The National Pension Commission (PenCom) has recovered a total of N4.57 billion from defaulting employers between Q1 2024 and Q1 2025, according to the Pension Fund Operators Association of Nigeria (PenOp).
PenOp’s CEO, Mr. Oguche Agudah, revealed the breakdown:
N2.12 billion from unpaid pension contributions
N2.45 billion in penalties
These funds were recovered from 138 employers who failed to remit their employees’ pension contributions.
Agudah emphasized that PenCom’s enforcement efforts are aimed at protecting workers’ retirement savings.
“We’re moving beyond periodic crackdowns to long-term solutions, like real-time monitoring, tougher penalties for repeat offenders, and better employer education,” Agudah said.
He stressed that the ultimate objective is not just headline recoveries but to ensure fewer defaults, timely remittances and a ore predictable and secure Contributory Pension Scheme.
Quarterly Recovery Breakdown:
Q1 2024:
N751.51 million in contributions
N1.44 billion in penalties
Q1 2025:
N972.12 million in contributions
N381.88 million in penalties
19 employers involved
Average recovery: N71 million per employer (vs. N63 million in Q1 2024)
Agudah noted that while overall recoveries dipped mid-2024, enforcement efforts ramped up again by Q4 and into early 2025.
The rising average recovery per employer indicates that PenCom is now targeting larger, more serious violators, while the total number of defaulting companies is on the decline.
He also reminded workers of their rights, stating that employers with three or more staff are legally obligated to make pension contributions.
There are whistleblowing channels available for employees to report non-compliance.
