The National Pension Commission (PenCom) on Thursday said it had issued over 38,000 Pension Clearance Certificates (PCC) so far to organisations, in 2024.

The Director-General of PenCom, Ms Omolola Oloworaran, said this at a workshop organised by PenCom for journalists covering the pension industry in Lagos.

The theme of the workshop was,  “Tech-Driven Transformation: Shaping the Pension Landscape”.

Report says that in 2023, PenCom issued 30,293 PCCs to firms.

PCC is an evidence of compliance with the Pension Act.

it serves as a prerequisite for all suppliers, contractors, or consultants soliciting contract or business from Ministries, Departmentss, and Agencies  (MDAs)  of the  Federal  Government.

PenCom commenced the issuance of PCC to organisations in 2012 in line with the Pension Reform Act,  (PRA), which mandates all organisations with at least three employees to participate in the Contributory Pension Scheme (CPS).

However, the certificate  is valid up to Dec. 31 of the year it was obtained, irrespective of the date it was issued within the year.

Organisations are, thus,  required to apply for new PCC’s each year.

Oloworaran said that the commission also achieved a major milestone with the launch of the e-Application Portal for the PPC in October.

She said that the initiative replaced the previous manual process, enabling companies to seamlessly apply for and receive PCCs online, significantly enhancing ease of doing business and ensuring compliance.

The director-general said that the Pension Industry Shared Service Initiative is in an  advanced stage of implementation.

She said that the initiative would digitise pension contributions and remittances, ensuring seamless processing of contributions and resolving discrepancies caused by incomplete remittance details.

“To further enhance contributors’ experiences, we have introduced a revised programme withdrawal template, simplifying access to voluntary contributions and revising the threshold for en-bloc payments in line with the new minimum wage.

“These measures are designed to make retirement processes more efficient and user-centric.

“But beyond policies and systems, what really excites me is the potential to transform lives,”she said.

According to her, technology has become the backbone of transformation across all sectors, and the pension industry is no exception, hence PenCom has embraced the transformation wholeheartedly.

Oloworaran said that there are over 10.5 million contributors, while pension assets are in excess of N21.9 trillion as at October.

She said that this progress demonstrated the strength of the CPS,  though not without challenges.

“Inflation, for instance, continues to erode the purchasing power of pensioners, and we are actively seeking innovative solutions to address this issue.

“We also continue to face the persistent issue of delays in the payment of accrued rights.

“Recently, N44 billion was approved under the 2024 budget appropriation to settle accrued pension rights for retirees from March to September 2023.

“Moving forward, we are working with the Federal Government to put in place a sustainable solution that ensures that retirees receive their benefits promptly and without undue stress,” she said.

She said that since assuming office, she  and her team had been focused on strengthening compliance, enhancing service delivery, diversifying pension assets to optimising returns.

She said that they had also been improving benefits and expanding coverage to include more Nigerians, especially those in the informal sector.

Oloworaran expressed passion over the micro-pension initiative, in particular, noting that it is the commission’s way of fostering financial inclusion, no matter how small an earning might be.

She said that the commission intended to use technology to scale the micro-pension plan.

“Technology plays a vital role in driving this inclusion from mobile enrollment to real-time account management,” she said.

She said that PenCom planned to rebrand the micro-pension scheme, and also target onboarding not less than 20 million Nigerians in the informal sector.

Oloworaran acknowledged the role of the media as stakeholders in the success of the pension system.

“As we integrate technology across every aspect of the pension industry, we are paving the way for a future where the CPS becomes more accessible, reliable, and sustainable.

“However, this transformation cannot succeed without your unwavering support as media practitioners.

“Your role in amplifying our initiatives and educating stakeholders across Nigeria is essential to achieving this vision,” she  said.

She  described the ability of  the  media  to inform, educate, and hold institutions  accountable as invaluable.

“Together, we can ensure that every Nigerian, including the most vulnerable, has access to a secure and dignified retirement,” she  said.(NAN)

The price of de-stoned local rice has dropped marginally by between six and 10 per cent in Enugu markets, causing many residents to shift patronage to the brand.

Report says that dealers in the commodity attributed the positive development to the harvest season for local rice.

A trader at the popular Ogbete Main Market, Mrs Rose Nwakwo, said that a 50-kg bag now goes for N78,000 as against N84,000 in November.

Another dealer at Garki Market, Enugu, Mr Chidi Orji, said that a five liter paint container goes for N6,500 as against N7,500.

Orji urged the residents to buy as much as they could before the price would shoot up again.

Daily Asset also observed that most rice retailers and hawkers, who sell in cups and bushels, are currently stockpiling the commodity.

Mrs Eunice Madu, a grain seller in Mayor Market, said that she was only stocking bags of the brand for the Yuletide.

“I must confess we are selling out almost all our available bags of de-stoned local rice, popularly known as ‘Abakaliki rice’, ahead of the Yuletide.

“Most people are turning to it due to its price drop and improved processing and de-stoning qualities,” she said.

Meanwhile, a buyer, Mr Edwin Okoh, expressed joy over the price drop, saying that his salary could get him more than a 50-kg of the brand for his family.

“It is a thing of joy that the price has gone down to some extent, at least I can get more than a bag for me and my extended family during this Yuletide,” he said. (NAN)

The Nigeria Association of the Blind (NAB) has called for increased budgetary allocation to improve
access to information and education materials for visually-impaired persons, in line with the Marakesh Treaty.

The association made the call on Thursday in Abuja at a two-day stakeholders’ meeting on the status of the implementation of the Marakesh Treaty
in Nigeria.

Report says that the Marrakesh Treaty was adopted on June 27, 2013 in Marrakesh, Morocco, to form part
of the international copyright treaties administered by the World Intellectual Property Organisation (WIPO).

The goal of the treaty is to create a set of mandatory limitations and exceptions for the benefit of the blind, visually impaired, and otherwise print
disabled (VIPs).

It is also to ensure that books are made available globally in accessible formats, such as Braille, audio and large print, and DAISY1 formats, as well as

facilitate access to published works for persons who are blind, visually impaired, or otherwise print disabled.

The former President of NAB, Dr Ishaku Adamu, therefore, explained that the treaty is an agreement signed by the Federal Government
to improve access to published works for people with print disabilities.

Adamu added that the treaty seeks to remove all legislative barriers that prevent access to those materials, whether across national and
international borders, which Nigeria has domesticated and ratified.

He, however, said that less than one per cent of national budget was allocated for the provision of accessible education materials for visually impaired students.

According to him, poor implementation of the treaty has further affected access to education, level of participation and exclusion from information for visually impaired persons.

He said “we should be able to engage these agencies to set aside certain percentage of their budget, Federal Ministry of Education and other key ministries to ensure that those books are being provided in accessible format.

“Less than one per cent of such materials is accessible to our people, affecting the level of our education, the level of our participation and other things.

“So, it is very critical for us to engage because we know that government is budgeting, but we want to know what they can do to ensure our people have access to these materials.”

He said the stakeholders meeting was to strategise on improved access to information not only in braille, but also in soft copy, audio, large print and other version, media space, as well as employment opportunities for visually impaired persons.

Earlier, the NAB President, Mr Stanley Onyebuchi, said the engagement would enable stakeholders to review the implementation of the Marakesh treaty and proffer action plans that would enhance implementation.

Onyebuchi said “this treaty is key to those of us that are print disabled, that is those of us that are blind to access publications that will enhance our education, research and others.”

On the implementation of the treaty, he said “I don’t think Nigeria has gone far in implementing this treaty because some of the websites of many organisations, even the government agencies, are not even accessible.

“Although the Nigerian Copyright Commission has done a lot and has been part of this struggle for the domestication of this treaty in Nigeria, other government agencies have not done much
in that regard.”

Also, Mr Abdrahman Auwal, the National PRO of NBA, stressed the need to create awareness about the importance of the treaty.

He said “a lot of people don’t even know about it, so, a lot of publishers are there and still stick to their previous copyright law, not knowing that it has been amended.

“We need the media to propagate this in the news to stimulate questions and people will learn about it, which will all be transformed.”

Dr David Okon, a resource person and Consultant, said the meeting was to ensure full implementation of the treaty for the benefit of persons with reading disabilities.

Okon, who is the Executive Director, Total Inclusion, an NGO said “knowledge is acquired through information. And if we are not going to be informed, we are deprived of information, then it means we are deprived of knowledge.

“It also means that we are deprived of literacy and the power to make wealth, power to recreate ourselves and other things.”

Report says that in attendance at the stakeholders meeting were representatives of various disability groups, NGOs, CSOs, among others, to suggest ways toward
full implementation of the Marakesh Treaty.(NAN)