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The National Pension Commission (Pencom) has announced the recovery of ₦ 1.58 billion in defaulting employers through greater application efforts.
This information was shared by the general manager of Penn, Omolola Olowraran, Wednesday in Kano during the first consultative forum for the States of 2025 for the States and the Federal Capital Territory (FCT).
According to her, state remittances have also improved, reflecting a greater adoption of the contribution pension regime (CPS).
Olowraran observed that in February, total pension activities under the direction had passed ₦ 23 trillion.
He observed that, despite these progress, the challenges remain, since only 25 states and the territory of the federal capital (FCT) had issued laws to implement the CPS.
“You were managed hybrid patterns, while six others have invoices in the advanced legislative phases.
“There have been significant progress in Katsina, Yobe, Bauchi and Abia. However, the full implementation of the CPS is currently limited to eight states,” he explained.
To fill this gap, Pencom has introduced a flexible adoption model, allowing states to start implementation with new employees or those with less than 10 years of service.
The general manager also said that the Commission was providing technical support to help states in the planning of Legacy liabilities and for the transition of their entire workforce in a financially sustainable way.
He reaffirmed the commitment of the Commission in reaching the full onboarding of all states and FCT in the CPS.
“With prolonged dialogue, a technical collaboration and a strong political will, we are confident of achieving this goal,” he said.
Olowraran described the current forum as more than a simple routine meeting, calling it “a call to collective action”.
He urged the participants to seize this opportunity to co-creating solutions, share innovations and renew their commitment in a safe, unified and inclusive pension system.
Previously, Kano’s head of service (Hos), Alhaji Abdullahi Musa, reiterated the commitment of the state government for pensions reforms.
He praised Pencom for his leadership in promoting the best practices and described the forum as a “vital platform for dialogue, learning between peers and political refinement”.
Musa said that Kano’s state has made significant progress in the restructuring of its pension system, in particular through the adoption of a hybrid model that combined elements of the defined benefits and CPS.
He revealed that the state government, under the guidance of the governor Abbar Kabir, had taken daring measures to resolve pensions backward and improve the management of retirement services.
He added that the state government had paid ₦ 16 billion in suspense rights, which represented about 40 % of the liabilities inherited from previous administrations. (Nan)
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