The Federal Government has inaugurated the Governing Board of the National Pension Commission (PenCom). The event took place on Monday, March 24, 2026, in Abuja, with the Secretary to the Government of the Federation, Senator George Akume, presiding.
The inauguration follows sustained pressure from the Nigerian Labour Congress (NLC), which had demanded the constitution of the board to ensure proper oversight of the country's pension system. The NLC had previously threatened industrial action over the delay.
The newly inaugurated board is chaired by Mr. Olabode Ogunlana. Other members include representatives from organized labour, the private sector, and relevant government agencies. In his remarks, Senator Akume charged the board to ensure the security of pension funds and improve service delivery to retirees.
The board's inauguration ends a period of vacancy that had raised concerns about governance and decision-making at the pension regulator. The PenCom Act mandates a board for the commission's strategic direction.
