Citizens Pensions secures approval to operate as PFA

Joy Agwunobi

Helen N. Da-Souza, managing director of Citizens Pensions Limited

Citizens Pensions Limited has received regulatory approval to operate as a Pension Fund Administrator (PFA) in Nigeria, paving the way for the company to offer pension management services under the Contributory Pension Scheme (CPS).

In a statement, the company said the approval allows it to provide retirement solutions to workers across various sectors, with a focus on accessibility, transparency, and efficiency in pension administration.

As part of its strategic focus, Citizens Pensions is leveraging technology to simplify pension management through digital platforms, real-time access, and automated contributions. The company stated that its technology-driven approach would ensure a seamless experience for contributors, making retirement planning more efficient and accessible.

Addressing the challenges faced by millions of Nigerians in the informal sector, Citizens Pensions is also rolling out Micro Pensions—an initiative aimed at expanding pension access to artisans, traders, and entrepreneurs. With over 80 per cent  of Nigeria’s workforce operating outside the formal pension system, the initiative seeks to bridge the financial security gap by offering flexible contribution plans and a mobile-first approach to enrollment.

Helen N. Da-Souza, managing director of Citizens Pensions Limited, highlighted the company’s commitment to fostering a culture where individuals can take control of their financial future with confidence.

“Our commitment is to deliver pension solutions that are transparent, accessible, and truly life-changing so that every Nigerian can look forward to retirement with confidence,” she stated.

Chukwuka S. Onwuchekwa, chairman of Citizens Pensions, emphasised the broader mission of the company, noting that it aims to provide retirement solutions that enable individuals and institutions to achieve long-term financial security. “We are not just managing funds; we are creating pathways for Nigerians to build retirement savings while confidently navigating tomorrow,” he said.

As it prepares for full-scale operations, Citizens Pensions has assured prospective customers of a streamlined pension management process tailored to meet the needs of both individuals and businesses.