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flag Nigeria inaugurates new pension board to manage $34B in assets and ensure transparent retiree payments.

flag The Nigerian Federal Government has inaugurated the new Board of the National Pension Commission (PenCom), tasked with overseeing over ₦28 trillion in pension assets under the Contributory Pension Scheme. flag Secretary to the Government of the Federation, Sen. George Akume, emphasized the board’s role in ensuring transparency, accountability, and effective governance under the Pension Reform Act 2014, urging members to uphold integrity and avoid interference in operations. flag The board, chaired by Dr. Opeyemi Agbaje, includes representatives from key institutions and labor groups. flag Officials reaffirmed the government’s commitment to resolving pension liabilities and ensuring timely, dignified payments to retirees, while highlighting the potential of pension funds to support national development.

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