By Afolabi Oyekunle A 𝘗𝘶𝘣𝘭𝘪𝘤 𝘗𝘰𝘭𝘪𝘤𝘺 𝘈𝘯𝘢𝘭𝘺𝘴𝘵 & 𝘎𝘰𝘷𝘦𝘳𝘯𝘢𝘯𝘤𝘦 𝘚𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘴𝘵, 𝗦𝗵𝗮𝘁𝗮𝗺𝗶 𝗧. 𝗕𝘂𝗺𝗯𝗮 has faulted the inconsistent in the Contributory Pension Scheme. He said under the scheme, the senior citizens are being systematically impoverished by a financial model that fails to account for macroeconomic volatility. He posited that while the National Pension Commission (PenCom) frequently celebrates the growth of total pension assets, now exceeding ₦30 trillion, the purchasing power of the individual retiree is being aggressively eroded. "The system may have eliminated the long physical queues of the old Defined Benefit era, but it has replaced them with a quiet, digitized destitution." Consider the empirical flaws currently affecting our retirees: • 𝗧𝗛𝗘 𝗡𝗘𝗚𝗔𝗧𝗜𝗩𝗘 𝗥𝗘𝗔𝗟 𝗥𝗘𝗧𝗨𝗥𝗡𝗦: In the recent fiscal cycle, many Pension Fund Administrators (PFAs) reported returns on Fund II (the default fund f...
Afolabi Oyekunle. In view of the recent train accident along Warri- Itakpe route in which five persons lost their lives and many with serious injuries, the Managing Director of Nigeria Railway Corporation, Dr. Kayode Opeifa has reiterated the commitment of the Corporation to safety of passengers. Dr. Kayode Opeifa while speaking on TVC channel gave further information on the accident. NRC MD. Dr. Kayode Opeifa According to him a total of 482 persons were on board: 442 passengers. 40 crew members and support personnel. He confirmed that about 40 persons sustained injuries, while approximately 25 of the injuries are classified as serious traumatic injuries. while some injured victims have already been discharged, and others remain under medical care. Dr. Opeifa assured that NRC has commenced contact tracing using passengers manifests and ticketing records. The Corporation pledged transparency throughout the investigation process. He assured that NRC and...