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PenCom Reaffirms Commitment to Expanding Pension Coverage

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By Adedapo Adesanya

The Director-General of the National Pension Commission (PenCom), Mrs Omolola Oloworaran, has reaffirmed the organisation’s commitment to expanding pension coverage through the new Personal Pension Plan.

She made the disclosure while speaking at the annual conference of the Pension Correspondents Association of Nigeria held on Thursday in Abuja, themed, Inclusion and Innovations: Bridging the Pension Gap for Nigeria’s Informal Sector.

Represented by Head of Corporate Communications, Mr Ibrahim Buwai, she said the plan would ensure every Nigerian, whether employed or self-employed, enjoyed a secure and dignified retirement.

She noted that Nigeria’s informal workforce, estimated at up to 80 million people, remained largely uncovered under the existing pension scheme.

According to her, this gap deprives artisans, traders, freelancers, and gig workers of the benefits of structured retirement savings.

She said under-coverage meant the promise of retirement security remained a distant dream for many Nigerians.

Mrs Oloworaran said the Micro Pension Plan launched in 2019 attracted about 200,000 contributors and assets worth N1 billion.

She added that more innovative and inclusive measures were needed to expand pension participation across the country, noting that PenCom has redesigned the Micro Pension Plan into the new Personal Pension Plan under the Pension Revolution 2.0 initiative.

The PenCom DG outlined key PPP features, including broad eligibility for informal and self-employed workers and voluntary contributors in formal employment, adding that contributions would be flexible, with savers allowed to access half of each payment for urgent needs.

Mrs Oloworaran added that the plan would use mobile money, POS, USSD, and digital wallets through accredited agents and pension administrators.

She said the scheme offered transparency, with instant payment acknowledgment and real-time access to contribution statements.

Mrs Oloworaran said the plan was created to address low awareness, irregular earnings, and complex registration processes in the informal sector.

She said the new approach was expected to boost pension coverage, strengthen financial inclusion, and improve retirement security.

The PenCom chief urged journalists to support the regulator by raising awareness and simplifying the message for grassroots communities.

Acting PenOp Chief Executive, Ms Anthonia Ifeanyi-Okoro, also called for increased inclusion and innovation in the pension system.

She described pensions as a social contract that transforms long years of labour into dignity and independence in old age.

Ms Ifeanyi-Okoro said the PPP offered flexibility, simple onboarding, and digital channels tailored to informal sector realities.

She said technology, education, and trusted agents would help millions of informal workers join the pension system. She highlighted progress under the Contributory Pension Scheme introduced by the Pension Reform Act of 2004.

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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FG Backs US Sanctions on Three BDC Operators Linked to Terror Financing

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By Adedapo Adesanya

The federal government has hailed the recent sanctioning of three Nigerian bureau de change (BDC) operators by the United States’ Office of Foreign Assets Control (OFAC) for alleged terrorism financing.

“The Nigeria Sanctions Committee welcomes the recent inclusion of Mukthar Muhammad Adamu, Nine to Nine BDC, and Generation BDC Limited by the United States Office of Foreign Assets Control (OFAC).

“These designations follow the inclusion of Adamu and his companies as part of a broader update to the Nigeria Sanctions List approved and published on 18th June 2026,” it disclosed in a statement.

It said that the naming of the three companies and six people followed extensive intelligence gathering, financial investigations, and inter-agency assessments, which established reasonable grounds to believe that the affected individuals and entities facilitated, financed, supported, or otherwise contributed to the activities of the Islamic State West Africa Province (ISWAP) and associated terrorist networks.

“The individuals and entities added to the Nigeria Sanctions List on 18th June 2026 are Ibrahim Yakubu Ogirima (NLISWi.19), Muktar Muhammad Adamu (NLISWi.20), Adamu Chiroma (NLISWi.21), Ibrahim Abubakar (NLISWi.22), Abdullahi Umar Usman (NLISWi.23), Babangida Muhammed Adamu Hammajam (NLISWi.24), Abbal Bako & Sons Bureau De Change Limited (NLISWe.25), Generation Currency BDC Limited (NLISWe.26), Nine to Nine BDC Limited (NLISWe.27),” the statement read in part.

The federal government reiterated its directive to all financial institutions and designated non-financial businesses and professions to continue to comply with all sanctions obligations, including asset-freezing requirements, the filing of suspicious transaction reports, and the reporting of all relevant matches to the appropriate authorities.

The sanctions committee commended the work of the Federal Ministry of Justice, Office of the National Security Adviser (ONSA), Central Bank of Nigeria (CBN), Department of State Services, Economic and Financial Crimes Commission, and the Nigerian Financial Intelligence Unit for their actions to ensure that terrorist groups are denied the resources that sustain their activities.

It stated that Nigeria remains resolute in its commitment to ensuring that terrorists and their financiers find no safe haven within the country’s financial system.

The committee also said that the Federal Government would continue to work closely with domestic stakeholders and international partners to protect national security, strengthen financial integrity, and contribute to global efforts to combat terrorism and its financing.

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Lagos Seals Radio Station, Others for Noise Pollution

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Wise FM Lagos

By Aduragbemi Omiyale

A radio station, Wise FM, has been sealed by officials of the Lagos State Environmental Protection Agency (LASEPA).

The premises of the broadcast media platform, located on Ogabi Street, Meiran, Ile-Iwe Bus Stop, were shut by the state government on Tuesday, June 23, 2026, alongside other establishments across different parts of Lagos State for alleged persistent violations of environmental regulations despite repeated warnings, abatement notices, and opportunities provided for compliance.

In a statement by LASEPA, it was disclosed that the enforcement exercise was carried out in response to various environmental infractions, including noise pollution, air pollution, obstruction of official duties, and failure to comply with its directives.

As regards Wise FM, it was said that it was sealed for noise and air pollution as well as non-compliance with the Agency’s directives.

Another organisation affected, Star-View Terrace, located in Amuwo Odofin, Lagos, was shut down for noise pollution and non-compliance with the agency’s directives, while Premiership Suites, located at Akin Osiyemi Street, Off Allen Avenue, Ikeja, was sealed for non-compliance with the agency’s directives.

Speaking on the enforcement operation, the General Manager of LASEPA, Mr Babatunde Ajayi, reiterated the organisation’s unwavering commitment to safeguarding public health and ensuring a cleaner, safer, and more sustainable environment across Lagos State.

He stressed that both individuals and corporate organisations have a responsibility to comply with environmental laws and regulations, stressing that environmental protection remains a collective duty that requires the cooperation of all stakeholders.

The LASEPA boss warned that the agency would continue to intensify enforcement actions against violators in order to curb environmental nuisances and protect residents from the harmful effects of pollution.

Mr Ajayi urged residents, business owners, and operators of commercial establishments to adopt environmentally responsible practices and cooperate with regulatory authorities in promoting a healthier, cleaner, and more livable Lagos.

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LPPC Temporarily Strips Mike Ozekhome of SAN Title

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By Aduragbemi Omiyale

Renowned legal practitioner, Mr Mike Ozekhome, has been directed to desist from using the prestigious title of the Senior Advocate of Nigeria (SAN) for now pending the outcome of disciplinary proceedings against him.

He is being investigated by the Legal Practitioners’ Privileges Committee (LPPC), a body which looks into complaints against lawyers in Nigeria.

Announcing the suspension of the prominent lawyer’s SAN rank on Thursday, the Chief Registrar of the Supreme Court, Mr Kabir Akanbi, said the disciplinary action was taken at the committee’s 173rd general meeting on Tuesday, June 23, 2026.

Mr Akanbi, who doubles as the Secretary of the LPPC, stated in the statement that the temporary ban is intended to safeguard the integrity, dignity, and prestige of the SAN rank while the matters under review are being considered.

It was explained that the suspension was pursuant to Paragraph 26(6) of the Guidelines for the Conferment of the Rank of Senior Advocate of Nigeria and all Matters Pertaining to the Rank, adding that it is tied to disciplinary proceedings currently before the Disciplinary and Ethics Sub-Committee of the LPPC and other related proceedings.

“The LPPC remains committed to upholding the highest standards of professional ethics, integrity, and discipline within the legal profession and to ensuring that the Rank of Senior Advocate of Nigeria continues to command public confidence and respect,” a part of the notice disclosed.

It stressed that, “Mike Ozekhome shall refrain from parading himself, presenting himself, or otherwise holding himself out as a Senior Advocate of Nigeria pending the final determination of the disciplinary proceedings.”

The title of Senior Advocate of Nigeria (SAN) is the highest honour bestowed upon legal practitioners in the country, recognising excellence and long-standing contributions to the legal profession. The LPPC is the statutory body empowered to award and withdraw the rank.

Mr Ozekhome is one of Nigeria’s famous constitutional lawyers, human rights activists, and public commentators, but lately, his name was mentioned in an alleged forgery in the United Kingdom.

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