The Nigerian Senate has confirmed Opeyemi Agbaje as the new Chairman of the National Pension Commission (PenCom).
Agbaje’s confirmation came during Tuesday’s plenary session presided over by Deputy Senate President Jibrin Barau, following the presentation of the screening report by Senator Cyril Oluwole Fasuyi, Chairman of the Senate Committee on Establishment and Public Service.
Okay News reports that the Senate also approved the appointments of four new national commissioners who will serve alongside Agbaje in the reconstituted PenCom board.
Those confirmed include Hafiz Mohammed Kawu (Commissioner for Technical, representing the North-West), Samuel Chigizie Nwandu (Commissioner for Inspectorate, representing the South-East), Charles Efe Sylvester Emukowate (Commissioner for Finance, representing the South-South), and Bello Abubakar Malabu (Commissioner for Administration, representing the North-East).
Barau, who presided over the confirmation process, read the names of the nominees on the Senate floor, stating that their appointment would help strengthen PenCom’s institutional framework and drive pension reforms across Nigeria’s public and private sectors.
Before his appointment, Agbaje served as Chief Executive Officer of RTC Advisory Ltd, a strategic consulting firm. A banker and lawyer by training, he previously chaired the Ogun State Security Trust Fund and has earned recognition as a prominent policy analyst, columnist, and television presenter through his programme, The Policy Council.
He is also a faculty member at the Lagos Business School and the author of several publications on economics, governance, and public policy.
Agbaje’s appointment is seen as part of President Bola Tinubu’s efforts to reinvigorate the nation’s pension administration system, ensuring accountability, transparency, and improved returns for contributors.
PenCom plays a central role in Nigeria’s pension architecture, overseeing the implementation of the Contributory Pension Scheme (CPS) established under the Pension Reform Act 2014, which as of August 2025 manages funds exceeding ₦26 trillion.
