Ensuring international best practices in the pension industry are observed by the operators in Nigeria.

The Pension Fund Operators Association of Nigeria (PenOp) is the trade association and umbrella body of all licensed pension funds in Nigeria. It is an impact focused organization and a market building enterprise that was established to promote the operations of the pension industry in Nigeria, provide for self-regulation, and ensure that international best practices relating to the industry are observed by the operators registered in Nigeria. It engages with various stakeholders to ensure that the pension industry has a positive impact on the operators, the contributors and the economy as a whole.

Our Numbers from inception to May, 2024
10,280,956
CPS Contributors
₦ 1.99 Trillion
Lump Sum
720,044
Retirees
219.8 Million
Nigeria's Population
₦ 19.67 Trillion
Current AUM
36,742
Compliance Certificates

Vision

To promote the operations of the pension industry, provide for self-regulation and ensure that international best practices relating to the industry are observed by the operators registered in Nigeria

Mission

To be the central party that coordinates and harmonizes activities of the pension operators and pension industry in general to ensure that pensions has a positive effect on all stakeholders and the economy in general.

Our Values
(RIKIEE)

Respect
We respect everyone we come in contact with. We believe that everyone’s voice, opinion, and individuality counts, so we look for the best in everyone and every situation.
Icon Impact focused
Impact Focused
We understand our role as catalysts for economic and social development through our direct and indirect activities and we take this role very seriously.
Knowledge-Driven
We are driven by the need to acquire knowledge to enable us to carry out our functions effectively and convey the same to those we come in contact with.
Icon Innovative
Innovative
We are always looking for better, faster, and simpler ways to deliver on our objectives and we believe that there is always a better and more creative way to get things done.
Icon Excellent
Excellent
We strive for world-class standards and outcomes in everything we do, we ensure that we deliver today better than we did yesterday. We believe in constant improvement.
Entrepreneurial
We are resilient, efficient, and expansive in our thinking and approach to issues. We never give up and we consider the bottom line in everything we do.

The Executive Body

Meet our esteemed present executives​
Umar Mairami
President
Umar Mairami
President

Umar Sanda Mairami, HCIB, a 1985 B. Sc. Building graduate of Ahmadu Bello University, Zaria commenced his working career with Habib Nigeria Bank Limited as a Trainee Officer at the Yola branch of the bank on June 1, 1990. Since then, he has ventured into several aspects of banking covering Operations, Business Development & Marketing, Credit Management & Recovery, and Branch Management as well as Branch Operations Coordination at the Head Office.

He joined Intercity Bank Plc in 1999 as Executive Assistant to the Managing Director and doubled as head of Corporate Planning and head of Corporate Promotions departments. He was subsequently redeployed to oversee the Credit Administration Department of the Bank. In recognition of his versatility, Intercity Bank Plc redeployed him to the Training Department as head to enhance the skills of the workforce. Mr. Mairami eventually ended his career at Intercity Bank Plc as Deputy General Manager – Group Head, Corporate Services with supervision spanning over Human Resources, Administration, Financial Control and Information Technology departments. The banking reforms of 2004 resulted in Intercity Bank Plc fusing with eight (8) other banks to form Unity Bank Plc where Umar was appointed as its pioneer Head, Human Capital Management Department. After successfully integrating the human resources of the bank, he was redeployed to the Assets Remediation Department to manage hardcore loans and advances. He ended his five-year career at Unity Bank Plc as Divisional Head, Operations after serving in that capacity for two years.

Mr Mairami an Alumnus of Wharton School of the University of Pennsylvania United States, also obtained a Masters in Business Administration (MBA) from Ahmadu Bello University, Zaria and he is a member of Chartered Institute of Bankers.

He joined the pension industry on September 19, 2011, when he assumed duty as Executive Director at Legacy Pension Managers Limited. He has during his six-year service at Legacy Pension Managers Limited held the positions of Executive Director, Operations & Services as well as Executive Director, Business Development & Investments. These two positions afforded him the opportunity of direct supervision of both the market-facing and support departments. He also acted as Managing Director during the absence of the substantive Chief Executive Officer.

Joy Ojakovo
Vice President
Joy Ojakovo
Vice President

Mrs Joy Ojakovo is a highly skilled professional with a wide experience in Management, logistics, warehousing and distribution, product design, business process optimisation. Interested in the evolution of online shopping (eCommerce) business. Excited about new possibilities and possibilities, like to think outside the box. Motivated by challenges - as well as by inspiring others.

Godson Ukpevo
Head of Legal Committee
Godson Ukpevo
Head of Legal Committee

Godson Ukpevo holds a Masters’ degree in Banking and Finance from the University of Lagos, an MBA from the Enugu State University of Technology and a Bachelors’ degree in Sociology and Anthropology from the University of Benin.

He has worked in senior and executive management positions in various organizations across different sectors. These include Ecobank Nigeria Limited, First City Monument Bank, former Citizens International Bank and Clay Grounds Agro. Allied Company.

He has also played strategic roles in the reforms in the Nigerian Pension Industry in particular, the old Defined Benefit Scheme of the Federal Government as the pioneer Director and Head of the Civil Service Pension Department of the Pension Transitional Arrangement Directorate, PTAD

He has attended several trainings in financial management, sales and marketing, credit risk application and change management organized by top institutions like Citigroup Inc., INSEAD Business School, FitchLearning, Arthur Anderson & Co in New York, Fontainebleau, London and Lagos.

Donald Onuoha
Head of Media Committee
Donald Onuoha
Head of Media Committee

Donald Onuoha is a graduate of Chemical Engineering from the Institute of Management and Technology, Enugu. He holds a master’s degree in Business Administration from the University of Uyo. Donald has attended several courses in renowned business schools across the globe. He holds a certificate in financial planning from Florida State University, United States. He attended the AMP Global Module at IESE Business School Barcelona and Advanced Management Program (AMP 39) of the prestigious Lagos Business School in 2023. Donald is a Certified Wealth Management Professional (CWMP), a member of Chartered Institute of Directors of Nigeria (IOD) and member Ikoyi Club 1938.

Donald started his career with Dubcom Limited as business development manager in 2004. He has held strategic leadership positions in ARM Pension Managers and Pensions Alliance Limited between 2006 and 2018. He joined Fidelity Pension Managers in 2018 as Head of Business Development. He was appointed Executive Director in 2021 and Managing Director and CEO in February 2022.

Peters Eledu
Treasurer
Peters Eledu
Treasurer

Mr. Peters Eledu, Managing director of Zenith Pensions Custodian Limited, is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a Fellow of the Chartered Institute of Stockbrokers (CIS), Chartered Institute of Taxation of Nigeria (CITN), as well as Honourary Senior member Chartered Institute of Bankers of Nigeria (CIBN). He is also a member of the Chartered Institute for Securities and Investment, (CISI) London and an alumnus of the Said Business School, University of Oxford.

He holds a B.Sc degree in Economics and M.Sc in Economics, both from the University of Lagos, Akoka. Mr Eledu is on-boarded with over thirty-six (36) years cognate experience majorly in the Financial service industry in different roles and functions.

He started his career with Hoesch Pipe Mills (Nigeria) Ltd as an account officer and later moved to other reputable organisations like Central Bank of Nigeria as an Assistant Economist. Subsequently he has worked in various Banks and financial institutions such as Societe Bancaire Nigeria Limited (Merchant Bankers), Manny Bank Plc, Gateway Bank Plc, Continental Trust Bank/Standard Trust Bank Group, and the Institutional Investors Nigeria Limited Group in various units such as internal control & audit, strategic planning, Portfolio management, Credit appraisal & analysis, business development and Branch Management..

He started his career in Zenith bank in Internal Control & audit unit where he displayed unparalleled leadership in formulation of polices, audit, inspection and control functions and thereafter as Group and Zonal Heads in various branches and zones of the Bank such as Isolo, Apapa, Apapa 2 Zone (Trinity) and Marina Zone. He is versed in human, financial and material resource management as well as endowed with broad knowledge of executive management.

Oguche Agudah
CEO
Oguche Agudah
CEO

Oguche is currently the Chief Executive Officer (CEO) of the Pension Fund Operators Association of Nigeria (PenOp). In this role he leads the efforts of Nigeria’s pension industry in engaging regulators, the government, the media, financial markets and other stakeholders in order to ensure that the interests of the pension operators are protected and promoted and also in ensuring that the pension industry has a positive effect on National Development.

Oguche was previously Nigeria’s Regional Director for OurCrowd, a crowd funding and venture capital firm with headquarters in Israel. He was also previously the Chief Investment Officer/Executive Director of a growing integrated real estate and alternative asset management company

Prior to this, he worked as a Special adviser to Nigeria’s Minister of Industry, Trade and Investment. His portfolio was “Access to Finance”.  In this role, he advised on and implemented policies, strategies and programmes that could help to increase access to finance for Nigeria’s teeming entrepreneurs.

Prior to this, he worked with Standard Chartered Bank as an associate Director in their Lagos office, where he was in charge of the credit quality of a portfolio of assets worth USD 7 billion dollars.  This included various loan products and derivatives to banks, the government and sovereign owned enterprises (SOEs) in Nigeria.   In Standard Chartered, he had short term assignments in South Africa and London, working in the Risk management, Credit and Corporate Finance functions. In Standard Chartered Bank he held various roles spanning operations, Risk management & Credit, financial institutions and strategy.

He possesses a degree in Banking and finance (University of Lagos) and is a fellow of the Chartered Institute of Bankers Nigeria and an associate of the Chartered Institute of Stockbrokers Nigeria.

He is an avid writer and he has a column in some local and international mediums where he writes and advices on strategy, finance, entrepreneurship and emerging markets.

He is deeply involved in community work, as he mentors a group of volunteers, focusing on building global businesses and leaders out of Nigeria

He is a firm believer in Nigeria, married to his best friend and they have two boisterous children

He has been privileged to experience life as an entrepreneur, a policy maker and an employee in a world class organization operating in an emerging market. These varied experiences have enabled him to appreciate life and business from different perspectives arming him with a unique blend of the excellence of the private sector and the social impact objective of the public sector.

People of PenOp

Oguche Agudah
Chief Executive Officer
Oguche Agudah
Oguche Agudah
Chief Executive Officer

Oguche Agudah (fondly called "Mr Oguche") is mostly described as someone with a very calm personality. Sometimes he is referred to as a professor and other times, Mr. Nigeria. What keeps him going is the opportunity to make Nigeria better in everyway that he can. Oguche's father is his greatest inspiration.

Oguche is a huge supporter of Manchester city and watching football is his hobby. If he were to have super powers, he would love to read minds and be able to shoot laser beams from his eyes. His favourite music genre is gospel and R&B. He honestly thought he would make it to the NBA when he was younger.

To start his day, he loves to meditate, think and pray. His favourite food is Pounded yam and Sea food Okro. His is an early riser and mornings are his favorite times of the day, although he is okay to work at anytime during the day. Most times the team is always like, "where does he get so much energy ???"

Oguche used to be a member of a music group in secondary school and he was the fastest guy in his class while he was in primary school but we do not know where all that speed has gone!

His best piece of advice was from his father: "The higher you go, the more humble you should be become" and his personal advice to his younger self and generation is "Don’t fret! Everything will work out well in the end"

Want to know more about Oguche?

Adaobi Okoye
Head, People and Training
Adaobi Okoye
Adaobi Okoye
Head, People and Training

Adaobi Okoye (fondly called "Ada") is an exceptional team member who strives to continuously improve herself. During her formative years, her aspiration was to become a Doctor, but as she matured, she became a highly sought-after manager in Human Resources and Training.

People who are closest to her would describe her as an intentional, caring, and friendly person. She hails from Anambra state and enjoys spending time watching movies and socializing with friends. Some interesting tidbits about Adaobi include her love for high-life music (specifically Cavemen), her fondness for pasta, and her enjoyment of boat cruises.

Her favorite time of day is during late hours, which is also when she prefers to work. She begins her day with a cup of coffee, allowing her to start off with a positive mindset. When it comes to food, her top choices are Pasta or Spaghetti, as well as Beans and Plantain.

To her younger self and the younger generation, she offers the advice to "always remain true to oneself, and to put in the necessary effort for everything they desire and require. She stresses on the importance of being intentional, consistently striving forward, being bold and courageous, and most importantly, never ceasing to learn"

Want to know more about Adaobi?

Chidi Solomon
Head, Finance & Compliance
Chidi Solomon
Chidi Solomon
Head, Finance & Compliance

Chidi Solomon (fondly called "Chidi", A.K.A. GFO). He is a chartered account par excellence and has so much interest in technology and how it can be used to impact the world around him.

He loves to start his day with prayers and he also loves to work in the early hours of the day so that he can relax very well in the later hours of the day. He loves to play chess and any other board game.

His favourite food is beans and plantain and he is so much of a team player.

Want to know more about Chidi?

Olajumoke Akinwa
Media, Branding & Communication Lead
Olajumoke Akinwa
Olajumoke Akinwa
Media, Branding & Communication Lead

Olajumoke Akinwa (A.K.A. Jumz). She is her own boss who is a also a great cook. She is inspired by excellence, and that comes out in everything she does, so you have to be smart to be around her.


She is from Ondo state with a degree in Mass communication and she loves pounded yam and egusi soup - you need to check out her vlog on this.

Her hobbies include cooking, watching movies & documentaries and creating content for the online space (Blogger extraordinaire). She wants to have superpowers where she can read the minds of people. She is a huge supporter of Manchester United.

The early mornings are her favourite time of the day. She says it is peaceful and a quiet and that time of the day cannot be bought.

Her advice to her younger self is "to not be afraid to dream, because there is no impossiblity".

Want to know more about Olajumoke?

Akinbola Akintola
Head, Research & Investor Relations
Akinbola Akintola
Akinbola Akintola
Head, Research & Investor Relations

Akinbola Akintola (fondly called "Akin") is a hard core Manchester United fan who loves to watch animation (anime). Members of the team love to refer to him as "Omo Ibadan", he is a true son of his fatherland. Akin is cool, calm and collected.

He loves Electronic dance music (EDM) and his favourite movie is Godfather part one. He can't seem to get over the opening scene of the movie, he says it is legendary.

He is the only member on the team that can take tea any day, any time. You barely find him posting his pictures on social media because he thinks that hackers will copy his details and use it against him one day.

But then, he is an "efiko" (A bookie). And he would always advice people "not to overly concern themselves with things outside their control".

Want to know more about Akin?

Eunice Akinboade
Human Resources Associate
Eunice Akinboade
Eunice Akinboade
Human Resources Associate

Eunice Akinboade (fondly called "Eunice") originally hails from Oyo state. She loves listening to music and loves watching animations. She bagged a degree in Accounting, a field she had always imagined to graduate from, right from childhood.

Eunice is a very empathetic soul. She is very emotional and loves to take tea preferrably in the morning before starting her daily duties. She can read a document or an email over a 100 times before sending just to make sure it is accurate.

She is an introvert who would love to be able to read the minds of people and her best food is noodles. If she could be in any movie, she would love to play a part where she gets to live happily ever after.

She loves to explore and discover new things. Her advice to her younger self is that "People's opinion of who you are does not determine what you will be".

Want to know more about Eunice?

Harrison Egbudu
Project Management Lead
Harrison Egbudu
Harrison Egbudu
Project Management Lead

Harrison Egbudu (fondly called "Harry") is an excellent team player and the go-to person in the office for work related matters and chills. He is a amazing dancer who loves to break dance, listen to gospel drills and songs that generally have drill beats. He is a huge fan of Liverpool footbal club

He bagged a degree in systems engineering and he loves to watch movies at his leisure time. He does not love animations but he can watch Avatar; the last airbender every year.

He is from Delta state and his close friends describe his a problem-solver, a cheerful giver and a very well collected person. If he were to have superpowers, he would want to have healing powers. HE loves pounded yam with garnished egusi soup and party jollof rice with chicken.

Till date, he is mostly inspired by his mom and his advice to the younger generation is to "stay true to themselves and never be afraid to fail as success is not final, failure is not fatal but it is the courage to continue that really matters".

Want to know more about Harry?

Aminah Fagbenro
Research and Investment Analyst
Aminah Fagbenro
Aminah Fagbenro
Research and Investment Analyst

originates from Ogun state and draws inspiration from the achievements and accomplishments of Ngozi Okonjo-Iweala. During her childhood, she aspired to become the Minister of Finance, Budget, and National Planning, or possibly even the Governor of the Central Bank of Nigeria. Aminah continues to hold onto these ambitious goals for her future.

Her closest friends often characterize Aminah as reserved, highly focused, and an attentive listener. In her leisure time, she enjoys watching animated films, listening to the radio or catching up on the latest news, hanging out with loved ones, and playing lawn tennis. The Golden State Warriors is her favorite basketball team, while Serena Williams is her preferred athlete to watch when it comes to tennis.

She doesn't have a single favorite food because she loves them all and believes that choosing one over the others might hurt their feelings. Her day always begins with a prayer, and her ultimate aspiration is to contribute towards making the world a safer and better place.

The most valuable advice that she has been given is "Rough seas will be calm, whatever difficulty you are going through as a person, it will go or heal with time, just hang on and enjoy the ride"

Want to know more about Aminah?

Chukwuemeka Umeaku
Project Management Associate
Chukwuemeka Umeaku
Chukwuemeka Umeaku
Project Management Associate

Chukwuemeka Umeaku (fondly called "James") is a fun person and of course supports Liverpool FC (YNWA).

He loves to perform his activities in the morning as he is an early riser. He prefers to take tea to start his day and never likes to be caught unfresh. His favourite food is Rice and beans.

He bagged a degree in Political science and has huge interest in politics. To start his day, he listens to devotional talks or reads devotional books and exercise. He loves to play volleyball and listen to gospel songs.

Growing up, he wanted to become a lawyer and if he had superpowers, he would love to be a time traveller. His advice to younger people is to "Prioritize their happiness as your happiness is dependent on you".

Want to know more about James?

Oluchi Ugwu
Intern
Oluchi Ugwu
Oluchi Ugwu
Intern

Oluchi Ugwu (fondly called "Precious") brings a whole lot of vibe to the team and she loves dancing.

She bagged a degree in Political science and Religion. Fun facts about her is that she loves fried foods like fried chicken, fish and plantain but can not eat them because of allergies. She is a huge supporter of Manchester United and she is her own personal life instructor.


She hails from Enugu state and she is a wonderful Fashion Designer. To start her day, she takes a cup of water, does a 30 minutes stretch routine while singing (as usual) to herself or listening to music. She can take tea and coffee anytime during the day. She loves to exercise, play games and hangout with people dearest to her.

Her best piece of advice is "Stay true and honest to yourself. Don't try to impress anyone because the unhappiest people are those who care the most about what others think".

Want to know more about Precious?

Oluwakayode Adegoke
Media, Branding & Communications Intern
Oluwakayode Adegoke
Oluwakayode Adegoke
Media, Branding & Communications Intern

Oluwakayode Adegoke (fondly called Kayode). Is an enthusiastic young man with an always ready to learn attitude, he hails from Osun state and hopes to be the governor someday.

He is passionate about global politics, He is a great lover of sports, especially football (he is a passionate Arsenal fan). He enjoys watching crime, action, mystery and historical TV series genre. and would love to have mindreading powers in his next life.

Kayode prefers Amala with gbegir and ewedu in the company of ogunfe meat and plenty orisirisi to all other food. His favorite time of the day is at night because of its peaceful and quite nature.

Kayode’s advice to his younger self is that “Don’t procrastinate, procrastinators almost always never get anything done”.

Past Presidents of PenOp

Olumide Oyetan
Olumide Oyetan
2022-2024
Odutola Wale
Odutola Wale
2020 - 2022
Ronke Adedeji
Ronke Adedeji
2018 - 2020
Eguarekhide Longe
Eguarekhide Longe
2016 - 2018
Misbahu Yola
Misbahu Yola
2014 - 2016
Dave Udanu
Dave Udanu
2012 - 2014
Funsho Doherty
Funsho Doherty
2010 - 2012