Kunle Adelabu
State officials of the Nigeria Union of Teachers, led by its Deputy State Chairman, Comrade (Mrs) Bolanle Adomeh, and members of the Endwell Scheme Board, on Wednesday, November 20, 2019, visited Ikorodu to sensitize teachers on the retirement initiative started by the board about 4 years ago.
The event took place at the Nigeria Union of Teachers (NUT) Secretariat hall located within the Ayangbure/Methodist/Oga Primary Schools premises, Allison Street, Ikorodu Garrage in Ikorodu.
The visiting State officials stated that the sensitization is necessary because only 35 teachers out of about 4000 teachers in Ikorodu are subscribers to the Endwell retirement scheme which they said has been fully embraced in some other states.
They clarified that the scheme was not initiated to rival or compete with various Cooperative schemes that teachers are involved in but to complement them and also give teachers secured future after retirement.
At the meeting were representatives of Tutor-General/Permanent Secretary, Education District ll, Mrs Anike Adekanye, representatives of the Director, Quality Assurance, ANCOPSS, AOPSHONS, Likeminds Elders Council as well as epresentaives of schools.
Meanwhile, Lagos State NUT Deputy Chairman, Comrade Bolanle Adomeh, speaking at the event, said that the team was in Ikorodu to discuss with teachers on how to move the teaching profession forward and ensure that they retire happily after service.
“We are here to propagate the gospel that will be beneficiary to everybody”, she stated.
“The Endwell scheme which started about 4 years ago, was initiated to enable teachers save part of their monthly earnings towards their last day in service.
“We have seen many teachers wasting away after retirement. This scheme is to prevent teachers from suffering after retirement and provide them with something to fall back on”, she added.
“We enjoin you to save a fraction of your monthly salary into the scheme and you are assured that your money is save with the scheme”, she said.
Comrade Banjo Moshood, Chairman, Endwell Scheme Board, while also addressing the teachers, expressed concern over the number of teachers that have subscribed to the scheme in Ikorodu.
“From our record, we have about 4000 teachers in Ikorodu but only 35 have subscribed to the Endwell retirement scheme”, he stated.
“We want massive support from Ikorodu teachers and we hope that the situation will change after this meeting”.
While giving the scorecard of the scheme since inception, Comrade Banjo stated that:
“In 2016, the sum of 380, 000 was issued as soft loan for teachers while N4.3million was issued as retirement benefits. In 2017, N8.3million was allocated for soft loan while N13.6million was issued to teachers as retirement benefits; In 2018, total sum of N19.5million was allocated as soft loan while over N19million was disbursed as retirement benefits.
He added that, “In the yet to be concluded year 2019, while over N13million has so far been given out as soft loan, more than N16 million has been disbursed as retirement benefits to teachers that subscribed to the scheme”.
According to Comrade Banjo, other benefit to be enjoyed by the subscribers of the scheme is access to soft loan which is payable within 12months.
While enjoining participants to go back to their constituencies and adequately inform others on the need to subscribe to the Endwell retirement scheme, he added that the board will be patronizing government bond through the Central Bank of Nigeria to invest the teachers’ savings and get returns on them.
Comrade (Dr) Olusola Koyi, a member of the board,in his own remarks, stated that the scheme became necessary due to the period it usually takes government to pay the teachers their retirement benefits.
“Having noticed the long years between the period of retirement and when government pays retirement benefits to teachers, we decided to fill the vacuum with Endwell Scheme”, he stated.
While seeking for the supports of the teachers in Ikorodu for the scheme, Dr Koyi assured them that their savings are secured.
“We need the support of teachers to succeed as a board, I also want to assure you that because the way the scheme is structured, no one or group of people can mismanage your fund”, he assured.
NUT Chairman, Comrade Fakolade Oluwafemi , while also speaking at the event, assured the board that Ikorodu teachers would fully participate in the scheme.
He also warned teachers against changing their consumption patterns when the government start paying the new minimum wage.
He, therefore, advised that the teachers should save the new increment on their salaries in the scheme and cooperatives.
He also, on behalf of Ikorodu teachers, called for the inclusion of representatives of Ikorodu teachers on the Endwell Scheme board.
Asiwaju Lateef Oduguwa, the former NUT Chairman, Ikorodu branch who retired last year, while testifying to the effectiveness of the scheme, regretted that he did not start making contributions into the scheme in good time.
He, however, charged teachers to key into the scheme, while assuring them that it would be beneficiary to them after retirement.
Aside Oduguwa, two other beneficiaries of the scheme also gave testimonies about their experiences.
Also at the event were the Education Secretary, Local Government Education Authority, Ikorodu, Lion Austin Oduloye, immediate past Chairman, NUT, Ikorodu branch, Asiwaju Lateef Oduguwa, Com. Omoregie Betty. ..Board member and Endwell Scheme Board Members – Com Onigbanjo Idiat, Com. Omoregie Betty , Com. Adebisi Samson, and Olusesi Olumide, Endwell Desk Officer.
