Author: Salisu Sani-Idris

  • 2023 Hajj Refund: The Unfinished Business

    2023 Hajj Refund: The Unfinished Business

    By Ibrahim Muhammad,
    National Coordinator,
    Independent Hajj Reporters.

    First, I must commend the National Hajj Commission of Nigeria (NAHCON) for the release of funds to Private Hajj Operators and state Muslim Pilgrim’s Welfare Boards and Agencies for onward disbursement to their 2023 Hajj pilgrims for services not rendered.

    We must also acknowledge the efforts of the Association of Hajj and Umrah Operators of Nigeria (AHUON) to sustain the pressure on NAHCON to release the refunds. The State Muslim Pilgrims Welfare Boards also played a critical role in the process that led to the refunds. This is a sign that the industry has begun to realize the importance of operating an open financial system and being accountable to our dear pilgrims. This will go a long way in building the confidence of the pilgrims and the general public in the system.

    Despite being in the eyes of the storm recently, it must also be understood that the Nigerian Hajj Industry is among the few government agencies that make refunds for services not rendered and provide details of such refunds.

    However, there are still outstanding areas that must be addressed to complete the cycle of transparency in the process.

    NAHCON has provided the details of how much was disbursed to each of the 154 Private Hajj Operators and the 36 States and the FCT, but how much did NAHCON receive from the Saudi Arabian Ministry of Hajj and Umrah for the unrendered services during the 2023 Hajj?

    Commendably, NAHCON has now publicly revealed the details of how much it received from Saudi Ministry of Hajj and Umrah and also promised to disburse the remaining funds being awaited as soon as details is provided by the Kingdom of Saudi Arabia.

    The entire process captured above revolves around the cycle of government-to-government agencies. It is time to activate the most important part of the process and that is how to ensure that the funds reach the pilgrims – who are the owners of the refund.

    Many States Muslim Pilgrims Welfare Board have acknowledged the receipt of the refund and also announced the commencement of disbursement accordingly. Though the States have responded positively but is there a process to ensure that the disbursement is carried transparently out as being announced? This is the most important aspect of the refund.

    More importantly, 154 Hajj and Umrah Operators have received various sums of money for disbursement to their pilgrims.

    As of the time of writing this piece, only two or three Private Hajj Operators have publicly acknowledged the receipt of the refunds and begun distributing the funds to their pilgrims.

    In the interest of transparency and accountability, the Association of Hajj and Umrah Operators AHUON should openly admit the receipt of the money and direct its members whose accounts have been credited to also publicly announce the receipt of the refunds and urge them to begin disbursement.

    There should also be a public announcement to this effect especially when the issues have been raised in the public by AHUON and even constitute part of the questions raised against NAHCON during the public hearings conducted by both the Senate Committee on Foreign Affairs and adhoc committee of the House of Representatives.

    As promised by Independent Hajj Reporters, the era of a closed administrative style is over and we all owe it a responsibility to ensure that the 2023 Hajj refunds get to the pilgrims and the transparency protocol is implemented across boards.

  • Copyright Society of Nigeria distributes N465.5m royalties to members

    Copyright Society of Nigeria distributes N465.5m royalties to members

    By Taiye Olayemi

    The Copyright Society of Nigeria (COSON) on Tuesday distributed N465.5 million as 2024 royalties to its members and affiliates.
    The News Agency of Nigeria (NAN) reports that the royalties were disbursed during the society’s 14th Annual General Meeting (AGM) held in Lagos.
    This caused jubilation, singing amd merriment among COSON members that were in attendance, as they took turns to perform their favourite music.
    Mr Tony Okoroji, Chairman of COSON, said that the 2024 royalties were the highest ever distributed in the history of the organisation.
    He said the organisation had recorded about 123 per cent increment in the 2024 royalties when compared with the amount distributed in 2023.
    “We are distributing N465.5 million to all members of COSON today and every member is expected to get their royalties immediately.
    “We have recorded beautiful milestone achievements in the course of the year and I must appreciate everyone for standing tall in our moments of trials.
    “Membership to COSON has increased, we have about 5, 406 members now, this is across the federation.
    “Fellow members of COSON, let me state that I verily believe that in these hard times, we could have done more, much more for the musicians of Nigeria.
    “It is a paradox that the institution established by the state to enable us to soar and achieve great results for our nation, conspired with carpetbaggers and fraudsters to become the greatest obstacle to our progress and success, but we continue to fly, due to the unbreakable COSON spirit,” he said.
    Okoroji, who addressed the members in his speech titled “The COSON Spirit”, urged them to always uphold the spirit of love and brotherhood which the society represents.
    Speaking on how COSON had been able to overcome some challenges in the course of the year, Okoroji said: “I wish to state that I have been to practically every court in the land.
    “I have mounted the witness box and testified, and I have won victories on behalf of COSON that many had thought were impossible.
    “We have retained the services of four first class senior advocates and several other senior lawyers.
    “Without the decisions of those distinguished Judges of the Courts who remain committed to truth and justice, COSON, this great pan Nigerian organisation that has become the nation’s most formidable agent of strength, unity, progress and growth for the creative industry, would have since been sucked dry and wiped away.”
    The COSON chairman appreciated the management led by the General Manager, Mrs Bernice Ashibuogwu, for its contributions to the success of the society.
    NAN reports that the AGM was attended by Afro Juju music star, Sir Shina Peters; President of the Creative Industry Group, Felix Duke; and President of the Music Producers and Marketers Association of Nigeria (MUPMAN), Sharon Wilson.
    Others are: Reggae music giant, Righteousman Erhabor; legendary female singer, Stella Monye; pop music sensation, Alex O; gospel music minister, Kenny Saint Brown; as well as Nigerian comedian and musician, Koffi Tha Guru.

  • Abuja National mosque unveils 5 additional Imam

    Abuja National mosque unveils 5 additional Imam

    By Salisu Sani-Idris

    The Management of Abuja National Mosque on Tuesday unveiled five additional resident and visiting Imam for the Mosque.

    The Secretary-General, Nigerian Supreme Council for Islamic Affairs (NSCIA), Prof. Ishaq Oloyede, made this known at a news conference in Abuja.

    “As part of the measures to strengthen the Religious Affairs Unit of the National Mosque and to further harness its vast potential as a center for worship, training, learning and scholarship, the council has completed the process of appointing five additional resident and visiting imam for the Mosque.

    “The five volunteers have been considered by the General Purpose Committee (GPC) of the NSCIA and subsequently recommended for the endorsement of the Expanded General Purpose Committee (EGPC).

    “The EGPC, at its meeting held on Sunday, Dec. 1, endorsed, on behalf of the General Assembly, their appointments, subject to the endorsement of the National Fatwa Committee which has also cleared the five imam as qualified to be Imams of the mosque,” he confirmed.

    The newly appointed imams

    He listed the imam to include; Prof. Ilyasu Usman (visiting), Prof. Luqman Zakariyah (resident), Sheikh Abdulkadir Salman (visiting), Malam Haroun Eze (resident) and Prof. Khalid Abubakar (visiting).

    Oloyede described the appointment of the five imam as a milestone not only in the annals of the national mosque but also in the life of the entire Muslim community in Nigeria.

    “You will recalled that during a similar news conference held on Thursday, Nov. 16, 2017, where the changes in the administrative and management of the mosque was done with the appointment of Prof. Shehu Galadanci, as the Murshid.

    “I informed you of the intention of the NSCIA to appoint more imams, particularly from the South-South and South East Geopolitical zones.

    “To today’s news conference, therefore, is a further fulfilment of that promise,” he said.

    Oloyede said the NSCIA, since the establishment of the national mosque in 1984, has been appointing, in succession, qualified Muslims worthy in character and scholarship to oversee the spiritual activities of the faithful.

    He also said that the establishment of the Abuja National Mosque Management Board (ANMMB) was a further step to create a structure for the management of the mosque on behalf of the NSCIA.

    He commended the President-General of NSCIA and the Sultan of Sokoto, Alhaji Sa’ad Abubakar III and all members of the Muslim community who have played active roles in supporting “smooth sail to the shore of today’s success.

    “I pray that the Almighty Allah will continue to imbue our Imams with wisdom, knowledge and forthrightness to lead our teeming worshippers aright.

    “May He continue to guide and guard the Ummah (Muslim community) to the path of progress,” Oloyede prayed. (NAN) (www.nannews.ng)

  • Assetium Capital unveils kiddies’ commodity portfolio for young investors

    Assetium Capital unveils kiddies’ commodity portfolio for young investors

    By Rukayat Adeyemi

    Assetium Capital Management Ltd. (ACML), a licensed commodities broker-dealer, has introduced Assetium Kiddies Commodity Portfolio, an innovative investment product designed to empower and educate young investors.
    Mr Kunle Awoluyi, Managing Director/Chief Executive Officer (CEO) of ACML, announced this in a statement, on Friday.
    Awoluyi stated that the portfolio was designed to help foster financial literacy from an early age.
    He described commodity portfolio as a long-term, low-risk investment solution enabling parents and guardians to build wealth for their children, while teaching foundational financial skills.
    He said: “This product aligns with diverse financial goals and ethical standards, making it perfect for parents who want to instill saving and investing habits in their children.
    “The Kiddies portfolio offers manageable contributions over time, helping secure a solid financial future for education, a home, or other long-term aspirations.
    “The Assetium Kiddies Commodity Portfolio stands out by combining simplicity, accessibility, and sustainability.”
    The managing director explained that parents could start investing with minimal contributions, making it easier for families from diverse financial backgrounds to participate.
    Awoluyi noted that by emphasising growth-oriented and low-risk investments, the portfolio provides young investors with a solid foundation to build future financial independence.
    The Chief Operating Officer of the company, Mr Ayoola Gbadegesin, said that Assetium’s commitment to redefining investments through tailored solutions and innovative strategies.
    He stressed the imporotance of alternative investments in creating diversified portfolios that protect against inflation and maximise returns.
    “At Assetium, we simplify financial complexities, enabling individuals and businesses to seize opportunities for meaningful, lasting growth.
    “With expertise in asset management, and commodities trading, we deliver balanced portfolios that meet unique financial goals.
    “The features of the portfolio include a diversified portfolio in commodity backed assets, capital preservation, among others.
    “The benefits include access to ACML Kids Membership Club which consists of training, arcades, fun times, coaching and so much more. Other benefits, competitive Returns on Investment, inflation protection, among others,”he said.
    According to him, Assetium’s approach to investment is enhanced by its use of advanced technologies, ensuring seamless transactions, real-time portfolio management, and unparalleled customer support.
    Gbadegesin added that technology-driven edge enables the firm to cater for the unique needs of every client, from individuals to large-scale enterprises.
    The COO stated that parents and guardians who choose the Kiddies Commodity Portfolio are not just investing money; they are investing in their children’s financial literacy and future security.
    He said Assetium empowers clients with innovative solutions that lead to wealth creation and financial independence.
    Assetium Capital Management, licensed by the Securities and Exchange Commission of Nigeria (SEC), is a subsidiary of the Assetium Group.
    The firm provides a wide range of alternative investment solutions, including commodities trading, advisory services, and real estate investments.(NAN)(www.nannews.ng)

  • COP16: Nigeria reaffirms commitment to curb land degradation, desertification

    COP16: Nigeria reaffirms commitment to curb land degradation, desertification

    By Salisu Sani-Idris

    The National Agency for the Great Green Wall (NAGGW) has reaffirmed its commitment to curb land degradation and desertification in Nigeria.

    Alhaji Sale Abubakar, Director-General of the Agency, gave the assurance at the ongoing United Nations Convention to Combat Desertification (UNCCD) COP16, in Riyadh, Saudi Arabia, said a statement on Sunday.

    The Nigerian delegation at the convention was led by Alhaji Balarabe Abbas Lawal, the Minister of Environment.

    Abubakar said the convention marked the beginning of critical discussions on combating desertification, promoting sustainable land use and building resilience against droughts that aligned closely with the agency’s mission.

    “The conference availed the agency the opportunity to highlight Nigeria’s successes under the Great Green Wall initiative, including the restoration of degraded lands, reforestation efforts, and community empowerment programmes.

    “NAGGW is proud to contribute to these efforts and share our experiences in sustainable land management and climate adaptation.

    “The convention also served as an opportunity for NAGGW to showcase its role in fostering regional and international partnerships,” Abubakar said.

    He said the NAGGW’s delegation participated in key discussions on enhancing global and national policy instruments for proactive drought management.

    “The agency’s expertise in implementing early warning systems, sustainable land use practices, and community-driven projects positioned Nigeria as a leader in this critical area.

    “With a clear vision for building resilient ecosystems and communities, NAGGW’s participation at COP 16 signals Nigeria’s unwavering dedication to combating desertification and promoting sustainable development,” said the D-G.

    He reiterated Nigeria’s commitment to achieving large-scale restoration goals, adding that restoring land was not just an environmental necessity but an economic opportunity.

    According to him, investment in land unlocks the potential in agriculture, biodiversity, and resilient communities.

    Abubakar, therefore, called for stronger international partnerships to bridge the financing gap, emphasising that climate resilience requires urgent and ambitious funding commitments.

    He highlighted how desertification and drought had pushed vulnerable populations to abandon their ancestral homes, leading to a rise in migration and social instability.

    He presented Nigeria’s strategic framework under the Great Green Wall initiative, which integrates land restoration with economic empowerment to curb forced migration and improve security.

    The NAGGW boss said the agency empowered thousands of youths and women through skills training in sustainable agriculture, agroforestry, offering them viable economic alternatives to migration.

    He shared success stories of communities in northern Nigeria that had transitioned from despair to prosperity due to these initiatives.

    Abubakar also addressed security concerns linked to resource scarcity, which had often fuelled conflicts in fragile regions.

    He said during the convention the agency participated in the “Middle East Greening Initiative,” where the agency shared its experience with large-scale greening efforts.

    He said NAGGW also hosted a side event on integrating women and youth into land restoration efforts, highlighting grassroots success stories from rural Nigeria.

    “The agency’s commitment to inclusive development inspired many stakeholders, positioning NAGGW as a leader in community-driven solutions for land restoration,” Abubakar said. (NAN) (www.nannews.ng)

  • Pams Travels & Tours celebrates 20 years of excellence in tourism

    Pams Travels & Tours celebrates 20 years of excellence in tourism

    By Taiye Olayemi

    Pams Travels and Tours Ltd, a leading travel and tour company in Nigeria, celebrated its 20th anniversary in the tourism industry on Thursday, Dec. 5th.

    The event, which was attended by dignitaries, stakeholders, and customers, was marked with a raffle draw that saw three lucky winners receive air tickets.

    The CEO of Pams Travels and Tours Ltd, Mrs. Adenike Mustapha, presented an international ticket from Air Maroc to the grand prize winner, while two other winners received local tickets.

    The event also featured a lecture on tourism and travel, delivered by a guest speaker, which highlighted the importance of the industry in promoting cultural exchange and economic growth.

    In his remarks, the Oyo State Commissioner for Tourism and Culture Wasiu Olatunbosun, praised Mustapha’s doggedness and readiness to learn, which has been instrumental to the company’s success.

    The commissioner noted that Mustapha’s passion for the industry has been evident throughout her 20-year career, and her commitment to excellence has earned her numerous accolades.

    The Air Maroc team and other stakeholders also lauded Mustapha’s dedication to the industry, noting that her company has been a valuable partner in promoting tourism and travel in Nigeria.

    In her response, Mustapha expressed her gratitude to her customers, staff, and stakeholders for their support over the years.

    She pledged to continue providing excellent services to her customers and to contribute to the growth of the tourism industry in Nigeria.

    The event was a celebration of Pams Travels and Tours Ltd’s achievements and a testament to Mrs. Mustapha’s leadership and vision.

    The company has come a long way since its inception 20 years ago, and its commitment to excellence has earned it a reputation as one of the leading travel and tour companies in Nigeria.

    The guest speaker’s lecture, which was titled “Yesterday, Today, and Tomorrow: The Future of Tourism and Travel,” highlighted the evolution of the industry and the opportunities and challenges that lie ahead.

    The speaker noted that the industry has undergone significant changes over the years, driven by technological advancements, changing consumer behavior, and shifting economic trends.

    However, the speaker also emphasized that the industry has tremendous potential for growth, particularly in Nigeria, where tourism is still a nascent industry.

    The speaker encouraged stakeholders to invest in the industry, noting that it has the potential to create jobs, stimulate economic growth, and promote cultural exchange.

    The lecture was well-received by the audience, who were inspired by the speaker’s insights and perspectives on the industry.

    The event was a fitting celebration of Pams Travels and Tours Ltd’s 20th anniversary and a testament to Mrs. Mustapha’s leadership and vision.

    The company has come a long way since its inception, and its commitment to excellence has earned it a reputation as one of the leading travel and tour companies in Nigeria.

  • Onung, Benson-Awoyinka, Ajina, others to speak at Aeroport college’s 10th anniversary

    Onung, Benson-Awoyinka, Ajina, others to speak at Aeroport college’s 10th anniversary

    By Taiye Olayemi

    Aeroport College of Aviation and Management is excited to announce its 10th anniversary and 8th convocation ceremony, scheduled to take place from December 9 to 15, 2024.

    The theme for this milestone celebration is “From Dreams to Wings: Celebrating the Journey for a Global Sky.”

    The event is slated to hold at No.1 Bilkaminu Akinsanya Street, Off Ajao Estate, NNPC, Ejigbo, Lagos State.

    This achievement marks a significant milestone for the institution, which has been a leader in aviation education in Nigeria.

    The week-long celebration will include various events, starting with a convocation ceremony where graduating students will receive their diplomas and certificates.

    Attendees can look forward to a keynote address by a renowned aviation expert, as well as cultural performances and exhibitions that highlight the institution’s accomplishments.

    The anniversary program will kick off on December 9 with a charity walk focused on tourism along designated routes in Lagos. On December 10, the Aeroport team will visit the SOS Children’s Village as part of their corporate social responsibility initiative.

    To promote and celebrate rich African culture, an African Cultural Day is scheduled for December 11. On December 12, a novelty football match will take place among aviation colleges in Nigeria, adding an exciting competitive element to the festivities.

    The main anniversary and convocation ceremony will be held on December 13, featuring awards presentations and the induction of new members into the ITPN.

    The anniversary lecture will be delivered by a distinguished guest speaker, Mr Nkereuwem Onung, the President of the Federation of Tourism Associations of Nigeria (FTAN).

    Guest speakers for the eighth convocation ceremony include Mrs. Toke Benson-Awoyinka, the Lagos State Commissioner for Tourism, Arts, and Culture, and Captain Damilola Ajina, Chief Pilot of Green Africa Airlines.

    To celebrate and encourage the staff of the aviation school, management will organise a retreat and awards ceremony to honour staff members for their commitment and service to Aeroport over the past 10 years.

    The celebrations will come to a close on December 15 with a Thanksgiving service to wrap up the anniversary festivities.

    Dr. Oludayo Taiwo Gideon, the host and Chief Executive Officer of Aeroport Group, expressed excitement about the upcoming events.

    Gideon said “We are thrilled to celebrate this significant milestone in our institution’s history.

    “Our commitment to providing world-class aviation education has earned us a reputation as one of the leading aviation colleges in Nigeria.”

    Also, Mr. Akinkunmi Awotundun, the Head of Faculty of Aeroport explained that over the past decade, Aeroport has established itself as a leading institution in aviation education in Nigeria.

    “We have produced hundreds of graduates who have gone on to successful careers in the aviation industry, both within Nigeria and internationally.

    “Our programmes have been designed to meet the needs of the industry, and we have consistently updated our curriculum to reflect the latest developments and trends in aviation.

    “Just as the CEO Aeroport Group has said, this 10th anniversary is coming with a great awareness and celebration,” he said.

    Aeroport College of Aviation and Management has consistently been at the forefront of aviation education in Nigeria, offering training programs in aviation management, flight dispatch, and other related fields. The institution has produced numerous graduates who have gone on to enjoy successful careers in the aviation industry.

    The 8th convocation ceremony and 19th anniversary celebration of Aeroport College of Aviation and Management promises to be a memorable event, and we invite all stakeholders, alumni, students, and industry partners to join us in celebrating this significant milestone.

  • NAHCON assures more refund for 2023 pilgrims

    NAHCON assures more refund for 2023 pilgrims

    By Salisu Sani-Idris

    The National Hajj Commission of Nigeria (NAHCON) has assured more refund for the poor services rendered to the 2023 hajj pilgrims.

    The Executive Chairman of NAHCON, Prof. Abdullahi Usman, made this known in a statement issued by the commission’s Assistant Director, Information and Publication Division, Mrs Fatima Usara, on Thursday in Abuja.

    ” It would be recalled that in the month of October, the National Hajj Commission of Nigeria (NAHCON) acknowledged receipt of refunds from the Kingdom of Saudi Arabia for various services not rendered to pilgrims of previous unspecified hajj seasons.

    ” NAHCON explained that the problem hindering payment of the refunds was unavailability of details accompanying the received funds.

    ” Details were not attached on the reasons of the
    refunds, or whom they were meant for and the amount each pilgrims is to receive. ”

    Usman appealed to pilgrims and the public on the stalemate preventing NAHCON from releasing the remaining monies lodged in its account.

    According to him, the commission is still awaiting explanations of these refunds without which payments cannot be made.

    ” For the benefit of clearing any doubts, National Hajj Commission of Nigeria received in five tranches the sum of 20,716, 035.2 Saudi Riyals as various categories of unexplained refunds.

    ” Our Of these total, NAHCON received explanation only over the disbursement of 150 Saudi Riyals each for the 95,000 pilgrims that participated in the 2023 Hajj.

    “‘ This amount covers matters relating to electricity supply in Masha’ir locations,” he said.

    The NAHCON boss said that the refund had since been released to the States Pilgrims’ Welfare Boards and Private Tour Operators for onward dispensation to their respective pilgrims.

    ” Hence NAHCON is still anticipating narration on
    a total of 6.4 Saudi Riyals in pursuit of further disbursement of the remaining refunds.”

    Usman added that the commission had written several letters to the Saudi Ministry of Hajj and Umrah requesting for details in order to hand over the monies to the rightful owners.

    ” Besides, during my recent trip to the Kingdom of Saudi Arabia, I led a delegation on a follow-up visit to the Ministry and other relevant establishment seeking clarification over the rightful beneficiaries of the refunds and the amount due to each person.”

    He also assured the affected pilgrims and their respective officials that as soon as the commission receives full details of refunds the remaining amount would be disbursed immediately and transparently. (NAN)

  • LASPEC sensitises 7,457 LG workers to contributory pension

    LASPEC sensitises 7,457 LG workers to contributory pension

    By Rukayat Adeyemi

    The Lagos State Pension Commission (LASPEC) has begun a three-day sensitisation programme for 7,457 employees across its 20 local governments to facilitate seamless access to their pension benefits upon retirement.
    Mr Olabode Agoro, Head of Service (HoS) Lagos State, in an opening remark at the sensitisation programme on Tuesday in Lagos, said that the state government was concerned about given the right information to its workers before retirement.
    Agoro, represented by the Permanent Secretary, Lagos State Public Service Office, Mrs Olasunkanmi Oyegbola, underscored the government’s commitment to equipping workers with necessary information ahead of retirement.
    “It is very important to propel one to success. That is why we thank LASPEC for its deliberate effort geared towards continuous sensitisation of the local government employees.
    “I applaud this initiative, because having received important and necessary facts, seamless processing of retirement benefits under the Contributory Pension Scheme(CPS) is guaranteed. Knowledge, they say, is power and information is key,”he said.
    According to him, the initiative by LASPEC will guide the public servants in navigating the retirement phase and assit them in accessing their retirement benefits after their exit from the state’s public service.
    Agoro lauded Gov. Babajide Sanwo-Olu for his efforts in bringing the sensitisation services to the doorstep of the workers, while also updating them with current information for easy and accessible documentations.
    In his remark, Mr Babalola Obilana, Director-General, LASPEC, said that the sensitisations was designed to reawaken the consciousness of the employees on the CPS towards their retirements.
    Obilana said that the sensitisation programme not only provide essential updates and improvements to the CPS, but also emphasised its crucial role in ensuring a secured and sustainable future for all public servants.
    He explained that the CPS was established with the primary goal of ensuring that every employee had a reliable and sustainable source of income upon retirement.
    “The scheme is based on a straightforward principle: both employees and employers contribute a portion of the employee’s salary into a pension fund, which is then managed by a designated authority.
    “Over the years, the administration of the CPS in Lagos State has evolved, with several key updates aimed at improving efficiency, transparency and accessibility,” he said.
    Obilana added that the changes reflected an ongoing commitment to safeguarding pension funds and ensuring that workers’ benefits were both protected and accessible when needed most.
    He stated that LASPEC had also strengthened collaboration with the Pension Fund Administrators (PFAs) and the Annuity Service Providers (ASPs).
    The director-general, however, added that some public servants in the state were yet to open their Retirement Savings Accounts (RSAs).
    “This oversight has serious implications for your future financial security. Without an RSA, your pension contributions remain in an escrow account, rather than being invested and managed to generate growth.
    “This situation not only limits the potential of your retirement savings, but also complicates the pension payment process when you retire.
    “I cannot stress enough the importance of opening your RSA without delay. If you have not done so, I strongly urge you to take action today,” he said.
    In a lecture, Mr Billy Osazuwa, a representative of Trustfund Pension Administration, urged the employees to take cognisant of their names, date of birth, next of kin and other data, while receiving their pension updates.
    He urged the workers to give valid information and keep updating their records to ensure prompt access to their fund at retirement.
    “When you wait for retirement days, it is going to be difficult to access your fund,” he said.
    Also, Mr Adedamola Basorun, Branch Manager, Heirs Insurance Group, provided insights into the CPS guidelines and its associted benefits.(NAN)(www.nannews.ng)