PenCom DG Meets NLC to Address Pension Fund Concerns

The Director-General of PenCom, Oloworaran, met with the Nigeria Labour Congress (NLC) in Abuja amid tensions over pension funds. This marked Oloworaran's first direct engagement with the NLC since assuming office in July.

The meeting addressed concerns over the absence of a statutory PenCom Board, leaving billions of naira in retirement savings vulnerable. The NLC accused Pension Fund Administrators (PFAs) of negligence, leading to many retirees being stranded.

Oloworaran acknowledged the need for stronger oversight and accountability in pension management, including the introduction of a digital dashboard for monitoring. Both sides agreed to enhance collaboration moving forward to address the challenges faced by Nigerian workers.