The National Pension Commission (PenCom) has recovered a total of N4.57 billion from defaulting employers between the first quarter of 2024 and the first quarter of 2025, reinforcing its commitment to protecting workers’ retirement savings under Nigeria’s Contributory Pension Scheme.
This was disclosed by Mr. Oguche Agudah, Chief Executive Officer of the Pension Fund Operators Association of Nigeria (PenOp), during an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos.
Agudah explained that the recovered sum includes N2.12 billion in outstanding pension contributions and N2.45 billion in penalties imposed on 138 employers who failed to remit pension funds as required by law.
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, alongside Finance Minister Wale Edun and Minister of Industry, Trade & Investment, Dr. Jumoke Oduwole, participated in an investment roundtable hosted by CitiBank in São Paulo, Brazil.
The meeting took place on the sidelines of President Bola Ahmed Tinubu’s State Visit to Brazil on August 26, 2025, focusing on strengthening economic ties and driving foreign investment into Nigeria.