The Federal Government has inaugurated the new Governing Board of the National Pension Commission (PenCom), emphasizing the critical role of the board in protecting over N28 trillion in pension assets under the Contributory Pension Scheme (CPS).
At the Abuja ceremony, Secretary to the Government of the Federation (SGF), George Akume, urged board members to uphold the highest standards of corporate governance, describing PenCom as a vital pillar of Nigeria’s financial sector entrusted with the retirement savings of millions of Nigerians.
Akume highlighted the importance of distinguishing governance from management, stressing that the board’s responsibility is strategic oversight, while day-to-day operations should remain with management to ensure accountability and institutional effectiveness.
Agbaje Olukayode, Chairman of the PenCom Board, thanked President Bola Tinubu for appointing the members and pledged full commitment to corporate governance, integrity, and strong leadership, aligned with the SGF’s directives.
PenCom Director-General, Omolola Oloworaran, also affirmed her commitment to working collaboratively with the board to ensure a transparent, resilient, and trusted pension system that serves the long-term interests of Nigerians.