News
FG Unveils Pension-support Loan For Retirees

In a move aimed at boosting the nation’s consumer credit system, the Federal Government, through the Nigerian Consumer Credit Corporation, on Thursday, launched a pension-backed loan scheme designed to empower retirees.
The initiative, launched in collaboration with Leadway Trustees and Optimus Bank, offers retirees access to loans starting from ₦50,000, with the maximum benchmark to be determined by the size of the pension income.
Nigeria’s pension system has undergone significant reforms over the past two decades, with the Pension Reform Act of 2004 and its subsequent amendments introducing the Contributory Pension Scheme to address decades of mismanagement and unpaid retirement benefits.
Despite these reforms, retirees often face financial difficulties, with limited access to credit and delayed payments, leaving many unable to meet urgent needs.
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Speaking at the signing of the Memorandum of Understanding in Abuja, the Managing Director and Chief Executive Officer of CREDICORP, Uzoma Nwagba, said the initiative would give retirees a new lease of life.
Nwagba noted that the scheme, launched under the theme “Empowering retirees with consumer credit,” covers both federal and state pensioners.
He commended President Bola Tinubu for his financially inclusive model of governance as enshrined in the Renewed Hope Agenda, stressing that the pension-backed loan programme reflects the administration’s commitment to creating opportunities for all Nigerians.
These, he added, include senior citizens who, for long, have not benefited from consumer credit.
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He said, “The programme leverages pension income, offering retirees tailored, low-interest loans that are both secure and sustainable.
“This first-of-its-kind product ensures that Nigeria’s senior citizens can access credit with dignity, without the burden of exorbitant rates or complex processes.
“Annuitants are the backbone of Nigeria’s progress, yet they have been sidelined in the credit ecosystem. This programme changes that narrative. By partnering with Leadway Trustees’ expertise in pension management, we are delivering a credit solution that is safe, affordable, and transparent. This is consumer credit redefined, inclusive, equitable, and empowering.”
The event, attended by stakeholders from the financial sector, pension industry, and annuitants’ associations, featured testimonials from early beneficiaries.
For instance, Amina Sule, a 68-year-old retired teacher, said, “For years, I wanted to start a small poultry business to stay active and support my family.
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“This programme gives me the confidence to borrow affordably, knowing my pension secures my loan. It’s not just credit, it’s hope and independence.”
Also speaking, a retired civil servant, Chukwuemeka Okeke, said, “Medical bills can be overwhelming. With this loan, I can cover my healthcare needs without stress. The process was straightforward, and I feel respected as a retiree.”
Consumer credit in Nigeria remains underdeveloped compared to global standards, where retirees in countries like the United States and the United Kingdom can easily access mortgages, healthcare, or small business loans backed by their pension or social security income.
In Nigeria, retirees have largely been excluded from such credit facilities, leading to widespread financial insecurity in old age.
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The Federal Government’s decision to introduce a pension-backed loan scheme through the Nigerian Consumer Credit Corporation marks the first structured attempt to integrate retirees into the country’s consumer credit ecosystem.
By leveraging pension payments as collateral, the initiative seeks to provide senior citizens with safe and affordable credit for healthcare, small-scale enterprises, and other personal needs.
The move is also in line with President Bola Tinubu’s Renewed Hope Agenda, which emphasises financial inclusion, poverty reduction, and economic empowerment.
News
MOWAA Authorities Shun Edo Assembly Committee, Give Reason

Authorities of the Museum of West African Art (MOWAA) on Monday refused to appear before the Edo State House of Assembly Ad hoc Committee which was set up to investigate its operations and funding.
Recall that Governor Monday Okpebholo, had last month, asked the Assembly to determine the stake of the state government having committed N3.3bn and true ownership of MOWAA.
At the resumed sitting of the Committee on Monday, MOWAA, in a letter by its lawyer, Olayiwola Afolabi, said it earlier informed the Committee that it would be sub judice for it to attend the public hearing due to the pendency of the same matter before the Federal High Court, Benin City.
In the letter, MOWAA informed the Committee that other committees of the Federal Government and the House of Representatives have been constituted to look into the same issues.
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The letter said documents it previously submitted to the Assembly showed that everything about MOWAA was genuine and transparent.
MOWAA, in the documents it submitted, said, “No funds from any international institution had been received for the building of MOWAA until after it was very clear what MOWAA was and was not.
“All funding was received subsequent to the time in the middle of 2021 that it was clear to potential donors that there would be two separate organisations one focused on Benin heritage art and another on modern and contemporary, broader West African art and research/education.
“Funding from the German Government did not come until the end of 2022 – a year and a half after the Palace disassociated itself from MOWAA. The fact that there would be two separate museums was communicated to the Benin Dialogue Group (the European museums) in the meetings of October, 2021 at the London meeting and again in Hamburg in the meetings of March 2023, and further confirmed in writing to all Benin Dialogue Group members approximately two years ago when MOWAA formally withdrew from the group meetings.”
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Speaking before the Committee, the state Accountant General, Julius Oseimen Anelu, said N3.8bn was released for the building of MOWAA between 2022 and 2024.
He said funding for MOWAA by the Edo State Government was appropriated in the budget.
He said the $18m from donors did not enter the state’s coffers.
On his part, the Benin Monarch, Oba Ewuare II, who was represented by Prince Aghatise Erediauwa, accused former Governor Godwin Obaseki of making efforts to hijack the processes of the returned artefacts.
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He accused former Minister of Information and Culture, Alhaji Lai Mohammed and a former Director General of National Commission for Museums and Monuments (NCMM) Albert Tijani, of fighting the Palace to defend the actions of the Legacy Restoration Trust (LRT).
Oba Ewuare II said the LRT was used to solicit funds abroad using his name.
The Benin Monarch said the Federal Government gazette, which recognised him as the custodian of the returned artefacts, made the LRT promoters realise that they were fighting a lost battle.
Chairman of the Ad hoc Committee, Hon Ade Isibor, expressed shock at the action of MOWAA.
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Hon. Isibor said the suit cited by MOWAA would not stop the Committee’s investigation, saying the Assembly and the Edo State Government were not involved in any litigation involving MOWAA.
According to him, “The powers of parliament to look into funds disbursed by the Executive is sacrosanct and cannot be taken away by any court.
“We are shocked that MOWAA did not attend sitting or come to give a verbal presentation. The Committee adopted the documentary evidence forwarded to us without by MOWAA.”
News
He Can’t Fix His Party Let Alone Nigeria – Oshiomhole Blasts Atiku

The lawmaker representing Edo North Senatorial District, Adams Oshiomhole, has criticised former Vice President Atiku Abubakar.
Speaking in an interview on Politics Today, a programme on Channels Television monitored by DAILY POST on Monday, Oshiomhole alleged that Atiku, who cannot fix his party, cannot fix Nigeria’s problems.
His comment comes after Atiku officially joined the African Democratic Congress, ADC.
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Atiku formally joined the ADC, the coalition-backed party, on Monday ahead of the 2027 general elections.
Reacting, Oshiomhole said, “If Atiku as a former vice president under PDP could not fix PDP, he could not reconstruct it, he could not provide leadership and use his influence which he had built, how can you lay claim to fix Nigeria.
“Former President Olusegun Obasanjo gave Atiku a lot of leverage, so much power, yet he couldn’t use it to fix the PDP,” Oshiomhole said.
News
Gov Mohammed Flags Off Construction Of 203.47-kilometre Rural Roads

Governor Bala Mohammed of Bauchi State has flagged off the construction of 203.47-kilometre rural roads in the state.
Speaking during the flagging off of the roads in Gamawa Local Government Area of the state on Monday, Mohammed said the road construction would be carried out with the Federal Government intervention under its Rural Access and Agricultural Marketing Programme (RAAMP).
According to him, the roads represented more than physical infrastructure but symbolises his administration’s vision of Bauchi state where no community was left behind, where development was fair and balanced and driven by the needs of the people with equity and justice.
“We are grateful to the federal government, we are grateful to the World Bank and all the development partners.
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“Roads are the architect of opportunities. They connect farmers to markets, women to healthcare, children to schools, security agencies to vulnerable communities and rural economy to national prosperity.
“For decades, many rural communities in Bauchi have suffered neglect. Roads became impassable during rainy seasons, farmers lost produce, students struggled to reach schools and sick people were unable to get timely medical attention,” he said.
Mohammed, who said that the days of neglect of the rural communities were over, added that RAAMP remained a key pillar for his transformative agenda and aligned with his Bauchi project 1&2.
He said RAAMP also aligned with the Bauchi Agricultural modernisation, inclusive development, improved governance, youth empowerment, poverty reduction and sustainable infrastructure.
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According to him, RAAMP was not just about roads, it’s about connecting communities, boosting the rural economy and laying the foundation of lasting prosperity.
He highlighted the roads to include 26.8 kilometers Mararaba Liman Katagum-Boli-Kafinmawa-Mararaba Dajin roads, 14.75km Dargazu- Gambaki-Chinade-Gangai road, 28km Gamawa – Sakwa road.
Others included; 14.45km Misau- Beti- Maladunba roads, 6.6km Giade – Tagwaye road, 6.68km Yana-Fago road, 6.71km Mararraban Dajin- Dajin road, 36.65km Dott-Dado- Baraza road, 24km Lanzai-Papa road.
He further explained that the road construction also included 4.91km Gadar Maiwa- Zakara road, 25km Dagu-Ningi road, 8.86km Nabordo – Gadan Doka.
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The governor called on traditional rulers to support contractors and remained vigilant and provide intelligence on security and safety.
Also speaking, Engr. Aminu Mohammed, the National Coordinator (RAAMP)
Coordinator said that the state has disbursed over N6 billion in counterpart funding to RAAMP, making it one of the top performing states.
“These roads will open critical agricultural corridors, reduce travel time and post harvest losses, improve access to markets, schools and healthcare.
“It will also enhance rural productivity and inclusion, stimulate economic activities across all the three senatorial zones in the state,” he said.
He called on the contractors to deliver the project with the highest standard of engineering professionalism and compliance with environmental and social safeguard.
The Coordinator also called on the communities to take ownership of the roads and take care of and protect them.
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