By Joan Nwagwu

The Nigeria Employers’ Consultative Association (NECA) has commended President Bola Tinubu for his consistent interest in the welfare of retirees and pensioners across the country.

Mr Adewale-Smatt Oyerinde, NECA’s Director-General, gave the commendation in a statement on Sunday in Abuja.

He said this reflects a deep recognition of the value of workers who have dedicated their productive years to building the Nigerian economy.

Oyerinde described the President’s consistent attention to pension-related matters as a strong signal of his administration’s dedication to social protection and economic dignity in retirement.

He said it also demonstrates commitment to the long-term sustainability of the pension system.

“One critical step to sustain this momentum is the timely reconstitution of the Governing Body of the National Pension Commission (PenCom),” Oyerinde stated.

This, he said, should be done in full compliance with the Pension Reform Act.

He warned that the absence of a fully functional Governing Body affects effective oversight, policy direction, and corporate governance within PenCom.

PenCom, he noted, manages funds which are the life savings of millions of Nigerian workers.

“The pension industry thrives on trust, transparency, and sound governance,” Oyerinde said.

He stressed that reconstituting PenCom’s Governing Body promptly would safeguard these principles, uphold the law, and boost public confidence in the entire pension system.

Oyerinde said NECA, however, reaffirmed its longstanding commitment to the growth and development of the pension sector.

He pledged that NECA would continue to work with the government and stakeholders to strengthen pension administration in Nigeria.

He added that this includes advocating for policies that ensure pension asset safety, expand pension coverage, and improve the welfare of all retirees.

“As the umbrella body for organised business in Nigeria, NECA will remain a vocal advocate for a sustainable pension system that works for all.

“A strong pension industry is not just about retirement benefits; it is about economic stability, social cohesion, and intergenerational fairness,” Oyerinde said. (NAN)

Edited by Kamal Tayo Oropo