Omolola Oloworaran

Official account of the Director General of the National Pension Commission (PenCom) @PenComNig

[Omolola Oloworaran @Omololabo]

The National Pension Commission is proud to announce the launch of Pension Revolution 2.0 - Stronger Pensions, Stronger Nigeria. A transformative programme of reforms that builds on two decades of progress to guide Nigeria’s pension industry into its next phase of growth and resilience.

The first great turning point came in 2004 with the enactment of the Pension Reform Act, which introduced the Contributory Pension Scheme (CPS) and revolutionised retirement savings in Nigeria. That reform laid the foundation for confidence, discipline, and sustainability in our pension system.

Two decades later, we stand at another defining moment. Pension Revolution 2.0 is the most significant advancement since 2004, bold in ambition, yet evolutionary in practice. It ushers in a new era of dignity for retirees, inclusion for every Nigerian worker, and resilience for our national economy.

This programme is guided by the vision of His Excellency, President Bola Ahmed Tinubu, who has directed that our pension system must enable dignity in retirement, broaden access for all Nigerians, and mobilise long-term savings as reliable capital for national development.

Beginning this week, the Commission will release the new regulations daily. Each guideline sets higher standards across critical pillars - from investment and risk management to governance and compliance, to service delivery and financial inclusion. In line with the President’s directive, the Commission will also, within the next three months, pilot health insurance coverage for retirees and activate the Minimum Pension Guarantee, with the aim of safeguarding retirees’ dignity and supporting a decent standard of living.

Collectively, these reforms represent a bold step forward:
1.Enabling dignity for retirees through health insurance and a minimum pension floor.
2.Optimising investment performance while safeguarding contributors’ funds to deliver sustainable long-term returns.
3.Expanding pensions to reach every Nigerian, especially those in the informal economy.
4.Harnessing technology and innovation to democratise access and improve service delivery.
5.Unlocking pension assets as a dependable source of financing for national development

Pension Revolution 2.0 is more than regulatory reform, it is a renewal of trust, an evolution of our system, and a bold national strategy.
#StrongerPensionsStrongerNigeria.

[National Pension Commission (PenCom) @PenComNig]

Federal Government Commences Payment of Additional Exit Benefits to Retiring Civil Servants

[National Pension Commission (PenCom) @PenComNig]

Your retirement savings just got easier!

No bank visits. No paperwork. Just walk into any participating Moniepoint agent nationwide and start saving for your future through Pension Direct.

Whether you're a trader, artisan, freelancer, transport worker, or small business owner, securing your future is now as easy as making a daily transaction.

Start today. You will be glad that you did.

#PensionDirect #PersonalPensionPlan #SaveForRetirement #YourPensionYourFuture #PenCom

[Omolola Oloworaran @Omololabo]

For the avoidance of doubt, my comments were in relation to employer pension contributions, not employee contributions.

Engagements with organised labour, employer associations and other key stakeholders are still ongoing, and no final decision has been taken. Nigerians should be rest assured that PenCom will not introduce any reform that makes life harder for ordinary Nigerians. Any eventual reform will be consultative, evidence based and carefully designed to strengthen retirement security while balancing the interests of workers (our top priority), employers and the wider economy.

[Presidency Nigeria @NGRPresident]

Director General of the National Pension Commission (PenCom); Omolola Oloworaran, on Tuesday briefed the State House Press Corps on Two Years of Historic Pension Transformation.

@PenComNig | @Omololabo

[Omolola Oloworaran @Omololabo]

@OAeoleon @PenComNig Kindly engage and advise on how the Commission can be of assistance in resolving this matter

[Omolola Oloworaran @Omololabo]

@trustfundpltd @Ammydolls @PenComNig Apologies for this unacceptable delay.

The PFA will be directed to engage immediately and resolve this matter no later than Friday. The Commission will monitor closely to ensure full compliance.

Kindly DM @PenComNig with details if not already done.

[Omolola Oloworaran @Omololabo]

Thank you for reaching out.

Please be assured that the matter you raised is currently being reviewed. I have also requested the relevant team to prioritize the investigation so that it can be resolved as quickly as possible.

The Commission takes complaints from contributors very seriously, and we will never side with non compliant companies against hardworking Nigerians. Our responsibility is to protect contributors and ensure that all employers fully comply with the provisions of the Pension Reform Act.

Kindly allow the investigation process to run its course. You will be contacted once the review is concluded.

Thank you for your patience.

[Omolola Oloworaran @Omololabo]

Today we celebrate the millions of Nigerian women in the informal sector who power our economy every day.

Across Nigeria, market women, traders, farmers, artisans and small business owners rise before dawn each day to support families, strengthen communities and keep our nation’s economy moving.

These hardworking women deserve dignity and financial security in old age.

This International Women’s Day, we are expanding pension access through the Personal Pension Plan.

Start saving from as little as ₦1,000 and this week every contribution by a woman in the informal sector will be matched up to ₦20,000.

Save small today. Gain big tomorrow.

#InternationalWomensDay

[National Pension Commission (PenCom) @PenComNig]

International Women's Day Initiative: Open a PPP Account and start saving today to secure your tomorrow!

We will add extra money to your savings when you contribute between 9th - 13th March, 2026. Save small today. Gain big tomorrow!

Footage courtesy of Per second News!

#GiveToGain #WomensDay #WomenAndPensions #SecureYourFuture

[National Pension Commission (PenCom) @PenComNig]

Open a PPP Account and Start Saving today to secure your tomorrow!

From 9–13 March 2026, open a PPP account and get extra money added when you save.

Save small today. Gain big tomorrow!

#GiveToGain #WomensDay #WomenAndPensions #SecureYourFuture

[THISDAY LIVE @THISDAYLIVE]

DISRUPTING THE OLD PENSION ORDER.  OMOLOLA OLOWORARAN writes that accredited pension agents will drive pension coverage beyond offices and formal payrolls Nigeria has stood at moments like this before – moments when a single reform quietly alters... https://t.co/WLd8Jy50yl

[The Nation Nigeria @TheNationNews]

Accredited pension agents: Disrupting the old pension Order https://t.co/lLKZfQll1M

[Omolola Oloworaran @Omololabo]

After waiting for many years, justice has finally come for 2,116 NSITF retirees.

I am proud to announce that PenCom has approved a long overdue pension increase, raising total monthly payments from ₦12.56m to ₦159.95m, representing a 1,173 percent increase.
Over ₦8.7bn in pension arrears has also been paid.

On average, monthly pension per retiree increased from about ₦4,400 to approximately ₦56,000.

Under the leadership of Bola Ahmed Tinubu, pension funds are being actively monitored to ensure fair compensation and strict compliance with the law.

This is accountability to ordinary Nigerians.
Real money. Real people. Real impact.

[Peoples Gazette @GazetteNGR]

PenCom boosts NSITF pensions by 1,173%, pays N8.7 billion arrears to 2,116 retirees https://t.co/Z4tIZLzdUj

[Omolola Oloworaran @Omololabo]

This is precisely why I suggested starting with questions.

You are conflating accrued rights and the statutory 2.5% differential paid during the last administration with the separate, explicit top-up obligation for professors retiring at 70, which was the focus of your original post. They are not the same, and treating them as such leads to the wrong conclusion.

Government has taken the hard decision to recognise, fund, and clear accumulated pension obligations in full, through the ₦758 billion bond issued specifically to settle outstanding liabilities. There are different categories of government pension liabilities, and for the first time in almost two decades, we are in a position to say that all recognised pension liabilities have been cleared. I am not overselling the President; I am simply stating the facts of what this administration has achieved in terms of Pension

That does not mean future liabilities will not arise. They will. What matters is how they are handled. These obligations are now being funded annually and managed proactively, rather than allowed to accumulate into another crisis. That is the critical break from the past.

Most pension systems are complex and imperfect, particularly those transitioning from DB to DC. The existence of legacy DB-style obligations does not mean the CPS is collapsing. It means those obligations must be explicitly identified, transparently funded, and properly ring-fenced.

This has never been presented as innovation. It is being presented for what it is: responsible execution of existing legal obligations, coupled with reforms to prevent a repeat of history.

Government is indeed a continuum. That is exactly why our focus is on sustainability. We will continue to work with government to address future liabilities prudently and responsibly as they arise. I can only afford to be optimistic, anchored on what the President has already delivered,

I will always welcome constructive criticism grounded in facts and good-faith engagement. That is how systems improve.

[Omolola Oloworaran @Omololabo]

With the greatest respect, describing a position as “nonsensical” while simultaneously calling for respect is unnecessary. Robust policy debate does not require dismissive language. That said, I will overlook the insult and focus on substance.

No serious pension regulator believes that long-dated liabilities are “assured” simply because of who is President today. That is a mischaracterisation of my position. The point being made is far more basic and far more important: for the first time in over a decade, an existing statutory pension obligation is being honoured rather than deferred.

Pension sustainability is not achieved by pretending obligations do not exist. It is achieved by acknowledging them, funding them annually, and reforming the system so arrears do not accumulate. That failure to confront reality is precisely what led to the collapse of the old Defined Benefit era, where liabilities were ignored until they became catastrophic.

I have been clear, including in this thread, that the real risk in pension systems has always been future administrations failing to sustain fiscal discipline. That is why PenCom’s work under this administration is focused on structural reforms, not political assurances, to ensure that government pension top-ups are predictable, funded, and sustainable over time.

Finally, engaging the public on pensions is not recklessness; it is accountability. Pensions affect livelihoods over decades, and informed public discourse should be encouraged, not shut down with condescension. As I stated earlier: “The direction is clear: honour existing promises, protect the CPS framework, and build sustainability so today’s delivery endures tomorrow.”

We can disagree sharply on policy without resorting to dismissiveness. The issues are too serious for that. Perhaps it would be more productive to ask clarifying questions before arriving at conclusions not grounded in the facts presented.

[Omolola Oloworaran @Omololabo]

First things first, credit must be given where it is due. This is a historic delivery on pensions for professors, and it has happened under this President.

It is important to clarify that this commitment was not created by the current administration. The provision for professors to retire at age 70 with enhanced pension benefits, including up to 100% of final salary, has existed for over a decade under the Pension Reform Act 2014. What was missing for years was political will and funding. What we are seeing now is delivery for the first time in more than ten years.

It is therefore only fair to acknowledge that President Tinubu took the difficult but responsible decision to honour this long-standing obligation, clearing accumulated pension differentials and restoring confidence among affected retirees. This marks a clear break from the past, where such liabilities were repeatedly deferred and allowed to accumulate.

I fully understand your concerns about sustainability, particularly beyond the tenure of the current administration. While I am confident that this President will continue to honour these obligations, history shows that the greater risk has always been future administrations failing to sustain discipline.

That is precisely why PenCom, under the leadership of this President, is driving reforms to ensure that all government pension top-up obligations including this one are sustainable in the long run. In the interim, government is funding these obligations annually, preventing arrears and avoiding the systemic failures that characterised the old Defined Benefit Scheme.

I would therefore encourage you to continue to watch this space. The direction is clear: honour existing promises, protect the CPS framework, and build sustainability so today’s delivery endures tomorrow.