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4 May 2022

At Last, PFAs Scale Recapitalisation Hurdle, Raise Capital Base to N5bn

The National Pension Commission (PenCom) yesterday said all Pension Fund Administrators (PFAs) have complied with the commission’s directive to increase their Minimum Regulatory Capital (Shareholders’ Fund) from N1 billion to N5 billion as at April 27, 2022.

The National Pension Commission (PenCom) yesterday said all Pension Fund Administrators (PFAs) have complied with the commission’s directive to increase their Minimum Regulatory Capital (Shareholders’ Fund) from N1 billion to N5 billion as at April 27, 2022. The commission thereby assured stakeholders particularly the Retirement Savings Accounts (RSA) holders that with the conclusion of the recapitalisation exercise, they should expect increased effectiveness, efficiency as well as improved service delivery from PFAs. The announcement by PenCom appeared to have put paid to the consolidation exercise which began in the past year. - ThisDay Online