PenCom expresses displeasure as only 8 Out Of 25 States Are Implementing CPS In Nigeria

By allcitynews.ng

The National Pension Commission (PenCom) has explained displeasure over the slow response by Nigerian workers despite efforts put in place to bring everyone under the umbrella of Contributory Pension Scheme (CPS).

The Apex pension regulatory body revealed that only eight out of 25 states across Nigeria are currently fully implementing the Contributory Pensions Scheme (CPS) in their states.

The Director General of the National Pension Commission (PenCom), Omolola Oloworaran, made the revelation yesterday while delivering an address at the First Run 2025 Consultative Forum For States and FCT in Kano.

“Today, 25 states and the FCT have enacted CPS laws. Six others operate hybrid schemes, and another six have bills at advanced stages. Noteworthy progress has been made in Katsina, Yobe, Bauchi, and Abia States but full implementation remains limited to only eight states.

“To bridge this gap, the Commission is offering a flexible adoption model, allowing states to start with new employees or those with fewer than 10 years of service. We are also providing support to help states plan for legacy obligations and migrate their entire workforce in a financially sustainable way.

“Ladies and Gentlemen, The destination is clear: full onboarding of all states and the FCT into the CPS. And I am confident that through sustained dialogue, technical collaboration, and strong political resolve, we will reach this goal together.

“Colleagues and partners, this Forum is more than a meeting. It is a call to collective action. Let us use this moment to co-create solutions, share innovations, and recommit ourselves to the vision of a secure, unified, and inclusive pension system,” she stated.

She further revealed that President Bola Ahmed Tinubu approved a ₦758 billion bond to settle accrued rights and Pension increases from almost two decades ago, fund the Pension Protection Fund, and ensure full salary payments for professors at retirement.

She added that the Commission has also automated Pension Clearance Certificate issuance, boosting efficiency and transparency, and also launched a Consumer Protection Framework to safeguard contributors’ rights.

“Through more robust enforcement, we recovered ₦1.58 billion from defaulting employers,” she said.

She added that state remittances have improved, signaling growing adoption of the CPS and that as of February 2025, pension assets under management have surpassed ₦23 trillion.

Delivering a keynote address, the Kano State Head of Service, Abdullahi Musa, explained that the administration of Abba Yusuf has taken proactive measures and resolved all pending issues, policies, or bottlenecks affecting the smooth functioning of the civil service while assuring that the sacrifices of yesterday’s workers will never be forgotten.

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