In a recent exclusive by Tech Cabal, it was reported that over 100 employees were terminated in July 2024 due to a N40 billion fraud orchestrated by Tijani Muiz Adeyinka, a manager on the operations team. This wave of dismissals also included the Head of Operations.
The Head of Operations in question was Mrs. Omolola Oloworanran, who is the newly appointed Director General of the National Pension Commission (PenCom). This information was confirmed through her LinkedIn profile. According to Tech Cabal, not only was the Head of Operations dismissed, but also several senior officers and over 100 employees were let go by First Bank for their failure to detect the fraud.
The report indicated that these employees were accused of negligence, as they should have identified the fraudulent activities earlier. First Bank’s management believed that a fraud of such magnitude could not have occurred without the awareness of Adeyinka’s superiors.
Additionally, the appointment of Mrs. Oloworanran as Director General of PenCom raises legal concerns. Her appointment seemingly violates the Pension Reform Act, which mandates 15 years of relevant experience in pension matters for anyone to be appointed as Director General or Commissioner.
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