FCMB Pensions Pays N200bn to Retirees, Drives Personal Pension Plan as AUM Hits N1.1tn

James Emejo in Abuja

Managing Director/Chief Executive, First City Monument Bank (FCMB) Pensions Limited, Mr. Christopher Bajowa, yesterday disclosed that the company has so far disbursed over N200 billion to retirees and other beneficiaries’

He also said the company’s Assets Under Management (AUM) had increased to over N1.1 trillion.Speaking at the commencement of a road walk to Wuse Market, Abuja in commemoration of its 20th anniversary celebrations, he said the Pension Fund Administrator (PFA) remained a “strong institution, making meaningful impact in the communities we serve”.

He said a decade ago, the company embarked on a vision grounded in passion, innovation, and the belief to make a meaningful difference.

He said, “What started as a small team with big dreams has grown into a strong, dynamic, and respected force in our industry. We did not arrive here by chance; we arrived here because of you—our staff, both past and present—whose hard work, creativity, and commitment have built the foundation on which we stand today.”

Bajowa told THISDAY, “We have been in operation for well over 20 years now. It is a thing of pride how we have grown and how we have been able to promote pension operations within the industry.

“As you know, at this time, micro-pension is a key focus area for our regulator and represents a big opportunity to grow inclusion in the pension industry. That is why we have seized this opportunity to commence a roadmap, embark on road walks, and promote the Personal Pension Plan, which we believe represents the next frontier in terms of growth for the pension industry, particularly in terms of inclusion.”

He urged Nigerians to take advantage of the reforms in the pension industry to secure their future after work.

He said the PPP, “represents a good way to save for the future. The truth is that the message here is that the pension space has been revamped, and everybody can be a beneficiary of pension products—whether you are an artisan, self-employed, an employee, or a worker in a very small organisation. What this offers is an opportunity for everyone to save for the future and for retirement.”

The FCMB Pensions MD said the road walk aimed to reinforce its commitment to healthy living, “reminding us that our people—our staff—are our greatest asset, and that wellbeing must always come first.

“It provides a platform to create awareness about the Personal Pension Plan (PPP), helping traders, artisans, and self-employed individuals understand that retirement planning is not only for salaried workers, but for everyone.

“It allows us to connect directly with the communities we serve, strengthening trust, visibility, and our role as a responsible corporate citizen.”

He said the PFA had been guided by core values of excellence, purpose, innovation, and customer focus.

He said, “As we reflect on our journey, we remember the challenges we faced, the lessons we learned, and the countless victories we achieved together. Every project completed, every client served, and every improvement made has contributed to our growth and success. Behind each of these achievements stands a team of dedicated people who consistently give their best.