Nvidia founder and CEO Jensen Huang made his position on the dangers AI poses very clear while speaking at Salesforce’s Dreamforce conference on Tuesday. To him, AI isn’t some new form of “alien mind,” as at least one OpenAI safety researcher has described it. It’s just hardware and software, he says, built by humans. That means, in his view, it can be controlled by humans and existing laws.
“Safety is an engineering problem, not a legal one,” he said. “We’re developing software after all. We’re developing computing systems after all. It’s a complicated computing system, but it’s ultimately a computing system.”
Therefore, there’s no need for new laws or regulations to govern it, he argues. In fact, Huang sees little need for new laws at all. The free market, he argues, will be enough to pressure companies not to release unsafe products.
“If we’re not confident about the safety of the products, like all companies, like you and I, all the companies here, if you build a product or a service, and you’re not confident in its functionality, capability, or safety, then don’t release it. And so that’s a very obvious thing to do,” he said.
He continued: “You pace yourself until you are confident you’re releasing something that the market would appreciate. The market forces are already there. We don’t need any new laws. We don’t need new regulations. We just need companies to decide that when [to] run as fast as they can. I think innovation, speed, and safe products … it’s a false choice. You could definitely have both at the same time. So run as fast as you can. But if you feel at any given point in time the company’s out of control, or the product’s not going to be safe, you know, take a pause and make sure you get it right.”
In some ways, this is a comforting thought. If anyone in the world knows AI, it is Nvidia’s founder, who’s been building the hardware brains of AI since well before ChatGPT existed and now runs a company that also makes open source models, agents, harnesses, and sandboxes.
Then again, if we’re being cynical, his point of view is also unsurprising for someone who’s had his bread so well buttered by the AI boom. Why would he want regulation to come along and add in a layer of hinderance that could slow down Nvidia’s quest to sell ever more AI systems and software? As he also said in the interview: “I’m more ambitious than ever. As a result of our ambition, and with the product productivity boost that we get from AI, the sky’s the limit for us. The sky’s the limit for our company. The sky’s the limit for every industry, for every single country.”
Unfortunately, even companies with the best intentions ship faulty products with unintended consequences, even software. Remember the 2024 CrowdStrike bluescreen-of-death fiasco that grounded thousands of flights and caused other havoc for businesses? Then there are companies accused of deliberately acting with less-than-good intentions. Meta just paid $18 billion to settle a lawsuit over social media harms to children.
And AI has already caused harm, too, whatever the intentions or safety testing involved, from an OpenAI model hacking into Hugging Face to lawsuits against the AI lab over the suicides of young people who engaged in long conversations with its chatbot.
The “leave them alone” strategy, which would let these companies release products as they see fit, could be an unwise approach to AI safety as far as society is concerned. Though Huang is right that it’s possible existing product liability laws could cover AI — if AI doesn’t somehow kill us all before enough cases get through the courts to test that theory.
He didn’t discuss the other route, which seems close to taking shape: industry self-regulation. Huang’s approach has been more to champion open-weight models and companies’ use of them as a competitive counterweight to proprietary AI labs.
But right now, the industry has a short window to institute self-regulation and to encourage AI labs worldwide, even those in China, to see the wisdom in participating. As Microsoft CEO Satya Nadella said at the All-In Summit on Monday, “China should also deeply care about the same safety concerns if the United States cares about them, right? Why should it be different for them? It’s not like they won’t have the same hacking problem. It’s not as if they don’t want to make sure that their citizens are benefiting from AI, just like we would want our citizens to benefit from AI.”
For now, though, if Huang is a no on any new AI regulation, he may be influential enough to get his way. He also demonstrated this week that he, quite literally, has the ear of President Trump.
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Nigerian football administrator Samson Adamu has reportedly been confirmed as the substantive General Secretary of the Confederation of African Football (CAF), marking a historic breakthrough for Nigeria in the leadership of African football, Sports247.ng reports.
The development, reported on Thursday, October 29, 2026, would make Adamu the first Nigerian to secure the permanent position of CAF General Secretary since the continental football governing body was established in 1957.
Adamu’s reported confirmation comes seven months after he was appointed Acting General Secretary on March 29, following the resignation of Swiss-Congolese administrator Véron Mosengo-Omba, who had occupied the position since 2021.
The Nigerian football administrator initially joined the Cairo-based organisation as Director of Competitions in 2018, overseeing major continental tournaments before rising to become Director of Tournaments and Events.
His extensive involvement in competition management, tournament planning and football administration established him as a prominent figure within CAF’s operational structure.
Adamu’s emergence represents another significant milestone in his administrative career, placing him at the centre of decision-making and the implementation of policies governing African football.
As General Secretary, he is responsible for overseeing CAF’s daily operations, coordinating its administrative activities and ensuring the implementation of decisions taken by the organisation’s leadership.
His responsibilities also involve supporting the administration of continental competitions, including the Africa Cup of Nations, Women’s Africa Cup of Nations and CAF interclub tournaments.
Before joining CAF, Adamu made significant contributions to Nigerian football development through the establishment of COPA Lagos, an international beach soccer tournament that attracted teams from different parts of the world.
A graduate of the prestigious FIFA Master programme, Adamu has built a professional career combining sports management, competition organisation and international football administration.
His reported elevation comes at a crucial period when CAF is seeking to strengthen its governance structures, expand commercial opportunities and improve the organisation of competitions across its 54 member associations.
While reports indicate that Adamu has secured the permanent appointment, CAF’s official website still listed him as Acting General Secretary at the time of publication, with formal confirmation from the continental body awaited.
President Bola Tinubu has pledged to implement a long-delayed minimum pension guarantee and expand healthcare support for retirees, saying his administration is determined to ensure that Nigerians who served the country are not abandoned after retirement.
Mr Tinubu made the commitment on Thursday at the National Pension Conference and Awards, held at Transcorp Hilton, Abuja, as part of the maiden National Pension Week 2026.
Represented by the Secretary to the Government of the Federation, George Akume, the president said pension security was a national obligation and that his administration was determined to improve the welfare of retirees.
“A pension is not a favour granted by Government. It is a wage earned, deferred and held in trust. It is a promise. And this Administration has resolved that the promise will be kept,” he said.
He said his administration was working to address outstanding pension obligations and improve retirees’ welfare through measures intended to strengthen the Contributory Pension Scheme.
The measures include implementing the Minimum Pension Guarantee under the Pension Reform Act 2014 and expanding PenCare, a healthcare support programme for eligible retirees.
“Since enactment, that promise has never been honoured. Under President Tinubu, it will be,” Mr Akume said, conveying the president’s commitment to implementing the minimum guarantee.
The president also reiterated his administration’s commitment to the N758 billion Federal Government Pension Bond, which was approved to settle outstanding accrued pension rights and strengthen the Pension Protection Fund.
“That was not an accounting exercise. It was an act of restitution to Nigerians who served their country and were made to wait for what they had earned,” Mr Akume said on behalf of the president.
The president said pension security should be treated as a government responsibility rather than a discretionary benefit for retired workers.
“Above all, no Nigerian who has served this nation will be forgotten in retirement. Nigeria will keep faith with those who kept faith with Nigeria.”
Minimum pension guarantee, healthcare support
The proposed Minimum Pension Guarantee is intended to provide a safety net for eligible retirees under the Contributory Pension Scheme whose retirement income is inadequate.
Although the Pension Reform Act 2014 provides for the guarantee, the minimum amount payable and the detailed implementation arrangements will depend on the relevant guidelines from the National Pension Commission (PenCom).
The president also highlighted PenCare, a healthcare support programme intended to improve access to essential medical services for low-income retirees.
The initiative is designed to extend retirement support beyond pension payments by helping eligible beneficiaries access healthcare services.
PenCom has begun rolling out PenCare, with an initial phase targeting 30,000 retirees. The programme is funded jointly by the commission and participating pension fund operators.
According to the president, the initiative reflected a broader approach to retirement welfare, judging the pension system not only by the savings contributors accumulate but also by the security and dignity those savings provide in retirement.
He urged relevant institutions to ensure that the measures produced tangible improvements in pensioners’ lives.
Pension assets rise, but concerns persist
The Director-General of PenCom, Omolola Oloworaran, said Nigeria’s pension assets rose from N20.79 trillion in July 2024 to N31.8 trillion in August 2026.
The N11.01 trillion increase represents about a 53 per cent growth over the period.
However, she said the expansion of pension assets had not translated into adequate retirement income for many contributors, particularly private-sector workers.
“Almost 70 per cent of private sector employees earn below the national minimum wage in retirement. More than 55 per cent of all retirees whose pensions fall below the minimum wage come from the private sector,” she said.
Ms Oloworaran attributed the problem partly to employers calculating pension contributions on limited portions of workers’ earnings rather than their full remuneration.
She said the statutory combined pension contribution of 18 per cent comprises 10 per cent from employers and eight per cent from employees, warning that inadequate pensionable earnings could weaken retirement benefits.
“Our private sector workers are retiring into poverty. This must change,” she said.
The PenCom chief urged private employers to contribute to the Pension Protection Fund alongside the Federal Government and pension industry operators.
She also challenged pension fund administrators to generate returns that exceed inflation, which continues to erode the purchasing power of retirement savings.
“Beating inflation is not an aspiration. It is your job,” she said.
Ms Oloworaran disclosed that the commission had secured commitments from pension industry operators to establish three million additional funded, active Retirement Savings Accounts within the next year. The target is intended to extend coverage to workers currently excluded from formal pension arrangements.
She also announced that President Tinubu would launch the Pension Security Initiative on 10 November, incorporating PenCare and the minimum pension guarantee.
The commission further directed pension fund administrators and custodians to complete their recapitalisation by 30 June 2027.
“Every pension fund administrator and custodian must complete recapitalisation by 30th June 2027. We are not changing our minds,” she said.
Highlighting recent improvements, Ms Oloworaran said some federal retirees had received pension increases ranging from 67 to 120 per cent, while certain Nigeria Social Insurance Trust Fund pensioners recorded increases exceeding 1,000 per cent.
She added that retired professors could now receive pensions equivalent to their final salaries, while some retirement benefits were being processed within 48 hours.
The commission also announced an exit benefit scheme for retirees from treasury-funded federal ministries, departments and agencies, with symbolic cheques presented at the event.
Tinubu warns against risky investments
President Tinubu warned pension fund administrators and custodians against exposing workers’ retirement savings to reckless investments, insisting that the pursuit of higher returns or national development must not compromise contributors’ financial security.
He said pension assets must be managed with transparency, accountability and strict risk-management standards.
Although pension savings could support infrastructure development and economic growth, he said investment decisions must prioritise the interests of the workers whose contributions make up the funds.
“National development must never come at the expense of pensioners. Every investment must stand on its own merits, pass rigorous tests of risk and return, and serve the best interests of contributors,” he said.
The president warned that inflation was weakening the purchasing power of retirement savings, making it necessary for pension operators to deliver sustainable returns without compromising capital preservation.
“Preservation without growth is a slow erosion. Retirement savings that fail to keep pace with inflation quietly betray the very people who saved them,” he said.
He urged pension fund administrators and custodians to strengthen their investment expertise, diversify portfolios responsibly, reduce operating costs and improve accountability.
According to him, the pension industry’s performance should be measured by the financial security it delivers to retirees rather than the volume of assets under management.
The president also called on PenCom to enforce pension regulations firmly and fairly, while urging public and private-sector employers to remit pension contributions fully and promptly.
He described the deduction of workers’ pension contributions without transferring the money to their Retirement Savings Accounts as a breach of trust.
The president further called on state governments, organised labour and other stakeholders to expand pension coverage, including among traders, artisans, farmers, transport operators and other self-employed Nigerians.
He said the government would promote the Personal Pension Plan and new distribution channels to make retirement savings more accessible to people outside conventional salaried employment.
“Pensions for All must mean exactly that: all,” he said.
He urged stakeholders to ensure the summit produced measurable commitments, including increased enrolment, faster benefit payments, improved investment performance and clearer disclosure of pension fund activities.
National Assembly reviews pension laws
Meanwhile, the Chairman of the House of Representatives Committee on Pensions, Jallo Mohammed, said the National Assembly was reviewing the Pension Reform Act 2014 and other pension-related legislation.
He said proposed amendments, including legislation concerning intelligence and military pensions, were progressing through legislative consideration ahead of public hearings.
Mr Mohammed also disclosed ongoing engagement with NNPC Pension Fund Limited over compliance with PenCom directives following years of regulatory concerns.
He pledged continued legislative oversight to improve pension administration, strengthen regulatory compliance and protect contributors’ retirement savings.
“Our shared objective must be to build a pension industry that not only protects the savings of today’s workers, but also guarantees greater financial security and dignity for future generations of retirees,” he said.
Background
Nigeria’s Contributory Pension Scheme was established under the Pension Reform Act 2004 and subsequently governed by the Pension Reform Act 2014. The framework requires employers and employees in covered employment to contribute towards retirement savings, with pension fund operators managing the accumulated funds under regulatory oversight.
The scheme was introduced to address weaknesses associated with previous pension arrangements, including delays in benefit payments and the accumulation of unfunded liabilities.
However, some retirees have continued to face inadequate pension payments, delays in receiving accrued rights and difficulties meeting healthcare costs after leaving employment.
In October, PenCom announced that the Federal Government’s pension intervention had been used to clear inherited accrued pension liabilities dating back to 2007, with the commission reporting that 957,045 beneficiaries had been covered.
The commission has also identified the Minimum Pension Guarantee and PenCare as measures intended to improve the financial security and welfare of retirees.
President Tinubu said the success of the reforms should ultimately be measured by their effect on pensioners’ lives.
“The true measure of our success will not be how much money the system holds. It will be how much security, and how much dignity, it delivers,” he said.
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