The Federal Government has inaugurated the Governing Board of the National Pension Commission (PenCom), charging members to uphold the highest standards of corporate governance and safeguard over N28 trillion in pension assets under the Contributory Pension Scheme (CPS).
Speaking at the inauguration ceremony in Abuja on Monday, the Secretary to the Government of the Federation (SGF), Senator George Akume, said that PenCom remains a critical pillar of Nigeria’s financial sector, entrusted with the retirement savings of millions of Nigerians.
He said the event demonstrates government’s commitment to a pension system that is transparent, resilient, and trusted.
The SGF described the Board’s role as one of “national importance,” as members are expected to provide strategic direction, policy guidance, and effective oversight in line with the Pension Reform Act 2014 (PRA) and other relevant frameworks.
He drew a firm line between governance and administration, pointing out that while the Board is responsible for oversight, the Management must be allowed to handle day-to-day operations. According to him, any interference in operational matters would weaken accountability and undermine institutional effectiveness.
On the scale of responsibility before the new Board, the SGF said that the pension industry has grown significantly, with assets now exceeding N28 trillion and millions of contributors depending on the CPS for financial security in retirement.
He therefore called for zero tolerance for misconduct, urging the Board to prioritise strong internal controls, robust risk management, and transparency in decision-making.
“The actions of the Board must reinforce public confidence in the pension system and assure contributors that their savings are safe, secure, and well managed,” he said.
Reaffirming government’s commitment to the sector, the SGF said that the administration of President Bola Ahmed Tinubu remains resolute in meeting pension obligations. He noted that steps have been taken to address outstanding liabilities and restore confidence, with a focus on ensuring that retirees receive their benefits with dignity, certainty, and timeliness.
The SGF concluded by formally inaugurating the Board, expressing confidence that members would deliver exemplary leadership, disciplined governance, and sustained commitment to the Nigerian people.
Speaking on behalf of members, the Chairman of the PenCom Board, Agbaje Opeyemi Olukayode, expressed appreciation to President Bola Tinubu for finding the Board members worthy of the national assignment.
Agbaje said the new Board members are fully committed to upholding the ideals articulated by the SGF, particularly in the areas of corporate governance, integrity, strong leadership, and a clear distinction between governance and oversight.
The Chairman pledged the Board’s determination to advance the administration’s agenda by leveraging pension funds as a catalyst for national development, mainly in infrastructure, housing, and other critical sectors of the economy.
Also speaking, the Director-General of PenCom, Ms. Omolola Oloworaran, expressed appreciation to the SGF for inaugurating the Board and for providing oversight during the period the Commission operated without one. She noted that, prior to the inauguration, the SGF had offered strategic leadership with clarity and purpose, contributing to key achievements recorded since her assumption of office.
The Director-General emphasised her commitment to working collaboratively with the Board, anchored on a shared responsibility to serve the interests of Nigerians. She stressed that every decision of PenCom Board must ultimately deliver tangible benefits to contributors and retirees.
The DG further said the inauguration is timely and significant, as it strengthens governance within PenCom by restoring the Board’s oversight function. She said she looked forward to a productive and collaborative working relationship with the Board.
She reaffirmed that both Management and the Board would continue to deliver on PenCom’s mandate and expressed confidence in a strong partnership with all Board members in advancing the objectives of the pension industry.

Leadway Group has strengthened its commitment to celebrating, empowering, and amplifying the achievements of women across diverse industries through Hersurred, its women-focused initiative that spotlights impact, leadership, and innovation.
Launched in 2024, Hersurred by Leadway has grown into a dynamic platform that fosters meaningful conversations about leadership, enterprise, creativity, innovation, and impact in collaborations with exceptional women.
Over time, the platform has strengthened its commitment to recognising women who are not just participating in their fields, but are redefining them.
This year, the women-led initiative will make a bold, intentional shift from acknowledgment to amplification, under the theme “Show Her Off,” focusing on women who are breaking barriers, building sustainable ventures, driving policy conversations, leading in corporate spaces, transforming communities, and shaping culture.
These women will be spotlighted at an event that culminates other activities celebrating this year’s international Women’s month.
Commenting, Chief People Experience Officer of Leadway Group, Kunbi Adeoti, said: “Hersurred by Leadway is more than a community; it is a bold expression of our commitment to inclusion and lasting societal impact. Over time, it has grown into a powerful affirmation of our belief in the strength, resilience, and transformative influence of women across every sphere of life. This year, the initiative celebrates women who are not only excelling but intentionally shaping change — within Leadway and across the wider community.”
“By intentionally highlighting women who are making an impact, Leadway aims to boost visibility that translates into opportunity, birthing influence and grit for every girl child and for woman, everywhere. This is because recognition and representation are a solid foundation for remarkable exploits,” Adeoti added.
On Saturday, March 27, leading women from sectors such as finance, technology, creative industries, entrepreneurship, public service, and social development would be celebrated at a special gathering. Attendees can expect inspiring conversations, insightful sessions, and networking opportunities to foster the depth and diversity of women’s contributions to national development.
Over the past few years, the company has continued to expand the initiative’s impact beyond the shores of the community. Leadway partnered with Heels and Tech, sponsoring women to acquire technology skills in areas such as data analysis, product management, and product design, reinforcing its belief in empowering women through access to knowledge and emerging career pathways. In addition, the initiative will host a skills-acquisition workshop to equip women with practical skills for professional and entrepreneurial growth.
Leadway remains committed to championing the growth, influence, and empowerment of women across every sector, amplifying their achievements, recognising their leadership, and celebrating the impact they continue to make in their industries and communities, while inspiring other women to pursue excellence and lead boldly.

Leadway Pensure PFA Limited, a licensed pension fund administrators, says Nigeria’s Personal Pension Plan (PPP) will reshape small business owners’ retirement savings, making them more flexible and accessible and ultimately reducing the risk of old-age poverty.
The company maintains that the initiative plays a critical role in Nigerian economic development, given that informal employment remains extremely high.
The country’s informal employment rate reached 92.7 percent in the first quarter of 2024, rising from 92.3 percent in the third quarter of 2023, according to the National Bureau of Statistics (NBS) Labour Force Survey. Tens of millions of economically active Nigerians operate outside employer-led pension arrangements even as they power the country’s commerce and micro-enterprise economy.
At the same time, the pension ecosystem continues to expand in scale.
PenCom’s unaudited industry portfolio for December 31, 2025, records total pension fund assets at ₦27.451 trillion and counts over 11 million RSA members. These figures underscore the size of the formal pension system and highlight the opportunity to extend participation further through PPP.
Leadway Pensure PFA sees significant growth potential for PPP, along with a notable participation gap. PenCom’s Q3 2025 report reveals that, as of September 30, 2025, over 200,000 workers had registered PPP accounts, but only 7.6% funded during the quarter.
Commenting, Olusakin Labeodan, MD/CEO, Leadway Pensure PFA, said, “Small businesses are Nigeria’s economic backbone, yet many owners lack disciplined retirement security. The Personal Pension Plan allows flexible contributions that match income realities, helping entrepreneurs secure their future as they build their businesses. With strong participation, PPP can help move more Nigerians toward stability and deserved dignity in retirement.”
He added that driving adoption will require sustained education and simpler onboarding. “Our focus is to convert awareness into consistent contributions by meeting informal workers where they are and through digital access, targeted community engagement, and guidance that makes pension planning feel practical, not distant.”
Leadway Pensure PFA said its renewed PPP awareness drive will focus on helping informal sector participants understand how to enroll for PPP, make contributions that suit their cash flow, whether monthly, quarterly, or as lump sums, track savings growth through digital channels, and access advisory support to maximise retirement planning benefits. Leadway Pensure invites self-employed Nigerians and small business owners to take advantage of the Personal Pension Plan today to secure their future.