Nigerian pension asset under management surges 20% to $30bn

February 24, 2021

Nigerians withdraw nearly 50% pension contribution in last five years

Out of the annual average pension contribution of N699 billion, report revealed that withdrawals averaged about N341 billion in the same period.

Data from the Pension industry regulator, PenCom shows that the total assets under management (AUM) of the regulated pension industry increased by 20.3% y/y to NGN12.29trn (USD30.0bn) at the end of 2020. There was no noticeable movement in December. According to a report by analysts at FBNQues

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