A foremost pension expert, Managing Director/Chief Executive Officer, Chief Felix Ohiri Amadi has launched a book entitled ‘Retirement in Nigeria: A Management Approach’ penultimate Thursday in Lagos. Amadi said he wrote the book to address critical issues on retirement. “People in retirement and those planning retirement in Nigeria do not have literatures to t consult,” he stated. Many retirees in the Nigerian society and the problems they are facing draw the attention of all and sundry.
These problems seem to range from sudden loss of life, loss of the usual monthly salary, anxiety about a residential home, lack of occupation, dwindling status, decreased strength and deteriorated health condition, physical disabilities and aging. In Nigeria, the delay in payment of persons and gratuities has brought untold hardship and death to many retirees, thereby making retirement something that is dreaded by workers.
This problem is further compounded by lack of planning and management of post-retirement epoch and conditions. Obviously, many people enter into retirement without any personal plans or pre-retirement counselling. Employers of labour on their own part have not done much to enlighten the labour force on the need for planning for retirement. Hence, many workers enter into retirement as destitute. Retirees in Nigeria today are more like beggars especially those who retire without planning. Speaking on the objectives of the book, Amadi said the book addresses challenges of retirement in Nigeria, on the back of research being an important component of retirement management.
The book has attracted several comments from both the academic and non-academic quarters. The Catholic Archbishop of the Metropolitan See of Lagos, Most Reverend (Dr.) Alfred Adewale Martins commenting on the book said, “Coming from a brilliant hands-on professional, the book has brought to the fore, critical issues which have remained outside our social policy framework. Let the legislators and policy makers know it is time to begin to consider the welfare of the elderly as is obtainable in all civilized societies.
” Describing the book as well written, very comprehensive and highly informative, Former Dean, Faculty of Management Sciences at the University of Lagos, Professor Rasheed Kola Ojikutu stated that it will benefit the legions of retirees in Nigeria in particular and the world in general. He added that the book is a compendium for students offering a course in pension and social insurance in the tertiary institutions in Nigeria. The National President, Coalition of Societies for the Rights of Older Pensions in Nigeria, Senator(Dr.) Eze Ajoku has this to say: “I totally agree with Dr. Bamanga Tukur that the book should be a compendium for leaders, planners, learners, researchers and most importantly lawmakers whose efforts today guide our future.
” In his remarks, versatile scholar and Vice Chancellor, National Open University of Nigeria (NOUN) Prof. Abdalla Uba Adamu avowed “I have perused the book and so, consider it an important document for individuals, groups and corporate organizations. It is a must read for all stakeholders as it affects retirement and the management approach thereto.”A political economist and former Minister of Education, Alhaji Dauda Birmah noted that “much as it is important for everyone to understand and follow the management process advocated in the book, the process must also enjoy the support of economic growth and social investments necessary to create employment and alleviate pervasive poverty in the land.
Present at the unveiling event were Tope Smart, GMD, NEM Insurance; Olabisi Adekola, ED, Finance, African Alliance; representative of the ED, Fidelity Bank, Dr. Ken Opara; Prof Pat Utomi, Economist and reviewer; Funmi Omo, MD/CEO Enterprise Life, book reviewer, Lolo Amadi, wife of the Author and a host of other personalities