By Chioma Obinna
The Managing Director of Citizens Pensions Limited, Mrs. Helen Da-Souza, has said that the official launch of the new Pension Fund Administrator, PFA, operations in Lagos marks a significant step towards transforming Nigeria’s pension landscape with a strong focus on the underserved informal sector.
The new PFA licensed by the National Pension Commission (PenCom), aims to drive financial inclusion and secure the retirement of millions of Nigerians, particularly those in the informal economy.
Da-Souza emphasised the company’s mission to empower individuals and institutions to achieve their long-term financial goals.
She stated: “A key initiative is the Micro Pensions Plan, designed to cater for artisans, market traders, small-scale entrepreneurs, subsistence farmers, and self-employed individuals – a demographic often overlooked by traditional financial institutions. The informal sector is the heartbeat of Nigeria’s economy.
“Citizens Pensions will directly address the barriers these workers face, providing a structured, accessible, and user-friendly platform.”
She explained that the plan offers flexibility, affordability, and security, allowing individuals to save at their convenience through digital and mobile-enabled solutions.
“We are not just creating a financial institution; we are building a legacy of empowerment, security, and trust. Our drive is based on our strong belief that every Nigerian deserves the opportunity to retire with dignity”, she added.
Speaking also, the Chairman of Citizens Pensions, Chukwuka Onwuchekwa, called for collaboration across sectors to build a transformative pension system.
“We envision a system where enrolling for a pension plan is as easy as sending a text message, where contributions are transparent and accessible in real-time, and where customers can trust that their future is secure,” Onwuchekwa said.
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