PenCom DG unveils ‘Pension Revolution 2.0’, ₦758bn disbursed, backlogs cleared

Orisemeke Benjamin

Director General National Pension Commission (PenCom) Dr. Omolola Oloworaran has declared that the Pension Revolution 2.0, will enhanced supervision, governance overhauls, digital upgrades, and industry realignment to fortify the system against future shocks.

Analysts say it is the most sweeping reforms since 2004 especially with new regulations that would further revitalised Nigeria’s pension landscape.

In a rousing address at the Pension Revolution Summit and 2025 Media Conference, where she presented a triumphant “365-Day Scorecard,” marking one year of transformative reforms, said the theme: “A 365-Day Scorecard” was more than a review—it’s a bold declaration of accountability and delivery for retirement security.

While highlighting that presidential approval for ₦758 billion to settle long-overdue pension liabilities—a powerful affirmation that Nigeria honors its workers ensured that retirees backlogs from as early as 2007 were cleared, Oloworaran added that zero-waiting-time payments for accrued rights kicked in from July 2025.

According to her, the injection of ₦2.68 billion monthly into CPS retirees’ payouts, translated to meals on tables, medicines afforded, dignity upheld saying that tech advancements automated clearance certificates, benefit processing, and remittances, slashing leakages and boosting transparency.

She said that higher capital requirements for operators have helped to eliminate shadow directorships ensuring integrity in the sector. “Pensions can’t be managed from the shadows,” Oloworaran stressed.

Addressing media concerns on non-remittance, The PenCom DG explained that a second quarter compliance circular tied Pension Clearance Certificates to industry participation. According to her, the result was that recoveries soared 180% to ₦4.04 billion (Jan-Nov 2025) from ₦1.44 billion in 2024, with Q3 alone at ₦2.06 billion. Certificate issuances jumped to ₦233 billion in Q3 from ₦150 billion quarterly averages.

“This isn’t celebration alone—it’s reckoning and recommitment,” she said, vowing expanded coverage, deeper trust, and robust supervision. To operators: “Innovation, compliance, excellence aren’t optional.” To media: “Your scrutiny keeps us accountable.”

She thanked industry leaders, PenCom staff, and partners, affirming that “The revolution is irreversible—inclusive, resilient, trusted.”