The National Pension Commission (PenCom) has issued license to a new Pension Fund Administrator (PFA).
The PFA is named the Nigerian University Pension Management Company Limited (NUPEMCO).
NUPEMCO, according to PenCom, will operate like a Pension Fund Administrator (PFA).
A statement made available to newsmen read: “PenCom has approved the issuance of a licence to Nigerian University Pension Management Company Limited (NUPEMCO) to carry out the business of a Pension Fund Administrator (PFA).
“This approval is consequent upon a detailed evaluation of NUPEMCO’s compliance with the requirements, terms and conditions stipulated by the Commission.”
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