Onigbogi: How PFAs Survived Recession

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Eromosele Abiodun

Head Business Development, ARM Pension Managers, Abisola Onigbogi has stated that investment in guaranteed return instruments not in variable instrument helped Pension Fund Administrators (PFAs) to survive the crushing recession that Nigeria is just getting out of.

Onigbogi made this known while speaking to journalists at the annual 5km run/walk tagged, ‘Run for the Future’ organised by ARM.

According to him, “Just like every other aspect of the economy the PFAs were not insulated from the recession however, unlike most other sectors we were a bit sanitised, our regulators are very strict about what we invest in. over time most of our monies are in guaranteed return instruments not in variable instrument.

“Largely we were insulated from most things, we have returned positive results even during the recession and as the economy gets better we will continue to ride the crest into a better future for our investors and retirees.”
He described the ARM ‘Run for the Future’ as a multi location, multi period event that the company organises across the country.

“It is designed to enjoin our clients and potential clients to look beyond existing contribution to life after contribution. We are telling them that there is no point putting the money together if you don’t have the life to enjoy it after you retire. So we want to encourage the culture of exercise, healthy living so that at retirement you still have a lot to go for. Its been something we have been doing regularly, this is the 5th edition. We have done it in Lagos, PortHarcut, Abuja and we have had a mini run in universities across the country.

“For our customers, they can see now that we are not just here to collect their money but to encourage them to live a healthy lifestyle. We have received a lot of positive feedback that is why we have invested a lot of money to make the event more meaningful to the customers. When we started about three years ago we had barely about three hundred participants. As at now we have over 4000 registered participants, “he said.
He encouraged pension contributors and pensioners in the country to embrace healthy living so as to enjoy what they have worked for.

He said the event, which is part of its Corporate Social Responsibility (CSR) seeks to promote health leaving among its clients and the Nigerian public.
He said beginning from this year the event will be holding in three major cities, Lagos, Abuja and Port Harcourt.

This year’s event in Lagos saw participants who were adorned in the PFA’s T-shirts ‘Run for the Future’ slogan walking/running from Ikoyi office of the firm to Lekki.
He explained that the 5km run/walk aimed at creating awareness amongst the general public on the importance of exercise and healthy living.