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Tag: Pencom

Business

Senate confirms Opeyemi Agbaje as PENCOM boss

The Nigerian Senate has approved Mr. Opeyemi Olukayode Agbaje as Chairman of the National Pension Commission, along with four commissioners representing the country’s geopolitical zones. The confirmation, following a formal request from President Bola Tinubu, completes the long-awaited constitution of the commission’s governing board. The newly confirmed commissioners are: Hafiz Muhammad Kawu Ibrahim (North West) […]

Finance

Over 10m Nigerians benefit from pension scheme — PenCom

The Director-General of the National Pension Commission, Omolola Oloworaran, has asserted that the Contributory Pension Scheme has completely rewritten Nigeria’s pension narrative over the last two decades. Ms. Oloworaran made this declaration during the Stakeholders’ Conference on the Workings of the CPS for employees and pensioners of the federal government treasury-funded Ministries, Departments, and Agencies […]

Business

PenCom tightens capital rules for pension fund operators

The National Pension Commission has raised the minimum capital requirements for Pension Fund Administrators and Pension Fund Custodians to N20 billion and N25 billion, respectively. The new threshold must be met by 31 December 2026. The announcement comes in a recent circular from the regulator, which has introduced several key guidelines over the past week […]

Finance

Pensioners to benefit from ₦758bn bond, PenCom DG assures

The National Pension Commission has assured pensioners across Nigeria that all outstanding pension increases approved by the Federal Government will be fully implemented before the end of the year, backed by a ₦758 billion bond released by President Bola Ahmed Tinubu. The Director General of PenCom, Omolola Oloworaran, gave the assurance during a courtesy visit […]

Insurance

PenCom okays gold receipts for pension funds investment

The National Pension Commission has unveiled a revised regulation that allows pension funds to gain exposure to gold through tradable Gold Receipts listed on Securities and Exchange Commission-recognized exchanges. This innovation enables pension fund administrators to invest in gold without the complexities of physical storage, offering a secure and liquid alternative asset class. According to […]

Finance

PenCom allows PFAs to invest in foreign currency instruments

The National Pension Commission has released the ‘Guidelines on Foreign Currency Pension Contributions,’ allowing Pension Fund Administrators to invest part of the pension funds in foreign currency-denominated instruments. This move is expected to expand access to the Contributory Pension Scheme for Nigerians earning in foreign currency, including those living abroad. The guidelines also aim to […]

Finance

PenCom to pilot health insurance for retirees

The National Pension Commission has announced plans to pilot health insurance coverage for retirees within the next three months and activate the Minimum Pension Guarantee to safeguard retirees’ dignity and support a decent standard of living. According to the Director General of PenCom, Ms. Omolola Oloworaran, the regulator will also unveil a series of guidelines […]

Business

PenCom bans substantial cross-shareholding among PFOs

The National Pension Commission has issued new guidelines prohibiting substantial cross-shareholding among licensed Pension Fund Operators. Released on Friday and effective immediately, the guidelines aim to enhance transparency, strengthen governance, and safeguard pension assets. PenCom defines significant cross-shareholding as a scenario in which a major shareholder in one LPFO: a) acquires or seeks to acquire […]

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Business featured

Trump’s new H-1B visa fees spark chaos for banks, tech firms

United States tech firms and banks scrambled this weekend after President Donald Trump imposed new fees on H-1B visa applications, prompting panic among skilled workers from India and China. Employers issued urgent memos instructing staff abroad to return before the rule took effect at 12:01 a.m. Eastern Time on Sunday and to avoid further international […]

Business

PenCom to expand pension coverage in informal sector

The National Pension Commission has unveiled new measures to boost pension inclusion in Nigeria’s informal sector by partnering with super agents and fintech platforms to streamline enrollment into the revamped Personal Pension Plan. The disclosure was made at the 2025 Annual Conference of the Nigerian Association of Insurance and Pension Editors, themed “Strengthening Insurance and […]

News

PenCom unveils new framework for pension fund performance

The National Pension Commission has issued a directive introducing a standardized framework for calculating and reporting investment performance across pension portfolios. The circular, signed by A.M. Saleem, Head of the Surveillance Department, and addressed to all Licensed Pension Fund Operators, came into effect on July 1, 2025. It establishes a uniform methodology aimed at improving […]

Business

FG, NLC resolve pension fund dispute after PenCom meeting

The Federal Government and the Nigeria Labour Congress have successfully resolved a contentious dispute over workers’ pension funds, following a high-stakes meeting with the National Pension Commission on August 29, 2025. The resolution averts a threatened nationwide strike, signaling a significant step toward stabilizing Nigeria’s pension sector. The meeting, hosted by PENCOM Director-General Omolola Oloworaran, […]

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