The National Pension Commission (PenCom) has said that the total value of pension assets under management had surpassed N23 trillion as of February 2025.
Director-General (DG) of PenCom, Omolola Oloworaran, stated this on Wednesday in Kano, during the first run 2025 consultative forum for states and the Federal Capital Territory (FCT).
Oloworaran said PenCom recovered N1.58 billion from defaulting employers through enhanced enforcement efforts. She also said state remittances have shown improvement, reflecting a greater adoption of the contributory pension scheme (CPS).
Despite the gains, the DG said challenges persist, with only 25 states and the FCT having passed laws to implement the CPS. “Six states operate hybrid schemes, while another six have bills at advanced legislative stages,” she said.
Inflation rises, food prices soar — Nigeria’s cost of living crisis worsened in March 2025 as food inflation surged to 21.79 per cent year-on-year, the National Bureau of Statistics (NBS) has said.
