Associate Director, Access ARM Pensions, Adaora Ude speaks on gender equality, advising on the structures companies should put in place to maximise female potential for growth sustenance. She also speaks on the pension industry and how her firm is prioritising customer-centric solutions that help contributors plan for a secure and comfortable retirement. Nume Ekeghe brings the excerpts.

As a senior executive in a traditionally male-dominated space, what challenges have you faced, and how have you navigated them?

One of the biggest challenges has been the consistent effort to remain seen and heard while keeping the doors open for other capable women to step in. It means ensuring that my voice is present in critical conversations and continuously reminding myself that my opinions are valid. In male-dominated spaces, women often feel the need to prove themselves repeatedly, even when they possess equal or greater expertise than their counterparts.
However, I am fortunate to work in an organisation where women are seen, empowered, and given opportunities to showcase their skills. Gender equality, particularly in leadership roles, is something we actively embrace, fostering a balanced and inclusive work environment.
To navigate challenges, I focus on delivering consistently while building strong professional relationships. There are allies in the workplace, including men, you just have to seek them out, earn their trust, and demonstrate your value through action rather than words. I also prioritize mentoring and coaching other women within and beyond my industry because, at some point, someone did the same for me. It’s essential to guide others on their journey, we don’t all have to make the same mistakes on our way up.

Women in leadership often deal with biases, both conscious and unconscious. What has been your experience, and what strategies have helped you succeed?

Absolutely, bias exists. Sometimes it’s subtle, and other times it’s blatant. From being spoken over in meetings to the assumption that women should naturally take on more “supportive” roles rather than leadership positions, I’ve encountered my fair share.
What has helped me is assertiveness and preparedness. I’ve learned to believe in my capabilities, though it took time and is still a work in progress. Overcoming imposter syndrome is crucial, and sometimes, all it takes is a mentor, coach, or supportive colleague to reaffirm your abilities. I’ve made it a priority to speak with confidence, give 101% to every task, and ensure that my contributions add real value to the organisation.
I also believe organizations must actively challenge these biases by implementing mentorship programs, unbiased promotion policies, and leadership training that prioritizes inclusion. Creating these structures isn’t just the right thing to do, it’s essential for long-term growth and innovation.

What policies or corporate cultures do you think are essential to ensuring more women rise to executive roles in financial services?

Gender equality in the workplace is not limited to the financial services sector—it is a priority across all industries. Organisations must be intentional about implementing policies that not only support gender equality but also address the unique challenges women face daily. One effective approach is establishing mentorship programs tailored specifically for women, helping them navigate career pipelines and advance into leadership roles.
Accountability is another critical factor. When organisations actively hold leaders responsible for fostering diversity within their teams, they can measure progress and track tangible results. Creating an environment where women can rise to executive positions requires deliberate policies and an inclusive culture. A key aspect of this is encouraging open communication, one that is built on empathy and mutual respect across all genders.
Many women juggle both career and family responsibilities, and companies that embrace workplace flexibility, whether through remote work options, hybrid schedules, or family-friendly policies, are more likely to retain top female talent.

Beyond mentorship, sponsorship plays a crucial role. Women need more than just guidance; they need advocates in leadership circles who actively champion their career growth, recommend them for key opportunities, and help remove barriers that could limit their advancement. Without deliberate sponsorship, many qualified women are often overlooked for leadership roles.
Finally, organisations must ensure bias-free promotions and pay equity. Career progression and compensation should be based strictly on performance, capability, and merit, not unconscious gender biases. Companies that commit to transparent evaluation processes create a fairer system where women have an equal opportunity to lead.

At Access ARM Pensions, we continue to foster a culture where talent thrives regardless of gender, ensuring that women are not just present but empowered in executive roles. While there is still progress to be made, both in Nigeria and globally, we have come a long way from where we were 30 or 40 years ago. The key is to keep pushing forward.
A recent McKinsey article highlights that women remain ambitious and committed to their careers. Now, it’s up to companies and organisations to match that ambition by staying committed to the important work they’ve started.

How would you assess the current state of Nigeria’s pension industry, and what key trends do you see shaping its future?

Nigeria’s pension industry has made significant progress since the introduction of the Contributory Pension Scheme (CPS). Participation has increased, governance structures have improved, and assets under management have continued to grow. However, there is still considerable room for expansion, particularly in extending pension coverage to the informal sector, where a large percentage of the workforce remains without structured retirement savings.

Several key trends are shaping the future of the industry. One of the most notable is the increasing role of technology in pension administration, as digitalization continues to make pension management more accessible and efficient. More Pension Fund Administrators (PFAs) are leveraging technology to enhance customer experience, streamline operations, and improve service delivery.

Additionally, investment diversification is becoming increasingly important as Pension Fund Administrators (PFAs) seek new asset classes to ensure sustainable returns, especially in the face of economic uncertainties such as inflation and exchange rate volatility. With the right regulatory frameworks and strategic investments, the industry is poised for continued growth and greater financial security for retirees in the years to come
The micro-pension scheme was introduced to expand coverage, especially for informal sector workers. How successful has it been, and what are your firm’s plans to drive adoption?

The micro-pension scheme was introduced as a transformational initiative to expand pension coverage to informal sector workers, ensuring that more Nigerians have access to retirement savings. However, adoption has been slower than expected, largely due to low awareness, trust issues, and income unpredictability among informal workers.

The Nigerian informal sector is very dynamic; in that bucket are several segments and personas who cannot all be served in the same manner. The channels of communications are different, the way you define the product is different from one segment to another within the same sector.

As an industry, there is the need to revise and restructure the informal sector pension product in a way that the value to the target market is undeniable and clear. Many of the people in this sector still do not see pensions as a priority, often focusing on immediate financial needs rather than long-term security. For the micro-pensions product to reach its full potential, there is a need to demonstrate value, create awareness and incentives while relaxing several restrictions that might be limiting the participation of the prospective subscribers.

There is a need for greater awareness and education. Informal sector workers must understand how micro-pensions work, the long-term benefits, and consistent contributions overtime can secure their future. Additionally, seamless onboarding processes are essential to encourage sign-ups. The easier and more accessible the registration process, the higher the likelihood of adoption.

At Access ARM Pensions, we are actively working to increase micro-pension adoption through targeted awareness campaigns, digital solutions, and simplified contribution processes. Working with the National Pension Commission, making the system more accessible and user-friendly, we are focused on helping more Nigerians secure their financial future through pensions.

The pension-backed mortgage scheme has generated interest among contributors. How has your PFA implemented this offering, and what has been the uptake so far?

The pension-backed mortgage scheme has created a new pathway to homeownership, allowing contributors to leverage their pension savings to secure a mortgage. This initiative has generated significant interest, as it offers a practical solution to one of the biggest financial challenges many Nigerians face, owning a home.

At Access ARM Pensions, we have taken proactive steps to ensure contributors can fully benefit from this offering. We have educated contributors about the eligibility requirements and process, helping them understand how they can use a portion of their pension savings to finance home purchases. Additionally, we have simplified the application process, removing unnecessary complexities to make it more accessible. Recognizing the importance of collaboration, we have also leveraged on partnerships within and beyond our ecosystem to streamline requirements and ensure seamless approval processes for our contributors.

While uptake has been steadily increasing, many contributors are still unaware of the full benefits and procedures involved in the pension-backed mortgage scheme. More awareness is needed to ensure that eligible contributors understand how they can take advantage of this opportunity to achieve homeownership while maintaining long-term financial security.

Transparency and accountability are key in pension fund management. How is your PFA ensuring contributors have confidence in how their funds are handled?

Transparency and accountability are the foundation of trust in pension fund management, and at Access ARM Pensions, we take these principles very seriously. Contributors need to be confident that their retirement savings are being managed responsibly, with clear oversight and a commitment to long-term financial security. One of the ways we ensure this trust is through regular portfolio updates, providing contributors with timely statements and fund performance reports so they can track the growth of their savings. We also maintain clear and structured investment policies, ensuring that every investment decision is made with the goal of protecting and growing contributors’ funds while balancing risk and return.

Additionally, we operate under a strong governance framework, with rigorous risk management and compliance processes that prioritize the safety of pension assets. Every decision is guided by industry best practices and regulatory standards, reinforcing our commitment to safeguarding contributors’ funds.

Ultimately, pension savings belong to the contributors, and our role is to manage them responsibly, transparently, and securely, ensuring financial peace of mind for retirement.

Following the merger between Access Pensions and ARM Pensions in October 2024, how has the transition been for contributors, and what can they expect moving forward?

Since the merger between Access Pensions and ARM Pensions in October 2024, our focus has been on ensuring a smooth transition for all contributors while enhancing the overall pension experience. While integration processes naturally come with adjustments, we have worked diligently to minimize disruptions, ensuring that pension accounts, contributions, and withdrawals remain accessible.

One of the key benefits of this merger is stronger investment capabilities. With a larger asset base, we are able to explore more diversified, high-yield investment opportunities, ensuring sustainable long-term returns for our contributors. This is especially important in today’s evolving economic climate, where strategic investment decisions are critical to preserving and growing pension funds.

Contributors can also expect enhanced customer service and better digital engagement. We are leveraging technology to streamline processes, improve response time, and offer more convenient self-service options. Our goal is to make pension management easier and more transparent, allowing contributors to track their savings, access support, and make informed retirement decisions with ease.

Looking ahead, we remain committed to delivering greater value, financial security, and innovation. The merger has positioned us as a stronger institution, and we will continue to prioritise customer-centric solutions that help contributors plan for a secure and comfortable retirement.

 

 

 

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