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PenCom to Allow Workers Use Pensions for Mortgage

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The National Pension Commission, has commenced approval for workers to use 25 per cent of their Retirement Savings Accounts as mortgage.

It disclosed this in a statement on Friday, titled, ‘PenCom approves guidelines on accessing Retirement Savings Account balance, for payment of equity contribution for residential mortgage by RSA holders’.

The statement said, “PenCom is pleased to inform all stakeholders and the general public, particularly RSA holders, that the commission has approved the issuance and immediate implementation of the guidelines on accessing RSA balance towards payment of equity contribution for residential mortgage by RSA holders.

“The approval is in line with Section 89 (2) of the Pension Reform Act 2014, which allows RSA holders to use a portion of their RSA balance towards payment of equity for residential mortgage.”

According to the PenCom, the guidelines cover pension contributors in active employment, either as a salaried employee or as a self-employed person.

It added that the maximum amount to be withdrawn is 25 per cent of the total mandatory RSA balance as of the date of application, irrespective of the value of equity contribution required by the mortgage lender.

Where 25 per cent of a contributor’s RSA balance is not sufficient for payment as equity contribution, it added, RSA holders may utilise the contingency portion of their voluntary contributions, if any.

To qualify as a mortgage lender for the purpose, it stated, the company must be licensed by the Central Bank of Nigeria, comply with the Contributory Pension Scheme and have valid Pension Clearance Certificate.

Eligibility, it added, are that a worker must, “Have an offer letter for the property duly signed by the property owner and verified by the mortgage lender.

“The RSA of the applicant shall have both employer and employee’s mandatory contributions for a cumulative minimum period of 60 months (five years).

“A contributor, under the Micro Pension Plan is also eligible, provided he/she has made contributions for at least 60 months (five years) prior to the date of his/her application.

“RSA Holders that have less than three years to retirement are not eligible.

“Married couples, who are RSA holders, are eligible to make a joint application, subject to individually satisfying the eligibility requirements.

“RSA holders, if registered before July 1, 2019, must have their records updated through the RSA data recapture exercise.

“Application for equity contribution for residential mortgage shall be in person and not by proxy.”


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Okonjo-Iweala Urges Nigeria to Shift from Importing Tech to Local Manufacturing

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Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation, WTO, has urged Nigeria to move decisively beyond importing technology to manufacturing it locally, warning that sustained dependence on foreign technology weakens the country’s industrial base and constrains job creation in the digital economy.

Speaking at Ahmadu Bello University, ABU, Zaria, Okonjo-Iweala said the current disruption of the global order, driven by technology, geopolitics and climate pressures, presents both serious risks and unprecedented opportunities for Nigeria and Africa, if they are prepared to act strategically.

“It is always a pleasure to come home to Nigeria, but it is particularly special to be here at one of the country’s most important seats of learning,” she said, stressing that universities such as ABU must remain central to Africa’s technological, industrial and economic transformation.

Tracing Nigeria’s post-independence journey, Okonjo-Iweala recalled that at independence in 1960, the country had only one degree-awarding institution, making the rapid expansion of universities a critical pillar of nation-building.

She noted that institutions such as ABU laid the foundation for Nigeria’s scientific, technological and entrepreneurial capacity.

Founded in 1962 as the University of Northern Nigeria, ABU has evolved into a multidisciplinary institution producing graduates across engineering, medicine, sciences, ICT, public administration and the humanities.

“Research conducted here has advanced the frontier of knowledge and offered practical solutions to real-world problems, from animal feed innovations during dry seasons to wind power generation in rural areas,” she said.

Turning to global trends, the WTO chief identified technology, particularly the internet and artificial intelligence, AI, as one of the most disruptive forces reshaping trade, production and employment worldwide.

“The technological shift we are experiencing has made it easier to communicate, produce and trade, but not everyone has shared equally in the gains,” she said, warning that automation and AI could deepen inequality if not properly managed.

She stressed that multilateral institutions and global trade rules must evolve to respond to emerging technologies such as AI and quantum computing.

“We need a new kind of multilateralism, one that is nimble, responsive and capable of addressing new global opportunities,” she said.

Okonjo-Iweala said Africa stands to benefit from what the WTO now describes as “re-globalisation”, the diversification of global supply chains away from over-dependence on a few countries.

She identified opportunities in labour-intensive manufacturing, critical minerals processing, renewable energy technology, pharmaceuticals, agro-processing and electric vehicle, EV, supply chains.

“Africa has the capacity to process its critical minerals all the way to EV battery manufacturing,” she said, pointing to Nigeria’s emerging lithium processing investments and vast renewable energy potential.

Reinforcing her call for local technology production, she said Nigeria must stop importing technologies it can manufacture domestically.

“Instead of importing solar panels, we should be manufacturing them here. That is how we create jobs, build resilience and grow our economy,” she said.

Okonjo-Iweala warned that Nigeria’s projected economic growth of 4.4 percent remains insufficient once population growth is factored in, calling for sustained growth of 6 to 7 per cent driven by productivity, technology and value addition.

She said achieving this would require strong digital infrastructure, skills development and innovation-friendly policies, alongside full implementation of the African Continental Free Trade Agreement, AfCFTA.

“Technology-enabled trade and deeper regional integration could increase intra-African trade by up to 45 per cent and lift millions of people out of poverty,” she said.

With Africa projected to account for about 25 per cent of the global working-age population by 2050, Okonjo-Iweala described Nigeria’s young population as one of its greatest technology assets.

“On an ageing planet, Africa’s youth represent the world’s future talent pool,” she said, urging universities, policymakers and the private sector to better align education, innovation and industrial strategy.

She, therefore, called for stronger collaboration between academia, industry and government to ensure Nigeria does not miss the opportunities created by global technological disruption.

“This country has what it takes. What we need is urgency, coordination and the courage to invest in our people and our ideas,” Okonjo-Iweala said.


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Stanley Amandi, Nollywood Actor Arrested over Alleged Coup Plot against Tinubu

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Stanley Amandi, veteran Nollywood actor and filmmaker, has been arrested by the Nigerian military over his alleged role in a foiled coup plot to overthrow President Bola Tinubu’s government, according to an exclusive report by Premium Times.

Stanley Amandi, Nollywood Actor Arrested over Alleged Coup Plot against Tinubu

Stanley Amandi, Nollywood Actor

The filmmaker, also a former chairman of the Actors Guild of Nigeria (AGN) Enugu State chapter, was reportedly detained in September 2025 alongside several military officers accused of planning a violent overthrow, including potential assassinations of top officials, according to the newspaper’s sources.

Reports indicated that the coup plotters planned to wholesale assassination of top government officials including President Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, and Speaker of the House of Representatives Tajudeen Abbas, among others.

On Monday, the Defence Headquarters confirmed the plan to illegally oust the Tinubu administration, saying the indicted officers will be arraigned before military judicial panels.

In its statement, the Defence Headquarters said the investigation has been completed and forwarded to “appropriate superior authority in line with extant regulations.”

According to the military, the investigation was “comprehensive” and conducted in line with established procedures, examining “all circumstances surrounding the conduct of the affected personnel.”

The military disclosed that the findings identified “a number of the officers with allegations of plotting to overthrow the government,” describing such conduct as “inconsistent with the ethics, values and professional standards required of members of the Armed Forces of Nigeria.”

Mr Amandi has featured in many Nollywood movies and is known for his work as an actor, production manager and director.

His notable works include “The Album,” where he served as director; “Tiger King,” where he also served as director and produced in 2008; “Cornerstone,” produced in 2019; and “Once Upon a Dream,” in which he appeared as an actor in 2024.

Mr Amandi’s last Instagram post was on 19 September 2025, shortly before his arrest.


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Firms Commit to Boost African Robotics Market

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AfricAI and Micropolis Robotics have signed a multi-year exclusive distribution and deployment agreement, which marks one of the continent’s most significant robotics market entries.

Micropolis AI Robotics is a United Arab Emirates-based robotics manufacturer operating in autonomous systems, while AfricAI is a company building practical, revenue-driven artificial intelligence (AI) systems for African businesses, governments, and global partners operating in emerging markets.

According to the agreement, Micropolis Robotics named AfricAI as its exclusive continental partner, prohibiting direct sales, alternative distributors, and third-party agents from operating in the territory.

The partnership establishes AfricAI as the primary execution, localisation, and go-to-market platform for intelligent robotics in Africa’s industrial, security, logistics, and infrastructure sectors.

AfricAI said this exclusive mandate positions the company as the gateway for advanced autonomous systems entering African markets, ensuring regulatory compliance, local capacity building, and sovereign control over deployment frameworks.

The partnership, according to the two parties, moves beyond software- based AI into the realm of physical AI — intelligent machines capable of operating in complex, real-world African environments.

“This is not a collaboration, it is a market-shaping mandate,” said Fareed Aljawhari, CEO of Micropolis Robotics. “AfricAI now represents the exclusive gateway through which Micropolis technologies enter Africa. Their sovereign AI vision, operational reach, and regulatory fluency make them the only partner capable of executing at a continental scale.

Furthermore, the agreement enables AfricAI to integrate Micropolis’ autonomous robotics systems with AfricAI’s sovereign AI stack, resulting in AI-powered security and surveillance platforms, robotics-enabled logistics and port operations, industrial automation, smart infrastructure, and municipal robotics tailored to African operating conditions.

Initial deployments will commence in security, smart infrastructure, and logistics, with phased expansion across multiple African states as part of AfricAI’s broader continental AI, data, and intelligent infrastructure strategy.

The agreement also includes long-term performance-linked expansion rights, automatic renewals, and a defined localisation framework to support robotics deployment, workforce training, and skills transfer across Africa.

Prince Malik Ado-Ibrahim, executive chairman of AfricAI, said: “Africa does not need imported automation — it needs sovereign, context-aware intelligent systems. This exclusive mandate allows AfricAI to industrialise robotics deployment at scale while retaining control, compliance, and value creation on the continent.”

 


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