30 January 2013

Nigeria: Stanbic IBTC Pensions Affirms Commitment to Customers

Stanbic IBTC Pension Managers Limited, a Pension Fund Administrator (PFA) in the country has restated its commitment to putting customers first in all its activities.

The company said it will not rest on its oars having crossed the one millionth customers mark.

Addressing participants at the event the Chief Executive Officer of Stanbic IBTC Pension Managers Limited, Dr. Demola Sogunle, said: "We will always put our customers first, as our objective is to help them retire well. Our commitment to quality service and corporate governance will continuously set us apart from the rest of the field."

He observed that the retirement savings manager, which celebrated the opening of the one-millionth Retirement Savings Accounts (RSA), still retains its leadership position in the country's pension industry.

He added that it was the first milestone of its kind in the industry saying it was a testament to its reputation as a trusted and accessible safe haven for investment and as an institution that delivers exceptional service to its clients.

"One million customers in less than a decade is an important achievement and reflect well on the solidity of Stanbic IBTC Pension Managers as Nigeria's leading pension fund administrator. We are very optimistic about the future and the assurance that we give our present and our future clients is that we will continue to manage their funds in a very responsible manner," he said.

He stated that with this achievement of the milestone in June 2012, Stanbic IBTC Pensions has over one million RSA holders and over N865 billion worth of assets under its management. It has also paid as much as N1.50 billion to over 23,000 retirees monthly. "Over N112 billion has been paid regularly to retirees since we commenced operations in 2005. Our aim is to continue to set ever higher standards of service delivery and ensure that our RSA holders derive maximum value from their investment," Sogunle explained.

Before now Sogunle noted that as a member of the 150-year old Standard Bank Group, Africa's biggest banking conglomerate, the PFA is backed by strong and sound financial clout, ensuring the safety of clients' investment.

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