FG inaugurates PenCom board, tasks members on transparency, accountability
The Secretary to the Government of the Federation (SGF), Senator George Akume, has inaugurated the Board of the National Pension Commission (PenCom), charging members to uphold transparency, accountability, and integrity
- ...reaffirms commitment to pension reforms, timely payments
- By Bolaji Ogundele, Abuja
The Secretary to the Government of the Federation (SGF), Senator George Akume, has inaugurated the Board of the National Pension Commission (PenCom), charging members to uphold transparency, accountability, and integrity in the management of Nigeria’s pension system.
At the inauguration ceremony held on Monday, Akume said the move underscores the Federal Government’s resolve to strengthen the pension framework and safeguard the retirement savings of Federal Government workers.
He stressed that the Board’s mandate is clearly defined, encompassing the provision of strategic direction, policy guidance, and effective oversight in line with the Pension Reform Act 2014 and other relevant regulations.
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In a statement issued by the Head of Information and Public Relations at the Office of the SGF, Christopher Ugwuegbulam, Akume said, “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”, the SGF said.
Akume urged the Board members to exercise sound judgment and maintain the highest standards of integrity, warning against interference in the Commission’s day-to-day operations, which could undermine established governance structures.
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He reaffirmed the commitment of President Bola Ahmed Tinubu’s administration to addressing outstanding pension liabilities, restoring confidence in the system, and ensuring that retirees receive their entitlements with dignity, certainty, and timeliness.
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The newly inaugurated Board is chaired by Dr. Opeyemi Agbaje, with Hon. Hafiz Muhammad Kawu Ibrahim serving as Commissioner (Technical), Samuel Chigozie Uwanda as Commissioner (Inspectorate), Charles Efe Sylvester Emukowhate as Commissioner (Finance), and Bello Abubakar Malabu as Commissioner (Administration).
Other members include representatives from key government institutions and stakeholders such as the Office of the Head of the Civil Service of the Federation, Federal Ministry of Finance, Nigeria Labour Congress, Trade Union Congress of Nigeria, Nigeria Union of Pensioners, Nigeria Employers Consultative Association, Central Bank of Nigeria, Securities and Exchange Commission, Nigerian Stock Exchange, and the National Insurance Commission.
Speaking on behalf of the Board, Chairman Dr. Opeyemi Agbaje assured the Federal Government of the Board’s commitment to upholding corporate governance principles and maintaining a clear distinction between oversight responsibilities and management functions.
He also pledged that the Board would align with the administration’s broader strategic agenda, including leveraging pension funds as a catalyst for national development.
Earlier in his welcome remarks, the Permanent Secretary, General Services Office, Dr. Ibrahim Abubakar Kana, noted that successive reforms have significantly improved pension administration in Nigeria, strengthening PenCom as a critical institution for protecting retirement savings.
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He emphasized that the Board’s decisions would have far-reaching implications not only for current retirees but also for serving public servants who depend on the system for future security.
In her remarks, the Director-General of PenCom, Ms. Omolola Bridget Oloworaran, reaffirmed the Commission’s commitment to fostering a productive and collaborative relationship with the Board.
She commended the SGF for his leadership and clear direction, expressing confidence that the new Board would deliver impactful and innovative outcomes that would further strengthen institutional performance.
The inauguration ceremony was attended by senior management staff from the Office of the Secretary to the Government of the Federation and the National Pension Commission.
