The National Pension Commission (PenCom), on April 27, 2021, gave Pension Fund Administrators (PFAs) 12 months to increase their share capital from N1 billion to N5 billion.
The deadline ended on Wednesday, and there was no sign at the time of filing this report that PenCom would extend it.
Al
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Modestus Anaesoronye
Modestus Anaesoronye is a leading Nigerian financial journalist with over two decades of experience reporting on the insurance and pension sectors across Nigeria and West Africa. He has held key editorial positions at major national media outlets, including The Comet, The Nation, and Financial Standard, and currently serves as a Senior Financial Analyst at BusinessDay Media Ltd.
A widely travelled reporter, he has covered industry developments in more than 14 countries across Africa and Asia.
Anaesoronye is a multiple award-winning journalist, honoured several times as Insurance Journalist of the Year and Pension Journalist of the Year by recognised industry bodies, including PensionScope and the Pension Fund Operators Association of Nigeria (PenOp), among others.
