The National Pension Commission (PenCom), has issued licence to the Nigerian University Pension Management Company Ltd (NUPEMCO), to carry out the business of a Pension Fund Administrator (PFA) in universities.
PenCom’s Head of Corporate Communication, Mr Peter Aghahowa, in a statement on Monday in Abuja, said the approval was based on detailed evaluation of NUPEMCO’s compliance with the requirements stipulated by the Commission.
The NUPEMCO was earlier set up to manage the retirement benefits of staff in Nigerian universities.
It has the mandate to improve the post working standards of staff of Nigerian universities.