Author: National Record

I know retirees who have been on retirement for 8 to 9 years. The balance in their RSAs today is slightly higher than it was after they collected the initial lump sum. What that means is that for 8 and 9 years, the pensions they have been collecting have been coming from the return on investment. It is therefore not possible for the pension of these retirees to terminate after fifteen years when there is fund in the RSA to continue to pay monthly pension. Since the commencement of the CPS in 2004, retirees under programmed withdrawal have had their monthly pension enhanced twice. The quantum is a discussion for another day.

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Contributing to the discussions on the Union’s political statement in the wake of the pandemic, Comrade Aremu subscribed to the view that “decades of de-industrialisation and reliance upon global networks of production and trade have depleted the capacity of Africa to produce or commandeer at short notice essential goods, from food to personal protective equipment—even basic pharmaceutical and medical supplies”. He observed that the recent massive disruption of the supply chain from China calls for reindustrialisation, value addition and self-reliance in Africa.

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In January this year, Uruguay became the first country to ratify and as at today, it remains the only country that has ratified the Convention. Ratification by Nigeria would make Nigeria the 2nd ratifying country and it would enable the Convention to come into force, twelve months after. Is Nigeria ready to make history and be counted among ILO member States that set the pace for establishing a framework for human progress and scoring victory for humanity on an international basis? This is the critical historical challenge that ratification or non-ratification of Convention 190 poses to the current Federal Government of Nigeria.

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