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PenCom Launches Initiative to Boost Monthly Payment to N12bn

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By Adedapo Adesanya

The National Pension Commission (PenCom) has launched a new initiative, Pension Boost 1.0, under the Contributory Pension Scheme (CPS), aimed at increasing monthly pension payments to retirees to N12 billion.

According to the pension industry regulator, the initiative, which became effective in June, will see total monthly pension payouts increase from N8.3 billion to N11.9 billion.

The Director-General of PenCom, Ms Omolola Oloworaran, disclosed this during the commission’s second-quarter media briefing in Lagos on Thursday that the increase would directly benefit over 233,000 retirees, depending on their Retirement Savings Account (RSA) balances.

“We are introducing Pension Boost 1.0. This is the news every retiree has been waiting for.

“Effective this month, total monthly pension payments under the CPS will rise from N8.3 billion to N11.9 billion. This will directly benefit over 233,000 retirees, depending on their pension account balances,” she said.

The DG described the initiative as a strategic leap made possible by strong RSA investments and bold economic reforms under the administration of President Bola Tinubu.

“This is not a token gesture. It’s a result of sound investment returns and a visionary framework for pension enhancement.

“It is driven by our newly modified standard pension enhancement template, a transparent structure that allows upward pension adjustments as investment returns increase. This is just the beginning,” she stated.

The PenCom boss also revealed that the backlog of pension arrears had been nearly cleared, with all retirees up to March 2025 now having received their accrued pension rights and monthly entitlements.

She commended President Bola Tinubu for approving a N758 billion bond to settle outstanding pension liabilities, describing it as a landmark move demonstrating the government’s dedication to the welfare of Nigerian retirees.

“Thanks to the decisive leadership of President Tinubu, we’ve seen stable and consistent releases of funds for accrued rights since November last year. The end of pension arrears is very, very near.

“President Tinubu’s approval of the N758 billion bond to clear pension liabilities is further proof that this administration is rewriting the retirement narrative in Nigeria,” she stressed.

Ms Oloworaran said the agency was focused on building a transparent, inclusive, and resilient pension system.

“We are restoring faith in retirement. We are rewarding work with dignity,” the DG added.

She also issued a warning to defaulting employers and complacent pension operators.

“To employers with late pension remittances, your grace period is over. To operators who remain complacent, there will be consequences. And to every Nigerian worker, we see you, we hear you, and we will protect your future.

“Let the pension industry take note: this is a new era, and we are not going to turn back. We will continue to move forward,” Ms Oloworaran said.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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NCC Arraigns Netnaija’s Emma Analike Over Alleged Copyright Infringement

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By Modupe Gbadeyanka

The chief executive of Netnaija Media Enterprises, Mr Emmanuel Analike, has been arraigned before a Federal High Court sitting in Abuja by the Nigerian Copyright Commission (NCC).

The suspect appeared before Justice Suleiman Liman on Wednesday over allegations bordering on copyright infringement.

He was accused by the NCC of using his online platform to make movies and others not belonging to him available for users to download on the internet.

According to the agency, Mr Analike has infringed copies of audio-visual materials distributed online via his website for online users. Netnaija is an online movie and music download site.

The prosecution counsel, Ms Gladys Isaac-Ojo, who works with the NCC, told the court that the defendant committed an offence contrary to and punishable under Section 44 (1) (a) of the Copyright Act, 2022.

However, Mr Analike pleaded not guilty to the charges preferred against him, prompting his counsel, Nnemeka Ejiofor, seek his bail.

The lawyer informed the court that the application was filed on Monday and supported by 23 paragraphs of affidavits and a written address.

But the judge refused to give a bench ruling and adjourned the ruling of the bail application to Monday, March 9, 2026, ordering the remand of the Netnaija chief in Kuje Correctional Centre.

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Entries Open for ClimateLaunchpad Green Business Ideas Competition

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By Modupe Gbadeyanka

Entries for the 2026 edition of the world’s largest green business ideas competition, ClimateLaunchpad, have opened.

In 2025, the programme, organised by Climate KIC, received over 2,700 applications from 40 countries. The winning ventures gain prize money, investor connections, and access to a global cleantech network.

This year’s edition is expected to be bigger and better, with climate innovators, green venture builders, and entrepreneurs from around the world given the opportunity to apply.

Since its inception in 2014, the programme has supported nearly 5,000 ideas across 97 countries, and this year, it is expanding its presence in Asia with Singapore hosting both the regional final and global grand final for the first time.

Participants move through several stages, including an initial mini-course to refine the concept, an intensive multi-day Boot Camp led by expert trainers, targeted coaching to perfect value propositions and investor pitches, national and regional finals, and a place at the global grand final, with prizes and access to a global climate network.

“Strengthening ClimateLaunchpad’s presence in Asia marks a profound new chapter for this programme and for the climate innovation movement more broadly. Asia is where so much of the world’s climate and nature future will be shaped, through business leadership, public-private partnerships and long-term strategic thinking,” the chief executive of Climate KIC, Kirsten Dunlop, stated.

“We look forward to supporting this momentum with new business ideas and innovation ecosystem collaborations across more than a dozen countries.

“This expansion opens space for deeper cross-cultural connections and for first-time founders to turn sparks of imagination into solutions that serve both people and planet,” Dunlop added.

Also commenting, the chief executive of Better Earth Ventures, Ms Rebecca Sharpe, said, “We are proud to host ClimateLaunchpad’s regional and global grand final in Singapore and to convene an international group of climate entrepreneurs from more than 50 countries.

“Climate solutions are emerging from every corner of the world, and bringing them together creates the kind of cross-border exchange and collaboration this moment demands. Our focus is to ensure early-stage founders have the structure, ecosystem access and support needed to move from idea to credible impact.”

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Nigeria Okays Alphanumeric Digital Postcode System to Boost Delivery

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By Adedapo Adesanya

Nigeria has finally approved the use of an alphanumeric digital postcode system for the country, 17 years after it was first considered.

According to the Minister of Communications and Digital Economy, Mr Bosun Tijani, the system was okayed at the Federal Executive Council (FEC) meeting on Wednesday, chaired by President Bola Tinubu, in line with the ministry’s strategic blueprint.

He said working in collaboration with the Nigerian Postal Service (NIPOST), the ministry will introduce a modern, geospatially intelligent addressing system that improves accuracy across the country and enables faster and more reliable mail and parcel processing.

“Beyond strengthening postal operations, the Digital Postcode System will also serve as an important national enabler supporting better national planning, improved emergency response, more efficient logistics and e-commerce, and the delivery of government services.

“As our digital economy continues to grow, foundational systems such as this play an essential role in building the infrastructure required to connect people, businesses, and services more efficiently across the country,” he said.

He noted that the approval represents another step forward in the Mr Tinubu-led administration’s commitment to building the enabling environment to support a modern, inclusive, and globally competitive digital economy.

On her part, Ms Tola Odeyemi, the Post Master General and chief executive officer of NIPOST, said the implementation is a foundational step toward building the digital infrastructure required for a modern economy.

“First conceptualised in 2009, this initiative is finally becoming a reality in 2026 under the leadership of President Bola Tinubu and the Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani,” she wrote on X, formerly Twitter.

“A digital postcode system is more than a postal reform. It is critical national infrastructure that enables e-commerce, logistics, emergency services, financial inclusion, security, urban planning, and effective public service delivery,” she added.

By introducing an alphanumeric addressing framework, Nigeria will now be able to identify locations with far greater precision across cities, towns, and rural communities.

“This will significantly improve how goods, services, and digital platforms reach Nigerians everywhere.

“This milestone reflects a shared commitment by the Federal Government to strengthen Nigeria’s digital backbone and unlock new opportunities for innovation, commerce, and national development,” she further stated.

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