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Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

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Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

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Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

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Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

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FG Boosts MSME Financing with NCGC Initiative

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ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

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NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

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VerveLife 5.0 Gears Up for Nairobi, Lagos Events

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Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

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Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

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ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

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SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

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Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

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Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

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Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

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Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

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Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

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Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

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FG Boosts MSME Financing with NCGC Initiative

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ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

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Governors, NCC Set for Broadband Awareness Forum Oct 20

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VerveLife 5.0 Gears Up for Nairobi, Lagos Events

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Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

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Capital Market

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SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

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Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

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Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

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Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

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Sovereign Trust Insurance Celebrates 2025 Customer Service Week

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Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

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PenCom: Pension Assets Now N18tn as Retirees Reap N3tn Benefits Since 2004

The National Pension Commission (PenCom) says pension assets under management in Nigeria came to N17.65 trillion as at October 31, 2023 under the new Contributory Pension Scheme (CPS) regime.

Mr. Ehimeme Ohioma, Head, Surveillance Department at PenCom said at the 2023 annual media parley of the Pension Fund Operators Association of Nigeria (PenOp) in Lagos that retirees have equally reaped over N2.7 trillion in terms of benefits to over 1, 268, 440 contributors since the inception of the CPS in 2004. He added that the sum of N13 billion has so far being disbursed to 1, 183 pension contributors under the mortgage support scheme to enable such contributors to either purchase or build their own homes.

In terms of the transfer window, Ohioma stated that a total of 78, 336 Retirement Savings Account (RSA) holders have moved from one Pension Fund Administrator (PFA) to another to the tune of N356 billion in monetary terms.

The pension regulator has also recovered over N248 billion of outstanding pension contributions as at the third quarter of 2023.

Mr. Olumide Oyetan, the President of PenOp commended all stakeholders in the CPS ecosystem for 20 years of doing it right for retirees, operators and the regulator.

Oyetan, who is also the Chief Executive Officer (CEO) of Stanbic IBTC Pension Managers Limited said:

“We need to commend what we have done right since the inception of the CPS in 2004. So far, more than 10 million Nigerians have been covered by the new pension scheme, which funds itself and does not place any burden on the country. The CPS has national safeguards, in-built transparency mechanisms to the extent that no money or pension funds have disappeared into thin air. We should be custodians and guardians of the new pension ecosystem.”

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Topics

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CHI Reports N10.8bn Total Assets Ending 2018

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