Sunday, May 19, 2024
Home Uncategorized FG INCUR MORE FINANCIAL LIABILITIES AS SENATE PASS POLICE PENSION BILL

FG INCUR MORE FINANCIAL LIABILITIES AS SENATE PASS POLICE PENSION BILL

 

Amidst dwindling revenue and fiscal crisis, the federal government may incur additional N2trillion liabilities if President Bola Ahmed Tinubu signs the Police Pension Board Bill into law.

The (PenOp) described the Bill as retrogressive and unsustainable.

In a statement by the Contributory Pension Scheme (CPS) explained that,
the withdrawal of the police from the CPS will cause a shift back to the defined benefits scheme, leading to the dismantling of the institutions, systems, and processes that the government has established to manage.

Adding that, it will add financial burden on the government through unsustainable pension obligations.

It could be recalled that the Senate on Tuesday passed the bill for the establishment of a Police Pension Board, a move that will add extra burden on the federal government’s pension liabilities.

RELATED ARTICLES

FG SETS TO DEEPEN BILATERAL RELATIONS WITH TANZANIA

The Permanent Secretary Ministry of Defence, Dr. Ibrahim Abubakar kana, says,  Nigerian Government will continue to deepen military bilateral relations with the Tanzanian government. Dr...

NIGERIA CUSTOMS ENGAGES STAKEHOLDERS ON PORT DECONGESTATION, 48- HOUR CARGO CLEARANCE

The Comptroller-General of Customs, Adewale Adeniyi on Monday, 6 November 2023, in Lagos, convened a meeting with stakeholders to address the urgent need for...

INTER-AGENCY PARTNERSHIP: ACTING CUSTOMS CG RECEIVES PRESIDENTIAL AMNESTY PROGRAMME’S LEADERSHIP, ASSURES STRONG COLLABORATION

  In his continuous effort to enhance trade in Nigeria through the implementation of new policies that will consolidate the country's economy, the Acting Comptroller-General...

Most Popular

INSURANCE SECTOR: NAICOM, RMAFC HARPS ON INSURANCE RELEVANCE IN ECONOMY.

The Commissioner for Insurance/CEO, M Olusegun Ayo Omosehin, has canvassed for enlightenment of government institutions on the relevance of insurance to economic development of...

NIGERIA CUSTOMS SERVICE BOARD CONFIRMS APPOINTMENT OF 5 DCGs, 8 ACGs.

The Nigeria Customs Service Board (NCSB) has confirmed the appointment of five (5) Deputy Comptrollers-General (DCGs) and eight (8) Assistant Comptrollers-General (ACGs) of Customs...

UN SECURITY COUNCIL NEEDS DRASTIC REFORMS TO ACCOMMODATE NIGERIA IN G20 - AMB. TUGGAR Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar has called for...

ADVANCING OPPORTUNITIES FOR WOMEN WITH DISABILITIES.

NCWD DG/CEO and the SSA to the president on special needs and equal opportunities Hold Strategic Meeting on Advancing Opportunities for Women with Disabilities. In...

Recent Comments