Market News

By : Bankole Orimisan

The National Pension Commission (PenCom) has announced a tougher compliance regime, warning employers that the non-remittance of workers’ pension contributions would no longer be tolerated as it deepens enforcement across the country.

PenCom Director-General, Omolola Oloworaran, made the declaration at a training workshop for accredited recovery agents (RAs) held over the weekend in Lagos.

The DG, who was represented by the Commissioner of Inspectorate, Samuel Chigozie Uwandu, reaffirmed the commission’s resolve to clamp down on pension defaulters.

According to PenCom, a total of N32.27 billion, comprising N15.87 billion in unremitted pension contributions and N16.4 billion in penalties, was recovered from defaulting employers between June 2012 and September 2025.

The commission also recovered N2.06 billion from 49 employers in the third quarter of 2025 alone, marking what industry operators describe as the strongest enforcement momentum seen in recent years.

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

“Every unremitted naira represents a broken promise to a Nigerian worker. The era of impunity is over,” she said, noting that RAs are central to delivering the commission’s compliance strategy.

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

It also disclosed that a memorandum of understanding (MoU) with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) will allow the ICPC to hold directors and managers of recalcitrant companies accountable, introducing possible criminal consequences into pension enforcement.

The training featured technical sessions on employer audits, liability computation, negotiation, documentation, evidence management and the use of enhanced digital compliance tools.

Oloworaran urged RAs to uphold the highest ethical and professional standards as they execute the commission’s broadened mandate, assuring them of full institutional support.