FCMB Pensions Marks 20years, Disburses Over N200Bn To RSA Holders
FCMB Pensions Limited, a subsidiary of FCMB Group Plc, has lined up activities to mark its two decades of navigating Nigeria’s complex pension landscape.
The company was incorporated on April 7, 2005 and licenced by the National Pension Commission (PenCom), to carry on business as a Pension Fund Administrator (PFA) as defined under the Pension Reform Act, 2014.
TheFact Daily reports that even with the challenges of low retiree payouts and high inflation in the country, pension assets have grown to over N26 trillion, under the Contributory Pension Scheme (CPS).
Addressing journalists on Monday during a sensitisation walk as part of activities marking the 20-year anniversary of the PFA, the Managing Director/Chief Executive Officer of the FCMB Pensions, Christopher Bajowa disclosed that the company has disbursed over N200 billion in benefits payouts to both retirees and other types of beneficiaries that have Retirement Savings Accounts (RSA) with the company since inception.
Despite this huge disbursement, the MD said the company is not yet there, as efforts are geared towards deploying digital technologies to get close to the customers and also deliver service with speed and efficiency.
Bajowa also mentioned that the company would seize opportunities in Micro Pension which is currently the focus area of the regulator (PenCom) to deepen pension inclusion in the country.
“As you know, at this time, micro pension is the focus area for our regulator and it represents a big opportunity to grow inclusion in the pension industry. That is why we seize this opportunity to commence a walk and also promote pension and pension plans which we believe represent the next function in terms of growth in the pension industry,” he said.
The MD noted that the company takes feedback from the customers very seriously.
“We learn by their feedback, and the truth is that we do our best to serve our customers,” he said. On the 2026 target, Bajowa said “we want to grow our offerings to our customers by way of PPP that we are flagging off today.
“Outlook also in terms of investment returns, is very encouraging. We have done well in 2025 and we want to build on that, but most especially, we want the customers to be able to reach us through digital platforms, physical offices and through other platforms we may have that are really structured for them.”
The walk which started from the FCMB Pensions office at Central Business District (CBD) and terminated at the popular Wuse Market, was aimed at deepening pension and retirement awareness in the country.