celebrity radar - gossips

New PENCOM initiatives dominate Stanbic IBTC Pension Managers’ forum

Published

8 years ago

May 29, 2018

Describing measures taken by the National Pension Commission (PENCOM) to sustain growth of the Nigerian pension industry as apt, Stanbic IBTC Pension Managers Limited has said the micro pension scheme, multi-fund investment structure and Pension account transfer window, to mention but a few, are among initiatives capable of putting the sector in stronger footing going forward.

The company, Nigeria’s biggest pension fund administrator (PFA), spoke against the backdrop of the recent announcement by the industry regulator that the multi-fund structure would become operational from July 1, 2018.

Speaking during a media interactive session in Lagos on Monday, May 28, 2018, Chief Executive, Stanbic IBTC Pension Managers Limited, Mr. Eric Fajemisin, said such reforms and innovations are necessary to maintain the strength and depth of Nigeria’s Contributory Pension Scheme (CPS). The session was one in the series of strategic approaches by the PFA to engage industry stakeholders on ways to strengthen the Nigerian pension industry and boost wider participation by Nigerians.

Fajemisin noted that the Retirement Savings Account (RSA) Multi-Fund Investment structure, which replaces the “one-size-fits-all” arrangement that puts all active contributors into one RSA Fund, would resolve the challenge of asset-liability risk management faced by the operators. By aligning the age and risk profile of RSA holders to match the four funds, contributors would have a better chance to earn improved returns on their investments in proportion to their risk appetites.

The different categories of the multi-funds structure are Fund 1, Fund 2, Fund 3 and Fund 4. Fund I is targeted at people of 49 years and below who in the quest for higher returns are willing to take more risks. Fund 2 is aimed at people who are aged 49 years and below and still working but are satisfied with moderate returns and levels of risks. Fund 3 targets people 50 years and above but still working and have very low risk appetite. In Fund 4 are retirees who have the lowest risk profile of all categories.

Among its other benefits include improved standard of living for the elderly, safety of funds and access to other incentives, such as mortgage facilities and health insurance. In addition are flexible contribution remittances, the opportunity to make withdrawal prior to retirement and the enhancement of financial inclusion in the country.

Speaking on the micro-pension scheme,Fajemisin said it would help in deepening asset accumulation in the country, and provide the crucial capital required for investment in critical sectors of the economy. As an initiative designed to cover an estimated 70 percent of Nigeria’s working population in the informal sector, the scheme offers enormous benefits to the society and ensure improved standard of living for the elderly, guarantee the safety of funds and may provide access to other incentives, such as mortgage facilities and health insurance., regardless of challenges associated with its seamless implementation.

On the proposed pension transfer window, which allows a RSA holder to switch PFA once a year, the Stanbic IBTC Pension helmsman said it would deepen the democratic space in the pension industry as well as encourage healthy competition, resulting in further transparency and accountability, which would in turn enhance efficiency, innovation and service delivery.

Fajemisin also reviewed the 2014 Pension Reform Act and the impact on the CPS. On the enabling law, he said the introduction of more stringent penalties for erring operators and directors, especially as it relates to mismanagement of funds, has engendered greater corporate governance, making it almost impossible to misapply pension funds by anyone. By increasing the contributions of the employer and employee to 10 and 8 percent respectively, Fajemisin said the Act has ensured the availability of more benefits to contributors at retirement. In addition, the Act makes the non-remittance of employees’ contribution by the employer an offence which the regulator can prosecute in court.

Amongst its provisions, which expanded its coverage, private sector organizations with just three employees or more are required to register under the scheme; while the law also compels an employer to open a Temporary Retirement Savings Account (TRSA) on behalf of an employee that fails to open a Retirement Savings Account within three months of being employed.

The PFA’s Head of Business Development, Mrs. Nike Bajomo, said the company is already reaching out to its over 1.6 million RSA holders nationwide to create awareness about commencement of the multi-fund structure with effect from July 1, 2018. She said the PFA will continue to engage various stakeholders on developments in the industry to ensure the provisions of the CPS are fully harnessed to the benefit of all. Such platforms as the employers’ forum, preretirement seminars, among other initiatives Stanbic IBTC Pensions organises yearly, are fashioned to ensure regular engagement and to drive awareness.

Backed by the experience and expertise of Stanbic IBTC Group, a member of the over 155-year-old Standard Bank Group, Bajomo said the PFA will not relent in providing excellent services to its RSA holders and Nigerians. Stanbic IBTC Pension Managers Limited, she said, has over 1.6 million RSA holders nationwide, with assets under management in excess of N2 trillion. It pays approximately N1.3 billion to over 37,000 retirees monthly and over N279 billion has been paid to retirees since the PFA commenced operations in 2006, Bajomo added.

Stanbic IBTC Pension Managers Limited is a subsidiary of Stanbic IBTC Holdings, a member of Standard Bank Group, a full service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management. Standard Bank Group is the largest African financial institution by assets. It is rooted in Africa with strategic representation in 20 countries on the African continent. Standard Bank has been in operation for over 155 years and is focused on building first-class, on-the-ground financial services institutions in chosen countries in Africa; and connecting selected emerging markets to Africa by applying sector expertise, particularly in natural resources, power and infrastructure.

celebrity radar - gossips

Adron Homes Celebrates Visionary Chairman, Aare Adetola Emmanuel King, at 51

Published

13 hours ago

April 2, 2026

Sahara Weekly

Adron Homes Celebrates Visionary Chairman, Aare Adetola Emmanuel King, at 51

The management and staff of Adron Homes and Properties Limited have joined family, friends, associates, and well-wishers across the globe to celebrate their Chairman and Chief Executive Officer, Aare Adetola EmmanuelKing, as he marks his 51st birthday.

In a statement released by the company, the milestone was described as a celebration of an exceptional leader whose vision, resilience, and entrepreneurial brilliance have not only transformed Adron Homes into a household name in Nigeria’s real estate sector but have also redefined affordable housing across the country.

Under his dynamic leadership, Adron Homes has continued to expand its footprint, delivering value-driven residential solutions while empowering thousands of Nigerians with opportunities for home ownership. His commitment to excellence, innovation, and customer satisfaction has remained the driving force behind the company’s sustained growth and industry leadership.

The statement further highlighted Aare EmmanuelKing’s passion for nation-building and community development, noting his significant contributions to job creation, youth empowerment, and the promotion of socio-economic development through real estate investments.

“As a leader, mentor, and visionary, Aare Adetola EmmanuelKing has consistently inspired a culture of excellence, integrity, and dedication within the organization. His ability to turn bold ideas into reality continues to position Adron Homes as a trailblazer in the industry,” the statement read.

The company expressed profound gratitude for his steadfast leadership and prayed for continued wisdom, strength, and sound health as he embarks on another year of impactful achievements.

As he celebrates his 51st birthday, the entire Adron Homes family proudly honours a man whose legacy continues to shape the future of real estate in Nigeria.

Happy 51st Birthday, Aare Adetola EmmanuelKing!

celebrity radar - gossips

Oba Ara Releases Emotional Tribute to Late Taiwo Adegbodu

Published

3 days ago

March 30, 2026

Sahara Weekly

Oba Ara Releases Emotional Tribute to Late Taiwo Adegbodu

Taofik Afolabi

The gospel music community continues to grieve the painful loss of Taiwo Adegbodu, a beloved figure whose sudden departure left a deep void among fans, colleagues, and loved ones. In response to this loss, renowned gospel minister Rotimi Onimole, popularly known as Oba Ara, has released a moving tribute song that captures both the sorrow of the moment and the enduring legacy of the late singer.

Oba Ara, a proud son of Isale Eko, channels raw emotion throughout the song, using heartfelt lyrics and soul-stirring melodies to reflect on his personal connection with Taiwo Adegbodu. In the tribute, he openly expresses how deeply the news of Adegbodu’s passing shook him, describing it as a painful and unexpected loss that is difficult to come to terms with.

The song goes beyond mourning, it celebrates the life, ministry, and impact of Taiwo Adegbodu. Oba Ara highlights the late artist’s dedication to spreading the gospel through music, his inspiring voice, and the spiritual influence he had on many within and beyond Nigeria. Through powerful verses, he paints a picture of a man who lived for God and touched countless lives through his ministry.

Listeners have described the tribute as both comforting and deeply emotional, as it resonates with the collective grief of the gospel music community. It serves as a reminder that although Taiwo Adegbodu is no longer physically present, his music, message, and legacy will continue to live on.

In honoring his late colleague, Oba Ara not only pays his respects but also offers a source of healing for fans and fellow ministers, using music as a tool to process grief and celebrate a life well lived.

celebrity radar - gossips

Buratai, Fagbemi , Shagaya, Olofa, Others Eulogise Olowu Kuta’s Olori On 60th Birthday, Foundation Launch

Published

4 days ago

March 30, 2026

Sahara Weekly

Buratai, Fagbemi , Shagaya, Olofa, Others Eulogise Olowu Kuta’s Olori On 60th Birthday, Foundation Launch

Eminent personalities across the Nigeria stormed the TFK Event Centre, Bala Mohammed Way, Guzape, Abuja, to celebrate the 60th birthday of Olowu Kuta’s Olori, Queen Jumai Amoke and her Foundation Launch on Saturday 28, March 2026.

From former Chief of Army Staff, Lt Gen TY Buratai rtd, to the Minister of Justice and Attorney-General of the Federation, Prince Lateef Fagbemi; Olofa of Offa, HRM Oba Mufutau Gbadamosi. Even top businesswoman and socialite, Chief (Mrs) Bola Shagaya, was in attendance.

Other dignitaries were newly promoted Deputy Inspector-General of Police and former AIG Zone 2 , Lagos , Adegoke Fayoade, Major General Abdumalik, Major General Samuel Adebayo rtd (Fmr CDI);

Major General Anthony Omozoje rtd (Fmr Copp);

Alhaji Tajudeen Owoyemi (Asiwaju of Offa and CEO Radisson Hotel Nigeria;

Dr Waheed Olagunju, former managing director of Bank of Industry, Oniba of Iba, Lagos State, HRM Oba Dr Suleiman Raji ;

Justice Falola, Olu of Ile-Ogbo , Oba Adetoyese amongst many traditional rulers and captains of industry too numerous to mention.

Speaking at the occasion, the Chief Host, Olowu of Kuta, HRM Oba Dr Adekunle Oyelude Makama, CON , Tegbosun iii, who is also the husband of the celebrant commended Queen Jumai for ‘ her slender arms full of kindness’ to establish such humanitarian Foundation, ‘Amoke Children and mother in Need Foundation’ at a time Nigerians are going through economic crisis occassioned by the global meltdown.

Olowu also commended her steadfastness and love for the less privileged and downtrodden.

The monarch refrenced the task before his wife’s humanitarian gesture said her best is yet to come.

” Olori Amoke Jumai, I celebrate you. You will celebrate 70, 80, 90 and continue to shine as you continue to put a smile on people’s faces. I love you, “Olowu Kuta added.

To Lt Gen Buratai, a former army chief and former Nigerian Ambassador to Benin Republic, the reward of hard work is more work.

Buratai, who also doubles as Balogun Agba of Owu Kuta, a chieftaincy title reserved for a generalismo congratulated Queen Jumai for attaining the age of 60 in good health.

The retired army General said he’s not surprised by the turn out of eminent personalities across the country to celebrate the Olowu Kuta’s Olori because she merited it through her hospitality to all, adding that Allah the most merciful, most beneficial would accept all her act of ibadah.

The minister of Justice, Prince Fagbemi, was full of praises for Queen Jumai for deeming it fit to have a place in her heart to accommodate the needy and less privileged in ‘our society.’

Prince Fagbemi urged the guests to contribute generously to support the Foundation in order to continue to alleviate poverty and put a smile on the faces of the people.

” I congratulate you on your 60th birthday and Foundation Launch. I wish you many happy returns of the day and many more fruitful services to the country and motherland”, Prince Fagbemi added.

The celebrant, Queen Jumai who was grining from ear to ear thankfully said she was excited by the turn out and the response of the people to her foundation.

Queen Jumai, however, promised to continue to use her resources and donations received for the good of the needy and less privileged in the society.

” I want to appreciate my own Kabiesi Olofa of Offa , for his presence and im I’m using him as a point of contact to all other Kabiesis present here, the minister of justice and Attorney-General, you’re welcome, sir; Mrs Bola Shagaya, I salute your enterprise, Lt Gen Buratai, I’m grateful, sir; DIG Fayoade, Justice Falola and other dignitaries too numerous to mention, I thank you, all. To my darling husband, Kabiesi Olowu , I thank you immensely for your support. And to my family and friends, I thank you , all. E se pupo!”, she said.