August 27, 2025 — The National Pension Commission (PenCom) has recovered a total of N4.57 billion from defaulting employers over the last five quarters, according to the Chief Executive Officer of the Pension Fund Operators Association of Nigeria (PenOp), Oguche Agudah.
Agudah, who disclosed this during a media briefing in Lagos, explained that the recoveries were made following PenCom’s strict compliance enforcement on companies failing to remit workers’ pension contributions as required by law. He noted that the recovered funds have since been credited to employees’ Retirement Savings Accounts (RSAs), ensuring workers’ benefits remain protected.
The PenOp boss stressed that consistent monitoring and enforcement remain key to sustaining confidence in Nigeria’s contributory pension scheme. He also highlighted the role of pension operators in collaborating with regulators to guarantee transparency and accountability within the sector.
Agudah urged employers to prioritize pension remittances, warning that penalties and sanctions await defaulters under the Pension Reform Act. He added that the industry’s growing asset base, now valued at over N20 trillion, remains a critical pillar for national economic development.
