The National Pension Commission (PenCom) has announced Omolola Oloworaran as the new Acting Director-General. Her appointment, made in accordance with Section 26 (1) of the Pension Reform Act 2014, is pending Senate confirmation.
PenCom’s statement highlights her qualifications and future goals:
“Omolola Oloworaran has assumed duties as Acting Director-General of the Commission, pending Senate confirmation, in line with Section 26 (1) of the Pension Reform Act 2014. She aims to advance the Contributory Pension Scheme (CPS) by ensuring pension assets grow, expanding CPS membership, and improving the payment of retirement benefits while enhancing investment returns for contributors and retirees.”
Oloworaran, a Fellow of the Association of Chartered Certified Accountants (ACCA), has over 20 years of experience in the financial services sector. She holds an accounting degree from the University of Ilorin and an MBA from Manchester Business School. Her career includes extensive experience with major investment and commercial banks in Nigeria.
Her appointment has stirred controversy due to concerns over the 15-year experience requirement stipulated by the Pension Reform Act, with some questioning whether her background meets this criterion.