Leadway Pensure PFA, a Pension Fund Administrator in Nigeria, proudly celebrates its 20th anniversary.
Over the last 20 years, the PFA has served thousands of customers across Nigeria and beyond, standing as a clear testament to its commitment to providing financial stability at various stages of workers’ career journeys.
Speaking on this remarkable achievement, Olusakin Labeodan, MD/CEO, Leadway Pensure PFA, stated: “As we celebrate 20 years of Leadway Pensure PFA, this milestone is more than a celebration of longevity, it is a tribute to trust, service and innovation. From the very beginning, our mission has been very clear, to deliver a pension system without barriers. Over two decades, we have transformed this vision into reality by simplifying pension access, embracing cutting-edge technology, and ensuring our services are always within reach. With a presence nationwide, a robust mobile platform and the AI-powered assistant LISA, we have placed pension services within the reach of eligible Nigerians.
We have supported countless customers in achieving life goals, from retirement to home ownership, by ensuring access, clarity and care at every step. This is a testament to the strong relationships and legacy we have built with every customer. Trust is at the heart of our service, propelling us to uphold world-class standards and earning us global certifications such as ISO/IEC 27001:2022 for information security, a mark of our unwavering commitment to safeguarding our customers’ funds,” he added.
Looking ahead, the company is committed to promoting youth-focused financial literacy, growing personal pension plans and strengthening customer engagement across every stage of the pension journey. “The next years and beyond will be shaped by the same dedication that brought us this far, a future-forward mindset, a culture of excellence, and an unyielding promise to stand by our customers every step of the way,” Olusakin concluded.
As it commemorates 20 years of service, Leadway Pensure reaffirms its commitment to simplifying retirement planning, delivering consistent value, and driving financial inclusion across Nigeria. With a clear vision for the future, the firm remains dedicated to being the trusted partner in providing financial wellness for generations to come.

The National Pension Commission (PenCom) and the National Insurance Commission (NAICOM) have directed insurance companies and their vendors to fully comply with Nigeria’s pension and insurance laws.
The new directive, contained in a joint circular signed by Abdulrahaman Muhammad Saleem, Director of Surveillance Department at PenCom, and Dr. Talmiz Usman, Director of Legal, Enforcement and Market Development at NAICOM, seeks to strengthen compliance with the Pension Reform Act (PRA) 2014 and the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
The circular focus on compliance with the Contributory Pension Scheme (CPS) and the requirement for all employers to maintain Group Life Assurance (GLA) coverage for their employees.
Under Section 2 of the PRA 2014, every employer in the public and private sectors must participate in the CPS, remit pension deductions not later than seven working days after salary payment, and provide life insurance cover for employees.
However, despite continuous engagements, audits, and sanctions by PenCom, a significant number of employers, including some within the financial services industry, have remained in breach of these legal obligations.
PenCom revealed that it has appointed Recovery Agents to audit defaulting employers, impose administrative sanctions, and pursue judicial recovery of outstanding pension contributions and penalties.
Yet, the persistence of non-compliance has continued to threaten the sustainability and credibility of the CPS, prompting this joint enforcement strategy with NAICOM.
By this new circular, all Licensed Insurance Companies must possess valid Pension Clearance Certificates (PCCs) from PenCom and Group Life Assurance Certificates compliant with NIIRA 2025 before engaging in any operational or investment activity.
Every vendor, service provider, and counterparty that seeks to do business with insurance companies must also hold valid PCCs and GLA Certificates, as a pre-condition for any contractual agreement.
The directive further extends to investment transactions, including commercial papers, bond issuances, and bank placements. All counterparties involved must execute a Compliance Attestation, affirming that their own vendors and service providers also maintain valid PCCs and GLA Certificates.
This cascading requirement effectively embeds pension and insurance compliance throughout the investment value chain, ensuring that no entity within the insurance ecosystem operates outside the law.
Insurance firms are also required to integrate these compliance requirements into their internal policies, vendor selection, due diligence, and investment risk assessment frameworks.
Similarly, parent companies, subsidiaries, holding firms, and institutional shareholders of insurance entities must demonstrate full compliance before any business dealings are approved.
Recognising the operational adjustments that the new measures demand, PenCom and NAICOM have granted a six-month transition window from the date of the circular to enable full implementation.
During this period, insurance companies are expected to align their internal processes, communicate compliance expectations to vendors, and update their governance frameworks accordingly.

By Sola Alabadan

The National Insurance Commission (NAICOM) on Tuesday in Abuja launched three implementation working groups for the Nigerian Insurance Industry Reform Agenda (NIIRA) 2025. They are: Compulsory Insurance Working Group, Digitisation Working Group and Financial Inclusion Working Group.

The Commissioner for Insurance, Mr. Olusegun Omosehin, inaugurated the working groups to drive the structured and coordinated execution of NIIRA’s objectives across the insurance value chain.

The NIIRA 2025 signed into law earlier this year—sets out a holistic roadmap for regulatory reform, financial inclusion, digital transformation, and compulsory insurance enforcement.
Its implementation aims to align Nigeria’s insurance industry with international standards while improving public confidence and economic resilience through risk protection.

Speaking during the strategy session, the Commissioner for Insurance reaffirmed NAICOM’s commitment to ensuring that the implementation phase of NIIRA is inclusive, data-driven, and results-oriented.
He emphasised that the strategy would consolidate ongoing reforms within the Commission and reposition the insurance industry as a key player in national economic growth.

“This marks the beginning of a coordinated journey toward achieving a stronger, more transparent, and technology-driven insurance industry. The NIIRA 2025 is not just a regulatory document—it is a blueprint for building an insurance sector that protects lives, businesses, and investments across Nigeria,” Mr. Omosehin stated.

He further stated that the new working groups would serve as engines of reform, ensuring that critical policy objectives are translated into measurable outcomes.

The Compulsory Insurance Working Group with Mr. Shola Tinubu as Chairman, is to strengthen the enforcement and adoption of all compulsory insurance schemes across the country, including Motor (Third Party), Builders Liability, Group Life, Professional Indemnity, and Public Buildings insurance.

This is to ensure nationwide compliance, improve public understanding of compulsory insurance, and enhance policyholder protection through active collaboration with federal and state enforcement agencies.

The Digitisation Working Group with Adetola Adegbayi as Chairperson, is to modernise the insurance regulatory ecosystem through innovative digital tools and platforms.

This is to enhance transparency, data integrity, and regulatory oversight, as well as improve operational efficiency and reduce processing time for licensing, claims, and renewals.

It is also intended to expand accessibility to insurance products through digital channels and mobile platforms, as well as to implement key digital transformation provisions of NIIRA 2025 (Sections 19–20 and 128) to foster innovation and cross-sector integration.

The Financial Inclusion Working Group with Dr. Yeside Oyetayo as Chairperson, is to deepen insurance penetration, particularly among underserved and low-income populations.

This is aimed at expanding microinsurance and takaful outreach, while also facilitating collaboration with financial inclusion stakeholders, such as the Central Bank of Nigeria (CBN), development partners, and fintech firms.

The Commissioner commended stakeholders for their dedication and expressed confidence that the new implementation structure would fast-track industry-wide reforms. He stressed that the success of NIIRA 2025 depends on active collaboration among regulators, operators, and consumers.

“This strategy represents a shared responsibility to deliver results that will redefine the perception and impact of insurance in Nigeria. We must all see ourselves as partners in national development,” he added.