Lagos disburses N47.4b into RSA

Lagos State Government has so far disbursed over N47.4 billon into the Retirement Savings Accounts, (RSAs), of the state retirees under the Contributory Pension Scheme.

 The Director-General, Lagos State Pension Commission (LASPEC), Rotimi Adekunle Hussain, disclosed this recently, at the 10th Retirement Bond Certificates presentation to employees, who recently retired from the state’s public service.

 Hussain, said the state government had been steadfast in its commitment at sustaining full implementation of Contributory Pension Scheme even beyond the present administration.

 He added, “From the inception of the scheme in 2007 to date the government has contributed about N47.4b being monthly deduction of 7.5 per cent of the basic, rent and transport allowances from the salary of every worker and counterpart 7.5 per cent contribution by the state government, into the RSA of every employee with the state approved Pension Fund Administrators (PFA).

“The development is in line with Fashola administration’s determination to make life meaningful for employees of the public service after their retirement.”

 He further explained that LASPEC remained resolute that every employee in the state public service is adequate equipped and empowered with the necessary knowledge contribution pension scheme before exiting the scheme.

According to him, the Lagos State Pension Reform Act 2007 is aimed at protecting the retirement benefits of the workers, promote good pension administration and reduce the risk mostly associated with the previous pension laws to the barest minimum.

To this end, Hussain advised all the retirees to live their life in retirement responsibly and not to engage themselves in businesses that could put their retirement benefits at undue risk

 Before this recent development, the state government was said to have paid a total accrued pension right of N18.97bn into the RSA of 3,489 retirees.

Adeniyi Idowu Adunola

US business group visits Nigeria, to partner entrepreneurs

An Atlanta, US-based group, Geek Gone Global, is currently visiting Nigeria to explore business opportunities in Nigeria and Africa.

Speaking with journalists after the visiting team was hosted by the Managing Director of Shod Systems Nigeria, Alhaji Hassan Sharafadeen; the head of the delegation, Faruq Hunter, who is the CEO of GeniusCorps Inc, US said the company is a conglomerate of 16 companies that came together to partner Nigeria and African countries with the objective of solving some problems associated with African rural communities.

“We are encouraging Africans to do things on their own and accomplish goals. We believe that Africa is investment haven, especially in the sectors like software development, distribution of energy and water and mostly agriculture. It is all about allowing the people to take control of their lives and destiny. We encourage African to shun the importation of food and make use of their local materials to boost their economy. The problem isn’t opportunity but awareness. So we are here to create awareness,” he said.

Geek Gone Global will also visit places like Dakar, Johannesburg, Cape Town, Nairobi and Cairo.

Earlier, Hassan had stated that the group and his own company have the same vision, which according to him, is to encourage and assist young Nigerians entrepreneurs start their own business at minimal cost by providing virtual office space opportunity to serve as soft landing and rapid smooth start up. 

“We encourage youths to become entrepreneurs early enough as this will further boost Nigeria economy instead of relying on government jobs that might not come,’’ Hassan said.

 By Adeniyi Idowu Adunola

Old students sue Osun over schools’ reclassification policy

A GROUP of old students of St. Charles Secondary School, Osogbo, Osun State, has asked the court to stop Governor Rauf Aregbesola from including the school in the ongoing merger and reclassification in the state.

  The suit, filed by a current student and Chief Funsho Abiri, a 1975 graduate of the school respectively, is seeking the court’s declaration that the governor’s action is illegal, null and void.

  In a motion ex-parte filed by their counsel, O.G. Olujimi & Co., the claimants are asking the court for, among others, an order of interlocutory injunction restraining the defendants from reclassifying the school pending the hearing and determination of the substantive suit on the matter.

  Also, in a motion on notice, they contended that the governor’s executive declaration violated the Education (National Minimum Standards and Establishment of Institutions) Act CAP of 2004 and the National Secondary Education Commission et al Act CAP of 2004, both of which prescribes a national structure for secondary schools for the country and vest the power for restructuring them in the Minister of Education.

By Adeniyi Idowu Adunola

Bonluck debuts with buses, coaches

With improved high end technology aimed at upping the ante in the bus and coach segment, a Chinese motor company, Bonluck Nigeria Limited, has thrown its hat into the Nigeria market ring.  

  The company, which has over five decades of experience in building buses and coaches, is coming into the market with several unique selling propositions as enunciated by its Regional Managing Director, Friday Yange.

  At a briefing to herald the commencement of its operation in Nigeria, Yange said that the company’s product, which was from the stable of Jiangxi Kama Business Bus Company Limited of China, stands out as the preferred brand.

  He disclosed that Bonluck products had successfully passed Standard Organisation of Nigeria Products Assessment Conformity Program (SONCAP), Australia ADR Certification, US DOT Certification and EU ECE Certification.

  Bonluckbus is the first Bus and Coach manufacturer in China, exporting in large quantities to developed countries including the US and Australia with its intellectual property and Chinese national brand.

  The managing director noted: “Our products include 12 major series, covering all models of six-metre to 15-metre high-end passenger vehicles for inter city transportation, urban passenger vehicles, road passenger vehicles, Motor homes, special vehicles and commercial vehicles. In addition to marketing of compressed natural gas (CNG) luxury passenger vehicle and urban passenger vehicle, hybrid power passenger vehicle and urban passenger vehicle using Zinc air fuel cell.”

  He also stated that, the company has an international network of auto manufacturers and dealers adding that this will “enable us to source and import vehicles of all types and specifications upon customer’s request - should such vehicles are not readily available. Lead-time for these imports range from as low as four weeks to three months depending on the vehicle. We offer our corporate clients full package of services which include, full after-sales service support and repairs, one to two-year warranties depending on the vehicle, genuine spare parts, fleet branding and financial options.

  According to him the operation in Nigeria and Africa region would be specially for the sale of buses and coaches because they are ardent and strong believers in innovation; taking “pride in our various products and relationships, poised to become a preferred brand to our target market by providing efficient, durable, innovative products and services.”

  He assured that Bonluck understood that as times and market evolve, it will continue to re-invent, re-align and diversify its business interest such that it can remain competitive - evolving into auto assembling and manufacturing to serve Nigeria and the whole of Africa.

  The company plans to position itself as the preferred Bus and Coach Brand by providing cost effective and durable product through prompt after sales service support to customers and good returns to stakeholders.

  The company in China covers a total area of 150,000㎡ with 30,000㎡ of workshop area and has a modern production system and assembly plant. With a production capacity of 5,000 units of buses and coaches annually there is room for 10,000 units per year after expansion.

By Adeniyi Idowu Adunola

Primate Udofia Tasks Politicians On Forgiveness

PRIMATE of the African Church, His Grace, Rev. Emmanuel Udofia, has advised politicians to remain focused and forgive one another, as that is the mark of God’s children.

  He made this known during his visit to African Church, Salem, Lagos, recently. He said: “If we don’t forgive one another, nothing good will come out of it.”

  He said they should be disciplined and be exemplary role models, showcasing the qualities of Christ, as the light unto other people’s darkness, for the nation, society and the Church to be the very best, to happily live in and serve, at all times.

  He added that whatever they do now, they should remember that one day they would give account to God. “Wherever we are, we are there because God wants us to be there. And one day, He will call us to give account of it”.

  He urged them to rule in the fear of God, noting “When they have the fear of God in them, they will be able to plan well and do what they want to do with passion.”

  He also advised Christians wishing to go into politics to do so but that they should have the mind of serving and not for how much money will be earned in a month, how much money will come to his constituency or how much money he will embezzle. Rather, they should go there with the heart to serve their fatherland. “I believe if these was practiced, Nigeria will be a better place.”

By Adeniyi Idowu Adunola