Business

PenCom DG Advocates Inclusivity in Social Protection Services

Published

3 weeks ago

April 28, 2026

Preport

BY NKECHI NAECHE-ESEZOBOR—The National Pension Commission (PenCom) has reiterated the importance of effective communication in strengthening social security systems, as its Director General, Omolola Oloworaran, participated in the 2026 ISSA West Africa Technical Seminar held in Abuja.

The seminar, hosted by the Nigeria Social Insurance Trust Fund in collaboration with the International Social Security Association, focused on the theme: improving inclusivity and access to social security services through clear and effective communication. It brought together stakeholders from across West Africa to explore ways of enhancing service delivery and public engagement.

Speaking at the event, Oloworaran commended the organisers for convening the dialogue and highlighted the Federal Government’s ongoing efforts to expand social protection. She noted that President Bola Ahmed Tinubu has shown commitment to social welfare by supporting vulnerable citizens through initiatives such as cash transfers, improved healthcare access, and the settlement of outstanding pension obligations.

The PenCom DG explained that while the Contributory Pension Scheme has built a solid institutional framework over the years, achieving real inclusion requires more than just expanding coverage. According to her, trust and understanding among contributors are critical, which is why the commission continues to strengthen stakeholder engagement, promote the Personal Pension Plan, and expand digital communication channels.

She emphasised that communication plays a central role in the success of pension reforms and service delivery, noting that policies and benefits can only be effective when contributors clearly understand and are able to act on them.

The engagement, she added, reflects PenCom’s broader commitment to building a more transparent, inclusive, and responsive pension system, where clear communication helps bridge gaps in access, foster trust, and support long-term growth in the sector.

The post PenCom DG Advocates Inclusivity in Social Protection Services appeared first on Business Today NG.

Business

NAICOM Chief, Omosehin, Visits Family of Late Barrister Rotimi Edu

Published

2 hours ago

May 21, 2026

Preport

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‎From left: Mr Ola Gam-Ikon, Deputy Commissioner, Finance and Administration, NAICOM; Mr Olusegun Ayo Omosehin, Commissioner for Insurance, NAICOM; Mrs Edu, The Widow; Dr Usman Jankara, Deputy Commissioner, Technical, NAICOM; and other visitors.

The management of the National Insurance Commission (NAICOM), led by the Commissioner for Insurance, Mr Olusegun Ayo Omosehin, has paid a condolence visit to the family of the late Barrister Rotimi Edu.

The regulatory body’s leadership visited the bereaved family to commiserate with them and honour the remarkable legacy left behind by the deceased.

Describing Barr. Edu’s life as a true celebration of impactful service, the Commission praised his invaluable contributions to the growth, transformation, and development of the Nigerian insurance sector.

NAICOM noted that his dedication, leadership, and visionary approach would continue to inspire future generations within the industry.

In a statement, the Commission expressed its solidarity with the Edu family during this difficult time of grief, adding that the insurance community would forever cherish his enduring achievements and the indelible mark he left on the profession.

Business

Otedola to invest $100 million in Dangote Petroleum Refinery through private placement

Published

8 hours ago

May 21, 2026

Preport

Femi Otedola, the chairman and biggest shareholder of financial services group First HoldCo Plc, hopes to invest $100 million in the proposed private placement of Dangote Petroleum Refinery.

The billionaire tycoon made this known to journalists during a tour by the management team of First HoldCo to the refinery in Lagos on Wednesday.

“On a personal note, I have approved him. I’ve been here with him 25 times, so my compensation is that he’s going to allocate to me shares valued at $100 million in the private placement. That was one of the reasons I sold my shares in Geregu Power Plants — to invest in the IPO of Dangote Refinery,” Mr Otedola said of Aliko Dangote, Africa’s richest man and owner of the refinery.

Dangote Petroleum Refinery, Africa’s largest oil refinery, is raising $2 billion through a private placement targeting institutional investors and high-net-worth individuals.

A similar plan to source $5 billion through an initial public offering, equivalent to 10 per cent of its valuation, is also in the works. According to a Bloomberg report this month, the refinery is targeting a valuation of around $50 billion ahead of the planned share sales.

Mr Otedola noted that he hopes to invest part of the proceeds from the divestment of his shareholding in Geregu Power, an electricity generation company he took public in October 2022, in the private placement.

He sold his stake in the power company last December in a $750 million transaction.

The refinery is looking to list the shares from the planned offers across multiple stock exchanges through cross-border listings, opening them to investors in different markets.