Senate Confirms Omolola Oloworaran as PenCom Director General

By LOVETH AZODO, Lagos

The Senate has confirmed the appointment of Ms. Omolola Oloworaran as the Director General of the National Pension Commission (PenCom).

The confirmation, announced during Thursday’s plenary session, followed the adoption of the report presented by the Senate Committee on Establishment and Public Service.

This decision formalizes Oloworaran’s leadership at PenCom, a role she had been holding in an acting capacity since her appointment by President Bola Ahmed Tinubu in July 2024.

Her confirmation aligns with the provisions of the Pension Reform Act 2014, which mandates Senate approval for such appointments.

Oloworaran brings a wealth of experience to the commission, having built a distinguished career spanning over two decades in the financial services sector.

Her professional journey began at Citibank and extended to roles at Renaissance Capital, FDHL Consulting, Stanbic IBTC Bank, and First Bank, where she served as Group Head of First Shared Services.

A graduate of accounting from the University of Ilorin, Oloworaran is a Fellow of the Association of Chartered Certified Accountants (ACCA) and a member of the Chartered Institute of Securities & Investment (CISI).

She also holds an MBA from Manchester Business School and has completed advanced business programs, including the Transforming Business Using AI (TBAI) course at INSEAD Business School in France.

Her tenure as Director General is expected to drive innovation and process improvement within the pension sector. Oloworaran has outlined a strategic focus on sustaining the growth of pension assets, expanding the membership of the Contributory Pension Scheme (CPS), and enhancing pension investments to deliver higher returns for contributors and retirees.

She has also pledged to prioritize timely retirement benefit payments and foster stronger collaboration across the pension industry. With her confirmation, stakeholders are optimistic about a reinvigorated approach to advancing PenCom’s mandate under her leadership.