Section 24: POWERS OF THE COMMISSION

The Commission shall have the power to -
(a) formulate, direct and oversee the overall policy on perision matters in Nigeria;
(b) fix the terms and conditions of service and remuneration of the employees of the Commission;
(c) request or call for information from any employer or Pension Fund Administrator or Pension Fund Custodian or any other person or institution on matters relating to retirement benefits;
(d) charge and collect such fees, levies or penalties, as may be necessary for the provision of services under this Act;
(e) establish and acquire offices and other premises for the use of the Commission in such locations as it may deem necessary for the proper .perforrnance of its functions under this Act;
(f) investigate any Pension Fund Administrator, Pension Fund Custodian or other party involved in the management of pension funds;
(g) impose administrative or civil sanctions or fines on erring employers or Pension Fund Administrators or Pension Fund Custodians;
(h) order the transfer of management or custody of all pension funds or assets being managed by a Pension Fund Administrator or held by a Pension Fund Custodian whose licence has been revoked under this Act or subject to insolvency proceedings to another Pension Fund Administrator or Pension Fund Custodian, as the case may be ;
(i) move pension funds and assets from one Pension Fund Administrator or Pension Fund Custodian to another when the Commission believes that the funds and assets are endangered;
(j) appoint Management Committee in the resolution offailing pension operators;
(k) accredit any person, body corporate or institution that engages in any activity relating to pension matters in Nigeria pursuant to this Act;
(l) request the Accountant-General of the Federation to credit into the Federal Government Retirement Fund Account, Federal Government's obligation for the redemption of the Retirement Benefits Bonds issued to its employees for their past service; and
(m) set up technical committees, working groups and task forces to assist the Commission in the performance of its duties and functions
under this Act;
(n) make changes to its structure with the approval of the Board; and
(o) do such other things which in its opinion are necessary to ensure the efficient performance of the functions of the Commission under this Act.