The National Pension Commission said it has recovered over N4.04 billion in unremitted pension contributions between January and November 2025.
This represents an increase of more than 180 per cent compared with the N1.44 billion recovered in the entire 2024 financial year.
Director-general of PenCom, Omolola Oloworaran, disclosed this while presenting her one-year scorecard at the Pension Revolution Summit and 2025 Media Conference.
While speaking on the long-standing challenge of pension non-remittances, Oloworaran said decisive regulatory action by the commission was responsible for the sharp rise in recoveries.
Oloworaran said: “PenCom issued a decisive compliance circular in the second quarter of this year, linking Pension Clearance Certificates to participation across the pension industry value chain.”
The director-general pointed out that the impact of the directive was immediate.
“From January to November 2025, total pension recoveries reached N4.04bn, compared to N1.44bn for the whole of 2024. This represents an increase of over 180 per cent. Most notably, N2.06bn was recovered in the third quarter of 2025 alone, almost 150 per cent of total recoveries recorded in the entire year 2024,” she stated.
She further pointed out that improved compliance was also reflected in the volume of Pension Clearance Certificates issued. She said that before the third quarter of 2025, certificates were issued at an average quarterly value of about N150 billion, but rose sharply to about N233 billion in the third quarter following the circular.
“This clearly demonstrates that when compliance is tied to real economic consequences, behaviour changes,” Oloworaran said.
She noted that the recovery drive formed part of a broader reform agenda she inherited upon her confirmation as Director-General about a year ago, with a mandate to rebuild trust, expand coverage, strengthen governance and reposition the Contributory Pension Scheme.
“I am proud to say that this past year has been defined by bold decisions, structural reforms, and measurable impact,” she said. Oloworaran described the launch of Pension Revolution 2.0 as the most far-reaching reform in the pension industry since 2004.
“This was not cosmetic reform. It was structural. It brought together new regulations, stronger supervision, governance reforms, digital transformation, and industry realignment, all designed to future-proof the pension system and position it as a pillar of national stability and long-term development,” she added.
The Director-general also cited the Presidential approval and disbursement of N758 billion to clear outstanding pension liabilities as one of the most historic milestones of the year.
“This unprecedented intervention sent a clear and powerful signal that Nigeria honours its promises to its workers and retirees,” she said, adding that pension increase backlogs for Federal Government treasury-funded retirees, some dating back to 2007, had been cleared.
The PenCom boss further disclosed that zero waiting time for the payment of accrued pension rights was restored from July 2025, ensuring that retirees now receive their entitlements when due. To enhance benefit adequacy, she said the commission introduced Pension Boost 1.0, which has added N2.68bn to monthly pension payments for retirees under the Contributory Pension Scheme.
“These are not just numbers. They are meals on tables, medicines purchased, and dignity preserved,” she said.
On operational efficiency, Oloworaran said PenCom achieved full automation of key pension processes, including benefit processing, contribution remittance platforms, and the Pension Clearance Certificate system, leading to reduced leakages and improved transparency.
She also announced the inauguration of the board of trustees of the PenCare Initiative, an industry-wide intervention designed to provide free and accessible healthcare for low-income retirees. “Retirement should be a season of peace, not a period defined by anxiety over medical bills,” she said.
As part of efforts to expand coverage, Oloworaran said the Micro Pension Plan was restructured and rebranded into the Personal Pension Plan to better serve informal sector workers such as artisans, traders, gig workers, and creatives. Under the new structure, she said, the commission introduced Accredited Pension Agents to drive enrolment and job creation.
“Let me be clear, Accredited Pension Agents are not merely distribution channels. They are an employment strategy. Thousands of young Nigerians are expected to be trained, certified, and deployed as pension professionals.”
