Pension

PenCom grants licence to Nigerian University Pension Management Company

Acting Director General, National Pension Commission, Hajia Aisha Dahir-Umar (5th from left) handing over licence to the delegation.

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Chuks Udo Okonta

The National Pension Commission (PenCom) has approved the issuance of a licence to Nigerian University Pension Management Company Limited (NUPEMCO) to carry out the business of a Pension Fund Administrator (PFA).

A statement by Head, Corporate Communications Department, PenCom, Peter Aghahowa, noted that the approval is consequent upon a detailed evaluation of NUPEMCO’s compliance with the requirements, terms and conditions stipulated by the Commission.

According to PenCom, the approval granted to NUPEMCO increased the number of pension fund operators to 32, consisting, 22 Pension Fund Administrators (PFAs); six Closed Pension Fund Administrators (CPFAs) and four Pension Fund Custodians (PFCs).

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