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Ex-Oyo HoS, Eniade urges workers to prepare, reveals tips to ‘no regrets’ retirement

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A former Head of Service (HoS) in Oyo State, Mr. Soji Eniade on Saturday encouraged retirees to be ahead of time in preparing for their retirement the moment they get employed, just as he shared specific retirement tips.

Eniade , while speaking at a reunion program organised by the 1997 set of Bishop Phillips Academy, Ibadan, also stated that financial issues have  made pension unreliable as state governors are finding it extremely difficult to be up to date in salary payment.

The ex-Head of Service, who was  ill-at ease over the already gloomy unemployment situation in the country said , ” It is unfortunate that many graduates who are unemployed are still in the labour market so many parents who invested in their children’s education suffer from this”.

According to him, “It is important for every hale and hearty employee to prepare for his retirement right now. While I was in active service. My mother gave me two advises: don’t use all your hands to eat and don’t use your money for bean cakes (enjoyment). It is important for workers to start preparing for retirement right from the day they start working,”he said.

“I am not vast about the retirement pattern in the private sector because I served in the public sector. In most cases when some organizations restructure, they will have to downsize, extinction, bankruptcy, and other factors can cause retirement.

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“Due to the many challenges of pension in the country, the federal government adopted the British model of contributory pension but it has failed because many states of the federation can’t meet up because they refuse to pay.

“In essence, financial issues have made pension unreliable. How do you expect states that can’t pay salary to pay pension? I’ll use this moment to commend Governor Seyi Makinde, he is doing well in that regard.

“In Britain, retirement life is very easy because you are entitled to various things like free basic healthcare and transport ticket but all these are not readily available in Nigeria. Most retirees in our country use their pension to buy drugs to feed themselves in life”, he submitted.

Sharing tips on how workers can secure a good retirement plan, Eniade continued: “Good and trusted relationship with spouses. Good upbringing and quality education for our children. The holy Bible says ‘train your child and he shall give you peace.

“During our days, public education had great quality and schools like Bishop Phillips Academy that were privately owned was heavily subsidised by the government making it affordable for everyone but the situation is not the same today again. In this case, all of us must continue to advocate for quality public education in the country.

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“The fourth point is good healthcare”, he emphasized.

Also commenting at the event is a three-time Commissioner in Oyo State, Dr. Morounkola Thomas, who spoke on the topic: ‘Importance of quality education in nation building: the place of alumni group under review’.

The former Executive Assistant to late Governor Abiola Ajimobi on political matters, noted that the place of alumni association as a critical stakeholder in the provision of quality education in schools is of essential importance.

Earlier in his welcome address, the Ibadan Regional Chairman of the 1997 set of the alumni association, Pastor Oyewale Oyegoke appreciated all members who took their time to attend the reunion program despite their tight schedule.

Speaking further, he revealed that in 2020, the alumni association embarked on a project titled ‘operation zero tattered cloth and footwear’.

According to the Chairman, the project, which involves the provision of new school uniform and footwear for students with tattered ones; recorded a success story, assuring that the association is determined to do more.

Dignitaries present at the epoch -making event include, the National Chairman, Bishop Phillips Old Students’ Association, Ibadan Region, Alhaji Adekunle Ogunshola; National chairman, 1997 set, Mr. Femi Akintayo among others

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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