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    FG Releases Names of First Six Companies Approved to Bid for Federal Government Contracts in 2023 Budget

    Nigerian Budget 2023: President Buhari presents N19.76tn 2023 budget to National Assembly Friday 

    The Federal Government has produced a list of six Nigerian companies eligible to bid to execute projects in government contracts in 2023

    The list was produced based on companies’ compliance with employee pensions and insurance

    In 2022, no few than 26,556 companies were listed across different sectors of the economy

    The National Pension Commission said that it has awarded clearance certificates to six Nigerian companies in the first days of 2023.

    With clearance, the six companies are now eligible to pursue government contracts in the 2023 budget that fall under their organization’s purview.

    The list was posted on the PenCom website titled ‘schedule of employers issued with a certificate of compliance with provisions of the PRA 2014 as at January 3, 2023’ and was obtained by WOTHAPPEN.

    The list will be updated throughout the year, and it is possible that the number of companies may outnumber the 26,556 firms allowed in 2022 and 25,841 in 2021, as the federal government expects to spend N21.83 trillion.

    Requirements to get a federal government contract

    According to the National Pension Act’s laws, a company must have passed the minimum requirement of opening a pension account and life insurance cover for a company to qualify for the certificate.

    It stated that companies with no insurance coverage for their workers will not be allowed to do any government business.

    PenCom believes that with the regulation, companies would ensure that there is appropriate pension accounts for their workers.

    List of first six companies to get the clearance

    • Group One Dimension Limited
    • Quicka Nigeria Limited
    • Ramussal International Limited
    • Jaiz Takaful Insurance
    • Premium Times Services Limited
    • Triacta (Nigeria) Limited

    The clearance certificate issued to the above-listed companies will expire on December 31, 2023.

    10 things to know as CBN cash withdrawal policy kicks off

    Meanwhile in another report, WOTHAPPEN revealed that commercial banks in the country have started the implementation of the CBN cash withdrawal policy

    Its goal is to increase the number of transactions conducted electronically while reducing the amount of physical cash that is used in the economy

    Here are the ten things to know about the cash withdrawal policy which has generated a lot of controversies

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