The National Pension Commission (PenCom) in Nigeria has paid N577.26 billion to 1,053,000 Retirement Savings Accounts to clear pension backlogs.
Usman Musa, Head of PenCom’s Management Services Department, announced the payments at the 2025 PenCom Media Conference in Abuja.
These funds come from the N758 billion Federal Government bond approved to settle outstanding liabilities under the Contributory Pension Scheme.
PenCom has disbursed N362.7 billion for pension increases and N107 billion to cover contribution shortfalls from 2017 to 2021, reaching 750,232 accounts directly.
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Director-General Omolola Oloworaran described the bond disbursement as a historic milestone that honours commitments to workers and retirees.
The commission introduced Pension Post 1.0, adding N2.68 billion to monthly payments for Contributory Pension Scheme retirees since June 2025.
PenCom recovered N4.04 billion in contributions from January to November 2025, marking a 180 percent increase over the full 2024 figure.
The commission achieved full automation of key processes and inaugurated the Board of Trustees for the Pension Healthcare Initiative to support low-income retirees.
These developments strengthen Nigeria’s pension sector by enhancing benefit adequacy, compliance, and regulatory oversight under the Contributory Pension Scheme introduced in 2004.
