All Posts in "Month: April 2023"

PADIN promises to help people with disability, shares over 360 crutches

By Favour Nnabugwu
A nongovernmental organization, Poverty and Disability Initiative in Nigeria, (PADIN) has decried the increased rate of poverty among people disability in the country.
PADIN pained with the poverty rate of those living with disability promised to contribute their quota in filling the gap’
The NGO gave out over 360 crutches to persons living with disability at Karumajigi on Saturday
This much was said by the president and founder of the NGO, Olatunji Oladaya Lincoln while speaking with our correspondent on Saturday during the occasion of the distribution of clutches to people living with disability at the Disable colony, Karumajigi, a suburb in the Federal Capital Territory.
He maintained that there has been a lot of talk about taking care of the disabled once in Nigeria but nothing much has been done by the Government to alleviate the suffering of these persons, which he said prompted their Organization in collaboration with their partner, NCGI to deliver clutches to them, with the promise to make more deliveries in the nearest future.
He explained further, “I was born as a person with a disability, and if you look at over thirty million Nigerians that are persons with disabilities, we need people to fill the gap for them. The rate of poverty increases within the range of these persons within the disabled community is very high and alarming. Thank God I had the privilege to have gone to school.
And as the person with a disability that I am, I think I have to represent the thirty million people, I have to fill the gap too which is why you saw me here doing this for my people. They are my people,”
Also speaking at the event, Mr. Taiwo Ibukun Oluwa Okpeyo who is one of the volunteers for NCGI Nigeria, said, “Today we are partnering with PADIN to distribute clutches for disabled people here. Our main aim and objective is to hel people living with disability by giving them clutches, walking aides, and wheelchairs, and again we cater for elderly persons in our society. Most people have one form of deformity or the other.
Meanwhile, the project Director of PADIN, Christina Obinna Okafor explained why the choice of Karumajigi for the delivery of the clutches,
“We discovered that this Karumajigi is actually the disability colony in Abuja. This is where you have the majority of people living with a disability residing. So rather than going about seeking disabled people on the street we felt it is better we can come here”
‘When you talk to the chief there is actually somebody who is the leader of the people living with disability here which makes it easier to reach out to all manner of people living with disability, because they have them on record. Like you have seen they actually have the list, they have it typed out and it made our work easier.
She explained further that the joy they see on the faces of the recipients is what motivates them to want to do more, “As you saw on the NCJI T-shirt, we are sharing love, we are sharing passion, and we are sharing joy. It’s unbelievable the relief you see on the faces of these people.
“As we tagged it UNBURDEN, we are actually lifting off the burden of having to look for proteases for these people, because I don’t know when you look at them to get proteases like the clutches, or the wheelchairs it’s quite expensive.  And so when you have these things and you can give it out to them you are actually lifting lots of loads.
The Country Director of PADIN in Nigeria, Paul Mubuchi Ogbonna on his own part stressed that the job of trying to alleviate the suffering of the people living with a disability does not end at shearing clutches, “As a matter of fact we are going to be bringing a lot of things on the table like entrepreneurship. We are going to bring the such thing to the table to make them understand that they can be more useful to themselves in spite of their disability.
“We plan to move a lot of them out off the street and empower them, giving them entrepreneurship spirit. And it all starts with teaching. Once you are able to impact knowledge and education into someone you have helped the person.
.
Patoma Admin by — April 10, 2023 in Metro 0
PenCom ranks FCT, Delta, Kaduna, 7 others as top performing States in CPS

By Favour Nnabugwu
he National Pension Commission (PenCom) has ranked FCT, Delta, Kaduna and seven others as the top performing  states in the implementation of the Contributory Pension Scheme (CPS)
The other States, according to PenCom, are Edo, Anambra, Benue, Ekiti and Lagos, Ondo and Osun as at December 2022.
PenCom in a report, however applauded Edo State for the level it has reached in
the CPS.
The pension regulatory body said the state government enacted the Edo State Contributory Pension Scheme Law in 2010 and that implementation of the CPS commenced in February 2017.
According to PenCom, “The State Government established the Edo State Pension Bureau to oversee the implementation of the CPS in Edo State. It has registered the State’s employees with Pension Fund Administrators (PFAs).
However, three self-funded agencies and 18 LGCs are yet to commence registration of their employees.
“The State government is remitting 10 per cent employer and 8 per cent employee pension contributions and has conducted an actuarial valuation to determine the employee’s accrued pension rights. It has a valid Group Life Insurance Policy
The commission added that the State has opened a Retirement Benefits Bond Redemptions Fundf Account with a PFA and is funding the Accrued Pension Rights of the State public service employees
Patoma Admin by — April 8, 2023 in Pension 0
Naicom commerces FRS 17 in June 2023

By Favour Nnabugwu

 

 

The National Insurance Commission, Naicom has did that the regulatory body will begin to ask operator to file report in the Financial Reporting Standard 17 (FIRS 17) from June this year.

FRS 17 establishes the principles for the recognition, measurement, presentation and disclosure of insurance contracts within the scope of the standard.

The objective of FRS 17 is to ensure that an entity provides relevant information that faithfully represents those contracts.

The Insurers steering committee during a meeting on Thursday revealed that the FRS 17 will take effect from June 2023.

Making this know is the Head Corporate Communication and Market Development who is part of the committee who said that Naicom is helping companies to make sure they comply and for the meanwhile time, they will submit the FRS 14 before June 2023.

Salami at this point said,”Operators have been given up till June this year to submit their accounts on FRS 17″.

The commission, said in its efforts to get insurance firms ready for the new finance reporting model, it had set up sub-working groups to facilitate the migration.

The Commissioner for Insurance, Mr Olorundare Sunday Thomas, urged board members of each insurance firm to get prepared for the IFRS 17 implementation pointing out that the deadline for migration was already at hand.

“I want to urge you also to follow up on the implementation of International Financial Reporting Standards. IFRS 17 in your companies.

You are therefore required to ensure that your entities are in full compliance and ready for the dateline”, the commissioner charged

He also urged the directors to take the issue of development of insurance in the country serious directing them to work closely with their management because a lot was expected from them at the top level.

“The Commission is working assiduously to open up the market particularly the retail end, conducting engagements with various agencies and state governments on the need to boost insurance culture across the country”.

However, the supply side which is the insurance companies must also be proactive with follow-ups in these places. If the industry is desirous of having significant impact on the nation’s GDP, it therefore must take retail business seriously.

This also must be supported with massive awareness campaign about insurance products across the geo-political zones taking into consideration peculiarity of each of the regions, “Thomas said.

Patoma Admin by — April 8, 2023 in Insurance 0
PenCom dissociates self from ASSOPEP

By Favour Nnabugwu
 

The National Pension Commission (PenCom) has denied knowledge of the illicit activities of Association of Pension Desk Practitioners of Nigeria (ASSOPEP).

PenCom in a statement said it has particularly noted ASSOPEP’s claims of resolving pension issues and assisting retirees in securing their retirement benefits.

The general public is kindly requested to note that the claims by ASSOPEP are entirely false as the Association has no affiliation with the pension industry nor authorisation of any kind whatsoever from PenCom, it submitted.

PenCom noted that moreover, Licensed Pension Fund Operators (LPFOs), who are statutorily mandated to undertake the processing and payment of retirement benefits, are not associated with ASSOPEP in any way.

PenCom, therefore, urged the general public to be cautious of any promise or claim made by ASSOPEP regarding pension and retirement benefits or any other matter relating to the pension industry in Nigeria.

The Commission strongly advised workers, retirees, pension desk officers and everyone approached by the Association with claims of consulting with their Pension Fund Administrators (PFAs) and PenCom for guidance and assistance in respect of their retirement benefits to exercise caution as any interaction with the Association is at the individual’s own risk.

PenCom noted that it has, in the meantime reported the activities of ASSOPEP to law enforcement agencies for appropriate action.

The activity of the Association of Pension Desk Practitioners of Nigeria, started on November 8, 2016 with its annual conference held in Abuja with theme The New Pension Act 2014- The Implementation Hurdles for Nigerian Employees. Since then the ASSOPEP holds its annual conference in Abuja in November every year.

Patoma Admin by — April 8, 2023 in Pension 0
DG NiMet, Mansur Bako Matazu now a governing board member of NOSDRA

By Favour Nnabugwu
 
The Director General of the Nigerian Meteorological Agency, ((NiMet), Prof Mansur Bako Matazu has been appointed as member of the Governing Board of National Oil Spill Detection And Response Agency (NOSDRA).
The approval was contained in a letter  to the Honourable Minister of Environment, signed on behalf of the Honourable Minister of Aviation by the Director ( Human Resource Management) of the Ministry of Aviation.
” I am directed to refer to your letter No FMENV/PRS/1782/1/18 dated 29th March, 2023 on the above subject and convey the approval of the Honourable Minister of Aviation for the Director General of Nigerian Meteorological Agency (NiMet), Prof. Mansur Bako Matazu to serve on the Governing Board of the National Oil Spill Detection And Response Agency (NOSDRA).” The letter reads.
By this appointment, Prof. Matazu is expected to bring his wealth of knowledge and experience to bear.
Patoma Admin by — April 8, 2023 in Aviation 0
UN-OCHA collaborates with NiMeT on humanitarian

CAPTION:
L-Director-General of the the Nigerian Meteorological Agency (NiMet), Prof Mansur Bako Matazu and Head of Office for Nigeria of the United Nations Office for the Coordination of Humanitarian Affairs (UN-OCHA), Trond Jensen
By Favour Nnabugwu
The United Nations Office for the Coordination of Humanitarian Affairs (UN-OCHA) has expressed interest to work with the Nigerian Meteorological Agency (NiMet).
This was made known when a team from the UN body paid a courtesy visit to the NiMet headquarters yesterday.
Speaking on the purpose of their visit the leader of the team and Head of Office for Nigeria, Trond Jensen said he was impressed by the analysis and the work that NiMet is doing that the purpose of the visit is to continue it’s advocacy efforts to enhance the urgency, efficiency, and quality of humanitarian response in the north east states of Borno, Adamawa and Yobe.
“One of the things we want to do this year together with the government Institutions that we are working with is to be better prepared for the rainy season this year”.
He noted that last year was a national disaster in terms of the extent and impact of the flooding, also in terms of the damage to infrastructure.
Mr Jensen emphasized that their desire is to work more closely with NiMet.
” We want to work more closely with you in terms of understanding what might happen this year, compared to last year and how we can work better, working with you in terms of preparedness, in terms of anticipatory action where your input is actually critical for us to understand how the inclement weather would impact on the humanitarian work”. He said.
Responding the Director General of NiMet, Prof. Mansur Bako Matazu observed that both organisations have a common goal and the  convergence of providing early warning for all.
He explained that NiMet has achieved certain level of leadership role in the continent based on the provision of climate services from co-generation to effective dissemination and getting feedbacks within the value chain.
Prof. Matazu revealed further that based on this,  NiMet provides daily weather forecast to Liberia, and Sierra Leone as part of the World Meteorological Organisation VCP programme which has been on for almost seven years to date.
He disclosed that ” We are also implementing the WMO SOFF project, we are peer reviewing Liberia and Burkina Faso, Liberia we are doing that alone but with Burkina Faso we are peering with Spanish Met Service. We also want to apply for the second stage to peer review one or two other African states”. He said.
Prof. Matazu revealed that by doing some of these projects NiMet has gained experience to be able to do some of its own national mandate while partnering with some Ministries , Departments and Agencies.
Prof. Matazu said  NiMet is flexible and willing to work with the UN body and assured that ” if we get details of your target location and elements of interest, we can come up with some products specifically for your usage and we can get it relayed to you electronically or we can create a segment in our App, NiMet weather App that can be downloaded from the playstore.
Patoma Admin by — April 8, 2023 in Aviation 0
FG declares Friday 7th, Monday 10th Easter Holidays

By Favour Nnabugwu

 

 

 

The Federal Government has declared Friday,  7th and Monday, 10th April 2023 tas holidays for this year’s Eastertide.

Permanent Secretary in the Ministry of Interior, Dr Shuaib Belgore who disclosed this in a statement on Wednesday said the Minister of interior, Ogbeni Rauf Aregbesola, made the declaration in Abuja.

The statement urged “Christians to emulate the virtues of sacrifice, togetherness, forgiveness, kindness, love, peace and patience which were attributes and practices of Jesus Christ, as exemplified by His ministry on the earth”.

Aregbesola called on Christians and all Nigerians to use the occasion of this year’s Easter celebration to pray for an end to the security challenges in parts of the country.

He said; “Security is everybody’s business, I therefore urge Nigerians and foreigners resident in our country to display a high sense of citizenships and public spiritedness by supporting the efforts of all security agencies in bringing peace and security of lives and property of the citizenry”.

The minister assured that the Federal Government is doing all that is necessary to ensure a peaceful transition of government following the peaceful conduct of elections.

While wishing Christians at home and in the Diaspora a happy and peaceful Easter celebration, he also enjoined them to love their neighbours through acts of kindness and generosity of spirit, with the well to do sharing their substance with the less privileged around them.

Aregbesola added that the nation is persistently on the path to greatness and urges all to positively deploy their creative energy for the full realization of the coming prosperity. “There is surely light at the end of the tunnel” he assured

Patoma Admin by — April 5, 2023 in News 0
Global reinsurers capital decline by 15% in 2022

By Favour Nnabugwu
Global reinsurers capital has declined by 15 percent, an equivalent of $100 billion, to $575 billion as at the end of December 2022, due to substantial unrealistic losses on investment portfolios.
Most reinsurers reported significant premium growth in 2022 on the back of rate increases, robust demand and foreign exchange movements, according Aon
Underwriting performance was again impacted by above-average insured losses from natural catastrophes.
The dominant event was of course Hurricane Ian, which had an estimated cost of $52.5 billion as per Aon’s Impact Forecasting.
Still, most reinsurers posted positive results, which Aon suggests reflects the benefits of the shift in pricing and coverage seen in recent years. The net combined ratio across Aon’s Reinsurance Aggregate (the ARA) was 96.2%.
However, the firm states that capital markets were volatile in 2022, with uncertainty associated with Russia’s invasion of Ukraine weighing on sentiment and policymakers’ efforts to bring inflation down from 40-year highs, via sharp hikes in interest rates, prompting fears of recession.
Aon writes, “Ordinary investment yields stabilized, but total returns were heavily impacted by declines in asset values, driven by rising bond yields, widening credit spreads and declining equity markets.
“Consequently, it was a poor year for reinsurance sector earnings overall. The ARA posted a return on equity of 5.2% based on reported net income, which was well below the cost of equity.”
The firm continues, “However, this outcome is misleading as it only includes a portion of the mark-to-market losses seen in 2022. Based on total comprehensive income, the return on equity was -14.7%.
“Over the six years from 2017 to 2022, the ARA reported an average net combined ratio of 100.3% and an average return on equity of 5.9%.”
Aon explains that resultant pressure from investors and rating agencies, is one of the driving forces behind the hard market seen in recent property reinsurance renewals.
Further, valuation metrics have improved post-Hurricane Ian, as investors have reassessed the sector’s future earnings prospects, including the benefit of higher interest rates on investment returns.
The decline in asset values drove reported equity levels lower across the industry in 2022, with some of the world’s largest insurance and reinsurance groups showing the most significant effects.
Across the ARA, total equity fell by $41 billion, driven by $48 billion of unrealized losses.
“Management teams pointed to mismatches in the major accounting regimes, which require mark-to-market losses to be recognized immediately on the asset side, but prevent discounting to reflect the benefit of higher interest rates on the liability side,” Aon writes.
The firm continues, “Despite the reductions in reported equity, reinsurer capital adequacy generally remains strong under risk-based regulatory and rating agency capital models, which take a more economic view of the current situation.
“That said, sensitivity to major losses has increased and debt leverage tolerances are being tested in some cases.
“Furthermore, while it is recognized that bonds are generally held to maturity and that their value will recover as that date approaches (typically over 2-3 years), it may become necessary for reinsurers to sell them to raise liquidity in the wake of an extreme event, thereby crystallizing the loss.”
Patoma Admin by — April 5, 2023 in Insurance 0
NIPSS, NiMET tightens knot on research

By Favour Nnabugwu

 

 

The National Institute for Policy and Strategic Studies (NIPSS) and the Nigerian Meteorological Agency (NiMet)  have tightened their not on research.

This was made known by the team leader of the Senior Executive Course 45 of the institute, Dr. Emmanuel Sambo Mamman when they visited NiMet headquarters yesterday.

Dr. Emmanuel Sambo Mamman who doubles as the Institute’s librarian, highlighted the functions of the NIPSS and it’s activities, describing the institute as the centre for research and dialogue for academics and policy makers also added that participants are drawn from the public and private sectors of Nigeria.and converge annually in order to solve problems of Nigerian society.

Dr. Mamman revealed that the Senior Executive Course programme is the flagship programme of the institute and runs for ten months. He explained that the programme is driven by a theme given by the President of the Federal Republic of Nigeria every year and the theme for this year is Industrialization, Climate Change and Energy Security in Nigeria with emphasis on Issues, Challenges and Prospects.

On their purpose for the visit
“We are here because we think your organisation is strategic to the theme for the set of 2023”.

He said the participants are expected to conduct a research and their reason for coming is to gather information for the research after which the participants will produce a final report which would be presented to the President.

In his remarks, the Director General of NiMet, Prof. Mansur Bako Matazu described NiMet as an extension of the University because “Our main duty is to collect, collate and produce products and services in all socio economic sectors of Nigeria that are climate induced or influenced”.

He added that almost all the socio economic sectors are climate induced or influenced and this shows how relevant NiMet services are to the existence of this country. Adding that the agency has data dating as far back as 100 years.

Explaining further Prof. Matazu cited how the intervention of NiMet saved CBN about N120 billion because they adhered to NiMet’s weather advisory.

Part of the visit include presentations by Prof Matazu and by the Director Research and Training in NiMet, Prof. Effiom Essien Oku.  The participants were later taken on a tour of NiMet facility.

Patoma Admin by — April 4, 2023 in Aviation 0
Monthly focus for April, 2023 by Pastor Favour Onoja

MONTHLY FOCUS FOR APRIL, 2023.

By Pastor Favour Onoja

 

“And the LORD visited Sarah as He had said, and he LORD did unto Sarah as He had spoken.

For Sarah conceived, and bare Abraham a son in his old age, at the set time of which God had spoken.

And Abraham called the name of his son that was born unto him, whom Sarah bare to him, Isaac.

And Abraham circumcised his son Isaac being eight days old, as God had commanded him.

And Abraham was an hundred years old, when his son Isaac was born unto him.

And Sarah said, God hath made me to laugh, so that all that hear will laugh with me (Genesis 21:1-6)

Welcome to the Month of April, 2023. Our Focus for the Month is “GOD’S VISITATION”

His visitation upon your lives this Month shall handle, tackle and terminate every form of darkness, voidness, delay and emptiness. It shall rather bring unto your lives, comeliness, glamour, order, light, honour and glory, in Jesus Name.

WHAT IS GOD’S VISITATION?

His visitation is the termination of enemies verdict and captivity in one’s life. It is the termination of affliction, oppression, bondages and delays.  Also, God’s visitation is the fulfillment of prophesies and His spoken Words over our lives and destiny.

Anywhere God shows up, He leaves a deposit, a train behind. God speaking in Isaiah 6:1 says “His train filled the temple”. Nakedness and helplessness are the products of His visitation. There are also landmarks, evidences and proofs.

Our God can visit individuals, families, nations, institutions and organizations.

Azuza and Wales revivals in the United States of America and United Kingdom over a century ago, were characterized by God’s visitation and the impacts of those revivals are still speaking till today and till eternity.

Another example of God’s visitation can be seen in the lives of the founder of the Redeemed Christian Church of God and Pastor E. Adeboye when they visited Tulsa in the United States of America for a  Rhema Camp Meeting, in 1979.  Whist they were praying in one of the Five Star Hotels where they lodged, the foundations of the Hotel shooked, as a result of the impact of their prayers. The structural foundation of that hotel is still affected till today because of God’s visitation.

TRIGGERS OF GOD’S VISITATION:

1. HUNGER FOR GOD:  This is a major prerequisite or criteria for God’s visitation (Philippians 3:10);

2. DESPERATION: (1Samuel 1:9-17; Genesis 30:1-2);

3. LOVE FOR GOD: David said I love thy law (Psalm 119:97, 113, 127, 163, 165, 167). He said early will I seek thee. When this love is in your heart, you don’t hoard from God. The reason people hoard from God is because they don’t love God. Solomon gave a thousand burnt offerings as a token of his love for God (1Kings 3:4; 1Chronicles 29:21; 2Chronicles 1:6);

4. VISION/DREAMS:  If you can have a solid vision, you have secured God’s visitation (Genesis 11:1-7);

5. UNITY: Unity is also another major trigger that guarantees God’s visitation (2Chronicles 5:11-14);

6. ORDER: Order attracts the fire of God upon our altars (1Kings 18:33-39). Uzzah died because of lack of Order (1Chronicles 13:11; 15:13). As foolish as Ahithophel was in his counsel, he knew the importance of Order. He put his house in order before he died (2Samuel 17:23);

7. FAITHFULNESS: If God can find a faithful man anywhere, He will show up. He is in search of faithful men. Faithful men are lacking in our generation (Isaiah 6:8; Psalm 12:1);

8. THE FEAR OF GOD:  The fear of God is also a major factor that facilitates and fast tracks God’s visitation (Job 1:1; Acts 10:1-2; Genesis 22:12; 42:18); and finally,

9. PRAYERS: God’s visitation can be secured through prayers (1Chronicles 4:9-10; James 5:17; 1Kings 17:1).

CHANNELS OF GOD’S VISITATION:

1. God Himself (Genesis 12: 1-8; 26:1-6);

2. Angels (Exodus 3:1-3; Genesis 18:1-12; Luke 1:5-19, 26-37);

3. Human Agents (Prophets/Pastors (Hosea 12:13);

4. The Word of God (John 1:1-5; Genesis 26:1-6);

5. Visions and Revelations (Acts 9:3-6, 10-16);

6. Service in the House of God (Luke 1:8-17);

7. Sacrifice (Genesis 8:20-22; 2Kings 3:26-27; Acts 10:1-2)

WHAT HAPPENS WHEN GOD VISIT?

1. He reveals Himself, His almightiness, His character and attributes (Exodus 6:1-3; Isaiah 6:1-7);

2. Your nakedness is exposed. You are purged, purified, sanctified and your iniquity is taken away (Isaiah 6:7);

3. The willingness to yield to the call is confirmed (Isaiah 6:8; Psalm 110:3);

4. It’s a season characterized with the fulfillment of prophesies (Matthew 21:1-11; 8:16-17);

5. He establishes His covenant (Exodus 6:4; Psalm 74:20);

6. He causes you to laugh, dance and sing a new song (Genesis 21:6; Psalm 30:11; Exodus 15:1-21);

7. He gives you gift, visions and instructions (Deuteronomy 32:10; Genesis 26:2);

8. He releases and infuses strength into you and every form of lethargy and indefatigability dies (1Kings 19:1-8);

9. He terminates delay (Ezekiel 12:21-28);

10. Mysteries are revealed and dissolved (Revelation 5:1-5);

11. Prison doors are opened. The foundations of your calamity/affliction are visited and uttered (Acts 16:25-26);

12. He wipes away tears from the faces of people and the covering cast upon the face of the earth is removed (Luke 7:11-17; Revelation 5:5; Isaiah 25:7);

13. Questions and puzzles of our lives are answered (Luke 1:34-35);

14. The book of remembrance are opened (Esther 6:1-11);

15. Favour and honor becomes the order of events in our lives (Genesis 30:22-24; 2Samuel 9:1-13; 1Chronicles 26:10);

16. He Anoints you afresh (Psalm 92:10)

PROPHESIES:

–  In this Fourth Month of the year, I decree and declare that God shall instruct you, give you fresh direction and a new beginning in Jesus Name;

–  I decree and declare that unusual strength shall be infused into you to enable you accomplish all that God hath placed on your inside;

–  I decree and declare that by His visitation upon your life, you are coming into prominence in Jesus Name.

FAVOUR ABU ONOJA

l: +234(0)8055842594 (WhatsApp)

+234(0)7034893375

E-mail: onojaaf@yahoo.com

Patoma Admin by — April 4, 2023 in Religion 0