National Pension Commission (PenCom) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have recovered more than N3 billion in unremitted pension contributions from defaulting employers in the electricity sector in the country.
‎Industry stakeholders described the move as a major step towards strengthening compliance with Nigeria’s pension laws.
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The recovered funds have been fully credited into the Retirement Savings Accounts (RSAs) of affected employees in accordance with the provisions of the Pension Reform Act (PRA) 2014.
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PenCom, in a statement issued yesterday and received by The Guardian, said the recovery was achieved through a joint enforcement initiative with the anti-graft agency aimed at protecting workers’ retirement savings and ensuring that employers comply with their statutory obligations under the Contributory Pension Scheme (CPS).

According to the commission, the development underscores the effectiveness of its collaboration with the ICPC in addressing pension contribution defaults and preventing workers from being denied their retirement benefits due to the failure of employers to remit deducted pension contributions.
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To strengthen enforcement efforts, PenCom and the ICPC signed a Memorandum of Understanding (MoU) in October 2025, establishing a framework for collaboration on the recovery of outstanding pension contributions, investigation of pension-related infractions and prosecution of offenders where necessary.
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The commission disclosed that several private sector employers referred to the ICPC for alleged violations of the PRA 2014 are currently under investigation, with additional recoveries expected as the investigations progress.
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Speaking on the development, PenCom Director General, Omolola Oloworaran, said the commission would continue to deploy all legal and regulatory measures to ensure that workers’ pension contributions are protected.