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.

Industrial And General Insurance Plc., (IGI) was incorporated on 31st October, 1991 and commenced operation in January 1992 as a composite insurer to transact the business of Life and General Insurance (including Pensions and Special Risks). The Company quickly established a reputation for exceptional competence in the delivery of customer-centric services as well as product innovation.IGI has a wide and diversified investment portfolio comprising investment in money and capital markets, real estate, telecommunication services, mortgage banking, aviation, oil and engineering services, forestry, and health care delivery services, amongst others.

Penman Pensions Limited has been specifically incorporated to carry out the Business of Pensions Fund Administration in Nigeria. It has put together a team of distinguished people of impecable business and professional records and credentials from diverse financial and management backgrounds to serve on its board.Our business and operational activities will be driven by a well thought out corporate strategy that will ensure superior operations and service delivery. Our products and services will have clear strategic direction and delivered through functional strategy framework, and be implemented through an organizational structure that is built around highly qualified and experienced professionals, dedicated and trained workforce.The company will provide an operational system that will ensure on-line real time transactions, information generation, as well as provide easy and ... accessibility to qualified users.