Take deliberate actions toward leadership, PenCom boss tells women

The Director-General of the National Pension Commission, Omolola Oloworaran, has called on women in the pension and financial sectors to take deliberate steps toward leadership rather than waiting for opportunities to be handed to them.

Speaking at the official launch of the Women in Pension Network, the PenCom DG emphasised the need for women to earn their place in leadership through competence, resilience, and excellence.

WOPEN is a pioneering initiative dedicated to empowering and advancing women in the pension industry through mentorship, coaching, and networking. The launch event was organised by the Pension Fund Operators Association of Nigeria.

In her keynote address, Oloworaran said, “We are not here to ask for favours—women typically do not. Instead, we are here to take what we have worked for and rightfully earned. A seat at the table will not be given; it must be taken through hard work and undeniable merit.”

The event, which brought together female professionals in the pension industry, aimed to foster leadership development and mentorship while advocating greater inclusion of women in decision-making roles.

Highlighting the challenges women face in the sector, the PenCom DG noted that despite playing crucial roles in sustaining the industry, women remain underrepresented in top management positions. She stressed that leadership is not about filling quotas but ensuring that the most qualified women occupy key roles.

“Inclusivity is not just about placing women in leadership positions; it is about placing the right women—those who are prepared, competent, and ready to lead. The best way to break barriers is to be so excellent that ignoring us is not an option,” she said.

She further called for an end to unhealthy competition among women, urging them to support one another.

She said, “When one woman rises, she must pull others up with her. We must cultivate a culture of mentorship, collaboration, and boldness in claiming our achievements.”

The DG also highlighted the importance of continuous self-development, urging women to remain at the forefront of industry trends, sharpen their skills, and build strong professional networks.

In a rallying call to the only man present at the event, she urged male allies to advocate gender inclusivity, stating that true leadership involves creating spaces that accommodate both men and women.

“We need more men to be allies—men who will amplify women’s voices and create spaces that truly fit us,” she added.

The launch of WOPEN aligns with the 2025 International Women’s Day with the theme, ‘Accelerate Action’, which calls for proactive steps towards gender inclusion and equity in leadership.

Speaking with The PUNCH, the Vice President of the Pension Fund Operators Association of Nigeria, Joy Ojakovo, said the launch of WOPEN was driven by the need to amplify the voices of women in the pension industry.

“WOPEN is a platform for women to grow in leadership and empower themselves, learn, get sponsors and also mentor each other because, as the saying goes, your net worth is your network,” she said.

In terms of specific goals that WOPEN seeks to achieve, Ojakovo said a 50/50 ratio of men and women in leadership in the pension industry was not out of place.

“If you look at the pension industry, the percentage of women that are in leadership positions is very low. Yes, we have women who are executive directors, but this is the time for us to start training the young ladies, teaching them the rudiments in terms of the skills that they need to have and the knowledge and ensuring that they put themselves forward for challenging projects, not just the routine stuff, because that is the way to get the experience needed for leadership. It is really important to build the younger girls right now so that when they grow, I’m sure they will take over the industry, and we will have that 50/50 leadership that we are currently targeting,” she said.

The managing director of Union Bank, Yetunde Oni, who was on a panel at the event, called for a structuring of human resources policies to accommodate the peculiarities of women without sacrificing performance and business objectives.

She said, “We have been left behind for so long that we must be intentional that women’s work is recognised, rewarded and promoted in the workplace.”

Highlighting the introduction of an improved maternity leave policy at the bank, Oni said women in leadership positions need to make decisions that make the workplace easier for women.

“We are in different leadership positions; how are we looking at the policies in our organisation to make sure that women are included? We need to look at the structure and foundation,” she said.

The Chief Executive Officer of UBA Pension Custodian, Blessing Ogwu, urged women to take advantage of networking opportunities and mentorship platforms to boost their chances of thriving in the sector.

The Executive Director of Zenith Pensions, Olayinka Ajayi, called on women to break past barriers, whether self-imposed or socially imposed, to become the versions of themselves.