Saturday, October 18, 2025
23.5 C
Lagos

PenCom to Newspaper Owners: Clear N720m Pension Debt

From Left: The Director General of the National Pension Commission, Ms. Omolola Oloworaran and the President, Newspaper Proprietors’ Association of Nigeria (NPAN), Mr. Kabiru Yusuf during a recent visit to the President of NPAN.

The Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, has raised alarm over widespread non-compliance with the Pension Reform Act (PRA) 2014 by media organisations in Nigeria, revealing that newspaper owners owe journalists over N720 million unpaid pension contributions.

Speaking during a courtesy visit to the President of the Newspaper Proprietors’ Association of Nigeria (NPAN), Mr. Kabiru Yusuf, in Abuja on Monday, Ms. Oloworaran described the findings as “very troubling” and called for urgent collaboration between PenCom and newspaper proprietors to enforce compliance across the sector.

PenCom acknowledged the deep value of the role of the media in shaping public discourse, and said it is disheartening that many organisations within the media are failing to meet a fundamental obligation to their employees.

The Director General said PRA 2014 mandates all employers to remit pension contributions for their employees monthly, within seven days of salary payment. However, she said PenCom’s investigations show that many newspaper houses have ignored this obligation, with arrears totalling over N720 milliiaon.

Ms. Oloworaran told NPAN that PenCom is not seeking to penalise erring organisations at this stage but prefers a collaborative approach to achieving sector-wide compliance. She added that PenCom has been engaging employers across industries and recently held discussions with the Nigerian Press Council (NPC) to drive awareness and compliance in newspaper organisations.

While noting the overall poor compliance within the industry, the DG singled out Daily Trust for commendation, describing the paper as a “leading example” for consistently meeting its pension obligations since 2015.

Responding, NPAN President, Kabiru Yusuf, acknowledged the pension compliance issues in newspaper organisations in Nigeria but urged PenCom to understand the dire financial situation of the media industry.

NPAN President said the reality is that many newspapers in Nigeria are struggling to even pay staff salaries, let alone pension contributions, adding that only a few are managing to stay afloat, and even among them, there is often reluctance to part with money for statutory payments like tax and pensions.

He welcomed PenCom’s engagement efforts and proposed a broader industry dialogue through the Nigerian Press Organisation (NPO), a coalition that includes NPAN, the Nigerian Guild of Editors (NGE), and the Nigeria Union of Journalists (NUJ).

Yusuf suggested that PenCom participate in an expanded meeting of stakeholders in Lagos this year, where the challenges of compliance and potential solutions can be jointly addressed.

Oloworaran agreed to the proposal, expressing hope that such a forum would serve as a meaningful step toward sustainable pension reform compliance in the media.

“We are not focused on being punitive because the law allows us to sanction. That is not what we are looking at. I believe we can work together to get all these media houses to make the necessary contributions towards the financial security of their workers,” the DG said.

The meeting marked a renewed effort by PenCom to hold employers in the media sector accountable and compliant with the PRA 2014.

spot_img
spot_img
spot_img

Hot this week

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Stanbic IBTC Bank, LOXEA BYD forge alliance for Electric Vehicle Financing

In a strategic move to advance Nigeria’s shift toward...

CBN, Bank of Angola Sign MoU on Technical Co-operation at IMF/World Bank Meeting

In an effort to enhance bilateral cooperation and technical...

NBS: Nigeria’s Inflation Falls to 18.02% in September, Lowest Level in Three Years

Nigeria’s headline inflation rate fell for the sixth consecutive...

NUPEMCO Marks 2025 CSW with Nationwide Pension Awareness Activities, Huawei-Supported National Essay competition

The Nigerian University Pension Management Company (NUPEMCO) celebrated the...

Topics

CBN, NDIC Re-affirm Commitment to Financial System Stability

The Governor of the Central Bank of Nigeria (CBN),...

Equities Market Opens H2:2018 in the Red… NSE ASI down 0.9%

Profit taking in market bellwethers dragged the performance of...

NCC, NAICOM, SEC, PenCom, Others for SUPERNEWS Conference April 27

SUPERNEWS Nigeria will on Thursday, April 27, 2023 bring...

Stanbic IBTC Pension Managers’ FUZE 3.0 Festival: Set to Light up Lagos on Dec 21

In a spectacular celebration of Nigerian creativity and innovation,...

Dettol Nigeria Support Better Hygiene During Breastfeeding

The World’s leading consumer health and hygiene company, Reckitt...

BudgIT Condemns Abia, Ondo, Taraba States for Owing Civil Servants

Governor Okezie Ikpeazu of Abia State BudgIT, a foremost civic-tech...

Linkage Assurance Unveils Budget-Friendly Third-Party Motor Insurance

In response to the evolving needs of Nigerian motorists,...

Marriott Completes Starwood Acquisition, Creating World’s Largest Hotel Group

Marriott International, Inc. has completed its acquisition of Starwood...
spot_img

Related Articles

Popular Categories

spot_imgspot_img