Lagos, Dec. 19, 2025 – The National Pension Commission (Pencom) has extended the deadline for the new recpaitalisation exercise for operators in the sector to June 2027 from December 2026.
Omolola Oloworaran, the Pencom Director-General, disclosed this on Thursday at a media briefing.
She said the recapitalization exercise had not been suspended, but the deadline extended to meet some exigencies.
Under the new exercise, Pencom has recategorised the operators into three
Category A consists of PFAs with Assets Under Management of N500bn and above, who are expected to have a minimum capital of N20 billion + one per cent of AUM above N500 billion.
Category B comprises PFAs with AUM below N500 billion, who must raise their capital base to N20 billion,
Those in Category C are special-purpose PFAs such as NPF Pensions Limited, whose minimum capital was pegged at N30 billion, and the Nigerian University Pension Management Company Limited, whose minimum capital was fixed at N20 billion.
