- The Federal Government has released a long list of companies that are qualified to apply for government contracts
- The license is, however, not forever and has an expiry date of a few months, ending December 2023
- The companies that made the list were based on compliance with employee pensions and insurance payments
A total of 24,516 companies have obtained their pension clearance certificates from the National Pension Commission (PenCom).
With the certificates, the companies, by law, are now eligible to pursue government contracts within their areas of operations.
Photo credit: PenCom
Source: UGC
PenCom disclosed the names in an updated document published on its website on Monday, August 14, 2023.
The document titled a list of organisations issued pension compliance certificates in 2023 is expected to have more names added before the end of the year.
PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!
With 24,516 names already approved as of August 2023, the list for 2023 is expected to exceed the number of firms approved in 2022 (26,556) and 2021 (25,841).
What the law says about pension certificates
According to the National Pension Act’s laws, a company must have passed the minimum requirement of opening a pension account and life insurance cover for a company to qualify for the certificate.
It stated that companies without insurance coverage for their workers would not be allowed to do government business.
PenCom believes that with the regulation, companies would ensure appropriate pension accounts for their workers.
Some of the companies on the list
- Group One Dimension Limited
- Quicka Nigeria Limited
- Ramussal International Limited
- Jaiz Takaful Insurance Plc
- Premium Times Services Limited
- Triacta (Nigeria) Limited
- Oye Abioye Quaye and Co
- Yabesa Limited
- Sao Associates
- Sunlee Nig Ltd
- Setraco (Nigeria) Limited
- Insurance Brokers Of Nigeria Limited
- Jaiz Bank Plc
A complete list of 24,516 companies can be downloaded here.
Nigerian workers rank as world’s 2nd most hardworking
Meanwhile, in another report, Nigerian workers have been rated as the second most hardworking people, with an average of 2,124 hours spent a year
Nigerian workers’ time in the office surpassed the global average of 44.1 hours per week.
Despite the time spent, Nigerian workers’ minimum wage is far less than in most African countries.
Source: Legit.ng
