New PenOp leadership targets institutionalisation of body

New leadership of the Pension Fund Operators Association of Nigeria (PenOp) has promised to put structures in place that would institutionalise the body to become more relevant and carry out its mandate more effectively.

Misbahu Yola, chairman, PenOp who took over from Dave Uduanu said having been part of the former executive; this is a responsibility that must be taken seriously.

Yola said his focus includes to work with the National Pension Commission (PenCom) to ensure the successful implementation of the multiple funds investment products, expected to create additional value and better returns to contributors.

“We shall also work with the Commission to ensure effective takeoff of the transfer window, as well as efforts to bring majority of people in the informal sector to join the contributory pension scheme,” Yola said, adding that the present 5.82 million contributors in the scheme is far below expectations judging by the population of the working class in the country.

The Chairman said his administration would place emphasis on branding and communication, adding that the association would engage and interact more with the public to ensure that proper knowledge about the industry’s operations is acquired.

“We shall work closely with the media to ensure proper dissemination of information about the sector, stressing that the essence of the media in education and enlightenment cannot be overemphasised particularly for a young industry like ours.

He called on all stakeholders to join hands with his administration to take the sector to lofty heights.

Other members of the executive include Usuman Suleiman, head, branding and communication; Sadiq Mohammed, head, technical; Nkem Oni-Egboma, treasurer; Wilson Ideva, head, legal regulation.

Misbahu Yola

Misbahu Yola holds a B.Sc in Building (1983) and MBA (1988) from Ahmadu Bello University, Zaria is the managing director, Legacy Pension Managers Limited. He is an alumnus of world class executive education schools including INSEAD, IMD and University of Virginia. Until his appointment as managing director, he was the company’s executive director. His has wide experience ranging from engineering, to finance, operations, and information technology management.