Over N500 million PHCN pension trapped in London

The eight-man-panel reported that over two million pounds (approximately N500 million) which ought to have gone to the retirement fund is presently stuck in a London account and that if recovered could help solve the ongoing impasse between the electricity workers and the federal government.

read more

Monday in Abuja, the Chairman of the investigative panel and a former Auditor-General of the Federation, Joseph Ajiboye said that Power Holding Company of Nigeria’s (PHCN) workers’ pensions was never a contributory scheme and was never funded by a budgetary allocation but rather through an internal arrangement in the company.

“The problem with the PHCN was that they didn’t have sufficient fund to be able to meet the requirements of that closed system, that is the major problem,” he said. Another major finding of the report according to Mr Ajiboye, was the existence of a mini—estate constructed to service the electricity workers’ retirement fund which was sold off without remissions to the fund, thereby starving the fund and making it impossible to pay off retired workers.

The investigative panel’s report has long been awaited. The panel was given 30 working days to probe the PHCN pension scheme especially the details of the N300 billion allegedly accumulated in the NEPA retirement fund which the former minister of power, Barth Nnaji had insisted was only N3 billion. The Minister of State for Power, Nuhu Wya, while receiving the report from the panel said “We hope this report will aid us to find a solution the lingering labour issue. And you know the only labour issue that is outstanding now is that of pension.”

The PHCN staff are demanding a 25 percent benefit on their pensions different from the 15 percent severance package offered by the federal government on grounds that this was a set standard for pensions and gratuity payoff peculiar to the PHCN pensions scheme under the retirement fund.

 The former Auditor-General said he believes that “government in its wisdom will find a solution to this problem.”

2012 US Open champion -Andy Murray

Andy Murray beats Novak Djokovic in US Open tournament. After a long match of almost five hours,last night  at Arthur Ashe Stadium.

The final score was 7-6 (10), 7-5, 2-6, 3-6, 6-2.

 

A 53 year old Woman Gives birth to her Granddaughter

Cindy Reutzel, 53, gave birth to a healthy baby girl who was conceived using the fertilized egg from her own daughter, Emily Jordan. Reutzel offered carry her daughter's baby after Jordan was diagnosed with cervical cancer in 2010. An operation to remove the cancer meant that Jordan is now unable to have children on her own.

read more

"I can't describe what that was like after finding out you have cancer, after finding out your chance of ever carrying a baby is gone," Jordan said.

"The thought of Emily and Mike not being able to have children and share that piece of their lives with someone just broke my heart," Reutzel said.

"I want Emily to have that connection with another human being like I had with her." So, that's when Reutzel, who hadn't given birth in three decades, offered to help her daughter and Emily's husband Mike, realize their dream of becoming parents.

 "What if I carried your baby for you?" Reutzel asked the couple. "We didn't really think that was a realistic option," Emily told her Mom.

But after both mother and daughter underwent a series of tests, including psychological evaluations, doctors implanted Reutzel's uterus with an embryo created with Emily's egg and Mike's Fluid. Reutzel was subjected to regular medical checkups throughout the unconventional pregnancy and received regular hormonal shots.

And when the baby was due, Elle Cynthia Jordan was delivered via cesarean section. Throughout the pregnancy, people naturally asked Reutzel how "her baby" was doing, but she says she was always quick to inform people that the baby growing inside her was actually her granddaughter.

 "This is a continuation of everything that she has done her entire life for me, which is to make sure that I have the best life possible," Jordan said. And while Reutzel went the extra mile to help her daughter become a mother, Reutzel was quick to note she had her own stake in the process:

becoming a grandmother. "I know I gave a gift," she says. "But I'm also getting so much in return."

Damilola Adegbite is no more with Tinsel

After four years of playing Telema Duke in the hit M-Net TV soap, Tinsel, Damilola Adegbite's management yesterday announced her exit from the TV series.

Bayo Akanni Ojuyobo, Top Fuji Musician died yesterday

                                                        His children

Top Fuji musician, Bayo Akanni aka Ojuyobo has passed on. He died yesterday, Sunday September 9, 2012 at the Lagos State University Teaching Hospital, Ikeja after a protracted illness.

But sources said, the Fuji musician died of a heart related disease.

He will be buried today at his residence in Mowe.

This was confirmed by his manager, Mr Rafiu.

May His Soul Rest In Peace!