SGF inaugurates PenCom board, tasks members on transparency

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 strong corporate governance in the management of Nigeria’s pension industry.

In a statement issued on Monday by the Head of Information and Public Relations in the SGF’s office, Christopher Ugwuegbulam, Akume said the inauguration reflects the federal government’s commitment to strengthening the nation’s pension system and safeguarding the retirement savings of workers.

He said the board is expected to provide strategic direction, policy guidance and effective oversight in line with the Pension Reform Act 2014 and other regulatory frameworks guiding the commission.

The SGF also cautioned the board against interfering in the day-to-day operations of the commission, stressing the need to respect the governance structure established by law.

He further reaffirmed the commitment of the administration of President Bola Tinubu to address outstanding pension liabilities, restore confidence in the pension system and ensure retirees receive their benefits promptly.

The board is chaired by Dr Opeyemi Agbaje, while members include Hafiz Muhammad Kawu Ibrahim, Samuel Chigozie Uwanda, Charles Efe Sylvester Emukowhate and Bello Abubakar Malabu as commissioners.

Other members represent key institutions including the Office of the Head of the Civil Service of the Federation, Federal Ministry of Finance, Nigeria Labour Congress (NLC), Trade Union Congress (TUC), Nigeria Union of Pensioners, Nigeria Employers’ Consultative Association (NECA), Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), Nigerian Exchange Group and the National Insurance Commission (NAICOM).

Speaking on behalf of the board, Agbaje assured the Federal Government of the board’s commitment to accountability, integrity and effective oversight while supporting the administration’s economic and development priorities.