Editors' PickTrending News

Groups praise PenCom DG as pension assets reach N14.6tr

Following accusations of embezzlement and corruption made against Mrs. Aisha Dahir-Umar, the Director-General of the National Pension Commission (PenCom), has received the backing of the Conference of Civil Society Organizations.

The CSO urged the President to disregard the claims, which they characterized as baseless, noting that several beneficial advancements in pension reforms were noted under Dahiru-Umar.
At a press conference in Lagos, the CSOs’ coordinator, Comrade Declan Ihekaire, stated that under Dahir-Umar, PENCOM saw “an exponential expansion of pension assets from N6.42 trillion in 2017 when she started office to N14.6 trillion as of October 2022,” indicating a gain of more than 100%.

Read Also: I will ensure success of C/River tourism industry—Obi 

They also praised the pension industry’s effective recapitalization, which enhanced investor confidence in the sector from N1 billion to N5 billion.
“The DG’s reforms led to Mr. President’s approval of the sum of N159.466 billion towards the end of last year for the payment of outstanding accrued rights and other pension liabilities of the government retirees,” they continued.

“As a result, the Civil society organizations have decided to pass a vote of confidence on the director general of the National Pension Commission PenCom and charge her not to be distracted by doubters and self-centered people who are out to tarnish her impeccable record at the Commission,” the statement reads.

Related Articles

Back to top button
WordPress Cookie Notice by Real Cookie Banner