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FG Inaugurates PenCom Board, Charges Members To Protect ₦28 Trillion Pension Funds.
The Federal Government on Monday inaugurated the Governing Board of the National Pension Commission (PenCom), urging members to uphold strong corporate governance and protect over ₦28 trillion in pension assets under the Contributory Pension Scheme.....KINDLY READ THE FULL STORY HERE▶
The commission issued a statement following the ceremony held in Abuja, highlighting the board’s critical role in Nigeria’s financial system.
At the event, the Secretary to the Government of the Federation, George Akume, described PenCom as “a key pillar of Nigeria’s financial sector, responsible for the retirement savings of millions of Nigerians.”
He noted that the inauguration underscores the government’s commitment to building “a pension system that is transparent, resilient, and trusted,” adding that the board’s role is of “national importance.” Members are expected to provide strategic direction, policy guidance, and effective oversight in accordance with the Pension Reform Act 2014, while refraining from interfering in daily operations.
“While the Board is responsible for oversight, Management must handle day-to-day operations. Any interference could weaken accountability and institutional effectiveness,” Akume warned.
He highlighted that the pension sector has grown significantly, with total assets exceeding ₦28 trillion, and stressed that the board should adopt a zero-tolerance approach to misconduct, strengthen internal controls, enhance risk management, and ensure transparency.
“The Board’s actions must reinforce public confidence and assure contributors that their savings are safe, secure, and well managed,” he added, noting the administration of Bola Tinubu is committed to meeting pension obligations, addressing outstanding liabilities, and ensuring retirees receive their benefits promptly and with dignity.
Chairman Opeyemi Agbaje, speaking on behalf of the board, thanked the President for the appointment and pledged to uphold corporate governance, integrity, and strong leadership. He also highlighted plans to leverage pension funds for national development, particularly in infrastructure, housing, and other critical sectors.
The Director-General of PenCom, Omolola Oloworaran, described the inauguration as timely, commending the SGF for overseeing the commission during its period without a board. She emphasised that all board decisions must deliver tangible benefits to contributors and retirees and expressed optimism about a productive relationship between management and the board.
The inauguration comes after earlier delays in constituting the board, following Agbaje’s appointment as chairman in August 2025 amid pressure from organised labour, including threats of industrial action. The move is expected to strengthen oversight and boost public confidence in the management of pension funds nationwide.
Kaduna State Governor, Uba Sani, says the state has mapped out 22,435 hectares of degraded land for restoration under the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project using modern geospatial mapping technology.....KINDLY READ THE FULL STORY HERE▶
He said the initiative is part of efforts to strengthen climate resilience, tackle environmental degradation, and promote sustainable land use in the state.
Speaking at the ACReSAL mid-term review meeting in Kaduna through the Commissioner for Environment and Natural Resources, Abubakar Buba, the governor explained that the use of geospatial tools has made it possible to accurately identify affected areas for targeted intervention.
He added that the project is not only focused on land recovery but also on boosting agricultural output and improving livelihoods in affected communities.
Sani also noted that the state is supporting the programme with empowerment initiatives, including training over 500 women, youths, and school feeding vendors in biomass briquette production.
According to him, the effort is already helping to reduce dependence on firewood while creating alternative sources of income for beneficiaries.
President Tinubu has given full backing for the implementation of the ₦68.32 trillion 2026 budget after signing the Appropriation Bill passed by the National Assembly into law.....KINDLY READ THE FULL STORY HERE▶
He also approved an amendment extending the lifespan of the 2025 budget from March 31 to June 30, 2026, to ensure completion of ongoing capital projects nationwide.
Under the 2026 fiscal plan, ₦4.799 trillion is set aside for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent spending, while ₦32.2 trillion goes to capital projects—about half of the total budget.
The focus, according to the administration, is on infrastructure development, security, and growth-driven investments aimed at improving living standards.
Speaking on the development, presidential aide Bayo Onanuga said the extension of the 2025 budget will help ensure full use of allocated funds, especially for major ongoing projects.
Tinubu directed all ministries, departments, and agencies to ensure transparency, discipline, and value-for-money in implementing the budget, while praising the National Assembly for its swift passage of the bill.
He also reaffirmed his administration’s commitment to economic reforms, revenue growth, job creation, and social welfare improvements.
The Peoples Democratic Party (PDP) in Kwara State has described moves to prosecute former Senate President Bukola Saraki and former Governor Abdulfatah Ahmed over alleged culpable homicide as an attempt to reopen the 2018 Offa robbery tragedy for political purposes.....KINDLY READ THE FULL STORY HERE▶
In a statement on Friday, the party’s spokesperson, Olusegun Adewara, said the development is a disturbing and dangerous politicisation of a case they claim has already been addressed through judicial processes.
He warned against dragging the state into fresh tension, accusing the state government of attempting to revive old allegations for political advantage.
Adewara said the PDP would not remain silent while what he called “political narratives” are used to influence public perception around a tragic incident that claimed multiple lives in Offa in 2018.
He also urged residents, especially affected families, not to allow their pain to be used for political gains, insisting it is unjust to associate Saraki with the crime.
The party further alleged that the move is aimed at distracting attention from governance challenges in the state.
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