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Tag Dr Eugenia Ndukwe

Mrs Oluwakemi Ugwu, Managing Director/Chief Executive Officer (CEO) of NUPEMCO With the CEO of XEM Group, Dr Eugenia Ndukwe
General News

We pay over 500 retirees in Nigerian universities every month – NUPEMCO

By Emmanuel Afonne

The Nigerian Universities Pension Management Company (NUPEMCO) says it has no fewer than 500 retirees on its payroll that receive monthly pension.

Mrs Oluwakemi Ugwu, Managing Director/Chief Executive Officer (CEO) of NUPEMCO, said this on Thursday in Abuja when she received a delegation from XEM Consulting Limited, a subsidiary of XEM Group, organisers of the maiden National Pre-retirememt Summit.

The delegation was led by Dr Eugenia Ndukwe, the CEO of XEM Group.

The News Agency of Nigeria (NAN) reports that the Pre-retirement Summit earlier scheduled to hold on April 25, has been rescheduled to now hold on July 10 and July 11 in Abuja.

Ugwu while hosting the delegation said that retirement in Nigeria was a serious issue and as such the company had placed priority on it.

“If there is anything we have been able to do, it is to ensure that we educate our clients to appreciate the contributory pension; of course, there is a difference between the contributory pension and the defined benefits.

“You know that under the defined benefits, you wait, but with the contributory pension, you sit in your house and depending on the date of payments by your PFA, you get your alerts in your account.

“I think that has made life easier for the retirees who are enjoyin the benefits.

“You can imagine the insecurity, having to travel to different places to go and do certain things in the name of verification; it is not easy at that age.

“So, that is one beauty of the contributory pension. Once you have done everything and you have collected your lump sum, your monthly becomes regularly.

“If we have not achieved anything making life easier for the retirees is something we should applaud the industry for,” Ugwu said.

The NUPEMCO boss who lauded the achievement of the company in just five years of its existence noted that they were able to process mortgage for some or their clients having accessed 25 per cent from their contributory pension.

Leader of the delegation, Ndukwe, who had earlier briefed the NUPEMCO boss on the aim of their visit, noted that summit was envisaged to examine the retirement policies in Nigeria and the challenges faced by prospective retirees.

Ndukwe said the major aim of the summit would be to proffer solutions to the retirement challenges in the country.

This, she said necessitated the invitation of experts from China, Canada and few European countries to give country’s perspective on pension reforms.

“Pension Fund Managers and Pension Fund Administrators will also benefit from this summit, not only the prospective retirees.

“We have decided to make participation at this summit free. This is to give room for more prospective retirees to participate considering the economic situation in the country.

“The summit will be in three phases – the panel session, technical session and the award and those willing to participate can go to www.xemgroup.net/nps.

“The theme of the summit is ‘Challenges, strategies, prospects and opportunities at retirement in Nigeria’, and the awards during the summit will be in recognition of institutions and individuals promoting the welfare of retirees in the country,” she said.

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EDited by Vivian Ihechu

NLC President, Mr Joe Ajaero and Dr Eugenia Ndukwe, CEO, XEM Consulting Limited, a subsidiary of XEM Group, organisers of the maiden Pre-retirement Summit, during the visit to Labour House in Abuja
General News , Metro

Make retirement easy for workers, NLC urges FG, states

By Joan Nwagwu

President of the Nigeria Labour Congress (NLC), Mr Joe Ajaero, has urged the Federal Government to make retirement easy for Nigerian workers, especially now that the country is facing economic challenges.

Ajaero made the plea on Wednesday when he received a delegation from the XEM Consulting Limited, a subsidiary of XEM Group, organisers of the maiden Pre-retirement Summit, scheduled to hold in Abuja, from April 24 to April 25.

The visiting team was led by Dr Eugenia Ndukwe, the Chief Executive Officer (CEO) of XEM Group.

Ajaero said that a lot had been said about contributory pension without significant improvement from the regulators.

“Majority of the states have not started keying in, and one begins to wonder the essence of enacting a law.

“Even when the law criminalised none participation, no state has been prosecuted, fined or levied,” he said.

Ajaero regretted that pension matters in the country was becoming more of rhetorics rather than action.

He, therefore, urged the federal and state governments to take seriously the issue of workers pension and ensure they enjoy life after retirement.

“Government in this business is not just employers of labour, they are regulators, and if regulators are not doing anything, then there is problem.

“We are the main victims; even when people retire, the Pension Fund Administrators (PFAs) find it difficult to pay them, thereby making it a difficult long journey to access their money,” Ajaero added.

Speaking earlier during the visit, Ndukwe who is also a business development expert, said there would be opportunity at the summit to train prospective retirees on various skills, before they retire.

She said the summit was carefully planned to examine the retirement policies in the country, the challenges faced by prospective retirees and proffer a solution to it before they retire.

Ndukwe also said that experts from China, Canada and some European countries would be attending the summit to give their country’s perspective on pension reforms.

This, she said would be to find solutions to the challenges faced by retirees in Nigeria.

“We are bringing global participants to tell us what is happening in their countries, so that we will know how to utilise their own case study. Dr Folashade Yemi-Esan, Head of Service of the Federation, will be the keynote speaker.

“Lagos State Governor, Babajide Sanwo-Olu will be in attendance during the panel session to represent all the state governors, while Mr Adewale Tinubu, the Group Chief Executive Officer of Oando, will be representing the private sector.

“We will also have the MD of Smart Meters Malam Ibrahim Babagana will also participate in the panel session.

“The second phase of the programme will be the technical session where participants will be taken through knowledge and skill acquisition that will help them prepare for retirement.

“They will know how best to invest their money, the kind of businesses they can venture into after retirement and what decision they can make with the little money they have available.

“The third phase of the programme is the award. We want to recognise very few states, individuals, public servants who have contributed immensely to the reforms currently taking place around pension matters,” Ndukwe said.

According to her, there will be experts presentations by Prof. Du Pang, Director, Institute of Gerontology, China, and Mr Tajudeen Afolabi, Pioneer DG of PENCOM.

She added that the summit was open for government, private and public sector workers as well as financial institutions, labour unions, pension fund administrators and civil society organisations.

The summit will also feature technical sessions, networking sessions and awards in recognition of the contributions of institutions and individuals promoting the welfare of retirees in the country. (NAN)(www.nannews.ng)

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Edited by Emmanuel Afonne

Some participants at a pre-retirement training in Abuja
General News

Pre-retirement Summit: 500 prospective retirees to benefit from skill acquisition training

By Emmanuel Afonne

No fewer than 500 prospective retirees will benefit from skill acquisition training and strategic knowledge on retirement planning, at the forthcoming 2024 National Pre-retirement Summit in Abuja.

Dr Eugenia Ndukwe, Chief Executive Officer (CEO), XEM Consultants Limited, a subsidiary of XEM Group, sponsors of the summit, said seasoned investment advisors would be on ground to guide participants in any retirement planning and investment they might choose.

Ndukwe told the News Agency of Nigeria (NAN) on Monday that apart from investment advisors, reputable entrepreneurs and other experts would be at the summit to guide prospective retirees on their retirement plans as the country’s economy was unpredictable.

She said that the government, private, public and corporate sectors, financial institutions, labour unions, pension fund administrators and civil society organisations would also participate.

“The National Pre-retirement Summit is a pioneering and strategic initiative dedicated to addressing the challenges and the prospects prevalent at retirement in Nigeria.’’

Ndukwe said that the primary purpose of the summit was to meticulously examine the retirement policies in the country; the challenges and anxieties that prospective retirees face, and then propose policy directions.

“The summit will also provide a platform to sensitise and empower prospective retirees with retirement income generation strategies with expert guidance.

“The expert’s guidance may be in entrepreneurship, investment advisory, agriculture and agro-allied industry, export and import investment.

“It can also be in financing, real estate investment portfolio, the manufacturing industry, risk mitigation and management, healthcare and so on.

“But more importantly, these experts will help guide employees who have five years or less, into ventures they have passion for, and that will help them spend their retirement years in ease.’’

According to her, the maiden two-day summit will involve stakeholders across the labour value chain including employees who have up to five years or less to retire.

“XEM Group is the main sponsor of this event and this is because of our passion for the welfare of retirees who have contributed immensely to the economic development of this nation.

“Many retirees indeed face various challenges at retirement, but there are also many opportunities available to them, especially with the skills and experience they have gathered in their career; and this is what we want to guide them on.

“So, the summit will provide an inclusive and veritable platform for stakeholders to discuss and engage on a retirement policy direction that promotes the interest of retirees and empowers them with the right tools and resources to thrive during their post retirement.

“The summit will provide participants with a deeper understanding of retirement challenges and opportunities; it will equip them with the knowledge, tools, resources and networks needed to plan for a sustainable and productive retirement.

“The core mission of the summit is to enhance retirement security, foster financial sustainability and boost the overall well-being of retirees in Nigeria,” she said.

Ndukwe said that there would be technical sessions to equip participants with both the soft and hard skills they needed for a fulfilling life at retirement. (NAN)(www.nannews.ng)

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Edited by Chijioke Okoronkwo