Federal Government inaugurates PenCom board as pension assets rise
The Federal Government has inaugurated the Governing Board of the National Pension Commission. Senator George Akume emphasized the importance of strong corporate governance and safeguarding over N28tn in pension assets. The new board, chaired by Opeyemi Agbaje, has been tasked with providing strategic direction and ensuring transparency. Ms Omolola Oloworaran highlighted the significance of restoring the board’s oversight function for the commission.
TLDR
- Senator George Akume described PenCom as a vital part of Nigeria’s financial sector, responsible for millions of Nigerians’ retirement savings.
- The board is expected to offer policy guidance and effective oversight, in line with the Pension Reform Act 2014.
- Akume warned against board interference in daily management, stressing the need for accountability and institutional effectiveness.
- The administration of President Bola Tinubu is committed to meeting pension obligations and addressing outstanding liabilities.
- Opeyemi Agbaje and Ms Omolola Oloworaran pledged to uphold corporate governance and ensure that pension contributors and retirees benefit from the board’s actions.
