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GMB Moves to Scrap Pension for Ex-Governors

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General Muhammadu Buhari, president-elect, is to lead a campaign to repeal the pension laws for governors enacted by many states of the federation in line with his campaign promise to tackle pension, gratuity fraud.

Buhari is of the opinion that there was no way Nigeria could survive under the financial weight of the pensions that had been earmarked for governors.

Vanguard reported that the president-elect described the pension laws as enacted by states controlled by APC and PDP governors as scandalous.

The proposal by the incoming president is based on what sources close to him affirm as the incongruity of the laws under the country’s socio-economic environment and also, as a way of demonstrating moral leadership from the top.

Majority of the nation’s 36 state Houses of Assembly have enacted generous pension entitlements for governors that in many cases provide 100 per cent pay for the incumbent governors buildings, generous medical allowances for them and their family members and annual holiday provisions, all of which are to last for life. Provisions in the pension allowances are also made for staff, security and vehicles that are renewable every three or four years.
 
Vanguard said that Buhari’s inclination towards a review of the pension for former governors was first publicly declared few days to the presidential election at the All Progressives Congress (APC) retreat in Owerri, Imo State.

According to the source, “he was very blunt about it and said that it was something that was going to be done immediately, especially because it is not something that can be sustained.

“The feeling was that not only was it wrong and morally unconscionable, but that it was not something that should be encouraged, and he was appealing to them that it should be changed.”

However, the response of the governors, who were present at the retreat, was not immediately given.

Many states of the federation had steadily been passing the law since return to civil rule. States like Lagos, Edo, Gombe, Oyo, and Rivers have passed the law, through which several former governors are already drawing applicable benefits, which in some cases are 100 per cent of what the incumbent is earning, while in others, some benefits in the pension laws are as high as 300 per cent of what obtains in some states.

100% of basic salary in Lagos

The Lagos State Governor and Deputy Governor Pensions Law of 2007 provides that “a former governor and family (spouse and children both married and unmarried) are entitled to free medical treatment which is not capped. Another highlight is that the ex-governor is entitled to a cook, steward, gardener and other domestic staff who are pensionable.

The benefits:

Annual Basic Salary: 100% of annual basic salaries of the incumbent governor and deputy.

Accommodation: One residential house in Lagos and another in FCT for the former governor; one residential house in Lagos for the deputy.

Transport: Three cars, two backup cars and one pilot car for the ex-governor every three years; two cars, two backup cars and one pilot car for the deputy governor every three years.

Furniture: 300 per cent of annual basic salary every two years.

House maintenance: 10 per cent of annual basic salary.

Domestic staff: Cook, steward, gardener and other domestic staff (no limit) who shall be pensionable.

Medical: Free medical treatment for ex-governor and deputy and members of their families (not just spouses).

Security: Two DSS operatives, one female officer, eight policemen (four each for house and personal security) for the ex-governor; one SSS operative and two policemen (one each for house and personal security) for the deputy. PA: 25% of annual basic salary.

Car maintenance: 30% of annual basic salary.

Entertainment: 10% of annual basic salary.

Utility: 20% of annual basic salary.

Drivers: Pensionable (no limit to number of drivers).

Severance gratuity: Not specified.

100% of basic salary in Kwara

The law stipulated that qualified former governors and their deputies be paid pension for life, without other perks like accommodation, cars, etc.

The law was reviewed in 2010 by Bukola Saraki, a former governor of the state and a serving senator, who with the support of the state House of Assembly imposed outrageous raises on all the benefits.

The 2010 law gives a former governor two cars and a security car, replaceable every three years. The governor is also entitled to a “well-furnished 5-bedroom duplex,” furniture allowance of 300 per cent of his salary (which totals over N6 million).

The law also gives the governor five personal staff paid for by the state, eight policemen, three DSS operatives (of which one must be a female), free medicals for the governor and the deputy.

Other entitlements are 30 per cent of salary for car maintenance, 20 per cent for utility, 10 per cent for entertainment, 10 per cent for house maintenance.

100% of basic salary in Rivers

The Rivers pension law was first approved in 2003 by former governor, Peter Odili, having been passed by a state assembly headed by the present governor, Chibuike Amaechi as speaker.

The 2003 pension law provides pension for life for governors and deputies, defining “pension” as embodying annual terminal basic salary, annual transport allowance, annual rent subsidy, annual utility allowance, entertainment allowance, domestic staff of not more than four.

Like Lagos, the new law gives the former governor a house in Rivers State and anywhere in Nigeria. The former governor is also entitled to pension for life at the rate of the governor’s basic salary, 300 per cent of salary for furniture paid every four years, three cars every four years, free medical and 10 per cent for house maintenance.

The law gives the former governor a security detail comprising two DSS operatives, four police officers, 30 per cent for car maintenance, 10 per cent entertainment, 20 per cent utility and several domestic staff.

100% of basic salary in Edo

The Edo State House of Assembly on May 16, 2007 passed a law entitled ‘Provision for the Pension of Rights of the Governor and Deputy Governor of the state.’

This law was passed few weeks before Governor Lucky Igbinedion left office as Governor of Edo State.

It provides for 100 per cent pension for the governor at a rate similar to the salary of the incumbent office holder and for domestic staff among others for the former governor.

300% of annual salary in Oyo

The Oyo State Pension Law 2004 provides that the Governor and Deputy Governor after leaving office shall be entitled to Pension for life at a rate equivalent to the annual salary of the incumbent Governor or Deputy Governor. Furniture Allowance of 300 per cent of the annual basic salary, Leave Allowance of 10 per cent of annual basic salary and severance allowance of 300 per cent of the annual basic salary.


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Baobab Partners with NYSC to Promote Financial Literacy Amongst Corp Members

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Jollof+, a product of Baobab Nigeria, one of the finest leading financial services dedicated to supporting the financially excluded and unbanked communities in Nigeria has partnered with the National Youth Service Corps (NYSC) to promote financial literacy and increase awareness of its financial services among corps members nationwide.

This initiative, implemented in NYSC camps in Lagos, Sagamu, Abuja, Keffi, and Uyo seeks to educate young Nigerians on the importance of saving and financial literacy.

Through this partnership, Jollof+ sponsored Mr Macho and Miss NYSC events at Ogun state camp, where winners were awarded amazing items and also provided with valuable insights into how they can use the Jollof+ app to save smarter and manage their money more effectively.

Commenting on the partnership, Joy Micheal-Oti, Business Development Manager, Baobab Nigeria, said: “We believe that financial literacy is the key to financial independence, and it is something every young Nigerian should know.

“Our partnership with NYSC is our way of investing in the future of Nigeria by helping corps members understand how to save, invest, and secure their financial future with Jollof+. These are the leaders of tomorrow, and we want to ensure they are well-prepared for the future ahead of them.

In addition to promoting financial literacy, the partnership also aims to build brand awareness for Jollof+, a fast-growing digital savings platform designed to simplify how Nigerians manage their money. Corps members were introduced to the key features of Jollof+, including its high-interest savings options like Jolloflock, Ajo+, and Babybox, which are designed to cater to various savings goals.

On their part, the State Coordinator NYSC Ogun State, Mrs Nasamu Olayinka Diana said, “We are excited about the partnership with Jollof+ as it aligns with our youth development initiative, where we equip corp members for the future ahead.

When you invest in the youths, you have not wasted anything, they are indeed the best place to invest in. Thank you Jollof+ for this partnership, it will indeed have a great impact on our corp members.

With Nigeria facing rising inflation and economic uncertainty, financial literacy has never been more important. Young Nigerians, particularly corps members, are entering the workforce and facing financial challenges that require them to be financially savvy.

Jollof+ plans to continue expanding its reach to more NYSC camps across the country in the coming months, ensuring that even more young Nigerians are introduced to Jollof+ and the importance of financial literacy


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d.light Named as a Finalist for Prince William’s 2024 Earthshot Prize

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d.light, the global provider of transformational household solar products and affordable finance for low-income households, was today announced as an Earthshot Prize Finalist at the third-annual Earthshot Innovation Summit.

Founded by Prince William in 2020, The Earthshot Prize is the world’s most prestigious environmental prize designed to discover, spotlight and scale the groundbreaking solutions we need to repair and regenerate our planet.

The five eventual winners will be crowned at The Earthshot Prize Awards Ceremony in Cape Town, South Africa in early November, with each receiving £1 million in prize money to support efforts to expand the reach of their transformational products and services. This year’s shortlist was selected from a pool of close to 2,500 organisations across 139 countries.

d.light is named alongside an inspiring group of global innovators, entrepreneurs, community leaders and advocates pioneering solutions to our most pressing climate and environmental challenges.

Finalists also earn a place on the Earthshot Fellowship Programme, receiving dedicated mentorship, resources, and technical support, including access to The Prize’s Global Alliance of Partners, a robust network of the world’s largest businesses, donors, investors and environmental organisations committed to climate action.

Commenting on the news, d.light CEO Nedjip Tozun said: “We’re truly honoured to be named as a finalist for such a prestigious award, and recognition from the Earthshot Prize committee is a reflection of d.light’s efforts to support underserved communities by providing access to safe, affordable off-grid solar solutions.

“2024 has been a landmark year so far for d.light and it’s exciting to see that our impact has extended beyond the solar industry to the wider sustainability community.

“Pivotal moments have included raising USD$176 million in securitized financing in Kenya, Uganda and Tanzania, launching our customer loyalty programme and installing solar in over 1.7 million off-grid households across Africa.

“d.light is the first company in the off-grid energy sector to be nominated for the Earthshot Prize, outlining our credentials as a pioneer in this space.

Since the company was founded in 2007, we’ve developed unique and innovative ways to manufacture, distribute and finance solar projects in the developing world, allowing us to transform the lives of over 175 million people in the process.

“To be named as a finalist helps us amplify our core message that so many still live without access to a safe source of electricity, while supporting our efforts to spearhead the rollout of reliable solar solutions,” Tozun concluded.

“With this milestone, d.light moves one step closer to achieving our wider aim of transforming the lives of one billion people by 2030 by giving them access to safe, clean, affordable renewable energy.”


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Report Finds 30% More Young Gamers Targeted by Cybercriminals in H1 2024 vs. H2 2023

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The number of unique users targeted by cybercriminals using popular children’s games as a lure surged by 30% in the first six months of 2024 compared to H2 2023, according to Kaspersky experts.

 

Researchers analysed gaming risks for young players and discovered that more than 132,000 users had been targeted by cybercriminals. More details can be found in the latest Kaspersky report on cybercrimes targeting young gamers.

The most exploited children’s games

Kaspersky looked into the threats disguised as popular kids’ video games and analysed the period from July 1, 2023, to June 30, 2024.

Throughout the reported period, Kaspersky security solutions detected more than 6.6 million attempted attacks, where cybercriminals used the brands of the kids’ games as a lure.

Out of the 18 games chosen for this research, the majority of attacks were related to Minecraft, Roblox, and Among Us. According to Kaspersky’s statistics, more than 3 million attempted attacks under the guise of Minecraft were launched throughout the reported period.

Most likely, cybercriminals chose this method of attack based on the popularity of games among players, as well as the ability of gamers to use cheats and mods. Since the majority of mods and cheats are distributed on third-party websites, attackers disguise malware by posing as these applications.

Kaspersky experts believe that the higher success rates detected in 2024 can be explained by the trends observed in the recent developments of the general cyberthreat landscape.

On the one hand, following popular trends, cybercriminals launch more cunning attacks, exploiting the current agenda and crafting less obvious schemes, instead of using generic attacks.

On the other hand, cybercriminals are increasingly using AI to automate and personalise phishing attacks that are more likely to deceive young gamers. At the same time, new advanced phishing kits — pre-made templates of phishing pages — created with automated tools consistently appear on the dark web, allowing an increasing number of attackers to deploy highly effective phishing sites that mimic popular gaming platforms.

Scams on children’s favourite games

One of the most common scams in gaming is the offer to receive new skins for your character — essentially clothing or armor — that enhance the hero’s skills. Some skins are common, while others are extremely rare and, therefore, more desirable.

Kaspersky experts have found an example of a scam that uses both the name of popular game Valorant and that of the world-famous YouTuber Mr. Beast. By selecting this blogger and using his photo, the fraudsters aim to capture children’s attention and hook them into their fraudulent scam.

To receive the desired Mr. Beast skin, young users are asked to enter their login and password for their gaming account, enabling their credentials to be potentially stolen by scammers as a result.

Another popular trap is the offer of receiving in-game currency. In one of the discovered scams exploiting the Pokémon GO brand, users are asked to enter the username for their gaming account. Next, they’re asked to take a survey to prove they’re not a bot.

Once the survey is complete, they are redirected to a fake website, usually one promising free prizes or giveaways. This is where the real scam kicks in.

The scammers aren’t actually after personal data like credit card details; they’re using the guise of gaming to lure users into another hoax — one involving fake downloads, prize claims, or other deceptive offers.

The whole process is a clever way to redirect users to a different, more dangerous scam under the pretense of a legitimate verification step.

“Throughout our research, we see attacks on children are becoming a common vector of cybercriminals’ activities. That’s why cyber hygiene education and the use of trusted cybersecurity solutions are a ’must-have’ in building children’s safety in the online environment.

By fostering their critical thinking, responsible online behaviour, and a strong understanding of the risks, we can create a safer and more positive online experience for this generation of digital natives,” comments Vasily Kolesnikov, security expert at Kaspersky.

 


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