Nigeria: First Alliance Applauds Pencom's Activities

	Email This Page Print This Page Comment on this article Visit The Publisher's Site

Leadership (Abuja)

11 October 2008
Posted to the web 11 October 2008

The ag. chief executive officer of First Alliance Pension and Benefits Limited, Aliyu Yar'Adua, has applauded the activities of PENCOM in ensuring excellent regulation of pension administration in Nigeria.

While speaking with LEADERSHIP WEEKEND, Yar'Adua stated that the Federal Government of Nigeria should be commended for setting up PENCOM as a regulatory body.

Commenting on the defaulters of the Pension Act 2004, he said that the employers alone should not be blamed as the employees also have a part to play. He stated that, while employers are reluctant to remit the expected amount due, the employees on the other hand should not fold their hands but instead take positive stand in ensuring that their future is protected and provided for.

He further stated that though there are defaulters of the pension act as published by PENCOM, despite this, some of the published organisations have taken steps in ensuring that they complied with the provision of the Act. He commented that Pencom would not hesitate to take appropriate action on the defaulters of the Act.

Speaking on the benefits of pension fund to the economy, Yar'Adua said it enhances long term benefit and improves the living standard of the people. According to him, pension fund, since inception, has been able to mot-up huge amount of capital running into trillions of naira and this invariably has been channeled into the economy, thereby improving the living standard of the people.

Read comments. Write your own.

AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.

Share this on: Facebook Digg Del.icio.us StumbleUpon Muti

Copyright © 2008 Leadership. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections -- or for permission to republish or make other authorized use of this material, click here.

Make allAfrica.com your home page | RSS Feed Sign up for FREE daily 'top headlines' by email >>

Top | Site Guide | Who We Are | Advertising | Search | My Account

Questions or Comments? Contact us. Read our Privacy Statement.