PenCom recovers N32.27bn, promises stiffer penalties against defaulters

Monic

The National Pension Commission (PenCom) says it has recovered over N32.27 billion from defaulting employers in the last 13 years.

The recovered amount comprises N15.87 billion in unremitted pension contributions and N16.4 billion in penalties recovered within the period covering June 2012 and September 2025.

The Commission also announced tougher compliance regime, warning employers that non-remittance of workers’ pension contributions would no longer be tolerated as it is now determined to deepen enforcement nationwide.

PenCom Director-General, Ms Omolola Oloworaran, who disclosed this state of affairs at a training workshop for accredited Recovery Agents (RAs) in Lagos, further disclosed that about N2.06 billion was recovered from 49 employers in the third quarter of 2025 alone, marking what industry operators consider as the strongest enforcement momentum seen in recent years.

She said persistent default undermines the purpose of the contributory pension scheme (CPS), insisting that PenCom has moved from voluntary persuasion to strict enforcement.

The PenCom boss, represented by the Commissioner of Inspectorate, Samuel Chigozie Uwandu, reaffirmed the Commission’s resolve to clamp down on pension defaulters, saying: “Every unremitted naira represents a broken promise to a Nigerian worker. The era of impunity is over.”

She emphasized that RAs are central to delivering the Commission’s compliance strategy, stressing also that they all must act transparently and satisfactorily within their given portfolios.

Oloworaran challenged the RAs to uphold the highest ethical and professional standards as they execute PenCom’s broadened mandate, assuring them of full institutional support in carrying out their assignment.

At the workshop, PenCom explained new inter-agency collaborations involving the Corporate Affairs Commission (CAC), Federal Inland Revenue Service (FIRS) and other regulatory bodies within the pension sector.

Additionally, the Commission said that a Memorandum of Understanding (MoU) with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) will allow the anti-graft agency to hold directors and managers of recalcitrant companies accountable, introducing possible criminal consequences into pension enforcement.

The training featured technical sessions covering areas such as employer audits, liability computation, negotiation, documentation, evidence management and the use of enhanced digital compliance tools among others.

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