Newly licensed Pension Fund Administrator, Parthian Pensions has expressed confidence in meeting the fresh minimum recapitalisation requirement imposed by the National Pension Commission.
This was disclosed at the media parley organised by the PFA at its Lagos office.
In September, the National Pension Commission 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.
The Group Managing Director of Parthian Partners, Oluseye Olusoga, the parent company of Parthian Pensions, said, “We would actually capitalise the business way beyond 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.
“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.”
Olusoga added that the organisation’s commitment to the development of Nigeria motivated the establishment of Parthian Pensions. “We truly believe that Parthian is going to play a vital role in developing Nigeria and in developing Africa as a whole. And part of this includes what I call capital formation or capital aggregation, and I do think that you can’t talk about capital formation and capital aggregation without whether it’s a pension industry or the asset management industry, and I think that there’s no better time to join the pension industry than now, particularly with the fact that the regulator has softened some of the rules around it in terms of what can be invested in, giving the pension industry a lot more to do and to be able to protect people’s pensions from inflation and get a lot of value because now you have a wider range of products to invest in.
“It shows our commitment to Nigeria in terms of creating new jobs, investing in people, investing in the country, and investing in the financial services space. We are not extractors. We are investors. Investors in Nigeria’s future, investors in Nigeria’s growth, investors in Nigeria’s people. And for us to do what it is that we are trying to do, it requires a lot of talent and investment in people in the sense that we are trying to create world-class people who can compete anywhere in the world to do the job or do the things that they currently do. And I think that’s one of the great things about Parthian Pension: it creates opportunities for Nigerians, or Nigeria, and we plan to be at the forefront of development over the next couple of years and decades to come.”
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.
Reassuring the market, Odukoya maintained that before the December 2026 deadline, “We will have completed ours.”
The MD also noted that the company would be playing heavily in the informal sector and ethical fund VI and would create products tailored to encourage young Nigerians to join the contributory pension scheme.
On the ethical market, the Parthian Pensions MD said, “We have what we call the ethical market, a market that has not been tested at all. Ethical market – that’s Fund VI, and few RSA contributors know of this. So it’s a place where we have to play very hard, and that’s another space.”
He added that the company was targeting the northern markets, especially as it regards the ethical fund.
Parthian Pensions highlighted the large market in the informal sector and Nigeria’s youthful population, with Odukoya saying that the firm had set up engagements with trade groups and professional associations.
“On the personal pension plan, we are already creating relationships with the associations. We call it the hub approach, kind of where you’ll be speaking to a lot of people using the associations, corporate societies, professional groups, and lawyers so that they can now see it not as a micro thing but as an important plan for them. Ultimately, a lot of them don’t know that this exists,” he said.
On encouraging younger Nigerians to join the CPS, Odukoya said, “When you talk about young people, you realise that packaging plays a big role. The way a product or service is presented determines how attractive it is. For example, look at GTB, the way they package their services. They organise events like food shows that appeal to young people and keep their brand relevant. In the same way, we’re rethinking how we ‘package’ pensions, presenting them in ways that resonate with the younger generation.
“We’re removing that old perception that pensions are only about old age. It’s not just about retirement anymore; it’s about securing your future now. Thankfully, we have a very responsive and forward-thinking regulator. Over the past year, several new regulations have been introduced to make the pension space more dynamic and flexible. So, our goal is to package pensions in a way that’s modern, engaging, and attractive to today’s audience.
“We’re also leveraging technology to connect with our younger audience. Many of them are already using our digital platforms, and we want to ensure they can take full advantage of all our tech-driven solutions. We’re not lacking in innovation; our team is made up of young, creative individuals guided by experienced leaders who bring depth and expertise to the table.”