The National Pension Commission (PenCom) has reported that Nigeria’s pension assets’ net value increased to N19.531 trillion as of the end of January this year, representing 6.40% growth when compared to the N18.356 trillion net assets value reported as of December 31st 2023. The January 2024 pension net asset value implied that on a year-on-year basis, […]
The National Pension Commission (PenCom) at the weekend disclosed that the total pension assets under the Contributory Pension Scheme (CPS) had grown to about N18 trillion as of December 2023 even as registered contributors also increased to about 10.I million. The commission’s Head, Corporate Communications Department, Ibrahim Garba Buwai, who gave these hints at the […]
The Chief Executive Officer of the Pension Funds Operators’ Association of Nigeria, Mr. Oguche Agudah, disclosed Friday that the National Pension Commission (PenCom) recovered N24.8 billion of funds unremitted by employers in the third quarter of 2023. Agudah, who spoke at a media parley with the theme “At the dawn of 20 years of pension […]
…Initiative ‘ll boost equities market liquidity – SEC The National Pension Commission (PenCom) has hinted of its plan to release new draft guidelines to Pension Fund Administrators (PFAs) for securities lending as part of its efforts to boost investment in the nation’s pension sector. The commission’s Head of Investment Supervision, Mr. Ibrahim Kangiwa, who made […]
The National Pension Commission (PenCom), has recovered about N24.53 billion as pension contributions owed workers by defaulting employers across the country. The Director-General of PenCom, Mrs Aisha Dahir-Umar, made this disclosure on Thursday in Lagos at the 2023 Labour Writers Association of Nigeria (LAWAN) Workshop with the theme ‘Securing the Future: The Benefits of the […]
The Securities and Exchange Commission (SEC) Nigeria has expressed optimism that the passage of the Investments and Securities Bill (ISB) 2023 and its signing later by the President will create new investment opportunities in the nation’s capital market and improve its contributions to the Gross Domestic Product (GDP) The commission’s Director-General, Mr. Lamido Yuguda, pointed […]
Nigeria’s pension fund assets grew to N14.99 trillion as of December 2022, representing a 11.7% growth or N1.5 trillion compared to N13.42 trillion recorded in 2021. The latest Pension Industry report published by the National Pension Commission (PenCom) indicated that 11.7% growth recorded in year 2022 was 40.2% higher than the N1.12 trillion increase recorded in […]
The National Pension Commission (PenCom) has approved 34 primary mortgage banks to participate in the use of the Retirement Savings Accounts (RSAs) for residential mortgage financing in the country. The approved 34 mortgage banks comprised 18 from Lagos, 8 from Abuja and the remaining 8 are from other states. According to the approved list, the […]
Worried by the disparity in their retirement benefits, retirees in the Federal civil service have decided to seek legal redress after years of discussions with the authorities on the matter did not yield any positive results. Already, the retirees who are from the six geopolitical zones, have approached the National Industrial Court, Abuja to seek […]
The Securities and Exchange Commission (SEC) Nigeria at the weekend expressed optimism that the passage of the proposed Investments and Securities Bill (ISB) will check the surging incidents of Ponzi/Pyramid and other illegal investment schemes in the country. The Director-General of the commission, Mr. Lamido Yuguda, was quoted in a statement that the passage of […]