Meet the CEOs of the largest Pension Funds in Nigeria 

Nigeria’s pension industry has grown tremendously over the past decade, playing a critical role in securing the retirement futures of millions of workers across the country.

According to the latest data from the National Pension Commission (PenCom), Nigeria’s total pension fund assets rose to N24.11 trillion as of May 2025   a 1.91% increase from the previous month.

This growth reflects steady contributions and market returns, despite inflationary pressures and foreign exchange fluctuations.

Behind the success of the nation’s leading pension companies are visionary leaders CEOs who combine financial expertise with strategic foresight to manage billions in retirement assets.

These executives are not just administrators; they are innovators, driving growth, improving customer trust, and ensuring that retirement funds are invested wisely and securely.

From expanding digital platforms to introducing innovative investment strategies, these CEOs are shaping the future of pensions in Nigeria, one decision at a time.

In this feature, we take a closer look at the people steering Nigeria’s top pension companies and how their leadership is redefining retirement planning in the country. 

Bolanle Onotu – MD Norrenberger Pensions Limited  

Asset under management: N140.4 billion (2022)  

Bolanle Onotu, Managing Director and CEO of Norrenberger Pensions Limited, brings more than 30 years of experience across commercial banking, mortgage banking, and pension administration. She was appointed into the role in 2024, taking over from her predeccessor Hamisu Idris.

•  A dual MBA holder from the European Business University Luxembourg and the University of Calabar Onotu has built a reputation for strategic leadership and operational excellence. At FBN Mortgages Limited, she spearheaded large-scale residential projects and implemented reforms that boosted financial performance, earning recognition for her ability to drive growth while fostering customer trust.

• She is a member of the Nigerian Institute of Management and an Associate Member of the Nigerian Institute of Cost Management.

Norrenberger Pensions has strengthened its focus on timely payments and customer service, a priority reflected in its audited 2021 report.

The company paid N881 million in benefits to nearly 900 beneficiaries while also adopting non-interest pension funds and digital innovations such as contactless transactions and blockchain integration. With assets under management climbing to N120 billion in 2021 a 17% growth(N140.4 billion in 2022).

Abdullahi Aliyu: Managing Director/CEO OAK Pensions Limited 

Asset under management: N178.6 billion 

When Abdullahi Aliyu took the helm of OAK Pensions in April 2020, he brought with him three decades of experience in Nigeria’s financial services sector.

• A graduate of Bayero University, Kano where he earned both his accounting degree and an MBA Aliyu began his career at the Kaduna State Board of Internal Revenue in 1990 before moving into banking.

• His path included treasury roles at the Nigerian Industrial Development Bank and FBN Merchant Bank, followed by a decade at Pensions Alliance Limited, where he rose to executive director.

• With more than 30 years of financial sector experience, Aliyu’s career reflects a steady rise through Nigeria’s banking and pension landscape.

Under his leadership, OAK Pensions has reported steady growth. In 2022, the company’s audited Retirement Savings Accounts funds reached N144.55 billion, up 16 percent from N124.16 billion in 2021. Aliyu has sharpened his expertise with executive training at Wharton, Columbia, London Business School, and Lagos Business School, positioning him as one of the industry’s more globally minded leaders.

According to published data the company has a total asset under management of N178.9 billion. As of June 2025, the company recorded a 1.94% monthly gain on all RSA funds in subtotal.

Rotimi Adebiyi- CEO Crusader Sterling Pensions 

Asset under management: N721 billion (2025) 

Rotimi Adebiyi is the Managing Director and Chief Executive Officer of CrusaderSterling Pensions Limited, bringing over twenty-five years of extensive experience in the financial services sector. He has a proven track record in portfolio management across diverse asset classes and a strong background in formulating and executing investment strategies that deliver long-term value.

• Before joining CrusaderSterling, Mr. Adebiyi was the Chief Executive Officer of HIP Asset Management Company Limited, where he played a key role in developing robust investment frameworks and ensuring effective portfolio diversification.

• From 2018 to 2021, he also served as Divisional Head at FMDQ Depository Limited, a central securities depository and subsidiary of the FMDQ Group.

• Earlier in his career, he built deep expertise in treasury operations, holding key positions across Money Market, Foreign Exchange, Fixed Income, and Asset and Liability Management.

His career highlights include serving as Head of Treasury, Head of Local Currency at First Bank of Nigeria, Senior Sales Trader at Standard Chartered Bank, and Chief Dealer at Intercontinental Bank (now Access Bank Plc).

A respected industry leader, he was Treasurer of the Money Market Association of Nigeria between 2008 and 2010 and later co-founded HIP Asset Management Company Limited in 2012.

According to a statement by CrusaderSterling Pensions Limited, which circulated in April 2025, the company’s Assets Under Management (AUM) stood at N721 billion as of March 2025. In its overall performance it recorded a 3.2% gain in its pension funds as of June 2025.

Olusakin Labeodan: CEO, Leadway Pensure 

Asset under management: N808 billion 

Olusakin Labeodan is the Managing Director/Chief Executive Officer (MD/CEO) of Leadway Pensure PFA Limited. His expertise spans Strategic Management, Investments, Marketing, Business Development, and Organisational Synergy.

• Before assuming the CEO role, Olusakin served as the Group Chief Marketing Officer (CMO) for Leadway Holdings Limited, and earlier, as an Executive Director on the Board of Leadway Pensure PFA responsible for Sales & Investments.

• He holds a B.Sc. in Statistics from the University of Ibadan and an MBA in Strategic Management from Milpark Business School, Johannesburg, where he graduated with distinctions in Strategic Marketing and Strategic Operations Management.

• Olusakin’s professional experience across public, private, and international organisations has sharpened his leadership in Marketing, Business Development, ICT, Banking, and Pension Fund Administration. He also serves as a Non-Executive Director on the Board of Leadway Health Limited.

Over the last decade, Leadway Pensure PFA has expanded to more than 25 branches nationwide, managing over 721,000 Retirement Savings Accounts (RSAs). As of 2023, the company reported N808 billion in Assets Under Management (AUM) across its seven pension funds. According to the latest results as of June 2025, Leadway Pensure PFA Limited saw an average 3.09% average return, with significant gains of 4.01% in RSA I and 4.24% in RSA II.

Dr Kolade Morakinyo – CEO NPF Pension Managers Limited 

Asset under management: N1 trillion (2024) 

Kolade Morakinyo, Ph.D., FCA, FCIB, FCTI, is the Chief Risk Officer of NPF Pensions Limited and a seasoned professional with over two decades of expertise spanning finance, communication, audit, taxation, consultancy, and oil and gas.

• He began his career at NNPC, where he was recognized as the Best Corp Member, before moving to Professional Imports Duty Administrators (PIDA) under Balogun Badejo & Co., where he facilitated the recovery of over N12 billion for the Federal Government through strategic reforms in revenue collection and port operations.

• Kolade has held key roles at Tele Ogunjobi & Co., ATL Communications, Guardian Express Assurance, and Index Asset Management. His academic credentials include a Ph.D. in Accounting from Nasarawa University and degrees from the University of Lagos and Federal Polytechnic Ado-Ekiti.

NPF Pensions’ audited Assets under Management grew by 18.08% in 2022 to N827.60 billion, surpassing N1 trillion in 2023, ranking it the fourth-largest PFA in Nigeria. Recent data from 2024 shows NPF Pensions emerged as the clear leader, delivering an impressive 38.87% return.

Sa’adu Jijji; Acting Managing Director Pensions Alliance Limited 

Asset under management: N1 trillion 

Sa’adu is a versatile professional with rich experience across multiple sectors of the Nigerian economy. After graduating from Ahmadu Bello University, Zaria in 1995 with a degree in Business Administration, he began his career at Intercellular Nigeria Limited in 1997, one of the pioneer private telecom operators.

• By 2001, he joined Citibank Nigeria in the Operations and Technology division, and in 2004 was appointed pioneer Manager for MTN Nigeria in Kaduna before rising to Regional Manager, Abuja.

• In 2008, he became MTN’s National Customer Intelligence Manager but soon pursued an MBA in Finance and Strategy at the University of Oxford’s Saïd Business School, UK. On his return, he led transformational projects at MTN before venturing into finance and strategy consulting.

• In 2012, Sa’adu joined Premium Pension Limited as Head of Corporate Strategy and later Chief Investment Officer. By 2015, he became Managing Director of Alexander Forbes Consulting Actuaries. In May 2020, he joined PAL Pensions as Executive Director, Technical.

PAL Pensions, licensed since 2005, is one of Nigeria’s foremost PFAs, managing assets of over N1 trillion and serving more than 700,000 RSA holders nationwide, with a strong focus on innovation, customer-centricity, and long-term value creation. Recent data shows Premium Pension Limited saw a 2.53% average return, notable for 3.43 and 3.49% in RSA Fund I and II, respectively in June 2025.

Ihechere Uche  – MD Trustfund Pensions Limited 

Asset under management: N1 trillion (2023) 

As the Chief Executive Officer of Trustfund Pensions Limited, Mr. Ihechere embodies over three decades of professional expertise in finance, auditing, and leadership.

A Fellow of the Institute of Chartered Accountants of Nigeria and a Certified Information Systems Auditor (CISA), he holds a B.Sc. in Accountancy from Imo State University (1987) and an MBA from the Federal University of Technology, Owerri (1995). His career spans reputable institutions including FITC, Churchgate Group, and FCMB Pensions, where he previously served as Financial Controller.

Since assuming leadership at Trustfund Pensions Limited, a licensed Pension Fund Administrator under the Pension Reform Act 2004, Ihechere has steered the company toward market dominance through innovation, process excellence, and technology-driven solutions.

According to Trustfund it achieved a historic milestone surpassing N1 trillion in Assets Under Management (AUM) within ten months of its revised three-year strategic plan, reinforcing its vision to secure financial futures and provide stability for Nigerians in retirement.

Trustfund Pensions Plc posted a 3.19% average return, with strong gains of 5.78% and 1.82% in RSA Fund I and RSA Fund IV, respectively as of June 2025.

Christopher Bajowa- MD/CEO FCMB Pensions

Asset under management: N1.1 trillion

Christopher Bajowa has over 28 years of dynamic experience spanning banking, business consultancy, and pension fund administration. A seasoned leader recognized for driving transformative growth and innovation, he has consistently delivered impact across industries.

His academic foundation is impressive, with a BSc in Economics and Politics (1989), an MSc in Maritime Studies (1991), and an MBA (1992) from the University of Wales, UK. He further distinguished himself with a certificate in Project Appraisal and Risk Management from Duke University, USA, in 2011.

Christopher began his career in 1995 at the Nigerian Industrial Development Bank (now Bank of Industry) as a Senior Investment Officer. He went on to hold senior leadership roles in corporate finance, structured trade finance, and business development at Diamond Bank, Access Bank, Bank PHB, and Keystone Bank. In 2011, he transitioned into consultancy as Principal Partner at Plas Pamir Investment Company Limited before joining FCMB Pensions Limited in 2013 as Executive Director. He rose to become Managing Director & CEO in October 2021.

Under his leadership, FCMB Pensions Limited has thrived, recording N1.1 trillion in assets under management as of July 2025. The company dominated the chart with an average monthly return of 5.68%, including standout performances of 7.29% in RSA Fund II and 4.23% in RSA II.

Hamisu Bala Idris : CEO Premium Pension Limited 

Asset under management: N1.3 trillion 

Hamisu Idris, is the Chief Executive Officer. With more than two decades of experience in the financial services sector, he brings a wealth of knowledge from both banking and pension fund administration. His career started in 1999 at Inland Bank as a Funds Transfer Officer, later moving to Broad Bank and Fidelity Bank, where he rose to Branch Leader after the 2006 consolidation.

• In the pensions sector, Mr. Idris has served in senior roles at Premium Pension, FUG Pensions, Veritas Pensions, and Fidelity Pension Managers. He was Managing Director of Investment-One Pension Managers in 2019 and later CEO of Norrenberger Pensions before returning to Premium Pension.

• Premium Pension Limited has solidified its place as one of Nigeria’s foremost Pension Fund Administrators (PFAs), closing the 2024 financial year with remarkable growth. The company’s Assets Under Management (AUM) surged by N210.73 billion, bringing the total to N1.344 trillion.

Shareholders enjoyed strong returns, with a final dividend of N2.20 per share (N1.446 billion), in addition to an interim dividend of N2.06 per share already paid. By year-end, Premium Pension’s registered Retirement Savings Accounts (RSA) reached 818,199, representing 7.71% of the industry total.

At the end of June 2025, its RSA funds recorded a 2.53% gain in average total.

Emenike Uduandu-CEO Access ARM Pensions Limited 

Asset under management: N3 trillion 

Access ARM Pensions Limited, one of Nigeria’s leading pension fund administrators, has continued to expand its footprint in the country’s retirement savings sector under the leadership of Chief Executive Officer Emenike D. Uduanu.

• Uduanu, a civil engineer turned chartered accountant, brings decades of cross-sector experience to the role. He began his career at Ernst & Young and Alliance Consulting in Lagos before moving into senior positions in insurance, healthcare, and asset management.

• He is a trustee of the CFA Institute Research Foundation and a former chairman of the Pension Fund Operators Association of Nigeria. Uduanu also holds a certificate in Institutional Private Equity Investing from the University of Oxford’s Said Business School and is a CFA charter holder.

Access ARM Pensions was created in 2022 following the merger of Access Pensions Limited and ARM Pensions Limited. A subsidiary of Access Corporation PLC, the company manages more than N3 trillion in assets for over 2 million Nigerians.

With capital levels above regulatory requirements, Access ARM Pensions has set its sights on becoming the market leader by 2027. AccessARM recorded a 2.63% average return, notable for 3.44% gains in RSA III.

Olumide Oyetan – CEO Stanbic IBTC Pension Managers 

Asset under management: N4 trillion 

Olumide Oyetan is the Chief Executive of Stanbic IBTC Pension Managers Limited, bringing a wealth of experience from leadership roles within Stanbic IBTC and the Standard Bank Group.

• He began his career at Stanbic IBTC in 2000 and has since held key positions, including Acting Head of Investment Management at Stanbic IBTC Pension Managers and Chief Executive of Stanbic IBTC Asset Management, where he drove significant business growth between 2009 and 2015.

• He later moved to South Africa to lead Standard Bank’s Wealth and Investment Advisory Products and Special Projects before returning to Nigeria in 2019 as Executive Director, Investments.

• From 2022 to 2024, he served as President of the Pension Fund Operators Association of Nigeria (PenOp). Under his leadership

He holds an MSc in Financial and Commercial Regulation from the London School of Economics.

Stanbic IBTC Pension Managers Limited, part of the 150-year-old Standard Bank Group, manages over N4 trillion in pension assets for 2 million+ clients, serving retirees across Nigeria with over 200 nationwide locations. Stanbic IBTC pension recorded a 2.34% gain as of June 2025.