The National Pension Commission (PenCom) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have signed a Memorandum of Understanding (MoU) aimed at recovering unremitted pension contributions and enforcing compliance across sectors.
The agreement was formalized on Tuesday during a signing ceremony in Abuja, where PenCom Director-General, Mrs. Omolola Oloworaran, emphasised the significance of the partnership in strengthening accountability and transparency in pension fund management.
“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 stated.
She explained that the MoU outlines a coordinated framework for prompt disbursement of recovered funds into Retirement Savings Accounts (RSAs) and mandates legal action against defaulting employers.
To ensure operational efficiency, both agencies have appointed focal officers—the Director of Operations for ICPC and the Director of Surveillance for PenCom—to lead joint efforts in information sharing, investigation, and enforcement.
Oloworaran highlighted persistent challenges in the pension system, including unapplied contributions under the Integrated Payroll and Personnel Information System (IPPIS) and unremitted liabilities by some employers. She warned that these issues are more than administrative lapses—they pose serious threats to the financial security of Nigerian workers.
“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,” she said.
Commending ICPC’s leadership for their support, Oloworaran described the collaboration as a moral imperative 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 added.
Representing ICPC Chairman Dr. Musa Aliyu, the Commission’s Secretary, Mr. Clifford Oparaodu, reaffirmed ICPC’s commitment to the initiative. He noted that the Commission would combine public enlightenment with enforcement to ensure employers understand their obligations and face consequences for non-compliance.
“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,” Aliyu said.
The partnership is expected to enhance pension compliance, particularly in the private sector, where violations are reportedly more frequent.