By allcitynews.ng
The National Pension Commission (PenCom) has secured the support of the Nigerian Electricity Regulatory Commission (NERC) to compel electricity Generation Companies (GENCOs) and Distribution Companies (DISCOs) to remit outstanding pension contributions for their employees.
During a courtesy visit to NERC’s headquarters on April 25, 2025, PenCom’s Director General, Ms. Omolola Oloworaran, led a delegation to seek regulatory collaboration in enforcing pension compliance.
She revealed that 16 power firms have failed to remit billions of naira in pension contributions and accrued penalties, despite repeated warnings, enforcement actions, and an attempted out-of-court settlement.
Oloworaran called on NERC to make a valid Pension Clearance Certificate from PenCom a mandatory requirement for licensing, permit renewals, and other regulatory approvals, in line with the Pension Reform Act 2014 (PRA 2014).
She noted that as the regulator of the electricity sector, NERC has a pivotal role in ensuring that operators under its jurisdiction meet their statutory obligations by deducting and remitting monthly pension contributions into employees’ Retirement Savings Accounts (RSAs).
While PenCom had previously engaged Recovery Agents to trace and recover outstanding pension debts, many electricity companies reportedly continue to flout compliance directives, undermining workers’ retirement security.
Responding to PenCom’s request, NERC Chairman Engr. Sanusi Garba assured the pension regulator of full support. He emphasized the need for a detailed reconciliation of outstanding liabilities and expressed commitment to a sustainable resolution.
To strengthen enforcement, both agencies agreed to form a joint working group that will develop strategies for ensuring full pension compliance across the electricity industry.
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