The Independent Corrupt Practices and Other Related Offences Commission (ICPC), in partnership with the National Pension Commission (PenCom), has recovered more than N3 billion in un-remitted pension contributions from defaulting employers.
The funds were retrieved through a joint enforcement initiative designed to tackle pension contribution defaults and safeguard the retirement savings of Nigerian workers.
According to a statement issued by the commissions, the recovered amount, largely from employers in the electricity sector, has been fully remitted into the respective Retirement Savings Accounts (RSAs) of the affected employees, in line with the Pension Reform Act (PRA) 2014.
“The recovery demonstrates the effectiveness of the partnership between PenCom and ICPC in enforcing compliance with the PRA 2014 and ensuring that employers fulfil their statutory pension obligations,” the statement said.
The two agencies had signed a Memorandum of Understanding (MoU) in October 2025 to strengthen collaboration on the recovery of unremitted contributions, investigation of pension-related offences, and overall enforcement of the PRA 2014.
The ICPC is currently investigating several private sector employers referred by PenCom for non-compliance. Authorities expect additional recoveries as these investigations continue.
Under the PRA 2014, employers are required to deduct and remit pension contributions into employees’ RSAs within seven working days of paying salaries. Failure to do so attracts sanctions, including recovery of outstanding contributions plus penalties, and possible prosecution.
The statement urged all employers, especially in the private sector, to regularise their pension remittances and ensure full compliance to avoid regulatory action.
PenCom reaffirmed its commitment to protecting workers’ retirement savings and promoting adherence to the Contributory Pension Scheme (CPS).
