Joy Agwunobi
Parthian Pensions Limited has expressed full readiness to meet the new recapitalisation requirement set by the National Pension Commission (PenCom), pledging to conclude the process well ahead of the December 31, 2026 deadline.
The assurance was given during a media parley held at the firm’s Lagos office, where senior executives of the Pension Fund Administrator (PFA) outlined its strategic plans for growth, innovation, and inclusion within Nigeria’s pension landscape.
PenCom which recently raised the minimum capital requirement for Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs) to ₦20 billion and ₦25 billion respectively, mandating compliance before the end of 2026. The directive, part of a broader effort to strengthen Nigeria’s pension industry and align it with global standards, mirrors similar recapitalisation exercises across the banking and insurance sectors.
Speaking on the development, Femi Odukoya, managing director of Parthian Pensions, said the company welcomed the recapitalisation initiative, describing it as a necessary move to enhance the stability and competitiveness of the financial services industry.
“The directive from PenCom was expected, given the ongoing recapitalisation across other segments of the market. Before the December 2026 deadline, we would have completed ours,” Odukoya stated.
Beyond recapitalisation, Odukoya said Parthian Pensions was positioning itself to capture untapped opportunities in the informal and ethical investment markets. He disclosed that the firm was already developing tailored products to attract artisans, professionals, and small business owners into the contributory pension scheme (CPS).
“We are playing heavily in the informal sector and the ethical Fund VI space. The ethical market is a frontier that has not been tested at all. Few RSA contributors even know it exists, but that’s a space we are determined to explore aggressively,” he noted.
The managing director added that the company was also targeting the northern region, where ethical investment principles align strongly with cultural and religious preferences.
Odukoya emphasised that Parthian Pensions’ approach to expanding coverage in the informal sector involves strategic collaborations with trade and professional associations.
“We’ve adopted what we call the ‘hub approach,’ where we engage with associations, cooperative societies, and professional groups such as lawyers and artisans so they can begin to see pensions not as something distant or micro, but as an essential financial plan for their future,” he explained.
To attract younger Nigerians to the pension system, Odukoya highlighted the importance of presentation and communication.
“Packaging plays a big role. Look at brands like GTBank; the way they connect with young people through relatable experiences like food shows and lifestyle events keeps them relevant. In the same way, we’re rethinking how pensions are presented. It’s not just about retirement, it’s about securing your future today,” he said.
According to him, Parthian Pensions is leveraging technology and creativity to make pension participation more appealing and accessible to digital-savvy Nigerians.
“We’re rebranding pensions as something modern and engaging. We’re not short on innovation—our team is filled with young, creative professionals guided by seasoned experts who ensure balance between innovation and industry depth,” Odukoya added.
Also speaking at the session, Oluseye Olusoga, group managing director of Parthian Partners, the parent company of Parthian Pensions, reaffirmed the group’s long-term commitment to the pension industry. He said Parthian Pensions would be fully recapitalised ahead of schedule as a demonstration of confidence and commitment to Nigeria’s pension sector.
“We will capitalise the business well before the due date, possibly even beyond the minimum threshold. Our commitment is absolute, and we’re open to mergers and acquisitions if necessary. But fundamentally, our capitalisation will be driven internally within the group,” Olusoga stated.
He explained that the establishment of Parthian Pensions aligns with the group’s broader vision to support capital formation and economic development in Nigeria and across Africa.
“Parthian was created out of our belief in Nigeria’s potential. You can’t talk about capital formation or aggregation without including the pension and asset management industries. Now that the regulator has expanded investment windows, the industry has more flexibility to protect pensions against inflation and enhance long-term returns,” he said.
Olusoga stressed that the group’s focus goes beyond compliance or profit, centering instead on building capacity, creating employment, and investing in human capital.
“We are not extractors; we are investors—investors in Nigeria’s people, future, and growth. Our vision is to create world-class professionals who can compete anywhere in the world. Parthian Pensions is an avenue for that transformation,” he declared.
Both executives underscored that Parthian Pensions aims to become a transformative force in Nigeria’s pension industry,expanding financial inclusion, promoting ethical investments, and contributing to long-term national development through a resilient and well-capitalised institution.
