PenCom clears 192 firms for FG’s contract in 2020
In line with its regulatory function, the National Pension Commission (PenCom) has granted approvals to 192 firms for different federal government’s contract in 2020
The approval according to PenCom was sequel to the firm’s compliance with regulations on employees contributions.
PenCom granted certificate of compliance to AIICO Insurance Plc and 190 firms, which now makes them eligible to seek contracts from the federal government in 2020.
The pension law requires firms to contribute a certain percentage to match up with the employees’ contribution for retirement savings and Up-to-date contribution is required from companies to meet PenCom’s requirements to qualify for government contracts
The regulatory agency published the list on its website while noting that some firms from different sectors of the economy including AIICO Insurance Plc which contributed N154.47 million for 291 employees in 2019 have been approved.
Others are Setraco Nigeria Limited which contributed N566.70 million for 3733 employees, Chapel Hill Denham Advisory Limited, contributed N156.62 million for 13 employees; Chapel Hill.
Denham Advisory partners, N33.65 million, for 37 employees and Jully and Partners Insurance brokers, N1.40 million for five employees”
