Omolola Oloworaran, the newly appointed acting director-general of the National Pension Commission (PenCom), has officially taken office.
PenCom announced this in a statement signed by its management on Wednesday.
Appointed by President Bola Tinubu on July 13, Oloworaran brings over 20 years of experience in the financial industry. She succeeds Aisha Dahir-Umar as the head of the agency.
However, Naija Traffic reported that Oloworaran may not be statutorily qualified for the role unless the Pension Reform Act, 2014 is amended before her confirmation hearing by the Senate. The current act requires the director-general to have “relevant and adequate professional qualification in pension matters with 15 years cognate experience” as stipulated in section 26 (2)(d).
The Senate, which is responsible for approving her appointment, is currently on its annual recess and will resume on September 17.
In its statement on Wednesday, PenCom noted that Oloworaran will serve in an acting capacity pending her confirmation by the Senate, in accordance with Section 26 (1) of the Pension Reform Act 2014.
“Omolola is poised to explore new frontiers in implementing the Contributory Pension Scheme (CPS) by sustaining pension assets on the growth trajectory, ensuring increased CPS membership, and supporting coverage expansion initiatives,” PenCom stated.
“She is committed to the prompt payment of retirement benefits while enhancing the pension investment horizon for better returns to contributors and retirees.”
Oloworaran, a Fellow of the Association of Chartered Certified Accountants (ACCA), also holds an accounting degree from the University of Ilorin and an MBA from Manchester Business School. She has extensive experience working in renowned investment and commercial banks in Nigeria before her current appointment.
