Nigeria’s FG inaugurates 16-member PENCOM board
The Nigerian federal government has inaugurated a 16-member National Pension Commission (PENCOM) board to implement innovative and feasible solutions to challenges in Nigeria’s pension sector.
Secretary to the Government of the Federation (SGF), Boss Mustapha, who launched the board at the inauguration on Thursday in Abuja and noted that there were challenges in the pension sector, in spite of the constitutional and statutory provisions that guaranteed pension payment.
According to him, it was the challenges faced in the sector that had prompted the pension reform of 2004, which introduced a mandatory Contributory Pension Scheme (CPS) for employees of both public and private sectors, with few exceptions in the public service.
“As a government, we are always conscious of our responsibilities with regards to the payment of pensions to eligible retirees in the Federal Public Service,” he said.
“We are committed to discharging these responsibilities in spite of the perennial challenges, especially as caused by the global COVID-19 pandemic manifesting in dwindling revenue accruing to the nation,” he said.
The SGF urged that the board should develop new ideas towards general policy guidelines, which would be directed towards the Commission.
The board, chaired by Dr. Oyindasola Oni, includes Aisha Dahir-Umar, Clement Akintola, Mr. Anyim Nyerere, Mr. Charles Sylvester, Mr. Festus Dauda, Mrs. Anita Shitu, Comrade Ayuba Waba, Dr. Bobboi Kaigama, Dr. Abel Afolayan, and Dr. Timothy Olawale as members.
Others are Mr. Edward Adamu, Mr. Lamido Yuguda, Mr. Oscar Onyema, Mr. Olorundare Sunday, and Dr. Umaru Farouk Aminu, Executive Commissioner (Administration) representing the northwest geopolitical zone.