The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the National Pension Commission (PenCom) have recovered over N3 billion unremitted pension contributions from employers.
The recovery was achieved through an ICPC-PenCom enforcement initiative aimed at addressing pension contribution defaults and protecting the retirement savings of workers.
The recovered funds, obtained from defaulting employers in the electricity sector, have been fully remitted into the respective Retirement Savings Accounts (RSAs) of affected employees in accordance with the provisions of 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.
PenCom signed a Memorandum of Understanding (MoU) with ICPC in October 2025 to establish a framework for collaboration on the recovery of unremitted pension contributions, investigation of pension-related infractions, and enforcement of compliance with the PRA 2014. Related News Pension assets add N385bn in May PFAs deepen investment in government securities NOG Week: Flybird to unveil advance drones, expand into offshore aviation services Sahara Group appoints Folake Soetan to lead Arahas Global Oilfield Services
