By Bimbola Oyesola
The appointment of Ms Omolola Oloworaran has been confirmed as the new director-general of the National Pension Commission (PENCOM).
The confirmation by the Senate followed the consideration and adoption of the report of the Senate Committee on Establishment and Public Service.
President Bola Ahmed Tinubu had in July 2024 appointed the DG, and consequently requested the Senate to confirm her appointment.
Oloworaran succeeded Aisha Dahir-Umar, who served out her tenure during the last administration.
While making his presentation on the confirmation, the chairman of the Committee, Senator Cyril Fasuyi (APC, Ekiti North), said his committee observed that the nominee possessed the requisite legal requirements specified under the provisions of sections 19 (2), (5)(6), and 26 of the Pension Reform Act-2014, Act No. 4, necessary for appointment to the position of DG of the National Pension Commission.
He noted that at the time of this report there was no objection against Oloworaran’s appointment .
According to him, the committee established both in fact and in law that the nominee satisfied the requisite requirements and “is hereby affirmed to be qualified, fit and proper person suitable for appointment as the Director-General of the National Pension Commission.”
Omolola Oloworaran was appointed DG, National Pension Commission in July 2024. She assumed the role in acting capacity pending the conclusion of confirmation processes by the Nigerian Senate, as required by the Pension Reform Act 2014.
A strong advocate of innovation and process r-eengineering, Omolola brings to PenCom over 20 years of experience in the financial services industry. This illustrious career, which commenced at Citibank saw her traverse other renowned firms, including Renaissance Capital, FDHL Consulting, Stanbic IBTC Bank and First Bank, where she served as the Group Head of First Shared Services.
A Fellow of the Association of Chartered Certified Accountants (ACCA) and member of the Chartered Institute of Securities & Investment (CISI), Omolola is an accounting graduate from the University of Ilorin.
She holds a Master of Business Administration (MBA) degree from the Manchester Business School and has also participated in the Transforming Business Using AI (TBAI) Programme at the renowned INSEAD Business School in France.
Omolola is poised to explore new frontiers in the implementation of the Contributory Pension Scheme (CPS) by sustaining pension assets on the growth trajectory, ensuring increased CPS membership and supporting coverage expansion initiatives. She is committed to the expeditious payment of retirement benefits while deepening the pension investment horizon for enhanced returns to contributors and retirees. A key priority of her leadership at PenCom is to renew impetus on improved collaboration within the pension industry.