Ex-DG urges FG to constitute PenCom board

July 10th, 2019

From Edet Udoh, Lagos

The Former Director-General, National Pension Commission (PenCom), Muhammad Kabir Ahmad, has called on the Federal Government to constitute the board of the commission as a matter of urgency.

Ahmad, who was the Chairman of a session, at the just concluded 2019 National Insurance Conference in Abuja, noted that non-constituiton of board for the commission is slowing down down the pace of growth for the pension industry.

Speaking to journalists at the event, he added that, without a board, there will be no proper direction for the regulatory body as well as the pension industry.

While applauding the commission for rolling out series of initiatives to enhance pension system in the country, he believes proper constitution of PenCom board would make these policies have the desired impacts.

Moreover, he advised industry stakeholders, especially, the regulator to make pension scheme a private driven initiative by persuading and unveiling that which would bring in more private sector players into the pension system.

Recall, President Muhammadu Buhari had appointed Funsho Doherty and Alh. Aliyu Dikko as the Chairman and Director-General of PenCom respectively, in April 2017, subject to senate’s confirmation, but the Vice President, Prof. Yemi Osinbajo, effected a slight change in the appointments on May 27, 2017, appointing Funsho Doherty as DG, subject to senate’s confirmation, while he moved Aliyu Dikko to the Bank of Industry as board chairman.

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