Nigeria's No. 1 pension information website

As Pension assets hit N13trn, PenCom is determined to eradicate fraud in the pension industry


The problems of fraud and mismanagement in the Nigerian pension sector, according to the PenCom DG, were among the reasons for the Federal Government’s 2004 pension reform.

According to her, the Pension Reform Act of 2004, which was then reviewed and re-enacted in 2014, established legislative and institutional frameworks targeted at eliminating the rot that plagued pension administration prior to reform.

PenCom was established under the Act to govern and oversee all pension concerns in Nigeria, including the licensing of Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs). The PRA 2014 also established the Pension Transitional Arrangements Directorate (PTAD) to administer the Defined Benefits Scheme (DBS) for pensioners who are exempt from the Contributory Pension Scheme in a transparent way (CPS). According to Dahir-Umar, these actions “significantly restored credibility and confidence in Nigeria’s pension systems.”

She stated that PenCom has consistently conducted public education, enlightenment, and awareness campaigns on the CPS and other pension matters, in accordance with its statutory mandate under Section 23(f) of the PRA 2014, and that it has also developed and established structures, systems, and procedures that ensure transparency, accountability, and efficiency in the administration of pension in Niger.

According to her, these processes and procedures have served as models for other African countries, with many of them visiting the Commission for study tours.

The DG also hinted that the National Pension Commission (PenCom) has accumulated pension assets in excess of N13 trillion, which have been invested in various aspects of the economy, in her goodwill message at the sensitization programme on “Eradication of Pension Fraud in Nigeria,” held in Abuja in partnership with the Economic and Financial Crimes Commission (EFCC).


0 thoughts on “As Pension assets hit N13trn, PenCom is determined to eradicate fraud in the pension industry

  1. Hi there! I know this is somewhat off topic but I was wondering if you knew where I could locate a captcha plugin for my comment form? I’m using the same blog platform as yours and I’m having difficulty finding one? Thanks a lot!

  2. With every thing that seems to be developing inside this particular subject material, a significant percentage of opinions tend to be quite radical. However, I am sorry, because I can not subscribe to your entire strategy, all be it stimulating none the less. It appears to everybody that your comments are generally not completely justified and in actuality you are yourself not wholly certain of your assertion. In any event I did enjoy reading it.

  3. Great blog post. What I would like to make contributions about is that pc memory ought to be purchased should your computer still cannot cope with what you do along with it. One can add two RAM memory boards of 1GB each, for instance, but not certainly one of 1GB and one of 2GB. One should make sure the company’s documentation for own PC to ensure what type of storage is required.

  4. Have you ever thought about adding a little bit more than just your articles? I mean, what you say is important and all. However think about if you added some great photos or videos to give your posts more, “pop”! Your content is excellent but with pics and video clips, this website could certainly be one of the most beneficial in its field. Wonderful blog!

  5. Just desire to say your article is as astounding. The clarity in your post is just cool and that i could suppose you’re a professional in this subject. Well with your permission allow me to grab your feed to keep up to date with imminent post. Thank you one million and please continue the rewarding work.

  6. I discovered your weblog site on google and test a few of your early posts. Proceed to keep up the superb operate. I just further up your RSS feed to my MSN News Reader. Seeking forward to reading extra from you in a while!?

  7. I cherished up to you will receive carried out right here. The cartoon is attractive, your authored subject matter stylish. however, you command get bought an edginess over that you would like be turning in the following. unwell certainly come further before once more as exactly the similar nearly very ceaselessly inside of case you protect this hike.

Leave a Reply

Your email address will not be published. Required fields are marked *

Need help?
Pension Talk
Thank you for visiting .
How may we help you?