By Opeyemi Adelakun
The National Pension Commission (PenCom), in collaboration with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), has recovered more than N3 billion in unremitted pension contributions from defaulting employers in Nigeria’s electricity sector.
PenCom disclosed on Wednesday that the recovered funds had been fully credited to the Retirement Savings Accounts (RSAs) of affected workers, describing the recovery as a major enforcement milestone under the Pension Reform Act (PRA) 2014.
The commission said the recovery followed a joint enforcement initiative with the ICPC aimed at compelling employers to comply with statutory pension remittance obligations and protecting workers’ retirement savings.
PenCom noted that the partnership with the anti-corruption agency, formalised through a Memorandum of Understanding signed in October 2025, has strengthened the recovery of outstanding pension contributions and the investigation of pension-related infractions.
The commission also revealed that several private-sector employers are currently under investigation for alleged non-compliance with the pension law, adding that more recoveries are expected as the investigations progress.
It reminded employers that pension deductions must be remitted into employees’ Retirement Savings Accounts within seven working days after salary payments, warning that defaulters face recovery of outstanding contributions, financial penalties and possible prosecution.
PenCom urged employers, particularly those in the private sector, to regularise their pension remittances and comply fully with the Pension Reform Act to avoid regulatory sanctions.
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