By Peter Omopo
The Federal Government has inaugurated the Governing Board of the National Pension Commission, charging members to uphold strong corporate governance and safeguard over N28 trillion in pension assets.
The inauguration took place on Monday in Abuja, where the Secretary to the Government of the Federation, George Akume, described the commission as a critical institution responsible for protecting the retirement savings of millions of Nigerians.
He said the move reflects the government’s commitment to sustaining a transparent, resilient and credible pension system, adding that the board’s responsibilities are vital to national development.
Akume emphasised that members are expected to provide strategic direction and policy guidance in line with the Pension Reform Act 2014, while avoiding interference in the day-to-day operations of the commission’s management.
He highlighted the scale of the board’s mandate, noting that pension assets have grown to over N28 trillion, with millions of contributors depending on the contributory pension scheme for financial security.
The SGF urged the board to maintain zero tolerance for misconduct and prioritise transparency, risk management and strong internal controls to sustain public confidence in the system.
He also reaffirmed the government’s commitment to meeting pension obligations, addressing outstanding liabilities and ensuring retirees receive their benefits promptly.
In his response, the Chairman of the board, Agbaje Opeyemi Olukayode, thanked the government for the appointment and pledged commitment to integrity, effective oversight and sound governance.
He said the board would work to support national development by exploring opportunities to invest pension funds in key sectors such as infrastructure and housing.
Also speaking, the Director-General of the commission, Omolola Oloworaran, welcomed the inauguration, noting that it restores full governance structure to the commission after a period without a board.
She assured that management would collaborate with the board to strengthen operations and ensure that all decisions benefit contributors and retirees.
