Pension Fund CustodiansPension Operators

Pension Fund Custodians (PFCs)

Pension Fund Custodians (PFCs) are responsible for keeping safe custody of pension assets on trust on behalf of contributors. The main functions of PFCs are to receive pension contributions on behalf of PFAs; settle transactions and undertake activities relating to the administration of pension fund investments on behalf of PFAs and to notify the PFA within 24 hours of the receipt of pension contributions from employers.

PenCom considers applications for license to operate as a PFC from entities that fulfil the requirements as enshrined in Section 62 of the PRA 2014. The applicant company must be wholly owned by a licensed financial institution with specified net worth as may be determined by PenCom from time to time. In addition, the parent company must issue a guarantee to the full value of pension assets held by the PFC.

Every Pension Fund Administrator (PFA) has an account with a Pension Fund Custodian (PFC), its that account that the PFA advises employers to pay their employees’ pension contributions into for subsequent transfer into your Retirement Savings Account (RSA). As an RSA holder, you have no business with the PFC, if you have any issue with your RSA, you are to contact your Pension Fund Administrator (PFA).

Below are the Pension Fund Custodians (PFCs) in Nigeria.

First Pension Custodian Nigeria Limited
MANAGING DIRECTOR: OLORUNTIMILEHIN GEORGE
Official Address: 6 Maduike Street, Off Raymond Njoku, Ikoyi, Lagos
Abuja Liason Office: 3rd Floor, First Bank of Nigeria Building, No. 2, Plot 451, Jos street, area 3, Garki
Phone: Abuja (+234812648474) +234 80 234 077 76, Lagos (+234-1 277 2800, +234 – 277 7801)
Email: info@firstpensioncustodian.com
Website: www.firstpensioncustodian.com

UBA Pensions Custodian Limited
MANAGING DIRECTOR: BLESSING OGWU
Official Address: 3rd and 4th Floors, Plot 22B, Idowu Taylor Street, Victoria Island, Lagos.
Abuja Liaison Office: 2nd Floor, UBA House, 18, Adetokunbo Ademola Crescent, Wuse II, Abuja
Phone: +234 – 1 – 2718000-4, +234 – 8113954275
Email: ubapensions@ubagroup.com
Website: https://www.ubapensions.com

Zenith Pensions Custodian Limited
MANAGING DIRECTOR: PETERS IFEANYI ELEDU
Official Address: Civic Towers (4th & 5th Floors) Ozumba Mbadiwe Road Victoria Island, Lagos
Phone: +234 – 1 – 2712793, +234 – 1 – 2712794, +234 – 1 – 2782906-20
Email: enquiry@zenithcustodian.com
Website: www.zenithcustodian.com

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