Wednesday 31st August 2016

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Pension Assets Hit N5.8tn as Pencom Seeks to Invest 40% in Infrastructure James Emejo in Abuja

The Director General of the National Pension Commission (PenCom), Ms. Chinelo AnohuAmazu, yesterday hinted that the total pension assets had hit N5.8 trillion, adding that the commission was targeting

to invest 40 per cent of the funds in infrastructure and housing by 2019. She was, however, quick to add that the safety of such investments would not be compromised, as they would require guarantees from government and stakeholders.

She said currently, 15 per cent of the assets are invested in infrastructure bonds, five per cent in infrastructure funds, 35 per cent in corporate bonds, and 20 per cent in mutual funds. Speaking in Abuja on “Using Pension Funds for

Infrastructure Development to Enhance Inclusive Growth” at an interactive forum organised by the Financial Correspondents Association of Nigeria (FICAN), she also disclosed that a multi-funds investment structure was being put in place to allow

people some flexibility in investment choice, taking into consideration age, among others. However, the PenCom boss further revealed that having recovered about N10 billion from employers who had failed to remit pension deductions,

the commission had engaged the Economic and Financial Crimes Commission (EFCC) to prosecute employers who criminally deduct pensions without remitting same to Pension Funds Administrators Continued on page 8

Naira Sinks to N418/$, But Demand for Nigerian Crude Remains Strong...

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Wednesday 31 August, 2016 Vol 21. No 7796. Price: N250

www.thisdaylive.com TR

TODAY'S WEATHER

ABUJA 16°C-33°C

MAIDUGURI 15°C-35°C

UT H

& RE A S O

ENUGU 22°C-34°C

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KANO 11°C-33°C

LAGOS 23C-31°C

PORT HARCOURT 20°C-30°C

Nigeria Can Break up, It’s Not Indivisible, Says Ango Abdullahi Declares N’Delta Avengers worse than Boko Haram

Paul Obi, Peter Omale and Marvellous Okeke in Abuja A member of the Northern Elders Forum (NEF) and former presidential aide, Prof. Ango Abdullahi, yesterday took on those calling for the restructuring of the country, suggesting that if the amalgamation of the country by Lord Frederick Lugard in 1914 was a mistake, it would

be best for each region to go their separate ways. Abdullahi made this known during the launch of two books by Dr. Hadiza Isa Wada titled, “Boko Haram: The Charade vs. Reality” and “The Life and Times of Umaru Turakin Bauchi”. He queried agitators clamouring for the Continued on page 10

Chagoury Denies Using Donations to Clinton Foundation for State Dept Favours

Joseph Ushigiale with agency report

Lebanese-Nigerian billionaire, Mr. Gilbert Chagoury, has denied United States media reports alleging that he capitalised on his donations to the Clinton Foundation to seek favours from the US Department of State, when Democratic Party presidential nominee Hillary Clinton was

Secretary of State. Following donations of between $1 million and $5 million to the Clinton Foundation, an aide of former President Bill Clinton, Doug Band, was reported to have pushed for access for Chagoury after Hillary Clinton took over at the State Department. In 2009, Band wrote his Continued on page 8

Urhobo Militia Dares Military, Blow up Pipeline in Delta... Page 46

CREATING JOB OPPORTUNITIES

R-L: Vice President Yemi Osinbajo, in a handshake with the Minister of Information and Culture, Alhaji Lai Mohammed, while the Minister of Youth and Sports, Mr. Solomon Dalung, and his counterpart in the Labour and Employment Ministry, Senator Chris Ngige, look on before the kick off of the Google 400,000 jobs training programme, held at the State House, Abuja… yesterday


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