PenCom
Oct. 28, 2025
The Director-General (D-G) of National Pension Commission (PenCom), Mrs Omolola Oloworaran, said the Memorandum of Understanding (MoU) it entered with ICPC would help recover unremitted pension contributions and enforce pension compliance.
She said that the MoU is to ensure prompt disbursement of recovered funds into Retirement Savings Accounts (RSA) and hold defaulting employers accountable under the law.
“To ensure efficiency, both institutions have designated focal officers, the Director of Operations for ICPC and the Director of Surveillance for PenCom to drive information sharing, investigation and enforcement with speed and precision.”
The D-G said that the partnership marked a new era in the protection of workers’ retirement savings and the integrity of pension fund management in the country.
“This ceremony goes far beyond the signing of a document.
“It signifies a shared moral and institutional commitment, a partnership rooted in our collective resolve to strengthen integrity, transparency and judicious management of pension fund assets,” Oloworaran said.
She said that the pension system was built on trust as millions of Nigerian workers rely on the pension scheme to secure their dignity in old age.
“Our duty, both as regulators and as anti-corruption enforcers, is to ensure that this trust is never broken.
“Every naira deducted by employers must be remitted and every contribution must be properly accounted for,” Oloworaran said.
The D-G said that some persistent challenges, including unapplied contributions under the Integrated Payroll and Personnel Information System (IPPIS) and unremitted pension liabilities by some employers.
“These lapses are not mere administrative oversights, they threaten the livelihood and security of Nigerian workers.
“This is why today’s MoU matters. It provides a clear and coordinated framework to address these challenges,” she said.
Oloworaran, commended the leadership of the ICPC for their support and shared vision, their collaboration reflects a joint moral duty to uphold integrity in public service.
“Together, we are demonstrating that public institutions can and must work in concert for the good of the Nigerian people.
“This partnership is not the end, but a new beginning one that will deepen transparency, rebuild trust and safeguard the future of millions of Nigerian workers,” she said.
The Chairman of ICPC, Dr Musa Aliyu, said that the commission would ensure that those responsible are held accountable and that every worker gets what they deserve upon retirement.
Aliyu whom was represented by the Secretary of ICPC, Mr Clifford Oparaodu, said that the commission would combine enlightenment with enforcement to ensure employers understand their obligations and face consequences if they fail to comply.
“We will not disappoint you, we will work with PenCom to recover unremitted funds and ensure that every Nigerian worker enjoys the fruit of their labour,” the chairman said.
He commended PenCom for initiating the partnership, reiterated the commission’s full cooperation in enforcing compliance, particularly in the private sector where violations are often rampant. (NAN)
