UBA Pensions Custodian Limited (UBA Pensions) was incorporated in September 2005 in line with the Pension Reform Act 2004, and is a wholly-owned subsidiary of UBA Plc with paid-up share capital of N2bn. UPCL is located in an access-controlled and serene environment with high safety and security standards. This business aims to provide a custodial haven for the savings of Nigerian workers, with a rapidly growing portfolio of assets in custody in excess of N150 billion (as at March, 2009). UBA Capital (Europe) - Licenced by the UK Financial Services Authority, UBA Capital Europe offers Asset Management; Corporate Finance and Trade Finance Advisory Services; and Trading.

Zenith Pensions Custodian Limited (ZPC) is a subsidiary of Zenith Bank PLC and is run as a separate legal entity was established as a single purpose vehicle to carry on the business of pension custody in line with the Pension Reform Act 2004.

Following the Pension Reform Act 2004, First Bank of Nigeria Plc, the oldest Nigerian bank with the largest branch network of 372 branches (only bank with over 307 locations on-line real-time), and posting the highest profit in the sector floated a Pension Fund Custodian (PFC) known as First Pension Custodian Limited (FPCNL).
The company was granted “Approval in Principle” on August 2005 by the National Pension Commission (PENCOM) and was incorporated on August 16, 2005. FPCNL has an authorized and fully paid up capital of N2 billion. It is fully owned by First Bank of Nigeria Plc with asset base of N377.5 billion as at March 31, 2005.

Pension Fund Custodian Operations Guidelines from the National Pension Commission

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