By BISI OLADIPO
For Remi Oyo, former senior special adviser on media to Obasanjo, it was all joy for her last week, when her 42nd day in office as the new managing director of the News Agency of Nigeria, NAN, marked a new beginning for 230 pensioners of the new agency. The pensioners, 10 of whom are already deceased, were paid the sum of N147.9 million their pension arrears.
The presentation ceremony took place in the boardroom of NICON Insurance, Abuja. Jimoh Ibrahim, group managing director, NICON Group of Companies, presenting the draft to Oyo explained that the payment represented a close down of deposit administration as well as the endowment assurance for NAN.
He said with the payment, NICON was no longer indebted to NAN, adding that the reason for the payment was to bring all pension matters to zero and start afresh.
The N147.9 million disbursement to NAN represents the first instalment of the N6 billion NICON has set aside as pension for 125 institutions and parastatals to be paid.
The sum forms part of the N13 billion, which the new management of NICON inherited when it took over the organization about two years ago.
NICON had already paid N5 billion out of the N13 billion. Ibrahim said the payment of the N6 billion would bring the liability of N2 billion. According to him, the projection of NICON was to end all pension liabilities before December 2007.
Speaking on the source of the fund, he said NICON Group had structures in place where such funds could be sourced pending when the insurance arm would make enough money to pay back.
He said, “When he took over the organization about 15 months ago, we promised that pension liabilities would be out of the company’s books in two years. It is our joy to lead the industry in that capacity by paying N6 billion at a go. Nigerians should have confidence in the ability of NICON to cover risks.”
Receiving the draft, Oyo expressed gratitude to the management of NICON. She said the payment would provide succor to the families of the 230 pensioners out which 10 had passed on.
She said, “I have joy in my heart today that I can walk tall because our pensioners can rejoice that they are going to get their pension and even those we have lost to the cold hands of death can now sleep in peace because they know that their families will be taken care of.”
