A destroyed refinery By Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks. Also, the company said 63 illegal pipeline connections were uncovered during the the weeks . The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge. According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation. It further said that two large boats, which involve
By Akinola Ajibade
The recent recapitalisation exercise in the pension industry will bring about increased effectiveness and efficiency as well as improved service delivery in the sector, the Director-General, National Pension Commission, Mrs. Aisha Dahir-Umar, has said.
She spoke at the 2022 workshop organized by PenCom for journalists in Lagos recently.
According to her, PenCom would continue to develop and implement innovative polices, with a view to foster safety and fair returns on pension fund investment as the pension industry and financial system evolves.
Represented at the event by the PenCom's Head of Corporate Communications Department, Mr. Abdulqadir Dahiru, Dahir Umah said that the Commission is taking strategic steps, in order to encourage workers in the informal sector of the economy to participate in the Micro Pension Plan and further expand the Contributory Pension Scheme (CPS).
Speaking further, she said the theme of the workshop, "Increasing Informal Sector Participation in the Contributory Pension Scheme (CPS): The case for Micro Pension Plan”, aligns with the Commission’s objective of expanding coverage of the CPS.
The objective of the workshop, she said, is to bring in to the CPS, Nigerians working in the informal sector and those who are self employed through the Micro Pension Plan (MPP), noting that “it is of utmost importance to educate the media on the MPP and enlist your support to make the Plan popular amongst informal sector workers and the self-employed.
She added that the Commission’s directive to increase the Minimum Regulatory Capital (Shareholders’ Fund) from N1 billion to N5 billion. was to ramp up the capacity of the Pension Fund Administrators to manage the increasing number of registered contributors, and the value of pension fund assets.
She disclosed that as at June 30, 2022, the number of registered contributors and the pension fund assets stood at 9,795,957million and N14.27 Trillion, respectively.
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