Pension

Nigeria’s Pension Fund Assets Surge To N17.658trn In October 2023

PenCom Recovers N25.13bn Unremitted Pension From Defaulting Employers

National Pension Commission (PenCom) announced on Wednesday that it has recovered N25.13 billion from defaulting employers, with N12.80 billion representing principal contributions and an additional N12.33 billion in penalties for delayed payments.

Emmanuel Ochayi

1 year ago

Lagos Gov Sanwo-olu Under Fire Over ‘N7.5m Fragrance, N18m Christmas Chickens’

Business

Lagos State Government To Clear Pension Backlog By December

The Lagos State government has pledged to clear the lingering backlog of pensions by the end of 2023, ensuring that retirees receive their entitlements promptly. This announcement was made by Mr. Afolabi

Bisina Somto

1 year ago

Nigerian Senators, Minister Dragged To Court For Collecting Salaries With Pensions

The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Senate President, Godswill Akpabio and nine other ex-governors in the 10th Senate over their collection of pensions and salaries

Victor Ezeja

1 year ago

Reps Launch Inquiry To Retrieve N10 Trillion For Pensioners

Business·Finance & Economy·Latest News

Reps To Launch Inquiry To Retrieve N10 Trillion For Pensioners

The House of Representatives has unanimously voted to launch an inquiry into the status of pension funds and take action to retrieve the staggering N10 trillion that was lent to the Federal

Emmanuel Ochayi

1 year ago

Business

PenCom Hits 25 Firms With N666.03m Fine Over Pension Default

The National Pension Commission (PenCom) penalised 25 employers for defaulting on pension remittance, the commission disclosed in its fourth quarter report for 2022. Prime Business Africa gathered that the defaulting firms paid

Fakoyejo Olalekan

2 years ago

9 months Unpaid Pension: House Of Reps Reveals Why Retired Civil Servants Are Yet To Receive Payment

The House of Representatives have stated that it will investigate the Pension Transitional Arrangement Directorate (PTAD) for failure to pay pension to Federal Civil Service retirees. According to the lawmaker, Sergius Ose-Ogun,

Fakoyejo Olalekan

2 years ago

Business

Over 23 Nigerian Companies Fined N295.45 million For Failing To Pay Employees’ Pension

The National Pension Commission (PENCOM) penalised 23 companies for failing to remit its employees pension contributions, as the regulator recovers N422.34 million from the defaulters in First Quarter (Q1) 2022. According to

Fakoyejo Olalekan

3 years ago

Business

Pension Assets Rise By N1.11tn, Hit N13.42tn

Prime Business Africa has gathered that the pension assets under the Contributory Pension Scheme rose by N1.11tn in 2021. This Newspaper obtained the figure from the National Pension Commission’s report released on

PBA Reporter

3 years ago

Business·Finance & Economy

Nigeria Borrows N8.311trillion From Pension Funds, Experts Cry Out

Nigeria’s federal and subnational governments have, so far, borrowed N8.311trillion, representing 63.93% of the N13.001 trillion total pension assets in the country and raising serious concerns among pensioners as well as Nigerian

PBA Reporter and Victor Ezeja

3 years ago

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PenCom Recovers N25.13bn Unremitted Pension From Defaulting Employers

Lagos State Government To Clear Pension Backlog By December

Nigerian Senators, Minister Dragged To Court For Collecting Salaries With Pensions

Reps To Launch Inquiry To Retrieve N10 Trillion For Pensioners

PenCom Hits 25 Firms With N666.03m Fine Over Pension Default

9 months Unpaid Pension: House Of Reps Reveals Why Retired Civil Servants Are Yet To Receive Payment

Over 23 Nigerian Companies Fined N295.45 million For Failing To Pay Employees’ Pension

Pension Assets Rise By N1.11tn, Hit N13.42tn

Nigeria Borrows N8.311trillion From Pension Funds, Experts Cry Out

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