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Chuks Udo Okonta
The Conference of Civil Society of Nigeria (CCSN) has identified the National Pension Commission (PenCom) as one of the top performing Ministries, Departments and Agencies (MDAs) in Nigeria.
The CCSN, which is a coalition of Civil Society Organisations (CSOs) crusading for good governance and transparency, said PenCom “stands out as one of the most ambitious financial inclusion programmes targeted at the Civil Society and the informal sector of any developing economy in the world.”
The CSOs disclosed this in a letter to President Muhammadu Buhari dated 19 December 2022.
The letter was signed by the CCSN’s Chairperson, Comrade Adams Otakwu, and two other members of the coalition, John Ogar and Acheme Arumona.
PenCom “has become synonymous with positive, transparent and goal-oriented pension administration in Nigeria,” the letter intimated President Buhari.
The coalition observed that PenCom embodies “a welcome departure from the humongous corruption and inhumane treatment of our pensioners, that was the stock in trade prior to the current dispensation.”
The letter stated that PenCom, since 2019, has recorded phenomenal reforms of global reference.
“These include the extraordinary rise of pension assets and Retirement Savings Accounts, enhanced contributory registration system, payment of outstanding pension liabilities, recovery of outstanding pension contributions, increase in Minimum Share Capital for Pension Fund Administrators, and effective implementation of the Micro Pension Plan, which coopted the Civil Society into the pension scheme and has greatly enhanced our productivity and well-bring.”
Other top performing MDAs identified alongside PenCom by the CSOs include the Department of State Services (DSS), National Drug Law Enforcement Agency (NDLEA), and Central Bank of Nigeria (CBN).
The Head of the Corporate Communications Department of PenCom, said the development is a clear attestation to the reformed pension landscape in Nigeria spearheaded by PenCom.
He said the vote of confidence passed on PenCom by the CSOs would spur the management and staff to double their efforts towards continued effective regulation and supervision of the Contributory Pension Scheme (CPS) in Nigeria.