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Kebbi  Injects N3bn into NG-CARES, to Grant Loans to Micro, Small Businesses – THISDAYLIVE

Kebbi  Injects N3bn into NG-CARES, to Grant Loans to Micro, Small Businesses – THISDAYLIVE
thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.

Daily Trust - Kebbi govt succumbs to labour pressure, approves N3bn for g

By Thu Dec 31 2020 The Kebbi State Government has succumbed to the strike threat issued by organized labour unions by approving the release of N3 billion for the payment of gratuity of retirees in the state.  On December 11, the State Chairmen of Nigerian Labour Congress (NLC), Umar Halidu Alhassan, and that of the Trade Union Congress (TUC), Danladi Aliyu Dabai,  issued an ultimatum that by January 1, 2021 if the state government fail to pay workers their entitlements among which was retirees benefit the organized labour would shut down the state.

Daily Trust - 27 states not qualified to borrow from pension funds

Federal Secretariat, Abuja As of August 31, 2020, the pension assets under the management of PFAs were worth N11.35 trillion. Governors have declared interest to borrow from the fund, but the Pension Reform Act, 2014 (PRA, 2014) prohibits such borrowing. Section 89, subsection 1, paragraph C of the PRA, 2014, provides that a PFA shall not “apply any pension fund assets under its management by way of loans and credits or as collateral for any loan taken by a holder of retirement savings account or any person whatsoever.” Similarly, section 2, subsection 6 of the 2019 Regulation on Investment of Pension Fund Assets issued by PenCom provides that “A PFA shall not engage in borrowing or lending of pension fund assets.”

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