The Federal Government has compiled a list of 25,654 Nigerian firms qualified to bid on ministry contracts. The list was compiled based on companies’ compliance with employee pension and insurance requirements. Among the companies listed are media, health, agriculture, and banks, among others.
The National Pension Commission in Nigeria has announced that it has issued clearance certificates to 25,654 companies. With the approval, the organizations can now bid on contracts in Ministries, Departments, and Agencies for the fiscal year 2022.
The list, titled’ schedule of employers issued with a certificate of compliance with provisions of the PRA 2014 as of 20 June 2022,’ was posted on the PenCom website.
According to the laws of the National Pension Act, a company must have met the minimum requirement of opening a pension account and having life insurance coverage in order to qualify for the certificate.
It stated that companies that do not provide workers’ compensation insurance will be barred from doing government business. PenCom believes that the regulation will ensure that companies provide appropriate pension accounts for their employees.