October 2026
07Oct

PenCom widens pension net to diaspora, self-employed Nigerians

The National Pension Commission has moved to expand participation in the Contributory Pension Scheme to Nigerians in the diaspora, self-employed persons and informal sector workers under its Pension 2.0 reforms. The Director-General of PenCom, Omolola Oloworaran, disclosed this on Tuesday at the commission’s 2026 Customer Service Week seminar themed “Extra Mile.” Oloworaran, represented by the Head of the Surveillance Department, Mr Abdulrahman Saleem, said the reforms were designed around innovation, inclusion and integrity while improving access to retirement savings. “Under Pension 2.0,...

October 7, 2026
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06Oct

Nigeria: Govt Begins Implementation of New Pension Rates, Payment of Arrears to Military Pensioners

The federal government has begun implementing the newly approved pension rates following the adjustment arising from the new National Minimum Wage. According to a statement by the Public Relations Officer of the Military Pensions Board, Squadron Leader Aliyu Mohammed, the applicable arrears had also been processed and will be paid into the accounts of all eligible pensioners with effect from October 2, 2026. The Board appreciated the patience, understanding and cooperation demonstrated by military pensioners throughout the implementation process. The military said...

October 6, 2026
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September 2026
30Sep

Pension funds urged to rescue Nigeria’s ailing healthcare system

With foreign funding for healthcare declining, pension funds and other domestic investors have been urged to put more money into Nigeria’s healthcare sector to help close the country’s growing financing gap. The call was made at a private markets and healthcare roundtable organised by HealthCap Africa in Lagos, where pension fund managers, regulators, development finance institutions, healthcare investors and operators examined ways to mobilise more private capital for healthcare. The meeting, with the theme ‘Healthcare as an Asset Class,’ identified pension...

September 30, 2026
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17Sep

90% of Nigerians lack formal pension coverage – Report

Nigeria’s pension coverage increased to 9.1 per cent of the adult population in 2026 from 7.8 per cent in 2023, leaving about nine in every 10 Nigerian adults without any formal pension arrangement, the latest Access to Financial Services in Nigeria survey has revealed. The 2026 A2F Survey by Enhancing Financial Innovation and Access showed that despite improvements in financial inclusion, pensions remained one of the least-used formal financial products in the country. Speaking at the official launch of the report...

September 17, 2026
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August 2026
25Aug

Nigeria. PenCom records 11.18 million pension registrations in Q1

The National Pension Commission has disclosed that cumulative Retirement Savings Account registrations under the Contributory Pension Scheme rose to 11,183,475 at the end of the first quarter of 2026. According to PenCom’s Q1 2026 report released on Monday, cumulative RSA registrations grew by 143,248 accounts during the three months, up from 11,040,227 recorded at the close of the fourth quarter of 2025. Highlighting the momentum in account openings during the period, the commission stated, “The quarterly cadence is materially stronger than...

August 25, 2026
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20Aug

Nigeria. Military pensioners protest in Abuja over benefit adjustments

Scores of retired military personnel on Wednesday protested in Abuja over the alleged non-implementation of consequential adjustments to their pensions following salary increases approved for serving military personnel. The pensioners gathered at an open field in Area 10, Garki, near the Ministry of Defence, carrying placards with various inscriptions urging the Federal Government to implement outstanding salary adjustments in their pensions. The protest triggered the deployment of security personnel, including soldiers, police and operatives of the Nigeria Security and Civil Defence...

August 20, 2026
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19Aug

Nigeria. Risk management must become the pension industry’s competitive advantage

Nigeria’s pension industry has earned its reputation as one of the nation’s most successful financial sector reforms. Since the introduction of the Contributory Pension Scheme (CPS) and the Pension Reform Act 2014, pension assets have grown steadily, millions of Nigerians have enrolled, and confidence in retirement savings has improved considerably. As the industry expands into an increasingly digital and uncertain world, merely complying with regulations is no longer sufficient. Risk management must evolve from a regulatory obligation into a...

August 19, 2026
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July 2026
15Jul

Nigeria pension assets jump 51% to $22.8 billion, regulator says

Nigeria's pension assets rose ​51% in two years to ‌31.48 trillion naira ($22.80 billion), while membership of the country's contributory pension scheme ​grew by nearly 1 ​million workers to 11.32 million, the ⁠National Pension Commission (PenCom) said on Tuesday. PenCom ​chief Omolola Oloworaran told reporters ​that assets under management increased from 20.79 trillion naira in July 2024, a rise ​attributed to stronger confidence in ​the pension system. A 758 billion naira bond ‌helped ⁠clear obligations dating back to 2007, benefiting 957,045...

July 15, 2026
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June 2026
29Jun

Nigeria. PenCom’s pension expansion drive targets nine million transport workers

The National Pension Commission (PenCom) has rolled out a fresh drive to extend pension coverage to about nine million transport workers under the Personal Pension Plan (PPP). The plan is expected to deepen financial inclusion and expand social security for the informal sector operators. The initiative, being developed in partnership with the National Union of Road Transport Workers (NURTW), is expected to increase retirement savings among workers in one of Nigeria’s largest informal-sector groups while creating a framework for structured financing of mass-transit vehicles...

June 29, 2026
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18Jun

Nigeria. Over 92% of personal pension savings accounts remain unfunded

Amidst efforts by the National Pension Commission, PenCom, to include informal sector workers in the pension scheme, the Personal Pension Plan, PPP, which caters to the informal sector, has remained stagnant. While the PPP has 215,412 registered Retirement Savings Accounts, RSAs, only 17,320 of these RSAs, which represents 8.0 per cent, have received contributions. The remaining 198,092 RSAs, which represent 92.0 per cent, are dormant. PenCom, in its fourth quarter 2025 report stated that registrations are not savings and registration without funding...

June 18, 2026
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