ADVERTISEMENT

Jigawa pension board realizes N2.6bn on return of investment

The Executive Secretary of the Jigawa State and Local Government Contributory Pension Scheme Board, Hashim Ahmad Fagam, yesterday said the board has made a profit of N2.6 billion in last year alone from its N20 billion investment under the care of Pension Fund Administrators (PFAs).

Fagam, who made the disclosure yesterday while briefing newsmen in Dutse, said unlike what was obtainable in other states where pension fund and payment processes were managed by the PFAs, in Jigawa state the PFAs only manage the fund for the state while all payment processes were handled by the board.

ADVERTISEMENT

He added that the state board’s fund was kept with PFAs for the purpose of benefiting from the profit realized on the return of investment by the PFAs saying, the huge investment by the state’s pension board had over the years helped in multiplying the capital base of the board’s fund and hence, the most successful pension scheme in the country.

Fagam, further explained that based on the success recorded by the scheme in about two decade of its existence, there was never a time either the state government or the board contemplated joining a new scheme adding that the rumour peddled in respect of changing the scheme was not true.

ADVERTISEMENT

“The only thing that is certain is that the fund of Jigawa state and local government contributory pension scheme board is under the custody of the Pension Fund Administrators but the management and handling of the fund is strictly by the board.

“The rumour being peddled that there is a plan underway to introduce a new pension scheme is not true and unfounded. There was never a time when such plan was contemplated and the present scheme has come to stay. The existing scheme is about 20 years old and within which there was never a time that the scheme turned out to be a disappointment,” he said.


Share this article

HOW I BECAME FREE OF HIGH BLOOD PRESSURE

DIABETES TOTAL CURE

EKWENSI helps to revive and rejuvenate the Pancreas which is the root causes of Diabetes, which results to frequent urination and loss of weight, tingling of the feet’s and many.

This drug cures diabetes completely within 2months of frequent usage. Call Sam on 08124139999 or 08077776226



BREAKTHROUGH NATURAL CURE FOR PROSTRATE ISSUES IN JUST 15 DAYS!!!

You Can Prevent PROSTATE CANCER!!!

Your PROSTATE ENLARGEMENT Is REVERSIBLE

Don't Let It Threaten You!

To SHRINK And NORMALIZE Your PROSTATE Within 15 Days Without Surgery Or Chemical Drugs, Click Here!!!

Join us on


Share your story with us: 08189301900 (Whatsapp and SMS only) Email: dtonline@dailytrust.com

Complain about a story or Report an error and/or correction: +2348189301900

DISCLAIMER: Comments on this thread are that of the maker and they do not necessarily reflect the organizations stand or views on issues.