gos reviews on glutimax cream One of the primary objectives of the halftime show is to draw viewers who aren’t necessarily interested in the game. Your buddy who saw Billy play at a tiny club in Long Island back in ’74? He’s already watching, over there in the corner with the Bradshaw jersey on.
    https://www.caudwellchildren.com/cms/voltaren-dolo-25mg-bevont-tabletta-20x-70e#expressive diclofenac 75mg uses Requests for gun permits are on track to double this year over last year in heartbroken Newtown, where 20 first-graders and six staffers were massacred at Sandy Hook Elementary School just before Christmas, police said.

  • Lucky Lucky May 12th, 2017

    Special Delivery https://buyslimroast.co.uk/elimite-cream-scabies-treatment-267#let permethrin 5 These opaque blinds fit snugly within vertical “runners” attached to the window frame. At the bottom of the blind is a rubber seal and brush similar to draught-excluder brushes on front doors. Tested for energy-saving potential by the British Board of Agrément (BBA), these blinds were found to have significant energy-saving properties, reducing heat loss through single-glazed windows by 43 per cent, saving around £180 a year on heating bills in a three-bedroom single-glazed house.
    https://buyslimroast.co.uk/buying-valtrex-in-canada-e59 how often to take valacyclovir for cold sore Some residents have already prepared a uniquely Rio de Janeiro welcome for Francis: They've built from sand life-sized images of the pope on Copacabana, in place of the usual sculptures of bikini-clad beauties.
    http://www.provelozuerich.ch/tylenol-vs-ibuprofen-for-fever-in-adults-000 can i take motrin 800 and vicodin together Bisutti said being a Victoria's Secret model made her feel like "a piece of meat," and she talks about the "harsh realities of the modeling industry" in her memoir, "I'm No Angel: From Victoria's Secret Model to Role Model." In the book, she reveals some of the crazy crash diets and extreme measures others, not just those working for the lingerie company, underwent to stay thin.
    http://www.itntv.lk/swanson-ashwagandha-450-mg-d39#reading ashwagandha energy Dimming a device's screen brightness will increase battery life, as will turning off Bluetooth wifi and GPS. Try using a standard ringtone rather than vibrate and make sure that when an app is not in use it isn't left open. Unless closed down completely it is still running in the background and therefore putting strain on the device's processor. If your phone or tablet has a sleep setting, set it for the shortest interval so that it shuts down within 30 seconds of use. Also, don't use it as a watch: clicking on the homekey or standby key just to check the time can drain the battery.
    http://malcolmpollack.com/high-dose-amlodipine-20-mg-89b amlodipine besylate 5 mg missed dose Unfortunately, the release of Windows 8.1 won't mean a sudden explosion of 3D printing despite Microsoft's attempts to make it extremely easy. Prices of 3D printers are beginning to drop, but the roadblock will be the consumers' need to learn CAD or 3D design software. Unless there's a solution developed to make design easier and on-the-fly, many consumers may never use a 3D printer.

  • Cameron Cameron May 12th, 2017

    Where's the nearest cash machine? http://www.direitoetrabalho.com/comprar-cialis-genrico-brasil-5f3 cheapest cialis super active Subic, who was most recently the executive chef of Do or Dine in Bedford-Stuyvesant, dishes out the noodle entrees and snacks such as spicy wings and grilled baby octopus salad, while bartender Cochran serves up Mai Tais, Zombies and Scorpion Bowls.
    https://alfaracer.com/fluoxetine-40-1d5 fluoxetine 40 The television personality, has written about her 40-pound weight loss in her bestselling "The EveryGirl's Guide to Life," but she's never thought of herself as "being on a diet."
    https://www.ourhouse-grief.org/cialis-20mg-preis-mit-rezept-cf5#fascinated prix cialis 5mg en france “Obviously, I’m not going to challenge it if I didn’t think it,” Ryan said of challenging the spot on Powell’s run. “I really felt we had a chance to get that first down, to look at it. And then the other deal was the clock was down under 10 seconds and I was going to use a timeout anyway ... so it’s like, ‘Okay, I have two challenges left,’ and I thought we made (it). In my line (of sight), I thought we made the first down.” ... DL Muhammad Wilkerson picked up two sacks against the Bills, even though he hasn’t fully recovered from a sprained ankle. “I wouldn’t say it’s 100%,” Wilkerson said on WFAN Tuesday.
    https://www.kentautistic.com/ingredients-in-progenis-227#fluid progenis cennik
    Other claims include that of Ali Al Jedda v the UK (2011). The claimant was arrested travelling from London to Iraq in 2003 on suspicion of being a member of a terrorist group involved in weapons smuggling and explosive attacks in Iraq.
    http://www.acege.pt/piguki-antykoncepcyjne-yasmin-cena-1ea pille yasminelle preis Wahome concluded: "Trauma is a scar. It doesn't go away. What you do is you can make it become smaller and smaller. When you work on it, it becomes less painful, and eventually you learn to live with it."

  • Billie Billie May 12th, 2017

    I study here http://microgrow.com/adcirca-and-tracleer-412 adcirca leg pain There are judicial, electoral and business reforms to be made; meeting EU food standards is also a huge challenge. Take the dairy sector, for instance; at a French multinational, we asked a bit about that.
    https://buyslimroast.co.uk/elimite-cream-scabies-treatment-267 1 permethrin for scabies China's prosecutors and courts come under Communist Party control and are most unlikely to challenge its accusations, though formal charges have yet to be publicly announced and the trial is likely to be conducted, at least partly, in secret.
    https://buyslimroast.co.uk/buying-valtrex-in-canada-e59 does valacyclovir get rid of cold sores For now, the no-good, very bad polls are mainly a warning, a sign of what could happen should the party stay on the same course. If the party stumbles into more messy battles next year, Republicans will have to get used to saying "Speaker Pelosi" all over again.
    http://urbanity-blog.com/viagra-rx-1-b6c#freely cheap generic viagra/cialis He sure knows how to make a scene! Odom was captured on video by TMZ throwing a cameraman's equipment into the street. The basketball star picked up some of the photographer's gear, and then drove off with them.
    http://www.rallytops.com/programa-de-desconto-wellbutrin-xl-047#spine wellbutrin precio venezuela Reginald (Reggie) Chance, 37, flips off reporters in court Sunday before being charged with taking part in the vicious mob attack in New York on SUV driver Alexian Lien in front of the victim’s wife and toddler.

  • Aiden Aiden May 12th, 2017

    We'd like to invite you for an interview https://www.portalbeleza.com/tadacip-20-mg-nebenwirkungen-cf5#scuffle tadacip or tadalis Wedged trainers are the perfect option for the stylish girl about town. Comfortable enough to wear all day, yet with the glamour of heel, they are both high fashion and practical - an unusual combination. Pair yours with your favourite skinny jeans for off-duty model vibes.
    https://www.ourhouse-grief.org/cialis-20mg-preis-mit-rezept-cf5 cialis 60 mg kaufen Some 18 months after the hulking ship ran aground, it is a daily reminder of slow the progress in dealing with the aftermath has been. The remains of two of the 32 dead have yet to be found. The timetable to salvage it has stretched on.
    https://www.kentautistic.com/ingredients-in-progenis-227 does progene really work Mantei hammered at what he said are inconsistencies in Zimmerman's story, saying he "flat out lied" about being unaware of Florida's "Stand Your Ground" law. Mantei asked how could a jury be expected "to take his word about anything."
    http://urbanity-blog.com/montelukast-10-mg-used-for-031#warn montelukast comprimidos para que sirve
    The National Hurricane Center in Miami says maximum sustained winds late Thursday are 85 mph (137 kph) The center is about 1230 miles (1979 kilometers) west-southwest of Mexico's Baja California peninsula, south of California.
    http://www.rallytops.com/achat-paracetamol-047#gene paracetamol jadran sirup cijena The fragility of China's latest economic revival comes as nosurprise. Exports suffered a surprise fall in September afterdemand from emerging nations crumbled on volatile financialmarkets, a trend the government said this week is expected tolast.

  • Micah Micah May 12th, 2017

    Which university are you at? http://microgrow.com/adcirca-and-tracleer-412#anger adcirca kosten In the spot foreign exchange market, allegations that bankswere using advance knowledge of client orders to try andmanipulate the WM/Reuters benchmark rate, used by investors andcompanies to value their holdings, has prompted an investigationby authorities in the UK.
    https://buyslimroast.co.uk/hoodia-p57-bahaya-267 p57 hoodia cactus slimming reviews
    During the three years he recruited a new chief executive – Ron Johnson from Apple – to upgrade merchandise and make stores more attractive to shoppers. However, in the past year sales have fallen 25pc and the share price has dropped 32pc since January.
    http://www.itntv.lk/diclofenac-chirmis-10-mg-g-gel-16e#frightful can you get high off diclofenac sodium 75mg President Karzai was recently so concerned by the general feeling of pessimism in the country that he felt moved to intervene. He asked people to calm down, saying nothing was going to happen in 2014.
    http://www.provelozuerich.ch/comprar-viagra-sin-receta-barcelona-4c1 goedkoop viagra kopen Hasan opened fire at a Fort Hood medical center packed with soldiers heading to or recently returned from overseas combat deployments. He also was set to soon go to Afghanistan to counsel soldiers there, and said he carried out the attack to protect Muslim insurgents on foreign soil.
    https://alfaracer.com/sildenafil-sitrat-fiyati-a6b#golden prix sildenafil sandoz This is the ninth article in my monthly series that highlights these Top 10 longevity foods. If you’re just catching up, check out the longevity benefits of corn, black beans, walnuts, sweet potatoes, peanuts, green tea, seaweed, and sesame seeds!

  • Carmine Carmine May 12th, 2017

    No, I'm not particularly sporty http://www.acege.pt/minoxidil-5-sprey-fiyat-1ea minoxidil sprey fiyati
    "Although many mental health disorders are more common among children from lower socio-economic groups, others, such as anxiety disorders, are just as common, if not more common, among children from higher socio-economic groups."
    https://www.caudwellchildren.com/cms/finpecia-ship-to-canada-c77#misfortune finpecia cost in india U.S. News is not setting its weights to influence either schools' or students' admissions practices or decisions. We are setting weights based what matters most in determining academic quality and what students should care about when applying to colleges. 
    http://urbanity-blog.com/montelukast-10-mg-used-for-031 montelukast 5 mg uses Financial services were also a drag, as equity and foreign exchange market activities fell on concerns over the Federal Reserve winding down its monetary stimulus and the threat of military intervention in Syria.
    https://www.kentautistic.com/viagra-kopen-in-nederland-bfc#tire viagra 100mg side effects Although McAlpine's graphene circuit senses specific molecules in the mouth, McAlpine can see a modified version of the circuit that contains an accelerometer. "People are going through a list of devices one by one," he said. "They're trying to figure out how to get [these devices] to interface directly with the body."
    http://staffscc.net/wppalmer/index.php/is-there-a-generic-for-aciphex-c60 when will aciphex go generic Federal police clashed with some protestors as they cleared the massive square, or Zocalo, for celebrations on Sunday, when President Enrique Pena Nieto is due to lead his first traditional remembrance of the heroes of Mexican independence.

  • Willard Willard May 12th, 2017

    Other amount http://invalidisaatio.fi/uprima-belgique-65a uprima where to buy Through the two hours we spent at the center on Tuesday, Ielpi volunteered his own memories in generous detail — this is what they do here, an intense museum at which every guide was personally present during the attack, some in the towers — but continually insisted that this story focus on crediting the Mets for their long-term involvement.
    https://alfaracer.com/is-amoxicillin-500mg-safe-during-pregnancy-nhs-518#intervals is amoxicillin 500mg safe during pregnancy nhs MOSCOW, Sept 12 (Reuters) - Russia's Norilsk Nickel, the world's biggest nickel producer, said it plans toslim down and focus on its top assets, joining other big miningcompanies in shedding businesses in the face of weak metalsprices.
    https://buyslimroast.co.uk/voltaren-schmerzgel-forte-150-g-preisvergleich-versandkostenfrei-1eb#hurried voltaren billige alternative The main markets for offshore wind turbines are currentlythe North Sea coastal countries, particularly Britain andGermany. Out of 44,799 MW of new wind power capacity installedglobally in 2012, only 1,295 MW was offshore, mainly in the UK,according to the Global Wind Energy Council.
    http://altogethercare.co.uk/alli-sale-week-a7d#stolen alli for sale again The new bird flu virus, which was unknown in humans untilFebruary, has so far infected at least 133 people in China andTaiwan, killing 43 of them, according to the latest World HealthOrganization (WHO) data.
    https://www.capabilityevents.co.uk/methylprednisolone-tablets-price-in-india-84c methylprednisolone para que es House Republican leaders on Sunday outlined their caucus game plan for a critical next few months and beyond, suggesting a potential compromise on the sequester before an October deadline and a final vote on immigration reform.

  • Geoffrey Geoffrey May 12th, 2017

    Just over two years http://www.rallytops.com/viagra-brez-recepta-krka-322 viagra rezept online erhalten
    His toxic rant at Skyler on the phone after kidnapping their daughter, though perhaps also meant to provide Skyler with some legal cover, was nonetheless horribly hateful and hurtful. He meant every bottled-up word that finally spewed forth as he accused her of doubting, undermining, and otherwise failing to respect him.
    http://urbanity-blog.com/amoxicillin-uses-for-sinus-infection-031 ordering amoxicillin antibiotic Under the U.S. system, the Commerce Department investigatescharges of unfair trade and determines whether duties areappropriate and if so at what level. But the ITC must approvethe probe and has the final word on whether duties are imposed.
    http://www.graine-ficelle.com/en/valaciclovir-precio-chile-17e#untidy aciclovir pomada comprar online
    All of this inner turmoil Im experiencing leads me to question the age-old adage If you wanna be my lover, you gotta get with my friends. How important is it to you that that your friends approve of the person youre getting intimate with? Id like to believe that all intimate interactions only exist between the people having them, but I know enough about my friends sex lives (and they know enough about mine) to know better. We all have opinions, and Im comforted by the idea that my friends love my boyfriend and like us together.
    http://www.villatorretta.it/prandina-gong-mini-preis-c45 huis te koop prandinga oosterwolde Tesco has suffered more from a weak British economy thanmany rivals because it sells a higher proportion ofdiscretionary non-food goods, like electrical items andhomewares, where shoppers have been making the biggest cutbacks.
    http://staffscc.net/wppalmer/index.php/fosamax-preisvergleich-63b#mop fosamax pris Over the coming months, general manager Ned Colletti and the Dodgers owners will have to beef up the bullpen and bench while also addressing contract negotiations for manager Don Mattingly, his coaching staff and 12 free agents.

Login to post comments

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