Pre­mium Pen­sion, Niger state sign pact

Daily Trust - - BUSINESS - By Hamisu Muham­mad

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.

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