Nigeria. Pension contributors cross 10m mark 19 years after sector reform

The nation’s pension industry has achieved a milestone of over 10 million registered contributors as at June 2023, 19 years after the reform of the sector. Pension fund assets also hit a record N16.76 trillion in the same month, growing by 4.1 percent from N16.10 trillion in May 2023. Michael Oyebola, an analyst at Money Counselors, while reviewing the performance of the pension industry at the end of June, described it as a significant achievement. “In a significant achievement for the Nigerian...