Solto Guards and Gadgets Ltd., an Abuja-based business owned by Mr. Olabisi Omotosho, is currently under scrutiny for allegedly making illegal pension withdrawals from its employees’ salaries and failing to remit the funds to their Pension Fund Administrator (PFA) accounts. This alleged violation of the Pension Reform Act of 2014 has raised concerns about the company’s commitment to fulfilling its obligations to its workforce.
The revelations surrounding the illegal pension deductions surfaced following an investigation conducted by Abuja City Journal. The company’s non-compliance with the Pension Reform Act has left a significant number of its employees in a precarious financial position, with potential consequences for their retirement funds.
The gravity of this misconduct is substantial, as affected employees now face the prospect of having inadequate funds in their PFA accounts upon retirement, despite consistent deductions from their salaries. Such actions not only compromise the financial security of the workers but also challenge the integrity of Solto Guards and Gadgets Ltd. as an employer.
Abuja City Journal, in interviews with affected staff, uncovered compelling evidence of the illicit pension deductions and subsequent failure to remit the funds. Mr. Terhile Alvin Ityokosu, an employee, expressed his frustration, stating, “From the point we created [the PFA account] to the date I had to resign after much complaint of the issue of non-remittance, no money was ever paid to my PFA account.”
Wilfred Edionwele, another employee, confirmed that despite regular deductions for pension, the company had neglected to remit these contributions. These firsthand accounts underscore the urgency of addressing this matter and holding Solto Guards and Gadgets Ltd. accountable for its actions.
The alleged illegal pension deduction saga not only raises ethical concerns about the company’s business practices but also emphasizes the necessity for regulatory authorities to intervene. Employees are calling on the Pension Commission (PENCOM) to swiftly investigate the allegations thoroughly and ensure justice is served.
This is not the first time the company has faced such allegations, as a former staff member previously reported the issue to Berekete Family, resulting in the employee being paid his pension after intervention. Abuja City Journal‘s outreach to the Human Resource Manager, Ufaruna Ngbede, has been made, and regulatory authorities, including PENCOM, have expressed readiness to address the issue with the provision of accurate information to aid their investigation.
