Pension assets dip by N7bn

National Pension Commission

Pension assets dip by N7bn     Latest report by the National Pension Commission (PenCom) has shown that aggregate pension assets in Nigeria took a dive by N7 billion in January. Business Metrics found that the pension assets which ended December 2020 at N12.306 trillion fell by N7 billion to N12.299 trillion as of the end of January. Meanwhile, some operators have also disclosed that has ordered the Pension Funds Administrators (PFAs) to raise their shareholders’ funds from N1 billion to N5 billion. According to the commission, the total number…

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Pension fund managers record N83.94bn profit

Nigeria’s pension assets

Data obtained from the National Pension Commission (PenCom) has revealed that Pension Fund Administrators (PFAs) and their counterparts Pension Fund Custodians (PFCs) recorded a net profit of about N83.94 billion in 2019. A breakdown showed that Stanbic IBTC Pension Managers Limited recorded N49.42 billion followed by Zenith Pension Custodian Limited had N6.03 billion Further details showed that First Pension Custodian Limited recorded N4.31 billion; Leadway Pension Limited, attained N3.27 billion; ARM Pension Fund Managers Limited, N3.25 billion; UBA Pension Custodian, N3.26 billion; Premium Pension Limited, N2.25 billion. FCMB Pension Limited…

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