FG Contracts: PenCom Gives 83 Firms Green Light

By January 16, 2018 Investment News

For meeting the slated requirements, the National Pension Commission (PenCom) has issued compliance certificates to 83 companies to bid for Federal Government contracts this year.

The clean bill indicated that firms like Ghazi Shipping and Trading Company Limited, which has five employees contributed N3.13 million; AIICO Insurance Plc, which has 264 staff, in 2017, contributed N135.11 million.

Solid Trust Insurance Brokers Limited, with nine staff, contributed N5.03 million. Others include Risk Analyst Insurance Brokers Limited, which has nine employees and contributed N2.42 million; Prorisk Insurance Brokers Limited with nine staff, contributed N2.42 million and Image Brokers Limited, which has 16 employees contributed N1.51 million.

Also, Wib Insurance Brokers Limited with three staff, contributed N855,499.58 and Denos Insurance Brokers Limited employing seven staff contributed N660,240.12; Geo-Chem West Africa Limited, which has 19 employees contributed N3.86 million; Setraco Nigeria Limited with 2,839 employees, N455.05 million; North South Power Company Limited, 331 employees, N114.65 million and Oriental Energy Resources Limited, 43 employees, N41.59 million.

PenCom also appealed to government’s Ministries, Departments and Agencies (MDAs) to support the certificate of compliance initiative, adding that MDAs often accept spurious evidence of compliance from contractors and are reluctant to ensure that companies bidding for works fulfill their obligations relating to pensions as enunciated in the Public Procurement Act 2007.

Source: Sun