Stanbic IBTC Pensions opens Abeokuta office

From left: Executive Director, Operations, Stanbic IBTC Pension
Managers, Steve Elusope; Director of Contributory Pension, Ogun State
Bureau of State Pension, Mrs Taiwo Adebiyi and Pension Desk Officer,
Federal University of Agriculture, Abeokuta, Aderemi Adebayo,at the commissioning of Stanbic IBTC Pension Managers' Abeokuta office.

Chuks Udo Okonta

Stanbic IBTC Pension Managers has opened a new office in Abeokuta, the Ogun State capital, and promised to open more in the coming months.

A statement by the firm said the office is in fulfillment of its commitment to broaden service channels, encourage participation in the Contributory Pension Scheme and avail many Nigerians the opportunity to have quality pension fund administration and financial management services. 

The new office is an additional avenue for Stanbic IBTC Pension Managers to meet the pension and retirement needs of its clientele who are already familiar with Stanbic IBTC through its branches in Ogun State. The initiative is expected to reinforce the company’s promise of convenience and value added by bringing quality service to the people. Only recently, the PFA launched its service channels campaign to enlighten Nigerians on how to conveniently access the company and its services.

From left: Head, Benefit Administration, Stanbic IBTC
Pension Managers, Bunmi Dayo-Olagunju; Pension Desk Officer, Federal
University of Agriculture, Abeokuta, Aderemi Adebayo; Director of
Contributory Pension, Ogun State Bureau of State Pension, Mrs Taiwo Adebiyi and Executive Director, Operations, Stanbic IBTC Pension Managers, Steve
Elusope at the commissioning of Stanbic IBTC Pension Managers' Abeokuta Office.

Chief Executive Officer, Stanbic IBTC Pension Managers, Dr Demola Sogunle, said the cardinal value propositions of the company are participation, accessibility, quality, convenience, and efficiency.

 “Opening yet another office is in fulfillment of our promise to avail as many Nigerians as possible the opportunity to have quality pension fund administration and financial services, which will enable a life of comfort in retirement,” he said.

Sogunle said the PFA has established an effective presence in all the states of the federation, in line with the expanding footprint of Stanbic IBTC Holding, and promised that it will open more offices in the coming months to complement the over 200 branches of Stanbic IBTC Bank, the nine regional offices of the PFA and selected branches of Zenith Bank.

Stanbic IBTC Pension Managers, said Dr Sogunle, is backed by the necessary experience, strong and sound financial clout of the Standard Bank Group, ensuring efficiency in the management and safety of clients’ investments.

“In our eight years of existence, we have emerged Nigeria’s biggest PFA with over one million retirement savings account holders and assets under management of over N950 billion, paying close to N1.7 billion to over 29,000 retirees monthly. Over N178 billion has been paid to retirees since we commenced operations in 2005. Our aim is to continue to set higher standards of service delivery and ensure that our retirement savings account holders derive maximum value from their contributions,” Dr Sogunle said.

Speaking at the office commissioning ceremony, Executive Director, Operations, Stanbic IBTC Pension Managers, Steve Elusope, said the company is committed to ensuring that clients are able to experience excellent and convenient service in any of their touch points, which include their offices spread across the country, their 24-hour multilingual contact centre, Stanbic IBTC ATMs, SMS, email, mobile office, and the Pension Guru online.

The Director of Contributory Pension, Ogun State Bureau of State Pension, Mrs Taiwo Adebiyi, who was a special guest at the commissioning, said with the office opening, Stanbic IBTC Pension Managers has demonstrated its desire to serve the people of Abeokuta, and indeed the state better. She said the PFA has knowledgeable and dedicated staff, who have extended quality service to the state, and that the state government is happy to partner with Stanbic IBTC Pension Managers to improve the wellbeing of retirement savings account holders and the people of the state.

Stanbic IBTC Pension Managers is a subsidiary of Stanbic IBTC Holdings, a member of Standard Bank Group, a full service financial services group with a clear focus on three main business pillars - Corporate and Investment Banking, Personal and Business Banking and Wealth Management. Standard Bank Group is the largest African bank by assets and earnings. It is rooted in Africa with strategic representation in 19 countries on the African continent, including South Africa. Standard Bank has been in operation for over 150 years and is focused on building first-class, on-the-ground banks in chosen countries in Africa and connecting other selected emerging markets to Africa and to each other, applying sector expertise, particularly in natural resources, globally.