New challenges necessary for growth of pension fund administration-Stanbic IBTC

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Emerging trends such as the transfer window in the administration of pension funds in Nigeria
are necessary for the growth of the sector, Chief Executive Officer, Stanbic IBTC Pension
Managers, Mr. Olumide Oyetan has said.

He acknowledged that though the window among others poses a challenge to operators in the
industry, it affords players the opportunity to be innovative and look inward and proactively
creative to retain confidence of their customers.

Oyetan spoke at the 2021 Stanbic IBTC Pension Managers Virtual Employers Forum with the
theme, “Pension Administration in the New Normal” where he added that
the firm has embark on innovative measures to deliver quality customer experience just as the
pension industry enters a more competitive stage.

He said “You will agree with me that these are both exciting and challenging times. The Nigerian
Pension Industry is changing rapidly, and while some of us might be averse to the changes, they
are necessary if we must grow as an industry”.

In his words, “The transfer window is a positive development for the pension industry which in
the long run, will offer much stability and sustainability to our industry. We therefore hope that
the knowledge we share today will give fresh perspectives on how we can make the most of our
new normal and boost contributor confidence in the Nigerian pension industry and the larger

financial services industry.”

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