FROM NGOZI ONYEAKUSI

PenOp CEO, Agudah

Following  recovery of N4.5bn pension contributions from defaulting employers, the CEO of Pension Fund Operators Association of Nigeria (PenOp), Oguche Agudah, has reminded employers of their legal obligations even as he called on  organizations with three or more employees to ensure they remit pension contributions.

Agudah who disclosed that the PenCom recovered a total of N4.57 billion from defaulting employers between  2024 Q1 and 2025 Q1 said the recovered sum includes N2.12 billion in outstanding pension contributions and N2.45 billion in penalties imposed on 138 employers who failed to remit pension funds as required by law.