Friday, 27 January 2017

Read How University Can Save Nigeria’s Economy From Depression

Idea of establishing a university is to develop human skills capable of solving various problems in the society.
Such skills are expected to be developed from different courses and disciplines. University, which is often called gown, presents a great opportunity to earn money as well as a degree when appropriate techniques are employed in imparting the needed knowledge on the students.
Having discovered that government and private businesses cannot provide white collar jobs sought after by 1.8 million graduates in Nigeria yearly, the federal government in 2006 set up entrepreneurship studies, and made it compulsory for students of higher institutions irrespective of area of specialization.
Since entrepreneurship became compulsory course in most of the country’s institutions, what has been its contributions in churning out entrepreneurs from the universities? Despite being enshrined in the university’s curriculum, a number of graduates are still seeking employment in various establishments.
It has been discovered that some of the lecturers who teach the course do not have entrepreneurial skills sufficient enough to equip the students for the challenges ahead. No doubt that a great number of them have proven teaching skills –imparting knowledge in line with best global practices, but there is still a need to move from traditional way of teaching.
They need to be more innovative in crafting industrial-related course’s plan that would produce successful business owners beyond the campuses. Information about marketable ideas should be prioritized and acquired by the students in their preparation into entrepreneurship rather than job-seeking world.
In advanced countries such as United Kingdom and United States of America, where entrepreneurship is also compulsory for students, emphasis is more on teaching the students on how to address lifetime goals and personalized such for creating successful businesses.
This is not only important to these countries in their quest towards rolling out successful entrepreneurs from their universities, having access to resources on campus is also crucial.
Strategically, the countries ensure that student start-ups have access to physical office space and a means to accelerate their ideas on campus. Nigeria has a lot to learn from these countries considering the number of graduates coming out from our universities every year as against the number of available jobs both in the public and private sectors.
Government at all levels also need to double their efforts towards entrepreneurship development through government, university and professional advisory partnership.

Sunday, 12 June 2016

Dead body of Amodu Shuaibu

Update : Dead body of Amodu Shuaibu at his home town, Okpella in Edo state.


When i heard this i cried, Amodu Shuaibu came to Benin to beg for his 17 months unpaid salary from the Edo State Government. In the evening of yesterday, his wife called him to say they were starving at home and the man became agitated. Soon after, he complained of chest pain and he later died at night. His corpse has since been buried, with Edo State Government officials from Etsako area shedding crocodile tears.

The Edo State Commissioner for Sports was slapped severally at the mortuary.

Am not surprised at this very appalling scenario in Edo State because many pensioners are owed as much as 42 months, Judicial workers are owed at least 9 months, just as many other State Government workers under the aegis of COEASU including LGA workers like for example, Egor LGA workers are being owed 16 months salaries.

This is Wickedness in its Highest Order.

Why will any Sane Government torment her citizens all in the name of Change???

#RIP #....

Thursday, 9 June 2016

Boko Haram Displays Arms Captured After Attacking Yobe Town


According to Terror Monitor, an organization which closely monitors and reports terrorists actions globally, Islamic State affiliate group Boko Haram has showed off arms, ammunition and other items captured after a recent attack on Kanamma town of Yobe State, north east Nigeria.
According to reports, residents said the insurgents stormed the town on Monday night, shooting sporadically, before attacking the Divisional Police Station of the area and some shops in the town.
According to them, the insurgents were on rampage in “search of food” and consumed beverages among other eatables in the shops.
The Yobe State Commissioner of Police, Mr Chika Maidam, who confirmed the attack said the insurgents, who came in their numbers, attacked the Divisional Police Station of the area.
He revealed that three of his men were injured during the raid but have been treated at the Geidam General Hospital and discharged.

Thief Who Stole Generator In Sapele Caught In The Act

A thief in Sapele known as Godstime has been nabbed by some youths in the town after a failed attempt doing his act.
According to a Source who leaves in the area (Shell Road), Orodje grammar school area Sapele, sent this in and we confirmed it.
His victim known as Ese Imoni, found his documnet with him and also stole their Generator set which the said Godstime placed in a sack back.
After he was confronted, he could not say anything, rather he had to be begging for mercy saying it is the work of the devil.
Reports gathered from the Shell road residents also confirmed to us that there have been increase in the case of theft in the area for some months now, this occurs on a weekly basis..
Godstime was later given some beaten of his life and handed to the securities.

Open Letter To FG – Scrap NYSC

I have read online about the purported postponement of the NYSC. I have decided to compile several reasons why the NYSC should be scrapped.
I don’t want this to come across to you as a political propaganda, I am neither for APC nor PDP I only represent myself in this view and a few others who will see reason with this. I fully represent NIGERIA.
Dear Mr President, DG NYSC and Mr Senate president,
I write to you with great respect because its not easy to be a leader and I humbly present my case that the NYSC scheme should either be scrapped or redefined to fit into the future of this great nation. Permit me to start with the reasons why I think the scheme be scrapped or amended after which I will talk about probable amendments that could be implemented.
WHY THE NYSC SCHEME SHOULD BE SCRAPPED/AMENDED.
1. The scheme was created to help the nation heal quickly from the effects of the Civil war: Now the civil war is over and we should be focused on avoiding another war- an intra personal war. This is a war that a person fights with himself otherwise known as Confusion.
How do you expect someone who studied Biochemistry to teach intergtated science effectively? First of, the graduate studied Biochemistry and not Biochemistry education! The former is practical and field related while the latter has to do with class activities)
2. Too much money is expended on this scheme and there are no visible results: I personally believe that the money spent on the NYSC scheme will be enough to create jobs for these graduates. Its not yielding results because after the 1-year mandatory service most of the graduates are left jobless and without savings to start up a business of their own – they don’t have savings not because they don’t want to but because the cost of ‘survival’ is high. NOTE that I used ‘cost of survival’ and not ‘cost of living’ that’s simply because the latter is not affordable!
3. Looks Like A Use-and-dump Scheme: After the one year compulsory service I said earlier that the graduates end up as jobless people. This is because there is NO system, not to talk of having an organized one. The companies (most times schools) that the corpers are posted to milk them of every dime the FG is paying (a paltry 19,800 most of which will be spent on transport). These people will still rent an apartment if they are so unlucky to be posted to a state where they know no one (80% of youth corp members fall in this category).
4. No relevant experience is gained in most cases: I need not to talk too much about this but I’ll say a little.
Now, of what relevance is the teaching experience a Banking and Finance graduate gets from teaching a primary school student? He/she will be dealing with adults on the job after NYSC, he/she can’t probably use whatever experience gotten. Total Waste Of Time You’d Permit Me To Say!!!
There are lots of reasons I believe the scheme should be scrapped or amended but I’ll leave the rest to the readers of this letter.
I have included the Senate president as recipient of this letter because I know nothing can be done except through the senate. The NYSC was brought in through an ACT, that act has to be amended by the legislative arm of government.
Before I go ahead to the possible solutions, I know some big guns will not agree that the scheme be scrapped because of what they gain from the system, a not-well-organised system.
POSSIBLE SOLUTIONS
1. Scrap the whole scheme and use the funds put into the program to create jobs.
2. Let each person serve in their respective fields: Let the man who studied engineering serve with Julius Berger or ministry of works and let the man who studied Agriculture serve on a government farm and let them have the option of being fully employed after their service year.
3. Trainings: Should the scheme be scrapped, the government should make available free training centers for fresh graduates.
4. Soft loans: These loans should be given out to fresh graduates who wish to start up businesses without collecting collateral. There should be strict rules guiding the monitoring and implementation, defaulters should be punished.
These loans should be treated as a contract between the FG and the individual, the FG is contracting the young graduate to start a business and create jobs. That’s what happens when there are more businesses, more jobs are available.
I wish I could write more but I’m typing this from my phone, permit me to stop here.
I am Adebusoye Ademola and I think the NYSC should be scrapped or amended.
Nigerians what do you think about this?

Governor Olusegun Mimiko help in evironmental sanitation of Oja-Oba market in Akure

This morning Governor Olusegun Mimiko of Ondo state today visit Oja-Oba in Akure and helped in clearing refuse off the streets and the market area.
https://t.co/Be5UTSIqkk”

Some road to be patched in Ibadan

It is time @oyostategovt Min. of Works do some road patching in Ibadan, Iyangagu/Olubadan Stadium Rd.

Heavy Rain Fall in LEKKI

Present situation during rain fall @ LEKKI... In Lagos

Wednesday, 8 June 2016

Former Super Eagles coach Stephen Keshi is dead

Stephen Keshi, a former coach of the Nigerian national football team, the Super Eagles, is dead
– The sudden demise of the football legend was confirmed by his relatives and the Nigeria Football Federation
– According to Keshi’s family member, Ricky Aburimen, the Super Eagle’s former coach complained of a leg ailment
– He was rushed to Faith Hospital in the Benin Government Reservation Area, where he died at about 3am
Stephen Okechukwu Keshi, a former coach of the Nigerian national football team, the Super Eagles, is dead.
The Cable reports that the football legend died in the early hours of Wednesday, June 8, in Benin City, Edo state.
The sudden demise of the former international was confirmed by his relatives and close associates.
“He was not ill at all, never showed any signs of illness, but we suspect he never got over the death of his wife,” one of his close friends said.

Friday, 27 November 2015

B’Haram kills 18 in Niger

Nigerien authorities said that Boko Haram militants killed 18 people, including a local religious leader, in an attack on a village in the nation’s southern border area of Diffa . Justice Minister, Marou Amadou, who disclosed this in a statement said “Boko Haram has once again sent us into mourning. “Eighteen villagers were killed, including the Chief Imam of the village whose throat was slit by his own nephew,” he said. Amadou said eleven people were injured and a three-year-old girl was abducted, adding that the army was pursuing the “terrorists in all nooks and crannies of Lake Chad.” According to him, the gunmen stormed the village of Gogone near the shores of Lake Chad on foot and fired indiscriminately on residents. The Diffa region had suffered dozens of cross-border strikes since January by the extremist group whose stronghold in North-East Nigeria lies a few kilometres away. A state of emergency has been declared there in a bid to boost security, but the attackers often managed to flee across the River Komadougou, marking the border with Nigeria.

NYSC urges banks to grant corps members loan

The National Youth Service Corps has urged banks and other corporate entities and individuals to emulate the Bank of Industry which provided N2bn loan to finance corps members with good business ideas.
The Osun State Coordinator of the NYSC,  Mrs. Regina Iluebbey, said this in an interview with journalists on Friday on the sidelines of the swearing-in ceremony of 2015 Batch B stream II at the NYSC Permanent Orientation Camp in Ede, Osun State.
The NYSC boss said providing soft loans for  corps members with business ideas would assist in making them job creators and would help in solving the problem of unemployment confronting the nation.
She said, ” The Graduate Entrepreneurship Fund of the BoI with the NYSC is a laudable idea. We in the NYSC wish the scheme could be bigger than what it is now. Making it bigger will accommodate more corps members who have good ideas.
“We want other corporate bodies, banks and even wealthy individuals to emulate the Bank of Industry in this area. Many of these corps members you see have wonderful business ideas and this type of soft loans will help them to transform their ideas into thriving business enterprises.”
Also, Osun State Governor, Mr. Rauf Aregbesola, also said in his speech  that the nation must put in place various programmes which would assist the nation’s youths to be job captors rather than becoming job seekers.
The governor stated that the NYSC had been performing the functions its founding  fathers had in mind, saying the call for the scrapping of the scheme was wrong.
Aregbesola said, ” Nigeria is at present faced with economic challenges because of the dwindling oil revenue. Our over dependence on oil as a source of revenue has made us neglect other sectors of the economy. This period of economic recession in which we found ourselves has compelled us to realise the need for the development of other sectors of the economy.
“It is therefore important that Nigeria must strive to become a nation of producer rather than a nation of consumers of foreign goods. We must evolve our own industrial and agricultural technologies. Adequate programmes must be put in place to assist our youths to be job creators rather than job seekers.”

Sunday, 27 September 2015

Happy Birthday Sir!! Pastor David Oyedepo Turns 61 Today 

 Its Sunday September 27!! Its the birthday of one of Gods generals..A man anointed by God to spread the good news!!
The founder nd general overseer of Living Faith church aka Winners chapel -worldwide
Lets all pray nd wish him a happy birthday
Happy birthday sir.

Boko Haram attacks Kogi DSS office, frees 30 suspects

No fewer than 30 people detained at the Kogi State office of the Directorate of State Service were freed on Friday night when it was attacked by gunmen suspected to be members of the Boko Haram sect.
This was as four people, including an anti-riot policeman, were reportedly killed in the attack by the invading insurgents.
The attackers were said to have immediately made for the cell of the DSS office located along Hassan Katsina Road, Lokoja, and released all suspects kept there after gaining entrance.
Our correspondent gathered that around 9.45pm on Friday, the gunmen with sophisticated weapons invaded the DSS office.
A source who spoke on condition of anonymity said the heavily armed men that stormed the DSS office appeared to have overwhelmed the DSS officials present, prompting a Deputy Director of the agency, whose name is yet to be ascertained, to quickly put a distress call to the police at about 10:40pm.
It was gathered that combined patrol teams of soldiers and policemen were later drafted to the place and they engaged the invaders in a gun duel for over seven hours.
The source said the security operatives later overpowered the attackers and some of them (invaders) fled into the bush.
He added that at the end of the shootout, the bodies of a policeman and three of the attackers were discovered.
The source further said two of the attackers fled to Otokiti Housing Estate and forced themselves into one of the flats occupied by a woman.
It was gathered that the woman quickly invited soldiers who responded immediately, arrested and took them away.
The Kogi State Police Commissioner, Mr. Emmanuel Ojukwu, confirmed the attack to journalists in Lokoja.
He said at about 9:45pm on Friday, criminal elements invaded the DSS office in Lokoja.
According to him, the prompt response of the police command led to the death of three of the attackers, while at the end of the operation the command lost a policeman.
He said he could not confirm whether or not the invaders succeeded in entering the DSS office.
Ojukwu said, “We are still investigating and we cannot say much for now until we are able to lay our hands on the suspects.
“We are working assiduously with other security agents in the state to ensure that we get to the root cause of the attack.”
Meanwhile the DSS has deployed operatives from its Abuja headquarters to Lokoja, Kogi State to hunt down Boko Haram suspects that escaped from its detention facility in the state.
Sources told our correspondent that the DSS was yet to have a definite number of the escaped suspects, adding that the Kogi State directorate was in the process of submitting the full list of the suspects to the DSS headquarters in Abuja.
A DSS source said, “The service is yet to ascertain the exact number of terror suspects that escaped during the attack, but the headquarters is expecting a full briefing on the incident, including the number of escaped suspects, number of dead or wounded personnel, number of re-arrested suspects and a detailed explanation of how the facility was attacked.
“A probe into the security breach has been initiated by the service headquarters and a squad has been dispatched to the state to help in re-arresting the fleeing insurgents; we expect recapture of some of the suspects within 24 hours.”

Father Rapes 11 Year Old Daughter And Impregnates Neighbors Daughter

A 46-year-old man, Morris Ndidwe, has been arrested by the Delta State Police Command for allegedly raping his 11-year-old daughter and impregnating a neighbour’s daughter in Delta State.
According to his wife, Ndidwe had tried on several occasions to rape his is 11-year-old daughter in the past before the last attempt that landed got him arrested.
His wife claimed that her husband’s behaviour made her end the marriage one time but only returned after several appeals and an assurance that he had changed.
She said she had initially moved out of her matrimonal home after her husband impregnated their neighbour’s daughter.
She said: “My daughter told me what she went through in the hand of her father whenever I was not around and when confronted, my husband denied, saying, he had stopped the act .
“One afternoon, I returned from church and caught him with our daughter. Again after much pleading, I relented on my resolve to end the marriage.”
“Last week, around 9pm, my husband drove me to the church for a vigil. He was alone with our children.
The following day when I returned, my daughter told me what her father did to her. When I decided to check her private part my husband refused and almost beat me, but my neighbours intervened.”
The 11-year-old girl has asked the police to fully prosecute her father and have him sent to jail so he doesn’t subject her to worse things in future.
The state police commissioner, Alkali Baba Usma,, confirmed the arrest and incident.

‘Partner with Buhari’

The Special Adviser to the President on Media and Publicity, Femi Adesina, has called for increased collaboration between the Muhammadu Buhari administration and the media to “build a new country”.
Adesina made the call at the formal presentation of ‘Nigerian Media Leaders: Voices Beyond the Newsroom,’ a book of conversations with media leaders authored by Richard Ikiebe of the School of Media and Communication, Pan Atlantic University.
He said, “Fortuitously, this book is being presented at a watershed time in the history of the country. The no-nonsense former military ruler, who had enacted Decree 4, meant to gag and shackle the press in the performance of its legitimate duties, is now a converted democrat, and champion of freedom of that same press, seeing the institution as a vital building block in national development.
“Instead of an adversary, President Muhammadu Buhari has turned full circle to see the media as allies, critical partners in the quest to build a worthy new Nigeria.”
The presidential aide therefore sought “a middle of the road policy, in which both institutions collaborate for the good and development of our country rather than an adversarial relationship.” He also decried a situation where the media pursues the government “as something to be harassed, hounded and hunted down.”
Adesina said the Nigerian media needed to collaborate and support the Buhari government because 30 years after he persecuted the press as a military head of state, Buhari had changed.
“The President is now in a democratic mode and has asked for the right hand of fellowship of the media,” he said.

Resign now, labour unions tell Saraki

Nigerian workers, under the umbrellas of the Nigerian Labour Congress and the Trade Union Congress, have asked the President of the Senate, Senator Bukola Saraki, to vacate his office pending the determination of his case at the Code of Conduct Tribunal.
The workers, who spoke across the country, said although Saraki is still on trial and has not been found guilty of the allegations against him, it is morally right for him to vacate his office as Senate President to defend himself.
The Office of the Attorney General of the Federation is prosecuting Saraki for alleged false declaration of his assets at the Code of Conduct Bureau.
Saraki had, last Tuesday, stepped into the dock at the CCT in Abuja, where he was arraigned for false assets declaration charges.
He pleaded not guilty to all the 13 charges slammed on him by the CCB and his trial has been scheduled to hold on October 21, 22 and 23.
Leaders of the NLC and the TUC, who spoke to SUNDAY PUNCH on Saturday, said it had become necessary for Saraki to step aside from Senate presidency to answer the charges preferred against him.
Organised labour had on, September 10, 2015, held nationwide protests against corruption, while seeking death penalty for public treasury looters.
Labour said it was only by killing looters that the anti-corruption crusade being championed by President Muhammadu Buhari could succeed.
President of the TUC, Mr. Bobboi Bala, in an interview with one of our correspondents, said Saraki has a moral burden to resign.
He said, “Resignation is a moral burden on people. But if somebody feels that he will carry his cross, go to the courts and try to exonerate himself, he should be given the opportunity. But it would be too bad if at the end of the day, he is found guilty. It does not speak well of public office holders.
“In other climes, as soon as such things happen, people tender their letters of resignation. Obviously, it is a moral burden on him. We hope all politicians will begin to know that no matter how highly placed they are, one day, they will definitely have to account for their stewardship.”
Several chapters of the NLC and the TUC across the states also asked for Saraki’s resignation on Saturday.
The Chairman, TUC, Ogun State, Mr. Olubunmi Fajobi, told one of our correspondents that if it were in a civilised clime, the Senate President would have stepped aside to allow for free and fair trial.
He said, “As it were, the Senate President is sitting on a delicate seat. If it were a civilised society, he would have stepped aside to allow for a fair trial, so that he won’t allow his official position to influence the decision of the tribunal.”
Also, the Ekiti State Chairman of the NLC, Mr. Raymond Adesanmi, advised Saraki to step down from office.
He said, “If it were in other climes, he would have resigned. My advice for him would be to step down as the Senate President to answer the charges against him. If at the end of the day he is not found guilty, he could return to his position.”
Adesanmi’s TUC counterpart in Ekiti, Mr. Adesoye Adedayo, corroborated him.
He said, “Although the case against him has political undertone, I would advise him to resign to prove his innocence.”
In Cross River State, the Chairman of the TUC, Mr. Clarkson Otu, who noted that labour unions had yet to meet to take a definite position on Saraki’s trial, said the Senate President should resign his position.
He said, “This whole thing is politics. The said irregularities allegedly discovered in Sariki’s assets declaration are issues before the CCT, but having got himself involved in this controversy, he should quit as senate president based on moral grounds.
“If he does not quit, he will keep battling to retain that position. This is my personal view and not that of the TUC.”
The factional Chairman of the NLC in Delta State, Mr. Williams Akporeha, the state chapter of the union was in support of Saraki’s resignation.
“We are saying that he should step aside because he is facing trial that borders on allegations of fraud and misinformation. He should resign on a clean slate instead of his continued stay in office in shameless aberration,” he said.
In the same vein, Chairman of the TUC in Delta, Mr. Myke Arinze, said, “Senator Saraki should resign and set the record straight because he cannot be facing trial and be dictating as Senate President.”
CNPP, CODER, SERAP, others ask Senate President to quit
Second Republic Governor of old Kaduna State and Chairman of the Conference of Nigerian Political Parties, Mr. Balarabe Musa, in an interview with SUNDAY PUNCH on Saturday, also urged Saraki to step down as Senate President as a show of respect for his office.
Musa said, “First of all, it depends on his conscience. If he knows that the allegations against him have anything bordering on genuineness and if he knows that he has not done anything above board, he should succumb to his conscience.
“In honour of the institution he represents, it is therefore best for him to resign in order not to undermine the position of the judge.
“If he knows that there are elements of truth in the allegations against him, he should not cost the government so much in court and thereby undermine the integrity of the bench; he should just resign. He is still young; he still has a lot of opportunities.”
Also, the Coalition against Corrupt Leaders called for Saraki’s resignation.
The Executive Chairman, CACOL, Mr. Debo Adeniran, said, “He should resign for now. If he is found to be innocent, then Nigerians would have reason to apologise to him and his dignity will be restored. If he continues to hold on to power, he is likely to lose more dignity; nobody will respect him for doing so.”
Similarly, the Socio-Economic Rights and Accountability Project described Nigeria as a peculiar place, where issues of probity, integrity and adherence to the rule of law would be questioned and politicians would continue to remain in public office “as if those things don’t matter.”
According to the Executive Director of SERAP, Adetokunbo Mumuni, in saner climes, when public figures would have such burden on them, the first thing to do would be to get off the seat to clear their name by virtue of the rule of law and due process.
Mumuni said, “If people are saying he should resign, I also support that move because as the number three man in Nigeria, he has not set a very good example. It is not a question of ‘If I was not declared senate president, nobody will remember what I did 10 years ago.’ Why didn’t he declare his assets when he was governor?
“If we are talking about equity, then we must be able to come to equity with clean hands. That is the way I see it. I have never been a subscriber to the idea of witch-hunting. Why can’t they just follow the law? The question of witch-hunting, to me, is neither here nor there. Did they comply with the law? I don’t believe in the idea that they have enemies somewhere.
“Why shouldn’t we do what is needful and proper and we now start talking about witch-hunting? Matters of criminal infraction don’t have limitations. I have never seen a defence to an infraction of law where one would say, ‘Some people were not dealt with, so I cannot be dealt with.’”
Also, the Convener, Coalition of Northern Politicians, Academics, Professionals and Businessmen, Dr. Junaid Mohammed, faulted those who call Saraki’s trial a witch-hunt. He said the Senate President should resign.
He said, “I believe it will be good for the Senate and the country – for political responsibility – for Bukola Saraki to resign. Unless that is done, his political influence will interfere in the process.”
In the same vein, the Coalition of Democrats for Electoral Reform said even though Saraki remained innocent until the tribunal finds him guilty, it had become morally necessary for the Senate President to resign from office.
Convener of CODER, Chief Ayo Opadokun, who was the General Secretary of the National Democratic Coalition and an ex-Secretary-General of the Afenifere, said it was not possible for all lawbreakers in the country to be tried at once. He said, “They have to be picked one by one.”
He said although other lawmakers in the National Assembly might have committed similar offences on assets declaration, Saraki’s trial would serve as a good lesson to others.
Opadokun said, “Saraki’s trial has more fundamental dimension because of the fact that someone crookedly emerged as leader of the Nigerian legislature and he has been charged for false declaration (of assets), which is a criminal offence and which carries significant punishment fashioned by the Nigerian criminal law system.
“He should resign to face the charges against him. He should have resigned long ago.”

Roads, power to benefit from N4.9tn pension funds

The Contributory Pension Scheme operators are considering investing part of the growing pension funds in long-term projects because most of the contributors are young workers who may not need their money very soon, investigation has revealed.
The total pension funds being managed under the CPS stood at N4.9tn at the end of May this year.
Statistics on the Retirement Savings Account registration by age and sector obtained from the National Pension Commission revealed that most contributors to the CPS were less than 40 years old.
According to the Pension Reform Act, 2014, only workers who have retired and are up to the age of 50 years can access the retirement funds under the pension scheme.
“An age distributional analysis of the RSA holders revealed that the largest proportion of the RSA holders is very young as almost 80 per cent of the members are below 50 years, and 51 per cent of the members are below the age of 40 years,” PenCom stated.
The commission said the demography of the scheme favoured putting pension funds in long-term investible instruments like infrastructure products, which could be used to bridge the yawning gaps in the nation’s infrastructural development.
In its report on the CPS, PenCom disclosed that 761,436 workers, or 11. 69 per cent of the contributors were less than 30 years.
It also revealed that 39.41 per cent or 2.5 million contributors were within the age bracket of 30 and 39 years.
According to the PenCom data, 1.7 million contributors (26.4 per cent) are between the ages of 40 and 49, while 1.2 million contributors (17.2 per cent) are between the ages of 50 and 59.
The data also showed that about 264,839 contributors (four per cent) were between the age bracket of 60 and 65, while 72,937 contributors (1.2 per cent) fell into the category of 65 years and above.
Under the guideline on investment, PenCom stated that pension fund assets could be invested in infrastructure through infrastructure bonds or infrastructure funds. It added that both outlets must meet the conditions for the investment of pension funds in infrastructure before the Pension Fund Administators could channel pension fund assets into such investments.
The commission noted that section 5.2.3 of the draft regulation on investment of pension fund assets provided that pension assets could be invested in infrastructure projects through eligible bonds, subject to two major conditions.
“The infrastructure project shall be not less than N5bn in value and awarded to a concessionaire with good track record through an open and transparent bidding process in accordance with the due process requirements set out in the Infrastructure Concession and Regulatory Commission Act and any regulation made pursuant thereto, and certified by the Infrastructure Concession and Regulatory Commission and approved by the Federal Executive Council,” it stated.
Another condition for the investment of pension assets in infrastructure is that the projects must have business plans and financial projections that indicate they are viable as well as economically and financially rewarding for investment by pension funds.
According to the statement, the bonds or Sukuks issued to finance the infrastructure project shall have robust credit enhancements including guarantees by the Federal Government or eligible bank/development finance institution or MDFOs and a maturity date that precedes the expiration of the concession.
It said it should also have a feasible and enforceable redemption procedure in the event of project suspension, cancellation or, in the case of regulated sectors, when changes in regulatory or policy decisions make the project to differ significantly from its original financial projections.
“Where infrastructure projects are financed through infrastructure funds, the value of the infrastructure fund shall not be less than N5bn and the infrastructure fund must have a well defined and publicised investment objectives and strategy as well as disclosures of pricing of underlying assets, including any other necessary information,” it stated.

Jega’s brother, Taraba emir, others die in Mecca stampede

A brother of the former chairman of the Independent National Electoral Commission, Prof. Attahiru Jega, Justice Abdulkadir Jega; another Justice of the Ilorin Division of the Court of Appeal, Justice Musa Hassan Alkali; the Emir of Zing and Ameerul-hajj of Taraba State to 2015’s hajj exercise, Abbas Ibrahim and two of his wives have been identified as being among those that died in Thursday’s stampede in Saudi Arabia, SUNDAY PUNCH has learnt
Abdulkadir Jega was a judge of the Court of Appeal and also a brother to the Editor-In-Chief of Daily Trust Newspaper, Mahmud Jega.
A family source told one of our correspondents that the body of the judge, who was a member of the Kebbi State Government delegation to the 2015 Hajj, was found in a mortuary in Mina, Saudi Arabia.
This is as the death toll from the stampede has risen to 769.
The Emir’s death was confirmed to journalists by the Chairman of the state Pilgrims Board, Hamman Tukur, who added that some pilgrims from the state were still missing.
It was reliably gathered on Saturday that about 100 Nigerians might have died in the stampede that occurred when pilgrims were going to perform the symbolic stoning of the devil in Mina, Saudi Arabia.
An official of the National Hajj Commission of Nigeria, who confided in Sunday PUNCH, said more Nigerian victims were discovered when the commission’s officials joined their colleagues from other countries’ in Mina morgue to identify their nationalities.
The Nigerian hajj officials are still compiling the list of Nigerians affected.
Other prominent Nigerians, who have been confirmed to have died in the stampede, included the Deputy Secretary General of the Nigeria Supreme Council for Islamic Affairs Professor Tijjani Abubakar El-Miskin and a veteran female journalist, Bilkisu Yusuf.
Meanwhile, the National Hajj Commission of Nigeria has begun a census of the country’s pilgrims in Saudi Arabia.
SUNDAY PUNCH reliably learnt that the commission started the census on Saturday following reports that some Nigerians pilgrims were still missing.
The commission had on Thursday sent its medical team to hospitals in Saudi Arabia to ascertain the number of the dead and the injured.
It was gathered that the commission embarked on the head count when it could not account for some pilgrims.
Findings showed that the NHCN was conducting the census state by state and that the figure of the dead and the injured would be released officially on or before Monday.
An official of the commission, who confided in Sunday PUNCH, said, “You will recall that on Thursday, our medical team went round hospitals. We are still collating the figures, but some pilgrims are still missing.”
The News Agency of Nigeria reported on Saturday that five pilgrims from Gombe State had been declared missing.
This is as the Sokoto State Government announced that nine pilgrims from the state were among those who died in the stampede.
In a statement in Sokoto on Saturday, the government said that its officials, led by the Amirul Hajj and leader of its delegation, the Deputy Governor, Alhaji Ahmad Aliyu, who was still in Saudi Arabia, confirmed the tragedy.
The Executive Secretary, Gombe State Muslim Pilgrims Welfare Board, Usman Gurama, in an interview with journalists   in Mina, Saudi Arabia, on Saturday said the board had not located the pilgrims since Thursday.
Gurama, however, said that seven pilgrims from the state were injured at the scene of the incident and were responding to treatment.
Meanwhile, former Vice President Atiku Abubakar on Saturday expressed sorrow over the incident.
Atiku said this in a statement by his Media Office in Abuja. The former Vice President described the incident as one of the saddest accidents to have befallen Muslims in recent times.
The state quoted him as saying “we are bound by our common humanity.” It also quoted Atiku as saying that “we learn lessons from these tragic incidents, and take precautionary measures to ward off future disasters.”
Also, the Sultan of Sokoto, Sa’ad Abubakar III, on Saturday in Sokoto, urged Saudi authorities to henceforth provide improved safety measures during the annual pilgrimage to Mecca.
The Sultan spoke on the sidelines of the presentation of the report of a technical committee set up by him to look into the state of the education sector in Sokoto State.
“The tragedy affected several countries of the world, Nigeria in general and Sokoto state in particular.
“Some local governments in Sokoto state like Illela, Binji, Gwadabawa and others were affected by the tragedy, although the actual casualty figures are still being ascertained by Saudi Arabian and Nigerian authorities,” he said.

Wednesday, 16 September 2015

FG plans special fund for roads, power

Vice-Presidential Prof. Yemi Osinbajo
The Federal Government is planning to set up an infrastructure fund in order to facilitate easy funding for critical areas of the economy.
The infrastructure fund, according to Vice President Yemi Osibajo, will be planned outside of the budget, to handle major segments of the economy such as road and power.
“Government is working out a document that would guide the administration within the four years of its life-span,” the Vice President told members of the National Economic Summit Group who paid him a visit on Tuesday in Abuja.
According to a statement by the Senior Special Assistant on Media and Publicity to the Vice President, Laolu Akande, the FG is also planning to use a zero-based budgeting format for its 2016 budget planning.
“Zero-based budgeting is planning according to needs and costs, different from the existing envelope budgeting or traditionally incremental budgeting whereby the planning is based on existing income and expenditure as the deciding factor in national financial planning levels, which often incurs waste and assumes previous costs as constant,” the statement explained.
The Vice President said the zero-based budgeting would be carefully coordinated to ensure that it is policy-driven, especially regarding the proposed social intervention policy of the Buhari administration.
Osinbajo said with the zero-based budgeting, the FG would also focus on a ‘bottom-up’ approach to development.
The Vice President who also met with a delegation from the Chartered Institute of Stockbrokers and the Association of Stockbroking Houses of Nigeria, told the NESG that the introduction of the new Treasury Single Account policy and its implementation by Ministries, Departments and Agencies was a creative way of blocking leakages in the system to make way for a workable budget.
During the meeting with the NESG, the delegation praised the government for the introduction of the TSA policy as a sound financial policy and offered to be part of the advocacy.
During his meeting with the CIS delegation and the ASHN, the Vice President disclosed that the government would explore the avenue of utilizing the capital market as another means of providing alternative funding options for the execution of capital projects.
He also observed that allowing retail investors to come into the nation’s capital market would deepen the market with potential for multiplier effects on other sectors of the economy.
The Vice President stated that some of the problems of the capital market were due to unethical practices by some market operators.
He added that those who caused the crash in the market in the past were not punished and called on the two bodies to engage in self-regulation as a means of protecting investors and the market.
In his remarks, the leader of the delegation and Acting President of CIS, Mr. Oluwaseyi Abe, commended the Buhari administration for what it had achieved within 100 days. He cited the feats to include security, power and the anti-corruption crusade.

Fire guts shopping mall, bank in Lagos

Fire guts shopping mall, bank in Lagos
Textile materials and fashion accessories estimated at millions of naira have been consumed after fire gutted a shopping plaza on Broad Street on the Lagos Island area of Lagos State.
Also, a section of the Skye Bank branch in Ikeja was gutted by fire, destroying some property.
PUNCH Metro learnt that the Lagos Island fire started around 8.55am after a power surge.
Workers at the plaza were said to have made frantic efforts to put out the fire before inviting officials of the Lagos State Fire Service and men of the Lagos State Emergency Management Agency.
While some traders watched helplessly as their goods burnt, others were said to have struggled to salvage their wares.
A firefighter with the state fire service, who spoke on condition of anonymity, said the fire started from the second floor of the three-storey building, adding that more than three fire trucks were deployed in the scene.
He said, “It is a three-storey shopping plaza where they sell female fashion items like bags, shoes and other accessories. The fire started from the second floor and was caused by an electrical surge. We were able to curtail the spread quickly.
“Firemen from the Onikan, Sari Iganmu and Alausa stations responded with 10,000 litres of water each.”
The General Manager of LASEMA, Michael Akindele, said there was no casualty in the incident, adding that some traders were able to save their wares.
“No life was lost and there were no injuries. Traders in areas not affected moved out their goods; everything is under control,” he added.
In the Ikeja incident, PUNCH Metro gathered that the server room of Skye Bank caught fire around 10.50am.
The prompt response of firemen from the Ikeja fire station was said to have prevented the fire from escalating.
Our correspondent was told by a firefighter that the fire was also caused by a power surge.
“They called the fire service on time and that was what saved the day. The fire started from their internet server room. There was a spark, which started a fire.
“But we were able to stand with them till the problem was fixed and banking operation resumed without much delay,” he added.
The Public Relations Officer of the Lagos State Fire Service, Amodu Shakiru, called for increased vigilance among residents.
He said, “Both fire were caused by electrical upsurge and that is why we always tell people to be cautious.
“You can use the back of your hand to feel the heat of your electrical gadget. When it is hot, you should know it is a potential hazard.”
Meanwhile, several people were injured and about five shops set ablaze on Monday after some hoodlums clashed at the Alaba International Market.
A source told PUNCH Metro that the clash was between some Yoruba and Igbo touts, who engaged in a supremacy battle over collection of fees.
A witness said the fight started around 9am, adding that business activities had been grounded as a result of the clash.
The Police Public Relations Officer, DSP Joe Offor, who confirmed the incident, explained that the clash was between the market’s transporters and traders unions.
“The transport employers association and the traders association were involved in the incident. The Alaba traders complained that the activities of the transport association were affecting their businesses. They said some of their customers were being harassed and intimidated to pay exorbitant fees, and they were losing them to their competitors.
“This morning, the traders challenged the transport association which led to a scuffle between the groups.”
He added that policemen from the Ojo division and some military officers had restored sanity to the area.