Nigeria's worsening employment and economic challenges are forcing thousands of workers to fall back on their retirement savings for immediate survival, with more than N12 billion withdrawn from pension accounts by unemployed contributors in just three months.
Data released by the National Pension Commission (PenCom) shows that 8,082 workers who lost their jobs accessed a combined N12.11 billion from their Retirement Savings Accounts (RSAs) in the fourth quarter of 2025. This is in line with a provision in the Pension Reform Act 2014, which
