Pension investments in FG securities up 20.6% to N10.9trn
Cynthia Ezekwe
August 16, 2023
By Cynthia Ezekwe. Pension investments in federal government securities by Pension Fund Administrators (PFAs), rose to N10.8 trillion in the first half of the year, representing a 20.6 percent Year-on-Year increase from N9 trillion in the corresponding period of 2022 (HI ’22). The National Pension Commission (PenCom), made the disclosure in a recent […]
PenCom mulls regulations to deepen securities lending for PFAs
Cynthia EzekweAugust 10, 2023
By Cynthia Ezekwe. The National Pension Commission (PenCom) said it is working on regulations to enable Pension Fund Administrators (PFAs) participate in securities’ lending in the Nigerian stock market. Ibrahim Kangiwa, head, investment supervision at PenCom, Ibrahim disclosed this recently at a workshop tagged “Business Facilitation Act 2023 as a Catalyst for Deepening Securities Lending […]
Pension investment in FG Securities jump 20.6% to hit N10.9trn in H1’23
Isaac JayeolaAugust 8, 2023
By Cynthia Ezekwe. Pension investments in the federal government securities by Pension Fund Administrators (PFAs),rose to N10.858 trillion in the first half of the year,representing a 20.6 per cent Year-on-Year increase from N9.007 trillion in the corresponding period of 2022 (HI ’22). This is according to a recent data presented by the National Pension […]
FGN releases ₦13.89bn for 2022 pension retirees
Chisom NwatuJanuary 5, 2023
By Chisom Nwatu The Federal Government of Nigeria (FGN) has released ₦13.89 billion for payment of accrued pension rights for Contributory Pension Scheme (CPS) retirees who retired in the year 2022. The National Pension Commission (PenCom) made the announcement in a statement seen by business a.m, stating that the accrued pension rights represent an employee’s benefits […]
PTAD pays N12.39bn arrears to 11,145 Nitel/Mtel pensioners
Luther AnimashaunDecember 21, 2022
By Luther Animashaun The Pension Transitional Arrangement Directorate (PTAD), has paid a total of N12,39 billion to clear a 15-month estimated arrears for 11,145 Nitel/Mtel pensioners. Chioma Ejikeme, the PTAD executive secretary, who made the disclosure, explained that the 15 months payment is part of the outstanding 63 months of inherited unfunded pension liabilities to […]
PenCom clears 34 licensed lenders to kick off RSA residential mortgage
Olivia NnoromDecember 12, 2022
By Olivia Nnorom Retirement Savings Account (RSA) holders wishing to access 25 percent of their RSA balance to be used for equity contribution towards residential mortgage can now apply to their Pension Fund Administrators (PFAs) as the the National Pension Commission (PenCom) has published a list of 34 approved licensed mortgage lenders (Primary Mortgage Banks) […]
Insurance experts push negotiation, mediation as options for claims dispute resolution
Olivia NnoromNovember 28, 2022
By Olivia Nnorom Experts in the insurance industry have recommended negotiation and mediation as effective means of resolving claims-related disputes other than arbitration and litigation. The experts, who spoke at the maiden edition of the annual insurance claims advocacy conference (ICAC) organised by Care First Consult in Lagos on Thursday, said litigation should be the […]
Gross assets value dips N6.9bn in one month despite rise in RSA
Zainab IwayemiApril 5, 2021
THE TOTAL GROSS ASSETS value has dropped to N6.9 billion, representing a 0.06 percent fall in January 2021 compared to the amount recorded in December 2020 despite that the total Retirement Savings Account (RSA) rose during the period, a new report from the National Pension Commission (PenCom) has revealed. Te unaudited report, which highlighted the pension funds industry […]
FCMB Pensions in talks to buy AIICO Pension
Omobayo AzeezJune 26, 2020
By Omobayo Azeez FCMB Pensions Limited, a subsidiary of First City Monument Bank (FCMB), has commenced the process of acquiring AIICO Pension, the two parties have disclosed. In separate filings at the Nigeria Stock Exchange, the duo Wednesday notified the investing public of the deal acquisition saying that FCMB has entered into discussions with shareholders […]
PENCOM operating illegally for 4 years – Reps
Businessam StaffMarch 12, 2020
The House of Representatives committee on pensions has summoned Boss Mustapha, the secretary to the government of the federation, over allegations that the board of the Pensions Commission, PENCOM, has been operating since 2016, without a board, in contravention of section 19 of the Pension Reform Act, 2014. The committee also insists the acting DG […]