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FG targets 6500 megawatts power generation in six months

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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 […]

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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, […]

Business

PenCom, HOS partner on gratuity framework for civil servants

The National Pension Commission and the Office of the Head of the Civil Service of the Federation have agreed to collaborate on developing a gratuity framework for civil servants in treasury-funded ministries, departments, and agencies under the Contributory Pension Scheme. PenCom disclosed this in a statement on Tuesday, following a courtesy visit by its Director-General, […]

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PenCom launches N1.3b recovery drive for journalists’ unpaid pension contributions

The National Pension Commission has launched a recovery effort to secure over N1.3 billion in unpaid pension contributions owed to journalists by newspaper organizations across Nigeria, according to PenCom Director-General, Ms. Omolola Oloworaran. Speaking during a visit to the Nigerian Press Council in Abuja, Oloworaran highlighted widespread non-compliance with the Pension Reform Act 2014 (PRA […]

Business

PenCom targets power firms in crackdown on pension non-compliance

The National Pension Commission is escalating its efforts to recover billions of naira in unpaid pension contributions from electricity generation and distribution companies, signaling a crackdown on non-compliance in the power sector. In a statement on Sunday, PenCom Director-General, Omolola Oloworaran recently led a delegation to the Nigerian Electricity Regulatory Commission, urging the regulator to […]

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PenCom grants PFAs full authority to approve retirement benefits

The National Pension Commission has introduced a new directive that empowers Pension Fund Administrators to approve and process various categories of retirement benefits without prior authorization from the commission. This policy, set to take effect on June 1, 2025, aims to streamline pension payments and eliminate bureaucratic bottlenecks within Nigeria’s Contributory Pension Scheme. Previously, PFAs […]

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