Pension Fund Custodians (PFCs) shall only take instructions from licensed Pension Fund Administrators (PFAs) on the investment and management of pension fund assets held in their custody, on behalf of the Contributors.
The PFCs in discharging their contractual functions to PFAs, shall not contract out the custody of pension fund assets to third parties, except for allowable investments made outside Nigeria, The PFC shall obtain prior approval from the Commission before engaging a global Custodian for such allowable foreign investments.
