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Pension Board Seeks Recovery of N1.3bn Debt From Newspapers

W. Syaban

May 04, 2025

The National Pension Commission has initiated efforts to reclaim more than N1.3 billion in outstanding pension payments from newspapers nationwide for their journalistic staff.

The revelation came from PenCom’s Director-General, Ms Omolola Oloworaran, during her official tour at the Nigerian Press Council headquarters in Abuja.

Oloworaran lamented the extensive disregard for the Pension Reform Act 2014 (PRA 2014) within media organizations, where numerous entities have not transferred mandatory pension deductions into their staff’s Retirement Savings Accounts.

“As an exemplar, the media should set the standard. Journalists ought to have the opportunity to retire with honor,” Oloworaran emphasized.

She stressed that making pension contributions is both a legal and ethical duty that ought not to be overlooked.

Oloworaran states that under PRA 2014, employers are required to transfer monthly pension payments within seven days following salary disbursements.

The PenCom DG disclosed that numerous media organizations are severely violating this regulation.

Consequently, Recovery Agents have been tasked with examining the accounts of delinquent clients, assessing their unpaid debts, and applying relevant fines.

In a significant step forward, PenCom along with the Nigerian Press Council has established a collaborative task force aimed at enforcing regulations and hastening adherence within the media industry. This marks the first concerted effort of this kind directed specifically towards journalistic organizations.

At the event, Dr. Dili Ezughah, the Executive Secretary of the Nigerian Press Council, expressed complete backing and promised to mobilize important parties such as the Nigeria Union of Journalists and the Nigerian Guild of Editors to tackle the problem directly.

This goes beyond mere policies; it concerns the well-being and future of journalists in this nation," Ezughah stated. "This advancement marks a critical juncture in ensuring the financial stability of Nigerian reporters, numerous individuals who confront uncertainties during their retirement because of their employers' neglect.

Provided by Syndigate Media Inc. ( Syndigate.info ).

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