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PenCom to pilot health insurance for retirees

The National Pension Commission has announced plans to pilot health insurance coverage for retirees within the next three months and activate the Minimum Pension Guarantee to safeguard retirees’ dignity and support a decent standard of living. According to the Director General of PenCom, Ms. Omolola Oloworaran, the regulator will also unveil a series of guidelines […]

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PenCom bans substantial cross-shareholding among PFOs

The National Pension Commission has issued new guidelines prohibiting substantial cross-shareholding among licensed Pension Fund Operators. Released on Friday and effective immediately, the guidelines aim to enhance transparency, strengthen governance, and safeguard pension assets. PenCom defines significant cross-shareholding as a scenario in which a major shareholder in one LPFO: a) acquires or seeks to acquire […]

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Trump’s new H-1B visa fees spark chaos for banks, tech firms

United States tech firms and banks scrambled this weekend after President Donald Trump imposed new fees on H-1B visa applications, prompting panic among skilled workers from India and China. Employers issued urgent memos instructing staff abroad to return before the rule took effect at 12:01 a.m. Eastern Time on Sunday and to avoid further international […]

Business

PenCom to expand pension coverage in informal sector

The National Pension Commission has unveiled new measures to boost pension inclusion in Nigeria’s informal sector by partnering with super agents and fintech platforms to streamline enrollment into the revamped Personal Pension Plan. The disclosure was made at the 2025 Annual Conference of the Nigerian Association of Insurance and Pension Editors, themed “Strengthening Insurance and […]

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PenCom unveils new framework for pension fund performance

The National Pension Commission has issued a directive introducing a standardized framework for calculating and reporting investment performance across pension portfolios. The circular, signed by A.M. Saleem, Head of the Surveillance Department, and addressed to all Licensed Pension Fund Operators, came into effect on July 1, 2025. It establishes a uniform methodology aimed at improving […]

Business

FG, NLC resolve pension fund dispute after PenCom meeting

The Federal Government and the Nigeria Labour Congress have successfully resolved a contentious dispute over workers’ pension funds, following a high-stakes meeting with the National Pension Commission on August 29, 2025. The resolution averts a threatened nationwide strike, signaling a significant step toward stabilizing Nigeria’s pension sector. The meeting, hosted by PENCOM Director-General Omolola Oloworaran, […]

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PenCom recovers N4.57bn from defaulting employers in one year

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 […]

PenCom urges FG to raise Police Pension contribution to 20%
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PenCom considers new limits on alternative investments

The National Pension Commission says it is reviewing the share of funds that can be invested in infrastructure and private equity. The move is to boost returns on retirement savings, the commission’s spokesperson, Ibrahim Buwai, told Bloomberg on Tuesday. Buwai said PenCom is in the final stages of reviewing the limit on pension fund investments […]

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PenCom suspends seven mortgage banks over housing loan breaches

The National Pension Commission has suspended the acceptance and processing of equity contribution applications from seven Primary Mortgage Banks over alleged breaches of its housing loan guidelines. In a circular dated August 11, 2025, and signed by Obiora Ibeziako, Head of the Benefits and Insurance Department, PenCom directed all Pension Fund Administrators, including Closed PFAs, […]

FG appoints Opeyemi Agbaje as PenCom chairman after NLC ultimatum
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FG appoints Opeyemi Agbaje as PenCom chairman after NLC ultimatum

The Federal Government has appointed Mr Opeyemi Agbaje as Chairman of the National Pension Commission (PenCom), following mounting pressure from the Nigeria Labour Congress over the non-constitution of the commission’s governing board. Multiple sources within the NLC and the pension industry confirmed the appointment to on Saturday, though PenCom’s spokesman, Ibrahim Buwal, said there was […]

PenCom urges FG to raise Police Pension contribution to 20%
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PenCom urges FG to raise Police Pension contribution to 20%

The National Pension Commission has called on the Federal Government to raise its pension contribution for police officers from the current 10 per cent to 20 per cent, in a bid to improve the welfare of serving and retired personnel. PenCom’s Director General, Ms Omolola Oloworaran, made the appeal during a courtesy visit to the […]

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PenCom directive triggers push for pension clearance compliance nationwide

The National Pension Commission has sparked a surge in corporate compliance after directing companies to obtain Pension Clearance Certificates from all vendors and service providers. The order stems from a six-month deadline given in May 2025 to Licensed Pension Fund Operators, instructing them to enforce PCC compliance across their entire business network — including vendors, […]

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