Nigeria Pension Funds Ole, Onye Oshi, Barawo

Lights Out



I wrote the piece below in May, and quite unfortunate that the Government does not read and act on time.

Now as my people would say 'E don happen' A child that keeps his mother awake has chosen to murder sleep for that night too.

Now we are about to be catapulted back to the Dark age by PHCN Workers, because some gullible, penny pinching, insatiable, shifty eyed, Lazy, thieving and callous Pension Managers that felt the sweat deductions from these workers salaries for 25 or so years is their personal property.

Because the Government forgets easily that, the sins of our past would surely catch up with us.

Now we are at the cross road of the day of reckoning.

Would the Government prosecute and retrieve the stolen Pension funds from the friends of government who stole the money and pay the PHCN aggrieved staff that are about to lose their Jobs due to the intended privatisation of the Power sector, or stick to their method of enriching their friends by replacing the stolen monies with monies from our national treasury, and latter share the loot with their friends?

Why should the masses be the 'weeping child' every time these shameless thieves loot our treasuries and government stand aside and look?

Pension Pen Scam

The Definition of Pension from The Free Dictionary

pen·sion ¹  (pnshn)

n.

A sum of money paid regularly as a retirement benefit or by way of patronage

In a world of uncertainties, the human mind runs riot with ideas of how to be comfortable when he is old, and not capable of working to fend for himself, and someone somewhere with the intention of saving this monies for concerned individuals, by investing same for his own benefits while the monies is in his custody until time for collection, developed the Pension Scheme and it became a Global Employers Scheme for their Employees.

A little percentage of individual earning is then set aside for his old age, to jump start him in either a new business of his choice or the interregnum between his cold days before finding a new job that would sustain him further after retirement. 

An ingenious invention, a sensible gesture and plausible consideration for better life after retirement applauded all over the world. 

Money like they say: Is the root of all evil, true.

If you are the sole manager of your Pension its either of two things, Yes, you have a retirement fund you can fall back on, or you have none at all when you finally retire, because you either slap your hands from spending your pension with the visuals of the pains you'll experience after retirement or spend the monies before retirement and face the music in future.

That is why at times 'Out of sight is out of temptation'.

It becomes imperative to decide on who could manage your Pension out of your reach, and finally you found a suitable scheme managed by supposedly honest and men of integrity, and you subscribed to the scheme with the hope that your retirement is rest assured, and you went to sleep. Need you bother to know how your pension is doing? In my opinion, i feel you absolutely do.

The present charade ongoing in Nigeria is an eye opener, that once in a while you need to be notified on how robust your pension investment is doing, or else you would rather not be part of a scheme that hyenas are waiting to eat both your pension and the interest(Flesh and Bones).

Prior to the escalation of the present unfolding shameful attitudes of these heartless managers, some military retired personnel camped in front of the Ministry of Defence in Abuja, Nigeria for months without attention from the pension managers, most were sick and frail some died in the process, you can see their pains on their faces, yet the Pension Managers did not flinch.

 

Some Pensioners awaiting their faith.

I paused to think, did it ever cross their minds that most of these pensioners could be some Nigerians fathers, that toiled to train their kids, and, looking forward to their pension to relax and enjoy the rest of their days on mother earth.

But this dream was cut short by some greedy, heartless and evil monsters put in charge of managing the Pension Funds. Imagine 50million Workers contributing 5% of their Annual income to a Pension Fund, and do a simple calculation of a minimum subscription of 5% of (NGN18,000.00 x 12(Minimum Wage)) x 50,000,000 x 13years exclusive of interest on investment. Its mind blowing.

And these heartless managers stole well over NGN12billion  of the Pensioners monies without thinking of the sickening effect it would have on the Men who religiously contributed to the Scheme hoping their future is in safe and trusted hands.

Now that the faces of these perpetrators have been unveiled, the question is, would they be prosecuted as demanded by Nigeria law, or would they be protected by the other thieves in Nigeria Government? How would the government even with good intentions recover completely the stolen monies? In Nigeria everything is possible.

For the sake of the frail and Old Pensioners, the Servants in Government if they are truly there to serve their people, should ensure with dispatch that the monies stolen are returned to their owners and the culprits brought to Justice.

Otherwise, any participant that does contrary to the above, is cursed by the sweat of these workers that saved their sweats for their retirement,s for the rest of their lives.

They have just murdered SLEEP.