financial News

Socio-Economic Rights and Accountability Project, (SERAP) has welcomed Senate President Dr Bukola Saraki’s move to “stop receiving pensions from Kwara state, where he was the governor between 2003 and 2011, and urges him to join us in the campaign to end the unjust, unfair and discriminatory practice of providing life pensions to former governors and to abolish laws that make this possible.” Saraki told the News Agency of Nigeria (NAN) Forum in Abuja yesterday, that he wrote a letter to the state government to stop the payment of the pension “the moment I saw that SERAP allegation.” He said, “No,…
…Appoints Yakubu as Chairman Premium Pension Limited has paid retirement benefits to the tune of about N119 billion since inception, the company has said. Accordingly, the company now manages about 738,736 Retirement Savings Accounts (RSAs) and 46, 941 retirees while having pension Assets Under Management (AUM) in excess of N460 billion. Meanwhile, the recently held Annual General Meeting of the company saw the ratification of the appointment of Architect Yunusa Yakubu as the Chairman of the company’s Board of Directors. He was until his appointment the Chairman of the Board’s Committee on Strategic Growth. He takes over from Mr. Aliyu…
Sigma Pensions Limited has unveiled a new corporate identity even as it targets to increase its asset under management to N600 billion in the next couple of years from N310 billion it currently manages. The Managing Director/Chief Executive Officer of Sigma Pensions Limited, Mr. Dave Uduanu, gave the projection at the rebranding and unveiling of the company’s new corporate logo in Abuja. Sigma Pensions is one of the first set of seven PFAs licensed by the National Pension Commission (PENCOM) in 2005 and one of the operators to commence the implementation of the PRA 2004. “Sigma Pensions has since grown…
A total of 96,346 workers joined the contributory pension scheme in the second quarter of this year, bringing the total number of enrollees to 7,589,936. The retirement savings account (RSA) membership distribution data for Q2 2017 released recently by the National Bureau of Statistics (NBS) revealed that the current RSA membership in Nigeria is 10.93 per cent of the 69,470,901 working population in the country. This showed that 61,880,965 workers are currently not enrolled on the contributory pension scheme. “This is not surprising given the largely informal structure of the Nigerian labour force with about 50 per cent of the…
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