Abuja – National Pension Commission (PenCom) don recover over N4.04 billion unpaid pension contribution between January and November 2025, na big jump of over 180 per cent when compare am with N1.44 billion wey dem recover for the whole of 2024.
Director-General of PenCom, Mrs Omolola Oloworaran, talk this one on Tuesday for Abuja as she present her one-year scorecard for Pension Revolution Summit and 2025 Media Conference.
According to her, the sharp increase no be mistake, na result of strong regulatory action wey PenCom take to tackle employers wey no dey remit workers’ pension.
She explain say PenCom issue serious compliance circular for second quarter of 2025, wey link Pension Clearance Certificate (PCC) to participation for pension industry business.
“As soon as we issue the circular, result show immediately,” Oloworaran talk.
She explain further say from January to November 2025, pension recovery reach N4.04bn, compared to N1.44bn for entire 2024.
“Most important one be say N2.06bn come from third quarter of 2025 alone, almost 150 per cent of wetin we recover for the whole 2024,” she add.
PenCom boss also talk say compliance improve well well, as value of Pension Clearance Certificates increase sharply. Before Q3 2025, PCC dey average N150bn per quarter, but e jump reach about N233bn for third quarter after the new rule start.
“This show clearly say once compliance get real economic consequence, behaviour go change,” she say.
Oloworaran explain say the recovery drive na part of bigger reform agenda wey she inherit when she resume office about one year ago, with mandate to rebuild trust, expand pension coverage, strengthen governance and reposition the Contributory Pension Scheme (CPS).
“I fit proudly talk say this one year don full with bold decisions, structural reforms and clear results,” she talk.
She highlight launch of Pension Revolution 2.0, describe am as the biggest reform for pension sector since 2004.
“This no be cosmetic reform. Na deep structural change,” she say, adding say e bring new regulations, stronger supervision, better governance, digital transformation and industry realignment to future-proof pension system.
She also mention Presidential approval and release of N758bn to clear outstanding pension liabilities as one of the biggest achievements of the year.
“This action send strong message say Nigeria dey honour promise to workers and retirees,” she say, adding say pension increase backlog for some federal retirees wey date back to 2007 don clear.
Oloworaran further disclose say from July 2025, zero waiting time don return for payment of accrued pension rights, meaning retirees dey get dem money on time.
To improve benefit, she say PenCom introduce Pension Boost 1.0, wey don add N2.68bn to monthly pension payments for CPS retirees.
“These no be just numbers. Na food for table, medicine for body and dignity for our retirees,” she emphasise.
On operations, PenCom boss say commission don fully automate key pension processes like benefit payment, contribution remittance and PCC system, to reduce leakage and increase transparency.
She also announce inauguration of PenCare Initiative Board of Trustees, wey aim to provide affordable healthcare for low-income retirees.
“Retirement suppose be time of peace, no be time of fear over hospital bills,” she talk.
To expand coverage, she say Micro Pension Plan don rebrand to Personal Pension Plan, to better serve informal workers like traders, artisans and gig workers. She add say PenCom introduce Accredited Pension Agents, wey go also create jobs for young Nigerians.
“Dem no be just agents; na employment strategy,” she say.
On governance, Oloworaran disclose say PenCom don raise capital requirement for pension operators and tighten rules to remove shadow directors.
“Pension no suppose dey managed from shadow. Transparency and accountability na must,” she insist.
She thank pension operators and media for cooperation, stressing say compliance, innovation and service excellence no be option under the new reform era.
“Retirement security no be privilege, na right. And PenCom go defend am strong and fair,” she conclude, adding say pension revolution don start and e no go turn back.
