Aiico Pension Managers was granted a license to operate the business of Pension Fund Administration in Nigeria on 13th April, 2006. Aiico Pension Managers Limited has been set up to take advantage of the provision of the Pension Reform Act, 2004. Despite the fact that the minimum statutory share capital requirement for PFA’s is N150 million, we have an authorized & paid up capital of N800 million because we strongly believe that PFA’s will need more than that to keep going before acquiring critical mass. In choosing First Pension Custodian (a subsidiary of First Bank Plc) as our Pension Fund Custodian (PFC) we have identified synergies in reputation, network, capitalization, experience and reliability which will be brought to bear to bring you quality service.