The National Pension Commission (PenCom) has announced the recovery of N1.58 billion from defaulting employers through enhanced enforcement efforts, with pension assets hitting N23 trillion.
This information was shared by the Director General of PenCom, Omolola Oloworaran, on Wednesday in Kano, the Kano State capital.
Oloworaran said this during the First Run 2025 Consultative Forum for States and the Federal Capital Territory.
According to her, state remittances have also improved, reflecting a greater adoption of the Contributory Pension Scheme (CPS).
She noted that as of February, total pension assets under management had surpassed N23 trillion.
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She noted that in spite of these advancements, challenges remain as only 25 states and the Federal Capital Territory had enacted laws to implement the CPS.
Oloworaran said: “Six states operate hybrid schemes, while another six have bills at advanced legislative stages.
“Notable progress has been made in Katsina, Yobe, Bauchi, and Abia States.
“However, full implementation of the CPS is currently limited to eight states.”
To address this gap, PenCom has introduced a flexible adoption model, allowing states to begin implementation with new employees or those with fewer than 10 years of service.
The Director General further stated that the commission was providing technical support to assist states in planning for legacy liabilities and transitioning their entire workforce in a financially sustainable manner.
She reaffirmed the commission’s commitment to achieving full onboarding of all states and the FCT into the CPS.
“With sustained dialogue, technical collaboration, and strong political will, we are confident of reaching this goal,” she said.
Oloworaran described the ongoing forum as more than just a routine meeting, calling it “a call to collective action”.
She urged participants to seize this opportunity to co-create solutions, share innovations, and renew their commitment to a secure, unified, and inclusive pension system.
Earlier, the Head of the Kano State Civil Service, Alhaji Abdullahi Musa, reaffirmed the state government’s commitment to pension reforms.
He commended PenCom for its leadership in promoting best practices and described the forum as a “vital platform for dialogue, peer learning, and policy refinement”.
Musa said that Kano State had made significant progress in restructuring its pension system, notably through the adoption of a hybrid model that combined elements of the defined benefits and the CPS.
He revealed that the state government, under the leadership of Governor Abba Kabir, had taken bold steps to settle pension backlogs and improve the management of retirement benefits.
He added that the state government had paid N16 billion in outstanding entitlements, which represented about 40 percent of the liabilities inherited from previous administrations.
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