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PenCom Clinches Top Position for Ethics and Integrity Among 50 Regulatory Agencies

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By Victoria Onehi

The National Pension Commission (PenCom) has achieved a significant milestone by securing the top position in the 2023 Ethics and Integrity Compliance Scorecard (EICS) among 50 regulatory agencies in Nigeria, as assessed by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

In the evaluation, PenCom also emerged the overall 14th position out of 404 Ministries, Departments, and Agencies (MDAs) on the comprehensive scorecard.

In a statement, PenCom noted that it achieved a commendable score, which was described by the ICPC as “substantial compliance.”

The statement reads in part:

“In recognition of this achievement, the ICPC conveyed its commendation to PenCom, acknowledging the organisation’s commitment to upholding ethics and integrity in its operations. The ICPC particularly commended PenCom for its well-established structures and processes that promote efficiency, while encouraging management to maintain high service delivery. 

“The annual deployment of the Ethics and Integrity Compliance Scorecard by the ICPC aims to assess MDAs’ compliance with existing ethical, integrity, statutory, policy, and regulatory standards and practices. This initiative aligns with the Commission’s preventive mandate. 

“The scorecard aims to minimise corruption risks, prevent system abuse, and revitalise ethics and integrity benchmarks in MDAs. The overarching objective is to ensure good service delivery while promoting a culture of ethical conduct within public service institutions.”

PenCom states it remains committed to sustaining the well-acknowledged transparency in regulating the Nigerian pension industry for the benefit of pension contributors and retirees. This continues to manifest through a consistent increase in pension assets and other key performance indicators. 

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