Stock QuotesEurobonds ($)
NIGERIAN EUROBONDS March 16  20215.625% US$300M JUN 2022-103.962/2.446%,  6.375% US$500M JUL 2023– 108.337/2.639%, 7.625% US$1.118BN NOV 2025– 114.581/4.159%,  6.500% US$1.5BN NOV 2027– 106.967/5.250, 7.143% US$1.25BN FEB 2030 – 105.897/6.270%, 8.747% US$1.0BN JAN 2031 – 115.122/6.629%,  7.875% $1.50BN Feb 2032 – 108.095/6.810%, 7.696% $1.25BN Feb 2038 – 103.337 /7.347%,  7.625% $1.50BN Nov 2047 – 102.298 /7.425%, 9.248% $750M Jan 2049 – 115.726/7.848%.
Business Finance Info & Updates

90% NPA pensioners decry non-increment benefits

The Pensioners’ Welfare Association of the Nigerian Ports Authority (NPA) have decried non-pension increment benefits and rights by the  NPA management over the years, as it been stipulated in the constitution.

Over 90 per cent of the NPA pensioners came together recently at their Presidential press briefing in Lagos, to appealed to the management of NPA to increase their pension benefits from current 3 per cent to 33 per cent general pensions increment approved by former President Goodluck Jonathan’s administration.

Speaking at the event, the association’s President Pastor Charles Binitie said that the law allows NPA to increase pensioners benefits every five years, adding that NPA management has failed to review and increase the pensions benefits.

According to him, as required by law, NPA management approached the National Salaries,  Income and Wages Commission in Abuja to review the fringe benefits of serving employees by about 400 per cent in 2018 while another review was carried out in 2017 and adjusted in 2018, all to exclusion of pensioners, who unilaterally given 3 per cent increment by NPA in 2016.

He added: “This 3 per cent cannot be compared to 33 per cent general pensions increment approved by former President Goodluck Jonathan’s administration, which was the last pensions review in the public service.

Read Also:  FG gives NCC 9-Day to deactivate 2.24m SIM cards

“NPA even claimed that it harmonised pensions in addition to the 3 per cent increment, an in-serving Assistance General Manager claimed that the harmonisation was due to the generosity and magnanimity of the Managing Director. Harmonisation is an instrument to bridge gap whenever there is disparity. It is not generosity.”

He lamented that the treatment meted to NPA pensioners is, to say the least, most unfair and unGodly. He said the question one also tempted to ask is what sin have the NPA pensioners committed that they  are being treated shabbbily  and unGodly by the management of NPA?

Leave a Reply

Your email address will not be published. Required fields are marked *

CAPTCHA ImageChange Image