All Posts in "Day: October 21, 2020"

#ENDSARS#: NECO moves October 22,23,24 to November

The National Examinations Council (NECO) has rescheduled its examinations scheduled for Oct. 22, 23 and 24 to November, owing to insecurity and curfew imposed by some states.
Mr Azeez Sani, Head, Information and Public Relations Division (NECO) said this in a statement made available to newsmen in Abuja on Wednesday.

Sani said that the affected papers were now scheduled for Nov. 17, 18 and 19.

”This is to inform the general public and especially candidates that the National Examinations Council (NECO) has been constrained by circumstances beyond its control, to reschedule the papers meant for Thursday, Oct. 22, Friday, Oct. 23 and Saturday, Oct. 24.
”The affected papers are now scheduled for 17th, 18th and 19th November 2020.

”The examination time table for these papers will be made available subsequently.

“These changes were due to the security challenges, which led to the imposition of curfew and closure of schools by some state governments in order to safeguard lives and properties,’’ he said.

Sani said that the development became difficult for the council to move examination materials across the country.

”The Council prays that the examinations will continue on Tuesday, Oct. 27, all things being equal, with the papers as originally scheduled in the examination time table,’’ he said

Patoma Admin by — October 21, 2020 in Education 0
PenCom applauds PFAs for ROI in eight months

Despite the disruptions caused by the COVID-19 pandemic, which affected most aspects of the Nigerian economy, Pension Fund Administrators (PFAs) in the country performed satisfactorily on Returin On Investment between January and August 2020.

According to the report from Pension Nigeria, no PFA had negative returns on investment (ROI) during the period under review, indicating that all PFAs for Fund I, II, III, and IV recorded positive returns.

This is quite impressive, given that the pandemic had impacted most aspects of the Nigerian economy negatively, causing a 1.95% (year-to-date) decline of the NSE’s All Share index, while the country’s Gross Domestic Product (GDP) contracted by 6.1% in the second quarter of 2020.

12 out of the 22 PFAs performed above the average ROI of 9.28%, for all the funds put together.

NLPC Pension Fund Administrators Limited topped the list (20.33%), followed by Investment One Pension Managers Limited (14.5%), Veritas Glanvills Pensions limited (12.02%), AXA Mansard Pensions (10%), OAK Pensions Limited (9.7%).

Others include Leadway Pensure PFA Limited (9.67%), Crusader Sterling Pensions Limited (9.65%), AIICO Pension Managers (9.61%), IEI-Anchor Pension Managers Limited (9.51%), Fidelity Pension Managers (9.46%), Stanbic IBTC Pension Managers (9.45%), and Radix Pension Fund Managers Limited (9.28%).

Meanwhile, 10 PFAs performed below the average ROI, with Premium Pensions Limited (4.96%) at the bottom of the list, followed by APT Pension Fund Managers (5.81%), First Guarantee Pensions Limited (6.46%), TrustFund Pensions Plc (6.61%), ARM Pension managers (7.0%).

Other Administrators that made the list includes, Nigeria University Pension Management Co. Limited (7.23%), Pension Alliance Limited (7.40%), FCMB Pensions Limited (7.60%), Sigma Pensions (8.86%), NPF Pensions Limited (8.95%).

Also, in the Fund I, Veritas Glanvills Pensions Limited topped the list in average return on investment on Fund I with 21.11%, followed by Stanbic IBTC Pension Managers 12.33%, Sigma Pensions Limited 11.95%, OAK Pensions Limited 11.59%, and IEI-Anchor Pension Managers 9.88%.

Fund II – NLPC Pension Fund Administrators Limited led the pack with an average return on investment of 24.32%, followed by IEI-Anchor Pension Managers Limited 11.59%, Crusader Sterling Pensions Limited 10.74%, Investment One Pension Managers Limited 10.65%, and Nigerian University Pensions Limited 10.25%

Fund III – NLPC Pension Fund Administrators Limited dominated the top 5 list with 24.84%, followed by Investment One Pension Managers Limited 17.58%, Radix Pension Fund Managers 14.78%, Fidelity Pension Managers Limited 12.45%, and AXA Mansard Pensions Limited 11.46%.

Fund IV – NLPC Pension fund Administrators Limited maintained the lead in the top 5 PFAs with 23.59%, followed by Investment One Pension Managers Limited with 15.28%, Fidelity Pension Managers Limited with 12.3%, NPF Pensions Limited with 10.98%, and Veritas Glanvills Pensions Limited with 9.74%.

Patoma Admin by — October 21, 2020 in Others 0