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PenCom Pushes States to Fully Implement Contributory Pension Scheme

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From left: Head of the Civil Service of the Federation, Didi Esther Walson-Jack and Director General of PenCom, Omolola Oloworaran, during the event. 


BY NKECHI NAECHE-ESEZOBOR
—National Pension Commission (PenCom) has intensified efforts to drive the nationwide implementation of the Contributory Pension Scheme (CPS) with the hosting of the maiden edition of its Bi-Annual Consultative Session for Heads of Service of states yet to fully adopt or implement the scheme.

The consultative session brought together key stakeholders to discuss strategies for strengthening pension reform implementation at the sub-national level and addressing challenges hindering full adoption across various states.

Speaking at the event, the Director General of PenCom, Omolola Oloworaran, stated that although 26 states have enacted pension reform laws, only seven states alongside the Federal Capital Territory (FCT) are currently fully implementing the Contributory Pension Scheme.

She emphasized the need for stronger commitment by state governments to ensure workers enjoy sustainable and secure retirement benefits under the CPS framework.

The event also featured the Head of the Civil Service of the Federation, Didi Esther Walson-Jack, as a special guest, underscoring the importance of collaboration between federal and state institutions in deepening pension reforms nationwide.

According to PenCom, the session served as a platform for meaningful engagement, knowledge sharing and collaboration among stakeholders, while also providing practical guidance and support to states yet to fully implement the scheme.

Discussions during the meeting focused on the benefits of pension reforms, operational challenges affecting implementation, and measures required to accelerate compliance at the state level.

The initiative forms part of PenCom’s broader commitment to promoting a sustainable pension system and expanding the reach of pension reforms across Nigeria.

The post PenCom Pushes States to Fully Implement Contributory Pension Scheme appeared first on Business Today NG.

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Celebrating Sunny Adeda: Alpha Choice Boss and Insurance Icon Hits 70th Milestone

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The sounds of celebrations and thanksgiving will rent the air; anniversary chants will serenade the atmosphere in celebration of a great and charming personality, Mr. Sunny Oberuomor Adeda, today August 12th in Lagos.

Sunny, as he is fondly called by close pals and colleagues is a man of amiable character, despite possessing an intimidating built and gait. Sunny is a man of integrity, mixes freely with everyone, even though he is a man of high societal status.

All roads will lead to the house of Sunny Adeda as he clocks 70 years on earth.

Sunny is a hard working man who has indeed paid his dues. In the corporate world, he is not shy to take up responsibilities. His hard working nature propelled him into the insurance industry, where he became a seasoned insurance executive with a distinguished 30 years career marked by progressive leadership and strategic vision.

He rose through the ranks in the insurance sector, hitting the managerial level, making his management capacity second to none.

As he rose through the ranks, he acquired people’s skills, technical and underwriting prowess, culminating into him being an expert in the corporate world. Despite his rise, he remained a man of accountability.

Sunny is a hands-on insurance professional, his years in the industry have seen him deeply involved in policy evaluation, policy implementation, marketing and strategic policy formulation, product designs and business executions while supervising various technical and marketing directorates.

He possesses a demonstrable record of effectively leading and mentoring high performing teams, consistently delivering results in areas such as Life Assurance, Aviation, Oil and Gas, as well as public sector insurance penetration.

His insurance experience spanned over 30 years and across key areas of risk management practice including underwriting, marketing and brokerage operations.

His Professional Journey

With a distinguished career spanning over three decades, Sunny brings with him a track record defined by technical depth, commercial acumen, and strategic foresight.

He is currently MD/CEO of Alpha Choice Insurance Brokers Limited.

He joined NICON Insurance as a Graduate trainee in October 1980 and worked in various technical departments.

He was appointed Executive Director (Technical) 20th October 1999 to July 2006. He oversaw the transformation of the company into one of Nigeria’s most respected risk management and insurance firms. However, he voluntarily retired from the Corporation at the age of 50 years.

Sunny has led start-ups, pioneered projects, and driven market expansion.

He was Deputy General Manager of NICON Insurance (Lagos Office); Assistant General Manager (Lagos Zonal Office); Assistant General Manager (Aviation); Senior Manager (Aviation); Assistant Manager (General Accident); as well as Assistant Manager (Life).

His governance experience also includes service on the board of NAL Merchant Bank plc, 2000/2001; NICON Hotels Ltd, 1999/2005; College of Insurance and Financial Management, 2008-2009; Aderesa Nigeria Limited (Tega Farms); Alpha Resa Hotels Limited.

He obtained a B.Sc (Hons) Biology, from the University of Lagos, Akoka, Yaba

His professional qualifications include Associateship of the Chartered Insurance Institute – London (ACII); Fellowship by Examination of the Chartered Insurance Institute London – FCII; Elected fellow of the Chartered Insurance Institute of Nigeria – FIIN.

He was the President, Chartered Insurance Institute of Nigeria 2009 – 2011; Elected a Council Member of the Chartered Insurance Institute of Nigeria (CIIN) – 1999; Chairman – Mandatory Continuing Professional Development  Committee (MCPD); Member – Fellowship Assessment Committee; Chairman – Accreditation Committee, Office Representative Committee; Pioneer Chairman College of Insurance and Management studies (Chairman) 2008; Member Nigerian Institute of management; Member institute of Directors (IOD).

A commitment to continuous learning is exemplified by his participation in executive development programs locally and internationally at institutions such as Upstream Energy Insurance Module 2011 at JLT Academy, London; Chief Executive & Directors Course, Management School, London -2005; Executive Management Development Course, South Africa –  April 2000; Life Insurance Course at the Swiss Insurance Training Centre, Zurich – 1988; Munich Reinsurance Course, Munich, Germany – 2001; Computer Appreciation Course; Budgeting and Budgetary Control; Financial Management; Human Resources Management; Action Centered Leadership; Total Quality Management; Chartered Insurance Institute of London Annual Conference; Chartered Insurance Institute of Nigeria – Seminars and Conferences.

He belongs to Ikoyi club 1938, Country club 1949 Ikeja, IBB international golf club Abuja, Fountain of Hope International, as well as ENI Club.

His hobbies are Table Tennis, Swimming, Reading and Music. He is married with four children and hails from Delta State.

The post Celebrating Sunny Adeda: Alpha Choice Boss and Insurance Icon Hits 70th Milestone appeared first on Business Today NG.

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Airport operations will continue amid aviation unions’ strike

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The Federal Airports Authority of Nigeria (FAAN) has assured passengers that airport operations will continue despite the ongoing industrial action by aviation unions.

FAAN, in a statement issued on Tuesday, said it was working with aviation agencies, airlines, security agencies and other stakeholders to minimise the impact of the industrial action and ensure that airport operations were not disrupted.

The authority said it was closely monitoring developments and remained committed to maintaining safe, secure and orderly operations at Nigeria’s airports.

The assurance comes after the industrial action disrupted flight operations earlier on Tuesday, with some airlines suspending or rescheduling services following restrictions on access to airport terminals in Lagos and Abuja.

Air Peace, Enugu Air, and United Nigeria Airlines announced operational disruptions, affecting some passengers with flights suspended or rescheduled.

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The action followed grievances by aviation unions over the alleged restriction of workers’ freedom to unionise and the alleged non-remittance of the five per cent Ticket Sales Charge (TSC) collected from passengers.

The unions include the National Union of Air Transport Employees, Air Transport Services Senior Staff Association of Nigeria, and the National Association of Aircraft Pilots and Engineers, with the Nigeria Labour Congress and the Trade Union Congress backing the action.

PREMIUM TIMES earlier reported that the Nigeria Civil Aviation Authority (NCAA) Director-General, Chris Najomo, urged the unions to suspend the industrial action pending the return of the Minister of Aviation and Aerospace Development, Festus Keyamo, who the regulator said was working to resolve the dispute.

The NCAA appealed to all parties to embrace dialogue and cooperation, expressing confidence that the matter would be resolved and that normal flight operations would be restored as soon as practicable. The regulator also assured passengers that flight safety had not been compromised and that it continued to discharge its statutory safety oversight responsibilities.

FAAN moves to minimise disruption

FAAN said it recognised the legitimate role of organised labour and supported efforts by Mr Keyamo and other stakeholders towards an amicable resolution of the dispute.

“In the interim, FAAN is working closely with the relevant aviation agencies, airlines, security agencies and other stakeholders to minimise the impact of the industrial action and ensure that airport operations are not disrupted,” the authority said.

The authority also said earlier operational challenges affecting the movement of some flights within the airside environment had been addressed through ongoing inter-agency coordination.

It said measures were being sustained to support the orderly continuation of flight operations.

“FAAN remains committed to ensuring that Nigeria’s airports remain safe, secure, functional and accessible to passengers and other airport users,” it said.

FAAN advised passengers to remain calm and maintain contact with their respective airlines for real-time information about their flights.

READ ALSO: Passengers stranded as airlines suspend, reschedule flights amid aviation unions’ strike

The authority said it remained confident that ongoing engagements under the minister’s leadership would lead to a speedy and mutually acceptable resolution of the dispute.

It also appreciated passengers for their understanding and patience amid the disruption.

The latest assurance comes as airlines continue to adjust their operations in response to the industrial action, with passengers advised to confirm their flight status with their respective airlines before travelling to the airport.

FAAN said its priority remained maintaining safe, secure and functional airports while efforts to resolve the dispute between the unions, airlines and government continue.


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