Pension Industry Enlightenment Series Begins on Radio

Chief Executive Officer of PenOp, Oguche Agudah

Driven by the need to educate, inform and enlighten various stakeholders, the pension industry has embarked on a radio program that seeks to shed light on various aspects of the pension industry in Nigeria.

The Nigerian pension industry operates under a Contributory Pension Scheme (CPS) which started through the enactment of an Act of Parliament, 20 years ago and the scheme has grown tremendously over the years, but a number of people still don’t understand some aspects of this scheme. So, the pension industry has put together a series of interviews to shed more light on these issues.

The interviews are structured as conversations between a number of the CEOs and CIOs of pension funds within the industry, and these interviews delve into so many issues and many topics.

The interviews will be covering things like, “How are your pensions invested”; “What is the history of the CPS in Nigeria”; “How do you access your benefits”; “Pension funds and SMEs”; “Pensions and technology”; “Understanding voluntary contributions”; “Micro pensions”; “The closed pension fund administrators”; “Multi-fund structure of the Nigerian pension industry”; “Safe custody of pension funds.” Amongst others.

These interviews will be aired on radio every week for the next 10 weeks and it will be aired on Nigerian info Lagos and Abuja. In Lagos, the interview will be aired at 6:30am every Saturday and in Abuja at 7:30am every Monday which began from 27th of April 2024.

Speaking on this development, the Chief Executive Officer of PenOp, Oguche Agudah said “we felt that these interviews and conversations were necessary in order to bridge the gap between the knowledge of various stakeholders and the pension industry. We realize that pensions can sometimes seem complex, but we hope to simplify these concepts to make them better appreciated and to enlighten various stakeholders on functions of PFAs, PFCs, how pensions are invested and some of the other things that we felt people do not have a grasp on.

“These interviews are conversational, and they are also serialized on all our social media platforms and via podcasts. Essentially, we look forward to engaging the public and making these concepts more appreciated and just getting people to understand the industry better and appreciate how pensions impact them and the society at large. This will enable them engage with the industry from a more informed position”