About Us

PenOp is an independent, non-governmental, non-political and non-profit making body.

This organization was established to promote the operations of the pension industry, provide for self-regulation and ensure that international best practices relating to the industry are observed by the operators registered in Nigeria.

The Role of PenOp

Its role internally, is to add value to its members across all levels; information, education, visibility, networking etc. externally its role is to increase the awareness and visibility of the pension industry and enable external stakeholders understand and participate in the development of this financial sub-sector wherever and whenever possible. Its positioning, is to be the influencer externally and the ‘mother to all’ internally, while managing the perception of the segment through the propagation of its brand values.

Our Values

We are driven by the need to acquire knowledge to enable us to carry out our functions effectively and convey the same to those we come in contact with.

Impact Focused
We understand our role as catalysts for economic and social development through our direct and indirect activities and we take this role very seriously.

We are resilient, efficient, and expansive in our thinking and approach to issues. We never give up and we consider the bottom line in everything we do.

We are always looking for better, faster, and simpler ways to deliver on our objectives and we believe that there is always a better and more creative way to get things done.

We strive for world-class standards and outcomes in everything we do, we ensure that we deliver today better than we did yesterday. We believe in constant improvement.

We respect everyone we come in contact with. We believe that everyone’s voice, opinion, and individuality counts, so we look for the best in everyone and every situation.

The Excos​

Meet our esteemed past and present executives​

Our Present Executives

Olumide Oyetan

Olumide Oyetan


Olumide joined Stanbic IBTC in 2000 and has served in different roles across the Group both within and outside Nigeria.

Prior to his appointment as Chief Executive, Olumide was Executive Director, Investments. He was also Head Projects for Wealth, Africa Regions in 2017, as well as Head of Advisory Products for the Standard Bank Wealth and Investment business in South Africa.

Olumide served as the Chief Executive of Stanbic IBTC Asset Management between July 2009 – July 2015. Prior to that, he was an Executive Director in charge of Investment Management for Stanbic IBTC Asset Management and acted as Head Investment Management at Stanbic IBTC Pension Managers Limited where he oversaw various investment strategies and portfolios.

Olumide holds a Bachelor’s degree in Economics, Politics and Government from the University of Canterbury, United Kingdom as well as a Master of Science in Financial and Commercial Regulation from the London School of Economics and Political Science.

Joy Ojakovo

Vice President


head of branding and communication

Idu  is a 1991 graduate of Philosophy from University of Port Harcourt, and a holder of Master of Business Administration (MBA) from Suffolk University, Boston, Massachusetts USA (2004). Her experience spans Funds Management, Compliance and Risk Management, Sales, Client Relationship Management and Customer Services in Banking/Financial Institutions and Oil and Gas.

She was Head of Public Sector Group (PSG) in Stanbic IBTC Bank, Chief Compliance Officer of Stanbic IBTC Pensions Limited and Chief Executive Officer at Oceanic Pension Fund Custodian. She was also the Head of Operations in Diamond Pension Fund Custodian Limited prior to joining Oceanic Pension Fund Custodian. In the US, she played diverse roles as Portfolio/Risk Administrator, Corporate Actions Specialist, Fund Management and Compliance Manager at State Street Corporation and Brown Brothers Harriman, Boston, MA before relocating to Nigeria in 2006.


Mrs. Okwuosa is a highly motivated person with strong interpersonal, communication and leadership skills. She has a talent for motivating team members, proactively identifying and resolving problems, controlling costs, increased turnover, maximizing efficiency and profit, and adding value. A social entrepreneur dedicated to saving and giving plastics a second chance, while providing a sustainable solution to environmental pollution through recycling. She is a lover of God, a woman of faith, and a mother to 3 young adults

She is a member of the Board of Risk Management and Compliance.

Godson Ukpevo

Head of Legal Committee

Godson Ukpevo holds a Masters’ degree in Banking and Finance from the University of Lagos, an MBA from the Enugu State University of Technology and a Bachelors’ degree in Sociology and Anthropology from the University of Benin.

He has worked in senior and executive management positions in various organizations across different sectors. These include Ecobank Nigeria Limited, First City Monument Bank, former Citizens International Bank and Clay Grounds Agro. Allied Company.

He has also played strategic roles in the reforms in the Nigerian Pension Industry in particular, the old Defined Benefit Scheme of the Federal Government as the pioneer Director and Head of the Civil Service Pension Department of the Pension Transitional Arrangement Directorate, PTAD


He has attended several trainings in financial management, sales and marketing, credit risk application and change management organized by top institutions like Citigroup Inc., INSEAD Business School, FitchLearning, Arthur Anderson & Co in New York, Fontainebleau, London and Lagos.


Head of Technical Committee

Dapo joined Tangerine Pensions effective June 1, 2015, as Chief Executive Officer of Tangerine Pensions Limited.
Prior to joining Tangerine Pensions, his career included about 10 years with Asset and Resource Management Company Limited (ARM Group), where he served in various capacities. His last role at ARM was as Executive Director, ARM Securities Limited, where he was responsible for managing the business. Previously, he served as Executive Director (Technical) at ARM Pension Managers (PFA) Limited, having oversight of Investment Management, Business Development & Relationship Management, and Risk Management. His experience at ARM also included serving as Head, Investment Management and Research, ARM Investment Managers.

Dapo was a member of several committees constituted to ensure the effectiveness and growth of the firm’s fund management business, and that guided the successful launch of various ARM products. These investment committees include those of ARM Discovery Fund, ARM Aggressive Growth Fund, ARM Ethical Fund, and ARM Properties PLC. He also represented ARM on the board of Briscoe Properties Limited as a non-executive director.

Dapo comes on board with diverse experience in financial services. Other organizations he has served include Howarth Dafinone (Chartered Accountants), formerly D. O. Dafinone and Co., Alliance Consulting, Agusto and Co. Limited, Citibank Nigeria Limited, where he spent almost six years, and Stanbic IBTC Bank PLC.

Dapo holds a B.Sc. in Economics from the University of Ibadan, Nigeria, and an M.Sc. in Finance from the University of Strathclyde, Glasgow, U.K. He is also an alumnus of International Institute for Management Development (IMD), Lausanne, Switzerland.

Oloruntimilehin George


Mr. Oloruntimilehin (Timi) George, is a seasoned banker with cognate experience spanning well over 25 years at various local and international banks; he assumed office as Managing Director/ Chief Executive Officer of First Pension Custodian Nigeria Limited in March 2020.

Prior to this, he served as Group Head, Financial Institutions and Multilaterals at First Bank of Nigeria Limited.

Timi has a background in Business Administration and holds an MBA in Strategic Management. He is an alumnus of the Lagos Business School and has a number of notable fellowships at institutions such as the Institute of Strategic Management, Institute of Brand Management and Institute of Credit Administration and is a Graduate Member, Nigerian Marketing Association, Associate Member, Nigerian Institute of Management, Member, National Association for Family Development (NEFAD), and Honorary Member, Chartered Institute of Bankers of Nigeria and is a Member of the Institute of Directors (IOD).

Since assuming office, he has brought his indefatigable zeal and passion for excellence to bear on the entire organization and has embraced the challenges that have come with the COVID-19 pandemic with the utmost sense of responsibility. He remains undeterred in his quest to leverage his track record of leadership and in-depth knowledge of financial markets to drive the organization’s audacious growth plans. His vision is to revolutionize the pension industry by transforming customer experience by leveraging technology to drive business efficiency.

Timi is a music aficionado and an ardent lover of football; he enjoys reading and having robust debates about economic empowerment.


chief executive officer

Oguche is currently the Chief Executive Officer (CEO) of the Pension Fund Operators Association of Nigeria (PenOp). In this role he leads the efforts of Nigeria’s pension industry in engaging regulators, the government, the media, financial markets and other stakeholders in order to ensure that the interests of the pension operators are protected and promoted and also in ensuring that the pension industry has a positive effect on National Development.

Oguche was previously Nigeria’s Regional Director for OurCrowd, a crowd funding and venture capital firm with headquarters in Israel. He was also previously the Chief Investment Officer/Executive Director of a growing integrated real estate and alternative asset management compan

Prior to this, he worked as a Special adviser to Nigeria’s Minister of Industry, Trade and Investment. His portfolio was “Access to Finance”.  In this role, he advised on and implemented policies, strategies and programmes that could help to increase access to finance for Nigeria’s teeming entrepreneurs.

Prior to this, he worked with Standard Chartered Bank as an associate Director in their Lagos office, where he was in charge of the credit quality of a portfolio of assets worth USD 7 billion dollars.  This included various loan products and derivatives to banks, the government and sovereign owned enterprises (SOEs) in Nigeria.   In Standard Chartered, he had short term assignments in South Africa and London, working in the Risk management, Credit and Corporate Finance functions. In Standard Chartered Bank he held various roles spanning operations, Risk management & Credit, financial institutions and strategy.

He possesses a degree in Banking and finance (University of Lagos) and is a fellow of the Chartered Institute of Bankers Nigeria and an associate of the Chartered Institute of Stockbrokers Nigeria.

He is an avid writer and he has a column in some local and international mediums where he writes and advices on strategy, finance, entrepreneurship and emerging markets.

He is deeply involved in community work, as he mentors a group of volunteers, focusing on building global businesses and leaders out of Nigeria

He is a firm believer in Nigeria, married to his best friend and they have two boisterous children

He has been privileged to experience life as an entrepreneur, a policy maker and an employee in a world class organization operating in an emerging market. These varied experiences have enabled him to appreciate life and business from different perspectives arming him with a unique blend of the excellence of the private sector and the social impact objective of the public sector.

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