
Finance
PenCom Automates Penalties After N36.6 Billion Recoveries
PenCom has automated penalties for employers that delay pension remittances, after cumulative recoveries from defaulters reached N36.6 billion.
Musa Abdullahi3 min read
4 results for “compliance”

PenCom has automated penalties for employers that delay pension remittances, after cumulative recoveries from defaulters reached N36.6 billion.

The National Insurance Commission has begun final verification of insurers' compliance with higher capital requirements, with consolidation expected to follow.
Stronger collection is narrowing the gap between the fiscal deficit and its financing.
The two-year exercise lifted paid-up capital across the banking system, with the regulator saying every affected lender chose a route to compliance.