PenCom now allows Nigerian pension fund administrators to invest in foreign exchange–denominated assets such as equities, bonds, and real estate, under strict guidelines to manage FX risk.
PenCom’s Director-General, Omolola Oloworaran, described the bond issuance as part of a larger effort dubbed “pension revolution 2.0,” aimed at restoring retirement dignity and resolving delays in pension payments.
The protesters, including elderly men and women, say that 75 per cent of retired workers currently survive on a monthly pension of ₦15,000—a sum they regard as wholly insufficient, especially when compared to the national minimum wage set at ₦70,000. They insist the pension should be adjusted to at least ₦60,000.
