FCMB Pensions aims for N1.2tn assets by focusing on informal sector
FCMB Pensions, a subsidiary of FCMB Group Plc, is ramping up efforts to attract informal sector workers as it targets N1.2tn in assets under management by the end of December 2025. The company, led by Managing Director Christopher Bajowa, highlighted the importance of pension inclusion and the challenges posed by macroeconomic pressures. At its 20th Anniversary event in Abuja, industry leaders praised the firm's growth and resilience over the past two decades. FCMB Pensions has already surpassed N1tn in assets and paid over N200bn to retirees and beneficiaries.
TLDR
- Christopher Bajowa announced plans to reach N1.2tn in managed assets by December 2025, focusing on informal sector workers.
- The Personal Pension Plan is seen as the next major growth driver, but inclusion remains a significant challenge.
- Macroeconomic issues like currency instability are affecting long-term savings, with efforts underway to hedge against devaluation.
- FCMB Pensions has paid more than N200bn to retirees and beneficiaries, showing resilience despite industry challenges.
- Former leaders, including Bello Maccido and Maheer Rasheed, credited strong governance and trust for the firm's rapid asset growth since the Pension Reform Act of 2004.
