The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has entered into a strategic partnership with the National Pension Commission (PenCom) to combat pension fraud and strengthen transparency within the sector.
By Chimezie Godfrey
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has entered into a strategic partnership with the National Pension Commission (PenCom) to combat pension fraud and strengthen transparency within the sector.
The Memorandum of Understanding (MoU) formalizing the partnership was signed on Tuesday at the PenCom Headquarters in Abuja.
Speaking during the ceremony, the ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, represented by the Commission’s Secretary, Mr. Clifford Okwudiri Oparaodu, described the collaboration as a vital step in ensuring compliance with the Pension Reform Act and protecting the rights of Nigerian workers.
Dr. Aliyu emphasized the need to extend pension compliance efforts beyond the public sector to the private sector, noting that “the law allows us to do so, and at the end of the service year, an average employee in the private sector will be happy when retiring.”
He reaffirmed the Commission’s commitment to enforcement, stating that ICPC would ensure full compliance with pension regulations and hold defaulters accountable.
In her remarks, the Director General of PenCom, Ms. Omolola Oloworaran, hailed the agreement as a landmark development that embodies “a shared moral and institutional commitment to strengthen integrity, transparency, accountability, and judicious management of pension funds.”
She explained that the MoU establishes a coordinated framework for recovering unremitted pension contributions and enforcing compliance among defaulting employers.
“Under this partnership, PenCom and ICPC will work hand in hand to recover unapplied and unremitted pension contributions, ensuring prompt disbursement of recovered funds to contributors,” she said.