Total pension fund assets rise 2.2% to N26. 6trn
The total assets of the pension fund under the Contributory Pension Scheme (CPS) rose by 2.2 percent month-on-month (MoM), reaching N26.66 trillion in October 2025, an increase from N26.09 trillion in September 2025.
The National Pension Commission (PenCom) revealed this information yesterday in its unaudited report concerning the pension funds industry portfolio for the period ending 31 October 2025.
An analysis of the report indicated that a significant portion of the assets was allocated to federal government securities (FGN), which saw a 1.3 percent increase to N15.9 trillion, up from N15.7 trillion.
A detailed breakdown of the FGN securities revealed that N15.1 trillion was invested in FGN bonds, an increase from N14.9 trillion in September. Additionally, N686.2 billion was allocated to treasury bills, rising from N616.3 billion, while N2.16 trillion was invested in corporate debt securities, a decrease from N2.24 trillion.
As of 31 October 2025, the total membership of Retirement Savings Accounts (RSA) was recorded at 10,970,979, an increase from 10,928,039.
In the meantime, the Director General of PenCom, Ms. Omolola Oloworaran, stated that the Commission has initiated a new phase of zero tolerance towards pension defaults, with accredited Recovery Agents being pivotal to Nigeria’s social contract with its workforce.
Oloworaran emphasized that there is a renewed nationwide effort to ensure compliance in recovering outstanding pension contributions and penalties from employers who consistently breach the Pension Reform Act (PRA) 2014, which requires the remittance of pension contributions within seven working days following salary payments.
The Director General reiterated PenCom’s dedication to enforcing rigorous compliance throughout the pension sector.
Currently, PenCom employs Recovery Agents to audit employers who default, calculate outstanding pension liabilities, issue demand notices, and assist in the recovery of unremitted pension contributions. The role of Recovery Agents has been crucial in ensuring compliance since the commencement of the recovery initiative in 2012.
PenCom data indicates that the Commission has successfully recovered a total of N32.27 billion, which includes N15.87 billion in principal contributions and N16.40 billion in penalties from employers who have defaulted, during the period from June 2012 to September 2025.
Furthermore, PenCom achieved notable compliance improvements in the third quarter of 2025, recovering N2.06 billion (comprising N775 million in principal and N1.27 billion in penalties) from 49 employers who defaulted, demonstrating a consistent increase in enforcement activities.
Oloworaran remarked that despite the achievements of the Contributory Pension Scheme (CPS), ongoing defaults by employers pose a significant threat to the core objective of the system.
"Every unremitted Naira signifies a broken commitment to a Nigerian worker. This Commission has transitioned from encouraging voluntary compliance to enforcing mandatory compliance. The time of impunity has concluded."
The Director General of PenCom also highlighted to the attendees the recently signed Memorandum of Understanding (MoU) with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which grants the ICPC the authority to hold the management of non-compliant employers personally liable, thereby making pension defaults a matter that could lead to criminal charges.
"This MoU represents a crucial advancement in strengthening our recovery initiatives. No employer should believe that failing to remit workers’ pensions will go unpunished," the DG asserted.
