Wale Odutola becomes new president of Penop

The Pension Fund Operators Association (Penop) of Nigeria has elected Wale Odutola as its new president.
This was confirmed at its recent bi-annual meeting, where he was elected with other Executive Committee of the Association.

Wale Odutola, who is the managing director/ceo of ARM Pension Limited will lead the Association for the next two years, taking over from Ronke Adedeji, the erstwhile president, and CEO of Leadway Pensure Limited.

Wale was previously the Association’s Head of Media and Branding prior to this election.

Accepting the new office, Wale thanked Ronke for her strong and visionary leadership over the last two years and pledged to continue the work that she and the previous Executive Committee had begun.

He further stressed that the focus of the industry under his tenure would continue to be on ensuring wider coverage of the scheme, promoting ethics within the industry, ensuring that the pension industry contributes to national development, greater engagement with the government and regulators and general up-skilling of pension operators.

Wale thanked his colleagues for reposing their confidence in him to direct the affairs of the Association at this critical time in the industry’s history.

Other members of the newly elected Executive Committee are Akeeb Akinola, CEO of Shell Closed Pension Fund Administrator who was re-elected as the vice president of the Association; Bayo Yusuf, CEO of UBA Pension Custodian Limited who retains his position as the Treasurer of the Association; Eric Fajemisin, CEO of Stanbic IBTC Pension Managers Limited was elected as the head of the Technical Committee of the Association; Amaka Andy – Azike, CEO of Fidelity Pension Managers Limited, as the head of Media and Branding Communications for the Association; and Glory Etadouvie , CEO of IEI Anchor Pension Managers Limited steps in as the head of Legal,

Regulatory and Ethics Committee for the Association.

The CEO of the Association, Oguche Agudah, in a statement said that the smooth election is a testament to the sound corporate governance practices of the Association and the cohesion that has been built within the pension community over the recent years.

He also said “The new Executive Committee is set to significantly improve the lot of the pension operators, the pension contributors and the economy as a whole. While there are tough times caused by the Covid pandemic, we are poised to contribute our own fair share towards surmounting the current challenges and move the industry and National Economy to greater heights”.

The Pension Fund Operators Association of Nigeria (Penop) is an independent body, established 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. Penop Currently has 32 Members, which includes all the 22 Pension Fund Administrators (PFAS), 6 Closed Pension Fund Administrators (CPFAS) and 4 Pension Fund Custodians (PFCS).