Citizens Pensions secures license to operate as PFA

Citizens Pensions Limited has received regulatory approval to operate as a pension fund administrator in Nigeria, marking a step in the country’s pension industry.

In a statement made available to our correspondent by the firm on Thursday, the approval enables Citizens Pensions to provide pension management services under the Contributory Pension Scheme, offering retirement solutions to workers across various sectors.

According to the statement, the company aims to drive financial security for Nigerians by ensuring accessibility, transparency, and efficiency in pension administration.

Speaking on the development, the managing director of Citizens Pensions, Helen Da-Souza, said the company is committed to redefining retirement planning in Nigeria.

“Our commitment is to deliver pension solutions that are transparent, accessible, and truly life-changing so that every Nigerian can look forward to retirement with confidence,” she stated.

The chairman of Citizens Pensions, Chukwuka Onwuchekwa, also emphasised the company’s mission to provide long-term financial solutions.

“We are not just managing funds; we are creating pathways for Nigerians to build retirement savings while confidently navigating tomorrow,” he said.

It added that Citizens Pensions has also introduced micro pensions, an initiative aimed at providing retirement benefits to workers in the informal sector. With over 80 percent of Nigeria’s workforce outside the formal pension system, the company seeks to bridge the gap by offering flexible contribution plans and digital pension solutions.

As it prepares for full-scale operations, Citizens Pensions has assured customers of seamless pension management through technology-driven platforms, ensuring retirement planning for individuals and businesses alike.