PenOp’s governing council commends PenCom on RSA transfer system

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Chuks Udo Okonta

The Governing Council of the Pension Fund Operators Association of Nigeria (PenOp), at its recent meeting has commended the National Pension Commission (PenCom) on the opening of the transfer window, while also emphasizing the need for Pension Operators to maintain high standards of ethics in the conduct of their business, especially in light of the opening of the transfer window.

A statement by the Media, Communications & Branding Officer, PenOp, Ukemeobong Akanam, said the Council believes this move will accelerate the journey towards greater self-regulation in Nigeria’s Pension Industry. The Council also commended President Buhari for the constitution of the PenCom board.

The Governing Council meeting which was held virtually for the first time had in attendance all the Trustees and Executives of the association. The meeting was directed by the Chairman of the council of PenOp – Professor Fabian Ajogwu (SAN).

The other attendees included Ms. Daisy Ekineh, the former acting Director-General of the Security Exchange Commissionand CEO of DSE advisory Limited , Muhammad K Ahmad; Pioneer Director-General of the National Pension Commission and current chairman of Polaris Bank, Alhaji Bello Maccido; Chairman of FBN Quest Merchant Bank Limited and six Executive Council members comprising of Wale Odutola; President, Akeeb Akinola; Vice President, Oguche Agudah; CEO PenOP, Amaka Andy-Azike; Head of Branding & Communications Committee, Glory Etaduovie; Head, Legal And Regulatory, Eric Fajemisin; Head, Technical Committeeand Bayo Yusuf; Treasurer.

The Governing Council of PenOp provides advice and guidance to the Executive Committee in the running of the affairs of the association.

PenOp is an independent, non-governmental, non-political and non-profit making body established to promote the operations of the pension industry, provide for self-regulation and ensure that international best practices relating to the industry are observed by the operators registered in Nigeria.

It is the umbrella association for all the Licensed Pension Fund Custodians, Pension Fund Administrators and Closed Pension Fund Administrators (PFCs, PFAs and CPFAs) operating in Nigeria.

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