Revised Minimum Capital Requirements for Licensed PFAs and PFCs

National Pension Commission Circular
Summary

Raises minimum regulatory capital to ₦20bn for PFAs (₦30bn for PFAs with AUM of ₦500bn and above / special-purpose PFAs) and ₦25bn for PFCs. Immediate effect for new entrants; existing operators must comply by 31 December 2026, with biennial verification against audited financial statements and 90 days to cure any shortfall.

Applicability

All licensed PFAs and PFCs.

Open Source Document ↗
Document Details
Date Issued
26 Sep 2025
Date Effective
26 Sep 2025
Compliance Deadline
31 Dec 2026
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