The Publisher of BusinessDay Newspapers is currently violating Nigerian laws while fraudulently enriching himself at the expense of his poor staff.
The Publisher Frank Aigbogun who has amassed filthy wealth with properties in the United Kingdom, Banana Island and all over Lagos, is knowingly doing business with many Federal Government Ministries, Departments and Agencies (MDAs), despite not being in compliance with the provisions of the Pension Reform Act, 2014.
The ACT states that for any organisation soliciting for contract or business from any Federal Government MDA must be in possession of Pension clearance certificate issued by the Commission as proof that said organisation is remitting workers Pensions.
Investigations however show that in 2019 alone despite BusinessDay not being in compliance with Pencom laws and refusing to remit workers Pensions despite deductions that Aigbogun the Publisher of the paper benefited personally to the tune of over N100 million from various contracts with Federal MDAs.
Some of which include a N60 million contract from the Central Bank of Nigeria (CBN) to launder the image of the Governor Godwin Emefiele, by showcasing dubious rice and other agricultural projects allegedly financed by Emefiele.
Funds were paid to mister Aigbogun by the CBN directly into his personal business account, according to documents seen.
The Publisher also does business with numerous MDAs such as AMCON, NITDA, Ministry of Agriculture, Ministry of Water Resources and so on, despite it being in flagrant violation of Nigerian laws.
One of mister Aigboguns long-suffering staff said : “I have worked here for more than 17 years and I can tell you that the balance in my Pension account is not up to N200,000. It is a shame that the Publisher collects these money from the Government but does not even deem it fit to pay our meagre Pensions.”
According to Pencom and Nigerian laws, any organisation wishing to obtain the annual Pension Clearance Certificate in order to do business with the FG and its MDAs are required to show documents that include :
· Certified list of employees of the organisation as at the end of the last fiscal year,
· Certified rate of monthly pension contributions which should be a minimum of 10 percent by the employer and 8 percent by the employee,
· Evidence of remittance of monthly pension contributions for all employees,
· Evidence of remittance of all outstanding Pension contributions and penalties (late remittances)
· Evidence of current Group Life Insurance Policy for staff specifying the number of lives and sum assured.
BusinessDay is in violation of all of the above requirements, however despite the Publisher Aigbogun making billions of Naira every year through the sweat of its workers.
The BusinessDay Publisher who is trying to buy class by residing in Banana Island and engaging in primitive wealth accumulation at the expense of his workers was recently exposed by his Editor who resigned this week from the publication.