Chief Executive Officer, Pension Fund Operators Association of Nigeria, Oguche Agudah, said on Friday that eight out of the 20 pension fund administrators in the country have scaled the recapitalisation hurdle of raising their capital from N1bn to N5bn.
During a virtual event, tagged ‘Beyond capital – Recapitalisation strategy workshop’, which was organised by PenOp, Agudah noted that the N5bn capital requirement was introduced by the National Pension Commission in April.
He said other operators were making efforts to also achieve the capital requirement, adding the recapitalisation would help to strengthen the industry’s operations.
– Punch