News
PenCom Inaugurates Committee to Drive Non-interest Pension Fund Development

The National Pension Commission (PenCom) has inaugurated the Pension Industry Non-Interest Advisory Committee (PINAC) to enhance the development of non-interest pension funds in Nigeria.

Speaking at the inauguration ceremony in Abuja, Omolola Oloworaran, Director-General of PenCom, emphasized the significance of this initiative in deepening financial inclusion and expanding ethical pension offerings within the industry.
According to Oloworaran, the establishment of the advisory committee reflects PenCom’s commitment to fostering innovation, inclusivity, and sustainability in pension administration.
She highlighted the increasing demand for non-interest financial products, driven by a growing awareness of ethical finance principles and the need for alternative investment avenues.
“The Rationale for the Non-Interest Advisory Committee IS CLEAR. In recent years, we have witnessed increasing demand for non-interest financial products, driven by a growing awareness of ethical finance principles and the need for alternative investment avenues.
“The introduction of Non-Interest Pension Funds (Fund VI) was a groundbreaking step in this direction, providing an investment option that is free from interest-based instruments while still ensuring competitive returns for contributors,” She stated
According to her, the development of this segment requires structured guidance, expert insights, and collaborative strategies to navigate regulatory, operational, and market challenges. “This is precisely why we have established this Advisory Committee to serve as a think tank, providing recommendations on best practices, governance structures, product development, and compliance with non-interest finance principles,” Oloworaran added
The newly inaugurated committee has been tasked with key responsibilities, including Ensuring transparency, security, and alignment of non-interest pension products with global best practices.
Market development and awareness, promoting financial literacy and increasing public education on the benefits of non-interest pension funds.
Investment strategy and innovation, identifying and recommending viable non-interest investment opportunities to ensure sustainable growth and competitive returns.
Collaboration and stakeholder engagement, building partnerships with financial institutions, industry experts, and regulatory bodies to create a robust non-interest pension ecosystem.
Oloworaran noted that the successful implementation of non-interest pension products would help attract a significant portion of the unserved and underserved population into the pension system and this aligns with the government’s broader agenda for financial sector deepening, economic diversification, and social security enhancement.
“By embracing non-interest financial principles, we are positioning Nigeria as a leader in ethical pension fund management, fostering investor confidence, and promoting sustainable economic growth,” she stated.
The PenCom DG urged members of the advisory committee to approach their mandate with dedication, foresight, and an unwavering commitment to excellence. She assured them of PenCom’s full support in ensuring the success of the initiative.
“Your collective expertise and insights will shape the future of non-interest pension funds in Nigeria, ensuring that we build a system that is not only inclusive but also resilient and globally competitive.
“PenCom stands ready to provide all necessary support to ensure the success of this initiative. We are confident that through your efforts, the pension industry will experience a new era of innovation and inclusivity.”
Also speaking at the inauguration ceremony, Muhammad Muazu Lere, Chairman of PINAC, applauded the National Pension Commission (PenCom) for entrusting the committee with this responsibility. He emphasized the critical role of Shari’ah governance in ensuring compliance, building trust, and enhancing the credibility of Islamic financial institutions.
“The importance of a Shari’ah compliance monitoring system cannot be overstated. It is essential for maintaining the integrity and effectiveness of Islamic financial institutions. Our role as PINAC members is not just a duty; it is a commitment to positively impacting the ethical fund space and upholding global best practices,” Lere stated
Lere highlighted PINAC’s intention to collaborate with key regulatory agencies, including the Financial Regulation Advisory Council of Experts (FRACE) of the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and the Takaful Advisory Council (TAC) of the National Insurance Commission (NAICOM). This cooperation, he noted, would ensure that the committee’s activities align with international standards.
Despite the operational existence of Fund VI for several years, Lere pointed out that one of the major challenges facing its growth is low awareness among Retirement Savings Account (RSA) holders. He called on the Commission to intensify public education efforts about Fund VI, similar to the awareness campaigns conducted for the Micro Pension Plan.
“The lack of awareness has hindered Fund VI’s growth. It is crucial to conduct public enlightenment initiatives to educate Nigerians on its benefits and operations,” he urged.
News
Firms Face Gaps Between AI Ambition and Execution

Artificial intelligence (AI) will this year become a central pillar of leadership strategy, shaping how organisations plan to grow, compete and reinvent their operating models.

However, the gap between ambition and execution will remain one of the defining challenges of 2026.
This is one of the key findings of Accenture’s latest Pulse of Change report, which shows that global executives’ intent around AI is strong and accelerating.
The study is grounded in a global survey of 8 000 executives and employees, and is designed to measure AI adoption, strategy and workforce impact across industries and regions.
According to the report, across industries, leaders are no longer asking whether AI should be adopted. Instead, they are focused on how AI can be scaled to deliver measurable enterprise value, transform decision-making and unlock new revenue streams.
A total of 86% of surveyed C-suite executives plan to increase their AI investments in 2026, signalling that AI has moved from experimentation to a board-level growth priority, it notes.
Shifting AI priorities
One of the most notable changes highlighted in the report is how executives now view the purpose of AI.
“While early adoption focused heavily on automation and cost reduction, company leaders are increasingly positioning AI as a driver of growth,” it states.
“Nearly eight in 10 surveyed executives believe AI will contribute more to revenue generation than cost savings in the year ahead, reflecting a strategic pivot toward AI-enabled products, services and customer experiences.”
According to the study, daily AI usage among senior leaders has risen sharply, with 38% of surveyed executives now using AI tools every day, compared to 8% at the start of 2024. This signals that AI is no longer delegated solely to technology teams; it is becoming embedded in executive workflows, strategic planning and decision-making processes.
While leadership engagement with AI is deepening, the report suggests that enthusiasm at the top does not automatically translate into impact across the organisation.
Scaling AI remains elusive
Despite growing investment and executive confidence, only 32% of respondents report achieving sustained, enterprise-wide impact from AI. Most companies remain stuck in isolated use cases or pilot programmes that fail to scale meaningfully across business units, the report notes.
“Executives largely believe they have articulated a clear vision for AI-driven change, but employee perceptions tell a different story. Just 18% of workers strongly agree that leadership has communicated a compelling AI vision, and only one in five say they understand how AI will affect their role in the future.
“This disconnect suggests that while executives are planning ambitious AI transformations, those plans are not always translating into clarity or confidence on the ground.”
The result is a growing execution gap: leaders are moving faster in strategy than organisations are moving in practice.
Human-AI collaboration
Despite these challenges, the report reveals a strong foundation for progress. Employees largely recognise the benefits of AI, with 79% stating that AI has positively influenced their ability to learn new skills.
Many also associate AI with increased innovation and problem-solving capacity, indicating that resistance is less about fear of technology and more about lack of involvement in change design.
“However, comfort with advanced AI capabilities remains limited. Only 27% of surveyed employees say they are comfortable delegating tasks to AI agents, and regular AI usage among workers has declined slightly compared to previous months. This points to the need for executives to focus not just on deployment, but on trust, enablement and shared ownership of AI systems.”
For executives planning to scale AI in 2026, the message is clear: value will come from treating AI as a workforce transformation initiative, not just a technology investment, the report asserts.
“In the year ahead, AI success will be defined less by how much organisations spend and more by how effectively executives align people, processes and technology. Those who bridge the gap between executive intent and employee experience will be best positioned to turn AI from a strategic promise into a sustained competitive advantage.”
News
New Horizons Invests N50m to Empower Almajiris with Skills

New Horizons Nigeria has launched a N50 million initiative aimed at transforming 21 Almajiri children into skilled computer technicians within 90 days, to tackle youth unemployment and harness human potential.

The Almajiri-to-Tech programme, officially launched in Abuja on Monday, provides participants with full training, meals, clothing, tools, and logistics support, all fully funded.
Speaking at the launch, the Chief Executive Officer of New Horizons, Tim Akano, said the programme represents a new journey in the history of Nigeria by restoring the original purpose of the Almajiri system, which he described as “children sent out to seek knowledge.”
“The word Almajiri comes from an Arabic term meaning emigrant and seeker of knowledge. Historically, children were sent to learn morals, responsibility, and skills to add value to society,” Akano said.
He added that the disruption of this system during colonial times forced many children onto the streets, a challenge that persists today.
Akano highlighted the urgency of addressing the Almajiri issue, noting that there are an estimated 15 million Almajiris in the country, with a population growth rate of around three per cent annually.
“If we do not solve this problem as a country, we are sitting on a time bomb,” he warned.
According to him, the programme focuses on hands-on technical skills rather than theory. Trainees will learn to repair mobile phones, laptops, televisions, radios, standing fans, and other electronic devices, as well as build inverter batteries using recycled electronic waste.
“We are not teaching theory. We are teaching practical skills you can use to earn a living,” Akano said, stressing that the programme will not interfere with the participants’ Quranic education.
“We are still going to allow you, within the period of learning. Your learning computer here is not stopping your Quranic education.
“You still have time within our space here. Whenever you want to go and pray, you can pray, then come back to class,” the CEO stressed.
He added that participants will also receive daily meals, water, T-shirts identifying them as technicians-in-training, and access to all necessary tools and equipment throughout the 90-day programme.
Akano said the initiative is part of a larger mission by New Horizons Nigeria, which has spent the past 21 years training about 100,000 Nigerians annually in IT and related skills.
He said the new programme aims to “take human genius off the streets and convert it into human capital, enabling these youths to contribute meaningfully to the economy.”
He added that equipping Almajiris with skills could add 15 million people to Nigeria’s workforce and potentially increase the country’s GDP by as much as $20 billion, stressing that productivity depends on practical skills and opportunity.
“Everything that can be taught can be learned. If someone can memorize the Quran cover to cover, there is nothing that cannot be done. What they lack is information, opportunity, and infrastructure, and we are providing all of that,” Akano said.
Akano also stressed that the initiative is designed to inspire other organizations and government agencies to replicate similar programmes across the country.
“This is not just about 21 children; it is about showing Nigeria what is possible when resources meet intention and planning.
“If we succeed in empowering these Almajiris, we demonstrate that the country can turn social challenges into economic opportunities. It’s a blueprint for Nigeria’s future,” he said, noting that the initiative combines social reform, technical education, and economic empowerment.
Also speaking, one of the trainees, Fatima Umar, appreciated the organisers and promised to maximise the opportunity.
“We’ll make you proud of us. We have nothing to say here but to thank and appreciate you. May Almighty Allah continue to guide and protect you,” Umar said.
News
IMF Upgrades Nigeria’s 2026 Growth Projection to 4.4%

International Monetary Fund has upgraded Nigeria’s 2026 economic growth projection to 4.4 per cent, reflecting improved macroeconomic stability and sustained reforms.

IMF
The January 2026 World Economic Outlook Update forecasts Nigeria’s growth trajectory at 4.1 per cent in 2024, 4.2 per cent in 2025, and 4.4 per cent in 2026—a 0.2 percentage point increase from the October 2025 estimate.
This aligns with sub-Saharan Africa’s projected 4.6 per cent expansion in 2026 and 2027, driven by regional stabilisation efforts.
Globally, the IMF anticipates 3.3 per cent growth amid resilient conditions tempered by trade policy shifts and technology investments. For Nigeria, declining energy prices—expected to fall seven per cent due to weak demand—pose risks, though OPEC+ coordination and China’s stockpiling provide support.
Despite the optimism, downside risks persist from Middle East and Ukraine tensions, protectionism, high debt, and fiscal deficits. The Fund recommends rebuilding fiscal buffers, ensuring central bank independence, and limiting temporary fiscal measures to maintain stability.
Nigeria’s success hinges on consistent reforms and resilience against domestic and global shocks, the IMF concluded.
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