The National Pension Commission (PenCom) has issued a strong warning to Nigerians about a rising recruitment scam, urging them to be cautious and avoid falling victim.
The warning was posted on its official X handle on Tuesday, April 14, 2026.
PenCom cautioned the public against individuals who may attempt to gather personal information under the guise of offering job opportunities.
PenCom revealed that the scammers are using various communication channels, such as WhatsApp, emails, and personal phone numbers, to reach out to unsuspecting victims, urging them to urgently share personal details for job placements.
A PenCom statement highlighted common tactics used by the fraudsters:
Additionally, these fraudsters frequently request confidential documents to be sent to a mysterious “secretary” via WhatsApp, which is a red flag for scam operations.
PenCom also noted that several reports have surfaced, with scammers impersonating the Director-General of the Commission in a bid to lend credibility to their deceitful claims.
This warning follows a recent crackdown by the Securities and Exchange Commission (SEC), which shut down over 400 fraudulent investment schemes in Nigeria.
These scams, which targeted unsuspecting investors, were part of a broader effort to protect the public and maintain confidence in the financial market.
SEC has ramped up its enforcement actions and investor education to curb such frauds.
Amid the scam threat, Nigeria’s pension assets surged to N29.43 trillion as of February 2026. This marked an all-time high, with an increase of N1.39 trillion in just one month.
This growth follows a steady rise in contributions and the positive performance of pension fund investments.
PenCom reported that investment in domestic equities reached N5.41 trillion, highlighting the significant participation of pension funds in Nigeria’s stock market. On the other hand, foreign equity investments remained modest, amounting to N261.99 billion due to global uncertainties.
Additional investments include corporate debt securities at N2.25 trillion, state government bonds at N368.99 billion, and money market instruments, which grew to N2.74 trillion.
PenCom continues to monitor these developments closely, ensuring the safety and growth of Nigeria’s pension assets amidst the ongoing battle against fraudulent schemes.