Africa\'s energy future is at a turning point. The newly established African Energy Bank aims to tackle the continent\'s energy poverty, reduce dependence on foreign capital, and drive sustainable development. Discover how this game-changing institution...
The Nigerian pension industry is increasingly embracing sustainability through the integration of Environmental, Social, and Governance (ESG) practices. With a growing focus on green investments, pension fund administrators (PFAs) are aligning their strategies...
Nearly two decades after the introduction of the Contributory Pension Scheme (CPS), the Nigerian pension industry has witnessed transformative changes. Despite these advancements, persistent concerns remain regarding the value of savings remitted by employers...
The Nigerian pension industry stands as a critical pillar in the nation\'s socio-economic landscape to ensure the financial security of millions of retired citizens. A key feature of the Nigerian Contributory Pension Scheme (“CPS”) that has aroused commendation...
Nigeria’s economic headwinds over the years have culminated in hyperinflation, macroeconomic variability, and instability in the exchange rate. As part of the approaches to tackle the economic instability bedevilling the country and bolster the country’s...
The development of Internet and Information and Communication Technology (ICT) has revolutionised the world and brought with them the emergence of online commerce. Trades are now concluded on the Internet between parties from different parts of the world....
On the 17th of April 2024, the firm of Anaje. Olumide. Oke. Akinkugbe (carrying on business as AO2LAW®) held a stakeholders’ webinar with the theme: “Pension Fund Administrators and Pension Fund Custodians: Rethinking the Strictures on Common Control”....
Nigeria’s pension system has undergone significant transformations since its inception in 1951. Initially plagued with malpractices, budgetary issues, weak administration, and a lack of accountability, the system has evolved into a defined contribution...
The protection of the minority shareholders within the domain of corporate activity constitutes one of the most difficult problems facing modern company law. It is not unusual to find majority shareholders running a company in an illegal or oppressive...
PENSION FUND ADMINISTRATORS AND PENSION FUND CUSTODIANS: RETHINKING THE STRICTURES ON COMMON CONTROL
The Pension regime in Nigeria under the Pension Reform Act 2014 (“PRA” or the “Act”) is structured in a such manner that it creates role bifurcation between Pension Fund Administrators (“PFAs”) and Pension Fund Custodians (“PFCs”). The roles are stratified...