Babajide Sanwo-Olu, governor of Lagos, has cleared N68.5 billion in pension arrears for public servants who retired from the state’s service.

Bode Agoro, head of service in the state, spoke on Tuesday in Lagos during a sensitisation event on the contributory pension scheme (CPS) for public servants.

The event was organised by the Lagos State Pension Commission (LASPEC).

Agoro praised Sanwo-Olu for prioritising the welfare of retirees by ensuring they receive their benefits promptly upon retirement.

He also commended the governor for his continuous efforts to improve the welfare of public servants in the state.

The head of service said the CPS, which was passed into law on March 19, 2007, in Lagos, was to provide a sustainable retirement plan that ensures financial security upon staff retirement from active service.

“Since its introduction, a lot of government policies have been made to strengthen the Nigerian pension industry, provide security for citizens’ savings, well as protect workers’ retirement benefits,” Agoro said.

“However, all these policies have come with the need to align ourselves, as workers, with the evolvement of the scheme.

“Knowledge, they say is power, and information is key. Therefore, a man without the right information will no doubt be deformed.”

He said the sensitisation programme was organised to combat misinformation about the pension scheme, providing public servants with updated information.

Agoro also highlighted the state’s ongoing efforts to update data, including linking national identification numbers (NIN) to all accounts, such as bank and telecommunications accounts, to streamline pension payments.

LAGOS URGES PUBLIC SERVANTS TO UPDATE THEIR DATA WITH PFAs

Agoro urged public servants to update their data with their pension fund administrators (PFAs) to ensure smooth processing of their retirement payments.

The head of service said for individuals who recently had their service documents updated, changed their locations, or altered their names, the exercise was designed to offer them new opportunities to register those changes with their PFAs, accordingly.

“Considering the different development that public servants might have experienced over the years, this exercise will be made periodic to allow you register such development with your PFAs,” he said.

“This is to enable updated information that will ease processing of your retirement benefits by LASPEC as well as the PFAs.

“As partners in progress, our PFAs will be made available at the Adeyemi-Bero Auditorium at Alausa, Ikeja, for four days as scheduled in our circular, to attend to your proper documentation.”

The Nigerian Communications Commission (NCC) has withdrawn its statement claiming that Starlink did not receive regulatory approval before hiking its subscription prices in Nigeria

The development comes a few hours after Reuben Muoka, the director of public affairs at NCC, said the commission was “surprised” when the company announced the price changes.

Although Muoka acknowledged that Starlink had filed a request with the NCC to adjust its prices, he said the regulator did not approve it.

“We were surprised that the company jumped the gun by announcing price changes after filing a request to the Commission seeking approval for price adjustment for which the Commission was yet to communicate a decision,” NCC had said earlier in a statement.

“The action of the company appears to be a contravention of Sections 108 and 111 of the Nigerian Communications Act (NCA) 2003, and Starlink’s Licence Conditions regarding tariffs.

“The Commission will, therefore, take appropriate enforcement measures against any action by a licensee that is capable of eroding the regulatory stability of the telecommunications industry.”

However, speaking in another statement, Muoka asked media houses to withdraw the commission’s previous statement on the matter.

“I wish to request that all who have received this press statement should ignore, as it was issued in error,” he said.

“Kindly withdraw it if it has been posted on your platforms.”

Telecommunications stakeholders have been clamouring for an upward tariff review to make the sector attractive to investors.

On April 25, telcos said their services were overdue for price increments as they have not raised rates in the last 11 years.

The National Pension Commission (PenCom) says it has commenced the online verification and enrolment exercise for prospective retirees in ministries, departments and agencies (MDAs) of the federal government.

The commission said the exercise is for those who are due to retire in 2025.

Omolola Oloworaran, acting director-general (DG), PenCom, spoke at a workshop on the online enrolment application for pension desk officers (PDOs) of treasury-funded ministries, departments and agencies (MDA) of the federal government, on Monday in Abuja.

Oloworaran said the commission is working effortlessly to ensure that challenges such as application downtimes are resolved.

She also said a new and more efficient enrolment application that will provide a user-friendly and seamless experience for users has been developed.

“At the National Pension Commission (PenCom), we hold firmly to our statutory responsibility of ensuring a seamless pre-retirement verification and enrolment process for employees of federal government treasury-funded MDAs,” Oloworaran said.

“Each year, we embark on this exercise to gather accurate data for determining the Accrued Pension Rights of prospective retirees, so that the federal government can make the necessary budgetary provisions.

“Today’s session is not just a routine gathering; it is part of PenCom’s commitment to building the capacity of stakeholders, specifically you, the Pension Desk Officers, whose roles are indispensable in this process.

“This workshop aims to equip you with the skills and knowledge needed to effectively use the application and address any challenges that arise during the enrolment process.

“We are also here to confront the issues of the past head-on.”

‘THERE WERE GAPS IN PREVIOUS ENROLMENT’

She further said in previous enrolment exercises, gaps and challenges were observed.

The PenCom DG added that the workshop will provide practical solutions and clarity on the modalities for the upcoming 2025 enrollment.

“We understand that some challenges, like application downtimes, have occasionally hindered the process, particularly during last-minute rushes,” she said.

“I am pleased to inform you that we are actively working on developing a new, more efficient enrolment application that will provide a user-friendly and seamless experience for all stakeholders.”

Oloworaran also reassured that the commission is committed to continuously improving service delivery across the pension industry.

The PenCom boss said despite some setbacks, including delays in the release of funds for retirees’ accrued rights, she’s confident that these issues will soon be resolved.

“Today is not just about resolving technical issues; it is also about reaffirming our shared responsibility to Nigeria’s retirees, who deserve timely and seamless access to their benefits,” she added.

Oloworaran also said significant progress has been made by all critical stakeholders to clear the outstanding pension liabilities and put in place long-term solutions that will prevent future delays in funding.