The National Pension Commission (PenCom) yesterday announced the recovery of N1.58 billion from defaulting employers.

D i r e c t o r- G e n e r a l Omolola Oloworaran made the anoucement in Kano during the First Run 2025 Consultative Forum for States and the Federal Capital Territory (FCT).

According to her, state remittances have also improved, reflecting a greater adoption of the Contributory Pension Scheme (CPS).

Oloworaran said as of February, total pension assets under management had surpassed N23 trillion. She said despite these advancements, challenges remain as only 25 states and the FCT had enacted laws to implement the CPS.

The DG said: “Six states operate hybrid schemes, while another six have bills at advanced legislative stages. “Notable progress has been made in Katsina, Yobe, Bauchi, and Abia. However, full implementation of the CPS is currently limited to eight states.”

To address this gap, PenCom has introduced a flexible adoption model, allowing states to begin implementation with new employees or those with fewer than 10 years of service.

Oloworaran said the commission was providing technical support to assist states in planning for legacy liabilities and transitioning their entire workforce in a financially sustainable manner.