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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.

“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.”

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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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Workers Day: HoR Minority Caucus commends workers sacrifices, urges FG to address economic challenges, pay living wage

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As workers celebrate globally on May 1st, the House of Representatives Minority Caucus has commended Nigerian workers sacrifices, contributions to development urging the Federal Government to address growing economic challenges and pay living wage.

This was contained in a solidarity message in commemoration of May Day by the Minority Caucus leaders, Rep Kingsley Chinda, Leader, Rt. Hon. Ali Isa J.C
(Minority Whip) Rt. Hon. Aliyu Madaki (Deputy Minority Leader)
Rt. Hon. George Ozodinobi
(Deputy Minority Whip) saying:

“The Minority Caucus of the House of Representatives, felicitates with Nigerian workers for its critical roles as a major contributor to national growth and development.

“Today, gives us another opportunity to have sincere reflections, and objective introspection about the state of the nation; and acknowledge that the Nigerian workforce, being the engine room have collectively given its best in the circumstances.

“The Caucus notes with serious concerns the disturbing social, economic, and political situations which are not only fearful, but also stifling the personal development of our people, particularly the workers. From galloping inflation to debilitating hunger, overarching hardship, and corrosive poverty, the Nigerian worker has been the main victims of these and more negative indices.

“Deeply concerned about the decline of the economy, renewed insecurity, accentuating job losses, and numerous other indices of under-development which is affecting the performances of workers in maximally carrying out their functions as the backbone of government activities.

“The Caucus urges Federal Government to take deliberate actions towards instilling confidence in workers.

Also, there must be pro-active, and intentional decisions by the Federal Government in not just addressing these negative issues but seeking ingenious ways towards improving the remuneration, welfare packages, and other incentives of Nigerian workers who are entitled to living wage and not minimum wage.

“Conscious of the fact that true nationhood is a collective, and continuous task, the Caucus enjoins the Federal Government to relate with the Nigerian Labour Congress, (NLC), Trade Union Congress, (TUC), and other relevant workers associations as major stakeholders in every efforts towards re-building, and re-positioning the country.

“Also, these labour bodies and others; that are umbrella institutions for all Nigerian workers should show commitment, and considerations by collaborating effectively with the Federal Government where and when necessary.

“As a responsive and responsible group, the Caucus is confident that when all stakeholders harness our strengths, Nigeria will progress from being a nation with enormous potential to one that will assume her rightful position among the comity of nations.

“We wish members of the Nigerian Labour a very fruitful celebrations.

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Despite Sacking of Palace Guards, Emir Bayero Attends Qur’anic Graduation in Style

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The 15th Emir of Kano Alhaji Aminu Ado Bayero has attended the Qur’anic Graduation of an Islamic School at Kwalli Quarters of Kano Municipal with a mammoth crowd.

This is the 3rd Qur’anic Graduation of the school which was founded by Alhaji Aminu Babba Dan’agundi, a kingmaker and Sarkin Dawaki Babba of Kano Emirate.

Bayero who was accompanied by District Heads and well wishers urged the 72 graduands to imbibe and put the teachings of the Qur’an into practice.

He commended the teachers for their tireless effort in institutionalising learning and good character on the Students.

“Education is the most important thing you can give to your children, Islamic education and knowledge of the Qur’an should be given utmost priority by parents at a time moral decadence in our society is becoming rampant”. He said

 

This is coming a day after the sacking of some palace officials on the orders of the state government.

Despite the sacking, politics Digest reports that a large number of youth were seen in a new place guard uniform.

Zakari Uba, told this paper that he volunteered to serve the Emir on his own, out of love and patriotism.

This is the first time Bayero will make an official outing to the Kano city since his dethronement by the Kano State Government.

A source told this paper that the Emir decided to attend the graduation following an order of the court on the maintainance of status quo.

As it stands today, Aminu Bayero is the legitimate Emir of Kano says Sarkin Dawaki Babba Aminu Babba Dan’agundi in an interview with Arise Television.

“The Emir came out and return back home peacefully, nothing like he was booed or stoned. If it is the other one, the story could have been different. Did you see a single thug in Bayero’s entourage? He asked

One of the letters of the sacking was all over the social media where a Senior Clerical Officer of the Kano Emirate Muhammad Gidado Muhammad was fired for no reason.

The letter which was dated 25th March 2025 and signed by Alhaji Abba Yusuf, the Secretary of the Alhaji Muhammadu Sanusi II led Kano Emirate.

Politics Digest exclusively gathered that it was backdated because the victim received it 2 days ago.

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Senator Natasha Akpoti-Uduaghan Stands Firm on Sexual Harassment Lawsuit.

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Senator Natasha Akpoti-Uduaghan has reaffirmed her commitment to pursuing her sexual harassment lawsuit against Senate President Godswill Akpabio, vowing to see the case through to its legal conclusion.

Despite calls from Akpabio’s lawyer, Olisa Agbakoba (SAN), urging her to withdraw the suit or provide extrajudicial clarification, Akpoti-Uduaghan has insisted that such matters must be resolved within the judicial system. She emphasized that the assessment of evidence belongs to the courts alone and rejected any attempts to circumvent due process.

The senator further accused Akpabio of leveraging media narratives to manipulate public perception while evading institutional accountability. She warned against efforts to litigate the matter outside the courtroom, stressing that legal proceedings should not be undermined by external pressures or public relations tactics.

Akpoti-Uduaghan’s lawsuit has drawn national attention, with legal experts and political observers closely monitoring the unfolding case. As the legal battle continues, she remains resolute in her stance, advocating for due process and institutional integrity in addressing allegations of misconduct.

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