Secretary to the Government if the Federation (SGF) Senator George Akume, inaugurated the board of the National Pension Commission (PenCom) on Monday, urging its members to emphasize transparency, accountability and integrity in overseeing the country’s pension system.
NewsQuest reports that the appointment of the board indicates President Bola Tinubu’s administration’s determination to strengthen pension management and protect workers’ retirement savings.
“Today’s inauguration underscores the federal government’s unwavering commitment to a pension system that is transparent, resilient and trusted by all,” SGF Akume told the board members.
Akume reminded the board that its role, as defined by the 2014 Pension Reform Act, centers on providing strategic policy guidance and oversight — not meddling in day-to-day operations.
Speaking further the SGF warned that enchronching of management duties could undermine institutional governance.
The board, chaired by Opeyemi Agbaje, includes representatives from key institutions and stakeholder groups.
Speaking for the group, Agbaje pledged adherence to those principles.
“We are fully committed to upholding corporate governance, integrity, accountability, and maintaining a clear distinction between governance, oversight and management operations,” he said.
He thanked President Tinubu for the appointments and vowed to align the board’s work with the administration’s goals, including using pension funds to spur economic growth
SGF Akume had earlier also reaffirmed Tinubu’s dedication to settling pension backlogs and ensuring timely payments.
“Government remains committed to ensuring that pensions are paid with dignity, certainty and timeliness, while prioritizing the welfare of retirees,” he said.
Ibrahim Abubakar Kana, Permanent Secretary in the general services office, credited reforms by past governments with fortifying the system, which will benefit both current retirees and future public servants.
Omolola Bridget Oloworaran, the Commission’s Director-General, welcomed the board and promised close collaboration.
“We remain committed to fostering a productive and collaborative relationship with the board in line with established governance principles,” she said, praising SGF Akume’s leadership.
