Category: Insurance & Pension

The Pensions multiple Bills before the National Assembly will depletes N6.5trn funds says PenCom

Pension funds which currently stood at N6.5 trillion is faced with a major threat of depletion due to the multiple Bills sponsored by some persons and bodies at the National Assembly if becomes law.   These were the words of the pension regulator, The National Pension Commission (PenCom) and the umbrella body of pension operators,…

PenCom urged to implement Transfer Window

  Company Secretary, NPF Pensions Limited, Ikechukwu Utazi (left); Managing Director, FUG Pensions, Usman Sulaiman; Head, Research and Corporate Strategy Department, National Pension Commission (PenCom), Dr Farouk Aminu; Chairman, Pension Funds Operators Association of Nigeria (PenOp), Eguarekhide Longe; Executive Secretary, PenOp, Susan Oranye; Executive Director, Investment, NPF Pensions, Nicholas Nnaji and Managing Director, AXAMansad Pension,…

How risk, others cost local airlines N10b insurance premium yearly

With a total of 46 functional aircraft in local operations as at today, the airlines pay over N5 billion in fleet insurance yearly, with another N5billion on passenger coverage for about 10 million annual traffic. • Air Peace, Arik among highest payers globally The volatile nature of the air travel business environment in the country…

PFAs increase pension funds in infrastructure to N4.2bn from N1.82bn

The Pension Fund Administrators in the interest of generality called has finally increased the amount of funds invested in infrastructure under the Contributory Pension Scheme to N4.2 billion.Some operators disclosed that investors had continued to mount pressure on them to part with the funds in their custody into infrastructure.   According to the figures obtained…

OAK Pensions grows profit by 76.8%

AK Pensions Limited (Pension Fund Administrator)’s profit rose by 76.8 per cent from N130.57m in the 2015 financial period to N230.88m in 2016. The Chairman, OAK Pensions, Dr. Awa Ibraheem, disclosed this in its annual report that he presented during the company’s 11th Annual General Meeting in Lagos. He also said that the company was…