Okay, let’s bust some pension myths and inject some fun into your future financial planning!
Myth #1 – Pensions are only for older adults: Nope! Pension contributions are for anyone who likes not being broke in their golden years. The earlier you start, the sweeter the retirement party (thanks to superior investments!). Think of it as your younger self contributing to a comfortable retirement for your future self.
Myth #2 – My Money Will Magically Disappear: Pension funds are heavily regulated and protected by the National Pension Commission (PenCom). Your money isn’t financing someone’s yacht party. Pension Fund Administrators (PFAs) invest their funds strategically, aiming for safety and maximum growth.
Myth #3 – Pension contributions are super complicated: Sure, there’s some fine print, but trustworthy companies like FCMB Pensions are all about transparency. They’ll explain how your money works and answer all your (even slightly embarrassing) questions.
Myth #4 – The government will take it all in taxes: Often, pension contributions get sweet tax advantages. It’s like your reward for being a responsible adult. Think of those extra savings as funding that beachside margarita budget.
READ ALSO:PRP cautions Nigerian govt against tampering with workers’ pension
Myth #5 – I’m Young, I’ll Save Later (spoiler: bad idea!): Time is your secret weapon. The longer your money has to grow, the further it goes. Even small contributions now can turn into a legit retirement fortune. Procrastinating = more stress later. Start small, start now, and watch your egg nest grow, giving you peace of mind.
Myth #6 – I’m locked into my pension forever: You’ve got options because life happens, and pension plans know it. While there are rules to keep your savings safe, there’s usually flexibility built in. You can access some funds early in case of emergencies or choose different withdrawal options when you retire.
Pension contributions aren’t about getting rich quickly; they’re about becoming financially secure, slow, and steady. They’re the key to avoiding the “panicked retiree” trope and enjoying the fruits of your labour.
Need More Reassurance? Hit up the experts at FCMB Pensions. They’ve got your back!
The post Facts Only: Common pension fears and the truth appeared first on Latest Nigeria News | Top Stories from TVN.
Facts Only: Common pension fears and the truth
ASO ROCK WATCH: As Shettima dons the laundryman hat. One other talking point
The Vice President, Kashim Shettima, last week, stressed that his principal, President Bola Tinubu meant well for Nigeria’s north.
One other story from the Presidency was also reviewed for your reading delight.
1.Donning the laundryman hat
On June 26, Shettima said contrary to the views of some critics, Tinubu loved the north, and was not indifferent to the challenges of insecurity, and food security, bedeviling the region.
Speaking when he received a delegation from the Federal Government led by Femi Gbajabiamila, who were in Kano on a condolence visit, he had said: “…the President is a good man and with clean heart. He means well for Kano, for the North and the nation.”
Three days later, on June 29, Shettima fired back at those who made mockery of Tinubu’s misstep at Eagles Square, Abuja, during the democracy day celebration on June 12.
He was quoted as having said at a PEBEC Town Hall Meeting in Abuja, “When the President stumbled…It is not only disheartening and disenchanting, but stultifying and heartbreaking that some of our countrymen were celebrating.”
The Vice President’s seeming laundryman interventions may speak to desperate moves to fix certain perceived reputation management gaps observed in Tinubu’s unstable media team.
If that is not the case, then it could well be that Shettima has appointed himself ‘chief laundry officer’ to either impress his principal or occupy himself further, as his office may have had little tasks to deliver.
In the absence of both conjectures, Shettima’s remarks may have positioned the Vice President as a smart salesman determined to persuade the public about the values being delivered by the government and or the unappreciated worth of the country’s leadership.
READ ALSO:ASO ROCK WATCH: On Tinubu’s tough decisions for Nigeria. Two other talking points
Either way, Shettima gets commended for staying steadfast.
One other talking points
2. Ensuring cohesion among state governors
On June 27, President Tinubu encouraged state governors to work together to meet the needs of Nigerians.
“Our states must work together to deliver on the critical reforms required of us to meet the needs of our people. Time is humanity’s most precious asset. You can never have enough of it. It is getting late,” the president stated in Abuja.
Tinubu’s admonition, again, serves as a reminder of Nigeria’s fragile federal structure which has been bogged down by certain ill-defined relationships where the president is seen as a school headmaster dishing out instructions!
Until the needful is done by way of an honest conversation on the Nigerian project, the president may well be speaking to a bunch of greedy helmsmen whose driving goal is to corner state resources for private ends.
The critical question often asked, however, is does the centre hold better performance than the states? The answer may be blowing in the wind.
The post ASO ROCK WATCH: As Shettima dons the laundryman hat. One other talking point appeared first on Latest Nigeria News | Top Stories from TVN.
Varsities governing councils to be inaugurated July 4
The Governing Councils of Federal universities, polytechnics and other tertiary institutions will be inaugurated on July 4, 2024.
The Acting Vice Chancellor of the University of Abuja, Prof. Aisha Maikudi, made this known while giving her acceptance speech on Monday, while assuming the affairs of the institution.
A total of 560 individuals were appointed to the governing councils and boards of Federal Government-owned tertiary institutions.
President Bola Tinubu approved the reconstitution of the Governing Councils and Boards of federal universities, polytechnics and colleges of education.
In an earlier statement, the Permanent Secretary, General Services, Office of the Secretary to the Government of the Federation, Nnamdi Mbaeri, noted that the approval was given for the effective management of Nigerian tertiary institutions across the country.
For the University of Ibadan, the President appointed Chief Bisi Akande as the Chairman of the governing council. The board members are Alexander Ajipe, Nelson Alapa, Ifeoma Nwankwo, and Prof. Emmanuel Alo.
Chief Wole Olanipekun (SAN) was appointed as the Chairman of the governing council of the University of Lagos. The council members are Bello Kumo, Prof. Idowu Mark, Niyi Akande, and Bola Njoku
Isa Yuguda chairs the board of the National Open University. The council members are Goddy Etta, Yomi Balogun, Deborah Apah, and Hingah Biem.
Siyan Oyeweso was appointed to head the governing council of Obafemi Awolowo University, while Edward Sarki; Joseph Abaagu; Wahaab Owokoniran, and Abubakar Kachaalla are members of the council.
Adebayo Shittu, Muiz Banire, and Senator Florence Ita Giwa were appointed as the chairpersons of the governing boards for David Umahi University of Medicine in Ebonyi State, Federal University of Transportation in Katsina State, and Federal Polytechnic in Ugep, Cross River State, respectively among others.
BREAKING: Court dismisses Nnamdi Kanu’s N1bn suit against FG
Justice James Omotosho of the Federal High Court in Abuja, on Monday, dismissed the fundamental human rights suit filed by the detained leader of the Indigenous People of Biafra, Nnamdi Kanu, against the Federal Government.
Kanu sued the Attorney-General of the Federation and the Department of State Service for N1 billion in damages for alleged rights violations.
The IPOB leader, in the suit marked FHC/CS/1633/2023, claimed that the DSS and its Director General violated his right to a fair hearing by allegedly preventing his lawyers from having unhindered interactions with him while he was being detained in preparation for his defence in his criminal trial.
Justice Omotosho, while delivering a judgment on the suit, held that Kanu failed to provide credible evidence to sustain his claims that his interactions with his lawyers were interfered with, that he was denied unhindered access to his lawyers, and that DSS officials eavesdropped on his conversations with his lawyers, which constituted a breach of his right to a fair hearing.
Details shortly…
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from According.
Contact: [email protected]
Borno bombing death toll rises as acting gov visits victims
At least two more victims of the bomb attacks in Gwoza town in Borno State have lost their lives while receiving treatment at the State Specialist Hospital in Maiduguri.
The Acting Governor of the state, Alhaji Umar Kadafur, made this known in an interview with reporters during a visit to the hospital on Sunday.
Kadafur said out of the 42 injured victims who were admitted to the hospital, 16 of them have been discharged, while 24 were currently receiving treatment in the hospital.
The acting governor also announced that the state government had settled the medical bills of the victims and is ensuring they receive adequate medical attention.
He said that despite the attack, the fight against insurgency and terrorism must continue, adding the state government condemned the attacks on the people.
Kadafur also revealed that the perpetrators of the attacks took advantage of the laxity of vigilance by the people following the relative peace achieved in the state.
He also appealed to the people to be more vigilant and report any suspicious movement or persons they notice in their area to security personnel so as to avoid a similar occurrence of the incident.
Kadafur was accompanied to the hospital by the Senate Chief Whip, Senator Ali Ndume, a member representing Damboa, Gwoza and Chibok Federal Constituency in the National Assembly, Ahmadu Jaha, and other government officials.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from According.
Contact: [email protected]
Making Olympic timekeepers’ bells a labour of love
The air is stifling hot, with a heavy, metallic smell that sticks in the throat and stings the eyes.
In his foundry with smoke-blackened walls, Alois Huguenin uses an enormous ladle to pour molten bronze at 1,250 degrees Celsius (2,282 degrees Fahrenheit) into a metal frame.
For three generations, the century-old traditional foundry in La Chaux-de-Fonds in northwestern Switzerland — the cradle of the country’s famous watchmaking industry — has been crafting the bells used at the Olympic Games.
The bells are rung for a range of disciplines including athletics, track cycling, mountain biking and boxing.
Almost half a century after his grandfather made the first bell for the Moscow Olympics in 1980, Huguenin was preparing the bells for the upcoming Paris Games.
“If all goes well, one Olympic bell is three hours of work,” the 30-year-old, equipped with an apron, gloves and a protective screen, told AFP recently.
Huguenin said he had already delivered 38 bells for Paris, at the request of the Games’ official timekeeper Omega, which has its chronometric testing laboratory around 30 kilometres away in Biel.
“The bell is used to indicate to the athletes, as well as to the spectators, when the last lap has started,” said Alain Zobrist, who heads OmegaTime and is in charge of chronometry within the wider Swatch Group.
It tells the athletes “they must give it their all to reach the finish line as quickly as possible”, he told AFP.
Recalling that Omega has been timekeeping at the Olympics since 1932, he acknowledged that the bells constitute “a very traditional element”.
“Today, chronometry is done electronically. The bells are a nod to our past,” he said.
• ’Pride’ –
Ten minutes after pouring the molten bronze — with the texture and bright orange-yellow colour of volcanic lava — Huguenin can unmould the thick liquid, with a temperature of just 200C.
With heavy blows of his hammer, he breaks the hard, black-sand mould in the frame, as smoke billows out.
The bell that emerges is covered with a crust, revealing the work that remains to be done: deburring, sanding, filing and polishing.
Huguenin made his first Olympic bell for the 2020 Tokyo Games.
While not as obsessed by bells as some collectors can be, Huguenin says he is proud his creations are seen by billions.
“I put the same energy, the same passion into all the bells I make,” he said, explaining that he also makes bells for livestock, and increasingly for individual events like weddings.
“But to know that we are participating in our own small way in the big Olympic celebration is a source of pride.”
Huguenin said Olympic bells had been part of his life as far back as he could remember.
“Each edition, we watch TV to try to see if we can spot them,” he said, recalling how he kept an eye out for his father’s bells when he was younger.
And “for a few years now, I have been looking out for the bell that I made”.
• ”One step ahead” –
The bells used for each Olympics remain the same, with only the edition logo changing.
They are always emblazoned with the colourful Olympic rings, stand about 20 centimetres (7.9 inches) high and measure 14 centimetres (5.5 inches) across.
But each bell is nonetheless unique, Huguenin insisted, due to the use of traditional techniques, and recycling.
The clayey Paris sand used for his mould is not synthetic and is reused several times, he said, noting that some grains have been in service for 100 years.
As for the copper-tin alloy used for the bronze, it is made of individually-sourced recycled materials.
On the shelves near his wooden workbench, Huguenin keeps a souvenir collection of bells with defects that were made for previous Games in Atlanta, Rio and Athens.
But a few weeks before the opening of the Paris Olympics, he already has one eye on the future.
Bells need to be made for the 2028 Los Angeles Games, of course, he said, but “first there are the Winter Olympics in Milan Cortina” in 2026.
“I’m going to get started on it this autumn,” he said.
“I’m always one step ahead.”
AFP
Ooni unveils new hospital, promises free treatment for emergencies
The Ooni of Ife, Adeyeye Ogunwusi, has unveiled a medical facility, the Equity Health Group, a pioneering healthcare conglomerate dedicated to transforming the landscape of healthcare delivery, with a mission to provide accessible, high-quality medical services globally, fostering wellness and medical excellence within communities.
The facility which will be opened for public use today (Monday) will be launched officially on July 5 and 6, 2024 in Lagos State.
This was announced in a statement made available to According Online on Monday.
According to the statement, the revered monarch wishes to establish that a premium must be placed on humanity and life in particular, by ensuring no patient is denied quality healthcare due to financial constraints, especially in times of emergencies.
This development is the sequel to the monarch’s involvement and immeasurable investment in Nigeria’s health sector since becoming the Arole Oduduwa, particularly as demonstrated when the COVID-19 pandemic disease broke out, through the formation of a team of professionals and bringing together reputable medical research outfits, laboratories and other institutions to ensure that Nigerians are safe.
The statement noted that while addressing newsmen on the motivation for the healthcare conglomerate, the Ooni said, “The last pandemic drew my attention to a lot of untapped medical potentials of we black people especially here on the throne of Oduduwa, these stuff (Herbs and its likes) are what saved us from experiencing major challenges faced by most developed countries when no one regardless of riches or status could travel to seek medical attention abroad.
“I had to constitute a team of scholars particularly in the medical profession and veterans in the business/practice of the ancient herbal and alternative medicine who brainstormed on exploiting the best in our local herbal medicine, and this led to the discovery of potent solution through which beneficial products with which we combated and defeated the pandemic were discovered.
“I must hail the collaboration with the National Agency for Food and Drug Administration and Control, Afe Babalola University, Ado-Ekiti, National Institute for Pharmaceutical Research and Development and frontline medical research institutions in the country which brought us this far.”
He added, “I remember developing an initiative, called Pan African Foundation for Indigenous Medical Research and Development in 2020, during the celebration of African Traditional Medicine Day. All these activities have now snowballed into Equity Health Group; an international hospital and diagnostic centre with a lot of interlinked arms of medical solutions including drug manufacturing, pharmaceuticals and vaccine production among others. The best part of it is that this facility will source its ingredients locally, thereby strengthening the Naira while boosting the country’s productivity.
“Equity Health Group stands at the forefront of healthcare innovation, encompassing a diverse portfolio of subsidiaries. Through these subsidiaries, we endeavour to revolutionize healthcare delivery and promote well-being globally. At Equity Health Group, we believe in patient-centered care, innovation and integrity.
“Our watchword is to dignify human life by attending to all emergencies immediately regardless of the patient’s financial status. We will work to save lives first and not ask for papers or money from a dying patient.”
Speaking on his involvement, the Ooni revealed, “To the glory of God, I co-own the company with a young visionary entrepreneur – Dozy Mmobuosi who has a very clear and similar vision to take the black race out of over-dependence on the Western world for medicine. We combined efforts to make it a world-class medical institution and diagnostic centre.
“I am pleased to inform you that the company has three subsidiaries. The first is the Equity Specialist Hospital and Diagnostic Centre; a comprehensive hospital and diagnostic service that focuses on advanced medical technology and personalized care. Presently, it is situated in Lagos State with plans for expansion to other parts of the country and the United Kingdom.
“The second arm is the Equity Pharmaceuticals; a company that will leverage innovative technology to provide quality pharmaceutical products and services. Last but not least is the Equity Vaccine Laboratories; an arm that focuses on research and development of vaccines for global health security. With this, we aim to pioneer vaccines to tackle pressing global health challenges and ensure a safer future for all.
“In actualising the purpose of this outfit, we shall bring on board our higher institutions of learning particularly the medical arms of reputable universities including the Ojaja University, Eyenkorin, Ilorin, Kwara State which I own. This will cement the ‘town and gown’ relationship, thereby enhancing the productivity of our graduates.”
Ooni Ogunwusi who is the Co-Chairman, National Council of Traditional Rulers of Nigeria concluded that the advancement in health facilities in the country especially with the involvement of the private sector like the Equity Health Group, will provide a convenient spot for Nigerians to abolish the culture of foreign medical tourism.
“Aside from the provision of unequalled medical services for Nigerians in line with best global practice, Equity Health Group is structured to actively participate in global medical research especially in the area of vaccine production/development to safeguard global health. As the giant of Africa, Nigeria should be at the forefront of vital global medical conversations like the development of vaccines against malaria disease upon which we cannot afford to be dependent on the Western world.
“While I am neither a medical doctor nor a pharmacist, I passionately believe that we have what it takes to change the narrative of over-dependence on medical tourism to the developed countries. Beyond the area of research, Africa and indeed Nigeria can be a major powerbroker in the global pharmaceutical and medical industry”, the Ooni said.
Fight cholera like COVID-19, Lawmaker urges Nigerians
The lawmaker representing the Ikeja Federal Constituency in the House of Representatives, James Faleke has called on Nigerians to treat the cholera outbreak in some parts of the country with the level of seriousness they handled the Coronavirus pandemic.
Faleke made the call in an interview with the News Agency of Nigeria in Lagos State on Monday.
NAN reports that the Nigeria Centre for Disease Control recently reported that 53 deaths due to cholera had been recorded in the country.
Also, the NCDC Director-General, Dr. Jide Idris said the Federal Government had activated the National Emergency Operation Centre for cholera.
Idris said, “As of June 24, 2024, 1,528 suspected cases and 53 deaths were recorded across 31 states and 107 LGAs with a case fatality rate of 3.5 per cent since the beginning of the year.”
Reacting, Faleke said Nigerians should do more to curb the cholera outbreak.
He said, ”Every Nigerian needs to be careful, our attitude to cleanliness matters. The way we took COVID-19 seriously is the way we should take this cholera outbreak.
“Cholera has killed many people. We expected that, in this modern age, we should not be having an outbreak of cholera in Nigeria.
“However, it has come; so, we have to deal with it. People should be more careful with what they eat and drink.”
“There are many fake products out there. Stop taking fake products. You don’t have to drink anything, take clean water,” he advised.
The Lagos State Government, on Sunday, through the Permanent Secretary, Public Service Office, Sunkanmi Oyegbola, urged public servants to maintain good hygiene to avoid contracting cholera or other water and airborne diseases.
NAN
Tinubu condoles Ali Modu Sheriff over mother’s death
President Bola Tinubu has commiserated with the former Governor of Borno, Senator Ali Modu Sheriff, over the passing of his mother, Hajiya Aisa.
According Online reports that Hajia Aisha died on Sunday in Abuja after a protracted illness, at the age of 93.
She will be buried today, Monday, at the family residence of the late Galadima Modu Sheriff along Damboa Road in Maiduguri, Borno State Capital.
In a statement on Monday issued by his Special Adviser on Media and Publicity, Ajuri Ngelale, the President also condoled with the Modu Sheriff family.
He urged them to take comfort in the knowledge that the deceased lived an exemplary life defined by strong virtues and transitioned at the hallowed age of 93.
“The president prays that Allah grants the departed Aljannat Firdausi and comfort to her family,” Ngelale said.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from According.
Contact: [email protected]
Over 1,000 experts undergo training on AI digital technologies in Ibadan
On Sunday, over one thousand technology experts underwent free training on Artificial Intelligence at the Edge Global Conference organised annually by the American University of Technology in Ibadan, the Oyo State capital.
The Director of Programmes, American University of Technology, Seyi Akanbi, who made this known at a two-day conference tagged, “AI-Powered Digital Transformation Strategies”, said the Edge Conference was aimed at educating people on how to leverage the power of emerging technologies such as Artificial Intelligence, machine learning algorithm.
Akanbi said, “We want to find a way of contributing to the society. We don’t want to be part of the people complaining that things are not working. We want to find a way to see how we can make things happen, there is no perfect situation.
“We only have people that care about the country that wish to impact and this is how we can give back by helping people and see how we can contribute to whatever the government is doing and their aspirations.
“Today, Artificial Intelligence is critical in today’s world and governs our lives for example if you acquire a loan in a bank, the responses are AI-generated.”
In his keynote address, the Chairman of the Senate Committee on Aviation, Fatai Buhari, called for digital transformation in the Nigerian aviation industry.
Buhari, representing Oyo North Senatorial District in the Red Chamber, highlighted the urgency of adopting AI and other cutting-edge technologies to revolutionise the industry’s operations.
He emphasised that the aviation industry was at a crucial moment where AI and digital technologies could offer solutions to the challenges that hinder its full potential.
Speaking with According Online on the sideline of the programme, the Acting Registrar of the ATECH, Olubukola Adio, said the university was one of the open universities that would be licensed by the Federal Government to offer 100 per cent tech-driven programs.
Adio hinted that the institution was fully equipped with state-of-the-art facilities with electronic classes and developed software that will make teaching and learning seamless adding that the institution is out to beat other competitors in the sector.