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New PENCOM initiatives dominate Stanbic IBTC Pension Managers’ forum
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
PRESIDENT TINUBU CONGRATULATES OTEGA OGRA ON ELECTION TO WORLD FEDERATION OF ADVERTISERS EXECUTIVE COMMITTEE
PRESIDENT TINUBU CONGRATULATES OTEGA OGRA ON ELECTION TO WORLD FEDERATION OF ADVERTISERS EXECUTIVE COMMITTEE
President Bola Ahmed Tinubu has congratulated his Senior Special Assistant on Digital Engagement, Strategy and New Media, Mr Otega Ogra, on his election to the Executive Committee of the World Federation of Advertisers (WFA).
The election took place today at the organisation’s Annual General Meeting, held during the Global Marketing Week Conference in Stockholm, Sweden.
President Tinubu described the development as a significant step for Nigeria’s growing influence in global communications.
He noted that Mr Ogra’s emergence as the only representative from West Africa and Sub-Saharan Africa on the Executive Committee reflects the depth of Nigerian expertise and the contribution of a new generation of young Nigerian professionals to global industry standards.
Mr Ogra was elected to the Executive Committee on the platform of the Advertisers Association of Nigeria (ADVAN), underscoring the role of Nigeria’s organised advertising and marketing industry in shaping representation at the global level.
The WFA is the leading global body for advertisers, representing over 150 multinational and Fortune 500 companies, alongside national advertiser associations across more than 60 countries, with a combined annual marketing spend running into hundreds of billions of dollars. Its Executive Committee is the organisation’s highest decision-making body, responsible for setting priorities and guiding global policy on responsible advertising, media transparency, sustainability, and the evolution of digital ecosystems.
President Tinubu noted that Mr Ogra’s election is both a personal distinction and a strategic opportunity for Nigeria and the African continent, placing them at the centre of global conversations on brand trust, platform accountability, innovation and the future of marketing and communications.
The President commended Mr Ogra, who also serves as Vice President of ADVAN, for his sustained contributions to strengthening Nigeria’s marketing and communications ecosystem, drawing on a career spanning leadership roles across the banking, manufacturing, and public sectors.
“Otega’s election reflects the growing recognition of Nigerian expertise and affirms our capacity to contribute meaningfully to the frameworks shaping global markets,” the President said.
President Tinubu added that the achievement aligns with his administration’s Renewed Hope Agenda, particularly in advancing the creative economy, strengthening digital governance, and positioning Nigeria as a competitive hub for innovation and enterprise.
Josh Faulks, CEO of the Australian advertiser association (AANA), and Simon Michaelides, Director General of the UK advertiser association (ISBA), also join the leadership team.
Current members of the executive committee, David Wheldon, President and Philip Myers, Deputy President, who is also the Chief Institutional Affairs and Corporate Communications Officer at Ferrero, continue in their current roles, as do all regional vice presidents.
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Hold Peter Okoye Responsible If Any Harm Comes To Our Member – NASRE Fires Back At Singer
Hold Peter Okoye Responsible If Any Harm Comes To Our Member – NASRE Fires Back At Singer
The Nigerian Association of Social and Resourceful Editors (NASRE) has raised alarm over an alleged threat by Afrobeat artist Peter Okoye (Mr P) against journalist and NASRE Directorate member, Mr Bayo Adetu, warning that the singer will be held responsible should any harm come to the journalist or his family.
In a press statement issued on April 20, 2026, NASRE’s leadership, led by Comrade Femi Oyewale, expressed concern over the incident reportedly occurring at the Ikoyi High Court during proceedings in the ongoing legal dispute involving P-Square and their elder brother, Jude Okoye.
NASRE views the alleged statement as inappropriate and unacceptable, stating that any language suggesting intimidation against a journalist performing lawful duties raises serious concerns about press freedom, safety, and professional ethics.
The association has therefore called on Mr Peter Okoye to retract the alleged statement and issue a public apology to Mr Bayo Adetu, while also urging all parties involved in the ongoing legal matter to conduct themselves with restraint, respect, and strict adherence to the rule of law.
Read the statement below:
PRESS STATEMENT
For Immediate Release
NASRE RAISES ALARM OVER ALLEGED THREAT BY PETER OKOYE (MR P) AGAINST BAYO ADETU IN COURT, WARNS OF CONSEQUENCES
The leadership of the Nigerian Association of Social and Resourceful Editors (NASRE), led by Comrade Femi Oyewale, expresses concern over an alleged threat issued by popular Afrobeat artist Peter Okoye, widely known as Mr P, against journalist and NASRE Directorate member, Mr Bayo Adetu.
The incident reportedly occurred at the Ikoyi High Court during proceedings in the ongoing legal dispute involving the music duo P-Square and their elder brother, Jude Okoye. Eyewitnesses present in court stated that Mr Peter Okoye drew the attention of Justice Alexander Owoeye to Mr Adetu’s presence, noting that he was formerly P-Square’s publicist but now works with his brothers. The remark reportedly generated reactions in the courtroom.
It is further alleged that after the court session, Mr Peter Okoye confronted Mr Adetu in the presence of others and said, “You, Bayo, I will set you up.”
NASRE views this alleged statement as inappropriate and unacceptable. Any language suggesting harm or intimidation directed at a journalist performing lawful duties raises serious concerns regarding press freedom, safety, and professional ethics.
We state unequivocally that should anything happen to Mr Bayo Adetu or any member of his family, Mr Peter Okoye will be held accountable. Such statements, when directed at a media professional, are taken with utmost seriousness.
NASRE will not tolerate any form of intimidation, harassment, or threat against its members. We are fully prepared to activate all lawful media and legal channels to protect our members and safeguard the integrity of the profession. Mr Peter Okoye must be aware that utterances of this nature carry consequences and he will be held responsible for any outcome arising from this matter.
We therefore call on Mr Peter Okoye to retract the alleged statement and issue a public apology to Mr Bayo Adetu. We also urge all parties involved in the ongoing matter to conduct themselves with restraint, respect, and strict adherence to the rule of law.
The safety of journalists remains paramount, and the media will not be silenced.
Signed:
Lateef Owodunni
Media Director, NASRE
April 20, 2026
celebrity radar - gossips
Fuji Star, Saheed Osupa Addresses Prado Controversy, Says Vehicle Was Compensation — Not Political Gift
Fuji Star, Saheed Osupa Addresses Prado Controversy, Says Vehicle Was Compensation — Not Political Gift
By Alhaji Arems (Baba Fuji)
Nigerian Fuji star Saheed Osupa has responded to a wave of political controversy surrounding his recent campaign appearance in Oyo State, clarifying that a vehicle linked to the debate was not a political gift but compensation tied to a professional engagement.
The backlash followed the circulation of a Facebook Reel showing Osupa performing at an event associated with Sharafadeen Alli, who has declared interest in the Oyo State governorship under the All Progressives Congress (APC). As the video gained traction, it sparked renewed scrutiny over entertainers’ roles in political campaigns and the assumptions that often follow such appearances.
Amid the reactions, individuals aligned with the Peoples Democratic Party (PDP) circulated claims on social media alleging that Osupa, alongside gospel artist Yinka Ayefele, had previously received luxury vehicles from the administration of Oyo State Governor Seyi Makinde. The claims, which remain unverified, framed the alleged gesture as an example of questionable public spending and raised concerns about political loyalty.
Osupa has since pushed back against that narrative, offering a different account of events. In a video statement, the artist explained that his involvement in the campaign was strictly professional, based on a negotiated performance agreement rather than any form of political alignment.
According to him, he was engaged to perform at campaign events with assurances that he would be adequately compensated after the election. He, however, alleged that those commitments were not fulfilled following the electoral victory.
Addressing the controversy surrounding the vehicle, Osupa stated that his personal car was damaged during the course of the campaign. He said the replacement vehicle later provided to him was intended as compensation for that loss, not a discretionary gift or political reward.
His response reframes the discussion from one of political patronage to a dispute over professional obligations—an important distinction in an environment where entertainers are frequently enlisted to support campaign visibility.
The episode highlights a recurring tension within Nigeria’s political landscape: the blurred line between performance and perceived allegiance. For artists, participation in campaign activities can quickly shift from paid engagement to public endorsement in the eyes of observers, particularly when details of such arrangements are not clearly communicated.
Osupa’s clarification brings that tension into focus, underscoring how easily professional engagements can be recast within political narratives. As conversations continue, the situation points to a broader need for transparency in the relationship between public figures and political actors—especially in moments where perception can carry as much weight as fact.
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