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Oyo releases N1.5bn for payment of gratuity to retired primary school teachers, LGs workers

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• Approves new financial benefits for workers

Oyo State Government on Tuesday said that it has released the sum of One Billion, Five Hundred Million Naira (N1.5bn) as part payment of outstanding gratuity and pension arrears to retired primary school teachers and local government workers in the state.

Also, the Governor of Oyo State, Senator Abiola Ajimobi has approved that the current salary of workers in the state be paid with their new financial benefits in line with 2012 – 2016 promotion exercise as recommended by the Technical Committee set up by the governor on February 14, 2019.

The government stated that the sum of Seven Hundred and Fifty Thousand Naira (750M) will also be contributed quarterly by the Local Governments and its Local Council Development Areas (LCDAS) in the state for the same purpose in order to offset the accumulated gratuities of the retired local government workers including retired primary school teachers at all grade levels.

The State Government said this during a joint Press Conference involving the representatives of the State Government, the Local governments Chairmen, the Pensions Board, the Nigeria Union Pensioners and some of the affected pensioners at the Film Theatre, Ministry of Information, Culture and Tourism, Secretariat, Ibadan.

The Attorney General and Commissioner of Justice, Mr. Oluseun Abimbola explained that the decision was taken after the out of court settlement between the state government and the NUP, saying that retired LGs workers should visit their various local governments to know the modalities involved in the collection of their gratuities.

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Abimbola, who was with his counterparts from the Ministry of Local Government and Chieftaincy Matters, Mr. Bimbo Kolade and Ministry of Information, Culture and Tourism, Mr. Toye Arulogun stated that the NUP and government recently received the enrolled order of the National Industrial Court, Ibadan Division delivered by Hon. Justice Dele Peters, ratifying the terms of out of court settlement agreed between the Government and the Pensioners’ Unions on Monday March 4, 2019, stressing that the government has commenced the payment of the N1.5bn.

He noted that the out of court settlement proffered solution to the about 12 years of pensions arrears and gratuity, stating that steps have been taken to ensure that all due pensions will be      paid as at when due without adding it to the arrears on ground.

Abimbola said, “the resolution and the court’s pronouncement recognized that the accrued Pension and Gratuity arrears was, and remains the statutory duty and responsibility of the Local Government to pay to retirees of primary school teachers as well as the local government staff, thus the Oyo State Government never had the liability nor obligation by law and is not the one owing this arrears as being speculated in some certain quarters. Nevertheless, Governor Ajimobi intervened and directed we engage all stakeholders to ensure a final resolution of this age-long matter inherited by this administration.

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We have also agreed with the NUP as part of the terms of resolution to immediately commence a biometric exercise in order to eradicate any hidden incident of ghost workers/pensioners in the local government service or teaching service,” the Attorney General said.

In his address, the Commissioner for Local Government and Chieftaincy Matters, Mr. Bimbo Kolade reiterated that the payment is for both deceased and living retirees, calling for maximum cooperation from the NUP so that the government efforts in alleviating the suffering of the retirees will be fruitful.

Speaking on behalf of the pensioners, the State Secretary of NUP, Comrade Olusegun Abatan thanked Governor Abiola Ajimobi  for the kind gesture in settling the many years of imbroglio affecting the retired primary schools teachers and local government workers in the state, urging that the government should ensure that the next disbursement as agreed in the terms of settlement is ready as at when due.

The representative of local government chairmen, Chief Bosun Ajuwon, assured that local governments will live up to their expectation as all chairmen have budgeted a huge amount of money to be set aside monthly to ensure prompt payment of the outstanding, regretting that the pensioners’ arrears which predated this administration was just being resolved.

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Implementation commenced immediately with the cheque presentation to some of the retirees after the Press briefing, while the process with payment to other pensioners are expected to continue tomorrow.

 

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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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