Groups laud PenCom DG as pension assets hits N14.6tr

The Conference of Civil Society Organizations has thrown their support behind the Director-General of the National Pension Commission (PenCom), Mrs Aisha Dahir-Umar, following allegations of misappropriation and corruption levelled against her.

The CSO appealed to the President to ignore the allegations which they described as frivolous, saying under Dahiru-Umar, many positive developments were recorded in pension reforms.

Coordinator of the CSOs, Comrade Declan Ihekaire at a press conference in Lagos said under Dahir-Umar, PENCOM recorded “an exponential growth of pension assets from N6.42 trillion in 2017 when she assumed office to N14.6 trillion as of October 2022” which shows an increase of over 100 percent.

They also lauded the successful recapitalization of the pension industry from N1billion to N5 billion, a move that has increased investor confidence in the sector.

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They added, “The DG’s reforms led to the approval by Mr. President towards the end of last year of the sum of N159.466 billion for the payment of outstanding accrued rights and other pension liabilities of the government’s retirees.

“As such the Civil society organizations have resolved to Pass a Vote of Confidence on the DG of the National Pension Commission PenCom and charge her not to be distracted by naysayers and selfish individuals who are out to stain her clean records at the Commission.”