The National Pension Commission (PenCom) recovered N4.04 billion from defaulting employers between January and November 2025, representing a 180 per cent increase compared with the N1.44 billion recovered in the whole of 2024.
The sharp rise in recoveries comes as the commission intensifies enforcement actions while rolling out reforms aimed at expanding pension coverage and strengthening confidence in Nigeria’s contributory pension scheme.
Director-General of PenCom, Ms Omolola Oloworaran, disclosed this on Thursday in Lagos at the PenCom 2025 Annual Conference, where she presented what she described as a 365-day scorecard of reforms since her confirmation in office.
Oloworaran also unveiled a renewed strategy to bring artisans, traders, gig workers and other informal sector participants into the pension system through the rebranded Personal Pension Plan (PPP). She explained that the restructuring of the former micro-pension framework was designed to “meet Nigerians where they are” by removing long-standing barriers that have discouraged informal sector participation.
According to her, the new Personal Pension Plan is a key pillar of PenCom’s broader reform agenda to enhance retirement security, expand coverage and restore public confidence in the pension system.
The PenCom boss further revealed that the commission issued a compliance circular in the second quarter of 2025 linking the issuance of Pension Clearance Certificates to participation across the pension industry value chain.
Under the directive, companies without valid pension clearance certificates are barred from doing business with Pension Fund Administrators (PFAs) or attracting investments from pension funds, a move she said has significantly improved compliance levels.
“This approach has strengthened enforcement and accountability, ensuring that employers meet their statutory pension obligations while protecting the retirement savings of Nigerian workers,” Oloworaran said.
She noted that PenCom would continue to deploy both regulatory enforcement and stakeholder engagement to deepen pension penetration, particularly among underserved segments of the workforce.
The commission reaffirmed its commitment to expanding coverage, safeguarding contributors’ funds and positioning the pension system as a critical driver of long-term financial security and economic stability in Nigeria.
