Senate confirms Omolola Oloworaran as DG of PenCom
The Senate has confirmed the appointment of Omolola Oloworaran as the Director-General of the National Pension Commission (PenCom). The confirmation follows the consideration and adoption of the Senate Committee on Establishment and Public Service’s report during Thursday’s plenary.
In July 2024, President Bola Ahmed Tinubu appointed Oloworaran as the acting Director-General of PenCom, pending Senate confirmation. The President had earlier requested the Senate to approve the appointment.
The President’s spokesman, Ajuri Ngelale, described Oloworaran as a finance and banking expert with extensive experience. He added that the appointment was subject to Senate approval, emphasising the President’s expectation for a goal-oriented leadership that would enhance the efficiency and performance of PenCom, the regulator of Nigeria’s pension industry.
Oloworaran, a strong advocate for innovation and process reengineering, brings over 20 years of experience in the financial services sector. Her career, which began at Citibank, includes roles at prominent firms such as Renaissance Capital, FDHL Consulting, Stanbic IBTC Bank, and First Bank, where she served as the Group Head of First Shared Services.
A Fellow of the Association of Chartered Certified Accountants (ACCA) and a member of the Chartered Institute of Securities & Investment (CISI), Oloworaran holds a degree in Accounting from the University of Ilorin and an MBA from the Manchester Business School. She has also participated in the Transforming Business Using AI (TBAI) Programme at INSEAD Business School in France.
As Director-General, Oloworaran is committed to advancing the Contributory Pension Scheme (CPS) by sustaining the growth of pension assets, expanding membership, and supporting coverage initiatives.
She is focused on the swift payment of retirement benefits and deepening the pension investment horizon for better returns to both contributors and retirees. A key priority of her leadership is to foster improved collaboration within the pension industry.
