• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Tuesday, June 3, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Oshiomhole urges Labour to revisit management of Pension funds

Pension

The Matters Press by The Matters Press
December 6, 2023
Reading Time: 2 mins read
0
Pension assets records N1.77trn increase in first half

Abuja, Dec. 6, 2023: Sen. Adams Oshiomhole has called on organised Labour to revisit the management of the Contributory Pension Funds.

RELATED POSTS

FCT ground rent!: Check your name if you own property

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

IMPI urges media to consider national interest in reporting security challenges

Oshiomhole said this at the 8th Quadrennial National Delegates Conference of the Academic Staff Union of Educational and Associated Institutions (NASU) on Tuesday in Abuja.

The theme of the conference was “Trade Unionism in the Era of Economic Crisis: Addressing the Increasing Poverty Level of Nigerian Workers”.

The former Governor of Edo State alleged that Federal and State Governments were borrowing from the contributory pension funds at a low interest rate, thereby breaching the concept of establishing the contributory pension scheme.

According to him, “I know I resisted the idea of contributory pension to be managed by Pension Fund Administrators (PFAs), when I was the NLC president.

“These PFAs are profit seekers. You cannot give me 6 per cent return on my pension savings at an interest rate of 25 per cent.

“This is unfair. It means the worker is getting poorer. You must not accept that because you are the greatest contributors to the economy.

“Today, the pension scheme is over N11 trillion deducted and ought to go into mortgage investments for workers who had retired.

“If the N11 trillion is put into mass housing, workers, upon their retirement, would not be homeless.

“I want to urge you all to revisit these monies that PENCOM is managing, who is borrowing and what are they doing with the money,” he said.

He added that the scheme was supposed to address workers social capital needs.

Oshiomhole also condemned the recent brutalisation of the NLC President, Joe Ajaero.

He, however, faulted the nationwide strike which temporarily grounded social and economic activities in the country for two days.

“Often times, Iabour leaders seek implementation of their demands from governments with biased positions that are not well articulated, giving the government officials upper hand in their negotiations.

He said the labour movement must always approach issues in a united front, even though the capitalists will always find ways to break or fragment them.

On the fuel subsidy policy of the government, Oshiomhole urged workers not to lament their sorry situation but to put on their thinking cap and wriggle out of the dire situation.

He said rather than spend time agonising over government policies that are not working in their favour, they should engage as a united front to press home their demands to those in authority.

Tags: Pension
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Property owners besiege FCT office to pay ground rent
Economy/Technology

FCT ground rent!: Check your name if you own property

June 3, 2025
News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

IMPI urges media to consider national interest in reporting security challenges

June 3, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
News

Malami’s opposition to Tinubu’s endorsement self-indicting – TDF

June 3, 2025
President Tinubu outlines new economic, monetary, foreign policies
Economy/Technology

CUPP goofs over President Tinubu’s 2027 endorsement by governors

June 2, 2025
Senate probes $3.5b with NNPC
Economy/Technology

Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling

May 30, 2025
Next Post
DMO raises N615bn Sukuk fund for roads

DMO auctions 4 FGN bonds valued at N360bn

Nigeria, Kuwait sign air agreement

Nigeria, Kuwait sign air agreement

Recommended Stories

2020 Finance Bill prescribes tax incentives

Tinubu Tax Reforms Explained in Layman’s Language

November 21, 2024
Experts validate Nigeria’s implementation strategies for success under AfCFTA

Nigerians urge FG’s intervention as cash crunch becomes unbearable

February 27, 2023
Global trade’ll grow to $30tn by 2030

Nigeria yet to benefit from US duty free trading waiver

January 27, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • FCT ground rent!: Check your name if you own property
  • Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,
  • IMPI urges media to consider national interest in reporting security challenges

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us