PenCom licenses Awabah as Nigeria’s first Accredited Pension Agent, signalling a strategic shift in pension access.
As a result, the decision reflects a broader effort to reach workers outside salaried employment.
PenCom Expands Pension Access
Meanwhile, millions of self-employed Nigerians still lack access to structured retirement savings.
To address this gap, PenCom introduced the Personal Pension Plan.
A New Pension Distribution Layer
Under the model, Accredited Pension Agents connect Pension Fund Administrators with informal sector workers.
Importantly, they operate under Commission-approved Service Level Agreements to meet regulatory standards.
With this approval, PenCom activates a new distribution layer within the pension ecosystem.
Specifically, Awabah will market and register contributors under the Personal Pension Plan.
The scheme covers artisans, traders, freelancers, consultants and independent professionals.
Enforcement Meets Digital Reform
Earlier, in September 2025, PenCom laid regulatory groundwork through an APA engagement framework.
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Through the framework, PenCom formalised roles previously handled by informal pension sales agents.
In addition, the framework expanded these roles to include onboarding under the Personal Pension Plan.
Consequently, the industry now recognises Accredited Pension Agents as formal stakeholders.
PenCom therefore expects Pension Fund Administrators to use APAs to improve access and remittance consistency.
Beyond agency services, Awabah operates as a PenCom-approved Payment Solution Service Provider.
Through its platform, employers remit pension contributions instantly to any Pension Fund Administrator.
Meanwhile, the approval supports PenCom’s broader compliance and enforcement agenda.
In December 2025, PenCom accredited recovery agents to pursue ₦32.27 billion in unpaid contributions.
These recoveries include principal contributions and penalties dating back to 2012.
At the same time, PenCom continues to modernise pension administration through digital platforms.
Through PENCAP, contributors now update pension records online.
Overall, these reforms build a pension system designed for Nigeria’s informal economy.
