In a significant development, a total of 24,516 companies have been granted pension clearance certificates by the National Pension Commission (PenCom) in 2023. This endorsement qualifies these companies to participate in bidding for federal government contracts.
The current count, accurate as of August 14th, 2023, is projected to rise to approximately 30,000 by the end of the year. This anticipated increase is attributed to PenCom’s monthly additions to the list, aligning with the regulatory body’s efforts to streamline pension-related processes.
Comparatively, this year’s figure is a mere 2,040 companies fewer than the 26,556 entities that secured pension clearance in 2022. Likewise, 25,841 companies were granted similar licenses in the preceding year, 2021.
Sources have revealed that the issuance of these certificates adheres to the Pension Reforms Act (PRA) of 2014. The PRA is designed to cultivate wider pension integration across both public and private sectors while also incentivizing life insurance coverage for workers nationwide.
Armed with these certificates, these companies are now legally empowered to actively pursue government contracts within their specific operational domains.
Investigations have unearthed the prerequisites for obtaining a pension clearance certificate. Companies interested in acquiring one must submit comprehensive documentation including a complete list of employees, substantiation of consistent remittance of 10 per cent employer-contributed monthly pension funds and 8 per cent employee-contributed funds—totaling 18 per cent in monthly pension contributions. Furthermore, they must demonstrate a three-year history of punctual monthly pension remittances for workers, spanning from 2020 to 2022. Evidence of group life insurance coverage for employees is also mandatory.
Among the businesses aligning with these requirements are notable companies such as Westwood Lake Ltd, Gokly Oil And Gas Services Limited, Lington Premier Solutions Limited, Fan-Mai Buildings Limited, A.A.M. Ayo Ltd, Maina Modu Nigeria Ltd, Pescom De Log Investment Ltd, I’hyokome and Sila-Nekeme Investment Limited, Bewa Construction & Services Limited, and many more.
Additional enterprises on the list include Prodvengers Nigeria Limited, Manteca Technologies Limited, Neacon Environmental Solutions Limited, Blue Field Projects Limited, Oyom & Co, Alibama Mavrick Concept Ltd, Oasis Management Company Limited, Gimalex Global Agency Limited, Mumtaz Limited, Crownhill Integrated Medical Ltd, Ellehcim Noa Ltd, Aegis Contractor Limited, Emerald Protocol Services Ltd, Heaven’s Gate Engineering & Construction Ltd, Pachary Engineering Limited, Lmc Insurance Brokers Limited, among others.
