The Nigeria Employers’ Consultative Association (NECA) has urged the Federal Government to urgently reconstitute the governing board of the National Pension Commission (PenCom) in line with the Pension Reform Act, warning that the leadership gap poses risks to trust and governance in the pension industry.
The call comes barely two weeks after a similar demand by the Nigeria Labour Congress (NLC).
NECA Director-General, Adewale-Smatt Oyerinde, said the absence of a functional board threatens effective oversight, policy direction, and the preservation of corporate governance in PenCom.
He commended President Bola Tinubu for prioritising retirees’ welfare but stressed that a strong pension industry is vital for economic stability, social cohesion, and fairness across generations.
Oyerinde reaffirmed NECA’s commitment to working with government and other stakeholders to secure pension assets, expand coverage to the informal sector, and improve the welfare of all Nigerian workers in retirement.
According to him, restoring PenCom’s board is critical to safeguarding the sector and boosting public confidence in the nation’s pension system.
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