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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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New Defense Minister GC Musa Takes Oath of Office

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By Yusuf Danjuma Yunusa

President Bola Tinubu has sworn in General Christopher Musa (retd.) as the new Minister of Defence.

Musa, a former Chief of Defence Staff, took the oath of office on Thursday at the State House, Abuja.

Nigerian Tracker News had reported that the Senate on Wednesday confirmed Musa as Minister of Defence following a rigorous five-hour screening.

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During the session, the former CDS was grilled over recent security lapses, including the controversial withdrawal of troops from Government Comprehensive Girls Secondary School, Maga, in Kebbi State, shortly before schoolgirls were abducted on November 17.

He told lawmakers he would “immediately set up a full-scale investigation” into the troop withdrawal once he assumes duty.

Musa also vowed to probe the killing of Brigade Commander Brig-Gen. Musa Uba in Borno State, along with other attacks on senior military officers.

Musa’s nomination followed the resignation of former Defence Minister, Mohammed Badaru, reportedly on health grounds.

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KANSIEC Appoints Adhoc Staff for Ward Bye-Elections

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Prof Sani Lawal Malumfashi KANSIEC Chairman

 

The Chairman of the Kano State Independent Electoral Commission (KANSIEC), Professor Sani Lawal Malumfashi, has issued appointment letters to adhoc staff for the upcoming ward bye-elections in three local government areas of the state.

During the presentation of the appointment letters, Professor Malumfashi urged the adhoc staff to justify the trust and confidence the commission has reposed in them.

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He expressed his confidence in their ability to discharge their duties based on their level of education, experience, and track record of honesty and dedication.

The adhoc positions include 3 Returning Officers, 3 Electoral Officers, and 3 Assistant Electoral Officers for Dala (Kofar Mazugal), Dogowa (Maraku), and Ghari (Matan Fata) wards.

In a statement signed by Bashir Habib Yahaya media aid to the executive chairman said the Chairman appreciated security agencies, politicians, and the general public for their support and cooperation. The bye-elections are scheduled to hold on December 13, 2025.

 

 

 

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One Kano Agenda Raises Alarm Over Rising Insecurity

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Civic platform One Kano Agenda has raised alarm over rising insecurity in Kano State, warning that abductions, attacks, and suspicious activities are threatening both residents and the wider Northern region. The group made the call during a press conference in Kano on Wednesday , stressing that the state’s reputation for peace and hospitality is under strain.

According to the group adressed by its Chairman Abbas Abdullahi Yakasai said credible reports have emerged of unidentified individuals operating commercial motorcycles across several communities, particularly in Kano North.

Many of these individuals reportedly do not speak fluent Hausa, fueling suspicion among locals. The organization commended the Kano State Government for swiftly banning motorcycles in the metropolis and praised Governor Abba Kabir Yusuf’s introduction of the Safe Corridor program, which has absorbed over 2,000 youths into community security and intelligence structures.

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According to Abbas initiative said for the first time in Kano’s history that insecurity is being tackled through both rehabilitation and enforcement. Previous administrations, it noted, relied largely on force and political alliances. Residents were urged to report suspicious activities, avoid direct confrontation, and remain vigilant.

Abbas Abdullahi Yakasai further called on Emirate Councils and traditional leaders to strengthen coordination with district and village heads to ensure swift information flow to security agencies. The group also urged community members to cooperate fully with police, vigilante units, and intelligence frameworks, while encouraging security agencies to intensify patrols and surveillance, especially in border and transport areas.

The organization expressed concern over what it described as “reckless politicization” of security challenges by certain media outlets and political actors. It accused some of exploiting the situation for personal gain, pointing to reports of police redeployment from flashpoints to cemeteries, leaving vulnerable communities exposed. “Such actions embolden criminal elements to see Kano as a safe haven,” the group warned.

On recent directives involving a former governor and a senator, One Kano Agenda stressed the importance of due process and professionalism. It urged security agencies to act transparently and in compliance with constitutional provisions, regardless of the individuals’ status.

In its closing remarks, the civic platform announced plans for a “Peace Walk” and “Prayer for Divine Intervention” to unite residents and foster solidarity. Abbas Abdullahi Yakasai said the initiative, it said, would appeal for divine protection over Kano and Northern Nigeria. The group urged stakeholders, especially media and political actors, to prioritize public safety over personal gain.

 

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