• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, July 9, 2026
Leadership Newspapers
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
Hausa Edition
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

FG Mulls N30bn Annual Gratuity For Civil Servants

LEADERSHIP News by LEADERSHIP News
1 year ago
in Business
nigeria youth jpg
Share on WhatsAppShare on FacebookShare on XTelegram

The federal government is considering the introduction of an annual gratuity payment estimated at N30 billion for civil servants in treasury-funded Ministries, Departments, and Agencies (MDAs), under a new framework being developed by the National Pension Commission (PenCom) in collaboration with the Office of the Head of the Civil Service of the Federation (OHCSF).

The proposed gratuity scheme, which will benefit retirees under the Contributory Pension Scheme (CPS), was disclosed during a high-level meeting in Abuja on June 13, 2025.

The director general of PenCom, Ms. Omolola Oloworaran, announced the plan while on a courtesy visit to the Head of the Civil Service of the Federation, Didi Esther Walson-Jack, according to a statement that was issued by PenCom on Tuesday.

Oloworaran said PenCom is working out modalities for the establishment of the scheme in accordance with Section 4(4)(a) of the Pension Reform Act (PRA) 2014.

The estimated cost of N30 billion annually, she explained, was based on the calculation of 100 per cent of the last gross annual remuneration of retiring federal employees—a figure confirmed by the 2024 Stakeholders Committee on outstanding pension liabilities.

RELATED NEWS

JUST IN: 2024 Bid Round: NUPRC Awards 19 Oil Prospecting Licences To 12 Winners

PenCom Targets Deeper Capital Market Role As Pension Assets Hit N31.32trn

Global Oil Companies Heading For Higher Revenue Earnings In Q2, 2026

She described the initiative as “a modest but impactful intervention” aimed at improving the welfare of retirees who have served the nation with dedication.

The PenCom boss also addressed the longstanding issue of delays in pension payments due to accrued rights liabilities. She recalled earlier progress achieved through collaboration with the OHCSF, which included securing a Federal Executive Council (FEC) approval for a N758 billion bond to settle outstanding liabilities.

In a bid to further address these issues, Oloworaran unveiled a one-time comprehensive online enrolment exercise, scheduled for August 2025. The exercise will help determine the accrued pension rights liabilities of all federal employees in service before June 2004. According to her, this will pave the way for PenCom to present the actual liability to the federal government, with the goal of raising a bond to clear it once and for all.

Each eligible civil servant’s accrued pension rights will be credited into their Retirement Savings Accounts (RSAs), allowing them to begin earning returns on the funds immediately. This system, she noted, would insulate pension administration from political changes as Pension Fund Administrators (PFAs) would assume full management control.

Oloworaran also revealed that PenCom is developing a digital application to streamline the enrolment process. The application is expected to be deployed alongside the August exercise, and she called for the OHCSF’s support in issuing a directive mandating all MDAs to participate and submit the required documentation.

To tackle the challenge of uncredited pension contributions, especially among MDAs not enrolled on the Integrated Payroll and Personnel Information System (IPPIS), the PenCom DG disclosed that a new Pension Contribution Remittance System has been introduced. It requires the use of approved Payment Solution Support Providers (PSSPs) to ensure proper remittance of contributions into employees’ RSAs.

She urged the Head of the Civil Service to issue directives to the IPPIS Office in the Office of the Accountant General of the Federation (OAGF), as well as to tertiary institutions and other non-IPPIS MDAs, to adopt the new remittance approach starting from June 2025.

Responding, Walson-Jack commended PenCom for its forward-thinking initiatives and pledged her full support for the proposed reforms. She acknowledged that the introduction of a gratuity scheme aligns with the aspirations of civil servants and promised to issue the necessary circulars to facilitate implementation.

Both PenCom and the OHCSF also agreed to establish a Standing Committee to drive the proposed reforms, develop modalities for implementation, and proactively address any emerging issues.

We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

LEADERSHIP News

LEADERSHIP News

OTHER NEWS UPDATES

JUST IN: 2024 Bid Round: NUPRC Awards 19 Oil Prospecting Licences To 12 Winners
Business

JUST IN: 2024 Bid Round: NUPRC Awards 19 Oil Prospecting Licences To 12 Winners

13 hours ago
Business

PenCom Targets Deeper Capital Market Role As Pension Assets Hit N31.32trn

14 hours ago
Global Oil Companies Heading For Higher Revenue Earnings In Q2, 2026
Business

Global Oil Companies Heading For Higher Revenue Earnings In Q2, 2026

14 hours ago
Next Post
NAMA Mulls Review Of Navigational Charges, Laments Air Traffic Controllers’  Absence

NAMA Conducts Aircraft Emergency Exercise In Lagos

Advertisement

LATEST UPDATE

Fear Of Abuse Shouldn’t Stall State Police, Says Gov Alia

7 minutes ago

Senate Confirms Zainab Marwa As NDDC Board Member

10 minutes ago

Meta Unveils Muse Image, AI Tool That Turns Ideas Into Visuals

10 minutes ago

Association Recommits To Peace, Responsible Media

12 minutes ago

Federal Govt Vows To Dismantle Drug Cartels As NDLEA Arrests 29,262 Suspects

14 minutes ago
Load More
Advertisement
Facebook Twitter Instagram Youtube Whatsapp

© 2026 LEADERSHIP Media Group - All Rights Reserved | Hausa | Online Casino.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2026 LEADERSHIP Media Group - All Rights Reserved | Hausa | Online Casino.