Connect with us

Government

Lagos Pays N170m Deceased Workers’ Beneficiaries

Published

on

lagos
  • Lagos Pays N170m Deceased Workers’ Beneficiaries

The Lagos State Government, through its Pension Commission, LASPEC, has disbursed N170 million as payment of insurance benefits to the named beneficiaries of deceased employees. Director-General, DG, LASPEC, Mrs. Folashade Onanuga disclosed this at the 2016 Senior Citizens/Pensioners Day celebration, in Ikeja.

According to Onanuga, “Today, we are celebrating the beginning of your financial independence. Retirement Benefit Bond Certificates will be presented to a total number of 495 retirees. The amount that will be redeemed into the Retirement Savings account of the beneficiaries is N1.9 billion.

Terminal salary

“The state government, through the Commission has paid to named beneficiaries of deceased employees, insurance benefit worth the sum of over N114 million. She is set to pay another N56.1million death benefit today, bringing the total to approximately N170million.

“The insured death of 320 percent of the terminal salary of a deceased staff is designed by Law to be paid to alleviate the immediate needs of the family members left behind.

“The Estate of a deceased staff is also entitled to receive the balance in the retirement account and accrued rights due, if the employee had joined service before the commencement of the CPS.

“This feat is a clear indication that Contributory Pension Scheme is working perfectly well in Lagos State.”

She expressed profound appreciation to service providers, Pension Fund Administrators, PFAs, the Insurance Companies, and the staff for their commitment to the scheme.

Onanuga informed that at present, only programmed withdrawal benefit option is tenable pending the time, that Life Insurance Companies would open operational account jointly with Pension Fund Custodians, PFCs, to secure the Pension funds for the payment of annuity entitlements.

She urged all beneficiaries to take very good care of their health, as well as desist from frivolous spending. “Do not desire quick gains that would make you fall victims of fraudsters,” he said.

In his address Chairman of Nigeria Union of Pensioners, Lagos Council and South West, Nojeem Ibrahim, commended the present administration in the state, noting that since Ambode assumed office, monthly salaries of workers and pensions have been paid regularly.

Ibrahim, recalled when Ambode, who is now a pensioner, paid the first three years arrears of 142 percent accrued pension when he was the Accountant-General of the state.

The chairman however, made the following requests from Ambode which include; Payment of the remaining gratuities of all affected, mostly local government, primary school teachers and parastatals, payment of benefits to Next-of-kin of affected deceased pensioners, harmonization of all pensioners in the state as they were all affected by recession and construction of a befitting office of the state council of Nigeria Union of Pensioners.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Government

University Of Ibadan (UI) Goes Digital, Releases Timetable for Virtual Academic Session

Published

on

University Of Ibadan (UI) Goes Digital, Releases Timetable for Virtual Academic Session

University of Ibadan (UI) on Friday announced it is going ahead with resumption on February 20 despite the second wave of COVID-19.

In a statement released by the school, the First Semester of the 2020/2021 academic session will commence virtually on February 20, 2021.

The virtual academic session will last for 13 straight weeks and end on Friday May 12, 2021, while the matriculation ceremony will hold on Tuesday March 16, 2021.

The University of Ibadan also scheduled one week for the Finalization of Continuous Assessment, to begin from Mon. 17 May and ends Friday 21 May.

The rising number of COVID-19 cases has compelled the Senate to approve the virtual academic session in an effort to ensure the tertiary institution abides by the protocols established by the Federal Government to curb the spread of the pandemic.

“It, therefore, agreed that the 2020/2021 First Semester lectures will be delivered online. In this regard, students will not be accommodated on campus,” a statement from the school said.

“Senate also approved the cancellation of the 2019/2020 session. The next session is, therefore, renamed 2020/2021 Academic Session. Consequently, students who have been admitted for the 2019/2020 session will now be regarded as the 2020/2021 intakes.

“Kindly note that online opening of Registration Portal and Orientation Programme for the 2020/2021 intakes may commence ahead of the Sat 20/02/21 date indicated above,” the statement said.

Continue Reading

Government

House of Representatives Impeached Trump Over Capitol Invasion

Published

on

House of Representatives Impeached Trump Over Capitol Invasion

The United States House of Representatives on Wednesday impeached President Trump for the second time after instigating the US Capitol invasion.

Led by Speaker of the House, Nancy Pelosi, 232 representatives, including 10 Republicans, voted to impeach the outgoing president against 197 that voted for him to remain in the office for the next six days when he would handover to the president-elect, Joe Biden.

The ten Republicans were Representatives Liz Cheney of Wyoming, the party’s No. 3 leader in the House; Jaime Herrera Beutler of Washington; John Katko of New York; Adam Kinzinger of Illinois; Fred Upton of Michigan; Dan Newhouse of Washington; Peter Meijer of Michigan; Anthony Gonzalez of Ohio; David Valadao of California; and Tom Rice of South Carolina.

Speaking before the vote, Pelosi said “a constitutional remedy that will ensure that the Republic will be safe from this man who is so resolutely determined to tear down the things that we hold dear and that hold us together.”

“He must go. He is a clear and present danger to the nation that we all love,” she said, adding later, “It gives me no pleasure to say this — it breaks my heart.

Republicans, who unanimously stood behind president Trump in 2019 during his first impeachment, were divided this time over the attack on Capitol.

A Republican representative from California, Kevin McCarthy, said “The president bears responsibility for Wednesday’s attack on Congress by mob rioters,” Mr. McCarthy said. “He should have immediately denounced the mob when he saw what was unfolding.”

Continue Reading

Government

US Congress Declares Joe Biden as The 46th President of The United States After Trump Mob Left

Published

on

Joe Biden Economic Impliccations on Nigeria

US Congress Declares Joe Biden as The 46th President of The United States After Trump Mob Left

The joint congress of the United States on Thursday, January 7, 2021 certified Joe Biden as the 46th President of the United States following President Trump’s mob action that disrupted the congress joint proceeding on Wednesday.

After ordering his followers to disrupt proceedings on Wednesday, President Trump later announced that there will be an orderly transition on January 20.

Even though I totally disagree with the outcome of the election, and the facts bear me out, nevertheless there will be an orderly transition on January 20th,” Trump said in a statement issued by White House Deputy Chief of Staff Dan Scavino.

“I have always said we would continue our fight to ensure that only legal votes were counted. While this represents the end of the greatest first term in presidential history, it’s only the beginning of our fight to Make America Great Again!” Trump added.

While the certification was just a mere formality as Biden had secured enough electoral college votes (270) required to clinch the world’s most powerful seat, the refusal of Donald Trump to accept the results of the November 2020 election made the session a keenly watched, especially after Trump mob disrupted a joint session of the Senate.

Also read Facebook, Twitter, Instagram Lock President Trump Out of Their Platforms Following Insurrection

Continue Reading

Trending