Sunday, September 28, 2025
23.5 C
Lagos

PenOp Partners PenCom on Maximising Potential of RSA Fund VI, Exploring Sharia-Compliant Investment

The Pension Fund Operators Association of Nigeria (PenOp), along with the National Pension Commission (PenCom) recently convened a webinar titled “Maximising the Potential of RSA Fund VI: Exploring Sharia-Compliant Investments.”

The event gathered industry stakeholders to address the growing interest in non-interest financial products, particularly those under RSA Fund VI, a dedicated Sharia-compliant fund within the Contributory Pension Scheme.

In his opening remarks, Oguche Agudah, CEO of PenOp, emphasised the importance of expanding the investment options available under RSA Fund VI. He called for deeper industry collaboration to address existing challenges and seize opportunities for growth in Sharia-compliant and ethical investments.

The Chairman of the Pension Industry Non-Interest Advisory Committee (PINAC), Dr. Adam Muhammad Abubakar outlined the current challenges PFAs face in accessing Sharia-compliant instruments. He stressed the need for more investment outlets and enhanced awareness about the growth potential of non-interest financial products.

Bil-yaminu Yakubu, Who represented the Head of Investment Supervision at Pencom- Mr. Dahiru, Abdulqadir, highlighted the efforts the Commission had made to advancing the ethical investment space, stating: “We understand the challenges PFAs are facing in terms of regulatory clarity. Pencom is committed to providing clear rules that will foster confidence in investing in non-interest instruments, ensuring compliance while driving innovation.”

The session also highlighted how Sharia-compliant investments, particularly Sukuk bonds, have played a crucial role in raising infrastructure funds.

Attendees argued that expanding the issuance size of such instruments is seen as key to attracting more PFA participation and driving the growth of RSA Fund VI.

Participants also discussed the importance of clear guidelines from Pencom and SEC to support the growth of non-interest financial instruments.

Abimbola Yusuf, Treasurer of Alternative Bank, spoke about their transition into a standalone non-interest bank and highlighted upcoming products for Fund VI, stating, we are committed to delivering tailored financial services that comply with Islamic finance principles. Our goal is to offer pension fund administrators innovative products that meet both liquidity needs and ethical standards.

Akeem Oyewale, CEO of Marble Capital, echoed similar sentiments, adding, the market for Sharia-compliant investments is growing, and we are developing a robust pipeline of instruments to support PFAs in diversifying their portfolios. Collaboration with issuers is key to ensuring that the size of Sharia-compliant issuances grows, creating more investment opportunities.”

As the demand for non-interest financial products continues to grow, PenOp remains committed to ensuring that Sharia-compliant and ethical investments can thrive within Nigeria’s pension framework. The association continues to work closely with regulators and industry players to unlock the full potential of RSA Fund VI.

The session was sponsored by Alternative Bank and Marble Capital.

spot_img
spot_img

Hot this week

AIICO Deepens Bond with Retirees, Holds Annuity Forum in Lagos, PH

Mr. Gbenga Ilori, Head, Retail Business at AIICO, in...

Sovereign Trust Insurance Holds 30th AGM

L-R: Eric Balogun, Independent Director, Emi Faloughi, Director, Kayode Adigun,...

Unity Bank Shareholders Approve Merger with Providus Bank

  EGM: From left: Mr. Usman Abdulkadir, Executive Director, Risk...

NNPCL: Ogoni Re-entry is a Beacon of Reconciliation through Collaboration

The re-entry into Ogoniland marks a historic turning point...

NLNG, NCDMB Celebrate 122 Graduates of Train 7 HCD Training Program

NLNG in collaboration with the Nigerian Content Development and...

Topics

FG Tackles New York Times over Report on Nigeria’s Economic Situation

 Ruth Maclean and Ismail Auwal's feature story with the...

N19.3tr E-Payment Transactions Recorded in Q3

Figures from the National Bureau of Statistics and Central...

NSE Retains ISO 27001:2013 Certification

The Nigerian Stock Exchange (NSE) has announced the retention...

NEXIM Attends African Dev Bank Meeting in India

L-R: Hon. Stella Okotete, ED/Business Development, NEXIM Bank; President...

FOR THE RECORD: CITN Commends FIRS over Tax Collection

Revenue derivable in Nigeria can broadly be categorized under...

Banks’ Non-Performing Loans Top N1.6Tr in June 2016

Banks operating in Nigeria accumulated non-performing loans of over...

NAICOM Confirms Pius Apere as Linkage Assurance CEO

The National Insurance Commission (NAICOM) has confirmed the appointment...

‘Poor Education Funding Stalling Growth in Nigeria’-IntelServe CEO

Mr. Roman Oseghale, Head Consultant and CEO of IntelServe...
spot_img

Related Articles

Popular Categories

spot_imgspot_img