The initiative, described as a major welfare milestone, is aimed at providing critical medical support for vulnerable retirees and strengthening the social safety net for senior citizens across Nigeria.

The Director-General of PenCom, Ms. Omolola Oloworaran, made this known during a press briefing held after the conclusion of the 2nd Pension Industry Leadership Council Session in Lagos.

She said the commission has concluded all necessary preparations to ensure that the healthcare needs of vulnerable retirees are given priority.

She disclosed that the payment of insurance premiums for the coverage is expected to be completed within the week, representing a major milestone in the Commission’s ongoing efforts to improve the welfare and quality of life of senior citizens.

Ms. Oloworaran emphasized that creating a support system for retirees who may face difficulties meeting medical expenses during retirement remains a key component of the Commission’s strategic focus.

While premium payments are set to commence immediately to activate coverage, she further stated that a formal launch of the initiative will take place in the near future.

According to her, this launch will serve to create greater awareness among the public and relevant stakeholders on the full scope and benefits of the scheme.

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Speaking at an industry gathering where key stakeholders reviewed recent developments and outlined strategic priorities for the sector, the Director-General, Ms. Omolola Oloworaran, said the inauguration of the Pension Industry Leadership Council represents a pivotal shift toward enhanced coordination, innovation, and measurable impact within the pension ecosystem.

She explained that the council is structured as a standing multi-stakeholder advisory platform aimed at harmonising industry perspectives, promoting strategic engagement, and aligning pension sector growth with broader national development goals.

According to Oloworaran, the industry is entering a new phase characterised by stronger leadership and collaboration, with pension funds expected to play a more active role in driving economic growth by leveraging one of the country’s largest pools of long-term capital.

To operationalise its mandate, the council has established several specialised committees, including Investment and Financial Markets, Innovation, Risk and Sustainability, Policy and Strategy, Stakeholder Engagement, as well as Governance and Ethics, each tasked with advancing reforms and improving market efficiency.

She noted that the Investment and Financial Markets Committee will prioritise addressing liquidity challenges, expanding investment opportunities beyond conventional instruments, and developing alternative asset classes to enhance returns for contributors.

A key focus area, she added, is the mobilisation of pension assets for infrastructure financing through the proposed Nigerian Pension Industry Investment Consortium. The initiative is designed to channel funds into viable national projects while ensuring robust risk management and sustainable returns.

Oloworaran emphasised that increased investment in infrastructure would help close critical gaps in the economy, stimulate job creation, improve productivity, and ultimately deliver stronger long-term value for pension contributors.

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In a statement issued on Monday, the Executive Chairman of LIRS, Dr. Ayodele Subair, explained that the statutory deadline for filing of individual annual tax returns is March 31 every year.

He noted that the extension is intended to provide individuals with additional time to complete and submit accurate tax returns.

Dr. Subair stated that individuals must give priority to the timely filing of their annual income tax returns, noting that compliance should be embedded as a routine personal practice.

He also reiterated that electronic filing through the LIRS eTax platform remains the only approved method for submitting annual returns, as manual filings have been completely phased out. Individuals are therefore required to file their returns exclusively through the LIRS eTax portal: https://etax.lirs.net.

Describing the platform as secure, user-friendly, and accessible 24/7, Dr. Subair advised individuals to ensure that their TaxID (Tax Identification Number) is correctly captured in their submissions.

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The feat was a atement by the Sahara Group on Monday, as the company said it welcomed the development.

It confirms media reports on the exportation of a new light sweet crude called Cawthorne, this March, under the Bayo Ojulari‑led NNPC.

“Over the weekend, the first shipment of 950,000 barrels from FSO Cawthorne, Nigeria’s newest oil terminal, was initiated following its licensing and gazetting by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)”, the statement read in part.

FSO Cawthorne serves as a critical offshore production support asset, providing storage and offtake capabilities for crude produced from OML 18 and nearby producing assets.

Reacting to the development, Sahara Group, a global energy and infrastructure conglomerate, reiterated the strategic role of FSO Cawthorne in strengthening Nigeria’s energy security through its reliable production, storage, and evacuation infrastructure.

Sahara Group also recognised the advanced technologies deployed on FSO Cawthorne, noting that the facility incorporates cutting‑edge systems supported by artificial intelligence‑enabled monitoring and robust QHSE frameworks, enhancing operational efficiency, asset integrity, safety performance, and environmental stewardship.

Sahara commended NNPC for its leadership of Oil Mining Lease (OML) 18 and surrounding assets in the eastern Niger Delta, where Sahara Group is a joint operator and joint venture partner, noting that the company’s collaborative approach continues to drive continuous improvement and value delivery across Nigeria’s upstream sector.

Dr. Tosin Etomi, Head, Commercial and Planning at Asharami Energy (a Sahara Group Upstream company), said the crude lifting from FSO Cawthorne represents a defining moment for the asset, the OML 18 partnership, and the wider oil and gas sector.

“The successful commencement of crude lifting from FSO Cawthorne is a significant milestone for the OML 18 partnership and a strong demonstration of what can be achieved through shared vision, technical discipline and committed collaboration,” Etomi said.

Etomi noted that the milestone aligns with Sahara Group’s broader upstream strategy, which is focused on building a resilient, scalable, and responsible production portfolio anchored on strong partnerships, asset optimisation, and long‑term value creation.

“The transition of FSO Cawthorne into active export is consistent with our upstream growth strategy, prioritising operational excellence, indigenous participation and infrastructure capable of sustainably supporting Nigeria’s production ambitions,” he said.

He noted that Sahara Group’s upstream portfolio includes a growing oilfield services division, which is redefining innovation, efficiency, and sustainability in the sector.

“Our expanding oilfield services capabilities are integral to our upstream vision, enabling smarter operations, improved efficiencies, and responsible resource development,” Etomi said.

He added: “Sustainable social impact interventions and community participation have been key drivers of our upstream success, and we remain committed to aligning our operations with the highest global environmental, social, and governance standards.”

Etomi also commended host communities and key regulatory and operational institutions, including the NUPRC, the Nigerian Ports Authority (NPA), the Nigeria Customs Service, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), for their support in ensuring seamless operations.

A spokesperson of the NNPC told Reuters last month that the Company was expected to strengthen the country’s position within the Organisation of the Petroleum Exporting Countries as it seeks a higher production target amid improving output levels.

According to Reuters, the launch of the new grade is part of Nigeria’s broader push to lift production, which has been constrained for years by crude oil theft, pipeline vandalism, and security challenges in the Niger Delta.

Cawthorne crude, which has an API gravity of 36.4, is similar in quality to Nigeria’s flagship Bonny Light, a grade widely valued by refiners for its high yields of gasoline and diesel.

The introduction of the grade could increase Nigeria’s crude and condensate supply from about 1.65 million barrels per day to roughly 1.7 million barrels per day for the rest of the year, depending on operational stability and market demand.

Source CHANNELS TELEVISION

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In his resignation letter, Tuggar commended the government’s “4D Foreign Policy Strategy” and acknowledged the support of ministry staff and the diplomatic community during his tenure.

In his resignation letter, he thanked President Bola Tinubu for the opportunity to serve and praised the administration’s “4D Foreign Policy Strategy.” He also expressed appreciation to the ministry’s staff and the diplomatic community for their support during his tenure.

His leadership focused on people-centred diplomacy, diaspora engagement, and strengthening bilateral and regional ties, including security cooperation and economic diplomacy to boost foreign investment.

Tuggar submitted his resignation ahead of the March 31 deadline for political appointees.

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In addition, the President nominated seven individuals to fill vacant commissioner positions at the National Population Commission, pending confirmation by the National Assembly.

These appointments reflect the administration’s commitment to strengthening governance and key federal institutions.

Ida holds an MSc in Banking & Finance from the University of Ibadan (1983) and an LLB from the University of Abuja (2003). Before being elected to the Senate in 2017 to represent Katsina Central, he served as the Commissioner of Finance for Katsina State and as the Permanent Secretary of the Federal Civil Service.

The seven people nominated as Federal Commissioners to represent their respective states in the National Population Commission are: 

1. Kolawole Oladipupo Alabi  – Ekiti State

2. Nasiru Mu’azu  – Zamfara State

3. Usman Abubakar Tuggar  – Bauchi State

4. Dr Isaka Alada Yahaya            – Kwara State

5. Prof. Sadiq Isah Radda  – Katsina State

6. Suleiman Umar  – Jigawa State  and

7. Hon. Chiso Abdullahi Dattijo  – Sokoto State.

The appointments, which complement other Federal Commissioners already sworn in, are subject to confirmation by the National Assembly:

The President also appointed Dr Yusuf Mohammed of Kano State as Chairman of the Federal Polytechnic, Kaltungo.

President Tinubu confirmed the appointment of Bala Mohammed Bello as his Special Adviser on Political Economy.

Bello, from Taraba State, holds a Bachelor’s Degree in Accounting and an MBA from Ahmadu Bello University, Zaria. Before this appointment, he was a Deputy Governor at the Central Bank of Nigeria (CBN). He also served as Executive Director (Corporate Services) at the Nigerian Export-Import Bank from 2017 to 2022. 

President Tinubu strongly believes in the capacities of the appointees to put in their best to further the administration’s commitment to a better lease of life for Nigerians.

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The arrest of Kolawole, 37, was sequel to a petition submitted to the Commission by Predictus Remit Limited, a subsidiary of Fairmoney Microfinance Bank.

The petitioner alleged that Kolawole, alongside the company directors – Duru Ogadima, Talukder Muhammed Khalidur Rahman (both currently at large) and their firm, DKK Partners Limited, fraudulently obtained the said sum under the pretext of facilitating a foreign exchange transaction.

The funds were allegedly received on November 25, 2025, with the understanding that the Dollar equivalent of $675,219.44 (Six Hundred and Seventy-Five Thousand, Two Hundred and Nineteen United States Dollars, Forty-Four Cents) would be remitted.

Preliminary investigations by the EFCC revealed that the suspects allegedly received the funds through a Providus Bank account and, instead of executing the agreed transaction, converted the money into digital currency and diverted it for personal use.

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Justice Ismail Ijelu, who delivered the judgment on Monday, also ordered the convicts to repay the stolen amounts to the complainant within six months.

The offences contravened Section 285 of the Criminal Law of Lagos State, 2011, as well as Section 27(3) of the Economic and Financial Crimes Commission (EFCC) Act, 2004, relating to non-disclosure of assets and refusal to declare properties.

One of the counts reads:

“Olumuyiwa Teniola Idowu and Tennyvams Nigeria Limited sometimes in 2012 at Lagos within the jurisdiction of this Honourable court, dishonestly converted to your own use the sum of $62,500 (Sixty-Two Thousand Five Hundred United States Dollars) being the cost of caterpillar parts, property of Rene Theodorous Johannes Brouwers of Brouwers USA Trucks and Parts”.

Another Count Reads:

“Olumuyiwa Teniola Idowu and Tennyvams Nigeria Limited sometimes in 2012 at Lagos within the jurisdiction of this Honourable court, dishonestly converted to your own use the sum of €36, 020 (Thirty six Thousand, Twenty Euro) being the cost and shipping of DAF Truck, Box trailer and two (2) tippers, property of Rene Theodorous Johannes Brouwers of Brouwers USA Trucks and Parts b.v.”

Idowu was first arraigned on November 27, 2024, where he pleaded not guilty, prompting a full trial.

During the trial, prosecuting counsel, E. S. Okongwu, called three witnesses and tendered eleven exhibits, all of which were admitted by the court. The defence counsel, Kehinde Olawumi, called one witness.

In his judgment, Justice Ijelu held that the prosecution proved its case beyond reasonable doubt and consequently found the defendant guilty as charged.

The court sentenced him to five years imprisonment on counts one to four, to run concurrently. He was also sentenced to five years imprisonment on counts five and six, with an option of a fine of N1 million on each count, to be paid within six months or serve the custodial sentences.

Additionally, the court ordered restitution of $62,500 and €36,020 to the nominal complainant within six months.

The convict was thereafter remanded at the Ikoyi Correctional Centre.

The post Lagos Court Sentences Businessman, Firm to 30 Years for $62,500 and €36,020 Fraud appeared first on Business Today NG.

The opening day featured a community sanitation exercise across fourteen (14) Area Commands within the state, alongside a free medical outreach at Computer Village, Ikeja which featured free medical check-up, health talks, medical counselling, blood pressure (BP) checks, blood sugar testing, Hepatitis B Virus (HBV) testing, Hepatitis C Virus (HCV) testing, eye examinations, retroviral screening (RVS), and free drug administration.

The initiative underscores the Nigeria Police Force’s commitment to community engagement, public health, and environmental sustainability, while strengthening the bond between the police and the citizens they serve. Residents of the area and passers-by benefited from the exercise and commended the Command for its proactive approach to accessible healthcare.

The Command reaffirms its dedication to service, partnership, and people-centred policing as activities for the National Police Day continue.

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The symposium aims to kick off an annual cycle of such eventsbringing together a unique community operating in the area ofAgricultural Index Insurance and therefore creating a highly specialized community of practice. Beyond the annual event the country level experts will form clusters and with support and mobilization of external solicitors will connect on an interim half year basis virtually to monitor and report on progress made.

During the symposium, Leadway will contribute to the panel discussion on ‘Scaling Agricultural Index Insurance for Resilient Food Systems’ – The private sector perspective and present a case study on innovative insurance models tailored for smallholder farmers.

The Group will also participate in the Solution Showcase segment, where it will highlight the Leadway WeatherGuard product and share insights on collaborative initiatives that foster public-private partnerships for climate adaptation.

Themed “How Africa’s Insurers are Reshaping Climate Resilience from the Ground Up,” the symposium brings together insuranceexperts, development partners, and Agricultural stakeholders to explore practical, scalable responses to climate risks.

Leadway’s participation in the symposium aims to demonstrate how locally tailored made Agricultural Index insurance products have provided climate resilience for over three million Nigerian farmers, providing timely payouts in excess of N15 Billion in payouts over a five year period.

This approach supports have farmer livelihoods, enables reinvestment, and underlines insurance’s role in strengthening food security and economic stability for African communities.

Speaking ahead of the event, Mr. Fatona Ayoola Paul, Leadway’s Global Head of Agricultural Risk Solutions, emphasised the urgency of strengthening Africa’s resilient frameworks through innovation, partnerships and collaboration.

He explained that Leadway’s agricultural index insurance model stands out for using weather data and satellite technology to trigger automatic payouts when adverse conditions, such as drought or excessive rainfall, are recorded.

Unlike traditional indemnity insurance, this approach eliminates the need for costly, time-consuming farm assessments, enabling faster support to farmers.

The insurance also offers bundled services, such as agronomic advisory services and digital enrollment, ensuring practical accessibility and greater impact for smallholder farmers.

“The demand for scaling Africa’s agricultural production is happening at interesting times when climate uncertainties and vulnerability are providing opportunities for innovation. This is where the Agricultural index insurance becomes an innovative concept that is now a practical tool transforming livelihoods across the continent. Platforms like this symposium allow us to deepen collaboration, share proven models, and accelerate impact to broaden such ingenious interventions across the continent,” he said.

The Africa Climate Insurance Symposium unites agricultural index insurance experts to build a dedicated community of practice. It drives cross-country collaboration among insurers, regulators, governments, and development partners, while encouraging international knowledge exchange. Through formal discussions and informal networking, participants will quickly share and replicate successful models to enhance regional cooperation.

The event brings together leaders and partners active in the insurance value chains such as Insuresilience Investment Funds (managed by Blue Orchard), Africa Reinsurance Corporation, Swiss Reinsurance, Continental Reinsurance, Pula Advisors, the Global Secretariat (BMZ/KFW), World Bank Global Shield Financing Facility, the Gates and Bayer Foundation among others to advance climate risk finance in Africa and continue laying the groundwork for regional replication.

With collaboration from key organizations and public-private partnerships, the symposium advances accessible, innovative insurance that bolsters African climate resilience and supports vulnerable communities. Leadway exemplifies African leadership through its actionable solutions and insights.

About Leadway Group

Leadway is a trusted Nigerian financial services group specializing in insurance, pensions, and wealth solutions. Known for innovation and strong governance since 1970, Leadway helps clients safeguard and grow their assets, reinforcing its leadership in the sector.

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