The Board of Premium Pension Ltd has selected Bennedikter China Molokwu as an Independent Director as part of its strategic initiative to deliver superior services and reposition the Company to a greater height. She took over from Professor Nat Ofo, a former Independent Director who just left the board after serving his full term.
Molokwu, a University of Nigeria law graduate, was admitted to practice law in Nigeria in 1976 and later earned a master’s degree in international and comparative law (Cum Laude) from Vrije Universiteit Brussel in Belgium. She is a qualified Balanced Scorecard Professional and a member of the Nigerian Bar Association (NBA), International Federation of Women Attorneys (FIDA), and Chartered Institute of Bankers (CIBN).
In addition to serving as president of the Institute of Directors of Nigeria, where she is a council member, Molokwu is a distinguished Fellow of the Institute of Directors (IoD). She has made a significant contribution to the institutionalization of corporate governance in the boards she has served on in the public and private sectors since she is an experienced corporate governance practitioner.
Thus, it is anticipated that her addition to the Board of Premium Pension Ltd as an Independent Director will strengthen the Company’s already strong corporate governance culture.
The new independent director has qualifications in banking and management from several business schools, including the Wharton School, Harvard Business School, and Manchester Business School. She is passionate about personal growth. She participated in a number of courses offered by prestigious institutions, including the Chicago Booth Management School, the IMD Lausanne, and the Citibank Training Centre in New York.
As a Special Assistant to the Director of Planning at ITT Europe Inc. Belgium before moving on to ITT Nigeria Limited, Molokwu started her rise up the corporate executive ladder. Before finally transitioning to being an independent board consultant, she worked for First City Monument Bank (FCMB), where she was an Executive Director, Credit Swift Limited, where she served as the Chief Executive Officer, and Triumph Bank Plc, where she served as Chairman, Interim Management Committee.
She sat on the boards of Standard Chartered Bank Nigeria Ltd, Crusader Sterling Pensions Limited, and FCMB Plc. She now serves as Director of Dangote Sugar Refinery Plc.
She sat on the boards of Standard Chartered Bank Nigeria Ltd, Crusader Sterling Pensions Limited, and FCMB Plc. Currently serving as chairperson of MainData Nigeria Ltd, she is also a director of MainOne Cable Company Nigeria Limited, Falcon Corporation Limited, and Dangote Sugar Refinery Plc, where she chairs the board governance committee.
The appointment of Molokwu is in line with Premium Pension Limited’s strategic goal of being the top pension fund administrator in the nation. She will contribute to the board with her many years of combined expertise in the banking, legal, and financial sectors.
With over N1 trillion in assets under management (AuM), Premium Pension is one of the top pension fund administrators (PFAs) in Nigeria. This milestone was accomplished by the company last year without the aid of a corporate merger.