Woman, 34, declared missing in Ekiti

The Police Command in Ekiti has declared a 34-year-old woman, Mrs Tolulope Orimogunje of Salaqua Street, Adin Quarter, Ilawe-Ekiti, missing.

This is contained in a statement on Thursday in Ado-Ekiti, by DSP Sunday Abutu, the command’s Public Relations Officer.

“The woman left home to an unknown destination on April 30, at about 17:30 hours and has not returned,” Abutu stated.

He said the woman is light in complexion, 5.4 fit tall, speaks Yoruba language fluently and has no tribal mark.

He said that though the command had commenced investigation to unravel her whereabouts, anyone with useful information concerning her present location should contact the nearest police station or call 09064050089.

Woman, 34, declared missing in Ekiti

N19.6 Trillion Pension Fund: Labour opposes FG’s plans to undermine retirement savings

By Joan Nwagwu

The Organised Labour has frowned at the Federal Government’s plan to utilise the N19.66 trillion pension funds for infrastructure development.

This is contained in a joint letter signed by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), which was addressed to the Minister of Finance on Thursday in Abuja.

The letter, which was signed by Mr Joe Ajaero, NLC President and Mr Tommy Etim-Okon, TUC Deputy President, was entitled “Leave our Pension Fund Alone:Do not Tamper with Workers’Funds”.

According to Ajaero, the announcement has ignited deep apprehension and unrest among Nigerian workers, who are the primary contributors of these funds.

“We, therefore, urge the government to reconsider its plans to tap into
pension funds and instead explore sustainable financing options that do not
compromise the retirement security of Nigerian workers.

“Organised Labour will resist any action that seeks to undermine the retirement savings of Nigerian workers,” they said.

The letter, however, noted that the government had allegedly accessed nearly 70 per cent of the entire pension funds, adding that it was not merely alarming; it was unacceptable.

It said that Nigerian workers had entrusted their hard-earned savings for retirement security, and not for government projects.

“It is imperative to halt any further plans to tap into these funds, especially given the lack of transparency and accountability in past government borrowing practices.

“You proposal to further leverage these funds for the purported betterment of housing and infrastructure raises serious concerns about fiscal prudence and responsible governance,”it said.

According to labour, where does the government intend to source the additional N20 trillion it seeks to acquire, especially considering the ambiguity surrounding previous borrowing practices from.

It said the lack of clarity on the matter only fuels skepticism regarding the feasibility and sustainability of the initiative.

“Nigerian workers demand assurances that their retirement funds will not fall victim to further Federal Government borrowing.

“This is especially when the PENCOM Board has not been constituted as enshrined in the statutes.

“One is left to wonder which Board superintends over such discussion with the government. Seeking to borrow from the fund is not backed by the Pension Act,” it said.

It said that this was in spite of the government’s assurances of widespread consultation with major stakeholders in the Pension industry.

It said it was disheartening to note that the NLC and TUC, representing the owners of the entire Pension fund contributions, were not consulted nor informed about the government’s intentions.

“This lack of transparency undermines the sanctity of pension funds, which should be treated with utmost reverence and protection at all times.

“It is incumbent upon the government to prioritise alternative sources of funding
that do not imperil the financial security of Nigerian workers.

“We insist that any initiative aimed at leveraging pension funds for national development must be executed with utmost transparency, accountability, and respect for the rights and interests of workers.

“Furthermore, we strongly oppose the notion of the government engaging in fierce competition with other users of funds in the Pension fund market.

“We remain resolute in our commitment to safeguarding the welfare and interests of workers across the country,” it said.

N19.6 Trillion Pension Fund: Labour opposes FG’s plans to undermine retirement savings

China accuses Biden of tariffs hike on electric cars

China has accused U.S. President Joe Biden of slapping new tariffs on Beijing as part of his re-election campaign and threatened retaliation.

“The U.S. should immediately correct its wrong practices and cancel the additional tariffs imposed on China,’’ a statement from the Beijing Ministry of Commerce said.

China would “take resolute measures to defend its own rights and interests after the U.S. decided to take this step due to domestic political considerations.’’

The U.S. is increasing tariffs on electric cars from China from 25 per cent to 100 per cent as part of a crackdown on Chinese imports, with solar cells, semiconductors.

Harbour cranes and certain medical products were also affected.

The official Chinese state news agency Xinhua added.

“The newly announced tariff increase is mainly a symbolic gesture by which the Biden administration is trying to play tough with China amid the increasingly fierce election campaign for the presidential candidacy.’’

The current tariffs, which were first introduced by former U.S. president and current Biden challenger Donald Trump in 2018 and have now been increased by the Biden administration.

The Biden administration already effectively kept Chinese vehicles out of the U.S. car market.

The Chinese state broadcaster CCTV spoke of an abuse of trade protectionist measured by the U.S. which would seriously hinder the modernisation of the U.S. car industry.

Negative effects are also to be expected for consumers, CCTV said, adding that the moves would also undermine global efforts to combat climate change.

The U.S. presidential election is coming up in November.

China accuses Biden of tariffs hike on electric cars