The National Pension Commission has revealed that newspaper organisations are owing over ₦1.3 billion in unpaid pension contributions to their journalists.
This was disclosed by the Director General of PenCom, Ms. Omolola Oloworaran, during a visit to the Nigerian Press Council in Abuja, where she led a delegation to discuss the troubling issue.
Oloworaran highlighted significant concerns about widespread noncompliance with the Pension Reform Act 2014 (PRA 2014) in media outlets, which she described as unacceptable.
Consequently, PenCom and the Nigerian Press Council have entered into a strategic collaboration to compel newspaper organisations to settle the enormous pension liabilities owed to their employees.
The PRA 2014 mandates that employers must remit monthly pension contributions into employees’ Retirement Savings Accounts (RSAs) no later than seven days after salary payments.
However, according to the PenCom boss, many media houses have failed to meet this obligation, forcing the Commission to assign Recovery Agents to audit and determine the outstanding debts and penalties.
Oloworaran, who has recently intensified efforts to recover unpaid pensions through partnerships with various regulatory bodies, noted that the focus on the media sector marks a major shift, as it is the first time such a high-level engagement is being directed towards the industry.
She emphasized that journalists deserve to retire with dignity, given their crucial role in promoting accountability in both public and private sectors.
“Pension is a vital component of our social security system, and even the government has begun to take it more seriously,” Oloworaran stated.
She stressed that media organisations must lead by example by fulfilling their pension obligations and appealed to the Nigerian Press Council to support PenCom’s advocacy for compliance, underlining that pension contributions are essential safeguards against old age poverty.
In response, the Executive Secretary of the Nigerian Press Council, Dili Ezughah, pledged the Council’s full support in addressing the issue.
Ezughah promised that in order to raise awareness of the serious welfare issues brought on by underpaid pensions, the Council would bring the issue up with important parties, such as the Nigerian Guild of Editors and the Nigeria Union of Journalists.
He also decried the non-remittance of pension contributions by media organisations, describing it as a major concern within the Nigerian media industry.
The meeting concluded with the establishment of a joint working group between PenCom and the Nigerian Press Council, tasked with ensuring a swift resolution to the lingering issue.