The maiden edition of micro pension open day was hosted by the Pension Fund Operators Association of Nigeria (PenOp) on Friday, 9th June 2023.
An independent, non-governmental body, PenOp aims at promoting the operations of the pension industry in Nigeria by observing international best practice.
PenOp CEO, Oguche Agudah, emphasized the importance of an accessible micro pension structure for the informal sector including self- employed individuals, small business owners, market traders, carpenters, drivers and so on.
Mr. Agudah equally stressed the need for modification of existing structures and less bureaucratic processes to attract and retain micro pensioners.
The first panel session tagged, ‘Leveraging Technology and Mobile Network Operator Partnership to drive Micro Pension Participation’ featured key players in the micro pension space including Chioma Nwaiwu, research officer at EFInA, Enhancing Financial Innovation and Access, Mayowa Owolabi, CEO Uniswitch, Fredrick Kio, Head of Product Management, NIBSS, Obed Esejowho of MTN Nigeria and Guruman Iwundu, Head, Customer Communications, Airtel Nigeria.
The second panel session explored, ‘Using Agent and Partnership Networks to Drive Micro Pension’.
This panel included Dumebi Obodo, Director, Pension Central & MD of Chams Access, Uche Ben- Uzoebo, SANEF Chief Distribution and Stakeholder Engagement Officer, Stephen Olusa of First Bank Nigeria and John Okhueleigbe, Head Micro Pension Unit, Stanbic IBTC Pension.
During his red carpet interview with Arise News, Dumebi Obodo of Chams Access said despite the country achieving 65% in financial inclusion, micro pension could be used as an avenue to include even more people in the formal financial system.
Pension Central is a flagship product of Chams Access; the software helps employers submit pension schedules and make pension payments conveniently without the usual hassles of pension remittance.
The well- attended event took place at Oriental Hotel, Lekki- Epe Expressway, and attracted critical stakeholders in the fledgling micro pension industry.
