Tinubu Appoints Opeyemi Agbaje as New PenCom Chairman Amid Labour Pressure

President Bola Tinubu has appointed Opeyemi Agbaje, a seasoned professional with over four decades of experience in law, banking, finance, academia, and business consulting, as the new Chairman of the National Pension Commission (PenCom).

The announcement comes just days after the Nigeria Labour Congress (NLC) issued a seven-day ultimatum to the Federal Government demanding the reconstitution of PenCom’s governing board, warning of a possible nationwide strike if action was not taken.

Agbaje, a former Executive Director at Guaranty Trust Bank (GTBank), brings a distinguished record of service in both the private and public sectors. He holds a Law degree with honours from the University of Ife (now Obafemi Awolowo University) and was called to the Nigerian Bar in 1986. He later earned a master’s degree in Law from the University of Lagos and an MBA from IESE Business School, Spain. He is currently pursuing a Doctorate in Business Administration at Eaton Business School.

His career began at Kola Awodein and Co, SAN, before moving to the legal department of First Bank of Nigeria Plc. In 1990, he joined GTBank as a foundation staff, rising through the ranks to become Executive Director before his voluntary retirement in 2004.

Post-banking, Agbaje established RTC Advisory Services Ltd, a consultancy firm, while also teaching business strategy at the Lagos Business School. He served on the board of the Lagos State Security Trust Fund (2011–2019) and later as CEO of the Ogun State Security Trust Fund (2019–2021).

Beyond corporate leadership, Agbaje is widely known for his contributions to policy and economic discourse. He authored the widely followed “Economy, Polity, Society” column in BusinessDay from 2006 to 2019 and anchored “The Policy Council” on Channels TV between 2011 and 2015.

The new PenCom chairman is married with children, holds the title of Knight of John Wesley (KJW) in the Methodist Church, and is respected for his philanthropic work.

His appointment is expected to bring fresh energy and credibility to PenCom at a time when pension administration and workers’ trust in the system are under intense national debate.