The National Pension Commission (PenCom) has recovered ₦1.58 billion from non-compliant employers through intensified enforcement measures, according to its Director-General, Ms Omolola Oloworaran.
Speaking in Kano at the First Run 2025 Consultative Forum for States and the Federal Capital Territory (FCT), Oloworaran noted an improvement in state pension remittances, reflecting increased uptake of the Contributory Pension Scheme (CPS).
She revealed that, as of February, total pension assets under management had exceeded ₦23 trillion.
Despite this progress, Oloworaran highlighted ongoing challenges. Only 25 states and the FCT have enacted legislation to implement the CPS.
To address this, PenCom has introduced a more flexible model, allowing states to begin implementation with new staff or those with less than 10 years of service.
She added that the Commission is offering technical assistance to help states address legacy pension liabilities and transition their workforce in a financially sustainable way.
Reaffirming PenCom’s commitment to nationwide CPS adoption, Oloworaran described the forum as more than a routine gathering, calling it “a call to collective action.”
She encouraged participants to collaborate, exchange innovative ideas, and strengthen their commitment to a secure, inclusive pension system.
Earlier, Kano’s Head of Service, Alhaji Abdullahi Musa, reiterated the state government’s commitment to pension reform.
He praised PenCom’s role in promoting best practices and described the forum as a crucial platform for dialogue, learning, and policy development.
Musa noted that Kano had made notable strides in restructuring its pension scheme through a hybrid model that blends the defined benefits system with the CPS.
Under Governor Abba Kabir’s administration, the state has cleared ₦16 billion in pension arrears—roughly 40% of the liabilities inherited from previous governments.
