Kenya’s Retirement Benefits Authority (RBA) has sent a delegation to Abuja, Nigeria, for a four-day technical study visit to the National Pension Commission (PenCom), underscoring Nigeria’s growing reputation as a model for pension reform on the African Continent.
The four-member Kenyan team, led by John Keah, Director of Market Conduct and Industry Development at the RBA, is in Nigeria from June 8 to 11, 2026, to understudy PenCom’s regulatory and supervisory frameworks. The visit is themed “Risk-based Supervision and ESG Integration in Pension Funds.”
Keah said Nigeria’s experiences are particularly relevant to ongoing reforms in Kenya, citing structural similarities between the two countries’ pension landscape.
“We are particularly interested in PenCom’s ESG Initiatives, risk-based Supervision Framework, strategy for expanding pension coverage to the informal sector, and the Diaspora Pension Arrangement,” he said, describing the latter as an innovative initiative with strong potential to reduce old-age poverty.
Receiving the delegation, PenCom’s Director-General, Ms. Omolola Oloworaran, said Nigeria’s Contributory Pension Scheme (CPS), introduced in 2004, has recorded remarkable growth, with pension assets under management now exceeding N32 trillion, equivalent to approximately 10.4% of Nigeria’s GDP.
Oloworaran, who was represented by the Director of Surveillance Department, Abdulrahaman Muhammad, also highlighted the Federal Government’s recent issuance of bond to settle outstanding accrued pension rights liabilities as a landmark development, noting that it has eliminated lengthy delays that previously prevented public sector retirees from accessing retirement savings.
The visit includes presentations from several PenCom departments, study visit to selected Pension Fund Administrators (PFAs), and a concluding feedback session on lessons learned and future areas of collaboration between the two regulators.
