PenOp tackles unhealthy competition with code of ethics



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Chuks Udo Okonta

The President, Pension Fund Operators Association of Nigeria (PenOp), Eguarekhide Longe, said the association would soon instil code of ethics to stem unhealthy competition amongst members.

He disclosed this in an interview, stating that the association wants to wipe out unhealthy competition, improve service delivery and functional skills of members.

He said one of the items on the agenda of the association for the foreseeable future – 2015 to 2017, is to instil the code of ethics.

“We want to wipe out unhealthy competition, improve service delivery and improve the functional skills of our operators. As a self regulatory organisation, you find out incidence of fraud is almost non-existence in this industry. So, I think it is more of the rules of engagement as far as competitions amongst the operators are concerned, that is where the real work is as far as self regulating activities are,” he said.

Longe noted that his desire is to increase the size of the pension industry; make impact on the society and improve service delivery. He said the operators need a lot more cohesion among themselves and the regulators.


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