PenCom to recover N1.3bn pension debt from newspapers
CHIGOZIE AMADI
The National Pension Commission has commenced moves to recover over N1.3bn in unpaid pension contributions owed to journalists by newspaper organisations across the country.
This was disclosed by the Director-General of PenCom, Ms Omolola Oloworaran, during a high-level visit to the Nigerian Press Council in Abuja.
Oloworaran decried the widespread non-compliance with the Pension Reform Act 2014 (PRA 2014) among media establishments, many of which have failed to remit statutory pension deductions into their employees’ Retirement Savings Accounts.
“The media must lead by example. Journalists deserve to retire with dignity,” Oloworaran stated.
She emphasised that pension contributions are a legal and moral obligation that should not be ignored.
According to Oloworaran, PRA 2014 mandates that employers remit monthly pension contributions no later than seven days after paying salaries.
However, the PenCom DG revealed that many media houses are in gross violation of this law.
As a result, Recovery Agents have been assigned to audit the accounts of defaulters, determine outstanding liabilities, and impose applicable penalties.
In a landmark move, PenCom and the Nigerian Press Council have formed a joint working group to drive enforcement and push for urgent compliance within the media sector, marking the first time such a focused initiative has targeted journalism institutions.
Speaking at the event, the Executive Secretary of the Nigerian Press Council, Dr Dili Ezughah, pledged full support, vowing to rally key stakeholders, including the Nigeria Union of Journalists and the Nigerian Guild of Editors, to confront the issue head-on.
“This is not just about policy, it’s about the welfare and future of journalists in this country,” Ezughah said. “The development signals a turning point in the effort to secure the financial security of Nigerian journalists, many of whom face uncertainty in retirement due to employers’ negligence.”
