The total pension Net Asset Value under the management of Pension Fund Administrators in the country as at December 2024 has hit N22.51trillion.

Banks’ Credits to Private Sector Rise to N76trn Credit to the Private Sector (CPS) surged by 27.3 per cent year-on-year to N75.96 trillion in November, Central Bank of Nigeria (CBN) economic report, has shown. The uptick in credit to key sectors of the economy has been...

Contributory Pension Assets Rise To N12.4trn       The total assets under the Contributory Pension Scheme rose to N12.4tn as of the end of April, according to the latest data obtained from the National Pension Commission on Wednesday. PenCom, in its unaudited report on the pension funds industry...

Lagos Govt Pays 358 Retirees Over N1bn Entitlements       The Director-General, Lagos State Pension Commission, Mr Babalola Obilana, has said the state government paid over N1bn to retirees in April. He disclosed this while delivering a speech at the retirement bond certificates presentation ceremony to the 84th...

PenCom Raises PFAs’ Shareholders Funds To N5bn       The National Pension Commission has ordered the Pension Funds Administrators to raise their shareholders’ funds from N1bn to N5bn. Some operators disclosed this to our correspondent on Thursday. According to the commission, the total number of workers with pension accounts...

Only 11% Of Workforce Is Enrolled In The Pension Scheme – PenOp         Despite the astronomical growth recorded in the pension fund, only 11 percent of workforce is enrolled in the Contributory Pension Scheme, CPS, and the micro pension schemes and this number needs to improve,...