PenCom licenses Awabah as first Accredited Pension Agent 

The Nationwide Pension Fee (PenCom) has licensed Awabah as the primary Accredited Pension Agent (APA) for the enrolment of contributors underneath the Private Pension Plan (PPP).

The approval was introduced by PenCom by way of its official X (previously Twitter) deal with on Friday, February 6, 2026.

The event marks a key step within the regulator’s efforts to broaden pension protection amongst self-employed and casual sector employees throughout Nigeria.

Accredited Pension Brokers are company entities licensed by PenCom to interface with self-employed individuals and employees within the casual sector on behalf of Pension Fund Directors (PFAs).

They function strictly underneath Service Degree Agreements (SLAs) executed with PFAs and permitted by the Fee, making certain compliance with regulatory requirements.

What they’re saying 

PenCom defined that the Private Pension Plan is designed to cater to people working outdoors formal employment constructions.

The scheme targets a large section of Nigeria’s workforce that has historically been excluded from the contributory pension system.

• “Awabah has been licensed by PenCom as the primary APA to help advertising and marketing and registration of individuals into the PPP as a part of the Fee’s dedication to broaden pension protection throughout the Nigerian workforce.”
• “The Private Pension Plan is for self-employed people and different employees working outdoors formal employment, together with artisans, merchants, freelancers, consultants, and professionals equivalent to attorneys, medical doctors, and accountants,” PenCom stated.

Awabah, which can also be a PenCom-approved Fee Answer Service Supplier (PSSP), affords a safe, free, and instantaneous digital gateway that allows employers to remit obligatory pension contributions and schedules to any Pension Fund Administrator in Nigeria.

Backstory 

PenCom’s approval of Awabah follows regulatory groundwork laid in latest months to formalise the function of intermediaries in pension enrolment.

In September 2025, the Fee launched a framework for the engagement of Accredited Pension Brokers within the implementation of the Private Pension Plan.

Based on PenCom, the framework was launched to formalise capabilities that had traditionally been carried out by gross sales brokers, significantly within the registration of Retirement Financial savings Account (RSA) holders.

The scope of those capabilities has now been expanded to incorporate the onboarding of contributors underneath the PPP.

Underneath the framework, APAs are formally recognised as stakeholders inside the pension trade.

They’re empowered to help the efficient rollout of the Private Pension Plan, with a give attention to bettering entry, simplifying onboarding processes, and supporting constant remittance of pension contributions.

• “With the intention to broaden participation amongst these segments, Pension Fund Directors shall interact the companies of Accredited Pension Brokers, who shall act as intermediaries for extending pension companies and enhancing accessibility,” PenCom acknowledged within the round. 

Extra insights 

PenCom’s transfer to license Awabah as the primary APA aligns with broader efforts to strengthen compliance and accountability inside the pension system. In December 2025, the Fee disclosed that it had accredited pension restoration brokers as a part of measures to strengthen Nigeria’s social contract with employees.

• The restoration brokers are mandated to get well N32.27 billion from defaulting employers.
• This quantity includes N15.87 billion in principal pension contributions and N16.40 billion in penalties.
• The recoveries cowl defaults recorded between June 2012 and September 2025.

These initiatives replicate PenCom’s twin technique of increasing pension protection whereas additionally tightening enforcement to guard contributors’ funds.

What you must know 

BusinessTimes beforehand reported that PenCom has rolled out a brand new self-service on-line platform that permits pension contributors to finish the obligatory knowledge recapture course of remotely.

• The platform, often called the Knowledge Recapture Self-Service Platform (PENCAP), allows Retirement Financial savings Account holders to replace their private particulars, together with biodata and biometric info, by a safe on-line portal.
• PenCom stated the initiative was developed in collaboration with the Pension Fund Operators Affiliation of Nigeria and licensed PFAs.
• The aim is to enhance the accuracy of pension information, improve service supply, and modernise pension administration by digital channels, significantly because the Fee intensifies efforts to convey extra Nigerians into the pension system.