In a decisive effort to protect the retirement savings of Nigerian workers, the National Pension Commission (PenCom) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have entered into a formal partnership to recover unremitted pension contributions from defaulting employers across the country.
The collaboration, sealed through a Memorandum of Understanding (MoU) signed in Abuja, signals a renewed national push to strengthen compliance with the Pension Reform Act (PRA) 2014, enhance accountability in the private and public sectors, and safeguard the integrity of the nation’s ₦18 trillion pension industry.
Speaking at the ceremony, PenCom’s Director-General, Mrs Omolola Oloworaran, described the partnership as a milestone in the Commission’s ongoing reforms to restore confidence in the contributory pension system.
“The pension system, at its core, is about trust, the confidence of millions of Nigerian workers who, month after month, entrust a portion of their hard-earned income to secure dignity in old age,” Oloworaran said.
“Our collective 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; every contribution must be properly accounted for,” she added.
The PenCom chief noted that while the Commission has made “significant progress” in enforcing compliance with the Pension Reform Act, gaps persist, particularly in dealing with unapplied contributions on the Integrated Data Platform (IDP) and unremitted liabilities by some employers.
“These lapses are not mere administrative oversights. They pose a direct threat to the livelihood and future security of Nigerian workers. That is why today’s MoU is so critical — it provides a coordinated, practical framework to address these challenges head-on,” she said.
Under the new arrangement, PenCom and the ICPC will jointly deploy their technical, regulatory, and investigative capacities to identify, investigate, and sanction organisations that fail to remit deducted pension contributions to employees’ Retirement Savings Accounts (RSAs).
PenCom will lead regulatory oversight and data verification, while the ICPC will leverage its investigative and enforcement powers to ensure full compliance and recovery of outstanding liabilities.
Recovered funds are to be promptly remitted to affected workers’ RSAs under strict verification procedures.To enhance coordination, both agencies have designated focal points — the Director of Operations for the ICPC and the Director of Surveillance for PenCom — to facilitate information sharing, investigations, and enforcement actions.
Oloworaran emphasised that beyond institutional synergy, the partnership carries a moral obligation.
“This partnership is not merely institutional; it is moral. It reflects our shared belief that public service is a sacred trust.
“We are determined to rebuild confidence in the pension system and ensure that every Nigerian worker receives, in full and without delay, the benefits they have diligently earned,” she said.
She lauded the ICPC leadership for demonstrating commitment to public accountability, noting that the alliance exemplifies how government institutions can collaborate effectively for the common good.
The Chairman of the ICPC, Dr Musa Aliyu, represented by the Commission’s Executive Secretary, Mr Clifford Oparaodu, said the partnership will pay special attention to the private sector, where he disclosed that “significant pension liabilities remain unremitted”.
“Over time, enforcement has focused mainly on the public sector, but the biggest challenge lies in the private sector.
Many employers prioritise profit over compliance, withholding workers’ pension deductions. With this MoU, we are better equipped to compel compliance and recover what rightfully belongs to Nigerian workers,” Aliyu said.
Aliyu stressed that the ICPC’s approach will combine education with enforcement, explaining that awareness campaigns will continue, but deliberate non-compliance will attract the full weight of the law.
“We always start with education, telling people what the law requires. But when you know what to do and still refuse to comply, we will go the other way.
Our duty is to ensure that every worker receives what they have earned after years of service,” he warned.
The ICPC chairman revealed that the Commission has already achieved several recoveries from defaulting organisations in sectors such as power distribution, public utilities, and construction.
He cited the case of the Port Harcourt Electricity Distribution Company (PHEDC), which, following investigations, was compelled to refund substantial unremitted pension liabilities to affected employees.
According to background documents presented at the signing, the MoU establishes a structured framework for collaboration aimed at ensuring effective recovery and remittance of pension liabilities.
PenCom is expected to:
Submit verified petitions to the ICPC against defaulting employers; provide data on affected employees and confirm remittances after recovery; and maintain updated records to track recovered contributions.
The ICPC, on its part, will:
Investigate and enforce payment of outstanding contributions; confirm that recovered funds are duly remitted; and share relevant investigation updates with PenCom for accountability.
Both agencies have agreed to hold quarterly review meetings to assess progress, share intelligence, and refine enforcement strategies.
The MoU also contains provisions for confidentiality, transparency, and mutual good faith, ensuring that both agencies uphold high ethical standards in the execution of their duties.
While the document is not legally binding, officials from both institutions stressed that it underscores their shared moral and institutional responsibility to safeguard workers’ savings and uphold the public interest.
“This collaboration reflects a collective commitment to accountability, not just in words but in measurable actions. We are sending a clear message that the era of impunity in pension administration is coming to an end,” Oloworaran added.
The partnership between PenCom and the ICPC is expected to enhance the enforcement of pension remittance compliance across Nigeria’s formal sector, which currently covers over 10 million contributors.
Industry experts say that beyond protecting workers’ rights, improved compliance will strengthen Nigeria’s pension fund base, promote financial system stability, and support long-term capital market growth, given the crucial role of pension assets in funding infrastructure and private sector investment.
The move also comes at a time when the Commission is seeking to expand coverage to the informal sector through the Micro Pension Plan, making effective oversight even more critical to sustaining confidence in the system.
Observers say the alliance between PenCom and the ICPC sends a strong signal that pension evasion will no longer be tolerated and that defaulting employers, public or private, will be held accountable.
With the signing of the MoU, both agencies are expected to begin joint audits and investigations in the coming months, targeting sectors with large unremitted liabilities.
The ICPC has also hinted at establishing a dedicated desk for pension enforcement as part of its anti-corruption framework.
The PenCom DG expressed optimism that the partnership will deliver tangible results.“We are confident that this collaboration will lead to measurable recoveries, improved compliance, and renewed confidence among Nigerian workers.
Together, we can protect the dignity of labour and the future of millions who have contributed to building this nation,” she said.