PenCom Seeks EFCC’s Intervention Over Employers’ Failure to Remit Workers’ Pension Contributions
The National Pension Commission (PenCom) has sought the support of the Economic and Financial Crimes Commission (EFCC) to tackle pension fraud and recover billions of naira allegedly withheld by employers across the country.
The Director-General of PenCom, Omolola Oloworaran, made the appeal on Thursday, October 5, 2026, when she led a delegation from the commission on a visit to the EFCC headquarters in Abuja.
Oloworaran expressed concern over the growing practice of employers failing to remit mandatory pension contributions into their employees’ Retirement Savings Accounts (RSAs), despite deducting the funds from their salaries.
She explained that while employers are required to contribute 10 per cent of employees’ salaries, workers are also expected to contribute 8 per cent. However, some employers allegedly deduct both contributions but fail to transfer the money into the workers’ retirement accounts.
Describing the development as disturbing, the PenCom boss commended the EFCC for its efforts in fighting corruption and expressed confidence in its capacity to investigate the alleged financial misconduct and bring those responsible to justice.
“Employees are stealing from Nigerians. And we need a way to recover this monies from them. We are looking for a more effective way to manage this situation. We believe you can help us. We think that the EFCC is better placed to manage this issue,” she said.
Also speaking, Ahmed Lawan, Acting Director of the Compliance and Enforcement Department at PenCom, said employers’ failure to remit deducted pension contributions had deprived many workers of their retirement benefits and subjected retirees to unnecessary hardship.
He called for an effective framework of collaboration between PenCom and the EFCC to address the situation.
Responding, EFCC Chairman, Ola Olukoyede, described the practice as fraudulent and assured PenCom that the commission would investigate the allegations and ensure that perpetrators face justice.
Olukoyede, who was represented by the EFCC Chief of Staff, Commander Michael Nzekwe, said the matter would receive accelerated attention.
He further assured that the commission would take necessary steps to ensure the recovery of outstanding pension contributions.
“That’s fraud. We have had to deal with such issues before now. We will deal with this one also. We will look deeply into it; and I can assure whatever needs to be done would be done to ensure all the outstanding monies are recovered,” he stated.
