Nigeria’s pension regulator, the National Pension Commission (PenCom), has warned Nigerians to beware of a growing recruitment scam targeting job seekers across the country.
The commission issued the alert on Tuesday through its official account on X (formerly Twitter), urging the public to remain vigilant and avoid sharing personal information with unknown individuals claiming to offer employment opportunities.
PenCom said scammers have been contacting unsuspecting victims through WhatsApp messages, emails, and personal phone numbers. The fraudsters often pose as officials of the commission and request sensitive information from applicants under the guise of facilitating job placements.
According to the commission, one of the key tactics used by the scammers is to create a sense of urgency. Victims are typically told they must respond within 48 hours to secure a supposed job opportunity.
“The scammers often create a sense of urgency, claiming a 48-hour deadline to deceive individuals into revealing sensitive information,” PenCom stated.
The commission also warned that the fraudsters frequently ask victims to send confidential documents to a mysterious “secretary” through WhatsApp, a sign that the recruitment process is not legitimate.
PenCom revealed that it has received several reports of scammers impersonating the Director-General of the commission to give credibility to their claims and deceive potential victims.
“Do not respond to suspicious WhatsApp messages or emails. Delete them immediately and refrain from sharing them with others,” the commission advised.
The warning comes amid wider efforts by regulators to combat financial fraud in Nigeria. Recently, the Securities and Exchange Commission Nigeria shut down more than 400 fraudulent investment schemes across the country as part of a crackdown on scams targeting unsuspecting investors.
Authorities say the enforcement action is aimed at protecting the public and strengthening confidence in Nigeria’s financial system.
Despite the scam threat, Nigeria’s pension sector continues to record strong growth. PenCom disclosed that total pension assets rose to N29.43 trillion as of February 2026, marking a historic high after increasing by N1.39 trillion in a single month.
The growth reflects sustained pension contributions and improved investment performance by pension fund administrators.
PenCom noted that investments in domestic equities climbed to N5.41 trillion, demonstrating strong participation by pension funds in the Nigerian stock market. Meanwhile, foreign equity investments remained relatively modest at N261.99 billion, largely due to global economic uncertainties.
Other key investments include corporate debt securities worth N2.25 trillion, state government bonds totaling N368.99 billion, and money market instruments valued at N2.74 trillion.
The commission said it will continue monitoring the pension industry to safeguard contributors’ funds while intensifying efforts to combat fraudulent schemes targeting Nigerians.
