Akume Inaugurates PENCOM Board, Charges Members on Accountability, Transparency
The Secretary to the Government of the Federation, Sen. George Akume, CON, has inaugurated the Board of the National Pension Commission (PENCOM), reaffirming the Federal Government’s commitment to strengthening Nigeria’s pension system and safeguarding the retirement savings of Federal Government workers.
While inaugurating the Board, the SGF underscored the clarity and importance of their mandate, which includes providing strategic direction, policy guidance, and effective oversight in line with the Pension Reform Act 2014 and other relevant frameworks.
“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 said.
He urged the Board members to uphold the highest standards of integrity, sound judgment, transparency and accountability, warning against any encroachment into operational responsibilities that could undermine governance structures established by law. He further reaffirms the Federal Government’s commitment under the leadership of President Bola Ahmed Tinubu, GCFR, to address outstanding pension liabilities and restore trust in the system while prioritising the welfare of retirees and ensuring pensions are paid with dignity, certainty, and timeliness.
The Board, which is chaired by Dr Opeyemi Agbaje, has the following membership: Hon. Hafiz Muhammad Kawu Ibrahim, OON, Commissioner (Technical); Samuel Chigozie Uwanda, CPA Commissioner (Inspectorate); Charles Efe Sylvester Emukowhate, Commissioner (Finance); Bello Abubakar Malabu, Commissioner (Administration).
Others include: Dr. Abdul Sule Usman Garba, (Permanent Secretary, Service Welfare Office), representing Office of the Head of the Civil Service of the Federation; Mrs. Aderonke J. Jaiyesimi, representing Federal Ministry of Finance; Comrade Joseph Ajaero , representing Nigeria Labour Congress; Tajuddeen Ubayi, representing Trade Union Congress of Nigeria; Comrade Godwin Ikechukwu Abumisi, representing Nigeria Union of Pensioners; Adewale Smatt-Oyerinde, representing Nigeria Employers Consultative Association; Dr. Muhammad Sani Abdullahi, representing Central Bank of Nigeria; Dr. Emomotitmi Agama, representing Securities and Exchange Commission; Dr. Umaru Kwairanga, representing Nigerian Stock Exchange and Mr. Olusegun Ayo Omosehin, representing National Insurance Commission.
Speaking on behalf of the Board, the Chairman of PenCom Board, Dr. Opeyemi Agbaje assured the Federal Government of its full alignment with the governance principles articulated by the Secretary to the Government of the Federation, particularly in upholding corporate governance, integrity, accountability, and the clear distinction between governance, oversight, and management operations within the Commission. While thanking President Bola Ahmed Tinubu for finding them worthy of the high national responsibility, he highlighted the Board’s commitment to advancing the administration’s strategic agenda of leveraging pension funds as a catalyst for national development.
Speaking earlier in his welcome remarks, the Permanent Secretary, General Services Office (GSO), Dr. Ibrahim Abubakar Kana, mni, stated that the reforms by successive administrations have continued to improve pension administration, leading to the establishment and strengthening of PenCom as a key institution responsible for safeguarding retirement savings. He further stressed that the Board’s work will impact not only current retirees, but also serving public servants who will eventually benefit from the system.
In her remarks, the Director-General of the National Pension Commission (PenCom), Ms Omolola Bridget Oloworaran, reaffirmed the Commission’s unwavering commitment to fostering a productive and collaborative relationship with the Board, in line with established governance principles. While extending her gratitude to the Secretary to the Government of the Federation for his exemplary leadership, clarity of direction, and steadfast commitment to strengthening governance within the Commission, she congratulated the newly inaugurated board on their appointments and expressed optimism for a tenure marked by impact, innovation, and strengthened institutional performance.
The inauguration ceremony was witnessed by some Management staff of the Office of the Secretary to the Government of the Federation and the National Pension Commission (PenCom).
