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NUJ Cooperative Thrives as Journalists Embrace Savings Culture for Financial Security

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National President, NUJ,Alhassan Yahaya

By David Owei, Bayelsa

The Nigeria Union of Journalists (NUJ) Cooperative in Bayelsa State is making a significant impact on the lives of journalists, encouraging a culture of saving and financial independence.

The Cooperative which started as a small initiative about ten years ago, to help members manage their finances before payday has grown into a reliable system of savings and investments.

It has continues to grow, providing financial relief and security for journalists in Bayelsa State. With its increasing membership and benefits, stakeholders are optimistic that more journalists will embrace the initiative, ensuring long-term financial stability in the profession.

Speaking during the NUJ Cooperative AGM to celebrate a successful 2024 at the State Council Secretariat, the Cooperative team lead, Mr Hussain Sheriff, revealed that many journalists who initially struggled to set aside money are now consistently saving up to fifty thousand naira monthly.

He emphasized that the cooperative has helped members cultivate financial discipline, ensuring they have funds to fall back on, especially during the festive season.

He said, “The cooperative started as a way to support members to be able to hold themselves before salary comes at the end of the month. The design is very simple, almost very insignificant interest, so that you can take a loan, hold yourself by end of the month, you now pay.

“But along the line, it has blossomed. We realized that a lot of people are ready to even save a lot of money, so that by December, they are able to tap into that money and use it to help their family.

The Director General of Bayelsa State New Media, Dr. Samuel Oredipe,
highlighted that the cooperative has been running successfully for almost a decade. He noted that membership continues to grow and encouraged journalists to embrace the habit of saving, no matter how little they earn, as it provides financial stability and support in times of need.

“I will like to encourage as many as possible, that no matter how little that you think you earn, you can save something reasonable from it and that you will be okay to a great extent in solving your immediate needs and that is what is key to me.

“So I am happy that I am with my friends and colleagues whom we share this cooperative together just to wine and to relax. I am also happy that we are increasing in number by the year, I just heard a few more addition of members into the NUJ Cooperative Society. I think it is good for us that we are growing”, Oredipe said.

Former NUJ Bayelsa Chairman, Tarinyo Akono, who played a key role in registering the cooperative, acknowledged the financial struggles journalists face, especially those in the private sector. He explained that the cooperative offers loans at minimal interest rates, unlike banks that impose strict repayment conditions. According to him, the initiative has been a lifesaver for many journalists.

He said, “I wouldn’t say journalists are poor people but I know that our remuneration is poor particularly those in the private sector. So while I was chairman, I mooted this ideal to register the cooperative in the name of the NUJ and then we started this process. We have assisted ourselves so much with this cooperative.

“For me, it is an opportunity to save, even though you might be saving else where. It is going to relief you going to the bank to take a loan and then stress yourself paying back. The situations are not the same at all. The interest here is very minimal, we don’t need to put you under pressure like the other regular Banks to pay back. That is why we encourage journalists to join.”

Tife Owolabi, Chairman of the Federated Correspondents Chapel, stressed the importance of saving, likening it to preparing for a “rainy day.” He urged journalists who are not yet part of the cooperative to join, stating that having savings readily available is a better alternative to seeking financial help from others during emergencies.

“I encourage NUJ members and others who have not keyed into this to actually join because you can never know when the need will come and when we are together in like minds, you can always believe that you will see a bail out at any given time. So, if you are not in the NUJ Cooperative, you are missing.

“Saving culture is actually good thing for any person especially for some us journalists who don’t really collect salary, the little thing you see one way or the other, just have that culture of saving and you will see that whenever the need arises, you are using it to solve your problem rather than going to beg people for help all the time”, he said.

Also, a female member of the Cooperative from the Ministry of Information Chapel, Mrs. Patient Nick Osuto, shared how the cooperative has been particularly beneficial for female journalists who also manage households. She explained that saving throughout the year allows them to comfortably afford bulk purchases during festive periods.

She said, “We developed a culture of saving from January to December, at least any amount you can save, maybe Ten Thousand or any amount you think you can save. It has been helping because at the end of the year, this money we have saved from the beginning of the year, is going to be shared, so that by the time you get your alert, that time you will feel very amazed how much you have save.

“I want to encourage other female journalists to come and join. It is not a bottleneck association, just feel free and join. Anybody can join as far as you are a journalist, you are welcome.”

Business & Economy

Insecurity: CSO urges Govt, Stakeholders to provide needed help to PWDS

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By Joshua Kingsley Kenneth

For over two months Nigerians have been awashed with the threat by the United States President, Donald Trump, to send in troops into Nigeria, to identify and eliminate terrorists and so-called bandits killing citizens and sacking communities.

The statistics have dwelt largely on the gruesome killings of unarmed and innocent Nigerians in different parts of the country- from Benue to Taraba, Borno to Kogi States, just to list a few.

Not long ago the country again woke to a stark reminder of the abduction of school with 300 kidnapped from a Catholic school in Niger State, and another 24 taken hostage from Government Girls Comprehensive secondary school in Maga in Kebbi state.

Added to this horrendous list of insecurities and woes are the killings and abductions in Kwara State, and the general air of danger and fear that has gripped the country resulting in unquantifiable economic losses and a credibility crisis on the part of the federal government.

It therefore did not come as a surprise to many, especially victims of these dastardly attacks, when the United States through the activism of some of its lawmakers inspired President Trump to move against Nigeria, especially seeing that the federal government had failed in its primary responsibility of protecting lives and properties of citizens.

Whilst JOSHUA K B DISABILITIES RIGHTS AND SUPPORT INITIATIVES, a non-governmental organization committed to promoting the rights, welfare and wellbeing of Persons With Disabilities (PWDs) in the country joins the millions of well meaning and right thinking Nigerians and the international community in condemning the heinous and barbaric acts of killings, abductions and the insecurity engendered by terrorists, bandits, non-state actors, other criminals, their financiers and supporters whoever and wherever they may be, we call for urgent attention to Persons who may have been disabled by this phenomenon.

We call on the federal government, especially the Ministry of Humanitarian Affairs, National Emergency Management Agency, state governments, the armed forces and other intervention partners to urgently identify victim-PWDs from these crises and provide such interventions that would help them integrate into the economic and political lives of their immediate communities and the country at large.

We are convinced that such quick interventions would prevent a stage two crisis such as depression, low self esteem, poverty, and a host of other debilitating post crisis trauma that would further deteriorate their situations.

We also call on military authorities to provide meaningful economic, social, material and other forms of assistance and interventions to service men who are now members of the PWDs community following their sacrifices on the line of duty.

As an organisation focused on advancing the course of PWDs, JOSHUA K B DISABILITIES RIGHTS AND SUPPORT INITIATIVES uses this opportunity to sensitise relevant authorities, CSOs and other stakeholders that the various violent armed conflicts and attacks in the country has caused physical harms, leading to new disabilities or worsening existing conditions.

It has caused families to flee homes, lose livelihoods and resources, forced many, especially old and PWDs, into begging and extreme hardship.

JOSHUA K B DISABILITIES RIGHTS AND SUPPORT INITIATIVES also calls the attention of stakeholders to the struggle PWDs to escape danger due to inaccessible environments, making them targets for abuse, neglect, and exploitation during crises.

Systems and measures must be put in place to pull PWDs from severe neglect, discrimination, and lack of basic needs like food and healthcare which they face in camps and displaced.

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Business & Economy

FG , NSITF , others throw weight behind Social Security Bill …As Senate assures stakeholders of acceptable law

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Senate in session in the chamber

By Our Correspondent

The Federal Government and the Nigeria Social Insurance Trust Fund ( NSITF) Monday threw weights behind bill on Social Security Trust Fund which seeks to harmonize the existing NSITF Act and the Employees’ Compensation Act (ECA) 2010 for better service delivery.

This is as the Senate through its committee on Employment , Labour and Productivity , assured all stakeholders at public hearing organised for their inputs into the proposed legislation , very acceptable law for all .

The bill sponsored by Senator Cyril Fasuyi ( Ekiti North) , primarily seeks to expand the scope of NSITF into social security through harmonization of NSITF Act of 1993 and the Employees Compensation Act 2010 which will transformed NSITF to Nigeria Social Security Trust Fund ( NSSTF).

In his presentation at the public hearing , the Managing Director and Chief Executive Officer of NSITF , Mr Oluwaseun Faleye, commended the Senate for what he termed a “strategic and forward-looking legislative intervention.

The new bill according to him, marks a decisive step towards modernising Nigeria’s social security framework in line with global standards, especially the International Labour Organisation (ILO) Social Security (Minimum Standards) Convention, 1952 (No. 102), and the Tripartite Consultation Convention, 1976 (No. 144).

One of the most significant elements of the Bill, according to him, is the repeal of both the NSITF Act of 1993 and the ECA 2010.

Their co-existence, he explained, had resulted in operational ambiguities, particularly after the Pension Reform Act (PRA) 2014 transferred contributory pension functions from NSITF to the National Pension Commission.

“The consolidation of the two Acts into a single, coherent statute is timely, necessary, and commendable. It eliminates duplication, resolves conflicts, and strengthens the legal framework of the Fund.

“The Bill’s expansion of social security coverage to include informal sector workers and self-employed persons is a historic step towards inclusive protection for all categories of working Nigerians”, he said .

Despite its broad support for the Bill, the NSITF raised concerns about what it described as the “misapplication” of the term Board throughout the document. Faleye warned that using the word to refer simultaneously to governance, oversight, and day-to-day administrative functions could create confusion and weaken accountability.

“The Board meets quarterly, while daily operations are under the Managing Director. The Bill must distinguish clearly between the Governing Board as oversight body, Management as administrators, and the Agency as the implementing institution,” he said.

He recommended that the Bill adopt clearer definitions similar to those used in the Federal Inland Revenue Service (FIRS) Act, where the Board’s role is separated from that of the Executive Chairman, who functions as the Chief Executive and Accounting Officer.

Faleye concluded by reaffirming NSITF’s full support for the passage of the Bill, describing it as “progressive, timely, and aligned with global best practices.”

In his remarks , the Minister of Labour and Employment, Alhaji Muhammadu Maigari Dingyadi described the move by the Senate on the proposed law as very beautiful idea .

He however urged the Senate through its committee on Labour to arrive at safe and acceptable position for all stakeholders by striking the required balance between powers of management team and that of the board .

Though the Nigeria Labour Congress ( NLC) and Nigerian Employers Consultative Association ( NECA ) , kicked against the bill, but NLC led by its National President, Joe Ajaero , later succumbed, saying ” we are not here for we no go gree, we no gree .. ”

” Since many of the other critical stakeholders have supported the bill, NLC is not hellbent in opposing it . But the grey areas we identified during presentation , should be addresed by the committee .

After exhaustive deliberation at the public hearing , the Committee , Chairman , Senator Diket Plang ( Plateau Central ) , assured Nigerians of very acceptable law on social security trust fund very soon .

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Business & Economy

Electric Buses To Crash Cost Of Transportation In Abia,says Gov. Otti

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Gov.Alex Otti of Abia State

By Our Correspondent

Disturbed the increasing cost of livelihoods suffered by Nigerians as a result of subsidy withdrawal by the federal government, Abia State Governor Dr Alex Otti has assured Abians and the residents of Abia that the electric buses which the State Government is bringing into the State will further crash the cost of transportation in the State.

Governor Otti who made the declaration at the November edition of Governor’s Media chat held in Government Umuahia, said electric buses have already started arriving in the State,adding that before the end of the year, the buses would be put on the road for peoples’ use.

He explained that the buses will reduce the cost of transportation,thereby easing means of transportation as well as making life easier for Abians

“Before the end of the year,our electric buses that have started arriving,will be put on the road and that will further crash the cost of transportation in Abia”

The Governor further explained that the Government has also intensified effort on revenue drive, especially those who are owing the government, to ensure that they pay.

” As a government we do not look at faces. As a rule we do not move with touts.As a government sometimes we may intervene and even when we intervene,the defaulters must surely pay”

Governor Otti, expressed appreciation to the people of Abia for their continued support and cooperation,adding that government has continue to pay attention to governance and the government efforts have started yielding positive results.

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