The Federal Government has intensified efforts to avert a potential pension crisis by directing Ministries, Departments and Agencies (MDAs) to ensure full compliance with the ongoing verification and enrolment exercise for civil servants with accrued pension rights.

In a statement, the National Pension Commission (PenCom) disclosed that the one-time online exercise targets employees of treasury-funded MDAs who were employed before June 30, 2004.

The exercise, which commenced on February 2, 2026, is scheduled to end on July 31, 2026, and aims to capture accurate data to facilitate the timely payment of retirement benefits under the Contributory Pension Scheme (CPS).

PenCom explained that the process would enable the government to determine and settle outstanding pension liabilities inherited from the old Defined Benefit Scheme (DBS), in line with the provisions of the Pension Reform Act 2014.

To meet these obligations, the government operates the Retirement Benefits Bond Redemption Fund, domiciled with the Central Bank of Nigeria.

Concerned about the low level of participation nationwide, the Head of the Civil Service of the Federation, Didi Esther Walson-Jack, has mandated all MDAs to comply fully with the exercise.

She emphasised that the verification is critical for determining pension liabilities and making adequate budgetary provisions for their settlement.

PenCom further noted that the exercise has been enhanced through digital innovation with the introduction of the Contributions and Bond Redemption Application (COBRA), which enables real-time data capture, validation, and processing.

The platform incorporates biometric verification and cross-checking of employment records to improve accuracy and reduce delays associated with the previous manual system.

The exercise is being conducted in phases, with the first phase, covering employees retiring between January 2027 and December 2029, ending on March 31, 2026. The ongoing second phase, scheduled to conclude on July 31, 2026, targets employees retiring from January 2030 onwards.

MDAs have been directed to upload details of eligible staff on the COBRA platform, while affected workers are to visit their Pension Fund Administrators with relevant documents to complete the process.

PenCom assured that participation would ensure proper computation of accrued pension rights and seamless access to retirement benefits, warning that non-compliance could result in delays and hardship for affected workers.