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

Inside the Success of Yoruba Cinema’s Biggest Stars

Published

6 days ago

May 27, 2026

Sahara Weekly

Inside the Success of Yoruba Cinema’s Biggest Stars

King of the Screen: Why Odunlade, Muyiwa, Femi Adebayo Remain Yoruba Movie Giants

The Yoruba movie industry has continued to produce legendary talents whose influence stretches beyond Nigeria to global audiences. Over the years, some actors have distinguished themselves through consistency, versatility, box office success, and cultural impact.

Among the numerous stars in Nollywood’s Yoruba sector, three actors have remained dominant figures whose names constantly resonate with fans and filmmakers alike — Odunlade Adekola, Muyiwa Ademola, and Femi Adebayo.

Odunlade Adekola: The Street King of Yoruba Cinema

Popularly regarded as one of the most entertaining actors in Nollywood, Odunlade Adekola has built a unique reputation through his energetic delivery, comic timing, emotional depth, and strong connection with grassroots audiences.

From comedy to action and emotional family dramas, the actor has consistently proven his versatility in blockbuster productions. His ability to interpret diverse roles effortlessly has made him a household name across Nigeria.

Industry observers believe his dominance on social media platforms, where his movie clips frequently go viral, has further strengthened his popularity among younger audiences.

Beyond acting, Odunlade has also contributed immensely to mentoring upcoming talents and expanding the commercial value of Yoruba films.

Muyiwa Ademola: The Master Storyteller

For many lovers of indigenous movies, Muyiwa Ademola remains one of the finest storytellers the Yoruba film industry has produced.

Widely respected for producing emotional and morally driven movies, the actor earned massive recognition through classic productions that focused on family values, culture, betrayal, perseverance, and societal lessons.

His calm delivery, deep scripts, and originality have kept him relevant despite changing trends in the entertainment industry.

Film critics often describe Muyiwa Ademola as one of the few actors whose productions combine entertainment with strong cultural education, making his movies timeless among older and younger viewers alike.

Femi Adebayo: The Modern-Day Box Office Force

Femi Adebayo has successfully combined traditional Yoruba storytelling with modern cinematic excellence, helping to project indigenous films to international audiences.

The actor, filmmaker, and producer has recorded major successes with high-budget productions that gained attention on streaming platforms and cinemas.

Known for his professionalism and attention to detail, Femi Adebayo has continued to push Yoruba movies beyond local boundaries while preserving cultural identity.

Entertainment analysts say his ability to blend culture, technology, and quality production has positioned him among the leading faces shaping the future of Yoruba cinema.

Growing Global Influence

The success of these actors reflects the increasing acceptance of indigenous Nigerian content globally. With streaming platforms creating wider access to local movies, Yoruba actors are now gaining international recognition and attracting new audiences.

Fans and stakeholders in the entertainment industry believe the contributions of Odunlade Adekola, Muyiwa Ademola, and Femi Adebayo have not only sustained Yoruba culture through film but have also elevated Nollywood’s global reputation.

celebrity radar - gossips

Eid-el-Kabir: Olowu of Kuta Urges Peace, Unity, Selflessness Among Nigerians

Published

6 days ago

May 27, 2026

Sahara Weekly

Olowu Kuta To Yoruba Obas: Uplift Culture And Tradition Of Our Forebears

Eid-el-Kabir: Olowu of Kuta Urges Peace, Unity, Selflessness Among Nigerians

The Olowu of Kuta, HRM Oba Dr. Hammed Makama Oyelude, CON, Tegbosun III, has called on the Muslim Ummah and all Nigerians to make peace, unity, and selflessness their guiding principles as the world marks this year’s Eid-el-Kabir celebration.

In his Sallah message, the revered monarch described Eid-el-Kabir as a “highly spiritual occasion that demands dedication, commitment, and selflessness.”

Oba Makama said the period should be used to reflect on societal happenings and promote messages of hope and unity without inciting provocation.

He urged Nigerians to live together harmoniously, irrespective of religious, political, or tribal affiliations, stressing that politicians should exercise restraint and avoid inflammatory rhetoric ahead of the 2027 general elections.

“What should be uppermost in the mind of every patriotic Nigerian is **‘Country first,’” he said.

The monarch also appealed to citizens to remain vigilant in the face of insecurity, reassuring that the armed forces and paramilitary agencies are working round the clock to ensure a smooth and peaceful celebration.

“The price wise men pay for eternal liberty is vigilance. I urge everyone to celebrate moderately and extend a helping hand to the less privileged, widows, and orphans, embracing them as our brothers and sisters,” Olowu Makama added.

He concluded by wishing all Nigerians a peaceful and fulfilling Eid-el-Kabir celebration.

celebrity radar - gossips

Oba Babatunde Saliu Elebo II Felicitates Muslims on Eid-el-Kabir Celebration

Published

6 days ago

May 27, 2026

Sahara Weekly

Oba Babatunde Saliu Elebo II Felicitates Muslims on Eid-el-Kabir Celebration

By Adeyemi Obadimu Veron

The Oloworo of Oworosoki Kingdom, Oba Babatunde Saliu Elebo II, has extended warm greetings and heartfelt felicitations to Muslims across Nigeria and the world at large on the joyous occasion of the 2026 Eid-el-Kabir celebration.

In a statement made available to Newsmen, the revered monarch urged Muslims to embrace the true teachings of Islam by promoting peace, love, unity, sacrifice, and compassion during and after the festive period.

Oba Babatunde Saliu Elebo II noted that Eid-el-Kabir, also known as Salah, remains one of the most significant celebrations in Islam as it symbolizes total obedience, faith, and devotion to Almighty Allah, drawing inspiration from the unwavering sacrifice of Prophet Ibrahim (Abraham), who demonstrated complete submission to the will of God.

According to the monarch, the Holy Qur’an teaches believers the importance of righteousness, kindness to humanity, tolerance, and support for the less privileged in society. He emphasized that the season should serve as a reminder for all Nigerians to live in harmony irrespective of religion, ethnicity, or political differences.

The royal father further called on Muslims to use the sacred period to pray fervently for peace, stability, economic growth, and sustainable development in Nigeria, stressing that national progress can only thrive in an atmosphere of unity and mutual understanding.

Oba Saliu also encouraged the faithful to extend hands of generosity to widows, orphans, and vulnerable members of society, noting that the essence of Eid-el-Kabir goes beyond celebration and feasting, but also reflects the spirit of sharing and caring for humanity as instructed in the Qur’an.

While wishing Muslims a peaceful and memorable Eid celebration, the Oloworo of Oworosoki prayed for divine blessings, prosperity, good health, and continued harmony in homes and communities.

“May this year’s Eid-el-Kabir strengthen our faith, deepen our love for one another, and bring renewed hope and abundant blessings to our nation,” the monarch stated.