The National Pension Commission (PenCom) has hosted a delegation from Kenya’s Retirement Benefits Authority (RBA) on a four-day technical study visit to Abuja, underscoring Nigeria’s growing reputation as a model for pension reform and regulatory innovation in Africa.
The four-member Kenyan team, led by RBA Director of Market Conduct and Industry Development, John Keah, is in Nigeria from June 8 to 11, 2026, to examine PenCom’s regulatory and supervisory frameworks and explore lessons that could support ongoing pension reforms in Kenya.
Speaking at the opening session in Abuja, Keah said the visit highlights the importance of cross-border collaboration among pension regulators seeking to strengthen retirement systems and improve outcomes for contributors.
According to him, similarities between the pension sectors of both countries make Nigeria’s experience particularly relevant.
“We are here to learn from Nigeria’s experiences and assess how some of those lessons can be adapted to our own environment. We are particularly interested in PenCom’s ESG initiatives, risk-based supervision framework, strategies for expanding pension coverage to the informal sector, and the Diaspora Pension Arrangement,” he said.
Keah praised the governance safeguards embedded in Nigeria’s pension architecture and described the Diaspora Pension Arrangement as an innovative initiative capable of enhancing retirement security while helping to reduce old-age poverty.
Receiving the delegation, PenCom Director-General, Ms. Omolola Oloworaran, reaffirmed Nigeria’s commitment to knowledge sharing and regional cooperation aimed at strengthening pension systems across the continent.
Represented by the Director of Surveillance, Abdulrahaman Muhammad Saleem, Oloworaran highlighted the remarkable growth recorded under Nigeria’s Contributory Pension Scheme (CPS) since its introduction in 2004.
She disclosed that pension assets under management have surpassed ₦32 trillion, representing about 10.4 per cent of Nigeria’s Gross Domestic Product (GDP). According to her, the sustained growth reflects the success of reforms implemented over the past two decades.
The PenCom boss attributed the sector’s expansion to continuous regulatory improvements, stronger governance standards, and enhanced supervisory mechanisms designed to safeguard contributors’ funds and improve retirement outcomes.
She also described the Federal Government’s recent settlement of outstanding accrued pension rights liabilities as one of the most significant milestones in the history of the CPS.
The intervention resolved a longstanding challenge that had delayed pension payments to many retirees from Treasury-funded Ministries, Departments and Agencies (MDAs) due to funding gaps and late budget releases.
“The issuance of a Federal Government bond to settle accrued rights liabilities has transformed the retirement experience for public sector employees. Accrued pension rights are now transferred directly into retirees’ Retirement Savings Accounts (RSAs), enabling immediate access to investment returns and eliminating lengthy waiting periods,” she said.
While noting the progress achieved so far, Oloworaran stressed that PenCom remains focused on deepening reforms that will strengthen governance, enhance retirement security, and ensure the long-term sustainability of the CPS.
The study visit, themed “Risk-Based Supervision and ESG Integration in Pension Funds,” includes presentations and interactive sessions led by various PenCom departments. The programme also features visits to selected Pension Fund Administrators (PFAs) and a feedback session on lessons learned, emerging risks, and future areas of collaboration.
The engagement is expected to deepen regulatory cooperation between Nigeria and Kenya while promoting the exchange of best practices that support the development of more resilient, inclusive, and sustainable pension systems across Africa
