{"id":160205,"date":"2025-04-23T11:13:43","date_gmt":"2025-04-23T10:13:43","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/kano-clears-n21bn-pension-debt-inherits-n48-6bn-liability-board-chair"},"modified":"2025-04-23T11:13:43","modified_gmt":"2025-04-23T10:13:43","slug":"kano-clears-n21bn-pension-debt-inherits-n48-6bn-liability-board-chair","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/all-news\/kano-clears-n21bn-pension-debt-inherits-n48-6bn-liability-board-chair","title":{"rendered":"Kano clears N21bn pension debt, inherits N48.6bn liability \u2014 Board Chair"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The Kano State Pension Fund Trustees says it has cleared N21 billion out of the N48.6 billion pension liabilities inherited from previous administrations in the state.<\/p>\n<p>Executive Chairman of the Board, Alhaji Habu Muhammad Fagge, disclosed this during an interview with journalists in Kano on Wednesday, describing the condition of the pension fund at the time Governor Abba Kabir Yusuf took office as \u201cdeeply troubling.\u201d<\/p>\n<p>\u201cWe inherited N48.6 billion in liabilities and also had to remit an additional N75 billion levied on local governments and some Ministries, Departments, and Agencies (MDAs),\u201d Fagge said.<\/p>\n<p>\u201cDespite this burden, we\u2019ve managed to settle N16 billion so far, with another N5 billion scheduled for disbursement soon.\u201d<\/p>\n<p>He added that the current administration had to deal with the fallout from extensive borrowing from the pension fund by the previous government, a situation that had left many pensioners in distress.<\/p>\n<p>\u201cAt one point, pensioners receiving N6,000 had N3,000 deducted without explanation. We couldn\u2019t find any clear formula for the deductions,\u201d Fagge revealed. \u201cPensioners were subjected to arbitrary and irregular deductions.\u201d<\/p>\n<p>He credited Governor Abba Yusuf for approving deductions from the source for pension remittances, restoring regular payments, and enabling the board to reach 100% monthly pension disbursement.<\/p>\n<p>\u201cEven though the debt was inherited, His Excellency took responsibility and ensured that payments were made, purely out of concern for the pensioners,\u201d he added.<\/p>\n<p>Speaking on the recovery of assets, Fagge noted that the board had reclaimed 324 vandalized housing units from previous investments gone awry.<\/p>\n<p>\u201cThose properties were in poor condition. The board opted to repurchase them at a negotiated rate of N4.5 billion after clearance from relevant state agencies,\u201d he explained.<\/p>\n<p>Fagge also touched on ongoing challenges, especially the surge in new retirees. \u201cIn December alone, over 4,100 new pensioners were enrolled due to mass retirements. With weekly interviews of about 200 to 300 retirees, the pressure is mounting,\u201d he said.<\/p>\n<p>Despite these hurdles, he expressed optimism, citing recent salary increases and upcoming mass employment as hopeful signs for the sustainability of the fund.<\/p>\n<p>He described the pension board office as a hospital of last resort, where many retirees come seeking support for hospital bills, rent, and food.<\/p>\n<p>\u201cOur concern is the people\u2019s concern. We are working to ensure that no pensioner is left behind. By God\u2019s grace, we are seeing light at the end of the tunnel,\u201d Fagge concluded.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Nigeria<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Kano State Pension Fund Trustees says it has cleared N21 billion out of the N48.6 billion pension liabilities inherited from previous administrations in the state. Executive Chairman of the Board, Alhaji Habu Muhammad Fagge, disclosed this during an interview with journalists in Kano on Wednesday, describing the condition of the pension [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":160204,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,30],"tags":[1286,254,10969,8234],"class_list":["post-160205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","tag-kano-state","tag-nigeria","tag-pension","tag-pensioners"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Kano clears N21bn pension debt, inherits N48.6bn liability \u2014 Board Chair - Nigeria<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/kano-clears-n21bn-pension-debt-inherits-n48-6bn-liability-board-chair\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kano clears N21bn pension debt, inherits N48.6bn liability \u2014 Board Chair\" \/>\n<meta property=\"og:description\" content=\"Africa-Press &#8211; Nigeria. The Kano State Pension Fund Trustees says it has cleared N21 billion out of the N48.6 billion pension liabilities inherited from previous administrations in the state. Executive Chairman of the Board, Alhaji Habu Muhammad Fagge, disclosed this during an interview with journalists in Kano on Wednesday, describing the condition of the pension [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/kano-clears-n21bn-pension-debt-inherits-n48-6bn-liability-board-chair\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-23T10:13:43+00:00\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/kano-clears-n21bn-pension-debt-inherits-n48-6bn-liability-board-chair#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/kano-clears-n21bn-pension-debt-inherits-n48-6bn-liability-board-chair\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Kano clears N21bn pension debt, inherits N48.6bn liability \u2014 Board Chair\",\"datePublished\":\"2025-04-23T10:13:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/kano-clears-n21bn-pension-debt-inherits-n48-6bn-liability-board-chair\"},\"wordCount\":417,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/kano-clears-n21bn-pension-debt-inherits-n48-6bn-liability-board-chair#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/04\/sm_1745394797.090053.jpg\",\"keywords\":[\"Kano State\",\"Nigeria\",\"pension\",\"pensioners\"],\"articleSection\":[\"all news\",\"Community\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/kano-clears-n21bn-pension-debt-inherits-n48-6bn-liability-board-chair#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/kano-clears-n21bn-pension-debt-inherits-n48-6bn-liability-board-chair\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/kano-clears-n21bn-pension-debt-inherits-n48-6bn-liability-board-chair\",\"name\":\"Kano clears N21bn pension debt, inherits N48.6bn liability \u2014 Board Chair - 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