Hussaini Umar
The Independent Corrupt Practices and Other Related Offences Commission (ICPC), working with the National Pension Commission (PenCom), has recovered more than ₦3 billion in unremitted pension contributions from employers that failed to meet their statutory obligations.
According to PenCom, the recovered funds have been credited to the Retirement Savings Accounts (RSAs) of affected workers, providing relief to employees whose pension deductions had previously not been remitted by their employers.
The commission disclosed that the recovered contributions came from defaulting employers in the electricity sector through a joint enforcement initiative established to strengthen compliance with the Pension Reform Act 2014. The initiative is aimed at safeguarding workers’ retirement savings while ensuring employers fulfil their legal responsibilities.
PenCom said the recovery demonstrates the effectiveness of its partnership with the ICPC in tackling pension-related violations. The collaboration was formalised through a Memorandum of Understanding (MoU) signed in October 2025, enabling both agencies to jointly investigate pension infractions, recover unpaid contributions and prosecute offenders where necessary.
The commission also revealed that several investigations involving private-sector employers are ongoing following referrals made to the ICPC. It expressed confidence that additional recoveries are expected as enforcement actions continue.
Under the Pension Reform Act 2014, employers participating in Nigeria’s Contributory Pension Scheme are required to deduct pension contributions from employees’ salaries and remit them into their Retirement Savings Accounts within seven working days after salary payment. Failure to comply attracts sanctions under the law.
The latest recovery underscores renewed efforts by regulatory and anti-corruption agencies to improve compliance with pension laws and strengthen confidence in Nigeria’s pension administration system.
