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Akhigbe for burial November 23 P6 Mikel: Eagles W/Cup ticket sure P24 Malala’s book banned in Pakistan P61 www.thenationonlineng.net
VOL. 8, NO. 2662 MONDAY, NOVEMBER 11, 2013
TR UTH IN DEFENCE OF FREEDOM TRUTH
N150.00
‘60 per cent of pension’s N3.7tr cash in govt bond’
A
BOUT 60 per cent of the over N3.7 trillion pension cash is invested in Federal Government bonds, it was learnt at the weekend. Pension Fund Operators Association of Nigeria (PenOp) Chairman Misbahu Yola, spoke of the funds in Lagos during his inauguration along with other members of the executive.
By Omobola Tolu-Kusimo, Insursance Reporter
He was responding to Senate President David Mark’s statement that the funds were idle. Yola, who is also the Managing Director of Legacy Pension Managers Limited, said rather than criticise pension managers and custodians, the government should channel the cash borrowed from the
fund through the FGN Bonds to infrastructure development. According to him, the suggestions that 50 per cent should be directly invested in infrastructure cannot be taken now as the country has not developed up to a level where pension cash could be safe, if invested in infrastructure. Yola said: “Liquidity of the
funds and safety are paramount. All infrastructural projects in Nigeria involve government and this is usually fragile. We have to be careful where we put people’s money. It is even specified in the guidelines that we can invest in infrastructural fund and not infrastructure directly. “We already have over 60 Continued on page 4
ANAMBRA 2013
•Ngige: vote for governor, not ‘standby generator’ MORE •APC hails MASSOB for disowning APGA •AND ON PAGE 10 •PDP alleges plot by Obi, INEC to rig election
•President Goodluck Jonathan (third left front row), Vice President Namadi Sambo (second left), Senate President David Mark (left). From right are: NFF President Aminu Maigari, Sports Minister Bolaji Abdulahi, Speaker Aminu Tambuwal, PDP Chairman Bamaga Tukur, Eaglets captain Musa Mohammed with the victorious Golden Eaglets duringa special reception in their honour at the Presidential Villa, Abuja...yesterday
PDP crisis: Tukur faction set for showdown
Police cordon off road to party hqtrs Oyinlola to resume at ‘appropriate time’
F •Tukur
OUR armoured vehicles were last night deployed in the National Secretariat of the Peoples Democratic Party(PDP), following the tension generated by the reinstatement of Prince Olagunsoye Oyinlola as national secretary. President Goodluck Jonathan is said to have directed that Oyinlola should be reinstated, but this has pitted the Bamanga Tukur faction of the PDP against the New PDP headed by Al-
From Yusuf Alli, Gbade Ogunwale and Augustine Ehikioya, Abuja
haji Kawu Baraje. But the National Publicity Secretary of the mainstream PDP, Chief Olisa Metuh, told our correspondent last night that Jonathan did not issue such a directive. Metuh said: “There is no such directive and that is not how the party works. As I speak to you, there is no directive whatsoever from the Presi-
dent. I will issue a statement on Monday (today). “ We have not even got a copy of the judgment of the court, let alone talking about reinstatement. You see, the so-called New PDP engages in overdramatisation of issues. Rather than taking up issues with them, we have decided to focus on our work at the secretariat.” There was a heavy security build-up at the Wadata Plaza National Secre-
tariat over plans by Oyinlola to resume duties today to press home last Wednesday’s Court of Appeal judgment which quashed his sack and ordered his return to office. Four armoured vehicles and some policemen were deployed in Wadata Plaza in Zone 5 in Abuja where the National Secretariat is located. It was learnt that the deployment of policemen was a pre-emptive measure Continued on page 4
•SPORTS P24 •CEO P27 •JOBS P32 •POLITICS P45 •TRANSPORTATION P47