The National Pension Commission has recovered N4.57 billion from defaulting employers between Q1 2024 and Q1 2025, underscoring its resolve to safeguard workers’ retirement savings under Nigeria’s Contributory Pension Scheme.
The Chief Executive Officer of the Pension Fund Operators Association of Nigeria, Mr. Oguche Agudah, disclosed this in an interview with NAN on Tuesday.
He explained that the amount comprised N2.12 billion in unremitted pension contributions and N2.45 billion in penalties levied on 138 employers who failed to meet their obligations.
“This is evidence that enforcement continues to safeguard workers’ retirement savings,” Agudah said.
He stressed that PenCom is moving from reactive enforcement to proactive prevention.
“The pattern also highlights what is next, which is a move from episodic crackdowns to durable prevention by tightening real-time remittance monitoring, escalating sanctions for chronic defaulters, and deepening employer education to reduce repeat offenses,” Agudah stated.
“The goal is not just big recovery headlines,” he added, “it is fewer defaults, faster remittances, and a stronger, more predictable Contributory Pension Scheme.”
Agudah reiterated that the law mandates all firms with at least three employees to remit pension contributions, and encouraged workers to flag non-compliant employers through PenCom’s reporting platforms.
Data from PenCom’s enforcement drive showed the peak recovery in Q1 2024, when the regulator recouped N751.51 million in pension contributions and N1.44 billion in penalties.
Recoveries slowed mid-year but surged again in Q4 2024 before rebounding in Q1 2025.
In the first quarter of 2025 alone, PenCom recovered N972.12 million in contributions and N381.88 million in penalties from 19 employers. Though not the highest overall, the quarter recorded the strongest average contribution — N71 million per employer, compared with N63 million in Q1 2024.
Agudah said the trend highlights PenCom’s focus on larger, more material cases, even as the pool of defaulting employers continues to shrink.
