FCMB Pensions sets N1.2trn asset goal for December 2025

Barbara Bako, Abuja.

FCMB Pensions Limited, a subsidiary of FCMB Group Plc, has set a target to grow its assets under management (AUM) to N1.2 trillion by December 2025, despite domestic and global economic uncertainties.…

The Managing Director, Mr. Christopher Bajowa, disclosed this on Tuesday in Abuja during the firm’s 20th Anniversary Dinner and Awards ceremony.

FCMB Pensions currently manages over N1.1 trillion in assets and has paid more than N200 billion to retirees and beneficiaries since inception.

Bajowa said the company is focusing on the Personal Pension Plan (PPP) segment as its next growth driver, noting that limited inclusion remains a key challenge in expanding the pension contributor base.

He added that currency volatility has also affected savings behaviour, stressing the need for policies that support naira stability and enable pension funds to hedge against depreciation.

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A pioneer Managing Director of the company, Mr. Bello Maccido, said FCMB Pensions emerged following the Pension Reform Act of 2004 and achieved profitability within five years of operations.

By the end of his tenure, he said the firm had signed up about 187,000 Retirement Savings Accounts and built an asset base of N72 billion.

Also speaking, a former board member, Mr. Maheer Rasheed, described the company’s growth to over N1 trillion in assets as a reflection of strong governance and sustained investor confidence.

Representing the Board Chairman, Mr. Ladi Balogun, a Non-Executive Director, Mr. James Ilori, said the board was satisfied with the company’s performance and confident about its future growth.