SGF inaugurates PENCOM Board, calls for accountability and transparency in pension mgt

By Temidire Tolu

The Secretary to the Government of the Federation (SGF), Sen. George Akume on Monday inaugurated the new Board of the National Pension Commission (PenCom), urging members to uphold integrity, transparency, and accountability as they oversee Nigeria’s pension system.

Addressing the newly appointed board members, Akume reaffirmed the Federal Government’s commitment to safeguarding the retirement savings of federal workers and strengthening the nation’s pension framework.

“Today's inauguration underscores the Federal Government's unwavering commitment to a pension system that is transparent, resilient and trusted by all. Distinguished Members of the Board, your mandate is very clear. You are to provide strategic direction, policy guidance and effective oversight in accordance with the Pension Reform Act 2014 and other applicable frameworks,” he stated.

The SGF also warned board members against encroaching on operational roles that could undermine governance structures.

He further emphasized the administration’s dedication, under President Bola Ahmed Tinubu to addressing outstanding pension liabilities and ensuring retirees receive their pensions with dignity, certainty, and timeliness.

The Board, chaired by Dr. Opeyemi Agbaje, includes Hon. Hafiz Muhammad Kawu Ibrahim, OON (Technical Commissioner), Samuel Chigozie Uwanda, CPA (Inspectorate Commissioner), Charles Efe Sylvester Emukowhate (Finance Commissioner), and Bello Abubakar Malabu (Administration Commissioner). Other members represent key institutions including the Central Bank of Nigeria, Securities and Exchange Commission, Nigerian Stock Exchange, and organized labor and pensioner groups.

In his response, Dr. Agbaje assured the government of the Board’s commitment to corporate governance and accountability.

“We are fully aligned with the principles articulated by the Secretary to the Government of the Federation, particularly in upholding integrity, accountability, and the clear distinction between governance, oversight, and management operations within the Commission,” he said.

Agbaje also highlighted the Board’s focus on leveraging pension funds as a catalyst for national development.

Earlier in the ceremony, the Permanent Secretary of the General Services Office (GSO), Dr. Ibrahim Abubakar Kana, noted that pension reforms over the years have significantly strengthened PenCom, ensuring the protection of retirement savings for both current and future retirees.

Similarly, the Director-General of PenCom, Ms. Omolola Bridget Oloworaran, expressed optimism about the Board’s tenure. She praised the SGF for providing clear direction and reaffirmed the Commission’s commitment to a collaborative working relationship with the Board.

“We congratulate the newly inaugurated Board on their appointments and look forward to a tenure marked by impact, innovation, and strengthened institutional performance,” she stated.

The inauguration ceremony was attended by management staff from the Office of the SGF and PenCom, highlighting the Federal Government’s focus on promoting good governance in the administration of pension funds.