PenCom DG Omolola Oloworaran resigned, not sacked by First Bank

Contrary to reports circulating on some online news platforms, Omolola Oloworaran, the newly appointed acting director-general of the National Pension Commission (PenCom), was not sacked by her former employer, First Bank of Nigeria. Findings have revealed that this is fake news.

Some news blogs had inaccurately reported that Ms. Oloworaran was dismissed from her position at First Bank. However, The Guardian has gathered from reliable sources that the new PenCom boss resigned from the bank on 1st July 2024 to take up her new appointment.

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“It’s fake news. Omolola was not sacked by First Bank. As expected, she voluntarily resigned to take up her new assignment,” a source confirmed.

Oloworaran was appointed PenCom DG by President Bola Tinubu on 13th July. With over 20 years of experience in the financial industry, Oloworaran’s extensive background and accomplishments position her well for this pivotal role.

Her appointment comes at a crucial time for Nigeria’s pension sector. Her comprehensive background and proven track record in financial management are expected to bring substantial advancements to PenCom. She is anticipated to drive robust management and growth of Nigeria’s pension funds, ensuring the commission’s objectives align with the nation’s broader financial goals.

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Oloworaran’s leadership is expected to usher in a new era of efficiency and innovation at PenCom, building on the foundations laid by her predecessor. As she steps into her new role, the financial community and pensioners alike look forward to the positive impact of her expertise and leadership on the commission’s operations and Nigeria’s pension landscape at large.

Her career is a testament to her capabilities and leadership qualities, making her a fitting choice for this high-profile appointment. Oloworaran’s journey in the financial sector is marked by significant roles at leading financial institutions, reflecting her expertise and leadership acumen.

Prior to her PenCom appointment, she was a key figure at FirstBank Nigeria, serving as the Head of Transaction Banking Operations since June 2019. Before joining FirstBank, Oloworaran made notable contributions at Stanbic IBTC. From January 2016 to June 2019, she led the International Business Center, where she managed international banking operations and cultivated global business relationships. Her role as Head of Global Market Operations from November 2013 to January 2016 further demonstrated her capability in managing complex financial systems and operations.

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Oloworaran’s professional journey is distinguished by her versatility and experience across various financial domains. At FDHL Group, she served as a Consultant from May 2013 to November 2013, offering strategic insights and solutions. Her earlier career includes a significant tenure at Renaissance Capital, where she served in various capacities, including Finance Manager and Senior Specialist, from March 2008 to April 2013.

Her foundational years in the financial sector were shaped by her role at Citigroup, where she was involved in Treasury Operations from June 2004 to March 2008. This experience laid a solid groundwork for her subsequent roles, equipping her with a robust understanding of financial operations and management.