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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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Court Adjourns Nafiu Gombe’s Suit Challenging Mark’s Leadership of ADC

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By Yusuf Danjuma Yunusa

The Federal High Court in Abuja on Wednesday adjourned a suit filed by Nafiu-Bala Gombe against Sen. David Mark-led leadership of the African Democratic Congress (ADC), until June 8 for hearing.

Justice Peter Lifu adjourned the case after Gombe’s lawyer, Robert Emukpoeruo, SAN, applied for an adjournment following the absence of counsel to parties seeking to join the suit in court.

When the case was called, only the Independent National Electoral Commission, INEC, and parties seeking joinder were not represented in court.

Although it was confirmed from the court record that INEC was duly served with hearing notice, parties seeking to join were not served.

Counsel to ADC, Shaibu Aruwa, SAN, called the attention of the court to the history of the suit in relation to parties applying for joinder.

He said the former trial judge, Justice Emeka Nwite, had taken judicial notice of them in the previous proceedings.

Aruwa, therefore, urged the court to accord the parties seeking joinder the same respect to come and say why they needed to be joined in the interest of fair hearing.

Besides, he said issues had already been joined with the parties seeking to join the case, and that the plaintiff was in the know.

Responding, Emukpoeruo gave a titbit about the Supreme Court judgement which ordered for an accelerated hearing of the case, in line with the earlier Appeal Court judgement.

The lawyer, who applied that all pending processes be filed and served, sought an adjournment to give the parties seeking to join the leverage for fair hearing.

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ADC’s counsel, Aruwa; Suleiman Usman, SAN, who appeared for Sen. David Mark; Realwan Okpanachi, who represented Ogbeni Rauf Aregbesola and P. I. Oyewole, lawyer to Chief Ralp Nwosu, did not oppose the application for adjournment.

The defence counsel however informed the court that the attitude of the plaintiff, in applying for the reassignment of the case when the matter was before Justice Nwite, had allegedly frustrated the order of accelerated hearing of the apex court.

But Justice Lifu, who said that nobody has the right to choose which court his case should be determined, said based on the directive of the chief judge who assigned the case to him and the Supreme Court decision for accelerated hearing, he was bound to do justice to the matter.

The judge said the court would take the full responsibility for inability to effect service of the hearing notices on the parties seeking to join the suit.

He subsequently adjourned the matter until June 8 for hearing.

Justice Lifu, who ordered accelerated hearing of the case, directed the bailiff of the court to serve all the parties seeking to be joined in the suit within 24 hours of the order.

“In the circumstances of this case and overall interest of justice and order of the Supreme Court and the Appeal Court, this case is hereby given accelerated hearing,” he said.

He ordered all the parties to file and serve all their processes before the next adjourned date.

The aggrieved former National Deputy Chairman of ADC, Nafiu Bala, had filed the suit marked: FHC/ABJ/CS/1819/2025.

The plaintiff, in the suit, is seeking an order restraining Mark, the embattled National Chairman of ADC; Aregbesola, the National Secretary, and members of their interim National Working Committee (NWC) from parading themselves as the party’s leaders.

He had argued that the emergence of Mark, Aregbesola and other NWC members as party’s leaders breached the provisions of the party’s constitution and the Electoral Act.

Gombe had sued ADC, Mark, Aregbesola, Independent National Electoral Commission (INEC) and Ralph Nwosu as 1st to 5th defendants respectively in the suit.

Nwosu was the former ADC National Chairman who stepped down for David Mark leadership of the party.

The former Vice President Atiku Abubakar emerged as ADC presidential candidate on May 27 after defeating two other aspirants, including Rotimi Amaechi, former Minister of Transportation, at the party’s national convention.

Also, Dumebi Kachikwu, in a national convention conducted by another faction of ADC, emerged the presidential candidate of the party for the 2027 general election.

The 2023 presidential candidate of the party was adopted by factional members of the party as sole presidential candidate on May 24.

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Court Sentences Four to Death over Owo Church Massacre

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By Yusuf Danjuma Yunusa

The Abuja Federal High Court on Wednesday sentenced four members of the Al-Shabaab terrorist group to death by hanging for their involvement in the June 5, 2022, attack on St. Francis Catholic Church, Owo, Ondo State, which left more than 40 worshippers dead and over 100 others injured.

The trial judge, Justice Emeka Nwite, made the declaration after convicting Idris Abdulmalik Omeiza, 25; Al Qasim Idris, 20; Jamiu Abdulmalik, 26; and Abdulhaleem Idris, 25, on a nine-count terrorism charge filed by the Department of State Services on behalf of the Federal Government.

The court, however, discharged and acquitted the fifth defendant, Momoh Otuho Abubakar, 47, after finding insufficient evidence linking him to the terrorist attack.

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In the judgment, Justice Nwite held that the prosecution successfully established the guilt of the four convicts beyond reasonable doubt, noting that the evidence before the court clearly showed that they were members of, and active participants in, the activities of the terrorist group responsible for the deadly church attack.

The court found that the convicts were principal members of an Al-Shabaab terrorist cell operating in Kogi State and that they took part in the assault on the church during a Pentecost service.

According to the prosecution, the attackers stormed the church, held worshippers hostage, and unleashed violence that resulted in massive casualties and destruction.

They were said to have used improvised explosive devices and AK-47 rifles in attacking furtherance of their extremist religious ideology.

To establish its case, the prosecution called 11 witnesses and tendered 23 exhibits, including confessional statements and a digital forensic examination report.

Among the exhibits admitted by the court was a technophone device alleged to contain communications exchanged by the defendants before and after the attack.

One of the prosecution witnesses, a Catholic priest who survived the incident, gave a chilling account of how the assailants detonated at least three explosive devices inside the church, triggering panic and bloodshed among worshippers.

Justice Nwite held that the totality of the evidence presented by the prosecution firmly linked the four convicts to the attack and justified their conviction on the terrorism charges.

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Insecurity:Sack Service Chiefs, Pastor Adeboye Urges FG

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By Yusuf Danjuma Yunusa

The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has urged the federal government to give Nigeria’s security chiefs a 90-day deadline to eliminate terrorists across the country or resign from office.

Adeboye made the call in a video shared on X on Tuesday in which he expressed concern over the country’s security situation and urged authorities to act swiftly against those responsible for the violence.

Addressing the government, the cleric said security chiefs should be held accountable for delivering results in the fight against terrorism.

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“If I were asked to make suggestions, I would say quietly to our government, ‘Move fast and tell our security chiefs, get rid of these terrorists within 90 days or resign,” he said.

The cleric also called on the government to go beyond targeting terrorists and focus on those financing and supporting their activities.

“When giving orders to the service chiefs this time around, we should make it clear to them that they are not only to eliminate the terrorists; they should eliminate their sponsors, no matter how influential they may be,” he added.

Adeboye recalled advising a former Nigerian president to issue a similar ultimatum to security chiefs in the past, noting that although the directive was given, it was not fully enforced when the deadline elapsed.

According to him, the experience underscored the need for stronger political will and strict enforcement of directives aimed at ending insecurity.

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