FG Inaugurates New PenCom Board to Safeguard N28trn Assets

The Federal Government of Nigeria inaugurated a new board for the Pension Commission (PenCom) on Monday in Abuja, with Secretary to the Government of the Federation (SGF) Georg Akum emphasizing the importance of safeguarding the N28 trillion pension assets. Akum instructed the board members to uphold the highest standards of corporate governance and to ensure that they do not interfere with daily operations, which could undermine the institution's effectiveness.

He highlighted the significance of the pension industry, which has grown to manage over N28 trillion, benefiting millions of contributors. Akum urged the board to prioritize strong internal controls and robust risk management to reinforce public confidence in the pension system.

Chairman of the PenCom board, Opeyemi Olukayod, expressed gratitude to President Bola Tinubu for appointing the board members, committing to uphold the ideals of corporate governance and integrity. Director General of PenCom, Omolola Oloworaran, reiterated the commitment to work collaboratively with the board to deliver tangible benefits to contributors.