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Oyo: Makinde pays N180 million gratuity to 2013 retirees

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The Oyo State government, on Monday, released the sum of N180 million as part of the outstanding gratuity and pension arrears for 2013 retirees from the civil service.The state governor, Engineer Seyi Makinde, while conducting a symbolic presentation of cheques to some of the retirees at the Government House, Agodi, Ibadan, vowed to ensure that retirees get what they deserve from the government.

He stated that those who have served diligently needed all the support they can get from the state.

He added that ordinarily, the payment of gratuity to retirees should come immediately after retirement, noting that he was honoured to present the symbolic cheques to beneficiaries who finished the processing of their retirement papers in 2013.

According to a statement signed by the Chief Press Secretary to Governor Makinde, Mr. Taiwo Adisa, Governor Makinde stated that despite the meagre resources available to the state, his administration would continue to bring relief to the entire workforce in the state and its senior citizens.

He said: “I welcome you to the symbolic presentation of cheques to retirees who finished the processing of their retirement papers in 2013. In total, 82 of these retirees will be paid their full retirement benefits.

“Seven years is a long time for anyone who could not work to wait to get paid their benefits. Such payment should ideally come immediately upon retirement and it is indeed disheartening that the previous administration did not do what was supposed to be done when it should be done.

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“While I was crisscrossing the state in search of support for votes, what I heard from everyone including the pensioners, is that I should forget about what the previous administration did or did not do but focus on those things that we wanted to do. And this is why we will not dwell on what the previous administration did not do. We will focus on the things that we have to do and those things we want to do. We will take full responsibility even for things that they ought to have done but did not do.

“This administration remains committed to finishing whatever things the previous administrations have left undone, and these include payments of this nature.”

The governor maintained that the state has a backlog of N26 billion in unpaid gratuities for 6,274 pensioners in the state, adding that his administration has been making efforts to offset the alarming debt despite the limited sources of funds for the government.

“I give you a promise that as our economy is getting expanded, so also we will be adding more to what we need to pay to pensioners to ensure that we shorten the period within which we can offset this debt.

“When a child inherits fortune from his father, he will not reject it. In the same way, if he inherits debt, he is duty-bound to do something about it and that is what I just explained. We are doing something about it. We are aware of this debt even while going around for electioneering but what we did not know at that time was the capacity to pay and also how the finances of the state were being managed, prior to our coming on board,” the governor said.

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He added: “As I said during my broadcast in commemoration of our administration’s one year in office, we have paid more gratuities and entitlements in one year than the previous administration did in eight years. This was possible because we increased monthly allocation for gratuities from N100 million to N180 million with effect from June 2019 and what this means is, we have committed one billion, nine hundred and eight million Naira (N1.908 billion) to this payment in the past one year with a total number of 886 retired civil servants, hospital workers, teaching and non-teaching staff benefitting.

“When we came in, we still had the gratuities arrears of 2011. Now, we have completed the arrears of 2011 and 2012 and we are now on 2013. I give you the assurance that we will keep paying off these debts and I know we will finish paying them.”

The governor reiterated the determination of his administration to ensure that everyone in the state feels the impact of governance.

Earlier, the Commissioner for Establishment and Training, Prof. Kehinde Sangodoyin said the increase in the release for payment of gratuity from One Hundred Million Naira (N100m) that was paid by the last administration to One Hundred and Eighty Million Naira (N180m) by the Makinde administration has alleviated the suffering of the helpless retirees and has gone a long way to project this administration as a people-centred government

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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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