Parthian Pension Assures of Meeting  PenCom’s Recapitalisation Deadline 

Ebere Nwoji

Newly licensed Pension Fund Administrator, Parthian Pensions, has said it would definitely meet the fresh minimum recapitalisation requirement instituted in the pension sector by the National Pension Commission(PenCom) 

The company  disclosed this at a  media parley  in  its  office in Lagos.

PenCom last month (September) increased the minimum capital requirements of Pension Fund Administrators and Pension Fund Custodians to N20bn and N25bn, respectively, with a deadline of December 31, 2026, to meet the new capital requirements.

Speaking on the fate of his company in this regard,  Group Managing Director of Parthian Partners, parent company of Parthian Pensions, Oluseye Olusoga said the company would meet  the capitalisation due date. 

“We are fully committed to this industry, and if there are opportunities for mergers and acquisitions, we will consider all of them. But by and large, we’re very confident that we’ve made the capitalisation, and we would actually capitalise well beyond or well before the date by the regulator”, he assured.

Speaking further on the company’s readiness to meet the deadline Olusoga said .

“We’re committed to doing it way before the December 2026 deadline, and we’ll do that as a show of confidence to make sure that the market sees that we are 100 per cent committed to that, and that will probably come from internally, within the group.”

He added that the organisation’s commitment to the development of Nigeria motivated the establishment of Parthian Pensions. 

He said the organisation  believes that it was going to play a vital role in developing Nigeria and in developing Africa as a whole. 

According to him, part of this includes what  he call capital formation or capital aggregation, adding that one  can’t talk about capital formation and capital aggregation without considering whether it’s a pension industry or the asset management industry.

The Managing Director, Femi Odukoya, speaking on the recapitalisation process, said that the directive of PenCom was expected, given the ongoing recapitalisation in other segments of the financial services market.

“We are aware of how the banking sector is undergoing it. Naturally, everybody in financial services automatically knows that it’s coming to touch you very soon,” he said.