Closed Pension Fund Administrators

CLOSED PENSION FUND ADMINISTRATOR (CPFA)

Pension schemes in the private sector existing prior to the introduction of the Contributory Pension Scheme (CPS) in June, 2004 were allowed to continue as CPFAs, subject to guidelines issued by PenCom. The companies are required to have operated a fully funded existing pension scheme with assets of at least N500 million. A condition precedent on the issuance of a CPFA license is that the company must possess the requisite capacity for the management of pension fund assets and show that it had managed its pension scheme effectively for at least five (5) years prior to the commencement of the CPS.

 

The CPFAs operate mostly as Defined Benefits Schemes with a guarantee from the sponsor companies over any funding deficit. The Pension Reform Act, 2014 has foreclosed new entrants into the CPFAs. Commencing 1st July, 2014, all new employees of the sponsor companies are required to join the CPS and open Retirement Savings Accounts (RSAs) with a PFA of their choice. Furthermore, an existing employee still reserves the right/option of pulling out of the CPFA to join the CPS.

Closed Pension Fund Administrators

Chevron Closed PFA Limited

MANAGING DIRECTOR:
TAJUDEEN ABIMBOLA KARIM

Zasarii Building (Behind Union Bank)
13, Cornelius Odinor Street
Off Hameed Kasumu Street
Chevy Estate (Off Cheveron Drive)
Lekki – Lagos

+234 1 2772222, Ext 68740, +234 1 2772222 (Fax)

TKarim@chevron.com
info@chevron.com/nigeria

www.chevron.com/nigeria

Nestle Nigeria Trust Limited

MANAGING DIRECTOR:
MUSIBAU MAKANJUOLA

22/24, Industrial Avenue
Illupeju, Lagos

+234 1 2798194 (DL) MD, +234 1 2798184, +234 1 2798188, +234 1 2715701 (Fax)

musibau.makanjuola@ng.nestle.com
nestle.pension@ng.nestle.com

www.ng.nestle.com

Nigerian Agip CPFA Limited

MANAGING DIRECTOR:
IGHOJOVBE OGHENEKARO

1, Elsie Femi Pearse
Off Adeola Odeku Street
Victoria Island, Lagos

+234 7034161327, +234 1 4603300 – 29

ighojovbe.oghenekaro@naoc.agip.it

www.eni.com

´╗┐´╗┐Progress Trust CPFA Limited

MANAGING DIRECTOR:
H. T. LAWANI

No. 1, Abebe Village Road
Iganmu, Lagos

+234 1 5801340 – 9, +234 1 5852067 (Fax)

Titi_Lawani@heineken.nl
info@progresstrustcpfa.com

www.progresstrustcpfa.com

Shell Nig. Closed Pension Fund Administrator Ltd.

MANAGING DIRECTOR:
AKEEB AKINOLA

1st Floor, C Wing,
Bank of Industry Building
23 Marina, Lagos.

+234 1 2601600, +234 1 2645435 – Fax, +234 1 2762023 – Fax

yemisi.ayeni@shell.com
info@shellnigeria.com

www.shellnigeria.com

Total (E&P) Nigeria CPFA Limited

MANAGING DIRECTOR:
IFEANYI ANI

Plot 35
Kofo Abayomi Street
Victoria Island , Lagos

+234 1 27776230, +234 1 2776233

tai.oshisanya@totalcpfa-ng.com
info@totalcpfa-ng.com

http://www.totalcpfa-ng.com

UNICO CPFA Limited

MANAGING DIRECTOR:
MUHIBAT O. I. ABBAS

UACN Corporate Centre Annex
1st Floor
UAC Foods Limited Building
KM 16, Ikorodu Road
Ojota Bus Stop
Ojota – Lagos

+234 1 2661752 (Fax)

mabbas@uacnplc.com
unico@uacnplc.com

www.unicocpfa.com

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