Tinubu Names Opeyemi Agbaje as PenCom Boss

President Bola Tinubu has appointed Opeyemi Agbaje, a former executive director at Guaranty Trust Bank (GTBank), as chairman of the National Pension Commission (PenCom), following pressure from the Nigeria Labour Congress (NLC) for the reconstitution of the agency’s board.

Agbaje, who brings more than four decades of experience spanning law, banking, finance, academia and consulting, is widely regarded as a thought leader in business, economy and policy.

The NLC had issued a seven-day ultimatum demanding the reconstitution of PenCom’s board, warning of industrial action if the government failed to act. Tinubu’s move comes in response to that call.

Agbaje graduated with honours in Law from the University of Ife (now Obafemi Awolowo University) in 1985, was called to the Bar in 1986, and later obtained a master’s degree in Law from the University of Lagos. He also holds an MBA from IESE Business School, Spain, and is completing a doctorate in Business Administration from Eaton Business School.

According to a statement announcing his appointment, “Agbaje has worked in the law firm of Kola Awodein and Co, SAN and the legal department of First Bank of Nigeria Plc in the 1980s, before entering mainstream banking and finance as a foundation staff of GTBank in 1990, where he rose to Assistant General Manager in eight years.”

The statement added, “Opeyemi Agbaje enjoyed a successful banking career, rising to Executive Director before voluntarily exiting the industry in 2004. Since 2004, he has worked as Founder and CEO of successful indigenous business consultancy, RTC Advisory Services Ltd, focusing on economy, policy, strategy and organisational transformation.”