TEXAS MAN ARRESTED WITH 75 POUNDS OF MARIJUANA IN LUGGAGE WHILE FLYING TO LONDON, POLICE SAY. (PHOTO).

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 Texas man arrested with 75 pounds of marijuana in luggage while flying to London, police say A Texas man was arrested at Miami International Airport after authorities found 75 pounds of marijuana in his luggage before he could board a flight to London. Harrison O’Neill Tiernan, 23, from Austin, was charged with cannabis trafficking. He was traveling to Heathrow Airport and had checked two suitcases for his British Airways flight. Inspectors discovered 65 vacuum-sealed packages containing a green, leafy substance later confirmed to be marijuana. U.S. Customs and Border Protection officers stopped Tiernan while he attempted to board the flight, and he acknowledged that the bags were his. Authorities noted the inspections were part of broader efforts at the airport due to high outbound narcotics activity. In total, Tiernan was carrying 34.01 kilograms, or 74.98 pounds, of marijuana. Homeland Security initially declined the case because the amount did not meet the federal threshold, a...
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RECOVER N10TRN PENSION FUND FROM FG- REPS DIRECT PENCOM. (PHOTO).

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Recover N10trn Pension Fund From FG - Reps Direct PenCom

House of Representatives has directed the National Pension Commission (PenCom) to recover the N10 trillion loan given to the Federal Government from the nation’s pension fund.

The House also resolved to investigate the status of pension fund assets of over N15.5trillion to ensure recovery of the loan. 

Adopting a motion by a member from Bauchi state, Aliyu Bappa-Misau, the House urged pension regulators to scrutinize the failure of Pension Fund Administrators (PFAs) in fulfilling their obligations on Retirement Saving Accounts.

The lawmaker stated that the Retirement Saving Accounts (RSAs) is the lifeline that pensioners rely upon to cater for their needs on retirement.

He expressed concern that most pensioners are unable to access their retirement funds, despite complying with the requirements of the scheme. 

The Lawmaker added that the inability of pensioners to access their pension has caused untold hardship to them, making it difficult for them to afford basic necessities.

“Neither the PenCom nor the PFAs have been able to reassure pensioners of getting their entitlements without stress. Modalities should be put in place to prevent a collapse of the scheme.

“The pension fund assets, which PenCom regulates, being the proceeds of the Contributory Pension Scheme and returns on investment, stood at more than 15.5trillion as at the close of the first quarter of 2023.

He said critical stakeholders have expressed concern that 65% of the pension funds (N10 trillion) loaned to the Federal Government was an investment which has exposed the contributors to unnecessary volatility.

According to him, the Federal Government may fail to pay back the loan in due time.

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