Except the Pension Reform Act, 2014 is amended ahead of her confirmation hearing by the senate, Omolola Oloworaran is not statutorily qualified to be the director-general of the National Pension Commission (PenCom).
Announcing the appointment on Saturday, Ajuri Ngelale, the presidential media aide, described Oloworaran as a “finance and banking expert with many years of experience”.
Section 26 (1) of the PRA 2014 empowers the president to appoint the director-general of the agency, stating that such appointment will be subject to the confirmation of the senate.
However, section 26 (2)(d) of the act, stipulates that the director-general must “possess a relevant and adequate professional qualification in pension matters with 15 years cognate experience”.
In the last 20 years, Oloworaran’s career path in the private sector has been in the financial industry.
According to her LinkedIn profile, her career has cut across various companies: Renaissance Capital, FDHL GROUP, Stanbic IBTC and First Bank.
The Cable.
