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PenCom Does Not Give Loans to Federal Government, says DG

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Mrs Aisha Dahiru Umar ,DG Pen Com

 

Mrs. Aisha Dahir-Umar, the Director General of National Pension Commission (PenCom), has described as “totally misleading” widespread reports that the Commission gave a N10 trillion loan to the Federal Government.

She also responded to claims that PenCom was owing Federal Government retirees arrears of pensions as well as insinuations that Pension Fund Administrators (PFAs) are not fulfilling their obligations to retirees with regards to access to their retirement savings.

Mrs. Dahir-Umar, in a media interview at the weekend, said apart from the fact that PenCom is not a bank and does not warehouse or manage pension funds, the Federal Government did not take a loan of N10 trillion from the Commission.

“Investments by the PFAs in the securities of the Federal Government of Nigeria (FGN) are not loans as erroneously portrayed, but investments in securities, through bonds and treasury bills, as approved by the relevant government agencies, in this case the Debt Management Office (DMO) and Securities and Exchange Commission (SEC). They are traded on authorized capital markets. That is, the Nigerian Exchange Limited and FMDQ OTC Securities Exchange,” she explained.

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“Moreover, pension fund assets are not managed by PenCom. I have said it repeatedly that when we say pension assets have grown to N15 trillion, that does not mean PenCom has N15 trillion locked somewhere in its office or bank accounts. Pension fund assets are managed by the licensed PFAs and held in custody by the licensed Pension Fund Custodians (PFCs). The PFAs are responsible for investing pension fund assets in allowable asset classes, including FGN debts instruments. The objectives are safety and fair returns. All these are in line with the provisions of the enabling law, the Pension Reform Act 2014, and the rules issued by the Commission. It is obvious from the above that what is referred to ‘loan to FGN’ is just investment in FGN securities by the PFAs, as is done by other institutional investors such as banks, insurance companies, asset managers, etc.”

Mrs. Dahir-Umar added that it is an international best practice to invest in investible instruments issued or backed by the sovereign authority and that the FGN securities meet the objectives of safety and fair returns.

“The FGN has consistently met its repayment obligations, both principal amount and accrued interest, for all investments in bonds and T-bills to all investors including pension funds. The information is always in the open and accessible on our website, www.pencom.gov.ng,” she said.

The PenCom DG further clarified claims about outstanding benefits to Federal Government retirees.

“The delayed payment of retirement benefits to some Federal Government retirees and deceased employees is because of the inadequate and delayed funding for the payment of Accrued Pension Rights for those who were in service before the Contributory Pension Scheme (CPS) was introduced when PenCom was established in 2004,” she said.

“Payment of the accrued rights is subject to release of funds by the Federal Government. So, it is beyond the powers of the Commission. However, we have been engaging the Federal Ministry of Finance for more funds to be released to settle these liabilities, but it is not a secret that the government itself has budgetary constraints.”

She said all those enrolled under the CPS have been receiving their benefits through their PFAs and there is no unsolved complaint before the Commission.

 

 

 

 

 

 

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Wike Kick-Starts Campaign for 2027 Election, Urges Rivers Electorates to Vote Tinubu

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By Yusuf Danjuma Yunusa

Minister of the Federal Capital Territory, Nyesom Wike on Tuesday urged the electorate in Rivers to support President Bola Tinubu for a second term in 2027 to sustain the progress being recorded in the state.

Mr Wike made the appeal during his “thank you” visit to Degema Local Government Area of Rivers.

He cited the unprecedented attention Tinubu is giving to Rivers ranging from development projects, appointments, and human capital development.

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The minister, who said that the Rivers people ‘never had it this good’, urged the people to continue their support for Tinubu to sustain the gains.

He noted that although the due attention given to Rivers was attracting envy from every quarters, supporting the reelection of Tinubu would take Rivera to greater heights.

He explained that the visit was to thank the people for the continued support, urging them to replicate the gesture in 2027.

Earlier, Peter Abe, member representing Degema LGA in the State Assembly, thanked Wike for providing the needed leadership in the state.

Mr Abe said that all communities in the state were witness to what the minister did in 2023, which was beneficial to all people in the state.

He thanked Wike for steering the state to progress, assuring him of the readiness of the people to follow his directives in 2027.

The Chairman of council, Michael Williams, assured the minister of continued support, adding that all the community structures in the LGA would support the reelection of Tinubu.

Williams noted that Wike initiative to support the election of Tinubu in the state in 2023 has brought progress in the state, stressing that supporting his reelection bid would sustain the progress.

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2027: Ex-DSS DG, Lawal Daura to Contest Katsina Governorship

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By Yusuf Danjuma Yunusa

 

Former State Security Service Director-General, Lawal Daura, has announced his plans to run for the 2027 governorship election in Katsina State. He criticized the current administration’s performance and highlighted ongoing security issues as key reasons for his decision to enter the race.

During an interview with DCL Hausa on Tuesday, Mr. Daura stated that he has finished consulting about his political aspirations and will soon reveal the political party under which he plans to run.

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He said, “I have been making consultations on the platform to use to contest, and the consultations have been concluded. Very soon, I will make the platform known.

“Why do people serve for one or two terms? If they get it right, fine. But if the reverse is the case, then there is no point in seeking re-election. It is obvious the current governor is not capable.

“It is like putting a load on somebody and adjusting it. If he complains that the load is too heavy, you have to take it down to avoid destroying fragile items. For the current administration, we can say thank you for your efforts, but you should take a break because you can’t continue.

“I never saw myself coming out to contest. I admire politics, but I only participated from the background.”

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Court reverses dissolution of NNPP executives

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Kano high court has invalidated the dissolution of state, local and ward executive Council of the New Nigerian Peoples Party (NNPP) in Kano, amounting the decision of the National Working Committee (NWC) null and void.

In an exparte order granted by Justice Nasiru Saminu on Tuesday, the equally restrained the National Working Committee of NNPP from taking any further step regarding the leadership structure of the party in Kano until the hearing and determination of motion on notice filed by the plaintiff.

In a suit No. K/06/2026 instituted by one Abdullahi Zubairu Imam and five others (plaintiffs) on behalf of the executive Committee of NNPP at 44 local government areas of the state was filed against the New Nigerian Peoples Party (NNPP) as defendant, challenging their dissolution.

In the interim injunction, Justice Saminu also directed all parties to maintain Status-Quo-Ante as at 30th December, 2025, prior to the purported dissolution directive issued by the NWC of the party.

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“After hearing on the matter filed by K.K. Njidda Esq with S.A. Muhammad Esq counsels to the Applicants the court hereby order an interim injunction restraining the Defendant/Respondent either by himself, his agents, privies cohort, ad-hoc Committees, National Working Committee or any other persons acting on its Instruction howsoever described from appointing Caretaker Committees for the State, Local Government and Ward levels Executives of Kano State or taking any further step In respect of the subject matter of this suit pending the hearing and determination of the Motion on Notice filed before this court.

“An order of interim injunction mandating the Defendant/Respondent maintain STATUS QUO ANTE as at 30 December, 2025 prior to the purported dissolution of the Kano State, Local Government and Ward levels executives pending the hearing and determination of the Motion on Notice.

“AN ORDER of this Honorable Court granting the Plaintiffs/Applicants to issue and serve the process in this suit on the Defendant at its National Secretariat situate at 11 Mahatma Gandhi Street, Area 11, Garki Abuja, Nigeria which is the outside the jurisdiction of this court”. A copy of the order as signed by Abba Sa’ad, registrar read.

Recall that the NWC of the NNPP declared the dissolution of the executive Council of the party across the party structure in Kano following the suspension of Hon. Hashim Dungurawa as Chairman of the party in the state. Dungurawa has been replaced by Abdullahi Abiya in acting capacity.

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