The management of Citizens Pensions Limited has promised Nigerians financial inclusion in its operations, stressing that the company would curb vulnerability associated with retirement.
The new pension administrator explained that it is ready to redefine what it means to plan for retirement by leveraging technological innovation and commitment to world-class service.
Speaking at the brand launch on Tuesday in Lagos, the chairman of Citizens Pensions Limited, Chukwuka Onwuchekwa, said the company was entering the pension management landscape to ensure Nigerians achieve a financially secure future.
According to him, Citizens Pensions Limited is poised to provide retirement solutions that empower individuals and institutions to achieve their long-term financial goals.
The chairman said, “The global pension landscape is evolving rapidly. Across continents, we see a concerted effort to harness technology, streamline operations, and place customer experience at the core of service delivery.
“Nigeria, with its dynamic population and unique challenges, presents an incredible opportunity to leapfrog traditional models and embrace a future where pensions are not just an obligation but a cornerstone of financial empowerment.
“We intend to bridge this gap using cutting-edge technology and a customer-centric approach. We envision a system where enrolling for a pension plan is as easy as sending a text message, where contributions are transparent and accessible in real-time, and where customers can trust that their future is secure. Our solutions are not just about numbers and policies; they are about building a future where every Nigerian can retire with confidence,”
Also speaking, the Managing Director/Chief Executive Officer, Helen Da-Souza, said the company was committed to reshaping the future of pensions in Nigeria and ensuring financial security for every hard-working Nigerian.
She said, “We aspire to promote financial inclusion and empower individuals from all walks of life to take control of their financial future.
“We have embarked on this business as a catalyst for change, and it would encompass a diverse range of workers—artisans, market traders, small-scale entrepreneurs, subsistence farmers, and self-employed individuals—who, despite being the backbone of Nigeria’s economy, have historically been underserved by financial institutions.
“These workers face numerous challenges, including irregular income streams, minimal access to social safety nets, and limited financial literacy, leaving them vulnerable in their retirement years.”
Da-Souza said the company would adopt a comprehensive approach to ensure no segment of society is left behind.
“We are not just creating a financial institution; we are building a legacy of empowerment, security, and trust. Our drive is based on our strong belief that every Nigerian deserves the opportunity to retire with dignity, and we are committed to making this vision a reality,” she added.
The Director-General of the National Pension Commission, Omolola Oloworaran, said the new company was entering the market at a time when the Nigerian pension industry was experiencing remarkable growth.
“With assets under management exceeding N22.5 trn and RSA membership over 10.5 million individuals, as of December 2024, expanding across formal and informal sectors. This achievement is a testament to the robust regulatory framework established by the Commission and the collective efforts of all stakeholders,” the DG said.
She congratulated the management of Citizens Pensions, urging it to uphold the trust of contributors and adhere to the highest standards of professionalism.
“Citizens Pensions Limited, with its unique value proposition, is expected to contribute meaningfully to these goals, offering Nigerians more choices and improved access to best-in-class pension services,” Oloworaran added.
