News
Aggrieved Workers Transfer N483bn To New PFAs
Published
3 years agoon
By
Editor
No fewer than 109,522 workers have transferred their Retirement Savings Accounts to other Pension Fund Administrators since the National Pension Commission opened the transfer window in 2020.
Findings by The PUNCH revealed that the workers moved N483.3bn RSAs for different reasons.
The National Pension Commission disclosed this in its report titled ‘Quarterly Summary of Retirement Savings Accounts Transferred by Pension Fund Administrators’.
According to the figures, 2,799, 12,681 and 10,166 workers transferred N18.9bn, N47.78bn, and N35.89bn in the Q4 of 2020, Q1 of 2021 and Q2 of 2021.
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Similarly, 12,872, 12,874, 12,336 and 14,821 transferred N45.56bn, N42.49bn, N36.36bn and N50.22bn in Q3 of 2021, Q4 of 2021, Q1 of 2022 and Q2 of 2022.
As more awareness rises on the transfer window, PenCom’s figures revealed that 30,973 workers moved N143.1bn in the third quarter of 2022.
Section 13 of the Pension Reform Act 2014 specifies that a Retirement Savings Account holder may transfer his RSA from one PFA to another.
It adds that such transfers should not be more than once a year.
According to the pension industry regulator, the PFAs must only process requests for RSA holders registered on the Enhanced Contributor Registration System and those whose recaptured information have been successfully uploaded on to the ECRS.
“PFAs shall only process RSA transfer requests for eligible RSA holders who have not transferred their RSAs within the last 365 days using the RTS, irrespective of whether it is a leap year or not,” it stated.
PenCom opened the transfer window in November 2020, which allowed contributors to change their PFAs.
“Effective transfer of RSAs from one PFA to another requires an accurate and reliable database as it is important to ensure that the pension assets transferred belong to the bona-fide RSA holders initiating the transfers,” it said.
PenCom noted that the opening of the RSA transfer window was done after it ensured that robust IT infrastructure to drive the process was put in place.
It said the process was finalised in June 2019 with the deployment of an enhanced contributor registration system for the pension industry.
The pension regulator said the ECRS incorporated extensive validations, controls and data requirements that would deliver high data integrity standards for the pension industry.
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It said the upgrade of RSA holders’ details to meet the ECRS standards was, therefore, a prerequisite for RSA transfers.
Those who registered with various PFAs from inception of the Contributory Pension Scheme to June 2019 were required to get recaptured, it added.
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There seems to be solution at sight to the crisis bedeviling Okomu community in Ovia South West Local Government Area of Edo State following the setting up of Peace and Conflict Resolution Committee by prominent Ijaw monarchs drawn from Edo, Ondo, Delta and Bayelsa states.
The setting up of the Peace and Conflict Resolution Committee by the Ijaw kings followed a request by His Royal Majesty, Pius Yanbor, the Pere (king) of Okomu Kingdom to his Ijaw brothers peres (king), appealing to them to intervene in the crisis that had led to the burning of houses and loss of lives.
Worried by the crisis and the consequent appeal by HRM Pius Yanbor, the Ijaw peres (kings), namely, HRM, Oboro Gbaraun II, the Pere of Gbaramatu Kingdom, Delta State; HRM, Zacheus Egbunu, the Agadagba of Arogbo Kingdom, Ondo State; HRM, Capt. Frank Okiakpe, the Pere of Gbaraun Kingdom, Bayelsa State; HRM, Joel Ibane, the Pere of Iduwini Kingdom, Delta State; HRM, Godwin Ogunoyibo, the Pere of Olodiama Kingdom, Edo State; HRM, Gbebokedi Ajirioba, the Pere of Tubutoru Kingdom, Ondo State; HRM, Roman Bohan, the Pere of Furupagha Kingdom, Edo State, and HRM Stephen Ebikeme, the Pere of Oporomor Kingdom, Bayelsa State, in an acceptance memo of the Okomu king’s request which was made available to INFO DAILY stated: “We, the undersigned traditional rulers of Ijaw extraction, have unanimously aligned in agreement to take a deep dive into the crisis that has been rocking and bedeviling Okomu Kingdom for the past three years, with a view to providing respite and bringing lasting peace to the aforementioned kingdom.”
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They continued: “This alignment however, is a fallout of a series of robust engagement amongst well-meaning and revered monarchs of Ijaw extraction, whose primary role in their various Kingdoms is to foster peace and unity.”
The Ijaw monarchs, thereafter, appointed Chief Sunday as the Chairman of the Peace and Conflict Resolution Committee, High Chief Pascal Akpofagha as the General Secretary and 16 other notable Ijaw sons from various kingdoms as members.
The 18-member committee is saddled with the responsibility of interfacing with the warring parties in the kingdom with a view to restoring lasting peace to the kingdom.
The revered Ijaw monarchs further expressed their commitment to providing the necessary support and work with the committee within the ambit of the law in order to ensure peace and harmony return to Okomu Kingdom.
News
UN Flags 138 Million Kids In Global Child Labour Crisis
Published
5 hours agoon
June 12, 2025By
Editor
Ahead of World Day Against Child Labour, a report released on Wednesday by the International Labour Organisation and the United Nations Children’s Fund has shown that nearly 138 million children were engaged in child labour in 2024.
The figure included 54 million engaged in hazardous work that endangered their health, safety, and development.
“Today, nearly 138 million children are in child labour worldwide, down from 160 million four years ago.
“There are over 100 million fewer children in child labour today than in 2000, even as the child population increased by 230 million over the same period,” the report stated
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World Day Against Child Labour is marked on June 12 every year and International Day of Play is marked on June 11.
The report revealed that while child labour had declined by more than 20 million since 2020, the world had missed its target of ending child labour by 2025.
It noted that since 2000, child labour had almost halved, yet current rates remained too slow.
To end child labour within the next five years, the report said the current rates of progress would need to be 11 times faster.
“While the elimination of child labour remains an unfinished task, there is some welcome news.
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“After a concerning rise in child labour captured by the global estimates for 2020, a feared further deterioration in the wake of the COVID-19 pandemic has not materialised, and the world has succeeded in returning to a path of progress.
“This success can be attributed to some well-known policy imperatives that, if sustained and scaled-up, could bring about an end to child labour,” the report stated.
It highlighted that the policies included ensuring free and high-quality schooling to provide a worthwhile alternative to child labour and help ensure successful transitions from school to decent work.
Others were equipping education systems to support the school-to-work transition, particularly for older adolescents who face heightened occupational safety and health risks in the labour market; strengthening legal protections against child labour, aligned with international standards to lay the groundwork for effective prevention and enforcement, among others.
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The report also said targeted policies to end child labour must go hand in hand with broader development strategies.
“And to be fully effective, child labour concerns must be systematically mainstreamed into economic and social policy planning – from macroeconomic frameworks to labour market reforms and sectoral strategies.
“The latest estimates underscore the magnitude of the challenge of ending child labour. They also point to progress, and in doing so, affirm the possibilities.
“We have the blueprint for success – the right policies, adequate resources and unwavering commitment. Now is the time to act to free future generations from child labour,” it added.
News
Journalists’ Cooperative Society Announces Formal Take-off
Published
5 hours agoon
June 12, 2025By
Editor
The Innovative Media Partners Cooperative Multipurpose Society has announced its formal take-off.
The President of IMPCMS and Publisher of The Eagle Online, Dotun Oladipo, made the announcement in a statement issued on Wednesday.
According to Oladipo, the formal commencement of activities followed the completion of all registration formalities and opening of a bank account.
The statement added that this also followed the approval of the Executive Committee of the IMPCMS, which now has the full compliments of members.
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Apart from Oladipo, other members of the Executive Committee include Ugomma Cookey, a member of the Board of the Media Career Development Network, as Vice President; Nkanu Egbe, Publisher of Lagos Metropolitan, as General Secretary; Ijeoma Popoola, Editor with the News Agency of Nigeria, Financial Secretary; and Dolapo Otegbayi, a prominent media and marketing consultant, as Treasurer.
The Ex-Officio Members are media trainer, Taiwo Obe; and Founder and Chief Executive Officer of WVL Development Advisers Limited and former Acting Managing Director/CEO of Bank of Industry, Dr. Waheed Olagunju.
To join the cooperative society, which is for practicing journalists and media professionals, would-be members are expected to fill a form, which can be obtained at the secretariat at 1, James Robertson Street, Surulere, Lagos.
For the electronic version of the form, the statement said a WhatsApp message can be sent to: 08023204836, or email to: nkanu.egbe@gmail.com.
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The cost of membership was put at N10,000, which is payable into the cooperative society’s account with the United Bank for Africa: Innovative Media Partner Surulere Multipurpose Cooperative Society, with account number 1028258688.
Among the early financial members of the society are the President of the Nigerian Guild of Editors and Editor of Vanguard Newspaper, Eze Anaba; seasoned broadcaster, Anike-ade Funke Treasure; eminent journalist, Dr. Hope Orivri; Publishers of Oriental News, Chika Izuora and Yemisi Izuora; and Dayo Ojo.
All members of the Executive Committee of the IMPCMS have also become financial members.
The society was formed as a fallout of the Second Nigerian Media Leaders’ Summit held in Abeokuta, the Ogun State capital, in 2024, and organised by The Journalism Clinic, founded by Obe.
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