Tuesday, March 3, 2026
27.6 C
Lagos

Business

Tinubu Hails Nigeria-UAE Partnership as BUA Signs MoU with Abu Dhabi Ports, Mair Group

President Bola Ahmed Tinubu has commended the signing of...

Tinubu Hails BOI on N636bn Loan Disbursement to Businesses in 2025

President Bola Ahmed Tinubu has commended the Bank of...

Reputation Economy: How Nigerian Brands Won, Lost Public Trust in 2025

P + Measurement Services, Nigeria’s leading independent media intelligence...

UAC Records Revenue Surge, Profit Impacted by One-Off Acquisition-Related Costs

UAC of Nigeria Plc has announced its unaudited financial...

Repton Group Wins 2025 Dangote Cement Largest Distributor Award

…in Nigeria, Sub-Saharan Africa By Goke Ilesanmi L-R: Alhaji Aliko...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX RegCo Issues Advisory on Recent Price Movements, Urges Informed Trading

NGX Regulation Limited (NGX RegCo), the independent regulatory arm...

Stanbic IBTC Nominees Celebrates 30 Years of Trust with Landmark Gala Event

Stanbic IBTC Nominees Limited marked a significant milestone on...

NGX GMD, Temi Popoola, Seeks Collaborative Alignment to Drive Sustainable Capital at IFC Confab

Temi Popoola, Group Managing Director and Chief Executive Officer...

AI: Powerful Tool for Economic Growth in Africa-NGX Chair, Umaru Kwairanga

 KEYNOTE SPEECH BY THE CHAIRMAN OF THE NIGERIA EXCHANGE...

Transcorp, DMO, MTN, Dangote Cement, CardinalStone, among Winners at NGX Made of Africa Awards

Transnational Corporation Plc, the Debt Management Office, CardinalStone, Chapel...

Insurance

AIICO 2026 Agency Retreat Honours Outstanding Sales Champions

Mrs. Ego Uzochukwu (Award Winner, centre); flanked on her...

Sovereign Trust Insurance Spreads Love with Fire Safety Drive

On Valentine's Day, Sovereign Trust Insurance Plc showed its...

Mutual Benefits Begins 2026 with ₦5.9bn January Claims Settlement

Mutual Benefits Assurance Plc, a leading Nigerian insurance company,...

Love That Protects: AIICO Takes Valentine’s Message to the Streets

In a vibrant twist to this year’s Valentine’s Day...

Business

Tinubu Hails Nigeria-UAE Partnership as BUA Signs MoU with Abu Dhabi Ports, Mair Group

President Bola Ahmed Tinubu has commended the signing of...

Tinubu Hails BOI on N636bn Loan Disbursement to Businesses in 2025

President Bola Ahmed Tinubu has commended the Bank of...

Reputation Economy: How Nigerian Brands Won, Lost Public Trust in 2025

P + Measurement Services, Nigeria’s leading independent media intelligence...

UAC Records Revenue Surge, Profit Impacted by One-Off Acquisition-Related Costs

UAC of Nigeria Plc has announced its unaudited financial...

Repton Group Wins 2025 Dangote Cement Largest Distributor Award

…in Nigeria, Sub-Saharan Africa By Goke Ilesanmi L-R: Alhaji Aliko...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX RegCo Issues Advisory on Recent Price Movements, Urges Informed Trading

NGX Regulation Limited (NGX RegCo), the independent regulatory arm...

Stanbic IBTC Nominees Celebrates 30 Years of Trust with Landmark Gala Event

Stanbic IBTC Nominees Limited marked a significant milestone on...

NGX GMD, Temi Popoola, Seeks Collaborative Alignment to Drive Sustainable Capital at IFC Confab

Temi Popoola, Group Managing Director and Chief Executive Officer...

AI: Powerful Tool for Economic Growth in Africa-NGX Chair, Umaru Kwairanga

 KEYNOTE SPEECH BY THE CHAIRMAN OF THE NIGERIA EXCHANGE...

Transcorp, DMO, MTN, Dangote Cement, CardinalStone, among Winners at NGX Made of Africa Awards

Transnational Corporation Plc, the Debt Management Office, CardinalStone, Chapel...

Insurance

AIICO 2026 Agency Retreat Honours Outstanding Sales Champions

Mrs. Ego Uzochukwu (Award Winner, centre); flanked on her...

Sovereign Trust Insurance Spreads Love with Fire Safety Drive

On Valentine's Day, Sovereign Trust Insurance Plc showed its...

Mutual Benefits Begins 2026 with ₦5.9bn January Claims Settlement

Mutual Benefits Assurance Plc, a leading Nigerian insurance company,...

Love That Protects: AIICO Takes Valentine’s Message to the Streets

In a vibrant twist to this year’s Valentine’s Day...

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.

Hot this week

NCDMB: Remittance of 1% Nigerian Content Levy Still Mandatory

The Nigerian Content Development and Monitoring Board (NCDMB) on...

NCDMB Builds Capacity in Health Sector, Donates Hi-tech Equipment, Simulators to Bayelsa Medical University

A state-of-the-art Clinical Skills and Simulation Laboratory, fully equipped...

NCDMB Holds Lagos Midstream Workshop, Charges Operators on Compliance, New Policies

The Nigerian Content Development and Monitoring Board (NCDMB) has...

Stanbic IBTC Bank Nigeria PMI: New Orders Return to Growth, Inflation Eases to Lowest in Six Years

The Nigerian private sector returned to growth in February,...

Topics

NCC Lists Reasons for Stringent SIM Card Processes

The Nigerian Communications Commission (NCC) has again explained to...

NCC, NIRSAL, NCDMB, NNPC, NLNG to Lead Partners @GOCOP Conference

The sixth annual conference of the Guild of Corporate...

Guild of Editors Demands Special Protection for Journalists Covering Covid-19 Pandemic

  On the occasion of this year’s World Press Freedom...

Non-payment of Salaries: Matters Arising

At first, it was a rumour. Then, the rumor became stronger. And then, the rumour became political allegation that the federal and state governments could no longer pay salaries because public funds were deployed by the two major political parties to prosecute the 2015 general elections. Today, the situation has become a national embarrassment that Nigeria cannot pay its civil servants-from federal government to state governments. While actual figures of the total indebtedness at the federal and state levels is difficult to ascertain, various media reports quoted N110 billion as the total sum due to the unfortunate government employees.

Staco Insurance Denies Allegations of Market Infractions

Staco Insurance Plc has firmly denied allegations of market...

Chain Reactions Africa Clinches 4 Trophies at Brandcom 2024 Awards

L-R: Publisher, Brand Communicator Magazine, Organisers of the Brandcom...

NDIC CEO’s Courtesy Visit to Gombe State Governor

MD/CE of NDIC, Bello Hassan (2nd left) presenting NDIC...

Nigeria, SA, Kenya Lead M & A Deals in Africa

After several years of steadily increasing M&A activity, African...
Exit mobile version