PFA Confident of Meeting ₦20bn Capital Mandate

Parthian Pensions Limited has expressed confidence that it will meet the new minimum capital requirement set by the National Pension Commission (PenCom) for Pension Fund Administrators (PFAs) well ahead of the December 2026 deadline.

The Managing Director of Parthian Pensions, Femi Odukoya, and the Group Managing Director of its parent company, Parthian Partners, Oluseye Olusoga, disclosed this during a media parley at the firm’s Lagos office.

PenCom, in a circular issued in September 2025, raised the minimum capital for PFAs to ₦20 billion and for Pension Fund Custodians (PFCs) to ₦25 billion. The recapitalisation exercise is to be completed by 31 December 2026 to strengthen the pension industry’s financial soundness and safeguard contributors’ assets.

Olusoga said the company intends to exceed the required capital base far ahead of schedule, stressing that the group’s financial capacity and long-term commitment to Nigeria’s pension industry remain strong.

“We would actually capitalise the business way beyond the capitalisation due date,” he said. “We’re fully committed to this industry, and if there are opportunities for mergers or acquisitions, we will consider them. But by and large, we’re very confident that we’ve met the capitalisation target and will do so well before the regulator’s deadline.”

Odukoya explained that Parthian Pensions had anticipated PenCom’s directive given similar recapitalisation drives in the banking and insurance sectors. He said the company had already begun internal processes to strengthen its balance sheet and reinforce investor confidence.

“We are aware of how the banking sector is undergoing it. Naturally, everybody in financial services knows it’s coming to touch you very soon,” he said, assuring that the PFA will conclude its recapitalisation before December 2026.

Olusoga emphasised that the establishment of Parthian Pensions reflects the group’s broader goal of contributing to Nigeria’s economic development by promoting capital formation and creating investment opportunities.

“We truly believe that Parthian is going to play a vital role in developing Nigeria and Africa as a whole,” he said. “It shows our commitment to creating new jobs, investing in people, and building world-class professionals who can compete globally.”

Odukoya added that the company will also focus on expanding pension participation among young Nigerians and the informal sector. He noted plans to promote the ethical Fund VI segment, which targets contributors seeking investments compliant with ethical or faith-based principles, particularly in northern markets.

PenCom’s recapitalisation directive marks the first major increase in the pension sector’s capital base since 2011, a move analysts say mirrors the Central Bank’s recapitalisation of banks aimed at improving resilience and governance within Nigeria’s financial system.