Business
PenCom Deploys Digital Platform to Boost Pension Verification Exercise
BY NKECHI NAECHE-ESEZOBOR—The Federal Government has intensified efforts to boost participation in the ongoing mandatory verification and enrollment exercise for civil servants with accrued pension rights, following a low turnout despite the significance of the programme.
The National Pension Commission (PenCom) is conducting a one-time nationwide online verification and enrollment exercise for all active employees of treasury-funded Ministries, Departments and Agencies (MDAs) who were employed before June 30, 2004.
The exercise, which began on February 2, 2026, and is scheduled to end on July 31, 2026, is designed to capture accurate and complete data on eligible workers. This is expected to support the timely payment of their accrued pension rights under the Contributory Pension Scheme.
The initiative forms part of the Federal Government’s broader effort to address pension obligations carried over from the old Defined Benefit Scheme, which was replaced by the Contributory Pension Scheme in 2004.
Under Section 15(1) of the Pension Reform Act 2014, employees who transitioned to the new scheme are entitled to accrued pension rights representing benefits earned under the previous system. To fund these liabilities, the law provides for a Retirement Benefits Bond Redemption Fund domiciled with the Central Bank of Nigeria.
In a circular dated April 27, 2026, the Head of the Civil Service of the Federation, Didi Esther Walson-Jack, directed all treasury-funded MDAs to support the exercise. The directive stressed that verification is critical for determining the Federal Government’s outstanding pension liabilities and making appropriate budgetary provisions.
PenCom said the current exercise reflects a shift from earlier manual processes that were often hindered by incomplete records and delays. The commission has deployed a digital platform known as the Contributions and Bond Redemption Application (COBRA), designed to enable real-time data capture, validation and processing.
The platform incorporates multiple layers of verification, including biometric capture and cross-checking of employment records, aimed at improving data accuracy and reducing errors that could delay pension payments.
To ensure efficiency, the exercise is being implemented in phases. The first phase, which ran from February 2 to March 31, 2026, covered employees expected to retire between January 2027 and December 2029.
The second phase, currently underway from April 1 to July 31, 2026, targets employees scheduled to retire from January 2030 onwards.
PenCom said the phased approach is intended to enhance coordination, improve monitoring and ensure all eligible employees are captured within the timeline.
However, participation has remained below expectations, prompting a directive mandating full compliance by all treasury-funded MDAs.
Under the directive, MDAs are required to upload details of eligible employees on the COBRA platform, after which affected staff are to visit their respective Pension Fund Administrators with the necessary documents to complete the process.
Pension Desk Officers trained by PenCom have been assigned to coordinate the exercise within their organisations and guide employees through the process.
PenCom assured workers that participation would enable the proper computation of their accrued pension rights and help the Federal Government make adequate provisions for payment, ensuring seamless access to benefits upon retirement.
With the July 31 deadline approaching, the Federal Government has urged Permanent Secretaries and heads of MDAs to publicise the directive widely and ensure full participation.
Officials warned that failure to participate could complicate the processing of accrued pension rights and lead to delays in accessing retirement benefits.
The post PenCom Deploys Digital Platform to Boost Pension Verification Exercise appeared first on Business Today NG.
Enugu State is counting on its new airline and the concession of the Akanu Ibiam International Airport, enugu, to support its plan of growing the state’s economy from $4.4 billion to $30 billion by 2031, the Secretary to the State Government, Chidiebere Onyia, said on Tuesday.
Mr Onyia spoke during the Renewed Hope Media Tour of the airport, where he outlined how the state government’s plans to use aviation, tourism, and agriculture to drive economic growth.
According to him, the airport concession is part of a broader strategy by Governor Peter Mbah’s administration to re-position Enugu as a major economic hub in the South-east.
“We looked at Enugu as an economic hub where tourism, hospitality, investment and aviation can work together to drive growth,” he said.
Mr Onyia said the state expects an increase in visitor traffic in the coming years and believes air transport will play an important role in supporting that growth.
He explained that the government’s projections are linked to plans to attract tourists, investors and businesses to the state.
According to him, depending entirely on commercial airlines could limit the state’s ability to move people into Enugu efficiently.
That, he said, informed the decision to establish Enugu Air.
“If we’re expecting people to come into Enugu, then we can’t depend solely on third-party airlines based on their schedules,” he said.
Mr Onyia disclosed that Enugu Air has six aircraft, describing it as the first phase of the project.
The state government also expects the aviation project to support tourism development.
Mr Onyia said efforts are ongoing to revitalise tourist sites across the state, including attractions expected to draw more visitors to Enugu.
He said that improved access to the state would complement investments in tourism and hospitality by making it easier for visitors to travel to various destinations.
“If people are going to come here for tourism, they need to be able to get into Enugu, and when they get into Enugu, we’ll need places for them to visit,” he said.
He also noted that the airport infrastructure will also support the state’s agricultural development plans through cargo operations.
According to him, the cargo terminal will make it easier to move goods and agricultural produce within and outside the state, creating more opportunities for businesses and investors.
“This is also going to help our agricultural investment outlook because this is where the cargo terminal will be, where we can move things in and out of the state,” he said.
He added that the government’s vision is to use aviation infrastructure to strengthen trade and economic activities across the region.
Private sector-led approach
Mr Onyia said the state adopted a private sector-driven model for the airline and airport projects to ensure efficiency and sustainability.
According to him, professionals with industry experience have been involved in developing the airline and setting up its governance structure.
He said the approach is intended to avoid challenges often associated with direct government management of commercial enterprises.
READ ALSO: ENSSAA to begin enforcement against unauthorised outdoor advertisements across Enugu State
Providing an update on the airport concession process, Mr Onyia said October has been set as the timeline for the next phase of activities.
He explained that the current stage marks an important milestone in the project and will allow concessionaires and contractors to begin work at the site.
Mr Onyia also acknowledged the support of President Bola Tinubu and the Federal Ministry of Aviation in advancing the project.
According to him, federal approvals helped move the initiative from the planning stage to implementation.
The concession of the Akanu Ibiam International Airport followed approval by the Federal Executive Council as part of efforts to attract private investment into airport infrastructure.
In January, the Minister of Aviation and Aerospace Development, Festus Keyamo, signed a concession agreement with Aero Alliance for the operation of the airport.
Under the arrangement, ownership of the airport remains with the Federal Government, while the concessionaire will operate, maintain, and upgrade the facility.
The project has attracted public attention in recent months as the Federal Government and Enugu State continue efforts to re-position the airport as a major gateway for business, tourism and trade in the South-east.
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