Odunaiya: Appraising The New Sheriff At PTAD

By Prince Toby The Pension Transitional Arrangement Directorate (PTAD) occupies a unique position in Nigeria's national development landscape. Its significance stems from its mandate to cater to the welfare of senior citizens who have devoted a substantial portion of their lives to national service. After decades of tireless contributions, these individuals have earned the right to a peaceful and dignified existence.As a critical institution, PTAD was established to facilitate a seamless transition for public sector workers. Its core responsibility involves managing the payment of entitlements to eligible retirees, thereby providing them with a sense of security and stability. Under the stewardship of Tolulope Abiodun Odunaiya, PTAD is dedicated to ensuring that these senior citizens receive the recognition and support they deserve. The new helmsman has done superlatively well. She has raised the bar of the payment of pension payments administration, and now pensioners have reasons to smile. She has come to clear the bottlenecks and roadblocks. An empathetic leader desirous to do anything within her mandate towards achieving success, Ms Odunaiya took decisive steps at sourcing funds to clear the backlog of arrears of pensions and gratuities.She has achieved the unthinkable, clearing a staggering 96% of long-standing pension and gratuity claims. This monumental feat, accomplished in record time, has sent shockwaves of admiration throughout the corridors of power.On January 13, 2025, she led her team in defending the PTAD's 2025 budget proposal before a joint Senate and House of Representatives committee. Her outstanding performance and groundbreaking achievements sparked praise from Hon. Philip Agbese, Deputy Spokesman of the House of Representatives, who noted that her leadership had marked a significant departure from the past when pension claims often went unpaid. Agbese was right. Odunaiya has been a transformative force since taking office on November 18, 2024. With unrelenting passion, she has revamped the pension administration system, prioritising the welfare of senior citizens and alleviating their economic hardships. Through strategic engagement and collaboration with stakeholders, Odunaiya has pinpointed and tackled longstanding issues, devising innovative solutions to ensure the smooth operation of the pension program.Her people-centric approach has been instrumental in addressing the pressing economic challenges faced by vulnerable citizens, including pensioners. Under her leadership, the standard of living for retirees under the Defined Benefit Scheme (DBS) has seen significant improvement, eclipsing the shortcomings of previous strategies. Odunaiya's steadfast commitment to resolving DBS pensioner issues has earned her recognition.As a pragmatic nationalist, she prioritised workers' welfare, increasing pensions by 20% and introducing a minimum pension of N32,000 for retirees. This enhancement benefits retirees from specific salary schemes, including health workers, doctors, lecturers, police, and armed forces personnel, demonstrating her commitment to improving the lives of pensioners nationwide.Ogunaiya's relentless pursuit of excellence has led to remarkable breakthroughs in digital technology, streamlining enrollment and disbursement processes. Her innovative approach has achieved outstanding results, including prompt payment of pensions and gratuities, efficient data management, and the introduction of electronic payment systems for pensioners and retirees. Her exemplary leadership and regular engagement with stakeholders have boosted loyalty and productivity among the workforce.Ogunaiya's impact extends beyond her immediate role, influencing other sub-sectors of the financial industry through robust policies and programmes that promote financial growth. The pension scheme, under her guidance, has evolved to include investment, risk management, and better accounting practices. This expansion has contributed to the development of the Equity market, driving overall economic development.Furthermore, the funded scheme has accumulated substantial long-term investable funds, fuelling national economic growth. Her tenure has witnessed a substantial increase in pension assets from N14.99 trillion recorded in October 2023, a CPS membership of about 278,800 and new Retirement Savings Accounts (RSAs) from 9.86 million as of December 2022 to 10.14 million as of October 2023.She has amplified what a devoted and determined leader can achieve through her equanimity and has made the enrolment/registration of prospective retirees easier and less rigorous through the innovative process of online enrolment/registration for prospective retirees. In collaboration with PenCom, she has also provided two options for registration and enrolment: The Self-Assisted option and the Pension Desk Officer (PDO)/PFA-Assisted option.To ensure the inclusivity of employees of private organisations and ensure compliance by employers, she has compelled compliance with the provisions of the Pension Reform Act, of 2014 (PRA, 2014). This law mandates all organisations with at least 3 employees to participate in the CPS. The PCC is evidence of compliance with the PRA 2014 and serves as a prerequisite for all suppliers, contractors, or consultants soliciting any contract or business from the Federal Government’s Ministries, Departments, and Agencies (MDAs).Her introduction of various strategic innovations hinged largely on improved service delivery to retirees has led to effective and efficient seamless disbursements of entitlements. Her strategic conflict resolution mechanism has led to the expeditious resolution of complaints and issues such as uncredited pension contributions emanating from both pension contributors and retirees. This, indeed, is a new era.Toby is a senior legislative aide in the office of the deputy Spokesperson, 10th House of Representatives.