The Director-General of the National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar, said on Monday the country’s pension fund has increased to N12.66 trillion.
Dahir-Umar, who disclosed this at the 2021 Journalists Workshop held in Lagos, revealed the number of contributors under the Contributory Pension Scheme (CPS) currently stands at 9.38 million.
She assured stakeholders in the pension industry that the implementation of the CPS remained on course.
Represented at the forum by Peter Aghahowa, PenCom’s Head of Corporate Communications, Dahir-Umar noted that the consistent growth of the pension industry justified the commission’s overriding investment philosophy of ensuring the safety of pension assets.
She stressed that the emergence of the COVID-19 pandemic necessitated the review of business processes in organizations across the world.
The PenCom chief said: “COVID-19 has engendered socio-economic disruptions of the entire global order, with multifarious challenges in conducting hitherto routine activities.
“It was, therefore, imperative for the commission to deepen technological innovation to navigate through the challenges imposed by the pandemic.
“The most recent technological innovation introduced by the commission is the in-house designed and developed an online enrolment application.
“The application has capabilities to register, verify and enroll prospective retirees of Treasury-Funded Federal Ministries, Departments, and Agencies (MDAs).”
Join the conversation
SPECIAL REPORT: Displaced residents of Zamfara battle hunger, as underfunding derails Nigeria’s nutrition goals
On paper, Muhammad Zayyanu is seven years old. The quiet boy who looks shorter for his age could not recollect...
INVESTIGATION: N7.3bn paid for unnamed projects; how Nigerian govt spent N2.2trn in six months
Analysing nearly 3,000 payments made by various Federal Government Ministries, Departments and Agencies (MDAs) over the previous six months (January...
INVESTIGATION… Delay rocks Nigerian govt’s promise of N30,000 covid-19 relief for artisans, others
Before the outbreak of the COVID-19 pandemic in February, 2020, Chukwudi Okoroigwe’s daily earnings as a bus driver was hardly enough to cater to the...
INVESTIGATION… Ten years after, communities count losses as AfDB, Cross River govt abandon road project
Ten years after the Cross River State government and African Development Bank (AFDB) jointly awarded the Yahe-Wanokom-Wanikade-Benue border road for...
INVESTIGATION….N.3bn down the drain: Why water projects for Enugu communities don’t work
In this concluding part, ARINZE CHIJIOKE talks about some of the projects that are serving the people and how various WASH programmes have failed to tackle...