PenCom Clears 24,516 Firms To Bid Govt Contracts

No fewer than 24,516 companies have been issued pension clearance certificates and cleared by the National Pension Commission (PenCom) to bid for federal government contracts in 2023.

Although this figure is at 14th of August 2023, there are indications that the number could rise to about 30,000 by year end as the pension industry regulatory body, on a monthly basis, adds up to this list.

The current figure is just 2,040 companies less than 26,556 firms granted pension clearance in 2022 while 25,841 companies were issued similar licences in 2021.

LEADERSHIP learnt that issuance of the certificate is in compliance with the Pension Reforms Act (PRA) 2014, meant to deepen pension acceptance in both public and private sectors as well as encourage life insurance coverage for workers across the country.

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Hence, with the certificates, the companies, by law, are now eligible to pursue government contracts within their areas of operations.

LEADERSHIP findings revealed that any company who wish to get pension clearance certificate, must submit to PenCom, documents containing full list of its employees, evidence of remitting 10 per cent employers’  monthly pension contribution portion and eight per cent employees’ portion, making a total of 18 per cent monthly pension contributions as well as present three years of prompt monthly remittance of Pension of workers, precisely from 2020 to 2022, while there must be evidence of group life insurance coverage for workers, among others requirements.

Some of the complying companies include: 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 so on.

Others were: 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.