PenCom appoints Dahir-Umar Acting DG

By Maduka Nweke

Following the replacement of the former Director General (DG) of National Pension Commission (PenCom), Mrs. Chinelo Anohu-Amazu, the organisation, yesterday, appointed Mrs. Aisha Dahir-Umar as Acting DG pending the confirmation of the DG designate by the Senate.

According to the Head, Communication, PenCom, Emeka Onuora, Mrs. Dahir-Umar will steer the activities of the commission pending the confirmation of the appointments of the new Executive Management of the commission by the Senate.

He said: “PenCom wishes to notify the general public that following the replacement of its Executive Management by Mr. President an Acting Director General, Mrs. Aisha Dahir-Umar, has been appointed to steer its activities pending the confirmation of the appointments of the new executives management by the Senate.

“Although this change has drawn a lot of press on PenCom, particularly in the print and social media, it is important to note that the transition has been successfully completed,” he said.

Onuora assured the public, especially registered members of the Contributory Pension Scheme (CPS) and retirees that the cardinal principle of PenCom is the safeguard of their pension assets and ensuring that retirees are paid their benefits when due, stressing that these objectives shall continue to be pursued with all the deserving commitment and dedication.

He maintained that as part of the established institutional framework, pension assets under the CPS are held in-trust by licensed Pension Fund Custodians (PFCs) on behalf of contributors, adding that neither PenCom nor Pension Fund Administrators (PFAs) have access to the assets.

He noted that the parent companies of the custodians had issued guarantees to the total pension assets held by the PFCs and that should there be any loss of the assets, the PFCs and their parent companies will make up the loss.

“It is noteworthy that there has never been any case of loss of pension assets or financial infraction under the CPS since its introduction in 2014,” he posited.

He stressed that the commission remains totally dedicated to the safeguard of the pension assets and upliftment of the entire pension industry in Nigeria.