The Federal Government of Nigeria has inaugurated the board of the National Pension Commission PenCom to strengthen oversight. Authorities tasked members with protecting over N28 trillion in pension assets nationwide.
During the inauguration in Abuja, George Akume described the commission as vital to financial stability. He emphasised its role in managing retirement savings for millions of Nigerians. Furthermore, he stressed the need for transparency, accountability, and institutional resilience.
Akume urged board members to provide strategic direction and effective policy guidance. He also warned against interfering in daily operational duties handled by management. According to him, such interference could weaken accountability and reduce efficiency.
Additionally, the government reaffirmed its commitment to strengthening the pension system. It aims to ensure retirees receive benefits promptly and with dignity. Authorities have also taken steps to address outstanding pension liabilities across the country.
Speaking on behalf of the board, Opeyemi Agbaje expressed gratitude for the appointment. He assured stakeholders of strong governance, integrity, and disciplined leadership. Moreover, he noted that pension funds could support infrastructure and economic development.
Meanwhile, Director-General Omolola Oloworaran highlighted the significance of the inauguration. She explained that the new board restores proper oversight within the commission. She also pledged collaboration to deliver measurable benefits to contributors and retirees.
Overall, the inauguration marks a critical step in enhancing trust within Nigeria’s pension system. It also reinforces efforts to safeguard contributors’ funds and ensure sustainable financial security.
