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Premium Pension signs fund management pact with Niger

By BusinessNews Staff on April 15, 2014

Premium Pension Limited has signed a portfolio management agreement with the Niger State Government, which confers on it the authority and responsibility of managing the state’s Retirement Redemption Bond Fund.

A statement from Head, Corporate Communication, Mr. Paddy Ezeala, said the fund was established by the state government through the Niger State Pension Board.

Ezeala said the agreement, which has the endorsement of the National Pension Commission, emphasized, among others, that the funds and assets held in the RRBF must be managed in accordance with the guidelines issued pursuant to the Pension Reform Act, 2004.

The agreement also accords Premium Pension the responsibility of the lead Pension Fund Administrator in the state.

He stated that the agreement, which was consummated at a ceremony held recently at the corporate headquarters of Premium Pension in Abuja, had key stakeholders on both sides in attendance.

The Managing Director, Premium Pension, Mr. Wilson Ideva, and Executive Director, Business Development and Investment, Mr. Adamu Mele, signed on behalf of the company, while the Director-General, Niger State Pension Board, Alhaji Benu Ahmed, signed on behalf of the state government.

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