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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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Breaking:President Tinubu Appoints Special Adviser On Security

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President Bola Ahmed Tinubu, GCFR, has approved the appointment of Major General Adeyinka A. Fadewa (Rtd) as Special Adviser on Homeland Security, in recognition of his exceptional record of service, strategic expertise, and outstanding contributions to Nigeria’s national security architecture.

 

In a circular signed by the Secretary to the Government of the Federation, Sen. George Akume, CON, which was issued by the Permanent Secretary General Services Office, Dr. Ibrahim Abubakar Kana, mni, the appointment underscores the commitment of the administration of Bola Ahmed Tinubu to strengthening internal security coordination, enhancing intelligence-driven operations, and deepening inter-agency collaboration in addressing emerging security threats across the country.

 

Major General Fadewa (Rtd) is a highly decorated retired General with over three decades of distinguished military and intelligence service spanning national security strategy, intelligence fusion, counter-terrorism operations, and international security diplomacy. His career reflects a rare blend of operational excellence, strategic foresight, and institutional leadership in safeguarding Nigeria’s territorial integrity and national interests.

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As Principal General Staff Officer to the National Security Adviser at the Office of the National Security Adviser (ONSA) from 2015 to 2021, he played a pivotal role in shaping Nigeria’s modern intelligence coordination framework. He spearheaded the establishment of the Intelligence Fusion Centre (IFC) at ONSA, creating an integrated multi-agency intelligence platform that brought together the Defence Intelligence Agency (DIA), National Intelligence Agency (NIA), Department of State Services (DSS), the Nigeria Police Force, and the Armed Forces to improve national threat assessment and strategic response coordination.

 

Following his retirement from active military service, Major General Fadewa (Rtd) served as Senior Research Fellow at the Nigerian Army Resource Centre, Abuja, where he continued to provide strategic thought leadership on policing, civil-security cooperation, and national security reform. His scholarly contributions include the widely acclaimed monograph titled “Policing and National Security in Nigeria,” which offers practical frameworks for strengthening civil-security collaboration.

 

President Tinubu expressed confidence that the appointment of Major General Fadewa (Rtd) will further enhance the administration’s efforts toward achieving a safer and more secure Nigeria through improved coordination of homeland security initiatives, intelligence integration, and proactive risk management.

 

He also urged him to deploy his wealth of experience, professionalism, and strategic insight in advancing national security objectives and supporting the administration’s Renewed Hope Agenda.

 

E- Signed:

Chris Ugwuegbulam

Head, Information & Public Relations

11th May, 2026.

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Governor Yusuf Approves 200 Riyals Support, Ihram for Each Kano Pilgrim

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Kano State Governor, Alhaji Abba Kabir Yusuf, has approved a cash support of 200 Saudi Riyals and Ihram to each intending pilgrim from the state for the 2026 hajj exercise.

 

Governor Abba Kabir Yusuf, represented by his Deputy, Murtala Sule Garo, disclosed this on Sunday during the launch of the practical demonstration session organised by the Kano State pilgrims Welfare Board for prospective pilgrims in Kano.

 

Speaking at the event, Alhaji Murtala Sule Garo explained that the exercise was organized to educate, inform, spiritually prepare the intending pilgrims for the Hajj rites from Ihram to Tawaf, from Sa’i to Arafat, from Muzdalifah to Mina and the symbolic stoning of the Jamarat.

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He stated that the administration of Abba Kabir Yusuf remains committed to the welfare and well-being of all the pilgrims from the state.

 

Garo said, “This demonstration is a vital aspect of Hajj preparation. Hajj is not merely a journey of travel; it is a sacred act of worship that requires adequate knowledge, discipline, patience and sincere devotion to Allah.”

 

Garo further conveyed the Governor’s goodwill gesture to the pilgrims.

 

He added, “I also wish to give the good tidings to our pilgrims that the Kano State Government has approved the sum of 200 Saudi Riyals and Ihram to each and every intending pilgrim as a compliment from His Excellency, Governor Abba Kabir Yusuf.”

 

The Deputy Governor also revealed that the administration has secured conducive accommodation arrangements to ensure the comfort and convenience of the pilgrims throughout their stay in Saudi Arabia.

 

According to him, the state government has equally deployed well-trained medical personnel to complement healthcare services provided by the National Hajj Commission of Nigeria (NAHCON), saying qualified Islamic scholars have also been selected to provide spiritual guidance during the exercise.

 

He urged the intending pilgrims to be worthy ambassadors of Kano State and Nigeria by obeying the laws of Saudi Arabia and conducting themselves with discipline, humility, and responsibility throughout the pilgrimage.

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6 Kano Central Senatorial Aspirants Withdraw for Senator Ibrahim Shekarau

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Six Kano Central senatorial aspirants have withdrawn for Senator Ibrahim Shekarau in the forthcoming 2027 general election.

One of the senatorial aspirants and a former Kano State Head of Service, Alhaji Usman Bala Muhammad, stated this while addressing journalists at Aminu Kano House in Abuja.

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Those that Withdraw for Malam Ibrahim Shekarau are Dr Muhammad Zango,Alhaji Danyaro Yakasai,Usman Bala Muhammad ,Shaaban Ibrahim Sharada and Shehu Isah Direba.

 

The aspirants have already purchased their nominations forms and submitted to APC secretariat before they were called for a consensus by Governor Abba Kabir Yusuf.

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