General
No Official Earns N1m Monthly—PenCom Cries Out
By Adedapo Adesanya
The National Pension Commission (PenCom) has clarified that no official under its employment collects up to N1 million as salary as alleged.
The clarification followed a report claiming that the least paid PenCom employee earns a salary of N3 million per month.
According to the company, “it has become necessary to set the record straight in the interest of the Nigerian public.”
In a press release seen by Business Post, PenCom disregarded the source of information, adding that, “The public is invited to note that the claim is false. The highest-paid official of the commission earns less than N1 million a month. It is, therefore, completely illogical and improbable that the least paid will earn a monthly salary of N3 million.”
According to the pension industry regulator, the news report has fueled all sorts of false allegations and unfair insinuations.
“We understand that there is an element of mischief and possible blackmail on the Commission’s compensation package. From our understanding, it appears someone calculated all staff costs, including training, staff exit benefit scheme, and employer’s pension contribution, and divided the total by the number of the commission’s employees and concluded that the least paid employee is on a monthly salary of N3 million. There is a clear difference between staff cost and staff salaries,” the statement said.
It clarified that since the inception of the commission in 2004, the federal government mandated the board to adopt an employee compensation policy that favourably compares to comparator government bodies in the financial services sector, such as the Central Bank of Nigeria (CBN), the Nigeria Deposit Insurance Corporation (NDIC) and the Securities and Exchange Commission (SEC).
Section 25(2)(b) of the Pension Reform Act 2014 also empowers the Board of the Commission to fix the remuneration, allowances, and benefits of the employees.
It advised that the Presidential Committee on the Consolidation of Emoluments in the Public Sector, headed by the late Chief Ernest Shonekan, former Head of the Interim National Government, made some recommendations that guide the PenCom Board in its compensation review exercises.
One recommendation is that “the pay structure of self-funded agencies should be benchmarked with their private sector comparators to ensure relativity in such agencies and attract and retain high-calibre professionals.”
The Shonekan Committee, which former President Olusegun Obasanjo set up in 2005, also recommended that the pay structure of regulatory agencies should be benchmarked against sectors they monitor to avoid regulatory capture and that an annual increase in pay should be undertaken to account for inflation/cost of living adjustment and establishments may strive to attain 50th percentile and above their comparators in the private sector.
PenCom noted that it had made this clear in a recent submission to the House of Representatives Committee on Finance over the compensation package of the Commission.
“We also stated that the last compensation package review was done in 2017 with the approval of the Office of the Secretary to the Government of the Federation (OSGF). No review has been done in the last five years, and this has affected the agency’s ability to attract, hire and retain staff with competitive skills.”
“The public is implored to ignore the false and mischievous information on the staff compensation package. The Commission has nothing to hide and will continue to run a transparent and accountable system,” it hammered.
General
Finance Ministry Directs Shippers, Airlines to Submit Manifests via Single Window Project
By Adedapo Adesanya
The Ministry of Finance has directed all shipping companies and airlines operating in Nigeria to submit their manifests through the Single Window Project (SWP) as part of efforts to strengthen cargo tracking and transparency.
The submission of shipping manifests before the change of policy was handled exclusively by the Nigeria Customs Service (NCS) for onward cargo processing and port clearance.
However, following a memo from late last year signed by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, all shipping firms and airlines were directed to integrate with the National Single Window platform to ensure seamless Manifests submission.
“I would like to bring to your attention that His Excellency, President Bola Ahmed Tinubu inaugurated the National Single Window (NSW) Project on the 16th of April 2024.
The NSW Project aims to streamline and automate import and export processes at Nigeria’s entry & exit ports, with the dual goals of enhancing trade facilitation and increasing government revenue.
“By integrating the operations of multiple government agencies involved in trade processes on one platform, the NSW platform will ensure faster clearance of goods and services, improve operational efficiencies at the imports and significantly reduce bureaucratic bottlenecks.
“Key components of the Single Window as defined by the World Trade Organisation (WTO) and World Customs Organisation (WCO) include: (a) a single-entry point i.e. traders, shipping lines, airlines and other stakeholders should submit all required import and export documentation through a single-entry point on a centralized digital platform, and (b) single submission i.e. all documentation should only be submitted once and data only entered once.
“As a result, the NSW Platform will be the single-entry point of submission for all Sea and Air Manifests. Therefore, all shipping lines and airlines are therefore directed to integrate with the NSW Platform to ensure seamless Manifests submission,” parts of the memo read.
The Comptroller-General of the NCS, the chairman of the Nigerian Revenue Service (NRS), the Managing Director of the Nigerian Ports Authority (NPA), the Managing Director of the Federal Airports Authority of Nigeria (FAAN) and the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) were copied in the memo.
General
Dangote Drags ex-NMDPRA Boss Farouk Ahmed to EFCC
By Aduragbemi Omiyale
The petition written against the immediate past chief executive of the Midstream Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed, which was withdrawn from the Independent Corrupt Practices and Other Related Offences Commission (ICPC), has now been taken to the Economic and Financial Crimes Commission (EFCC).
The letter was written by the chairman of Dangote Industries Limited (DIL), Mr Aliko Dangote. It contained allegations of allegations of abuse of office and corrupt enrichment against Mr Ahmed.
The petition led to the resignation of the former NMDPRA chief from office last month.
It was gathered that Mr Dangote, through his legal representative, filed a formal corruption petition against him at the headquarters of the EFCC, with specific plea of prosecuting Mr Ahmed if found culpable.
The businessman said the withdrawal of the petition from the ICPC was a strategic move aimed at accelerating the prosecution process.
In the petition signed by his lead counsel Mr O.J. Onoja (SAN), Mr Dangote noted that, “We make bold to state that the commission is strategically positioned along with sister agencies to prosecute financial crimes and corruption related offences, and upon establishing a prima facie case, the courts do not hesitate to punish offenders. See Lawan v. F.R.N (2024) 12 NWLR (Pt. 1953) 501 and Shema v. F.R.N. (2018) 9 NWLR (Pt.1624)337.”
He further urged the anti-money laundering agency, under the leadership of Mr Olanipekun Olukoyede, “…to investigate the complaint of Abuse of Office and Corruption against Engr. Farouk Ahmed and to accordingly prosecute him if found wanting.”
“The commission’s firm resolve in handling this matter with dispatch is not only imperative and expedient but will also serve as a deterrent to other public officers out there with such corrupt proneness and tendencies,” he added.
Recall that on December 14, 2025, Mr Dangote raised concerns about Mr. Ahmed’s financial dealings, alleging that the former regulator is living far beyond his legitimate means.
According to him, four of Mr Ahmed’s children attended elite secondary schools in Switzerland, incurring costs running into several millions of dollars—an expenditure that raises questions about potential conflicts of interest and the integrity of regulatory oversight in the downstream petroleum industry.
Mr Dangote listed the schools attended by Mr. Ahmed’s children: Faisal Farouk (Montreux School), Farouk Jr. (Aiglon College), Ashraf Farouk (Institut Le Rosey), and Farhana Farouk (La Garenne International School), noting that each child spent six years in these institutions. He estimated annual tuition, travel, and upkeep per child at $200,000, totaling approximately $5 million for their secondary education.
Additionally, he alleged that Mr Ahmed spent another $2 million on tertiary education for the four children, including $210,000 for Faisal’s 2025 Harvard MBA program.
“Nigerians deserve to know the source of these funds, especially when many parents in Mr Ahmed’s home state of Sokoto struggle to pay as little as N10,000 in school fees,” Mr Dangote stated.
General
Chimamanda Ngozi Adichie Loses One of Twin Sons After Brief Illness
By Adedapo Adesanya
Nigerian author, Ms Chimamanda Ngozi Adichie, and her husband, Dr Ivara Esege, have lost one of their twin sons, Nkanu Nnamdi.
According to a statement issued on Thursday by Ms Omawumi Ogbe, on behalf of the family, the 21-month-old baby passed away on Wednesday, January 7, 2026, after a brief illness.
The statement said the family is devastated by the loss, and requested that their privacy be respected during this difficult time.
“We’re deeply saddened to confirm the passing of one of Ms Chimamanda Ngozi Adichie and Dr Ivara Esege’s twin boys, Nkanu Nnamdi, who passed on Wednesday, 7th of January 2026, after a brief illness. He was 21 months old.
“The family is devastated by this profound loss, and we request that their privacy be respected during this incredibly difficult time.
“We ask for your grace and prayers as they mourn in private.
“No further statements will be made, and we thank the public and the media for respecting their need for seclusion during this period of immense grief,” the statement read.
Ms Adichie is known for works including Half of a Yellow Sun, Americanah and her 2012 Ted Talk and essay We Should All Be Feminists, which was sampled by Beyoncé on her 2013 song Flawless.
The 48 year old writer had her first child, a daughter, in 2016. In 2024, her twin boys were born using a surrogate.
In 2020, her 2006 novel Half of a Yellow Sun was voted the best book to have won the Women’s Prize for Fiction in its 25-year history.
Her latest book, Dream Count, was published in 2025.
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