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PenCom scraps pre-approval for pension adverts by PFAs
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The National Pension Commission (PenCom) has abolished the requirement for Pension Fund Administrators (PFAs) to obtain prior written approval before releasing advertisements and marketing campaign materials.
The new directive was contained in a circular dated May 8, 2026, and signed by the Director of the Surveillance Department, Abdulrahman Saleem.
According to the Commission, the policy takes immediate effect and replaces Section 6.3.1 of the Guidelines for the Operations of Pension Fund Administrators, which previously required PFAs to secure written approval before advertising or promoting their products and services.
PenCom said the decision was aimed at promoting operational efficiency, reducing bureaucratic delays and enabling quicker dissemination of information to potential clients.
The Commission stated that although prior approval is no longer mandatory, PFAs are still required to notify PenCom before deploying advertisements across broadcast, print, digital and outdoor media platforms.
“In furtherance of the Commission’s commitment to promoting operational efficiency, reduce bureaucratic delays, and quicker dissemination of information by PFAs to their potential clients, the Commission deems it necessary to allow PFAs to henceforth release their advertisement and media campaign materials without the prior approval of the Commission,” the circular stated.
PenCom, however, outlined strict compliance conditions that operators must meet before releasing promotional materials.
Under the new framework, PFAs are required to disclose the duration and timelines of advertisements and submit copies of creative materials before publication.
The Commission also directed operators to clearly define the target audience for each campaign and provide evidence of internal clearance from their Legal and Compliance departments.
It further stated that pension products or services being advertised must already have PenCom’s approval before they can be promoted to the public.
Despite relaxing the approval process, PenCom stressed that regulatory oversight remains fully in force.
The Commission warned that all advertising materials must be factual, verifiable and compliant with the Nigeria Data Protection Act (NDPA) 2023 as well as the Pension Reform Act 2014.
PenCom also prohibited the use of lotteries, prize draws and other inducements in pension advertisements.
In addition, the Commission banned misleading claims, unaudited financial references and deceptive fee disclosures in promotional campaigns.
PFAs were equally warned against using government symbols, public figures or institutional assets without proper authorisation.
The circular further directed pension operators to register slogans, taglines and promotional phrases with the national Trademarks Registry before deployment.
PenCom maintained that PFAs would remain fully responsible for all advertising content, including campaigns handled by third-party consultants, media agencies and digital influencers.
Industry stakeholders believe the latest move is part of broader reforms by the Commission aimed at streamlining pension administration and reducing delays within Nigeria’s Contributory Pension Scheme (CPS).
Last year, PenCom also eliminated the pre-approval requirement for several categories of retirement benefit payments, allowing PFAs to process and approve requests without seeking prior clearance from the Commission.
The reform, which took effect on June 1, 2025, was introduced to fast-track pension payments and improve service delivery to Retirement Savings Account holders.
President Bola Tinubu has asked the senate to approve a constitutional amendment bill seeking to establish state police across Nigeria as part of efforts to strengthen the country’s security architecture.
The request was contained in a letter dated June 15, 2026, and read on the floor of the senate on Tuesday by Godswill Akpabio.
In the correspondence, Tinubu said the proposed Constitution of the Federal Republic of Nigeria (Alteration) State Police Bill, 2026, seeks to amend the 1999 constitution to provide a legal framework for the creation of state police services.
The president said the bill is designed to address Nigeria’s evolving security challenges by introducing a dual policing structure that would allow both federal and state policing systems to operate within a constitutional framework.
According to him, the proposal builds on previous legislative efforts by both chambers of the national assembly and contains additional safeguards to ensure effective implementation.
“This bill builds on the significant work already done in this regard by the House of Representatives and the Senate, and incorporates additional safeguards to ensure that the creation of a dual policing structure to address our nation’s evolving national security challenges, will be achieved quickly and effectively to the benefit of all Nigerians,” Tinubu said.
The president described the proposed legislation as a key component of his administration’s broader plan to reform Nigeria’s security system and improve the protection of lives and property.
“The proposed legislation is a critical component of our administration’s strategy to reorganize Nigeria’s security architecture to better protect our citizens, and I’m confident that the Senate will act quickly to consider and pass this bill,” he added.
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Tinubu urged lawmakers to give the proposal expeditious consideration.
Following the reading of the letter, Akpabio referred the bill to the senate committee on constitution review for further legislative action.
The committee was directed to report back to the chamber on the next legislative day.
The Nigerian Senate has fixed Wednesday for the passage of the state police bill.
The lawmakers had cut short their recess to consider the bill, which seeks to amend the 1999 Constitution and decentralise Nigeria’s policing system in response to worsening security challenges
President Bola Tinubu on Tuesday transmitted an executive version of the bill to the Senate through a letter dated June 15, 2026.
The proposed legislation seeks to establish a dual policing system in which federal and state police forces operate alongside each other.
At the plenary on Tuesday, Senate President Godswill Akpabio described the proposal as a key step towards restructuring Nigeria’s security framework.
The proposed legislation was immediately referred to the Senate Ad Hoc Committee on Constitution Review, chaired by Deputy Senate President Barau Jibrin, which is expected to present its report for consideration and voting.
Akpabio called on senators to be present for the exercise, stressing the need for broad support to secure its passage.
“Every senator should endeavor to come tomorrow to be part of this exercise.
“We are going to be live tomorrow and your constituents will be seeing what you are doing,” he added.
The Independent National Electoral Commission, INEC, has presented Certificates of Return to candidates who emerged victorious in the by-elections conducted on June 20, 2026, across Rivers, Enugu, Nasarawa, Ondo and Kano States.
This was disclosed in a statement issued by the electoral commission.
According to INEC, the certificates were presented on behalf of the Commission’s Chairman, Prof. Joash Amupitan, SAN, by the Supervising National Commissioner for Rivers State, Mrs May Agbamuche-Mbu.
Speaking during the presentation, Agbamuche-Mbu congratulated the successful candidates and urged them to prioritise the interests of the people they were elected to represent.
“The most important responsibility before you is to represent your constituents well,” Agbamuche-Mbu said.
The National Commissioner also reminded the winners of the expectations placed on them by voters and encouraged them to serve with diligence and commitment.
INEC further disclosed that Certificates of Return would also be presented to winners of other recently concluded elections, including the Zuru State Constituency election in Kebbi State and the governorship election in Ekiti State.
INEC said the presentation of the certificates followed the conclusion of the bye-elections conducted on June 20, 2026.
Tinubu Seeks Constitutional Backing For State Police, Writes Senate
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