The National Pension Commission (PenCom) has inaugurated an Advisory Committee for a non interest Pension Fund.
The five-member body, known as Pension Industry Non-Interest Advisory Committee )PINAC), was created to ensure a smooth takeoff of a zero-interest Pension Fund in line with Islamic Jurisprudence.
Omolola Oloworaran, the Director-General, National Pension Commission, who spoke at the inauguration of the committee in Abuja, explained that it was set up in line with the mandate of the Commission to cater for the need of all Nigerians, irrespective of their Faith or Tribes.
She urged the Committee to ensure Financial inclusion for targeted Beneficiaries and transparency, as well as evaluation of the concept in line with world best practices.
Mrs Oloworaran said the objective of the committee was also to ensure that PenCom built on existing Collaboration and team spirit for an all-inclusive system for all the citizenry.
“Ensure Collaboration , and the spirit of Excellence and I hope the initiative would bring more successes to the nation’s Pension Sector”. She said.
Prof Adam Abubakar, the Chairman of the Pension Industry Non- Interest Advisory Committee, expressed the committee’s readiness to justify the confidence repose in them for effective compliance of Sharia system in Financial Institutions.
Dr Abubakar said to achieve rapid growth in the Pension Industry and the nation at large, it was pertinent for Nigerians to embrace the no-interest Pension Fund.
Sani Muhammad, Legal Adviser and Secretary of the Commission, called on other stakeholders to support the committee to achieve it’s set goals.
The event was attended by various stakeholders in the Pension sector across the country.
RN
