The National Pension Commission (PenCom) along with the Lagos Council of the Nigeria Labour Congress (NLC) will begin enforcement operations on June 1 to target employers who deduct workers’ pension contributions but fail to remit them under the Contributory Pension Scheme (CPS). NLC Lagos Chair Funmi Sesi announced the move after a PenCom-led session in Lagos that briefed labour leaders on the CPS and employers’ obligations under the Pension Reform Act.
Sesi condemned public and private employers who withhold pension deductions without transferring them to Pension Fund Administrators (PFAs), calling the practice a breach of labour laws that endangers workers’ post-retirement security. She warned the NLC would mobilise its affiliates to act against defaulting employers and pursue enforcement where necessary.
PenCom Director-General Omolola Oloworaran, represented by Ahmed Lawan of PenCom’s Compliance and Enforcement Department, also warned that deducting pension contributions without remittance is a criminal offence. She said PenCom and the NLC will carry out joint compliance monitoring and enforcement across Lagos beginning in June, and encouraged workers to report offenders with assurances that whistleblowers’ identities will be protected.
Separately, PenCom recently issued a temporary regulatory waiver allowing PFAs to invest in the Dangote Petroleum Refinery & Petrochemicals FZE IPO. The circular dated May 13, 2026, relaxes some investment restrictions as a one-off exception, a move PenCom framed as balancing protection of retirement savings with strategic investment opportunities.
