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Pencom Approves Licence To Nigerian University Pension Management Company

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

This was contained in a statement signed by the commissions Head of Corporate Communications Department, Peter Aghahowa.

Aghahowa said that the approval was issued based on NUPEMCO’s compliance with the requirements, terms and conditions stipulated by the Commission.

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Meanwhile, the approval has 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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