The director-general of the National Pension Commission, Omolola Oloworaran, says the commission has begun the disbursement of N758 billion bond approved by the federal government to clear outstanding pension liabilities.
Ms Oloworaran said this while giving her one-year scorecard at the Pension Revolution Summit in Abuja on Monday.
She said that the N758 billion bond approved by President Bola Tinubu in February had been cashed.
She said that over N600 billion had been disbursed to clear the outstanding liabilities.
According to her, the country’s pension assets have grown to about N27 trillion as a result of the bold decision and structured reforms.
Ms Oloworaran said that a lot had been achieved in the industry in the last year.
She said that the commission had rebuilt the trust, expanded coverage, strengthened governance, and moved the contributory pension scheme firmly into the next phase.
“Over a year ago, I was confirmed as the DG with a clear mandate to rebuild trust. We expanded coverage, we strengthened governance, and moved the contributory pension scheme firmly into the next phase.
“I am proud to say that this past year has been defined by bold decisions, structural refunds and measurable impacts,” she said.
Ms Oloworaran added, “That was the most comprehensive reform agenda in the Nigerian pension industry since 2004. This was not a cosmetic reform.
“It was structural. It brought together new regulations, stronger supervision, governance reforms, digital transformation, and industry realignment. All of these were designed to ‘future proof’ the pension industry and position it as a pillar of national stability and long-term development.”
(NAN)