The Federal Government on Monday inaugurated the Governing Board of the National Pension Commission, directing members to uphold corporate governance and safeguard over N28tn in pension assets under the Contributory Pension Scheme.
This was contained in a statement issued by PenCom on Monday. Speaking during the inauguration ceremony in Abuja, the Secretary to the Government of the Federation, George Akume, described PenCom as “a critical pillar of Nigeria’s financial sector, entrusted with the retirement savings of millions of Nigerians.”
He said the inauguration reflects the government’s commitment to building “a pension system that is transparent, resilient, and trusted.”
Akume described the Board’s responsibility as one of “national importance,” noting that members are expected to provide strategic direction, policy guidance, and effective oversight in line with the Pension Reform Act 2014 and other relevant frameworks.
He also cautioned against interference in management duties, stressing that “while the Board is responsible for oversight, management must be allowed to handle day-to-day operations.”
