Premium Pension, Niger state sign pact
Premium Pension Limited, and the Niger State Government have signed a portfolio management agreement which confers on the former the authority and responsibility of managing the state’s benefits fund named “Retirement Redemption Bond Fund. (RRBF)”
The fund has been established by the Niger State Government through the Niger State Pension Board. The agreement was endorsed by the National Pension Commission (PenCom).
A statement from the Premium Pension spokesperson, Mr Paddy Ezeala said the agreement which was consummated at a ceremony held recently at the corporate headquarters of Premium Pension Limited in Area 3, Garki, Abuja had key stakeholders on both sides in attendance. While Mr. Wilson Ideva, the managing director of Premium Pension Limited and Mr. Adamu Mele, executive director, business development and investment signed on behalf of the company, the director-general of the Niger State Pension Board, Alhaji Benu Yahaya Ahmed signed on behalf of the Niger State Government.
“This is a practical demonstration of mutual trust and highly productive partnership required to drive the contributory pension scheme in the country” said Mr. ideva while commenting on the agreement. “We must continue to justify the confidence reposed in us by the Niger State Government as a leading PFA in the country through the rendition of quality service marked by high level of professionalism.”
The agreement states clearly that “the appointment of Premium Pension shall be of a fiduciary nature consistent with the requirements of the law and that Premium Pension shall exercise utmost duty of care and good faith in all their undertakings under the terms of this agreement.”
Other officials of the Niger State Pension Board present at the event include Alhaji Mohammed Ndagi, permanent member, finance, investment and inspectorate and Mr. Mohammed B. Abdullahi, the board secretary and legal adviser.
The Director General Niger State Pension Board Alhaji Benu Yahaya Ahmed signing fund management agreement on behalf of Niger State Government, watching with keen interest is MD/ CEO Premium Pension Ltd. Mr. Wilson Ideva ( right) and Mr. Mohammed Ndagi permanent member of Niger State Pension Board.