TUESDAY 10TH NOVEMBER 2020

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PenCom Okays Transfer Window for Pensioners to Change PFAs James Emejo in Abuja The National Pensions Commission (PenCom) has finalised plans to commence the implementation of the Retirement Savings Account (RSA) transfer window under the Contributory Pension

Scheme (CPS). The transfer process, which is scheduled to commence from November 16, will allow RSA holders to transfer their accounts from one Pension Fund Administrator (PFA) to another within a year, in line with Section 13 of the Pension

Reform Act of 2014. The commission in a statement yesterday said the launch would signify the official opening of RSA Transfer Window. Prior to the launch, PenCom had successfully developed the RSA application, which is an

electronic platform to enable seamless account transfer. The transfer window option means that retirement account holders can port from one PFA to the other even if he or she does not give any reason for the action. Experts believed the

development will translate into increased competition in the PFA space as account holders will move to operators that give them the best returns on investment. The commission, however, said it has also conducted extensive workshops for

licensed pension operators and state pension bureaus in readiness for the epochmaking event. "The activation of the RSA transfer process will engender competition and improve Continued on page 8

CBN Opposes Suit to Remove Arabic Inscriptions from Banknotes... Page 6 Tuesday 10 November, 2020 Vol 25. No 9346. Price: N250

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Oil Prices Jump by 10% over Pfizer’s Report on Covid-19Vaccine Trump, Biden, Buhari laud American manufacturer Martins Ifijeh in New Jersey, USA and Emmanuel Addeh in Abuja with agency reports Oil prices jumped by almost 10 per cent yesterday for its

biggest daily gain in more than six months after Pfizer announced promising results for its COVID-19 vaccine candidate and Saudi Arabia said an OPEC+ oil output deal

could be adjusted to balance the market. Pfizer and BioNTech had said yesterday that a vaccine they jointly developed is 90 per cent effective in preventing

COVID-19 infections in ongoing phase 3 trials. The message of hope instantly drew applause from the world audience, bringing the United States President,

WHO, Canada hail progress Mr. Donald Trump, and the President-elect, Mr. Joe Biden, to their first convergence in recent months, as both congratulated Pfizer on its scientific trial.

President Muhammadu Buhari also waded in, welcoming the development and expressing the hope that Continued on page 8

#EndSARS Protesters’ Demand for Justice, Good Governance Legitimate, Says UN Commends FG’s quick response to demands Urges govt to facilitate security sector reforms, address concerns Buhari: It's in protesting youths' interest to keep peace Omololu Ogunmade in Abuja The United Nations (UN) yesterday reiterated its support for the #EndSARS protesters’ agitations for social justice and good governance, describing the peaceful campaign, which later snowballed into violence when hoodlums hijacked it to loot and torch public and private assets, including police stations, as legitimate. However, against the backdrop of the violent disruption of the #EndSARS peaceful protest, President Muhammadu Buhari yesterday told youths who championed the #EndSARS demonstration that it is in their interest to keep the peace. Answering questions from State House reporters after

leading a UN delegation to a meeting with Buhari, Deputy Secretary-General of the UN, Ms. Amina Mohammed, said such agitations must, however, be pursued peacefully. Mohammed, Nigeria's former Minister of Environment, added that both the UN Secretary-General, Mr. Antonio Gutteres, and the entire organisation were alarmed by the weight of the protests and consequent level of destruction. She said the UN supported Nigerian government's efforts to meet the demands of the youths, adding that the reform of the security sector, which spurred the unrest has become compelling. Continued on page 8

Buhari Directs Compulsory Health Insurance for Corps Members... Page 5

MESSAGE FROM THE UN... Deputy Secretary-General, United Nations, Ms. Amina Mohammed (left), and President Muhammadu Buhari during a visit by UN delegation to the president in Abuja…yesterday


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