Musings in anticipation of the Abuja Pension Summit

The other day, watching television, I saw the Director-General of the National Pension Commission (PenCom), Mrs Chinelo Anohu-Amazu, speaking and while she was quite pretty, all I focused on was what she was saying and how she was saying it. She was talking about the World Pension Summit Africa Special that will kick off in […]

The other day, watching television, I saw the Director-General of the National Pension Commission (PenCom), Mrs Chinelo Anohu-Amazu, speaking and while she was quite pretty, all I focused on was what she was saying and how she was saying it. She was talking about the World Pension Summit Africa Special that will kick off in Abuja next week, and she spoke on how it will deepen the discussion around ensuring that pension funds are invested in the real sector for visible and measurable impact on the economy, while boosting retirement benefits. Now, I’ll elaborate on her looks later, but for now I’ll just focus on how excited she said she was by the opportunities that the world summit will present, providing solutions to some of Africa’s most pressing pension investment challenges.
I Googled the event on my phone and I saw that global experts on pension innovation, leaders of thought and key practitioners are expected in Abuja between September 27 and 28 to brainstorm on key elements of developing and structuring a sustainable pension system for Nigeria and other African nations. All I could think was ‘Wow!’ Here’s a young-ish, beautiful and brainy woman heading a key organisation in Nigeria, and not much celebration is done on her behalf. Instead, vultures have started circling her work. Said carrion-eating birds, however, are bound to fail, as I saw in her (admittedly on TV) a fire, and a passion for her job. She’s also got poise, and charisma, in such a way that reminds me of the late Dora Akunyili.
But I digress. It is clear that with the theme “Pension Innovations: The African Perspective”, the summit as designed by the PenCom in partnership with the Pension and Investments/World Pension Summit, Amsterdam, will focus on innovations in the pension industry in Nigeria and Africa. Somehow, that reminded me that I once read somewhere that the PenCom’s work is famous around the globe, with many an African country visiting to learn from us, Nigeria. In these dire times, it is heartening to see an organisation as vital as it is, headed by a professional as well-equiped for the job as Mrs. Anohu-Amazu.
From my writing, obviously, a reader can tell where my professional slant lies, and yeas, I’m an economist. Which is why it particularly made me happy to learn that to stimulate and encourage African scheme owners and funds to work on professionalizing retirement practice in Africa, the pension summit has also planned to host the second edition of the Africa Pension Awards. Nothing sparks creativity and enthusiasm like a good, healthy competition to bring out the best in people.
The PenCom DG served on the Pension Reform Committee set up by former President Olusegun Obasanjo, whose work led to the enactment of the Pension Reform Act (PRA) 2004, the first of the two major legislations that have reformed the Nigerian pension sector. Honoured with a presidential commendation for her work, and after a period working as a consultant for non-governmental organizations and the private sector, she commenced her public sector career with the Bureau of Public Enterprises (BPE) and was the pioneer Commission Secretary/Legal Adviser of PenCom.
I am delighted, also, to know that many seasoned pensions professionals will be present. I will close the technical talk to express how happy I am that a woman is doing our nation proud. This summit, to be held here in Nigeria, is timely. Especially at a time the country is in economic recession.
Umar wrote in from Wuse II, Abuja.