The Director-General of the National Pension Commission (PenCOM), Omolola Oloworaran, has lauded the efforts of the Pension Transitional Arrangement Directorate (PTAD) in the management of pensions under the Defined Benefit Scheme (DBS).

The DG made this submission when the Executive Secretary of PTAD, Tolulope Odunaiya, paid her a courtesy visit on Monday March 3, 2025 at the Commission’s headquarters in Abuja.

The PenCOM boss while acknowledging the crucial role played by PTAD in the pension management in Nigeria, affirmed that the meeting was an opportunity to deepen collaboration between the two organizations in the pension industry.

The Executive Secretary of PTAD in her remarks acknowledged the support and guidance provided by PenCOM to PTAD over the years, as the pension industry regulator in Nigeria.

She further congratulated the Commission on the progress they are making towards settling accrued liabilities under the Contributory Pension Scheme and informed the DG of the outstanding liabilities of the DBS currently in excess of 88 Billion Naira and which PTAD had submitted to the Federal Government.

Tolulope Odunaiya, stated that she hoped the Directorate can continue to count on PenCOM’s support as PTAD embarks on the next decade of transformative pension administration.

Signed
Olugbenga Ajayi, mnipr
Head, Corporate Communications.
6th March, 2025